Traders should be warned than since the inception of this company, a bogus one has surfaced with an identical name. Customers can and should verify that they are trading with the legitimate OptionStars by viewing its Cypriot license before opening an account. The legitimate OptionStars site offers users SSL (128 bit) encryption security, with segregated sites for user information and funds. The encryption site certificate is offered and powered by “GoDaddy”. The trading platform uses TradoLogic, a popular trading platform that is both secure and easy to use, though rather limited in its scope. Trading investment sizes here range from $10-$100,000.
The company allows transactions and accepts legal tender from Europe, Australia, Canada, and the United Kingdom. American traders should be warned that their country’s Securities and Exchange Commission does not recognize OptionStars as an approved trading site, which means that they are offered no protection in case of loss. Neither Americans nor Belgians may act as first party traders on this site.
Binary Trading Options
Selections include Touch, in which a broker determines the parameters of a price which must be reached, range, in which the trader himself or herself determines the targeted price, and digital, in which the trader establishes a number that must be reached before a pre-determined closing period. The touch and range trading options present the greatest chances for traders to either make or lose a great deal of money with this type of trading.
How OptionStars Works
Traders begin by completing a straightforward “sign-up” form which asks for basic information including country of residence. The site offers an introductory tutorial, both for navigating through the site and for binary options trading in general. Traders must also open an account on this site which asks for basic information and an active e-mail. Unlike other binary options trading sites, OptionStars does not require traders to make deposits before being allowed to open an account. Potential traders are in fact discouraged from depositing money until they’ve had a chance to navigate the site and become familiar with how trading options work on it. Traders must deposit money within this account before being allowed to trade. The site recommends a first time deposit amount of $250. Sums are deposited in three steps. First the trader logs into his or her account with created passwords. Second, the trader indicates the method with which he or she will be depositing money. Options here include major credit cards, “e-wallets”, and electronic transfers from financial institutions. Finally, the trader should add required details for the method of payment that has been chosen. The account will be credited immediately, and if the trader does not get this immediate verification, OptionStars should be contacted at once.
After an account has been successfully established and funds have been deposited, trading can begin. In addition to conventional computers and laptops, OptionStars has introduced an app which allows trading to take place on a wide range of mobile devices as well. The trading platform here is compatible with most web browsers, but users will achieve the best results with the most recent versions of Mozilla FireFox or Google Chrome.
In addition to offering a video assistance, the site offers live broker assistance to users. In addition, OptionStars offers a database to help traders review assets before making trading choices. This database includes up-to-date portfolio information on a variety of stocks, commodities, indices and Forex currency pairs. OptionStars also maintain an archive on past expires, which allows traders to review past action before trading themselves, benefiting from wise decisions and avoiding duplication of past mistakes. Traders then can use all of this information to indicate in which direction they think these products are going to move and enter an amount that they wish to invest.
OptionStars gives account holders three different membership options. All OptionStar account holders are entitled to the following perks, which include:
- A welcome bonus which entitles new traders to a 100% “First Deposit” bonus.
- An online interactive “Education Center” which includes webinars, trading guides, VOD, eBooks and more.
- Risk-free trades, which means that traders lose no money, regardless of how the product performs.
- Personal coaching online with an account manager.
- All traders are guaranteed “fast” withdraws when profits are made.
OptionStars offers three different tiers of membership. For traders with a bronze membership or an account containing between $1,000-$4,999, members get access to the site’s introductory video training and weekly market reviews. With the site’s silver (and most popular) membership an account containing $5,000-$9,000, members receive three trading strategies, daily and weekly market reviews, both the introduction and advanced video courses, and receive the consul of a senior account manager. And with the site’s gold tier, members with accounts containing $10,000-$50,000 receive five trading strategies, daily and weekly market reviews, introduction and advanced video courses, advice from a dedicated account manager, same day profit withdraws, and weekly private trading sessions.
What Is Traded On OptionStars
This company offers trading opportunities in currencies, commodities, stocks, and indices. Currency trading consists of pitting values of world currencies against each other, such as the Japanese yen and the British pound. OptionStars offers traders twenty different commodities to choose from, including precious metals, certain foods, and petroleum. Indices refers to prices based on specific stock action, which is often reflected locally. OptionStars databases allow traders to literally scan the globe to locate and move on prime indices. And those databases also allow traders access to stock information from around the world.
OptionStars uses the Tradologic trading platform, which offers multiple, customizable screens for financial gaming. The platform also includes “widgets” which can help users track and grade their trading performances. Trading features here include Extend, Rollover, Close Now, and Double Up. The three screens which users can access with Tradologic include Matrix which is best for short-term trading and has a screen layout resembling bingo cards, the Multi screen which functions like spread betting and allows the trader to execute three, six, or nine deals simultaneously, and the popular Turbo screen, which offers options that expire in one, two or five minutes. This software is easy to navigate and use, and has special adaptations that allow for various forms of FOREX trading. The app for trading on mobile devices can be acquired from the Apple Store and Google Play and is compatible with iOS and Android systems. While options with mobile devices are more limited, with traders being able to only access Above/Below, Touch, and Range, traders can select from a wide variety of assets here.
OptionStars offers twenty hour hour/seven days a week customer service for users. They have the option of live chat, Skype, a conventional telephone line, or filling out an e-mail contact sheet. Customer service representatives are multi-lingual, and can assist traders in English, Dutch, French, Spanish, Italian, Russian, and Arabic.
OptionStars guarantees “fast” withdraws, with time limits determined by membership levels. Traders can also withdraw deposits that they have made to accounts at any time, provided that withdraw amounts don’t exceed deposit ones. Withdraw methods used are the same as deposit ones; credit cards, e-wallets, or bank transfers.
On the one hand: This company offers a platform that is easy to use, and has been licensed and regulated by the Cyprus Securities Exchange Commission (CySEC) a legitimate governing body. On the other hand, this company runs a confusingly similar and unregulated site, and changes operating addresses frequently. Most recently, it’s in Samoa. On the one hand: This company offers a lot of perks for signing up, including option bonuses and free tutorials. On the other hand, other, legitimate sites have similar and better offers and aren’t on “watchdog” lists like OptionStars is. And on the one hand, some traders have done very well with expiries here, earning 240% investment profits. On the other hand, 240% profits earned on expiries are pretty rare, and this site has received a number of complaints about traders being refused pay-outs and being unable to retrieve deposits.
While a few traders report good results with OptionStars, they appear to be in the minority. To protect personal information and money as well as to make a profit, traders are advised to ignore this site’s hype and look for binary trading options elsewhere.