2options Review
| Broker | 2options |
|---|---|
| US Traders Accepted | |
| Company Name | 2options |
| Headquarters | British Virgin Islands |
| Regulation | No |
| Bonus Type | Match bonus |
| Bonus Size | 100% |
| Max Payout | 88% |
| Out-of-Money Reward | 10% |
| Trading Platform | SpotOption |
| Deposit Options | Credit/debit cards, wire transfer, CashU, Neteller |
| Deposit Currencies | Euro, US Dollar, British Pound, Australian Dollar, Japanese Yen, South African Rand, Chinese Yuan Renminbi |
| Minimum Deposit | $250 |
| Minimum Trade | $5 |
| Maximum Trade | $2,500 |
| Online Since | 2008 |
| Trading Instruments | Forex, Commodities, Stocks, Indices |
| Number of Trading Instruments | 58 |
| Binary Option Types | Binary Options (High/Low), Long Term, 60 Seconds, one Touch, Pairs |
| Customer Support Types | Web form, email, telephone (including toll-free) |
| Education Offered | 2Options eBook, candlestick chart training, video tutorials, beginner articles, basic how-to pages |
| Tools Offered | Double up, rollover, daily and weekly market reviews |
| Commission | $30 fee for wire transfer |
| Languages | English, French |
| Demo Account | No |
2options is a binary options broker based in the British Virgin Islands. They have apparently been in business since 2008, which makes them among the oldest binary options brokers online. The company has a few noteworthy features which make them interesting, including a relatively low turnover requirement for bonuses below 100%. On the whole, however, they suffer from a number of drawbacks, including limited resources and trading tools for customers, no live chat whatsoever, and no demo account. They do offer mobile trading and several exciting types of trades.
Many Deposit Currencies
One nice thing about 2options is that you can deposit not just in the common currencies (US Dollars, Euros, and British Pounds), but also in several other currencies including Australian Dollars, Japanese Yen, South African Rand, and Chinese Yuan Renminbi. The minimum deposit is $250 or equivalent, and you can deposit using a credit or debit card, CashU, Neteller, or wire transfer. USA traders are permitted. You may withdraw your earnings using the method that you deposited by; standard fees apply for wire transfers, and there is also a $100 minimum withdrawal threshold.
Account Tier Benefits Unclear
There are three different account tiers listed, Standard, Executive, and Platinum. The Standard account is the starter account for customers depositing $250 to $999. This account comes with daily and weekly market reviews, an eBook on trading, and candlestick chart training. With this account, you get a 30% bonus. The Executive Account is available to customers depositing $1,000 to $4,999, and includes a 70% bonus. This account lists the exact same benefits, but lists daily market reviews twice. The exact same list of benefits (with the duplicate entry for daily market reviews) is listed for Platinum accounts ($5,000 to $10,000). This type of account includes a 100% bonus.
From all indications, the Executive and Platinum accounts include the same benefits as the Standard account. The person who put together the page made it look like they include more at a glance, but this is only because of the duplicate entry. So it is unclear why one would go with a higher account tier, except to get a higher deposit.
Deposits are also worth a closer look. If you open a Platinum account with a 100% deposit bonus, you will have to meet the standard 30x turnover requirement in order to withdraw your bonus. But what’s interesting is that if you instead open a Standard or Executive account with a bonus less than 100%, you are able to withdraw the bonus after only a 4x turnover. That is actually a very friendly term compared to most bonus terms and conditions. This would appear to make the Executive account the best value, since you get a reasonably high bonus, but with friendlier terms than the Platinum account includes.
Trade Types and Features
On 2options, you can trade on the familiar SpotOption platform. You will find 55 assets to trade, including currencies, stocks, indices, and commodities. The site does not provide any demo trading functionality.
Types of trades include High/Low, Long Term, 60 Seconds, One Touch and Pairs. 60 Second trades are available starting at a low minimum investment of $5. The maximum investment for all trade types is $2,500. The diverse range of trade types is one of the more exciting features on 2options. Long Term trades offer position traders a chance to take part in the binary options world, and Pairs trading is also a very exciting type of trade which allows customers to profit based on the relative performance of stocks. Returns of up to 88% are available for most trade types. Double up and rollover are available, but there is no mention on the site of early close. There is also no Option Builder, so control over expiry times is probably quite limited.
Limited Resources and No Live Chat
On first glance, 2options appears to provide adequate resources for customers, but there really is not a whole lot here. There is the “candlestick chart training” mentioned on the account tiers page, an eBook, some video tutorials, and some “advanced articles.” If you click on the “advanced articles,” you will find only two articles which are both incredibly basic in nature. The implication is that there is very little in the way of advanced training content on the site (if anything). This, like the duplicate entry on the account tiers page, appears to be an attempt by the site to give the impression that 2options offers more than it actually does.
Yet another such indication can be found in the FAQ section, where the company says that they may be contacted via live chat. While they do provide telephone numbers (including a toll free line) as well as a web form and email address, there actually is no live chat button anywhere on the site. So you cannot get a hold of customer service via that means at all.
Conclusion: Unreliable Site Information
The overall impression which I formed from my visit to 2options was one of unreliability. Several distinct times, the site seemed to be trying to give me the idea that they were able to deliver more than they actually plan to follow through on. This is not transparent or trustworthy, and may be indicative of further problems with the company’s services. Whether this is a deliberate attempt to mislead or simply implies incompetence is impossible to tell, but neither is good.
So while there are a few interesting features here, including the small turnover requirement to claim most bonuses, there are not many compelling reasons to trade with 2options. There are at least a few good reasons to consider avoiding them. They offer no demo account, their live chat is nonexistent, their site includes misleading information (maliciously or by mistake), and the account tiers do not appear to offer any real value at the higher levels. There are much better websites providing binary options trading to USA traders.
2options is a pure scam. i was able to deposit but unable to withdraw. My withdraw request has been pending for one month. they don’t reply my emails or receive my call. i have given up