Grand Option (Inactive) Review
| Broker | Grand Option (Inactive) |
|---|---|
| US Traders Accepted | |
| Company Name | Rodeler Ltd. |
| Headquarters | Cyprus |
| Regulation | CySEC, license #207/13 |
| Bonus Type | Match bonus (Bonus terms and conditions apply) |
| Bonus Size | 100% |
| Max Payout | 88% |
| Out-of-Money Reward | 0% |
| Trading Platform | TechFinancials |
| Early Closure | |
| Deposit Options | Credit/debit card, Skrill, CashU, Qiwi, AstroPay, Neteller, Neosurf, WebMoney, SOFORT, Moneta, Giropay, iDEAL, PayGate |
| Deposit Currencies | US Dollar, Euro, British Pound, Japanese Yen, Turkish Lira |
| Minimum Deposit | $250 |
| Minimum Trade | $25 |
| Maximum Trade | $20,000 |
| Online Since | 2013 |
| Trading Instruments | Currencies, commodities, stocks, indices |
| Number of Trading Instruments | 76 |
| Binary Option Types | High/Low, One Touch, Boundary, 60 Seconds, End of Day, End of Week, End of Month, Weekend |
| Customer Support Types | Email, telephone, paper mail, live chat |
| Education Offered | How-to pages, glossary, FAQ, articles, videos, interactive eBook, webinars, training sessions, portfolio management |
| Tools Offered | Market reviews, early closure |
| Commission | Withdrawal fees vary depending on method. 3.5% for credit card, 2% for Skrill, $30 for a wire transfer. |
| Languages | English, Italian, Turkish, Russian, French |
| Demo Account | No |
Grand Option no longer operates as a binary trading website. The review below is presented for the archiving purposes.
Grand Option is a Cyprus-based binary options broker that started in 2013. It is one of the very few regulated brokers you can trade with, operating under CySEC license #207/13. Grand Option stands out from the competition by offering high payouts, an abundance of training resources, flexible investment sizes, and fast and friendly customer service. They do have a few drawbacks; as of right now, they do not offer mobile trading or demo accounts. Still, they are well worth your consideration. Let’s take a look at what they have to offer.
Getting Started on Grand Option
Note that you cannot trade on Grand Option if you are located in the USA; this is because they are regulated by CySEC. If you are located anywhere else in the world, you will find that Grand Option makes trading accessible and friendly by offering numerous deposit options and currencies. You can use your credit or debit card, wire transfer, Skrill, CashU, or any number of other deposit methods. Currencies you may deposit in include US Dollar, Euro, British Pound, Japanese Yen, and Turkish Lira.
The minimum deposit for Grand Option used to be $100, but it has been increased to $250. This is more than reasonable, however, since the minimum trade size is $25, and you would not want to place trades that size on a $100 account. The maximum trade size is $20,000, so Grand Option is a great choice if you have a large account.
Several different account tiers are offered by Grand Option: Standard, Gold, and Platinum. The Standard account is the basic account, and comes with the most basic features and the lowest bonus. Gold account holders can enjoy personalized portfolio management and one-on-one training, as well as an additional 2% return on every successful trade. Gold account holders get one free withdrawal monthly. Free withdrawals are unlimited at the Platinum level. Platinum account holders (also called VIP account members) make extra returns and get personalized training from senior staff members. But keep in mind that investors can lose all their capital by trading binary options.
One drawback of Grand Option to be aware of is withdrawal fees. The fees vary depending on the withdrawal method you are using. You can expect to pay 3.5% for every credit or debit card withdrawal, 2% for every Skrill withdrawal, or a flat fee of $30 for every wire transfer. This is not so great, but if you have a Gold or Platinum account, you can get around the fees. The extra returns help to make up for them on the Gold account, and on the Platinum account, you do not have to deal with them at all.
Bonuses on this site are massive, the biggest I’ve seen! Standard account holders can get 100% match bonuses on their initial deposits. At the higher tiers, you can get bonuses as high as 100%. Grand Option is one of the few binary options brokers to offer bonuses for repeat deposits and not just the first deposit, which is great if bonuses are something that is important to you. Always use care when accepting bonuses; remember that higher bonuses can be more fun, but they can also carry more risk.
Grand Option Trading Features
On Grand Option, you will trade using the popular Tech Financials platform, which you may already be familiar with since so many sites use it. On the left, you will see Short Term and High/Low options. In the FAQ, Grand Option actually talks about additional types of trades, including One Touch, Boundary, End of Day, End of Week, End of Month, and Weekend. Most of those trade types actually refer to expiry times—which do not appear to be present on the trading platform. I can only assume that they are in the process of adding these trade types to their platform, and simply have not gotten around to it yet.
There are 76 commodities, stocks, currencies, and indices available to trade on Grand Option. This site is missing Double Up and Rollover (which is unfortunate), but Early Closure is available, which is a more important tool.
Lots of Resources and Great Customer Service
Grand Option offers far more in the way of educational resources than most binary options sites. In their education area, you will find not just a glossary, FAQ, and how-to pages, but advanced articles on trading, a whole video tutorial series, an interactive eBook, and more. The company hosts webinars routinely for their traders, and at the upper tiers, provides one-on-one training. While these resources will not teach you everything you need to know to become a successful trader, they will definitely get you off to a great start. Most of these resources are available before you even register an account or deposit money.
Customer service at Grand Option is also impressive. You can contact the customer service team through email or over the phone, or you can open the live chat dialogue box. When I opened live chat, I was greeted immediately by a real live person, who promptly and informatively answered my questions without complaint. It is really very rare in the binary options world to receive such prompt customer service, and even rarer to find an agent who is willing to answer questions so readily. Some of my questions were very specific, and I received very specific answers, not the usual “contact your account manager” runaround you get on most websites.
Grand Option is far from perfect. They are sorely in need of a demo account, and really need to hurry up and add all the types of trades they list in their FAQ to their trading platform. The withdrawal fees are something of a pain as well. Despite these shortcomings, they have a number of strengths that a lot of sites lack. The resources are awesome, the website is well-designed and informative, the company is regulated, and the customer service is excellent. If you are an international trader, it is well worth your time to have a look. Grand Option may be a good fit for you.
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