Options Bravo Review
Options Bravo ceased operating as a binary option broker. It is out of business now. The review presented here is no longer applicable.
Options Bravo is a binary options company operated by a company called Optionsbravo (one word). ChargeXP is listed at the bottom of the website as the operating company, but as far as we can tell, they just take care of the billing for this site and a number of other binary options brokers. Options Bravo accepts US customers and offers a limited demo account, but no mobile trading. There are a couple of different ways to trade, generous bonus options, and some useful trading tools. Educational resources on the site are relatively limited, but one on one training is available.
Registration and Deposit
You can register in minutes for free on Options Bravo. One special feature which you can find under the Promotions tab is the “Trial Bonus,” which is the demo account you can use to test out some free trades in a currency of your choice before you trade with real money. The only requirements listed are to register your live account (it doesn’t mention a deposit) and then email firstname.lastname@example.org requesting your trial bonus account. You can then discuss terms further with the customer service team. We strongly suggest that you take advantage of this offer since it will give you the opportunity to try out the platform and your trading method without risking real money.
And even if you do deposit first, you still risk nothing since you can withdraw any amount you want at any time. There are no limits or minimums; there is a $25 fee for every withdrawal conducted via wire transfer (this is a typical fee to expect). We love how reasonable they are about this. They even state on the page, “Your money is your money.” It’s about time we saw a broker that recognized that!
You can deposit using credit card, wire transfer, Liberty Reserve, PayPal, Skrill or WebMoney, and you can trade in British Pounds, US Dollars or Euros. Match bonuses of 100% are offered up to $5,000, which is one of the most generous offers we’ve seen. They are leverage based bonuses however, and you will need to turn over the amount of the bonus 40 times to claim the cash. There is also a cash back program where you can get up to 40% cash back depending on how much you deposit each month in your account.
Options Bravo Trading Features
There are 83 different trading assets available including stocks, futures, currencies and indices. You can trade using High/Low, One Touch or Options Builder, and you can use rollover or double up to add to winning investments. These are all excellent features which put power in the hands of the trader. There are some drawbacks in the area of trading as well though. The maximum trade size is just $1,500 or equivalent. So if you have a lot of money to invest, you won’t be able to make very large trades, which could limit this site to smaller traders. There also is no minimum trade size listed; we sent an email and will update this page when we find out the smallest amount you can trade.
As of right now, there is no way for you to trade on your mobile device. The platform which powers the site is SpotOption. If you’ve traded before on other sites, you may already know how to use it since it’s one of the most popular trading programs in existence and powers many other binary options websites.
Trading Resources and Training
The educational resources on the page aren’t all that detailed. There’s an FAQ (which has some gaps in it), a glossary, a brief video tutorial which tells you how to use the site, and a short page which introduces you to different types of analysis that you can use in trading, but which doesn’t provide you with any real education on those analysis types. There is a market review available as well. One of the better educational features available is the one-on-one training with a personal coach. This is available to traders who deposit as little as $250 and up. Many other websites have $250 set as the bare minimum amount for the initial deposit and don’t offer services like that until you’ve deposited a lot more.
Customer service is offered by phone, email, web form or live chat, but right now the live chat feature seems to be broken. We got an identical error message in Chrome and Opera, so this feature is offline, probably temporarily.
Update (01/23/2013): A couple of months have gone by and we’ve checked the live chat feature again, and receive the same error message. There is no indication this problem is going to be resolved anytime soon.
Reputation and Conclusion
Options Bravo is a relatively new binary options website, so new that we couldn’t find a starting year of operation anywhere. This may be why it seems a little lacking compared to some of the others and why we couldn’t uncover a lot of information about the site. It’s tough to find third party reviews on Options Bravo, but we can draw some conclusions about the site’s reputation and customer service based on that of its billing partner. We’ve looked into a number of ChargeXP operated sites by this point, and on the whole, we haven’t been all that impressed by most of them. Recently however, we reviewed another ChargeXP site called GEOtradex which we found quite interesting, namely because the customer service on that site was great.
Update (01/23/2013): As of right now, we’d recommend that you have a look at GEOtradex if you’re interested in Options Bravo and want to try a similar site. They use the same billing contractor but have a lot more to offer. Initially we were hoping that when we checked back with this website, we’d find the live chat repaired, but being as it’s still broken, we can say definitively that customer service is not Option Bravo’s top priority. It’d be better to avoid them and go with a better broker.