SigmaOption Review
| Broker | SigmaOption |
|---|---|
| US Traders Accepted | |
| Company Name | BR Holdings Ltd. |
| Headquarters | London, UK |
| Regulation | No |
| Bonus Type | Match bonus |
| Bonus Size | 100% |
| Max Payout | 85% |
| Out-of-Money Reward | 0% |
| Trading Platform | SpotOption |
| Early Closure | |
| Deposit Options | Credit/debit cards, wire transfer, WebMoney |
| Deposit Currencies | US dollar, euro, British pound |
| Minimum Deposit | $250 |
| Minimum Trade | $20 |
| Maximum Trade | $1,500 |
| Online Since | 2015 |
| Trading Instruments | Currencies: CAD/JPY, EUR/AUD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/NOK, EUR/NZD, EUR/RUB, EUR/USD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/RUB, GBP/USD, NZD/JPY, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/NOK, USD/RUB, USD/SGD, USD/TRY, USD/ZAR Commodities: GOLD, GOLD/EUR, SILVER Indices: AFRICA 40, BOMBAY SE, DAX, DAX FUTURE, DUBAI, FTSE MIB FUTURE, IBEX, KUWAIT, MICEX, NIFTY FUTURE, RTS FUTURE, STRAITS TIMES, TEL AVIV 25 Stocks: AXIS BANK, BANCO SANTANDER, GAZPROM, LUKOIL RS, ROSNEFT', S.BANK INDIA, SBERBANK, TATA MOTORS, TATA STEEL, TELEFONICA, UNICREDIT |
| Number of Trading Instruments | 220 |
| Binary Option Types | High/Low, Pairs, Long Term, 60 Seconds, One Touch, Ladder |
| Customer Support Types | Email, web form, phone, live chat, paper mail |
| Education Offered | Basic articles and videos, 1-on-1 training, FAQ, glossary |
| Tools Offered | Charting software (pretty basic), economic calendar, trading signals, auto-trading, double up, rollover, early close |
| Commission | $30 fee for wire transfers after the first withdrawal each month. $5 minimum withdrawal threshold for credit cards, $100 minimum for wire transfers. |
| Languages | English, German, Dutch, Italian, Arabic, Swedish |
| Demo Account | NO |
WARNING: SigmaOption appears to be a binary options scam — do not invest anything with them!
SigmaOption is an intriguing binary options broker based in London, owned and operated by a company called BR Holdings Ltd. While this broker is unregulated, it does not accept customers from the USA. What makes SigmaOption different? Even though in some ways this is a typical white label SpotOption broker, SigmaOption sets itself apart by offering some unique bonuses which you are not going to find anywhere else.
Opening Your SigmaOption Account
If you want to get started on SigmaOption, your first step is to register and open your account. Unfortunately, SigmaOption does not offer a demo account. There are however four different tiers for live accounts.
- Standard: $250 minimum deposit
- Silver: $1,000 minimum deposit
- Gold: $5,000 minimum deposit
- Premium: $25,000 minimum deposit
All of these account types include a basic match deposit bonus, starting at 30% at the Standard level and ranging as high as 100% at the Premium level. At the lowest tier, you are assigned an account manager and given access to educational resources. The only difference between Standard and Silver is the inclusion of a higher (50%) match bonus at the Silver tier.
At the Gold level you get some additional benefits and tools including more advanced educational materials and daily signals. You also get access to higher returns. While 85% is a typical return for a High/Low trade at the Standard and Silver levels, at the Gold level you can get as much as 87% on your winning trades. At the Premium level you receive more trading signals, auto-trading, and returns as high as 91%.
Unique Bonuses
What really makes SigmaOption stand out among other brokers is the fact that they offer a couple of different promotions which are entirely unique.
The first of these unique offerings is called Winning Streak. This promotion allows you to receive much higher returns if you get on a winning streak. For example, if you win 30 trades in a row and you invest $20 on each of them, you could win as much as $20,000. You do not need to win 30 trades in a row to enjoy this promotion; benefits start at a winning streak of just five trades. The limitation however is that your entire streak must take place within a 24-hour period, and all your trades need be the same size. They cannot overlap in time.
The other unique promotion is known as Fresh Start. If you have previously lost money trading binary options on another website, or even through Forex, sports betting, or the lottery, SigmaOption will deposit the amount of money you have lost directly into your account as a bonus. In order to take advantage of this promotion, you need only provide a screenshot proving that you lost the money somewhere else. There are some limitations to this opportunity, which are best explained on SigmaOption’s page for Fresh Start.
Because these promotions are so unique and may provide traders with value, they make SigmaOption very appealing broker to consider.
Deposits and Withdrawals
Depositing and withdrawing money on SigmaOption is easy. The minimum deposit amount is $250, which is standard for the industry. Deposit and withdrawal methods include credit or debit card, wire transfer, WebMoney, and Carte Bleue. You may trade in US Dollar, Euro, or British Pound.
There are some fees and minimums for withdrawing your money, but they are not too exorbitant. There are no fees to withdraw using your credit card; if you choose to use wire transfers, you will need to pay a $30 fee for all wire transfers after the first free transfer of the month. There is a $5 minimum withdrawal threshold for credit cards and a $100 minimum withdrawal threshold for wire transfers.
Trading on SigmaOption
There are a huge number of assets to trade on SigmaOption — 220 in total, including currencies, stocks, indices, commodities, and pairs. Types of options include High/Low, Pairs, Long Term, 60 Seconds, One Touch, and Ladder. That is ample variety, and should provide you with plenty of opportunity to profit. The minimum trade size is $20, and the maximum trade size is $1,500. This is not the best range in the world (many sites offer a smaller minimum), but it is in line with industry standards.
Resources and Customer Service
In terms of trading tools, you have access to double up, rollover, and early close. You also get an economic calendar and some charting software on the website (it is pretty basic, but still a nice resource). Depending on your account tier, you also may enjoy the benefits of trading signals and auto-trading. Educational resources are a bit sparser than trading tools; there are some basic articles and videos on the site, but they are not all that informative. There is however one-on-one training at some of the higher account levels.
Channels you may use to access customer service include e-mail, web form, live chat, telephone, and paper mail. I did try to contact a customer service agent using live chat, but the link appeared to be broken when I gave it a go.
Conclusion: Worth Considering for the Promotions and Trading Tools
While SigmaOption does have its flaws (no demo account, $20 minimum trade size), all in all it looks to be a very interesting broker. The withdrawal terms are reasonable, and at the higher account tiers, you get access to a lot of great trading tools.
Fresh Start and Winning Streak are exciting and distinctive promotions. If you have a system with a high win ratio, Winning Streak could feasibly put quite a lot of money in your pocket. If you have lost money on other websites, Fresh Start could help you get it back. Just remember, since Fresh Start is a form of bonus money, it does come with strings attached since you will need to meet the turnover requirement.
If you are thinking about giving SigmaOption a try, I do recommend that you start by contacting the customer service team. It is important to make sure to be satisfied with the quality of service before you commit to depositing money into an account.
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