60options Review
| Broker | 60options |
|---|---|
| US Traders Accepted | |
| Company Name | 60options |
| Regulation | No |
| Bonus Type | Deposit bonus |
| Bonus Size | 50% |
| Max Payout | 70% |
| Out-of-Money Reward | 0% |
| Trading Platform | SpotOption |
| Deposit Options | Credit/debit cards, wire transfer |
| Deposit Currencies | US Dollar, Euro |
| Minimum Deposit | $100 |
| Minimum Trade | $5 |
| Maximum Trade | $1,500 |
| Online Since | 2011 |
| Trading Instruments | Forex, Commodities |
| Number of Trading Instruments | 12 |
| Binary Option Types | 60 seconds |
| Customer Support Types | Email (not working), phone (no number is available online), online chat service (not working). |
| Education Offered | How-to-Trade, Personal training on demand |
| Tools Offered | Expired Rates |
| Commission | A processing fee of $25 is applied to a wire transfer withdrawals. |
| Languages | English, French |
| Demo Account | No |
60options offer opportunities to make money through their one-minute deals. One can earn a payout of up to 70% in just 60 seconds. They do not have other options for trading. All traders who can be confident of guessing the movement of an asset in the right direction in just sixty seconds can find 60options a quick way of making money. However, one must be very careful about their investment, as 60options does not guarantee any out of money reward. So, even if you invest the lowest deposit amount of $5, you would have a risk of losing your entire amount. However, if you think $5 is a small amount that you can afford to lose and after losing quite a few times, you will gain the confidence and the right insight of investing in 60 second option, it could be a good opportunity for you. One can invest maximum $1,500 with them in a single trade.
However, traders will find only handful of currencies and gold to invest in. So, this could be a limiting factor for many traders, as 60options does not have a significant range of assets for the investment. Still if you want to invest your money with them, you may come across several kinds of issues. At first, when you visit their website, you will notice that the site is too slow. It will take too long to load and when it will open, you will find a French version of the site. However, you can always choose an English interface, as they support English and French languages only. When you start exploring the website, you will certainly feel the need of updating the site with relevant information and content. For example, they do not even reveal the name of the company under which 60options has been operating and where the company’s headquarter is located. Moreover, there is nothing mentioned about their regulatory status, which many traders often want to learn about. On the basis of the company’s regulatory status, they adjudge the credibility of a company.
But things could be even more disappointing when you will try to contact them to get your doubts cleared. If you email them your queries, you will hardly get any reply from them. They claim that for their client support, they use the services of Financial Expert Services, which comprises a team of professional analysts, but you will hardly witness any professionalism, whether you try to contact them through email or through their online chat services. Their online chat is also not functioning and you will not find any phone number on their site to contact them. So, if you face any difficulty while investing with them, you do not have any option to reach them and resolve your issues.
However, still they have something that can draw your attention and that is the trading platform of SpotOption. 60options offers SpotOption to their traders and many experienced traders would have the familiarity about the platform. For them, it could be fairly advantageous, particularly when they do not provide any demo account. On the other hand, for a newbie investor it could be a challenging proposition to learn the trading skills with 60options, when there is no practice account for them.
Trading Choices
60options has just 12 financial instruments for investment. These include eleven currency pairs and gold. Traders can earn a maximum payout of 70% in 60 seconds by investing in any of these assets. The minimum trade size is $5 while the maximum is $1,500. So, even a small investor can afford to start trading with them. However, one needs to understand that in 60 seconds for their $5, either they can earn $3.5 or will lose their entire $5, since they do not offer any out of money reward.
When it comes to bonuses, 60options seems to be a little generous. But a trader will not earn any bonus for depositing the minimum amount of $100. If you want to earn some bonus, you will need to invest more than the minimum deposit amount. For example, for depositing $250, you can earn 30% bonus. If you deposit $500, you can earn 50% bonus. And if you deposit $1,000, you can earn an Insurance Bonus of $1,000.
Technical Analysis
Perhaps this is the worst area where 60options needs to work out drastically. They only offer Expired Rates and no other technical analysis and tools to their traders. They offer an investment option of 60 second only. It means in 60 seconds, you can both make money or can lose your money. So, seeing the underlying risks, they should provide with more tools to help the investors. Any wrong move will mean that a trader’s money will start vanishing very fast.
Learning & Support
Again there is nothing remarkable that 60options offers to their traders in the name of learning and support. They only have How to Trade section on their website and how much it will help a newbie trader is really doubtful. Moreover, they do not offer a demo account either. They also claim to provide personal training on demand. But it is difficult to understand how one can demand for the training when there is no way to reach them. So, both their education and support are really pathetic and hardly any trader can have any benefit from what they are offering to the traders.
Conclusion
Although 60options claim to offer very good earning opportunity in just one minute, but it is not understandable how one can take advantage of the opportunity. There is a long list of negative points: they do not provide demo account, no information about company, limited number of assets, nil ‘out of money reward’, poor customer support, pathetic education and insignificant technical tools. It clearly shows that one will think twice before investing money with 60options, whether someone is a newbie or an experienced trader. The good thing however is the use of the SpotOption trading platform and the minimum trade size of only $5. And yes, they offer deposit bonuses as well.