Focus Option Review
If you are looking for an offshore binary options broker with zero deposit and withdrawal fees and a strong focus on cryptocurrencies, you might be interested in Focus Option.
This unregulated binary options broker is based in St. Vincent and the Grenadines, and is run by a company called Focus Option Ltd.
In this post, we will walk you through how to start trading on Focus Option, and review the features, pros, and cons of this broker.
Opening your account at Focus Option
You can get started in a matter of minutes at Focus Option:
- Click the purple button in the upper right-hand corner of the homepage that says “Register.”
- Input your basic information.
- Log into your account.
- Deposit your money and start trading.
If you want to test your trading methods out with virtual currency before you trade live with real money, Focus Option offers a fully functional demo account.
We did not see details on any specific bonus offers that are active at this time, but we do know for sure that Focus Option has bonuses. A page on their site mentions they have a 30x rollover requirement. So, that is something to ask customer service about when you are opening your account.
Speaking of accounts, there are four different account tiers at Focus Option: Bronze, Silver, Gold, and Platinum. Each tier adds additional benefits.
At the lowest tier (Bronze), you get the following benefits:
- 24/5 customer support
- Trade more than 140 instruments
At the highest account tier (Platinum), you receive those same benefits plus these additional ones:
- Faster fiat transfers
- Higher trade limits
- Trading signals
- Market analysis
- Personal account manager
- Higher investment tiers (up to 95% payouts)
- Exclusive VIP client events
At the lowest account tier, we notice the maximum payout percentage we are seeing is only 70%. That is a bit lower than we would like to see. It would be better if the higher payout percentage were universally available to all customers, not just those at the highest tier.
What about deposit and withdrawal options? That is one of the areas where Focus Option excels. Transfer methods available include credit or debit card, JCB, Crypto (Bitcoin, Ethereum, Tether (ERC-20), Tether (BEP-20) and Binance USD (BEP-20)). Your account currency can be US dollars, Japanese yen, or Brazilian real. With a minimum deposit amount of just $10, anyone can start trading on this site without a huge amount of money.
Trading at Focus Option
Focus Option lets you trade right in your web browser, or you can download the app available for iOS or Android for your mobile device. Once you are logged in, you can pull up the company’s proprietary trading platform.
You will find basic navigation on the left, assets across the top, and on the right, you can input your trades. There are two views for the charts: “Trading View” and “Normal View.” If you switch to “Normal View,” that is where you will find the indicators.
You will see that Focus Option has two types of trades: High/Low and “Options.” As far as we can tell, Options is a variation on High/Low, but you click on “Up” or “Down” instead of “High” or “Low.” The “Options” trades also have longer expiry times, ranging from 1 hour up to 6 hours. You can pick expiry times as low as 60 seconds for High/Low trades.
The smallest trade you can place is $5, which is a nice low minimum. The largest trade you can place depends on both your account tier and the type of trade you are making. At the time we checked with the lowest account tier, we saw maximum trade sizes between $200 and $500 available.
As we mentioned already, there are 140 different assets available for trading in the categories of forex, commodities, cryptocurrencies, indices, and stocks. In the crypto category, there is a huge selection, so this is the place to be if that is what you want to trade.
Another reason to think about trading at Focus Option is to get away from fees. There are zero transfer fees of any kind, no matter what method you use and what amount you transfer. The site lists instant processing times for deposits and just 24 hours for processing withdrawals. That is excellent.
Keep in mind that you might still have to pay transfer fees if they are charged by your wallet, etc.
There are no trading fees listed for using Focus Option either. The only mention of fees anywhere on the site is if you choose to use third party plugins.
Resources and support
This site does not offer much in the way of education. As for trading tools, there are indicators available to everyone, as well as social trading. Depending on your account tier, you might also get access to market analysis and trading signals. Some members at higher tiers get their own personal account manager too.
One area where Focus Option could stand to improve is with respect to customer service. There is no live chat on the site, and despite a large image of a phone, no phone number either. You either need to fill out a form and wait for support to get back to you, or attempt to reach them through social media.
Final thoughts on Focus Option
Focus Option looks like a mixed bag with both pros and cons. In terms of advantages, they offer multiple crypto deposit options and tons of crypto assets to trade. They also have a nice fee-free structure and a decent proprietary platform. But in terms of drawbacks, they could use more resources and support, and some benefits available at upper account tiers really should be available to all. It would also be nice if they got regulated.
So, we cannot give them a solid recommendation at this time, but they may still be worth thinking about if you want a crypto-centric binary options experience.