GOptions Review

GOptions

Rating: 3.0/10

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Broker	GOptions
US Traders Accepted
Company Name	Massive Consulting Ltd.
Headquarters	Birmingham, UK
Regulation	No
Bonus Type	Match bonus
Max Payout	85%
Out-of-Money Reward	10%
Trading Platform	SpotOption
Early Closure
Deposit Options	Credit/debit card, CashU, Skrill, wire transfer
Deposit Currencies	USD, GBP, EUR
Minimum Deposit	$100
Maximum Trade	$5,000
Online Since	2009
Trading Instruments	Currencies, commodities, stocks, indices
Number of Trading Instruments	60
Binary Option Types	High/Low, Option Builder, One Touch, 60 Seconds
Customer Support Types	Email, chat, phone
Education Offered	FAQ, glossary, blog, free charts
Tools Offered	Early closure, rollover, daily and weekly market reviews
Commission	$25 withdrawal fee on wire transfer. The minimum withdrawal amount is $100.
Languages	English, French, Arabic
Demo Account	No

GOptions is a binary options website owned and operated by Massive Consulting Ltd., a company based in Birmingham, England. The Company takes customers from all over the world, including the US, and has been in operation since 2009 and doesn’t appear to be regulated. Even though the company’s been around for a few years, it seems like they still have a fair bit of work to do in terms of website organization. While they have some appealing features, it is challenging to find information on their site or off it; there are very few reviews of this business, and until we know more about them, we’d have a hard time promoting them. We’ll tell you everything we found out while exploring their site however so you can figure out whether you’re interested in GOptions or not.

Deposits and Withdrawals

You can deposit into a new account using a wire transfer, credit card, Skrill, or CashU. The minimum deposit is just $100 or equivalent, which is nice for traders who don’t have a lot of money to start with. Keep in mind however that if you deposit this little at a binary options website, you will only be able to trade tiny amounts of money in order to manage your bankroll in a responsible manner ($5 a trade or thereabouts), so you probably want to deposit more anyway. The available currencies are US Dollars, British Pounds, and Euros.

There’s another drawback with withdrawals. Like many other brokers, GOptions charges a fee for any wire transfers ($25), but the main drawback is that you can’t withdraw from your account unless you take out at least $100. There’s no mention of an associated fee if you do; apparently you just can’t do it. This means if you deposit $100 and lose a few dollars trading and want to cash out, you won’t be able to do it. In order to withdraw your money at all if you made the minimum deposit, you’d literally have to profit or at least break even.

Another annoyance was that we couldn’t find any information on the bonuses, save that they’re leverage-style bonuses and that you need to turn over the amount 40 times to claim them as cash. We also know that along with match bonuses, GOptions offers referral bonuses. The amounts aren’t listed anywhere on the site, however, and you don’t get to see the offers until you deposit money in your account.

Trading Features

Nowhere on the site is a minimum trade amount listed; we sent an email and will update this section when we find out how much it is. The maximum trade size is 5000 USD, but the company plans to increase it for greater flexibility. While it says on the site that you can trade more than 200 underlying instruments, we actually only counted around 60, though this is still a lot. You also have a number of different choices as far as how to trade binary options. There are High/Low trades, One Touch, 60 Seconds trades, and also Option Builder, which lets you choose your own expiry period.

There are a number of good trading tools included with your account like rollover and early closure. There are also daily and weekly market reviews available on the site, which can help you to make decisions if you use fundamental analysis. The site is pretty lacking when it comes to education, however; all we found was an FAQ, glossary, blog, and free charts. There is mention of trading videos, but we didn’t find them, and there are a few dead links in the resources area.

Customer Service and Website Design

Customer service is available via several channels; you can call, use live chat, or email. We looked for a customer service agent to talk to via live chat and didn’t find the desk staffed, though it was on a weekend, so we will give them the benefit of a doubt. The website itself unfortunately didn’t really do much to help us find the information we were looking for. As we already mentioned, we couldn’t find anything about bonuses. We’re also pretty sure they don’t offer mobile or demo trading, which isn’t surprising since those are relatively new offerings for many brokers. A lot of really basic information seemed like it was left out of the FAQ too, like the minimum investment amount. One thing which was openly visible was the risk disclaimer, which we do appreciate.

As mentioned before, a number of pages do not load, and there are inconsistencies in the information on the site, which makes us think that things are a little out of repair. This doesn’t really inspire confidence, especially in a website which has been around for as long as this one has. Three years may not be ancient in internet terms, but with many brokers operating better websites since 2011 and even this year, a site with this many problems after three years seems like it could use some attention.

Reputation and Conclusion

A website called WhyOptions.com has apparently awarded this company Best in Class and Best in Middle East for May of 2012. There is a link out to the awards, but it doesn’t load. Any internet search on GOptions returns only the sparsest information. There are very few third-party reviews and ratings for this broker, in spite of its age, and not much information out there to fill in any of our gaps. The WhyOptions.com site comes up a couple more times, but with press releases on GOption’s services, not the awards mentioned on the company’s website.

With so little to go on, it’s hard to give GOptions a positive review here. We can’t definitively say that they’re not a trustworthy broker, but with no regulation and a blank reputation after three years of operation, we can’t say that we’re particularly impressed. For USA traders and others around the globe, there are many better binary options brokers out there. Have a look at our other reviews to find a more suitable candidate.

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