KeyOption (Inactive) Review
KeyOption is no longer operating as a binary options broker. The review presented below is no longer applicable and is presented for archive purpose only.
If you are an international trader looking for a binary options broker and you need serious flexibility when it comes to deposit currencies, you are not going to beat KeyOption. This broker is a SpotOption white label company, and for the most part it behaves like one. Most of the features are pretty typical, but there a few areas where the site excels.
One area is regulation. KeyOption is currently operated by a company called Nuntius Brokerage & Investments, which is based in Athens, Greece. It is regulated by the Greek Capital Market Commission (HCMC) under license # 7/481/30.07.2008. Regulation by a real financial authority always adds a level of trust to trading, so this is excellent.
Take note that there are a few other reviews of KeyOption online, but most of them appear to have outdated information on deposit requirements and more.
Making Your Deposit
You can get started for as little as $200 on KeyOption, and can make your deposit using credit or debit card, QIWI, Skrill, Neteller, or WebMoney. If you make a deposit ranging from $200-$99, you will be eligible for a 50% bonus. If you deposit $500 and up, you will receive a 100% bonus up to $5,000. As you might guess, the bonus carries a turnover requirement.
One thing that is amazing about this company is that they accept deposits in a huge range of currencies, not just US Dollar, British Pound, and Euro as most sites accept. You can also deposit in any of the following currencies:
- Australian Dollar
- Canadian Dollar
- Turkish Lira
- Russian Ruble
- Chinese Yuan
- United Arab Emirates Dirham
- South African Rand
- Swedish Kronor
- Singapore Dollar
- Czech Republic Koruna
- Ukrainian Hryvnia
- Danish Krone
- Mexican Peso
That is literally the largest selection I have ever seen. So that is outstanding for customers located around the globe. Note however if you are a trader in the USA, you cannot join KeyOption for regulatory reasons.
Account Types on KeyOption
- Micro: $500 and up
- Standard: $1,000-$1,999
- Premium: $2,000-$4,999
- Deluxe: $5,000
If you deposit enough to open a Micro account, you get access to the KeyOption Academy, which includes numerous videos and a couple of eBooks, as well as daily market reviews. At the Standard level, you get to add on a trading tutorial and a one- month subscription to Trading Central signals.
At the Premium tier, you get all of these benefits plus dedicated training sessions, a three-month subscription to Trading Central signals, weekly access to a trading specialist for personalized advice, and alerts and assistance any time a special market event is about to occur. At the top level you get all of those same benefits, plus limited risk trades, risk-management education, and permanent access to the Trading Central signals.
Are there any fees or commissions to worry about? Sadly it is difficult to find anything definitive here. There are certainly no fees for depositing or withdrawing money mentioned anywhere on the site, and that is encouraging. But there is also nothing explicitly stating that there are no fees. A bit more transparency would be nice.
Trading at KeyOption
KeyOption uses the SpotOption platform. If you have done much binary options trading at all, odds are good you have already used it on another broker’s website. SpotOption is the most popular platform around. I have seen reviews stating that KeyOption either uses a proprietary platform or the platform offered by Markets.com, but these are outdated reviews.
SpotOption is very easy to use on your desktop or mobile device. KeyOption currently does not offer mobile trading access, nor do they have a demo account. These are both unfortunate drawbacks.
There are 50 assets in total that you can trade on the site, including currencies, commodities, stocks, and indices. Types of trades offered include High/Low, Pairs, Long Term, 60 Seconds, One Touch, and Ladder. Payouts appear to average around 75% for High/Low trades, which is not all that excellent. On the bright side, there is a wide range for trade sizes. High/Low trades start out at just $10 (some sites make you start at $25), and you can range as high as $2,000 ($1,500 is closer to the average industry-wide). So there is some flexibility here for account holders with larger and smaller bankrolls.
In terms of trading tools, along with the signals mentioned previously, you also can use double up, rollover, and early close to control your expiry times and trade sizes. Early close is an especially valuable tool, so this is great.
What do you do if you need to contact customer service? You can get in touch using live chat, telephone, or email. When I checked in, no one was there, but that was not a surprise as I was conducting my research on a weekend.
Conclusion: KeyOption Has Both Pros and Cons
In many ways, KeyOption is your typical SpotOption white label broker. It doesn’t particularly stand out in any major ways, and it does have a few drawbacks which prevent me from making a full recommendation.
- Tons of currency options for your deposit
- A wide range for minimum and maximum trade sizes
- Plenty of nice trading tools and educational resources
- Trading signals are offered at most account tiers
- There appear to be no fees for depositing or withdrawing your money
- The broker is regulated
- There is no demo account
- There are no mobile trading apps
- Payouts could be higher
- USA traders are not permitted
While I cannot give KeyOption a full glowing recommendation, there are enough positives here that I can still give them one. I do suggest that you practice trading at a demo account somewhere else before you join up however, and get in touch with customer service to test them out with a few questions before you commit.KeyOption (Inactive),