MinuteOptions Review
| Broker | MinuteOptions |
|---|---|
| US Traders Accepted | |
| Company Name | ChargeXP Investments Ltd. |
| Headquarters | Nicosia, Cyprus |
| Regulation | No |
| Bonus Type | Deposit bonus |
| Bonus Size | 20% |
| Max Payout | 75% |
| Out-of-Money Reward | 10% |
| Trading Platform | SpotOption |
| Deposit Options | Credit/debit cards, wire transfer, Skrill, iDEAL, CashU, Nordea |
| Deposit Currencies | US Dollar, Euro |
| Minimum Deposit | $100 |
| Minimum Trade | $100 |
| Maximum Trade | $1,000 |
| Online Since | 2011 |
| Trading Instruments | Forex, Commodities, Stocks, Indexes |
| Number of Trading Instruments | 52 |
| Binary Option Types | Call Option, Put Option, One Touch, Option Builder |
| Customer Support Types | On-line chat service (may not be functioning), e-mail support (unresponsive in most cases), telephone calls to one of their satellite offices |
| Education Offered | Demo Video, Telephonic Guidance by a Trading Coach |
| Tools Offered | Daily Market Review, Weekly Market Review, Expired Rates |
| Commission | The first withdrawal made in the month is free. For the second and subsequent withdrawal in the same month the costs are:
|
| Languages | English, Portuguese, Spanish |
| Demo Account | No |
MinuteOptions offers a 100% web based trading platform powered by SpotOption and thus traders can be assured of a great degree of convenience and user-friendliness, as there is no need to download and install any software. An investor can start trading with them instantly through their web-based platform. The platform has been online since 2011 and there are more than 50 assets in their portfolio. Headquartered in Nicosia, Cyprus, MinuteOptions is the brand name of ChargeXP Investments Ltd, which is not a regulated company, however. They support three different languages. These are English, Portuguese and Spanish. They allow funding of the accounts in US Dollar and Euro, and they have a number of deposit options such as credit, debit cards, bank transfers and deposits. One can deposit a minimum amount of $100 or 100 euros and start trading with them. The minimum amount of trading is $100.
Trading Choices
The list of instruments is not so long. They have only 52 financial instruments for their investors. However, they provide different types of accounts to the traders, namely Bronze, Silver and Gold accounts. This is where MinuteOptions is different from the majority of Binary Options brokers who offer just one type of trading account. All the three types of accounts have their specific trading advantages and earning opportunities, depending upon the investment level of the traders.
MinuteOptions offers a fair earning opportunity with their average In-the-Money ranging between 65% and 75%. Moreover, they provide an average out-of-money reward guarantee of 5-10% which is a kind of surety that a trader would never lose his all money invested with them. With MinuteOptions, besides investing in conventional binary options of Call Option or Put Option, one can invest in two different modes, known as “Option Builder” and “One Touch”. While in “Option Builder”, one can earn a profit of up to 85%, the “One Touch” mode gives an opportunity of trading during weekends and making a profit of up to 500%. The OptionBuilder allows investors to choose a specific asset with a particular return and refund values and which enables the traders to increase their profit level.
Bonus & Earnings
MinuteOptions offer a 20% bonus. However, in order to earn a bonus of 20%, one needs to make a minimum investment of $300. No bonus is allowed on an investment less than that amount. So, a small investor with a minimum investment of $100 cannot think of getting any bonus from MinuteOptions. Many feel that in this way they promote the big investors only. One more fact that goes in favor of the statement that they promote big investments and traders is their system of withdrawal. If a trader makes some profit and wants to withdraw his money, he can be allowed to do so after making at least 10 transactions with them. It’s not like that you earn profit in your first trade and can withdraw your money. So, even if you make 10 small transactions of $100 each, you need to invest at least $1,000 with them so that you can become eligible to pocket the money. This is a little bit tricky and may not be suitable for small investors.
Interestingly in a Gold account, one can be allowed to withdraw money after 5 transactions only. This again shows that they are more interested in luring big investors only. Their withdrawal system involves withdrawal charges which again show how they are more generous towards big investors. One withdrawal per month is exempt from any withdrawal fee. However, for each additional withdrawal in a month, an investor will have to pay the fees in the following manner – Bronze Account: $30, Silver Account: $15 and Gold Account: $10. It clearly shows how Gold account could be more profitable where one would have to pay the least withdrawal charges.
Technical Analysis
MinuteOptions provides several types of technical analysis and tools to its traders. Traders, need to access market reports, can take help of their Daily Market Review and Weekly Market Review. These reviews will help assess the market movements appropriately. However, they do not provide historical data and multi-directional larger charts that most other brokers provide today. They however provide Expired Rates of the assets which helps investors to select suitable options to invest in. They have an additional feature of News by Yahoo Finance which seems bring interesting facts from the market allowing the traders to make an in-depth analysis of the market.
Learning & Support
In the name of learning resources, they have a Demo Video only. This visual walk-through however tries to explain every facet of binary options trading with them. One can opt for a Telephonic Guidance by a Trading Coach as well, but this option may not be favorable for a shy learner who wants to learn trading at his own pace and will. A glossary of terms is there to help understand several things about binary options. Their FAQ page too tries to detail out every key part of trading with MinuteOptions and thus recommended for the new traders. MinuteOptions claims to offer 24-hour live chat support on their website but their chat support seems not working, and you can feel lucky enough if they reply your e-mails. This however does not vindicate their brand message “More Action, Less Waiting.” So, if you are willing to access their support team, it’s better to make phone calls to their international numbers in the UK, US, Spain, Portugal and Brazil. Alternatively, you may opt for their call back option as well where their representative will call you back to answer to your queries.
Conclusion
Thus for a beginner, MinuteOptions cannot be said as a friendly options broker. They seem to offer their all advantages to their Gold account traders and a small investor will not find it suitable to start investing with such a huge amount. Also, they do not offer any demo account where a newbie can learn more about the platform. With MinuteOptions, investment in their Gold accounts seems to be more profitable. However, only an experienced trader can afford such an expensive account. Moreover, their withdrawal condition of minimum 10 transactions may keep most small investors away from opening an account with them.