ZoneOptions (Inactive) Review
ZoneOptions is no longer operating as a binary options broker. The review presented below is no longer applicable and is presented for archive purpose only.
ZoneOptions is one of the newest brokers in the binary options scene; the site is operated by Optionzone Limited in Nicosia Cyprus, and was officially launched in 2012. Considering that the website is basically brand new, it’s quite impressive. There are brokers who have been around for years with dilapidated websites that are unmaintained, buggy, and inconsistent. ZoneOptions has a well maintained, intuitive website that is easy to navigate, extremely informative, not at all buggy, and very consistent. If this kind of reliability and thoroughness is indicative of all the company’s services, ZoneOptions may well be an excellent broker.
Getting Started with ZoneOptions
To get started with ZoneOption, simply take a few minutes to register for free. Unfortunately ZoneOptions is not accepting customers from the US at this time. Hopefully that will change, though, since they seem to be a promising company. Under Terms and Conditions, ZoneOptions states that they are regulated under local Cyprus laws, so that’s another good sign of their trustworthiness. Unfortunately ZoneOptions doesn’t provide a demo account for new traders, which is a major drawback, but not an uncommon one. The platform is TechFinancials, so if you can, try to demo test on that platform with another broker before you go live with ZoneOptions. ZoneOptions does offer you a refund of up to 50 GBP, USD, or EUR on your first trade, so you do get one risk-free trade.
Match bonuses of up to 40% or $4,000 are available for your first deposit, and there are also monthly promotions (the current promotion is a higher match bonus for new traders). You can get referral bonuses of up to $50 for providing ZoneOptions with new customers. Deposit options include credit card, wire transfer, and Skrill. Choose carefully, though, since you can only withdraw through the method which you select for your deposit (or wire transfer). $250 or equivalent is the minimum deposit you can make.
TechFinancials isn’t the most common choice for software, but you may be familiar with it since a number of other brokers do use it. The interface is clean, simple, and effective; ZoneOptions provides mobile trading if you prefer to trade while you’re on the go. The minimum trade size is not the most flexible ($25), and the maximum is a little less than we’d like ($2,000 USD). There are only around 45 underlying instruments you can trade, but they seem to be in the process of adding more. You can receive up to 15% back for a trade which expires out of the money and make an average of 60-85% on winning returns. For some high yield options (such as trades over the weekend) you can get up to 360% returns on winning trades.
Another thing we like about ZoneOptions is that there are a lot of different ways to trade. Along with High/Low, you can trade One Touch, No Touch, 60 Seconds, or Boundary options (including In/Out trades). The Boundary trade is a great way to potentially profit in ranging markets where price isn’t moving much (traditionally it’s difficult to profit in markets with little price movement). ZoneOptions also provides rollover if you want to add onto your winning trades and early closure if you want to get out of a trade which is going against you before things get worse.
Customer Service and Trading Resources
Customer service is available via live chat, telephone (not toll free), and email. When we checked in, it was a weekend, so customer service wasn’t staffing the chat desk, but considering that this is the only site we’ve reviewed to date where we were able to immediately and easily get all of our answers from the site itself, we were already pretty impressed. The time and thought which goes into making a website easy to browse for information is itself an element of customer service, and clearly ZoneOptions excels in that regard.
As far as trading tools go, there isn’t much as this point, just a daily market analysis section. There are some basic educational materials (simple how-to pages as well as an ebook). If you register for an account and email customer service, they will provide you with free access to webinars for further training. It doesn’t matter what type of account you get—you can still get access to these resources, which is great. We’d like to see them add more, and hopefully they’ll do just that. For a new company they already seem to be light years ahead of some of their older competitors. Since their website is already in great shape, that should hopefully free up their resources so that they can spend more time working on educating their customers about binary options risks and strategies.
ZoneOptions isn’t a perfect company, but we wouldn’t expect that, particularly not from a business that opened its doors in 2012. In under a year, ZoneOptions has created a website which not only rivals but surpasses the websites of most of their major competitors. While we’re used to searching high and low for basic information about services and not finding it, with ZoneOptions we found simple, fast answers to all of our questions without having to dig for them.
We also like that there are a number of different ways to trade with ZoneOptions, and that rollover and early closure are both available to give traders even more control. Some features we’d like to see ZoneOptions include in the future are a demo account, more trading resources, and more educational materials. If you’re not based in the US, check ZoneOptions out. See if you like what they have to offer, and send a few questions off to their customer service team to test them out. Don’t forget to look for a way to demo test your trades before you get started, and also check out some other reviews by ZoneOptions customers. ZoneOptions looks like they’re off to an outstanding start, and hopefully they will only continue to improve over the coming years.