Great Broker with the fastest withdrawals; SAME DAY
We'd like to see more option types and language support
2012/11/22 by David Fielder
Full Broker Review
Overall Review of Broker: Goptions.com is a relatively new binary options company but may be the best broker you never heard of. The reason is that the brokerage is probably the largest in the Middle East with a strong customer base in the Emirates and Saudi Arabia. The company’s focus specifically on those countries has left it off of our radar and probably our readers’ as well. But that’s a shame as they have a great offering with seriously incredible service. Although only opening their doors earlier in 2012, the company is already the largest in the markets they work with. Many of the brokers we review really do have great service, and we stand firmly behind that. However, these guys take it to a new level. As opposed to the majority of brokers who are slightly wary of investing the time to educate traders with one-on-one sessions, these guys do it for EVERY trader. Big or Small. That’s simply unheard of. We consider ourselves objective and know that investing that amount of time on a $100 depositing customer is a losing proposition, but it’s not stopping them in any way which is why they hit our top 5 broker list.
Company Profile: The company is run by Massive Consulting Ltd., a BVI firm which has over 4 years of serious work with the worlds of online trading; specifically forex. Asked a few years ago what our thoughts of BVI firms, and we would cringe. But today, BVI is actually a good thing for trading. It means the company can offer more to its customers. So, as long as binary options are an unregulated market, the fact that the company is onshore or offshore, is of no concern. If and when this changes, we will surely only recommend regulated brokers. But it’s not the case today so it isn’t part of our review parameters.
The Good; GOptions offers a great range of assets (over 200 different commodities, forex pairs, stocks, and stock indices), a very aggressive payout % of up to 85%, and really fantastic service. They also use a great trading platform which is reliable and very exact.
The Bad: The fact that they only have Above/Below and Touch options would normally rub us the wrong way. We have given higher scores to those who have the 3 main binary option types. But the fact that Range options have been quoted really to the detriment of the trader in recent months, making them nearly impossible to profit on, has left us fairly happy with Above/Below and Touch.
The Bottom Line: The main reason we decided to take a look at this broker is because of the feedback we received from our Arabic speaking readers. They told us we should take a look and we were pleasantly surprised. They have a great offering and stellar service. Fast withdrawals and no nonsense trading service. Top notch broker!
Founded: The company that runs the company has been around since 2009 and is staffed by traders who have decades of experience. However, the fact that the brokerage is only open for less than a year may leave some questioning the brokers reputation. We really think they are worth a try especially if you want a different approach to entering this market.
Payout %: GOptions.com offers up to 85% payouts. Admittedly, this seems to be only on the most popular and liquid of the assets out there – like the EUR/USD binary option and a few others. However, the rest of the options quoted are all in the range of 70-80% – so this places them well above average.
Expiry Variety: Goptions.com offers expiries ranging from 60 seconds, which has become about 30-40% of the volume in the binary market, and all the way to end-of-month expiries. Want something more exotic? The brokerage offers a tailor made option service directly on the trading platform using OPTION BUILDER. Need an even more exotic expiry, call the broker for an RFQ (Request For Quote) on an expiry and they will try to deliver. Yet another example of simply incredible brokering skills.
Binary Options Types: Although they only offer Above/Below and Touch options it still should cover the majority of your needs.
Software Provider: They use a solid software provider in SpotOptions. Stable and reliable. But more importantly, the platform forces brokers to quote Above/Below options at the same price. This is great for traders and allows the trader the choice to buy or sell at the same price – no spread!
GOptions.com home page screen shot. Trade Binaries Today
Asset Types: The company boasts an incredible amount of assets available to trade. Obviously not all are available all of the time and are dependent on market hours, liquidity and other factors. But from our perspective, the company is simply stellar in this regard. See the full list below:
UK and European
Asia and Middle East
Oil (Brent Crude)
TEL AVIV 25
UK AND EUROPEAN
ASIA and MIDDLE EAST
British American T
State Bank of India
JP Morgan Chase
Other Features: GOptions.com doesn’t provide just 1 trading platform. In addition, they have just add the “Buy Me Out” feature which allows traders to close trades prior to expiry. It is basically a way to have stop losses and take profits in binary options. Of course, the price you get to exit is never the full payout and never a complete loss. The idea here is it allow traders to mitigate risk while also getting out of bad trades with some cash left on hand. Very good stuff!
Bonus: The company has a very flexible offering of bonuses of preferred traders. You can get a 25% bonus on any deposit you make with these guys. Great ! The great thing here is that they also offer bonuses of up to 100% for traders coming from other brokers, meaning, if you already have an account at another broker, they will match your initial bonus with a welcome bonus. They also provide nice bonuses and rebates for active traders.
Another important note about the broker is its demo policy. Some broker offer them. Some don’t. We don’t particularly love demos as they give a false sense of security. So we like what these guys did. They said “open an account of $500 or more, we will give you a free demo to sit alongside your funded account”. What this means is, you get the demo you wanted but the brokerage knows you’re taking this seriously. What we know about these guys is that they will invest in their traders. They will get someone to speak with you about how to trade, when to trade, and on what to trade with binary options. If you choose, in the end, not to use your real account, go ahead and withdraw the funds.
Don't Settle, trade with the absolute top rated broker online at the moment with GOptions.com. Currently, they are the highest rated broker with a 94% rating, head and shoulders above the rest.
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