Founded in 2009, GOptions is an online binary options trading platform that is owned by Longmont Ltd which is registered in England and Wales under the company registration No. 08414643. The website however, is operated and managed by 2 separate companies – Go Trading Technologies Ltd and Go Marketing International Ltd. Although GOptions was established in 2009, the website was only launched 3 years later in 2012. As such, they are relatively unknown among the binary trading community, until recently when they introduced a signal marketplace service called “Signal Index”. This is actually, a virtual marketplace for more than 20 binary options signal providers.
Platform Overview and Features
The platform which GOptions uses is the popular white labelled SpotOption 2 platform – well-known among binary traders for its simplicity and ease of use. The platform is well accepted by traders in general because of its ability to cater to different categories of traders. In short, a beginner trader will have no difficulty in operating the platform without having to undergo intensive training. At the same time, the platform contains enough advanced and sophisticated features that can accommodate the more complex trading needs of the experienced trader. Overall, GOptions has provided traders with 8 ways to trade the fifty underlying assets covered by GOptions. At the same time, the SpotOption powered platform comes with several risk management tools such as “Roll Forward”, “Buy Me Out’ and “Double Up” which helps to enhance the risk management ability of traders.
Platform Unique Feature
As intuitive as GOptions’ trading platform might be, this broker is better known for being one of the first binary options brokers to bring the concept of automated trading to the world of binary options trading through their signal index service last year in 2014. After you have signed up and funded your GOptions’ trading account, you will be given access to the Signal Index service. Here you will find a list of different binary options signals providers with their respective track record. If you decide to subscribe to a particular signal provider, all the signals sent by the signal provider will then be automatically copied and executed onto your GOptions’ trading account.
While this service has its advantages over the conventional method of transmitting signals through text or email, it remains to be seen if this will prove to be a winning formula for traders. If you are interested in trying out this service, you can open a live trading account with GOptions for a minimum deposit of just $200. The minimum trade amount is quite low, starting from just $5 per trade to $25 per trade.
Reliability and Security
GOptions is not known to be regulated by any internationally recognized financial regulatory authority. However this broker has never made any representation to their regulatory status. Nevertheless, we are sure more information regarding this aspect of their operation would be very much appreciated by the trading community.
On the other hand, they are particularly well known for having the fastest processing times for withdrawals, within 24 hours! While slow withdrawals have always been a thorny issue for the binary options trading industry in general, you will not face this problem with GOptions. So although they might be not regulated, they do prove their reliability by not arbitrarily withholding your money.
As to the web security measures that were put in place to safeguard the clients’ data, they include a well trained technical team to monitor GOptions’ technical infrastructure constantly, SSL encryption technology for credit card transactions and website SSL certificates provided by GODADDY and Incapsula Inc.
From our experience in reviewing binary options brokers, we have never come across a broker that is immune from the complaints from disgruntled clients. GOptions is no exception. In the case of GOptions, most of the complaints that we found were regarding the quality of the signals provided by the signals providers under the Signal Index service. Whether it’s fair or not unfortunately for GOptions, they got blamed for the services which were provided by a third party provider.
Bonuses – 8 /10
The deposit bonuses offered by GOptions depend on the type of trading account which you are going to open. They start from a minimum of 25% and go up to 100%. Take note that for every dollar of bonus which you receive, you need to reach a trading volume of $40 before you are allowed to make any withdrawal, which is pretty standard for the binary options trading industry.
Customer Care – 10/10
We tested out GOptions’ customer support services and found them efficient and responsive. All our queries were attended to quickly without any undue delay. The usual methods such as email, live chat and the telephone were made available for traders to get in touch with the support team. Service is available in 5 main languages, including English, German, Arabic, Russian and Greek.
In addition, once you have opened an account with them, they assign you to a personal account manager to assist you with your trading activities. The great thing about this service is the fact that there is no distinction between a small time trader or a VIP trader. Everyone gets equal attention.
Price Manipulation – 10/10
The price feeds at GOptions were provided by Thomson Reuters. Our observations revealed no attempts at manipulation the prices. All indicated the expiry prices matches closely with those from the price feeds with only a slight variation to account for the spreads.
Security – 10/10
To ensure all their clients’ information are kept safe and secured, GOptions has a well trained technical team constantly monitoring their technical infrastructure to prevent any intrusion from the web. All credit card transactions are also encrypted with SSL encryption so hackers cannot intercept and steal any of the personal information. Their SSL certifications are kept up to dated so there is no worry of any security breach.
Deposits & Withdrawals – 9/10
GOptions provide 3 mains channels for depositing funds namely credit/debit cards, web wallets and wire transfer. Maximum investment amount is $1,000. Available currencies are USD and EUR. Maximum deposit amount for credit card is $5,000 USD, wire – unlimited and Western Union – $10,000. Withdrawals are also possible with the same methods. GOptions, like other brokers require that the withdrawal amount be a minimum of 100USD/100EUR/100GBP. The number of free withdrawals that you are entitled to depends on the amount that you initially deposited with them. For an amount less than $5000, you have one free withdrawal per month. For amounts greater than $5000, you get two free withdrawals a month. For amounts exceeding $10,000, you get 4 free withdrawals per month. As for the service free payable, there is no charge for credit card withdrawals. Wire transfers are however subjected to a fee of $25. The best part about GOptions is that when it comes to withdrawals, they guarantee that your request will processed within the same day.
Achieving a total score of 53/60 puts GOptions squarely in the upper tier of our scoring scale. The scores are well deserved since we noted that they have proven their reliability as well their trustworthiness. As such, BinaryScamSniffer has no problems in recommending this broker should ever you decided that you want to trade the binary options market.