Established in 2008, TopOption was one of the pioneering binary options brokers that made their appearance when binary options was first introduced to the retail trading sector. The TopOption brand is one of the many online trading brands that is owned and managed by the holding company Safecap Investments Ltd.
While many binary options brokers have moved beyond offering just simple binary options contracts, TopOption has remained rather subtle with their product offering. Nevertheless, TopOption has still managed to remain popular among many binary traders as they still prefer the simplistic approach towards binary trading offered by TopOption.
Platform & Features
As mentioned earlier, TopOption has still remained a rather conservative binary options broker. This can be plainly seen from the contract types that are available on TopOption’s trading platform. Apart from the one touch option contract type, you will only find the classic Call/Put (Up/Down) option type and variations of it like Pair options and 60 seconds options being offered by TopOption. The Option Builder and Pro Option are still essentially classic Call/Put options except traders trading under these 2 contracts have more flexibility in controlling the expiry time and payout ratio. By keeping their product offerings simple, TopOption has managed to make their platform extremely easy to operate.
The platform adopted by TopOption was actually developed in-house by their sister company Markets.com, a leading forex broker in its own right. To help traders manage their trading risks, the platform comes built in with several features such as Double Up, Sell Now and Rollover. There is also a history graph detailing past prices which is incorporated into the trading platform w hich you can utilize as a reference when making your analysis.
With their minimum deposit requirement of just $100 and minimum trade amount of $5, TopOption has made it easy and affordable for anyone to open a live trading account with them. With coverage of almost 200 underlying assets, there will definitely be plenty of profitable opportunities.
As a subsidiary of Safecap Investment Ltd holding the CIF license #092/08, TopOption is a regulated broker under the Cyprus Securities Exchange Commission (CySEC). With regulatory oversight by CySEC, TopOption’s traders are guaranteed protection on their investments by up to 20,000 euros under the Investor Compensation Fund Scheme. CySEC’s oversight also helps to ensure that TopOption is fully compliant with the regulatory requirements such as keeping their clients’ funds separated from their operational funds and meeting the capital adequacy ratio.
To ensure that the trading environment is secure for their clients’, TopOption rely on advanced technological safeguards such as SSL encryption and HTTPS secure protocol to protect data transmitted through the internet. In addition, their website is made hacker safe through the use of McAfee Secure security package.
Complaints – 9/ 10
Despite the fact that TopOption is one of the longest operating binary brokers around, there were surprisingly very few complaints about their services. The few complaints that we did come across were regarding the performance of their previous Keystone powered trading platform. After switching to their newly developed in-house trading platform, these complaints have disappeared.
Bonuses – 8 /10
For new traders signing up with TopOption, depending on the amount they choose to deposit, they can earn up to 100% in welcome bonus. However, to qualify for withdrawal of the bonus, traders must trade up to forty times the bonus amount that they had received.
Customer Care – 10/10
The customer support service at TopOption is one of the most comprehensive in terms of languages covered. The website itself is available in 21 different languages and there are 23 different localized and toll free numbers which you can call for assistance. In addition, you can also contact the support team through email or live chat on a 24/5 basis. Almost all main languages are presented.
Price Manipulation – 10/10
Our research on TopOption shows no obvious manipulation of the option contracts prices. From our observations, the offer prices and expiry prices matches up.
Deposits & Withdrawals – 9/10
TopOption only support 3 main types of fund transfers that is: by credit/debit card, fast wire transfer and WebMoney. TopOption doesn’t specify a minimum withdrawal amount and neither do they charge any fees on withdrawal request. However after the withdrawal request is approved, it takes around 7 days before you can see your money in your bank account.
Security – 10/10.
Going through their website, we found that TopOption security measures are as advertised. All credit card transactions are encrypted with SSL encryption and secured with HTTPS protocol. As such we are confident that your personal data is safe with TopOption.
With TopOption, you can be assured of hassle free trading with their uncomplicated platform. Over the years, they have proven themselves to be a consistent broker in terms of payouts and the quality of the services which they render to traders.