Generally, the wrong choices that you make in life, will lead to bad damages in your career, which might make you empty handed. Due to the incredible growth of broker’s numbers, we have made a lot of reviews to help both beginners and experts to define the most suitable broker to trade with, which is not only legitimate but also have so many unique features to maximize your profits. Today, our review is about TopOption , one of those outstanding brokers.
|Headquarter||Languages||Min Deposit||Min Trade||Max Trade|
|Nicosia, Cyprus||English, French, Spanish, Italian, Arabic, German, Japanese||$100||$5||$3500|
TopOption is owned and operated by SafeCap Investments. This company is quite popular among Forex brokers with the infamous Markets.com. One can easily find out public information about TopOption ’s legitimacy on its homepage. According to this, TopOption is fully regulated in Cyprus by the Cyprus Securities Exchange Commission (CySEC) and authorized by the FSA, Banque de France, CONSOB, and AFM.
The tradable assets in available lists are one of the largest among binary options brokers. This is an advantage for traders since they have the right to choose the most favorite assets among 180 provided assets when it’s come to trade with Topoption.
TopOption Review: Account Registration
Opening an account on TopOption is as easy as usual. We have nothing to discuss here unless there is special feature. With TopOption , you are enabled to open a demo account and a live trading account at the same time, which means you only have to spend a few minute to open up 1 accounts for 2 different purposes. You also have the option to choose which account you are going to use each time you log in.
Immediately, the live trading account will appear with trading platform even though you haven’t made your first deposit yet. At a minimum of $100, you can start your first trade even though too small starting amount is not my recommendation for serious traders. But of course, low deposit requirement is an interesting option for the one who just want to check out this platform’s operation process.
TopOption Review: Customer Support
No need to mention about how important the customer service is in binary option trading. In markets like binary option trading, where customers cannot face to face when dealing with suppliers, they can only communicate with each other via online or over the wire tools. This fact requires suppliers to try by heart to meet customer’s needs perfectly.
Topoption offers a lot of communicate tools. Despite the fact that their live chat system works only in office hours, they do offer 9 toll-free phone number for different locations and 11 additional regular telephones. With this total 20 locally supported phone number, traders at different time zones could be assured to be supported whenever needed.
TopOption Review: Position monitoring
There is an important feature for traders when they open multiple trades. This helpful one allows them to follow up the asset’s prices whenever they want.
On the bottom of the screen, your trading information is performed sufficiently. They will show you the comparison between your strike price and the current price, your profit of the current trade as well as a detailed summary report about your trades up to now.
For more details, you just need to click on the graph for any of your open positions, and get a live one which will show you clearly whether you are in or out of the money. This is important feature that is extremely helpful for traders when they open multiple trades.
TopOption Review: User Interface
Compare to other binary options brokers, Topoption have no special difference since they also use a web-base platform. The difference is the way they develop their options to comfort as many traders as they could.
Topoption’s main trading page is a combination of 5 options. However, traditional binary option trading is still the first concern to them as well as most traders.
When you’ve had your selected assets, two trading graphs will appear on the homepage in order to allow you to set your prices from any of them at the same time.
Like using other Spotoption platform, it’s very easy to make a trade with them, hardly one facing any technical errors when placing a trade. Moreover, to reduce possible errors, Topoption’s platform will show out a countdown window within 3 seconds before locked. With this window, you have to approve to finalize the trade or click on cancel to start over.
TopOption Review: Features
Following are a fair few features that increase the popularity of Topoption recently.
- Pair trading
Topoption has its own advantages even though this type of option might not as sleek as Stockpair’s.
In pair trading option, traders have to decide the better performer between two appointed assets. You trade the ratio between the prices of the two stocks. The higher the price of the first stock, the higher is the ratio. In other words, the trading number is in direct ratio with the first stock’s price and in inverse ratio to the second one.
- Option Builder
First and foremost, this option is not suitable for inexperience traders because of its flexibility.
To run this option, you have to follow steps below:
- Choose the asset
- Choose the expired time
- Choose the payout.
These 3 steps seem too easy, but it requires a lot of knowledge to be in the money, that’s why I have affirmed that this is definitely not for beginners. But this is a perfect option for seasoned traders even though there is less available assets than the regular one. In this option, the best thing is you can choose is the percentage of payment for ITM and OTM, which will definitely satisfy every experienced traders.
- 60 second options
The minimum of $5 is the only thing I can mention here. I don’t have many things to discuss about this option since it’s not my style. In my personal opinion, this option doesn’t require any analysis because it will finish before your realization. But to some traders, this might be interesting option since there’s not much to lose and because of its lightning fast nature.
- OneTouch Option
In comparison with traditional option, this OneTouch usually trade on longer term assets, which also delivers higher return for successful trades. In brief, the main idea of this option is the chosen asset’s price has to meet the strike price only one during its lifetime to be in the money.
- Additional features
Topoption also offers Rollover, Double up features on existing trade upon same conditions as other brokers like TradeRush.
TopOption Review: Payouts and Commissions
To complete this review, I made 3 trades of which 2 wins and a tie. A bad broker can take advantage by adjusting the expiry rate by 1 pip easily to change a tie to a loss, which I had witnessed. Although, there were some clunky moments because of my internet connection that they can use to make such adjustment, but they didn’t. Honestly, my overall experience with Topoption has been quite positive.
Offered payout on Topoption is higher than the average of the market. The return for 60 second option is understandable from 70% to 75% while the one for traditional option and pair option is a litter higher than 80%. All above, the most interesting is the allowance to choose my payout in Option Builder, which is unprecedented until I finish this review.
I tried to request a payout even though my profit was less than $100. I had to submit more documents than normal, which only asks for usual regulations. However, I got my payout 2 days later without any other problems. With such a small amount, I might have to facing many troubles and or unable to withdraw in the worst case. This situation made me very happy to continue trading with Topoption without being worry about how to get back my hard-earned money.
TopOption Review: Conclusion
Currently, no one could deny that Topoption is in the top of binary option trading brokers. In summary, here are advantages of trading with Topoption:
First of all, we don’t have to worry about our money since they have the guaranty of Markets.com, one of the most trustworthy website in Forex trading market.
Second, we have chances to improve our skills before real trades by using their demo account.
The third is that we are offered so many options to trade on their platform, which could be considered as the largest varieties of trading tools out of any of the brokers around.
To better their service, I just suggest that they should improve the effectiveness of the customer supporting system. Finally, Topoption is definitely ideal broker I would recommended you!
TopOption Review Video