UpDownOptions, launched in June 2010, are a fully web-based binary option trading platforms just like the others. This means traders do not have to download any software in order to trade. In the US and the UK, UpDownOptions offer binary options on 42 underlying assets.
The return on in-the-money options offered by UpDownOptions is quite competitive in the industry, at 65 to 75 per cent. For out-of-the-money options, the return is up to 15 per cent, which could be beneficial for traders depending on the frequency of the 15% return.
The site attracts new traders by offering several good features, including: tiered bonuses when making deposit, an ‘Open trades’ box that shows the activity of current trades, and a FAQ section with sufficient answer for numerous questions.
UpDownOptions use industry standard security protocols (SSL data encryption technology) to ensure the security of all transactions and date entry, including deposits and withdrawals.
They state that their staff is composed of ‘truly dedicated and highly experienced professional individuals with years of financial background.’ UpDownOptions is currently owned by The Kernox Trading Inc.
- 0 to 15 per cent refund on out-of-the-money options
- 65 to 75 per cent return rate on in-the-money options
- Bonuses given on different deposit amounts
- ‘Open trades’ box displaying trade performance
- Winnings bar included on homepage
UpDownOptions Review: Usability
UpDownOptions is a nice site to navigate around easily. It is also simple and free to register and there is a useful drop-down menu in the FAQ section that contains answers to multiple commonly asked questions.
All of one trader’s trades are stored and presented in My Trades History. Traders can also access their transaction history and deposit and withdrawal options via the My Account tab.
Useful payment pages are also offered by UpDownOptions so that traders can learn about different payment and withdrawal methods available and how they work.
You do not have to download any software because the UpDownOptions platform is fully web-based, which means the buying experience will be made smoother and no software update is needed and purchase can be made from any PC or laptop. A trader can buy an option for $500 each, which is quite a low price on the market. New traders will surely find the site pleasant to use and informative.
No. of Assets
UpDownOptions currently offers options on these underlying assets: 7 currency pairs (forex), 15 US stocks and 8 UK stocks, 3 commodities, totaling 43 assets for purchase. However, binary options are not offered on any indices, and there is no information for any of the assets they have on the site.
Expiry range of options
The site offers many expiry times for binary options, ranging from a few minutes to the end of the trading day.
The “effective return” is the total percentage of return that is offered on an option. For the UpDownOptions website, it is from 65 to 90 per cent. This rate is split between 65 to 75 per cent for in-the-money options and zero to 15 per cent for out-of-the-money ones.
The only language available on the UpDownOptions website is English.
Traders on UpDownOptions are given a useful that helps them to optimize their trading. This tool, an ‘Open trades’ chart, enables traders to view their current trades in real time and follow their performance.
There is also a cute winning bar presented on the top, stating the trader’s names and the amount of money they won on their binary options trade.
Traders do not have to pay any fee or commission to UpDownOptions when purchasing binary options. They are allowed to place as many options as they want without paying anything. Withdrawals made by credit cards or Moneybookers are also free of charge. As for bank check withdrawal, the processing fee is $12.
On the homepage, there are some biggest offering from UpDownOptions. They offer a bonus when trader deposits money into his account based on the amount deposited.
Traders can deposit using credit or debit cards and only payment accounts. The site is still lacking in a direct bank wire transfer payment system.
You can receive support from the Customer Service team of UpDownOptions via email, live chat and a call-back option. There is no direct phone number to contact the team on though. Live chat is available from Monday to Friday, between 9am – 9pm GMT. The customer service team here is polite and helpful.