WinOptions is a fully web-based binary option platform (you don’t have to download any software to use) that was founded in April 2010. It provides traders in the US and Europe with a total of 44 underlying assets. The return for in-the-money options offered by WinOptions can be up to 81 per cent, which is rather high. The lower end of the return rate is not stated though.
Traders in WinOptions have access to a news feed provided by Reuters so that they are always updated with current news on the market. WinOptions use secure encryption techniques and SSL certificates in order to ensure the security of its users. The data when trading or depositing funds into accounts is securely transferred.
The ownership of the company is not publicly stated, except from the information on their site that says ‘The company is managed by few veteran professionals of the global financial industry, with vast experience in financial trading, technology and trading regulations arena.’
- Refund on out-of-the-money options up to 81 per cent
- Receive tiered bonuses when depositing funds
- Trading explanation banner available in 12 different languages
- Account available in 3 currencies
- Useful glossary
- Name: WinOptions
- Website: www.WinOptions.com
- Established: April 2010
- Tel: 0044 203 33555288 / 001 646 9185359
WinOptions Review: Usability
Being a basic site, WinOptions is suitable for beginners. Although the trading area is well presented and easy to use, some other tabs are hidden and therefore difficult to find. The section for FAQ is quite good with answers that cover most basic questions, although more in-depth questions would help. The glossary is definitely a must-read for new traders on WinOptions.
It is both free and simple to register on WinOptions, because the Account section is clearly displayed and easy to understand.
In the ‘My Account’ tab, traders can easily view their Deposits, Withdrawals, History and their Personal Details. Normally it takes 3 to 10 business days to process withdrawals and to allow time for verifying the transaction and identity of card owner.
Because WinOptions has a fully web-based platform, you don’t have to download any software to trade. This makes the buying experience much smoother and enables traders to purchase from any computer. It is stated on the site that an investor may purchase an option up to 1,500. The currency is not stated though.
On the whole, it is pleasant to trade on WinOptions, but new traders will find it lacking in some basic information.
WinOptions Review: No. of assets
Traders on WinOptions can trade options on these underlying assets: 9 currency pairs (forex), 20 stocks, 9 indices and 4 commodities, making a total of 42 assets available. Still, there is no information on the assets themselves.
Expiry range of options
There are 3 expiry times on WinOptions site: end of the hour, day and week. These expiry times are of the most varied in the market.
The effective return is the total percentage of return offered on an option, and on WinOptions the case is 81 per cent. Unfortunately the site does not give information regarding the lowest return offer. WinOptions does not offer a payback when an option expire out-of-the-money neither.
English is the only language used on the WinOptions website. As for the explanatory steps, there are another 11 languages available, which is rather useful.
WinOptions Review: Website extras
On the WinOptions site there is a chart in the trading boxes that displays the development of an asset. This is quite a helpful feature.
On the homepage there are some other interesting features: ‘Trader’s options’, which is a box that shows the percentage split between Calls and Puts within that day, or the ‘Reuters Financial News live feed’ keeping traders updated with the latest market news.
Purchasing options on WinOptions is totally free of charge and commission. Traders can place as many options as they want. Withdrawals using credit or debit card is also free of charge, whereas via wire transfer will cost 20 (no currency stated).
When a trader deposits fund into his account, he may receive some tiered bonuses. WinOptions has a transparent and thoughtful approach by providing clear explanation on the terms and conditions for these bonuses.
Unfortunately, traders can only use credit and debit cards to pay.
Traders can receive support from the WinOptions Customer Service team using phone (with 14 international phone numbers), email or live chat. The available time for service is not stated. Its customer service team is very polite and friendly to traders.