anyoption has been operating since 2008 and is one of the few binary options brokers today that are running an in-house trading platform but the real question is, are they good enough for your trading needs? Let’s get into the details to know the answer:
The minimum deposit at anyoption is $200 which is generally similar with 43% of the brokers in the industry today that have the same standard minimum deposit requirement.
Design and Layout
The layout is very simple but there seems to be too much simplicity that can easily bore any user. It would have been more visually engaging if they added a bit of animation or a more inviting theme compared to the dull and basic colors that they used for the website.
The accepted banking methods include credit/debit cards, wire transfer and Skrill (Moneybookers) which are the most commonly used payment systems. The lack of support for PayPal is a bit of a downside though.
The accepted minimum trade size is $25 which is the standard value that is followed by 32% of all brokers in the market today. A much lower minimum investment amount is of course much better.
There are about 100 tradable assets that can you can find on their trading platform and this is a tad higher than the average number of total assets in the market today which is 76. It is composed of all 4 categories namely stocks, currencies, indices and commodities.
anyoption belongs to the 10% of brokers that have chosen to build their own platform to have more control on the features that they would like to provide for their clients. Although this bold move is commendable, they seem to be unsuccessful in this field especially with their Binary 1-100 instrument which is very risky and not too engaging. The general platform features are also not that different from the standard features that you can find with the more popular platforms.
Based on the several tests that were done with this broker, their quotes are synchronized with the actual market feeds although there were some minor delays but not beyond the benchmark which is 20 minutes.
With anyoption the highest payout that you can get is just 75% which is far too distant from the 33% of brokers that are offering a much higher maximum payout rate of 85%. This means that the investment returns that you can get from this broker cannot be taken full advantage of.
Withdrawal Processing Time
Based on their website, the maximum waiting time to get your withdrawals is 7 business days, the same as 17% of the brokerage firms that can achieve this speed. It’s commendable but the frequency of withdrawal delays as reported by a number of their unhappy clients offsets this advantage.
Withdrawal Processing Time
This broker used to be at the top when it comes to customer service quality but over the years they seem to have lowered their standards especially in terms of availability. Aside from providing unsatisfactory support, their agents are mostly unavailable and very hard to reach by phone, email and live chat.
This kind of service quality is not what traders prefer and is not at par with the industry standards.
anyoption belongs to the 41% of regulated brokers in the market today. Their current license is from the Cyprus Securities and Exchange Commission (CySEC) under the operating company which is Ouroboros Derivatives Trading Limited. This means that they follow the rules that are set by this financial regulator.
Their existence since 2008 is certainly noteworthy but this basically doesn’t mean that they are the best. Over the years, their brokerage firm has gained a lot of negative feedbacks from unsatisfied clients and most of the complaints are regarding the slow processing of withdrawals and poor customer service quality, something that most traders are very particular when choosing a broker to sign-up with.
anyoption may have been in the business for years but this doesn’t guarantee that they offer the best binary options trading services in the market. And even if they have the technology to build a customized platform, the features are not that different from the standard platforms that are used by other brokers. The trading conditions that they provide are also not that favourable and encouraging to make substantial returns.