TopOption is a regulated binary options broker that offers a board range of trading products. Impressive but does it really deliver? Let’s find out in this review:
Only $100 is the required deposit to open an account with this broker. It’s lower compared to the 43% of the brokers in the industry today that require a standard minimum deposit of $200.
Design and Layout
The design somehow lacks creativity and can easily bore out any trader with its dull colors and uninteresting layout. A better theme would have made it more engaging.
They accept the most common payment methods and this includes credit cards, fast bank transfer, Webmoney, Skrill and Neteller. Unfortunately, PayPal is not supported.
32% of brokers in the market today require a minimum trade size of $25 but with TopOption, the lowest amount that you can invest is just $5 which is good for lowering down the risks and managing the trading funds efficiently.
They have a more than 180 tradable assets which is way higher than the average number in the market today (76) and what’s even better us that they have covered all the 4 categories (stocks, commodities, currencies and indices) plus pairs and this still gives plenty of opportunities to make differentiated trades.
The trading platform that they are currently using is powered by TradeSmarter. It’s fast and has a diversity of instruments.
Several tests on their platform never showed a couple discrepancies with the prices that are displayed on their interface and the actual market data.
The regular binary options trade can pay a maximum return of 85%. This is at par with 33% of the brokers today that pay the same rate.
Withdrawal Processing Time
Withdrawals at TopOption are processed with a maximum waiting time of 7 days. This is still faster than the average waiting time of 10 days that is followed by around 21% of the brokers in the market today.
Withdrawal Processing Time
Unfortunately, the support quality was not able to meet the industry standards. Client assistance was not remarkable and was actually slow.
TopOption belongs to the 59% of brokers that are licensed by an authorized regulator. Under Leadtrade Ltd., they are regulated by the Cyprus Securities and Exchange Commission (CySEC).
TopOption has been operating since 2012 but over the years they have lost their dominance in the binary options market. They have been overshadowed by other pioneering brands which have much better offerings.
TopOption has a fair share of pros and cons and in the end only makes their service average. In binary options trading, you need to be with a broker that has the best features so you can utilize the most useful tools and services to maximize your returns which is why finding a different broker with better benefits is highly recommended.
UPDATE: Based on the recent reports that we found, we learned that TopOption is no longer accepting new clients. If you are looking for an alternative binary options broker then we highly advise that you sign-up with a credible brand such as 24option for a more rewarding and secured trading experience.