Why OptionRange is not in the Range of Options for Binary Options Broker

What sets a certain binary options broker from the rest? This is the question often answered by reviews of different binary options broker. If you have a range of options for a broker, you would want to go with a company that can offer you more than what others can. It’s hard enough for new traders to trust a broker, and even harder for newbies to choose the best company to trust. Let’s find out if OptionRange can be your only option among the range of brokers.

OptionRange is a new player in the binary options broker market. It is registered in Cyprus, to be more specific it’s registered in Limassol. Like any other binary options broker, they allow traders to invest on currencies, indices, commodities and stock options. Since the company just started in 2011, there are not many reviews from authority Forex and trading sites yet. Some parts of the www.OptionRange.com website also need some updates for useful information.

Features List

·       Regulated – No current information about it

·       Founded date - 2011

·       Demo account – Yes they provide a demo version that traders can use to evaluate their platform but is only valid for 3 days. The demo accounts are pre-loaded with 500 credits.

·       Starter Bonus –Yes and is based on the initial deposit of traders

·       US Traders Accepted – Yes but traders from Israel, Bulgaria, Nigeria and Cyprus are restricted

·       Easy Deposit Options - Yes through Master Card, Visa, Wire Transfer, WebMoney, Paypal, Western Union, Moneygram

·       Live Chat or Phone Support –No for both phone and live chat support

·       Out of Money refund – No

·       Easy Withdrawals – Withdrawals can be made through a Cheque, wire transfer or credit cards. When the credit card option is chosen, the amount to be withdrawn should not exceed the initial deposit that was made using the same credit card. The minimum withdrawal amount is 250 EUR and should not exceed 2000 EUR per withdrawal.

·       Withdrawal fees – No information stated on the website even on the banking page

·       Asset Classes – Commodities (4), Indices (11), Stocks (22) and Forex (13)

·       Multi-Language – English, Russian and French

·       Minimum Deposit Amount – $50

·       Reputation – Not a lot of reviews are written about OptionRange perhaps because it’s not included in the range of options for many traders. The lack of useful information on their site such as withdrawal fees and an FAQ page contributes to the factor on why traders stay away from their website. The platform however is easy to use and have charts to help you in trading.

Rundown on OptionRange Features

In terms of accounts, OptionRange chose to be simple and less complicated that they only offer one type of trading account for all interested clients. So even if you chose to deposit a small amount of money or it could be the other way around, you will still have the same type of trading account from other members. Other binary options brokers have VIP membership plans and several choices for accounts but OptionRange chose not to discriminate traders with small deposits. Additionally, the opening of account on their website is absolutely free.

Traders can choose rom three trading instruments, which are Digital Option, Range Option and Touch Option. They also provide their traders with tools such as the Extend and Close Now tools. These tools offer flexibility for traders when it comes to making decisions. And since it is a new company, their aim is to get as much traders as members thus they offer affiliate earning opportunities for members who wish to promote them.

Trading Platform of OptionRange

OptionRange thrives on simplicity that’s why their platform is also simple. There’s beauty in simplicity when it comes to binary options platforms, an example of this is the platform of OptionRange. It gives a simple and laidback feel as it eliminates the busy feel of the trading platforms of most binary options broker. In fact, in one screen, there are only 4 tradable items displayed. There are also separate tabs for the different asset classes that they offer. Definitely, their platform will be much appreciated by new traders who don’t need the complexities of other trading platforms.

OptionRange Customer Support

This is an area where OptionRange needs much improvement. As of the moment, there are only two ways to get in touch with them and that is through their email and their contact form. While other binary options broker pride themselves with excellent customer support, simplicity does not seem to be a good characteristic for customer support of OptionRange. Most traders want instant support and this is something that this broker has to offer to prosper and become one of the best.

All in all OptionRange is a simple binary options broker that is great for beginners. However even newbies does not consider them on their range of options for binary options broker because they are lacking in the customer support arena. Since the company just started in 2011, they are already behind their competition when it comes to reputation and popularity. And the lack of great customer support is not helping them advance in the range of options for binary options broker.