MyOption Review

Best Binary Options Brokers: 2020 Ranking
  • Binarium
    Binarium

    Best Choice! The leader in our ranking!
    Perfect for beginners!
    Free Demo Acc + Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

MyOption Broker Review

MyOption was blacklisted for defrauding several customers, falsely informing them about bonuses, moving their money around in various accounts and cheating in every way possible.

Conclusion:

We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

Between 74-89 % of retail investor accounts lose money when trading CFDs

MyOption Special features

Feature set with MyOption includes educational support, personal guidance, bonuses, special promotions and more. Features integrate nicely with technical aspects of the platform providing a truly unique experience that needs little attention from the trader and runs smoothly. We learned to value this during our MyOption review since we could focus on trading with MyOption instead of dealing with the platform itself.

In the basic setting, there are three loyalty programs with MyOption which depend on amount customer deposits to their trading account. Many users believe these requirements are costs, but it’s not true. The funds deposited are at traders disposal at any time. They way system works is that bigger amount of funds per account reduces fixed costs associated with upholding the accounts and enables brokers to offer more services at lower per unit cost.

Users depositing up to $999 are eligible for the

Silver Package

that includes daily market reviews
personal account manager
welcome bonus 20%

With deposits from $1000 and more users get

Gold package

with market updates
e-book on trading
professional account manager
welcome bonus 30%

When depositing more than $2500

Platinum package

offers daily market updates
senior account manager
e-book
welcome bonus of 40%

An additional account possibility is set for customers who are muslims. Sharia law makes spacial requirements regarding accounts and interest on accounts. MyOption adheres to those rules and offers this possibility for millions who want to trade but without breaking their religious traditions. Clients’ funds are held in segregated accounts that are interest-free and do not involve any locked in periods or use of margin.

Bonuses are offered to new and current account holders with MyOption. In addition to the previously described welcome bonuses, in this MyOption review we also want to present to customers some additional features offered by this broker.

Best Binary Options Brokers: 2020 Ranking
  • Binarium
    Binarium

    Best Choice! The leader in our ranking!
    Perfect for beginners!
    Free Demo Acc + Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

MyOption Cash Back Bonus

Increases the incentive to trade by allocating bonuses as users trade. The total amount is in “pending” status at the beginning and later it slowly goes active in the account as trades are made. When we traded for the MyOption review, we saw we needed to trade 20x volume for the releasing of the money to the account starts with 20x for bonuses up to 50% and when we traded more the bonuses available also rose to up to fantastic 200% with 35x turnover! An easy indicator, a volume bar, will indicate the amount traded and how much one needs until required amount is reached.

MyOption First Trade Risk Free Bonus

Reduces anxiety some users may have when engaging in trading for the first time. Binary options do not require payment of fees as many managed funds do, but do require some personal effort. This means that users may be a bit uncomfortable first time they enter positions. MyOption helps here by reducing the risk with the first trade, effectively bringing it down to zero. If the first trade goes wrong, there is nothing to worry about, MyOption will deposit a bonus in the same amount to the trading account of the customer. Trade is capped at the hight of the allocated bonus. bonus can be withdrawn after 30x turnover

Try trading with an award-winning broker like IQ Option

Between 74-89 % of retail investor accounts lose money when trading CFDs

Become an IQ Option trader today

Join IQ Option and become a trading master! IQ Option is a world-famous regulated broker that takes your trading to the next level. It allows you to trade forex, crypto, stocks, options and much more on its award-winning platform. The best part? You can start trading with a minimum deposit of ONLY $10! Read our IQ Option review.

MyOption Trading software

MyOption calls their trading platform “StrategiX”. Their binary options trading platform is in essence modified SpotOption engine bringing together different modular views into one control panel consisting of four areas that are designed to offer optimal trading speed and accuracy, while keeping the user friendly simplicity. Payouts go high as 90 percent but vary depending on asset or current promotions.

MyOption offers many types of products, the traditional high/low option, range binary options, touch options and the turbo options — better known as 60 seconds option (even though the term includes 15 second binary options as well). The choice is broad and, as we wrote in the introduction to the MyOption review, all services and features are so well integrated that one must view the whole experience. For this, readers must finish reading MyOption review.

Additional tools are the sentiment indicator or the “traders choice” bar. This indicator shows the direction the market is giving and users can use it as a compass when trading. It is not really good to base the whole trading strategy on it since price quotes get updated faster than the traders can act. It is a useful tool if, after doing the chart analysis, users are undecided because signals are mixed.

The extension of the sentiment indicator is the social trading. This is a rare feature among binary options brokers which lets users track the trades made by other traders. It’s an excellent way to benefit from the core of the market intelligence. Prices contain all the available information in the market, but the market knowledge is a network of pieces of the information. With social trading, users can capture these fragments to see where the pricing is made and what drives it. By leveraging these micro level “signals” they can increase their profit chances, by integrating them into their strategy or sometimes just following the most successful trades, which can carry somwhat more risk since there is delay between entering positions.

Market analysis sections of the website and the tab with mobile apps aren’t operational yet.

If you want to trade with an award-winning licensed broker, we recommended using IQ Option

Between 74-89 % of retail investor accounts lose money when trading CFDs

MyOption Support information

Fair Binary Options shares many core values with MyOption. One of our main values is fairness, and this is also something MyOption tries to promote with their customers. For the trust between traders and brokers to emerge, good personal contact is essential and that is why we were so happy to experience personal support during the MyOption review. All accounts include this essential service.

If users are for any reason unable to get in touch with the personal account manager, they can always contact the help desk. MyOption support can be contacted via phone, live-chat and e-mail, which is currently standard and minimum what is required from the binary options brokers. Phone contacts are available for United Kingdom, Russia, Bahrain, Singapore, Hong Kong – most of the global macro regions are covered.

Email support also works well. During the MyOption review, all the issues we had, were resolved fairly efficiently, while any questions we had, were answered thoroughly, with concrete steps highlighted. We are sure, however, most users will find the FAQ in combination with the guidance by the account manager more than enough to trade without hiccups.

Try trading with an award-winning broker like IQ Option

MyOption Review

MyOption

Broker MyOption
US Traders Accepted
Company Name Aldo Trading Ltd.
Headquarters Nicosia, Cyprus
Regulation No
Bonus Type Match bonus
Bonus Size 40%
Max Payout 85%
Out-of-Money Reward 0-15%
Trading Platform TradeSmarter
Early Closure
Deposit Options Credit/debit card, wire transfer, Lightstreamer, Mister Cash, CashU, iDeal, WebMoney, Skrill, QIWI
Deposit Currencies US Dollar, Euro, British Pound, Australian Dollar
Minimum Deposit $200
Minimum Trade $10
Maximum Trade $5,000
Online Since 2020
Trading Instruments Currencies, stocks, commodities, indices
Number of Trading Instruments 48
Binary Option Types High/Low, Short Term, StrategiX (this includes High/Low, Range, One Touch and No Touch)
Customer Support Types Live chat, telephone, web form, email, paper mail
Education Offered Basic how-to articles and videos, FAQ, free eBook, one-on-one training
Tools Offered Market reviews, account manager, double up, rollover, early close
Commission $30 fees for wire transfers, no withdrawal minimums
Languages English, Russian, French, Arabic
Demo Account No

MyOption is a Cyprus-based binary options broker with a TradeSmarter platform and some interesting features. While they are by no means perfect (they are missing a demo account, they have flexible withdrawal terms and many different ways to trade. While they are definitely a mixed bag, they may appeal to traders looking for a fee-free withdrawal structure and a rather rare platform.

You can join MyOption in a matter of minutes and select an account tier that suits you. MyOption is not regulated, but they do not accept traders from the USA. They accept a ton of different deposit options, including credit or debit card, wire transfer, Mister Cash, Lightstreamer, iDeal, CashU, WebMoney, QIWI and Skrill. You can choose from four account currencies: US Dollar, Euro, British Pound, or Australian Dollar.

The initial deposit is $200 or the equivalent in your currency, and you can choose from one of three different account tiers. The lowest tier is Silver (for deposits up to $999). This includes market updates on a daily basis, an account manager, full time support, and a welcome bonus up to 20%. At the next tier, Gold (for deposits between $1,000 and $2,499), you get a free eBook and a higher welcome bonus of 30%. If you deposit $2,500 or more, you get a Platinum account. This includes premium one-on-one training as well as a welcome bonus of 40%.

MyOption is a bit stingy when it comes to resources. There isn’t much on the site except for how-to articles and an FAQ. There is a selection of “Training Videos,” which turns out to only be two videos, and neither teaches you anything technical about trading. Not offering a free eBook until the Gold level seems quite silly; this is something most brokers give away without you even needing to make a deposit. None of this is a deal breaker, but it would be nice if they provided more resources.

You may be thinking that 40% is a bit parsimonious for a bonus as well, but this actually is nothing to complain about. Generally speaking, most binary options brokers offer bonuses which are almost ludicrously high. Achieving the turnover is very difficult, and the unrealistically large sums of “free” money offered by these brokers call their intentions into question. 40% is a more reasonable, believable amount, and speaks toward the broker’s likely good intentions.

Great Withdrawal Terms

One of the best things about MyOption is the fact that you are free to withdraw your money whenever you want without consequence. Most brokers charge lots of withdrawal fees, and require that you withdraw a certain minimum, typically around $100 or even $200. MyOption only charges fees for wire transfers ($30). If you use another withdrawal method, you can withdraw as often as you need to without paying any fees. There is no withdrawal minimum threshold, so you can withdraw as much or little as you want at a time, even $1. This flexibility is exceedingly rare, and very welcome in an industry where it can be notoriously hard to get your own money back in your bank account.

MyOption Trading Platform

MyOption uses the Tradesmarter platform. On first glance, it appears quite similar to SpotOption or any other familiar white label platform. Across the top, you will see currencies, stocks, commodities and indices (there are 48 in all). To the side of those options, you can select different layouts, which is a very nice feature, especially since one of them includes candlestick charts. These are some of the nicer, easier-to-read charts I have seen on a binary options platform. They could be improved with indicators, but they offer more than the typical squiggly line.

On the platform, you can also choose how you want to trade. Along with High/Low, you will see 60 Seconds and “StrategiX.” If you select “60 Seconds,” you will actually be offered a range of Short Term trading opportunities from 30 seconds to 5 minutes. One thing which is not so great here is that trades start out at $10 for Short Term trades and $25 for other types of trades. This is a bit steep, considering that Short Term trades are risky, and most brokers start them out at $5. You can trade up to $5,000.

What is StrategiX? Select this and you will be taken to a second trading window which offers you a selection of additional trade types, including Above/Below, Range, One Touch and No Touch. You can specify a timeframe and a strike distance. This is an exciting customizable platform feature, and opens up even more trading possibilities. Early close, rollover and double up are also available, and allow you to control your trade when it is in progress.

Conclusion: Cautiously Worth Considering

MyOption has its pros and cons, and it is by no means perfect. The broker could be much better if they offered a demo account, and not just a single risk-free trade. They could benefit from lowering their minimum trade amounts a bit, and they could use some additional training resources. Their customer service team could be more responsive; the live chat desk does not appear to be staffed at all, and that is a major concern.

While that may seem like quite a few complaints, consider the positives. MyOption is one of the few binary options brokers out there that will not charge you fees for withdrawals or require you to withdraw $100 or more if you ever want to see your money again. They have a great and generally well-designed trading platform that offers a number of different trade types and customization features. They look to be different from their competitors, and seem to be doing what they can to stand out. While this is not enough to give them a solid recommendation, they are worth a cautious closer look if you are searching for a broker with friendlier terms for withdrawals.

MyOption , 10.0 out of 10 based on 2 ratings

MyOption Review

MyOption Binary Options Trading Services and Platform is a non-regulated, stocks and trade provider that utilizes common, easy to use interfaces and tools to support binary options trading with ease, and simplicity.

Although US citizens are not allowed to register and use this Binary Options Trading Broker, most countries are indeed supported. MyOption trading service definitely has its shares of advantages however, and it’s evident that they went above and beyond to standout and offer unique features, resources, and services. All account types require a minimum deposit of $250 in your local (or site approved) currency.

There are better brokers than MyOption. Go to our homepage and pick a top rated broker instead.
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Account Types

  • Silver Account: The Silver Account is a nice place to get started, and accepts initial deposits of up to $999. Additionally, a welcome-bonus of 20% is applied to your account, which is a nice feature. This account also includes market updates, account manager, and other basic-level services and resources to maximize your understand and potential profits in utilizing this binary trading service platform and broker.
  • Gold Account: If you’re willing to deposit $1000 to $2,500, the Gold Account is a great place to get started in binary stocks trading. In registering and using this account, you will receive a 30% introductory bonus, and also a free e-book and guide on binary stocks trading.
  • Platinum Account: With a Platinum Account, investors are given an introductory 40% bonus to their initial deposit. The requirement is to deposit at least $2,500. However, unlike previous account levels mentioned, this one includes premium level one on one training and guidance services and resources.

Accessing Your Funds

In comparison to other popular and well known binary trading service providers and brokers, MyOption sets itself apart, as it makes it possible to withdraw funds with ease, only charging $30 per wire transfer in removing or withdrawing whichever amount of funds you please.

MyOption also remains competitive by allowing funds deposit in a broad range of payment methods. Payment methods such as Mister Cash, Skrill, Web Money, Credit or Debit Card, QIWI, and more–all increase the likelihood of money depositing and withdrawing to be completed with ease!

The Minimum and Maximum trade of $10-$5000 makes MyOption binary stock trading options quite unique and competitive. With less stipulations and more funding accessibility, this is definitely a binary stocks trading platform and broker worth considering!

Investors are given the ability to deposit and trade funds using British Pounds, Australian, and American dollars.

Features Provided

While the majority of trading-interfaces via MyOption are generic at best, early close, double up, and 60 second to 5 minute trading definitely sets it apart from the rest. The only downfall with such, perhaps, being the minimum deposits necessary to utilize such services and resources.

However, on a more positive and unique note, investors are able to utilize OneTouch trading and other features along with candlestick viewing features which enhance the overall experience and increase the likelihood of effective trading and ‘keeping it simple’.

Using services such as NoTouch and OneTouch, investors are given the ability to specify timeframes and strike distance, to ensure consistency, customization, and the likelihood of profitability by remaining in total control of their account and investments.

MyOption unfortunately does not provide a Demo Account per say, however does offer some investors to utilize a “risk-free” investing term and project under specific circumstances and approval—for example, account type.

MyOption Review – Conclusion

If users and prospective investors are seeking a unique, flexible, and less-cost platform that doesn’t consistently penalize users for withdrawing money, then MyOption platform and services are a great place to start! (With only $30 per wire transfer/withdraw of funds)

While MyOption is not regulated, it definitely inarguably provides investors with more flexibility, freedom, and the ability to customize how they want to invest their funds, under a multitude of stocks, and provide quality percentage bonuses for first-time users and investors!

Ultimately, while Customer Service using the online chat-feature seems to be rather non-existent, communicating with this binary options trading platform and service provider is not necessarily impossible, however will require direct phone or email communications for such inquiries.

Ultimately, however, in consideration of the rather generous registration and investment bonuses, spending flexibility, and features—MyOption is definitely a competitive brokerage entity found via the internet for maximizing your funds, investments, and trading experience with a multitude of commodities, in a broad array of service tools and resources.

Best Binary Options Brokers: 2020 Ranking
  • Binarium
    Binarium

    Best Choice! The leader in our ranking!
    Perfect for beginners!
    Free Demo Acc + Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

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