OptionStars Broker Review South Africa ¦ Trading Binary Options

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OptionStars Broker Review 2020

Considering the popularity of binary options trading on the South African market we have spotted another potentially profitable and interesting binary broker – OptionStars.

They are a brand name of New Markets S.A, Samoa. We also found that with this broker, traders may trade Forex as well.

This broker has been present on the market since 2020 and in our OptionStars broker review, we shall present South African traders with the essential info concerning this interesting broker.

OptionStars General Info – South Africa

Naturally, one of the first things we looked into for our OptionStars broker review is their minimum deposit and we are happy to report that it set at $250, which is the industry average.

While all the usual payment methods like E-wallets and credit/debit cards are available, all traders who wish to deposit via bank transfer must first contact their account manager.

Currencies available for the deposit are GBP, USD, CAD, AUD and EUR.

Minimum investment per trade is set at $10.

According to the information available, the payout can go up to 85% which is an attractive possibility for South Africans looking to make healthy profits.

Traders would be glad to know how this broker is connected with one of the best auto trading software in binary industry – Binary Options Robot.

OptionStars Trading Platform and Features

The next step in our OptionStars broker review is their trading platform, and it would seem that they make use of the Tradologic software which is one of the popular trading software on the market.

The trading platform itself is simple, easy to use and provides a clear overview so South African traders should not experience difficulties. However, if they need help, customer support service is on hand via Live Chat.

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!

OptionStars trading platform provides traders with a fine choice of trade options such as Digital, Range, Touch Up/Touch Down, Turbo, One Touch, Advanced as well as Forex and 5 Ticks.

In our OptionStars broker review, we also discovered traders have a great choice of expiry times. The expiry time range starts from extremely short 30 seconds of 60 seconds and stretches over 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours and 1 day.

Naturally, they also offer a great selection of underlying assets divided into currencies, stocks, commodities and indices. To inspect which underlying assets this broker has to offer, traders are encouraged to consult the “Asset Index” tab but we find the sheer number, more than 250, truly impressive.

Further enquiry in our OptionStars broker review took us to their available trading features and tools. As would be expected from a modern binary broker, they do offer a mobile trading app.

This is fantastic news for all busy South Africans who would also like to trade on the go.

The benefits of using the OptionStars mobile app are numerous and they stretch beyond the fact that traders have the opportunity to trade binaries regardless of their location. With a mobile trading app, they can also keep constant watch on the market and may execute more trades which also increases the possibility of profits.

OptionStars made sure that their mobile trading app is available for both iOS and Android device owners and it is possible to use it on tablets too. South African traders can download the app from both Google play and App Store and install it on their mobile device.

In our OptionStars broker review, we also found that they provide their traders with a demo account. Their customer support agent confirmed that their demo account is free and can be used once trades hold a real trading account with the broker. For further details, traders will be directed to their account manager.

Yet, this is great news for all interested South African traders as this is the perfect environment for practice.

The demo account has virtual funds instead of real ones which makes it a risk-free trading environment where traders needn’t worry about losing funds.

Instead, they can aim all their focus on testing various trade options, underlying assets and strategies. This can serve as a great introduction to binary options trading and provide traders with a valuable insight into the trading process itself.

While the demo account is not a trading tool but rather a feature, the practice and experience traders can gain in using it may increase the probability of making profits on the real trading account.

Additionally, in our OptionStars broker review, we can confirm this brokerage provides their traders with an Academy tab. It contains plenty of useful materials traders may use for educational purposes.

They also provide a detailed FAQ section which explains the most important aspects of trading binaries with OptionStars.

Their trading platform is available in following languages English, French, German, Italian, Russian, Arabic and Spanish.

OptionStars Trading Account Types

Aside from the already mentioned demo account, this broker also offers additional three types of trading accounts.

Our OptionStars review shows that South African traders have distinctly different features available with each account type.

OptionStars Broker Review

OptionStars offers an impressive selection of underlying assets to its customers around the world across the categories of futures, commodities, indices, stocks and currencies. With many ways of contacting their support team, including the instant chat method, their trading software is second to none. They also promise both existing and newly registered clients attractive bonus offers to improve their trading experience.

Review Overview

Bonuses – 50%
Software – 60%
Customer Support – 80%
Options Choice – 90%

Good quality broker

Summary : Very trusted broker

Intro

OptionStars is an online binary options broker that aims to make trading accessible to both those who are brand new to the financial markets and those who have pre-existing experience. Offering advanced charting capabilities and a speedy mobile trading platform, this broker has a lot to offer its clients. Their selection of underlying assets is extremely extensive and they offer a choice of three different account types, each with their own perks and benefits, so that clients can choose the right one to suit their requirements.

Company Information

OptionStars is part of a subsidiary company called New Markets SA based in Samoa. Although this broker does not appear to be licensed or regulated by any recognised body, it does state that it offers its clients segregated accounts for their better security and peace of mind. Clients are also insured up to 20,000 Euros in the event of a financial crisis. This broker does not accept clients from the USA, France or Turkey for trading on its website.

Assets Available

OptionStars has over 100 assets available for trading.

Bonuses & VIP Programs

Although OptionStars states in its terms and conditions that it offers bonuses to its existing and newly registered clients, there is no specific information provided about the form that these bonuses will take. However, it does state that there must be a trading volume of 40 times the deposit amount before any profits can be withdrawn from the client’s account. OptionStars also offers a higher level VIP trading account for its high volume clients. These clients can benefit from a few additional perks including access to an advanced level training course, a dedicated account manager and weekly one to one trading sessions.

Mobile

OptionStars offers a convenient 100% internet based trading interface which allows seamless and speedy access as well as fast trade execution without the need for any installations or downloads of memory intensive software. This also means that traders are not tied to their PC and can access their trading account and place trades from any internet enabled device as long as they are connected to the web from any location in the world and at any time. This broker also offers a convenient mobile app which can either be downloaded for free from the broker’s website or from the Google Play Store or Apple Play Store free of charge. Compatible with both Android and iOS devices, it allows traders to quickly place trades and access their accounts in the most convenient way from their tablet or smartphone while on the move and away from their desks, allowing them to take advantage of trading conditions at a moment’s notice.

Deposits and Withdrawals

OptionStars offers a limited range of payment options for making account deposits and withdrawals. These include:

Deposits via debit or credit card will appear in the client’s account immediately, however bank transfer deposits could take as long as 5 days to appear. The minimum deposit amount is 250 units of currency and withdrawals must be a minimum of 30 units or 300 if bank transfer is being use as the method of withdrawal. The are no limits imposed on the maximum amount that can be deposited. Withdrawals are requested quickly and easily through the client’s account and are processed speedily and safely within 5 working days. Clients enjoy the benefit of one free withdrawal per month, however a second withdrawal will have a fee of 30 currency units levied on it.

Customer Support

The OptionStars client support team are available between 7 am and 11 pm GMT on Monday to Thursday and between 7 am and 9 pm on a Friday. The team are not available at the weekends to respond to queries or address any issues. They can be contacted via a number of methods including by:

  • Live Chat
  • Web form
  • Telephone helplines in the UK and Germany
  • Email

Extra Features and Resources

OptionStars have a number of excellent features and resources available to its clients including educational resources like video courses. These are graded by level, so clients can have access to the one that suits their experience. Their Academy also offers other features such as an up to date economic calendar, market news and market summaries to allow clients to inform their future trades. This broker also promises advanced charting tools to improve the client’s trading experience.

Verdict

If you are considering choosing OptionStars as your preferred binary options broker, there are a number of positive factors to consider, however there are also some disadvantages too:

  • Cutting edge trading software that is suitable for use by both experienced and novice traders
  • 100% online trading interface requiring no installations or downloads
  • Mobile apps for iOS and Android devices
  • Instant customer support via the live chat facility
  • Telephone lines in the UK and Germany
  • Market news and insights available
  • Bonuses are available
  • Three types of account to choose from
  • Free educational resources for clients at all levels of experience
  • Advanced charting capabilities
  • Multilingual website
  • Segregated accounts
  • SSL encryption for transactions

  • Not regulated or licensed by any recognised authority
  • No e-Wallet payment options
  • Clients from the USA, France and Turkey are not accepted
  • No 24 hour customer support

What types of options can be traded through Options Bank?

This broker offers 4 different option products including:

  • Call/Put Options
  • Turbo Trading (30 seconds)
  • Range
  • One Touch

Can I trade with OptionStars using my mobile device?

Increasing numbers of traders are choosing to execute trades from their mobile devices like smartphones and tablets on a regular basis, so brokers like OptionStars are mobile optimising their platforms to ensure that they offer seamless access to trading accounts and trade executions from any internet enabled device through the provision of a 100% web based platform. As no software needs to be downloaded or installed, it is possible to use the online trading interface on any type of Android or iOS device from anywhere in the world. OptionStars also offers its clients a mobile app which can be downloaded free of charge to either an iOS or Android tablet or smartphone allowing for an even more convenient trading experience on the go.

Does OptionStars offer different account types?

OptionStars has three different types of account to suit the needs of both beginner investors and those with a lot of previous experience. Their Bronze account is designed for beginners and requires an account balance of between $1000 and $4999. This gives access to 1 trading strategy, weekly market reviews and a beginner’s trading course. Their Silver account requires a balance of between $5000 and $9,999. This comes with the additional benefits of 3 trading strategies, daily and weekly market reviews, access to the introductory video course and the advanced video course and the services of a dedicated account manager. Their top level Gold account requires an account balance of between $10,000 and $50,000 and offers 5 trading strategies together with daily and weekly market reviews, access to all video courses, the services of a dedicated account manager and weekly one to one trading sessions.

Does it cost anything to register with OptionStars?

It does not cost the client anything to register with OptionStars as their chosen binary options broker and there are no hidden fees or charges to worry about.

Which currencies can I use for trading with OptionStars?

OptionStars accepts five types of global currency for opening trading accounts for the convenience of its clients from all around the world. These include:

  • Euros
  • US Dollars
  • Pounds Sterling
  • Canadian Dollars
  • Australian Dollars

Once you have selected your account’s base currency it is no longer possible to change your currency to a different one at a later date.

OptionStarsGlobal.com Review

May 2020: There is an FPA Traders Court guilty votvote against this company. The FPA recommends CAUTION dealing with OptionStarsGlobal.com unless this issue is resolved.

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Consumer Reviews

I can share following (bad) experiences with optionstarsglobal.com
I opened an account there to trade binary options. I am a trader since 2020, so I would
call myself an advanced trader. When I got the “obligatory” call from one of their account
managers (he introduced hisself as James Morra) I clearly told him from the beginning
that I am an advanced trader and dont want any strategies or bonuses from his company.
I also clearly stated that I expect all necessary communication to be done via Email. My personal account manager, Mr. Morra, was very offending because he did not want to respect my wish to be contacted just via Email as I dont have the time to talk on phone.
He literarily told me that he is not working for a dating website so he will not write emails or books. I told him that he should respect my wish as client but he refused.

Then I started trading and gained profits (476,- EUR).
I decided to make a withdrawal of my initial deposit of 250,- EUR.
That withdrawal request was placed by me on 9.10.17 on their platform. Their terms and conditions say that it takes up to 7 business days for them to process the withdrawal. After that time passed my request was still in status “pending” so I started asking them questions (in chat and via email) why it was not processed yet.
They told me I should not worry as it will be processed really soon but still has to be reviewed.

So I waited another couple of days (until 19.10.17) and tried to check the status again.
I was not able to log in my account anymore. It was blocked. Right after that I went to the support chat to request a full explanation of their actions as I NEVER received any notification about them blocking/closing my account (as there was not even a reason for that apart that I made 476,- EUR profit).
All together I sent them several emails and had several attempts via support chat to solve this as I still have no idea why they just closed my account without any reason.

Having engaged this broker for the last three months in efforts to have my money refunded, I have now come to a definitive conclusion that it is a TRUE SCAM dealer.

When I first joined FPA back in June, I suspected that such was it’s status, after discerning certain things that did not seem quite right in the dealings.

After trading for some time by being thrown from one “account manager” to another, I demanded for my money refund, and even quite clearly put it that they could keep the profits.
It was than that very cunning games were embarked on by one Benjamin Thomas( I doubt it is his real name anyway!) . He turned me in to a pauper in a flash!

Having followed the FPA guidelines on, first engaging them for at least three times, it has eventually dawned very clearly that I have been scammed!

I will be providing the progressive details on my case, that I am proceeding to file on the Forex Trades Court.

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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