TopOption is a CySEC regulated binary options broker that operate under the company called Safecap Investments Limited. Established in 2012, the broker maintains a headquarter in Nicosi, Cyprus. It welcomes traders from all countries except traders based in USA or local traders from Cyprus.
Trading Platform
TopOption offers an optimized SpotOption platform that is completely web based. The trading platform lists more than 180 assets with many unique assets such as Brent Oil, US Treasury Bonds and Israel Shekel. There are a few types of options including classic, 60 seconds and option builder.
The highest payout you can earn is 85% and VIP traders are entitled to even higher payout rate. There are three short term expiry time frames to choose from including 60 seconds, 90 seconds and 120 seconds. TopOption does support a mobile platform that has no problem launching on iOS or Android platforms. Traders will have full control over the ratio of profits versus risk for every trade they place.
Types of Trading Account
TopOption offers 3 types of accounts including Starter, Pro, and VIP. Starter account only have a minimum deposit requirement of $100 so it is suitable for newbies traders who don’t yet have a lot of experiences in trading. With a Starter account, you can get access to the Starter guide and tutorial that offers introduction on the basics of binary options trading.
The Pro account has a minimum deposit requirement of $1,000 and is suitable for professional traders with more experiences in trading. If you have a pro account, you are entitled to receive a free 3 hour one on one training and a professional account manager.
The VIP account is also for professional traders but has a higher minimum deposit requirement of $5,000. For the VIP account, you can enjoy features such as unlimited one on one trading, specialist account manager, trading central report, and off trading support. Both Pro and VIP accounts get access to starter and advanced guides. You will be charged with a fee of $5 if your account has been inactive for over 90 days.
TopOption is offering a 50% bonus when you deposit $200 – $499 into your trading account. If you deposit at least $500, you will enjoy a 100% bonus. The requirement for withdrawing your bonus is that you must attain a trading volume that is at least 40 times of the bonus amount. The bonus promotion is not available to countries listed in the cash bonus terms and conditions.
Deposits/Withdrawals
TopOption accepts 3 types of payment methods for deposits and withdrawals including credit card, fast bank transfer and WebMoney. TopOption accepts 3 types of credit cards including Visa, MasterCard and Diners Club. If you want to see the funds in your trading account instantly, deposit by credit card is your best option.
Bank wire and WebMoney takes 2 hours – 2 business days to be processed. The minimum amount you can deposit into your account is $100 and the minimum trade size is $5. There is no fee when you deposit or withdraw funds from your account. It can take up to 7 days for you to see the funds you withdraw in your account after it is processed and approved.
Education Center
TopOption offers a comprehensive resource center that is equipped with video library, e-books and free webinars. The video library has a series of video tutorials that are designed for beginners and advanced traders. At the education center, you will find two free e-books that provide practical binary options trading tips for newbies.
Customer Support
TopOption offers customer support by telephone and email. They do not have live chat support but they offer telephone customer support for 21 countries around the world. The toll free telephone support is only available for 7 countries with the rest being regular telephone support. TopOption has separate emails for different department for example customer support, payment process department, verification department and etc.
Is TopOption a reliable broker?
In conclusion, TopOption is an attractive broker for traders who are looking for a secure broker as it is fully regulated by CySEC. On top of that, clients’ funds are insured under the Investor Compensation Fund for up to $20,000. TopOption offers an extensive resource source to help newbies traders get started in the binary options trading.