Our Review of OptionWeb
OptionWeb is an online binary options broker that aims to provide a trading platform that reduces the high risks that can be associated with online trading.
Account Types + Opening
There are six types of account that traders can open with OptionWeb. They range from the basic Starter Account which is aimed at beginners who want to get in to trading for the first time, to the Diamonds Account which is ideal for professional traders. Each of these different account types has different bonuses and features associated with it. For example, with the silver account there are 180 different assets to trade with and trades have a yield of up to 83%. It is also possible to open a free demo account in order to get to grips with the OptionWeb platform before making a commitment to a full account.
Promotions, Sign Up + Deposit Bonuses
In one sense, the bonuses that you get with OptionWeb will depend on the type of account that you hold, and these bonuses come in the form of unconditional guaranteed trades. Rather than simply having different bonuses that are attached to different account types, as many online brokers do, this broker also rewards loyal customers with additional bonuses as time goes on. There is also an initial sign up bonus which takes the form of guaranteed trades. For example, with an initial deposit of $250, traders get 10 guaranteed trades that are each worth $10.
Commissions and Fees
OptionWeb offers 'Commission Plans', which vary depending on the types of trades that are made. But, in general, returns range between 65% and 85%. Fees are also associated with withdrawals (these are $25 for a small withdrawal) and with maintaining some of the more high powered accounts.
Trading Platform Review & Mobile Apps
OptionWeb has yet to create a mobile app, and its trading platform feels much more basic than other more slick and contemporary looking
Deposits & Withdrawal Methods + Ease
There are six deposit methods with OptionWeb: credit or debit card, bank transfer, Skrill, Neteller, Neosurf and PaySafe. All of these methods excluding Neosurf and Paysafe can also be used for withdrawals. The speed with which your withdrawal is processed will depend on the type of account that you hold, though overall withdrawals will take between 5 days and 48 hours to arrive in your bank account.
Regulators & Safety: Are they a reliable, legitimate broker or a scam?
OptionWeb is a legitimate broker, and it is licensed and regulated by CySEC.