PowerOption Binary Options Broker
CySEC FSC SIBA BVI
PowerOption Brokerage Company is headquartered in the Seychelles. Trading service is provided by the platform built on the engine of a Cypriot SpotOption company. However, terms of trading, bonuses, options types and a list financial assets types seem to be copied from other companies. However, the quality of financial services is good enough and does not hide any pitfalls.
Priority of today's time for the company is the continued development and expansion of their service. That is, everything that we can see at the company today could possibly be getting even better colors tomorrow.
Terms of trading
- Profitability -from 65% to 100%
- Loss recovery – 0%
- Minimal deposit - 100$
- Minimal stake - 10$
- Demo account – Yes
- Mobile version – Yes
- Education – Yes
Registration process is not complicated. It consists of filling in the not so complicated electronic form.
Once you have entered your data, the company will add you to the list of its clients and only depositing foreign currency funds to the traders account separates him from trading. By the way, there are the following currencies to choose from: AUD, GBP, CHF, USD, EUR.
In addition, the clients will find almost all popular and affordable payment services available for account replenishment, since there are VISA and MASTERCARD, WebMoney electronic payments as well as other popular ways to replenish.
PowerOption Company trading platform is a well-known web terminal by SpotOption software developer. At the same time this platform is related to the most easy to use platforms. With that said novice traders will be able to start trading straight away while professional – to continue the process. First thing that attracts attention is a specific coloring of the terminal, which is done in accordance with the colors of the company’s website, in purple shades not straining your eyes and nerves.
The terminal is quick to respond to trading orders. At the same time, we note that in this case, there is one very useful feature at the platform – the ability to trade off the chart, which saves time and eliminates price quotes slippage.
The client trading has a high level of protection. However, all the information about public accounts and the amounts of deposited funds is protected at the level of bank secrecy.
The options selection is located in a separate window and when you switch between them the terminal "freezes" for a split second, but no longer than other platforms. Simultaneously, the disadvantage is that the platform has no resources to carry out the technical analysis of the asset. However, this problem exists in all similar types of terminals and is not the fault of the given brokerage company.
PowerOption platform has the following advantages:
- a good interface and intuitive access to functions;
- good selection of financial assets;
- a decent selection of options;
- secure trading with SSL protocol;
- off the charts asset trading availability;
- good response to trader’s orders.
PowerOption platform drawbacks:
- absence of technical analysis tools
- line type of asset chart only.
Financial assets selection
Selection of assets is in the golden mean, as there is not too much and not too few of them, exactly 60 items with 11 currency pairs, 24 stocks, 6 commodities and 19 indices which is just enough to build your own investment portfolio with risk diversification.
The company offers 100% bonus for funds deposit and 50% for subsequent replenishments.
Types of options
PowerOption Brokerage Company provides the following types of options to be traded by its clients:
- «Price above - below» is the classic type of a binary option, assuming a profit when properly predicting the future direction of the price movement of the asset selected.
- "One touch" is a type of option which profit depends on whether the price of an asset will touch a given in terms of the contract level or not.
- "Range" – it is an option with the levels above and below the price established in its terms. Making a profit with this type of option depends on the price crossing the specified limits or staying inside of them, that is what a trader must indicate when executing a trade.
Education process at PowerOption
Education at this broker relates to the high quality services and is provided to its customers in the form of a great video lessons, interactive books, webinars, as well as introductory articles and video reviews collection.
That is true that you will not find anything essentially new in the given service of the company, but at the same time everything provided at the “Education Centre” part of the website is executed on a decent level.
Professional level support 24/7
Company support professionalism is not a subject to doubt. No wonder that PowerOption is regulated by four financial institutions at once. With such level of control, it's hard not to have the accompanying services handled well. Thus, at the company's website in your individual traders account page you will gain an access to the online chat, e-mail exchange and to the call back paid by the company order function. Of course, the support is multi-language (including English). Therefore, customers will chat with experts in their own language.
Deposit and withdrawal of funds
Let us start with the fact that withdraw operations are conducted only after verifying the traders’ account by providing the company with the color scanned-copy of trader’s passport. There are enough available services for funds transferring. VISA and MasterCard banking services alongside Webmoney electronic system and less popular services are presented. Anyway those are enough to fund the deposit. The depositing is instant while withdraw takes 3 days. In most cases this delay is caused by the bank or payment service you use.
PowerOption pros and cons
PowerOption is a sufficiently professional operator of financial services, which is confirmed not only by the number of regulators, but also by the quality of the company trading and related services.
Let us state the broker’s advantages:
- minimal deposit – 100 USD;
- minimal stake – 10 USD;
- simple and intuitive trading platform;
- bonuses availability;
- security policy;
- standard selection of options;
- sufficient selection of funding methods;
- good education;
- news support service availability;
- professional support service.
Let us highlight the drawbacks:
- a lack of technical analysis tools in the terminal.
PowerOption Company is a broker with activity regulated by four authorities at once. This disciplined and forced broker to create an excellent level of support and accompanying service on its website. Trading conditions are on par with high-quality and does not depress any novice or professional traders. The only drawback of service is a trading platform being too simple and unavailable to be used for technical analysis.