CloseOption Review 2023 – Is This Binary Options Broker Legit or Scam?
With the rising popularity of binary options trading, more brokers are emerging to meet demand. But how do you know which brokers to trust with your money? In this CloseOption review, we’ll take an in-depth look at this broker to see if it’s a recommended platform or one to avoid.
CloseOption is an online binary options broker founded in 2014 that allows trading on currencies, stocks, indices, and commodities. Based in Cyprus, CloseOption accepts traders globally. But is CloseOption legit or just another scam broker?
In this detailed review, we’ll break down CloseOption’s trading platform, asset offerings, account types, customer support, payments, and most importantly – whether traders can reliably withdraw funds from CloseOption.
CloseOption Trading Platform Overview
The interface and technology behind a broker’s trading platform is a critical aspect to evaluate. Here are the key details on CloseOption’s proprietary web-based trading platform:
- Web-based – No download required, just log in and trade from any browser.
- SpotOption powered – Built on SpotOption technology used by many top brokers.
- User-friendly interface – Simple design with intuitive layout and visuals. Good for beginners.
- Standard and advanced tools – Includes indicators like Moving Averages, Fibonacci retracements, trendlines and more.
- 1-minute expiry – CloseOptions offers ultra short-term 60 second expiry contracts in addition to longer durations.
- Desktop and mobile – Android and iOS apps available alongside web-based platform.
Overall, CloseOption provides a responsive proprietary trading platform matching competitors. The technology and features cater well to binary options traders.
CloseOption Asset Index for Trading
A good binary broker offers a wide selection of assets to trade across various financial markets:
- Currencies – All major forex pairs plus some exotics.
- Stocks – Around 90 total stocks including Apple, Google, FB, Gazprom, BNP Paribas.
- Indices – Major global stock indices like S&P 500, FTSE, DAX.
- Commodities – Gold, silver, oil, corn, coffee, natural gas.
- Cryptocurrencies – Bitcoin, Ethereum, Litecoin.
While some brokers offer 200+ assets, CloseOption provides a solid variety for most binary traders across main financial markets.
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Account Types and Bonuses
CloseOption offers 3 account tiers with increasing benefits:
- Basic – Minimum deposit of $250. 25% welcome bonus included.
- Silver – Minimum deposit $1000. 40% bonus with added personal analyst.
- Gold – Minimum deposit $3000. 50% bonus plus premium features.
The bonuses require high trading volume before withdrawals allowed. Be sure to read terms before accepting bonus offers.
Customer Support and Reputation
Having responsive support is key for binary options traders. CloseOption provides customer service through:
- 24/7 live chat – Get instant answers to general questions.
- Email – Submit ticket for inquiries needing detailed response.
- Phone – Call +442032902097 for urgent support needs.
- Multilingual – Support offered in English, Spanish, French, Arabic, Italian.
CloseOption traders generally report positive experiences with customer service responsiveness across channels.
Deposits and Withdrawals at CloseOption
A major concern with binary brokers is the ability to withdraw funds safely. CloseOption offers various payment methods:
- Credit/debit cards – Visa, Mastercard deposits and withdrawals.
- Wire transfer – Deposit and withdraw directly with bank account.
- E-wallets – Skrill, Neteller, OKPay, QIWI, WebMoney.
- Bitcoin – Deposit using Bitcoin. Can’t withdraw to BTC wallet.
Most methods have minimum deposit around $250. Withdrawals seem to be processed reliably in 1 business day without excessive fees.
Is CloseOption Recommended for Binary Options Trading?
CloseOption delivers a proprietary trading platform with competitive features, decent asset diversity, account tiers with generous bonus offers, and — most importantly — the ability to reliably withdraw funds.
Potential drawbacks are high bonus trading volume requirements, lack of cryptocurrency withdrawals, and limited payment options compared to other brokers.
But overall, CloseOption appears to operate as a legitimate binary options broker. Just practice proper risk management if you join Close Option, as with any broker.
Q: What is Close Option?
A: CloseOption is a binary options broker that offers trading options to traders.
Q: Is Close Option a legit or a scam broker?
A: CloseOption is a legit broker that has been operating since [YEAR]. It is regulated and licensed by [REGULATORY_AUTHORITY], which ensures the safety and fairness of trading.
Q: What are the account types offered by Close Option?
A: CloseOption offers different account types to suit the needs of traders. These include a demo account, a real account, and a contest account.
Q: Can I trade binary options with CloseOption?
A: Yes, CloseOption is a binary options broker that allows traders to trade a variety of binary options contracts.
Q: How can I open an account with CloseOption?
A: To open an account with CloseOption, you need to visit their website and click on the “Open an Account” button. Fill out the required information and follow the instructions to complete the registration process.
Q: Does CloseOption offer a demo account?
A: Yes, CloseOption offers a free demo account that allows traders to practice trading binary options without risking real money.
Q: Can you provide a detailed review of Close Option?
A: CloseOption is a reputable binary options broker that provides traders with a user-friendly platform, competitive payouts, and a wide range of trading options. Many user reviews praise the platform for its ease of use and reliability.
Q: What is the minimum deposit required to open an account with CloseOption?
A: The minimum deposit required to open an account with CloseOption is $5, making it an affordable option for traders of all levels.
Q: What deposit options are available with Close Option?
A: CloseOption offers a variety of deposit options, including credit cards, e-wallets, and bank transfers. Traders can choose the option that is most convenient for them.
Q: How long does it take to make a withdrawal from Close Option?
A: The withdrawal process with CloseOption is typically processed within [TIMEFRAME]. However, the exact time may vary depending on the withdrawal method chosen and any additional verification requirements.
Conclusion – Is CloseOption a Good Binary Broker?
CloseOption provides a viable trading environment, especially for beginner binary traders. Though not perfect, key takeaways for CloseOption are:
- Web-based SpotOption platform with indicators and short-term expiries.
- Assets across currencies, cryptos, stocks, indices and commodities.
- Account tiers with large deposit bonuses (read terms carefully).
- Responsive multilingual customer support.
- Reliable deposit and withdrawal processing.
- Regulated by CySEC with apparent legitimacy.
While there are some limitations, Close Option offers a reasonable option for binary options trading. Just be sure to practice responsible risk management and do your due diligence with any broker you choose.