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High/Low, Short Term, StrategiX (this includes High/Low, Range, One Touch and No Touch)
Customer Support Types
Live chat, telephone, web form, email, paper mail
Basic how-to articles and videos, FAQ, free eBook, one-on-one training
Market reviews, account manager, double up, rollover, early close
$30 fees for wire transfers, no withdrawal minimums
English, Russian, French, Arabic
MyOption is a Cyprus-based binary options broker with a TradeSmarter platform and some interesting features. While they are by no means perfect (they are missing a demo account, they have flexible withdrawal terms and many different ways to trade. While they are definitely a mixed bag, they may appeal to traders looking for a fee-free withdrawal structure and a rather rare platform.
You can join MyOption in a matter of minutes and select an account tier that suits you. MyOption is not regulated, but they do not accept traders from the USA. They accept a ton of different deposit options, including credit or debit card, wire transfer, Mister Cash, Lightstreamer, iDeal, CashU, WebMoney, QIWI and Skrill. You can choose from four account currencies: US Dollar, Euro, British Pound, or Australian Dollar.
The initial deposit is $200 or the equivalent in your currency, and you can choose from one of three different account tiers. The lowest tier is Silver (for deposits up to $999). This includes market updates on a daily basis, an account manager, full time support, and a welcome bonus up to 20%. At the next tier, Gold (for deposits between $1,000 and $2,499), you get a free eBook and a higher welcome bonus of 30%. If you deposit $2,500 or more, you get a Platinum account. This includes premium one-on-one training as well as a welcome bonus of 40%.
MyOption is a bit stingy when it comes to resources. There isn’t much on the site except for how-to articles and an FAQ. There is a selection of “Training Videos,” which turns out to only be two videos, and neither teaches you anything technical about trading. Not offering a free eBook until the Gold level seems quite silly; this is something most brokers give away without you even needing to make a deposit. None of this is a deal breaker, but it would be nice if they provided more resources.
You may be thinking that 40% is a bit parsimonious for a bonus as well, but this actually is nothing to complain about. Generally speaking, most binary options brokers offer bonuses which are almost ludicrously high. Achieving the turnover is very difficult, and the unrealistically large sums of “free” money offered by these brokers call their intentions into question. 40% is a more reasonable, believable amount, and speaks toward the broker’s likely good intentions.
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One of the best things about MyOption is the fact that you are free to withdraw your money whenever you want without consequence. Most brokers charge lots of withdrawal fees, and require that you withdraw a certain minimum, typically around $100 or even $200. MyOption only charges fees for wire transfers ($30). If you use another withdrawal method, you can withdraw as often as you need to without paying any fees. There is no withdrawal minimum threshold, so you can withdraw as much or little as you want at a time, even $1. This flexibility is exceedingly rare, and very welcome in an industry where it can be notoriously hard to get your own money back in your bank account.
MyOption Trading Platform
MyOption uses the Tradesmarter platform. On first glance, it appears quite similar to SpotOption or any other familiar white label platform. Across the top, you will see currencies, stocks, commodities and indices (there are 48 in all). To the side of those options, you can select different layouts, which is a very nice feature, especially since one of them includes candlestick charts. These are some of the nicer, easier-to-read charts I have seen on a binary options platform. They could be improved with indicators, but they offer more than the typical squiggly line.
On the platform, you can also choose how you want to trade. Along with High/Low, you will see 60 Seconds and “StrategiX.” If you select “60 Seconds,” you will actually be offered a range of Short Term trading opportunities from 30 seconds to 5 minutes. One thing which is not so great here is that trades start out at $10 for Short Term trades and $25 for other types of trades. This is a bit steep, considering that Short Term trades are risky, and most brokers start them out at $5. You can trade up to $5,000.
What is StrategiX? Select this and you will be taken to a second trading window which offers you a selection of additional trade types, including Above/Below, Range, One Touch and No Touch. You can specify a timeframe and a strike distance. This is an exciting customizable platform feature, and opens up even more trading possibilities. Early close, rollover and double up are also available, and allow you to control your trade when it is in progress.
Conclusion: Cautiously Worth Considering
MyOption has its pros and cons, and it is by no means perfect. The broker could be much better if they offered a demo account, and not just a single risk-free trade. They could benefit from lowering their minimum trade amounts a bit, and they could use some additional training resources. Their customer service team could be more responsive; the live chat desk does not appear to be staffed at all, and that is a major concern.
While that may seem like quite a few complaints, consider the positives. MyOption is one of the few binary options brokers out there that will not charge you fees for withdrawals or require you to withdraw $100 or more if you ever want to see your money again. They have a great and generally well-designed trading platform that offers a number of different trade types and customization features. They look to be different from their competitors, and seem to be doing what they can to stand out. While this is not enough to give them a solid recommendation, they are worth a cautious closer look if you are searching for a broker with friendlier terms for withdrawals.
MyOption , 10.0 out of 10 based on 2 ratings
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MyOption login is simple, safe and easy. MyOption binary broker will always keep their traders’ login information secret and confidential. It is an easy to use platform founded by putting newcomers and advanced traders into consideration. The pleasant feeling that MyOption tries to achieve stretches from personal touch to trading over interesting technical solutions to effortless trading and social network for traders.
MyOption binary options broker is created with the goal of bringing integrity and high technology to the binary options trading world. Login and registration with MyOption binary options broker is just stress free. Traders just need to supply their data for initial registration. It is during registration that a trader will create MyOption login information. However, this broker will need to confirm all data provided and an email will be forwarded to the account owner to activate the account.It will not take more than 24 hours to conclude this process.
After that, traders should choose either wire transfer or credit card for their transactions. Moreover, traders get a government issued ID with a photo, photocopy of the credit card and some personal/residence bill alongside their full names and addresses. What makes MyOption different from other binary options platforms or traders in the market is that the company does not have account types to choose from.
They have a demo account and a minimum deposit of $250 facility. In addition to the MyOption login information that traders will have access to upon registration, this binary options broker has a special promotion concerning bonuses. Their bonus rate is 100% and up to $10,000 limit. They also have trade options including One Touch, high/low and Boundary and their asset list is very appealing.
The trading platform of MyOption can easily be accessed on Android and iPhone at any time. The education center of this platform free for use by trader whenever they wish, video courses and e-books are at traders’ disposal while customer assistance and support is second to customer satisfaction.
After MyOption login, traders can deposit funds with credit cards or bank wire. Withdrawal process is also checked thoroughly to protect the safety and security of their clients. This process can take almost five working days to be concluded. There is nothing a trader needs that MyOption will not offer. Binary options traders looking for a safe and perfect platform to trade should register with this binary option broker now to enjoy their benefits on a platter of gold.
MyOption Minimum Deposit
MyOption minimum deposit gives binary options traders the ability to begin binary options trading with as low as $200, EUR or GBP, depending on the trading currency. With this development, both beginner and advanced traders in binary options are able to make a second income without exposing themselves to huge deposits or pay brokers fees for handling their portfolio.
This minimum amount deposit amount applies to any of credit or debit cards, Ukash, MoneyBookers and Liberty Reserve. Traders must note that they can only use each account to transact a single currency that they selected during registration. It is not possible to modify the currency in the account once the initial deposit is made.
The Platinum account requires a minimum deposit of $10,000; Gold needs a minimum deposit of $5,000 while the Silver account requires just a minimum deposit of $2,000. Traders should be aware that all deposit limits are subject to change at any time and without any prior notice by MyOption.
To make MyOption minimum deposit, binary options traders will first log into their MyOption account with their email and password at the top right angle of their trading platform page. Then click on the Deposit button.
MyOption provides several methods for making minimum deposit including a broad range of: Credit and Debit Cards such as Master card debit, Maestro International, Visa, MasterCard, Visa Electron, Dinners Club, JCB, Dankort, Carte Bleue, CartaSi, Discover and Laser. Bank Transfer – this is a quick bank transfer service by means of Envoy Services – company registered in the United Kingdom and regulated by the FSA.
MyOption minimum deposit using bank transfer is 500 USD, EUR or GBP depending on your trading currency. Verification of a wire transfer may take up to 5 days.
MyOption support is helpful in a situation where traders request to be assisted in making their deposit via email or Live Chat.
MyOption Mobile Trading
MyOption mobile apps now make it possible for binary options traders to trade binary on Android or iPhone applications. Trading with mobile apps is convenient. Traders are able to conveniently trade binary options on their mobile devices with MyOption trading services as the new era of mobile capacity has come. Binary options traders across the globe have now moved into a technological phase where mobile devices have become an absolute necessity.
This new method of exchanging information is far better than the method used in the past because all that people need is in their palm. MyOption mobile for traders will offer them fast and easy access to their binary trading accounts. Traders are able to access their account, keep an eye on the market situations and then execute trades whenever there are lucrative opportunities, regardless of their location.
On the other hand, traders are now able to trade at high aptitude with the full functionality of this mobile trading platform, regardless of their location and time by just using their mobile phone.
Steps to Accessing MyOption mobile trading platform
Step 1 Launch the internet browser on your mobile phone and go to www.myoption.com
Step 2 Find and choose the type of instrument you want to trade including Touch, High/Low or Boundary.
Step 3 Pick the preferred asset for your trade from the asset list of MyOption. This list is updated depending on the available tradable options at any point in time.
Step 4 Choose the projected direction of the option, once you have chosen your asset.
Step 5 Choose the preferred amount of investment in your option. Traders may then click on “Buy” to carry out their trade. Once concluded, trader may observe all his trades from “My Open Trades” tab located on their home screen.
Traders who forecast that asset price at expiration will be higher than the price at which they purchased the option should choose “High” Pick “Low” if you predict that asset price at expiration will be lower than the price at which you bought the option. Choose “Touch” if you predict that the target price of the asset will be reached before its expiration time. Opt for “No Touch” option if your prediction is that the target price of your asset will not have been reached prior to the expiry time of the option. For the boundary Options Choose “In” if you project that the target price of your asset will remain in the predetermined boundaries at the expiry of the option.
In the history of binary options trading, MyOption USA traders have been very loyal customers to the site since it was established in 2020. Binary options traders from the United States of America take pleasure in the services provided by MyOption binary broker. In a nutshell, they are happy that the site accepts binary options traders from their country and offers them various features.
They also realized the fact that not too many binary option brokers accept traders from the United States. Therefore, MyOption is very popular among the American binary options traders for the reason that it is one of the few sites that allow them to become members and offer them opportunity of making money through binary options trade.
MyOption USA traders don’t have a separate site as they can access the same English version of the website. Therefore, they have access to the same quality features that the popular traders in the whole world enjoy. They never wanted a separate site that lacks the quality features of the original site. Rather, they gain access to all the features of the site and have to make the same amount of deposit, usually in their own currency like binary options traders from other countries.
MyOption USA offer the traders the chance to trade in a variety of assets and also get in touch with the support team of the broker anytime they need clarifications on certain trading issues. The majority of the binary options traders from the United States agreed that operating an account with MyOption USA is one of the best choices that binary option traders from that country have made.
Good enough, they never feel neglected on the platform but feel appreciated to use their service. Even in a situation where they lose a couple of trades, 10% reimbursement is still available to assist them stay float. In occasions when they win, there is still up to 81% payments available for them to build their trading portfolio faster. In addition, safety, reliability and security of the site are other factors that attract these binary options traders from the US to open account with MyOption broker.
The excellent customer support is another great thing that binary options traders from USA like about MyOtion USA. They are happy that they can contact the support team 24/7 on phone, email as well as quick response. Earnings withdrawal from MyOption broker is also convenient and USA traders can withdraw their earnings in US dollars. Consequently, they do not have to lose money on exchange rates that fluctuate tremendously.
It is very important to look at how MyOption withdrawal process works because banking is the core of this binary option broker. Since investors don’t like waiting for so long time to get their profits, they are interested in the process.
To begin a wthdrawal, users need to complete the withdrawal form in their account control panel by clicking on « My Account » tab. Everything above the initial deposit must be sent by a different method other than the one used when making initial deposit, if the profits are higher than the initial deposit.
Users will see why MyOPtion is really a great broker after sending out the withdrawal request. It normally takes 5 days from the day the request was made to the point when the funds arrives the users account. More often than not, it takes much more as some brokers need just two days to process the request. However, if users verify their accounts before withdrawing, all requests will be faster.
To customers are advised to send copies of their ID, utility bill and credit card for verification in order for the brokers to be 100 percent sure of the person receiving the funds.
One thing that makes MyOption withdrawal process great is that it always takes 3 days and this is in line with the industry. However, users must send their ID verification documents, when making initial deposit, so that withdrawals will take less time to process.
MyOption will offer bonuses to its users, but will make sure that they are not withdrawn immediately they are awarded. The rule is that users must hit a particular turnover target with the bonus funds, before such bonus can be withdrawn. MyOption offers 25 x ratios, which is considered one of the lowest, making it a fair withdrawal policy.
There is quite a number of binary options brokers across the world but one is more distinguished than the other. Traders must understand that safety of their funds is paramount to trading binary options. This is why they must take their time to research for the best broker like MyOption. Its withdrawal process is simple and takes less time compared to other brokers.
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