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Editor Rating
- 5/5 – Excellent
- OptionRally.com review
- Website: http://www.optionrally.com/
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Review Summary:
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It’s easy to see why the popularity of online binary option is increasing. Binary trading is flexible and straightforward to understand. A binary option is a trading instrument with a fixed return that is determined at the outset of the trade. If the prediction is right, the trader receives an agreed upon payout. If the trader is wrong, then the person only loses the initial stake. With so many online binary trading platforms sprouting up, it can be difficult for one to select the type that is the best to utilize. One such binary trader that is gaining traction in the marketplace is OptionRally.com.
Table of contents
About OptionRally
OptionRally is not just another quality broker, but is one of the first brokers to offer its customers:
• Mobile application
• TV channel
• Large variety of stocks opportunities
Having the biggest part of its tools designed for currency pairs makes its platform perfect for any type of trader. Establihed in 2011, and headquartered in Cyprus, OptionRally also has offices all around Europe including UK. It works in collaboration with SpotOption to provide an easy and stable trading platform. The company also has the backing of highly experienced financial professionals who push the company forward in areas of risk management, investment technology and mobile trading. In addition, as mentioned above, OptionRally is one of the first binary traders to branch out into other mediums and as such are touted as one of the most innovative and forward thinking broker. The company runs a TV channel on YouTube to deliver the latest market news combined with trading advice on all kind of assets.
Top Features Of OptionRally
OptionRally may not be one of the veteran binary options brokers in the space, but they are off to a really strong start. Through offering the features that traders want most, many people are making the decision to partner with this broker. The platform is solid, as is a transportable trading platform. Reasonable terms and conditions, plenty of tools, trade types, assets, and first-rate customer service round out the package. Those who are considering partnering with OptionRally should proceed with confidence. Let’s delve into some of the key features that help make OptionRally stand apart from others in the space.
OptionRally now accepts US traders and comes highly recommend for European and Arabic traders since the service has already been widely available in these markets. OptionRally has a special account type for Arabic traders that comply with religious traditions that some Muslims live by.
The OptionRally platform is available in three languages including English, Arabic, Turkish and Chinese. Single and grid trade views are available, with all the information about each trade provided within each window. Navigation between asset classes is easy, as one click will present all the options currently available within the asset type. Once a binary options trade has been selected, it can be executed within three steps.
In order to keep up with binary traders busy lifestyle, the service is also available on a mobile app. This is a key differentiating feature for the platform and service since it is one of the first binary traders in the space to offer this. The app is available for download on smartphones and tablets and there is no cost to download the app. The design of the app is just as simple as the standard platform, which makes the platform easy enough to use and comprehend. It is somewhat uncommon for newer binary options brokers to offer mobile trading, therefore OptionRally gets high marks in this area.
Lastly, OptionRally includes a feature that is really currently unmatched in the trading industry. In addition to the Reuters live financial data and news feeds, OptionRally offers a most impressive educational section, which acts almost as one’s personal virtual trading broker. Through a special tab within the interface, users are provided with video tutorials, webinars, and much more. An economic calendar, daily and weekly market reviews, and “How To Trade” section are also provided. One-on-one training is also even offered should one feel the need to take advantage of this. All of these features are designed to help binary brokers be better, smarter and more effective traders. Binary options brokers, especially at no additional cost, rarely offer this. This service is really invaluable to those who use the service and as such is something that one should use. The type of advice and resources available here typically would cost a good amount of money otherwise.
OptionRally Prices
Speaking of money, the minimum trade amount on each trade with OptionRally is $25, with the maximum being $1,000. Though there is a maximum in place, those who wish to invest more than $1,000 do have the option to purchase the same identical contract more than once.
There is no cost to register with OptionRally. The minimum deposit required to begin trading is set at only $200. Re-deposits, if needed, will also need to be $200 or greater. Deposit methods include bank wire transfer, credit card, Knet ATM cards, and CashU. There are no maximum deposit amounts set at this time.
Wire transfer and credit card are the two available methods of withdrawal. The minimum withdrawal amount is set a $100, but receiving the money is usually fairly quick. OptionRally offers a fast processing time of 2 business days, with an additional 5-10 days needing to be allowed for the funds to be placed into the designated account. There are no fees charged by OptionRally for withdrawal. However, those who choose to withdraw using bank wire will incur the $25 fee that is charged by banks on such transactions.
Criticisms Of OptionRally
As a new platform in binary trading space, OptionRally has many positive attributes, but there are still some areas where the platform falls a little short. Firstly, the average payout rate settles out around 8% which is not very high compared to the competition. The highest initial bonus is 30% and available only for large VIP accounts, mini accounts are left with 15% as the highest bonus possible. The platform also is very credible and reliable but it’s not too advanced in terms of innovation. Yes, while the platform does have a mobile app and is overall technologically advanced, compared to other platforms in the space its interface is not very thorough or as easy to navigate which leaves something to be desired from the user. This can easily be improved with just a few tweaks and a system-wide update. Most likely the company is already aware that it needs make some updates in order for it to stay fresh, up-to-date and competitive in the space.
Customer Support
OptionRally offers customer service and support that is slightly above average to other binary traders in the space. The service allows customers to contact the company via phone, email, or live chat. Turnaround times are usually fairy decent. Live chat and calls are replied within a minute, which is much quicker than using email that takes a few days. In addition to English, OptionRally’s also provide support for several languages namely French, Arabic and German. The site also lists phone numbers for all countries where the trading system is available, which makes it convenient for all.
The Final Say
In this competitive trading market, OptionRally really separates itself apart from other brokers with their unique features like the app for iPhone and iPad. Even though the service may be a newcomer to the space, they have achieved a lot of success in a short period of time. Rivals in the space can’t help but envy. With their effective strategies, OptionRally is believed to go further on their chosen road.
