CloseOption Review

Broker	CloseOption
Company Name	CloseOption LLC
Headquarters	Georgia
Regulation	National Bank of Georgia (B 2-08/3647)
US Traders Accepted
Max Payout	95%
Bonus	$10 Welcome Bonus
Trading Platform	Proprietary web-based platform
Trading app	No
Demo Account	Yes, unrestricted
Early Closure	No
Deposit Options	PayPal, Perfect Money, Cryptocurrencies
Deposit Currencies	US dollar
Minimum Deposit	$5
Minimum Trade	$1
Maximum Trade	$1,000
Online Since	2015
Trading Instruments	Currencies (Forex): AUD/JPY, AUD/USD, CAD/CHF, EUR/AUD, EUR/CAD, EUR/JPY, EUR/NZD, EUR/USD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/NOK; Cryptocurrencies: BCH/USD, ETH/USD, LTC/USD, XBT/USD
Number of Trading Instruments	21
Binary Option Types	Call/Put, 60-second options, 30-second options, long-term options
Customer Support Types	Phone, email, ticket (web form), live chat
Tools Offered	Chart drawing tools
Awards	None
Languages	English

CloseOption is a binary trading broker established in 2015 and registered in Georgia. It operates under the license of the National Bank of Georgia, which allows it to engage in options trading and Forex activities. This broker offers a unique, proprietary web-based trading platform that provides a wide range of binary options trading features to both novice and experienced traders.

One of the most appealing aspects of CloseOption is its accessible trading options, which include common call and put binary options. The platform also supports a variety of expiration periods ranging from 30 seconds to one month, making it suitable for traders with different strategies and timeframes.

Opening an account with CloseOption is designed to be user-friendly, with a minimum deposit requirement of only $5. Furthermore, traders can start utilizing a demo account immediately after registration, allowing them to familiarize themselves with the platform without any financial risk. This demo option is unrestricted, offering ample time for practice before transitioning to live trading.

In terms of customer service, CloseOption provides comprehensive support through various channels, including phone, email, and live chat. It also offers educational resources to help traders enhance their understanding of binary options trading. Overall, CloseOption presents a robust platform for those interested in binary trading.

Advantages:

– User-friendly platform: Quick login and simple interface for trading.

– Low minimum deposit: Start trading with just $5.

– Diverse funding options: Includes PayPal, Perfect Money, and various cryptocurrencies.

– Comprehensive educational resources: Offers training materials for beginners.

– 24/7 customer support: Responsive service available through multiple channels.

Disadvantages:

– Limited option types: Only provides Call and Put options.

– Basic platform features: Lacks advanced trading tools or technical indicators.

– Withdrawal fees: Cryptocurrency withdrawals incur a network fee.

– Regulatory concerns: Not regulated by major financial authorities.

– High withdrawal threshold: Minimum withdrawal may be cumbersome for some users.

In this comprehensive review, we will explore the various features and offerings of CloseOption, a binary options broker that has been in operation since 2015. We will delve into its trading platforms, account opening process, available trading instruments, customer support, education resources, and the overall user experience. Understanding these aspects will allow traders to determine whether CloseOption aligns with their trading needs and goals.

Overview of CloseOption

CloseOption is a binary trading broker registered in Georgia, Eastern Europe. It has established itself in the trading industry by offering a diverse selection of options trading, primarily focusing on call and put binary options. The broker primarily attracts new traders due to its straightforward account setup, minimal deposit requirements, and a user-centric trading platform.

Key Features of CloseOption

This section takes a closer look at the main features that define CloseOption as a trading platform.

Trading Platform

CloseOption operates its own proprietary web-based trading platform that is designed with user-friendliness in mind. The platform is equipped with a streamlined interface that allows users to execute trades efficiently. Although it lacks sophisticated tools such as technical indicators and algorithmic trading features, the platform compensates for this with the provision of fast execution speeds and customizable quick-trade buttons. The charting tools, though basic, enable users to conduct a quick overview of their selected instruments.

Available Trading Instruments

CloseOption provides a variety of trading instruments that include forex pairs and cryptocurrencies. The broker features 21 distinct trading instruments divided into two primary categories:

• Currencies (Forex): This includes pairs such as AUD/USD, EUR/USD, GBP/CAD, and USD/JPY.
• Cryptocurrencies: Options available include BCH/USD, ETH/USD, LTC/USD, and XBT/USD.

These options cater to both forex traders and those interested in the cryptocurrency space, providing flexibility to the trading approach.

Trading Options and Expiry Times

CloseOption offers various binary option types, including Call/Put and options with shorter expiry durations like 60-second and 30-second options. There are also long-term options with expiry periods extending up to one month. This wide choice allows traders to select options that align with either short-term strategies or long-term investment perspectives.

Account Management

Opening an Account

The process of opening a CloseOption account is straightforward and user-friendly. There is no obligatory verification needed to start trading, although KYC verification is required for users who wish to withdraw funds. Upon basic registration completion, traders can begin utilizing a demo account immediately, which comes unrestricted, allowing ample time for practice and familiarization with the platform before moving to real account trading. The minimum deposit requirement is set at just $5, making it accessible for many new traders.

Deposit Methods and Currencies

CloseOption supports various deposit options, providing flexibility to its users. Deposits can be made using:

• PayPal
• Perfect Money
• Cryptocurrencies: Including Bitcoin, Ethereum, USDT, Ripple, Dash, and BCH.

The accepted currency for deposits is the US dollar. This range of options allows traders to select the method that best suits their financial habits and preferences.

Withdrawal Processes

Withdrawing funds from CloseOption is generally efficient. However, it should be noted that different withdrawal methods may incur varying fees. Withdrawals via PayPal and Perfect Money are free of charge, while cryptocurrency withdrawals may involve a network fee. For wire transfers, a standard fee of $100 is applied. Users withdrawing larger sums may experience faster transaction speeds, especially with amounts exceeding $2000.

Customer Support and Education

Customer Support Accessibility

CloseOption prides itself on offering exceptional customer support that is readily accessible. Users can reach out for assistance 24/7 through various channels, including:

• Phone
• Email
• Ticket System (web form)
• Live Chat

This level of support is particularly beneficial for traders who may have urgent questions or concerns regarding their accounts or trades.

Educational Resources

CloseOption also provides a wealth of educational materials aimed at helping traders develop their skills. These resources cover essential concepts such as the basics of binary options trading, trading strategies, market analysis, risk management techniques, trading psychology, and platform training. Such comprehensive educational tools are particularly advantageous for novice traders looking to gain knowledge and confidence in their trading decisions.

Contests and Bonuses

As part of its commitment to enhancing user engagement, CloseOption frequently conducts contests where traders can compete for attractive cash prizes. New traders can benefit from a welcome bonus, which in the case of CloseOption is valued at $10. The platform also occasionally announces deposit bonuses and promotional campaigns for existing traders. These additional incentives serve to amplify the overall trading experience.

Regulation and Safety

CloseOption adheres to regulatory standards set by the National Bank of Georgia, which grants them permission to operate within the binary options and forex trading sectors. This regulatory compliance contributes to the broker’s credibility and ensures that users can trade with peace of mind.

User Experience and Satisfaction

The overall user experience on CloseOption is enhanced by its streamlined trading platform, responsive customer support, and effective educational offerings. While some reviews mention concerns regarding regulatory scrutiny, many users highlight the ease of trading and withdrawal processes. CloseOption’s customization options for trades and the availability of a demo account serve as significant advantages for both new and experienced traders.

Overall, CloseOption presents itself as a compelling choice for traders aiming to delve into the world of binary options. From an intuitive trading platform to a well-structured support system and educational resources, this broker has captured essential elements conducive to effective trading. Its offerings are particularly suitable for newcomers, allowing them to start trading with minimal barriers. As with any trading endeavor, individuals should perform their due diligence to ensure that their trading practices align with their financial goals and risk tolerance.

CloseOption is a binary trading broker registered in Georgia, operational since 2015. It offers a user-friendly proprietary trading platform allowing traders to engage in call and put binary options with a company-regulated environment. New traders benefit from an easy account opening process, starting with a minimum deposit of just $5, and can practice using an unrestricted demo account.

CloseOption accepts various deposit methods, including PayPal, Perfect Money, and cryptocurrencies. Although it specializes in classic binary option types, the platform provides customizable features for quick trades and durations ranging from 30 seconds to a month. Customer support is accessible 24/7 through multiple channels, complemented by educational resources to enhance traders’ understanding of binary options.

With regulatory oversight from the National Bank of Georgia, CloseOption ensures a secure trading environment with competitive max payouts of up to 95%.

Frequently Asked Questions about CloseOption

What is CloseOption?

CloseOption is a binary trading broker based in Georgia, operational since 2015, offering a user-friendly web platform.

Is CloseOption regulated?

Yes, CloseOption is licensed by the National Bank of Georgia, providing a level of regulatory oversight.

How do I open an account with CloseOption?

Account opening is simple; just fill in the registration form. KYC verification is needed for full access.

What is the minimum deposit required?

The minimum deposit to start trading on CloseOption is just $5.

Can I trade using cryptocurrencies?

Yes, CloseOption accepts various cryptocurrencies, including Bitcoin and Ethereum, for deposits.

What trading options does CloseOption offer?

CloseOption provides classic Call and Put options with expiration periods ranging from 30 seconds to 1 month.

Is there a demo account available?

Yes, CloseOption offers an unrestricted demo account, allowing users to practice before trading live.

What types of customer support are available?

Customer support is available 24/7 through phone, email, live chat, and a support ticket system.

What educational resources does CloseOption provide?

CloseOption offers a wealth of educational materials covering trading basics, strategies, and market analysis.

Are there any bonuses available for new traders?

CloseOption often provides welcome bonuses and conducts regular contests for its traders.