BeeOptions, a subsidiary of UKTVM Ltd, is a binary options broker founded in 2013 and registered in the UK. It is headquartered in London. The broker has customers all around the world.
Deposits and Withdrawals
BeeOptions is offering quite modest range of financial instruments for depositing and withdrawing funds. These are as follows:
- Bank transfer,
- Visa, MasterCard credit/debit cards,
- Beeoptions ePayment card.
Payments are effected accurately but the procedure is very complicated. To withdraw funds, one should first submit a request, which will be considered for two days. After that the withdrawal itself, irrespective of its method, will be carried within three days.
During the first withdrawal of funds a customer must pass address and passport verification, which takes no less than 3 weeks.
Reliability and Certification
The broker is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC).
The license from the authoritative regulator is not the only proof of the company’s reliability and liquidity. Apart from “reliable papers”, BeeOptions has a wide array of trading and financial instruments allowing it to ensure high quality of services and adequate level of safety of trading operations and customers’ assets.
Bonuses and Promotions
BeeOptions is offering a welcome bonus depending on a trading account type and ranging from 100% to 150% of the initial deposit value.
Besides, BeeOptions is holding different promotions. For example, if a customer makes a deposit on Saturday or Sunday, it may get $250 USD bonus.
As the majority of other brokers, bonuses from BeeOptions are intended for trading. Only after meeting certain requirements, bonus money can be withdrawn from the trading account. Details on terms and conditions of bonus programs and promotions are available on the company’s official website.
Trading Accounts and Options Types
The broker’s customers can register live trading accounts of the following types:
- Basic Account. Minimum deposit is $250 USD;
- Gold Account – $500 USD;
- Platinum Account – $2 500 USD;
- Diamond Account – $10 000 USD.
The size of minimum deposit is not the only difference between the accounts.
The next distinction is the size of welcome bonus for the initial deposit. There is no bonus for basic account, while for gold account it is 100%, for platinum – 125% and for diamond – 150%.
Customers that registered a diamond account and made a deposit of no less than $10 000 USD, get a gift from the broker – iPad. Other distinctions are insignificant and refer to additional services of the broker.
BeeOptions is offering the following types of options to its clients:
- Long Term;
- Turbo options with different expiry period (30,60 and 120 seconds);
- One Touch.
Underlying assets are as follows:
- Currency pairs;
They are 136 in number.
BeeOptions is offering an opportunity to its customers to trade on the trading platform of one of the best, if not to say the best, online trading platform provider – SpotOption. This is a well-known trading platform allowing to fully implement different trading strategies. Besides, it has technical indicators: RSI, Moving Average, Bollinger Bands. The use of indicators lets the trader quickly respond to changes in exchange market situation and make right and timely decisions.
The platform supports three languages:
BeeOptions is offering customer support services 24 hours a day 7 days a week. They are available through the following channels:
Customer support representatives speak the languages supported by the trading platform.
Pros of Trading with Beeoptions
Simplicity is certainly the main advantage of Beeoptions. This is probably not a precise definition but simplicity implies a well-thought range of trading tools and underlying assets as well as friendliness and a flexible system of trading platform settings.
High payouts can also be regarded as the company’s advantage.
Disadvantages of BeeOptions are as follows:
- high minimum deposit;
- modest choice of financial tools and highly complicated withdrawal procedure.
Boris: Everything is clear, minimum costs. I’ve been trading on the platform for about a year. I chose the broker because no other offers such a variety of underlying assets. There was a period when I wanted to remove the deposit, but when the adaptation (verification etc.) was over I was able to fully evaluate the company’s magnitude and the quality of its services.
MisterFX: I was trading with BeeOptions just for 4 months and was bored by excessive sophistication and slowness. I think it’s too much to wait for the approval for 5 weeks. I suppose that money transfer to online payment system is more risky but it’s not the reason to outright refuse to use online payment systems.
I can’t say anything bad about the quality of services. On the contrary, when I changed the broker I was surprised by minor faults which those traders who did not work with BeeOptions just cannot notice.
Shortly summarizing impressions from BeeOptions – despite the declared openness to any trader, the broker is actually focused on those customers who can invest much money into binary options. High minimum deposit and very poor choice of withdrawal methods prove that.
Still, the general impression from the broker is positive. This is primarily explained by superior quality of its services and broad range of trading tools and underlying assets.