GrandOption is a binary options broker registered in Cyprus in 2013. Right from its foundation, the company has been showing a rapid growth. At the moment it is widely regarded as one of the leading binary option brokers in Europe.
The secret of GrandOption success is its complex approach and unique combination of reliability, ensured by high regulation level and close cooperation with large banks and insurance companies, and commitment to introduction of modern trading, banking and information technologies.
All the above coupled with a strong focus on customers and determination to create best trading conditions makes it clear why GrandOption customer base is constantly growing and now exceeds 150 000 traders, mostly private ones.
Deposits and Withdrawals
The following financial instruments are available for depositing and withdrawing funds at GrandOption:
- Visa and MasterCard credit/debit cards;
- Skrill, WebMoney, Neteller.
Bank transfers take 3-5 working days. Online payments are made within one banking day. For the first withdrawal, address and passport verification may last for 7-10 days. No commission is charged for the first withdrawal. Going forwards, a customer should pay a commission for each withdrawal depending on a type of trading account:
- Standard account owners pay 3.5% commission for bank transfer or credit card payment and 2% for online payments.
- Premium account owners can withdraw funds without commission once a month irrespective of a withdrawal method.
- VIP account holders pay no commission.
Reliability and Certification
The broker is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). Besides, its financial activity is authorized by such respectable international regulators as:
Bonuses and Promotions
Every trader can receive a welcome bonus in the size of 100% of the initial deposit amount. The bonus cannot be withdrawn from the trading account immediately. To do that, the trader should meet trade volume requirements, which are available on the company’s official website.
GrandOption is holding regular contests on live trading accounts of registered customers. The winners of the contests get money prizes. These as well as bonus money are intended for trading purposes only.
Trading Accounts and Options Types
Clients of GrandOption can trade only classic high/low and short term binaries. The options differ only in expiry time and underlying assets, which are also standard:
- Currency pairs;
- Stocks of large corporations;
GrandOption is a step ahead of its competitors. In 2014 the company developed its own trading platform, which is much faster than well-known binary option platforms (SpotOption and TradeLogic).
There are two main types of options on Grand Option platform – High/Low and Short Term Options.
The expiry in short term options can be 30 seconds, 1 minute, 2 minutes and 5 minutes.
You can choose any time of expiry multiple of 5 within the next 30 minutes as well as open positions with 1 or 2 hours expiry time.
Apart from high speed, GrandOption platform has a number of functionalities, which are not and cannot be available at other brokerage companies working on standard trading platforms:
- User-friendly and convenient interface;
- Dashboard with trade history (up to 500 deals);
- Simultaneous management of several deals from one chart;
- Stop Loss and Take Profit features to limit losses and fix profits before the option expiry;
- Customized time frames to trade options from 30 second to 5 minutes;
- Possibility to customize underlying asset chart.
Customer support of GrandOption is working in 24/7 mode. Support services are available through the following channels:
- Live chat on the official website.
Customer support languages are English and Russian.
Pros of Trading with GrandOption
GrandOption’s major strengths include a wide choice of educational programs for both beginner and experienced traders. All programs are available in Russian, which is especially important. Moreover, every day customers can have a look at free financial market overviews.
High level of regulation is one more advantage of GrandOption.
- Poor choice of trading tools;
- Withdrawal commissions.
StKir: Strange broker. On one hand, high quality of services, accurate order execution, good range of trading tools and underlying assets; on the other hand, obscure withdrawal system making you every time doubt about the result. In one word, the broker is not for everyone. I was trading on this platform for 8 months and was bored. But still I have no complaints about the quality of services or obligations performance.
Andrey: I recommend the broker to all, especially beginner traders who speak Russian. Professional Russian-language customer support is rare, especially combined with low minimum deposit.
Upon closer view, GrandOption seems to have no “unitary” structure but represents a set of blocks. These blocks differ in not only functionality level but also sophistication.
The trading platform is very powerful and thoroughly optimized software product. The selection of underlying assets and trading tools is full to the uttermost. As for deposit/withdrawal procedure, it is unable to withstand criticism. The procedure is too complicated, and commissions make the matter even worse. It seems that when “building” the broker, developers were in great hustle.