UK Options is a binary options broker managed by Worldwide Tech Limited, which is a subsidiary of Smartech Ltd.
The broker was registered in the UK in 2013. It is headquartered in London.
Despite its young age, the company is highly popular among traders, mostly in Western Europe. UK Options is widely regarded as a new generation broker. High quality of services coupled with a broad selection of trading tools and underlying assets (over 200) make it popular among both private traders and large investors.
Deposits and Withdrawals
The range of depositing methods is somewhat limited, which is typical for UK brokers. Customers can fund the deposit in the following ways:
- Bank transfer;
- Visa, MasterCard credit cards;
- Neteller, Skrill, CashU.
There are a number of restrictions on the volume of financial operations. Monthly deposit from one source should not exceed $15 000 USD.
Withdrawals are made with the use of the same tools. The minimum withdrawal is $100 USD. No additional commission is charged when transferring funds to a bank account. In case of online payments, a client pays commission of the payment system.
Bank transfer is made within 3-5 working days. Online payments are processed throughout 1 banking day.
Reliability and Certification
UK Options has a license of the authoritative European regulator CySEC (the Cyprus Securities and Exchange Commission) following the Markets in Financial Instruments Directive (MIFID).
Bonuses and Promotions
UK Options is offering a welcome bonus up to 100% of the initial deposit. Bonus money can be withdrawn from the trading account only after the traded volume exceeds the amount of bonus money by 40 times.
Trading Accounts and Options Types
UK Options is offering four types of trading accounts to its customers:
- Beginner. Owners of such accounts get 50% welcome bonus and can make 1 risk-free transaction. Minimum deposit for this account is $1 000 USD;
- Experienced. Opening this account, customers get up to $3 000 USD bonus and can make 3 risk-free transactions. Minimum deposit is $5 000 USD.
- Professional. Minimum deposit for this account is $10 000 USD. Welcome bonus can reach $7 000 USD. Owners of professional accounts can make 5 risk-free transactions. The broker also offers bonus on profit and partial refund for out-of-the-money transactions.
- VIP. This is an account for premium clients of UK Options. Minimum deposit is $50 000 USD, maximum bonus – $30 000 USD. 7 risk-free transactions. UK Options VIP MasterCard.
All accounts can be opened in the following currencies:
- US Dollar,
- British Pound.
UK Options customers can open demo accounts, but only after registering a live trading account and placing initial deposit.
The broker is offering 7 options types to its clients:
- Classic Binaries High/Low;
- Pairs. Traders should predict the price of what asset (of the chosen pair) will rise more over the expiry period;
- Long Term Options. Expiry time can be a week or more;
- Turbo Options. Execution period is 1-5 minutes;
- One Touch. The payout may reach 400%;
- Ladder. The payout of such options may be up to 800%.
There are the following underlying assets available at UK Options:
- Commodities, including those unusual for binary options such as wheat, sugar and coffee;
- Stocks of large companies;
- Currency pairs.
Trading at UK Options is done on the SpotOption 2 trading platform, which was significantly upgraded.
The platform functional was enhanced considerably. In particular, it allows to conclude transactions identical to those made on the Forex market.
Double Up and Roll Over functions let customers manage their trading accounts quickly and comfortably. The platform has a powerful graphic cell including graphic indicators.
The trading platform supports seven languages:
The platform is web based and allows to manage the trading account from any mobile device with an access to Internet.
Customer Support at UK Options is available by phone, Email or via live chat on the company website.
The company is offering a unique service – call back reservation for a particular time convenient for the customer.
Customer support is working on 24/5 basis.
UK Options Academy contains plenty of educational video courses for both beginners and experienced traders that want to improve their trading skills.
Pros of trading with UK Options
The broker has the following competitive advantages:
- High payout;
- Wide range of trading tools and underlying assets;
- Powerful but simple and easy-to-use platform;
- Great range of educational programs.
High minimum deposit and complicated (long-lasting) procedure of address and passport identification of a new customer are regarded as the company’s weak spots.
UK Options Reviews
UnionJack: Everything is accurate and flawless. But I could not work longer than half a year. I was bored with constant verifications for each change of the withdrawal method and for opening another trading account (from the same user account). But the quality, to put it another way, is irreproachable.
Garry: This is the platform for professionals. Training programs are excellent but there are hardly any beginners opening $1 000 USD deposits.
The broker leaves mixed impression. It’s hard to determine at once, which target group of traders it is focused on. Professional customer service, widest range of options and assets, unique educational programs could attract beginner traders, but $1 000 USD deposit and no demo accounts are untypical for the broker who wants to extend its customer base with newcomers.
There are not many binary options brokers that can boast of CySEC license but the parent company is registered in the offshore area (Saint Vincent), which causes concern.
On the whole, regarding the quality of services, the company is worth high praise. Unfortunately not every trader can duly appreciate this quality.