Is CloseOption A Safe Broker?
The question on many traders' minds is the safety and legitimacy of their chosen brokers. With the plethora of options available, it is essential to determine whether a broker is legitimate, regulated, and safe for trading. Enter CloseOption – a binary options broker that has caught the attention of many. Is it worth your time and investment? Let's delve deeper.
CloseOption has firmly established its presence in the trading world since its start in 2013. Registered in Georgia, it operates under the close watch of the National Bank of Georgia.
Is CloseOption legit?
CloseOption has firmly established its presence in the trading world since its start in 2013. Registered in Georgia, it operates under the close watch of the National Bank of Georgia.
Is CloseOption legit in my country?
CloseOption is widely accessible to traders around the world. However, certain countries are excluded from their service list. Suppose you're from any of the following nations. In that case, you'd have to look elsewhere: Afghanistan, Algeria, Bangladesh, Bhutan, Brazil, China, Colombia, Egypt, Georgia, India, Indonesia, Iran, Iraq, Israel, Malaysia, Mexico, Morocco, Myanmar (Burma), Nepal, Niger, Nigeria, North Korea, Pakistan, Palestine, Russia, Sri Lanka, Syria, Tunisia, Uzbekistan, Venezuela, and Zimbabwe. For residents of all other countries, CloseOption remains a viable trading option. However it's better to ask support team before registering regarding possible changes.
Is CloseOption regulated by governments?
The importance of regulation cannot be understated in the world of trading. CloseOption takes this seriously as a state supervisory authority regulates it. This broker offers a high-payout trading platform and ensures clients are well-informed through quality education and consistent professional support. The flexibility of CloseOption's trading platform is another commendable feature – it's compatible with multiple browsers like Opera, Chrome, Mozilla Firefox, Internet Explorer, and Safari. A demo contest mode is available for risk-free training for beginners or those wishing to hone their skills.
Is CloseOption a scam or safe?
Safety is paramount in trading, and CloseOption has taken measures to ensure its platform is secure. As a regulated broker, it adheres to the standards set by the state supervisory authority. Their commitment to providing quality education and round-the-clock professional support further bolsters their credibility.
CloseOption facilitates smooth financial transactions, allowing deposits and withdrawals via diverse payment channels, including electronic and crypto wallets. However, it's noteworthy that CloseOption operates without a recognized global regulatory oversight, which inherently carries risk. Traders must tread carefully, as there isn't a global regulatory body to safeguard investor interests in case of disputes. CloseOption also offers binary options no-deposit bonus of $20 for a Live account.
CloseOption pros and cons
Understanding a broker's advantages and potential pitfalls can greatly influence a trader's decision.
👍 CloseOption pros:
• Regulation. CloseOption is licensed by a notable financial regulator, instilling trust in its operations and ensuring traders have a legitimate oversight for the platform.
• Accessible entry. With a minimal first deposit requirement of only $5, CloseOption presents a low entry barrier, making it accessible to a wide range of traders.
• Rewarding payments. CloseOption offers a tiered payment system, ensuring that as traders increase their trading volumes, they witness a proportional payout rise.
• Virtual funds bonuses. Traders at CloseOption can earn enticing money prizes when trading using virtual funds.
• Efficient support. CloseOption prides itself on its efficient, 24/7 technical support, accessible through various channels, ensuring traders always have help at their fingertips.
👎 CloseOption cons:
• Limited asset range. One of the limitations of CloseOption is its narrow range of trading assets, which might only cater to some trader preferences.
• No leverage trading. Unlike some competitors, CloseOption doesn't offer the option of trading with leverage, potentially limiting trading strategies for some clients.
• Low payments for small deposits. Traders who start with smaller deposits at CloseOption might find their payment rates less competitive than those other brokers offer.
FAQs
What is the minimum withdrawal from CloseOption?
The minimum withdrawal is $1 for cryptocurrencies, Perfect Money, and WebMoney. For credit card transactions, it's $20, and for bank transfers, it's a steep $500.
Is CloseOption safe to use?
Yes, CloseOption is a regulated binary options broker. The low minimum deposit makes it suitable even for beginners.
Is CloseOption trade legit?
While CloseOption is legitimately registered in Georgia, it's essential to note that it's currently not regulated by a globally recognized trading authority.
Can I withdraw money from CloseOption?
To initiate a withdrawal, you simply have to open a ticket with CloseOption. Remember, withdrawals must be processed through the initial deposit method or wire transfer.
Team that worked on the article
Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses who want to improve their Google search rankings to compete with their competition.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).