Founded in 2008, TopOption is one of the most popular binary options company in the world. They have a good reputation of being fair play and transparent. Having a lot of benefits for their traders, this firm receives a lot of positive reviews. We wanted to gather all that information available online into one useful review. This way, you can be more informed, and decide whether this is the right trading company for you or not.
What is TopOption?
TopOption is a trading company based in Cyprus. The organization is authorized to operate transactions all over the European Union. The main competitive advantage of this company is its large range of tradable assets. It provides a lot more than a normal broker.
Being initiated by several financial analysts, TopOption has a complete set of services dedicated to both beginner and professional traders. Don’t worry if you are uninitiated in this field. You will find everything you need on their website. The company provides a lot of educational materials.
TopOption Account Types
TopOption has three main account types:
- Starter. The minimum deposit for this account type is 100 dollars, but you can give up to 249 dollars. There are no fees or additional taxes. Even though it is a standard account, it provides a mobile platform for those traders who are always on the road. The starter members will receive economic updates as well as newsroom alerts.
- Pro. With this account type, you can deposit between 250 dollars and 999 dollars. Compared to the Starter account, this one has some additional benefits such as advanced guides, one-on-one training sessions, and more.
- VIP. The minimum deposit for this account is 1,000 dollars, but it can go up to 5,000 dollars. Besides enjoying all the benefits of the memberships described above, the VIP account offers unlimited training sessions, free SMS signals, and more. A senior trading manager will make sure you are always assisted and taken care of.
TopOption Demo Account
TopOption offers the possibility to create a demo account. This is a great start for those of you who are not professional traders yet. The demo account is a great learning tool. Also, it is completely free of charge. Are you nervous about losing money? Well, then it means that the demo account is the right choice for you.
You will not trade real money. Using this account type, it will help you discover how the platform works. Your trading skills will be improved without taking any risks. The demo account simulates the real platform. In other words, you will do the same things as in real trading, but you will not lose a dime.
To sign up, you just have to complete a form, providing some personal details. This why, the company checks your identity to see whether they are risking a fraud or not. Once you select the demo account option, it will automatically be created for you.
Each type of account mentioned above comes with its bonuses. The first account called the Starter, can bring its traders up to 250 dollars welcoming bonuses. Those who choose Pro account will receive up to 500-dollar bonus. All in all, bonuses can go even up to 100 percent.
VIP accounts have the biggest bonuses rates. If you have a VIP membership, you are eligible to receive up to 2,500 dollars, as a welcoming bonus. There is something you must consider, though. Before withdrawing your bonus, you will need to accomplish a turnover twenty times bigger than the bonus. Also, you will be required to make the necessary deposit before receiving any bonus.
TopOption Minimum Deposit and Minimum Trade
The company’s minimum deposit requirement is 100 dollars. As for their smallest investment, you will only have to trade five dollars to initiate the entire process. If you have the necessary amount of money, you can go up to 4,000 dollars when it comes to the maximum trade.
All the trades can be made in the following currencies: US dollars, euros, Polish zloty, and English pounds.
TopOption has quick withdrawal processes. As a client, you won’t be charged with additional fees when withdrawing. There is a catch! To qualify for a free withdrawal, you must solicit a minimum ten dollars if you use a card, and 100 dollars if you choose to use bank wire.
If you opt to make an electronic withdrawal, there is no maximum limit. The withdrawal process is very similar to the deposit one. This way, the company wanted to make sure that every client understands how things work, and what are the steps to follow to receive the money.
Before allowing any withdrawals, the company’s representative must make sure there are no risks of fraud or security lacks. This is why every trader must verify his/her account before being allowed to withdraw money.
TopOption Binary Options Types
The company offers plenty of binary options such as high/low, one touch, pro option, option builder, and even 60 seconds. This might not seem like a lot compared to other brokers but is still quite diversified. You can use the 60 seconds option to trade quicker than others.
If you are a more patient trader, you can opt for a longer term binary option. These type of options can remain opened for weeks. You have the choice of selecting the expiry time you desire. With One Touch, you can earn up to 560 percent in profits.
Pro Option is the most advanced type which gives you the possibility to see a real-time chart. The company representatives will also recommend you to download a charting software. This will help you to get an overall view of what is happening in the market.
TopOption has a website that is mobile-friendly. It has also developed its trading app. As a broker, using this option might help you trade while you are on the road. The app is available on both Android and iOS devices.
It offers a wide range of trading tools. You can manage your trades on the go. The 60 seconds binary option is available on the mobile app. You will only need to log in, and then you will be ready to trade. The app has a “My account” section that can be accessed directly from your phone.
If you have any complaints or if you just want to clarify some things, you will be pleased to know that the company offers a 24/5 client support service. Weekends are off. The customer care is available in plenty of languages such as English, French, Italian, German, Japanese, Spanish, Swedish, and more.
Being a transparent and fair play company, TopOption does not have a lot of complaints. At least, none that we know about. The website also has a live chat option. You can access it anytime you like. Their response rate is pretty amazing.
Is TopOption Legit or Scam?
There were never suspicions related to the company’s integrity. It is a well-respected trading firm. TopOption is not a scam, also being licensed and authorized by CYSEC.
Safety and security are the firm’s main objectives. This is why they keep all the traders’ money in separate accounts. As you can see, your money will be safe in case the company files for bankruptcy.
TopOption Pros and Cons
- It has plenty of trading options. There is a wide range of assets.
- The maximum return on investment can go as high as 82 percent.
- Their platform has a user-friendly interface.
- The minimum investment is only five dollars.
- TopOption is licensed by CYSEC, so it is a trustworthy company.
- It offers the possibility of a demo account.
- A good reputation and a great experience are both important benefits for the traders.
There are no obvious weaknesses. Some might consider it a bit new in the market because it was founded in 2008. Its reputation and professionalism might contradict this opinion, though. Another disadvantage for some of the traders might be the fact that the company doesn’t accept clients from the United States of America.
Successfully Trading with TopOption
From the first time you enter the company’s website, you can see they are a serious trading firm. The platform is polished and well-organized. They use top-notch technology. After your login, you will discover that the interface is personalized for each client.
TopOption is a secure trading platform. They have plenty of registered traders, being one of the most popular and trusted binary options organizations in the world. If you choose to trade with TopOption, you will have access to a wide range of assets. There are approximately 180 assets, from commodities to currencies and indices.