TorOption was established by professionals with years of experience in every major aspect of trading including forex, binary options trading, risk management, and derivatives. The company strives to give its customers everything they need to succeed, that's why they offer 24/5 customer support, extensive trader education, a user friendly platform, and strict security standards. TorOption clients can be confident that every facet of their trading experience will be addressed thoroughly until they are completely satisfied.
1. General Information On TorOption
2. Security Features
The safety of the clients' financial transactions and personal information is a top priority. TorOption employs advanced security measures to ensure that their customers are protected from any potential security breaches. All financial and personal data is protected by SSL encryption that is applied at every stage of data entry. Documentation is required to verify accounts for withdrawal purposes. All of these measures are used to provide traders with confidence and peace of mind.
3. Advantages and Disadvantages
Exceptional customer support: The customer service staff are easily accessible for any need that arrives and can be reached 24/7 by email and chat or by phone Monday through Friday 7am to 8pm GMT.
Trader education resources: The webinars, eBook, and tutorials are an excellent source for educating traders of all levels.
Advanced security features: Strict security measures are used to protect the financial transactions and personal information of all clients.
Promotions: The company offers many bonus options and a loyalty program to valued customers.
User friendly: Platform is extremely easy to use for even the first time trader.
Market analysis tools: Provides many useful tools to make best trade choices such as Daily Market Review, Weekly Market Review, Trading Hours, Asset Index and Economic Calendar.
Web based platform: Doesn't require a software download to use, works with any computer or phone with internet access.
Multilingual site: Operates in English, Spanish, Russian, and German.
Secured trades: First 10 trades are completely secure in case something goes wrong.
8 different trading option: Traders can change strategies as they feel comfortable.
No demo account: This may be a concern for novice traders that are looking to "practice" before committing to an actual account. On the other hand the ”Secured trades” mentioned previously make the lack of demo account a small issue.
US clients not accepted
4. Trading Terms
This broker offers prime trading conditions with the use of the SoftOption trading platform that makes trading extremely easy for even novice traders which means there is no time wasted trying to learn how to use a complicated system. The vast educational resources offered by Toroption makes it possible for all of their clients to become successful traders and take advantage of the best trading options for their needs. The dedicated customer support makes staying connected to an experienced broker possible for all of its clients. The advanced security measures keep account information private and secure to instill trust in customers.
5. Tradable Assets
TorOption broker offers over 50 assets that include stocks from major companies all over the world, precious commodities, international indices, and foreign currencies. While the company hopes to add more options in the future, the current selection still offers the perfect mix of trading options to diversify the portfolio of any trader regardless of experience level.
6. Trading Platform
This company uses the very reliable and easy use SpotOption trading platform. Since its inception in 2008, SpotOption has undergone extensive improvements and continued development which makes it one of the most trusted trading platforms. This is a web based platform and therefore doesn't require software download to use it. All you need is a computer or phone with internet access and its ready to use. This product also offers great resources to help users and it provides TorOption clients with 8 different trading options.
- Classic Binary Options: Simple option where the trader decides whether an asset will increase or decrease in value
- 60 Seconds Options: Decision of whether an assets price will rise or fall within a 1-minute period.
- FX/CFD: Simply means Foreign Exchange Market and Contract for Difference
- Ladder Options: A trade option that involves choosing an asset with an expiry date and a direction for it to follow and when it closes favorably, profits can be reinvested in next trade. Basically, profits of increasing value will be made at each "step" if correctly predicted.
- Long Term Options: Refers to trading in a wider market and involves long term trades lasting anywhere from 3 days to several years.
- One Touch Option: All or nothing option that requires predicting whether the price of an asset will reach a pre-determined amount. If it does, it means profit and if t doesn't, it means losing investment.
- Pair Options: This option allows a trader to predict if one asset will outperform another.
- Trade Follow: A social trading tool that allows clients to follow the best binary trader around the world and basically copy their trades to make a profit.
These options along with the platform's advanced trading tools, traders can easily utilize the best risk management strategies to fit their needs and trading style.
7. Account Types
TorOption offers four trading account option that are designed to accommodate any trader whether they're looking to make a modest deposit or a large investment. Each account has different minimum deposit requirements that include various benefits and bonuses. All accounts include customer support, an exclusive eBook, and a daily market review.
- Mini Trading Account is the lowest tier and requires a minimum deposit of $350
- Standard Trading Account requires a minimum deposit of $10,000
- Executive Trading Account requires a minimum deposit of $25,000
- VIP Trading Account is the highest tier and requires a deposit of $50,000
In addition to the basic features mentioned above, these accounts offer bonuses that range from 10% for the mini and up to 75% for the executive. As for the VIP account, it comes with a customized bonus package. The higher tiered accounts come with exclusive promotions such as loyalty program coupons, daily trade signals, and a personal account manager.
8. Deposits and Withdrawals
Making deposits is extremely easy and only requires a few steps. First, you must register and open an account which just requires filling out a form on the website. Next, you can make a deposit into the account using a debit /credit card, wire transfer, or electronic wallet. After making a deposit, you will be asked to send in verification documents to be able to withdrawals but this is a security measure to protect clients. Once the minimum deposit is in the account, you can start trading.
Withdrawals can be made using credit/debit card or wire transfer. To withdraw funds, you need to go to your account and submit a withdrawal request. Once the request is submitted, it takes about 7 days to process. Credit/debit card withdrawals are free but wire transfer withdrawals incur a $25 fee and there's a $50 minimum withdrawal requirement.
9. Trader Education
An educated trader is a happy, successful trader. That's why TopOption is dedicated to providing exceptional education resources to ensure that everyone has the potential to be successful in the world of binary options trading. The company offers interactive video tutorials to assist all traders regardless of experience. Clients can also receive 1-on-1 consultation from experienced brokers to instruct them as thoroughly as possible. The webinars offered by TopOption are invaluable and all clients are encouraged to make use of this resource. Making intelligent choices begins with being informed and TopOption has all the tools needed to become informed.
10. Customer Support
The value of customer service cannot be overemphasized. The company that values their customers shows it by providing assistance whenever it is needed. TopOption goes above and beyond what is normally provided by other brokers. The support staff is available 24/7 via email and Live Chat whenever there are questions or concerns. A well trained group of account managers and market analysts make up the customer support staff. These hard working individuals know the ins and out of the financial markets and use their knowledge to ensure the success of their clients.
11. Should I Choose TorOption?
The novice would benefit greatly from using this broker because the user friendly platform doesn't require learning a complex system to make trades and the educational tools will really build their financial knowledge. The more advance trader may want a larger selection of trading options but the options available do offer great return potential and the strict security measures employed by TorOption ensures all traders are adequately protected. Both types of client would greatly benefit from the outstanding customer support to help them succeed.