NowOption is a newly launched binary options broker founded in 2013 and run by a company called Webart Softech Ltd. The broker is being monitored under the MiFID regulations as they are being regulated by CySEC. NowOption offers over 180 types of assets, covering the popular assets in the market. They support 16 forex currency pairs, 11 commodities and 23 indices. They feature more than 125 major companies in stocks including BMW, and Apple.
Opening a New Trading Account with NewOption
You can open an account by filling your personal information into the online form on the right side and clicking the Open Account button. You can choose from 3 types of currencies including USD, Euro and GBP during the registration for a new account. They don’t require you to make an initial deposit to activate the account. They provide a free demo trading account, which you can use to practice your trading skills.
NowOption Trading Platform Review
NowOption offers the Tradologic trading platform that features 4 types of options including Digital, Turbo, Range and One Touch. The Tradologic platform is completely web based which means there is no need to download any software onto your computer to start trading. The average payout rate you can get is 85% for standard options. They offer a higher payout of up to 200% for traders who deposit at least $100 into their accounts.
Every single transaction that is conducted at NowOption is covered with SSL security encryption. NowOption is suitable for beginners because they allow you to start trading by simply investing only $10 per trade. There is a demo account which you can use to test different kinds of trading strategies.
NowOption also support a mobile platform for both Android and iOS mobile devices users. You can get the NowOption’s Android and iOS mobile apps from Google PlayStore and Apple iTunes stores respectively.
Traders can deposit and withdraw via a variety of methods including credit cards, Skrill, CashU and bank wire. The minimum amount you can deposit into your trading account is $200 in your local currency. There is no deposit fee or commission fee when you make a deposit into your account. To deposit funds into your account, you simply click the Deposit button in your account. Generally, you have to wait 1 – 7 days for your withdrawal request to be processed.
It will take 2 – 3 days for the funds to arrive in your trading account if you deposit via bank wire. NowOption did not set a minimum withdrawal amount and they offer one free withdrawal per month. After the first withdrawal, you will be charged with a fee of $30.
Newbie traders can learn more about binary trading by watching the introductory videos, taking part in the in depth course or reading the free e-book. They provide up to date financial news so that you can make better investment decision in your trading. The trader insight tool on the right can predict on whether the asset is likely to increase or fall.
You can reach the customer support representatives at NowOption via three methods including email contact form, live chat, and telephone. The live chat and telephone support are available for 24/7 so you can contact them at anytime.
There is a FAQ section that provides answers to questions on trading, banking and account. The website layout supports several languages including English, French, Japanese, Russian, Spanish and Arabians.
Is NowOption a good broker?
In conclusion, NowOption may be a new binary options broker but it is reliable since it has an European broker license with CySEC. The platform they offer is SSL encrypted and offer a lot of trading tools to help you in your trading activities.