During our Linegate.Myoption.net review we found that this is not a typical binary options broker. MyOption does not even allow their traders to make a deposit, however, they claim to process withdrawals without any problem.
We found several online testimonials where traders complained about MyOption not processing any withdrawals. MyOption business model is focused on a referral system where traders earn some bonus money for referring their friends or family.
It is not possible to place trades, only to follow other traders and copy their traders. However, there is no valid proof of their trading history. MyOption looks like a strange mix of lead generation and pyramid scheme that is built to get contact details from their customers in order to benefit from them in the future. Therefore we decided to put MyOption on a blacklist.
Feature set with MyOption includes educational support, personal guidance, bonuses, special promotions and more. Features integrate nicely with technical aspects of the platform providing a truly unique experience that needs little attention from the trader and runs smoothly. We learned to value this during our MyOption review since we could focus on trading with MyOption instead of dealing with the platform itself.
In the basic setting, there are three loyalty programs with MyOption which depend on amount customer deposits to their trading account. Many users believe these requirements are costs, but it’s not true. The funds deposited are at traders disposal at any time. They way system works is that bigger amount of funds per account reduces fixed costs associated with upholding the accounts and enables brokers to offer more services at lower per unit cost.
Users depositing up to $999 are eligible for the
that includes daily market reviews
personal account manager
welcome bonus 20%
With deposits from $1000 and more users get
with market updates
e-book on trading
professional account manager
welcome bonus 30%
When depositing more than $2500
offers daily market updates
senior account manager
welcome bonus of 40%
An additional account possibility is set for customers who are muslims. Sharia law makes spacial requirements regarding accounts and interest on accounts. MyOption adheres to those rules and offers this possibility for millions who want to trade but without breaking their religious traditions. Clients’ funds are held in segregated accounts that are interest-free and do not involve any locked in periods or use of margin.
Bonuses are offered to new and current account holders with MyOption. In addition to the previously described welcome bonuses, in this MyOption review we also want to present to customers some additional features offered by this broker.
MyOption Cash Back Bonus
Increases the incentive to trade by allocating bonuses as users trade. The total amount is in “pending” status at the beginning and later it slowly goes active in the account as trades are made. When we traded for the MyOption review, we saw we needed to trade 20x volume for the releasing of the money to the account starts with 20x for bonuses up to 50% and when we traded more the bonuses available also rose to up to fantastic 200% with 35x turnover! An easy indicator, a volume bar, will indicate the amount traded and how much one needs until required amount is reached.
MyOption First Trade Risk Free Bonus
Reduces anxiety some users may have when engaging in trading for the first time. Binary options do not require payment of fees as many managed funds do, but do require some personal effort. This means that users may be a bit uncomfortable first time they enter positions. MyOption helps here by reducing the risk with the first trade, effectively bringing it down to zero. If the first trade goes wrong, there is nothing to worry about, MyOption will deposit a bonus in the same amount to the trading account of the customer. Trade is capped at the hight of the allocated bonus. bonus can be withdrawn after 30x turnover
Do MyOption Platform
MyOption calls their trading platform “StrategiX”. Their binary options trading platform is in essence modified SpotOption engine bringing together different modular views into one control panel consisting of four areas that are designed to offer optimal trading speed and accuracy, while keeping the user friendly simplicity. Payouts go high as 90 percent but vary depending on asset or current promotions.
MyOption offers many types of products, the traditional high/low option, range binary options, touch options and the turbo options — better known as 60 seconds option (even though the term includes 15 second binary options as well). The choice is broad and, as we wrote in the introduction to the MyOption review, all services and features are so well integrated that one must view the whole experience. For this, readers must finish reading MyOption review.
Additional tools are the sentiment indicator or the “traders choice” bar. This indicator shows the direction the market is giving and users can use it as a compass when trading. It is not really good to base the whole trading strategy on it since price quotes get updated faster than the traders can act. It is a useful tool if, after doing the chart analysis, users are undecided because signals are mixed.
The extension of the sentiment indicator is the social trading. This is a rare feature among binary options brokers which lets users track the trades made by other traders. It’s an excellent way to benefit from the core of the market intelligence. Prices contain all the available information in the market, but the market knowledge is a network of pieces of the information. With social trading, users can capture these fragments to see where the pricing is made and what drives it. By leveraging these micro level “signals” they can increase their profit chances, by integrating them into their strategy or sometimes just following the most successful trades, which can carry somwhat more risk since there is delay between entering positions.
Market analysis sections of the website and the tab with mobile apps aren’t operational yet.
linegate myoption net Contacts
Fair Binary Options shares many core values with MyOption. One of our main values is fairness, and this is also something MyOption tries to promote with their customers. For the trust between traders and brokers to emerge, good personal contact is essential and that is why we were so happy to experience personal support during the MyOption review. All accounts include this essential service.
If users are for any reason unable to get in touch with the personal account manager, they can always contact the help desk. MyOption support can be contacted via phone, live-chat and e-mail, which is currently standard and minimum what is required from the binary options brokers. Phone contacts are available for United Kingdom, Russia, Bahrain, Singapore, Hong Kong – most of the global macro regions are covered.
Email support also works well. During the MyOption review, all the issues we had, were resolved fairly efficiently, while any questions we had, were answered thoroughly, with concrete steps highlighted. We are sure, however, most users will find the FAQ in combination with the guidance by the account manager more than enough to trade without hiccups.
Depositing and withdrawing funds is easy with MyOption. The company covers most of the popular payment services and doesn’t require fees for upholding customer trading accounts. The wide range of transaction options covers credit cards, debit cards, net wallets and bank transfers. This means that most of the global customers will have a way to trade with MyOption.
Credit cards that are supported are Visa, MasterCard, Visa Electron and Maestro. Bank wire is possible for almost all accounts. Net wallets covered are Skrill/Moneybookers, CashU, iDeal, WebMoney and Qiwi. During the MyOption review we found net wallets to be the fastest way to deposit if you already have funds on their accounts. With withdrawals, same methods can be used, unless withdrawing profits, then bank wire transfers are required due to anti money laundering legislation.
Is do.myoption.net Legit
There are no fees to withdraw funds with credit cards or net wallets. The processing period for withdrawal requests is 3 – 10 days, but during the time we did the MyOption review, the processing was always taking 3 days, which is in line with the industry. Readers must know that while doing the MyOption review we sent the ID verification documents when depositing for the first time, so withdrawals took less to process. It was hard to conclude is do.myoption.net legit.
Minimum deposit and withdrawal amounts are set to $200 or 180 EUR. Withdrawals are free unless using bank wire where MyOption charges $30 fee for handling bank costs on its side of the transfer.
During the MyOption review we learnt that broker is the brand of ALDO trading Ltd, Located in Cyprus.