Established in 2017, PrimeOption is a Binary Options broker offering its online services in English and Russian. The PrimeOption brand is owned and operated by a UK company, Oracle Stone Ltd under license from the International Financial Services Commission in Belize. The company was set up by professionals with experience in derivates, Forex and risk management using ‘up to date and advanced technologies’.
Currently, traders registering an account at PrimeOption may claim a 100% bonus on the initial deposit subject to terms and conditions detailed in the bonus offer. Significantly, traders at PrimeOption do not require previous experience to begin trading on the 100% web-based platform. Access to extensive educational training on the trading platform including assistance from professional brokers, equips traders with knowledge to become successful.
Bonus Terms and Conditions
Before bonus and profits can be withdrawn from the trading account, the trader needs to execute a trading volume of at least 40X the amount of bonus money received. Notably, the terms must be fulfilled in the time specified in the promotional offer. Moreover, should the trader attempt to cash out the bonus and profits without fulfilling the bonus trading requirements, the bonus and profits are removed from the traders account.
Binary Options is a derivative financial instrument with fixed income and risk. To trade binary options, traders must decide whether the price of an underlying asset will go up or down during the life of the option. If the decision is incorrect, the trader loses 100% of the investment. However, when the decision is correct, the trader can get up to 90% profit on the investment. To trade Binary Options, traders at PrimeOptions can choose from four trader types: New, Bronze, Gold and Platinum. Moreover, there are no hidden fees or commissions.
This is the very limited PrimeOption account with one on one basic training, access to the basic education centre and the trading dashboard. A minimum deposit amount is not indicated on the website.
To set up a Bronze trader account, customers must deposit between $450 and $1,499. A personal account manager is made available to Bronze traders and one on one basic training is given. Traders have access to the basic education centre and a limited trading dashboard with limited signals. We consider this a poor package relative to the deposit requirements.
The deposit for registering a Gold Trader account is from $1500 up to $1,999. With the Gold account, traders get one on one basic training, a personal account manager and access to the entire education centre. Significantly, traders get to use the unlimited 365 trading dashboard and receive full trading signals.
To open a Platinum Trader account, a deposit of between $2,000 and $5,000 is required. The Platinum account gives traders all the advantages of the Gold Trader account PLUS one on one training by a professional trader.
PrimeOption offers traders access to the simplified TradeSmarter binary options platform designed for inexperienced and advanced traders. Significantly, TradeSmarter enables social trading in Binary options with copy trading and social charting. With TradeSmarter, traders can trade easily in currencies, stocks, indices and commodities on the intuitive interface, learning as they go along. Notably, TradeSmarter is a web based platform with unified functionality across desktop and mobile devices. The platform provides hourly options expiration services with comprehensive trading tools enabling traders to get orders to market quickly. These include real time price feeds from Thompson Reuters, continuous education facility, economic calendar and live webinars.
24 Prime Option Scam Review
24PrimeOption is running some sort of multi-level funding scheme offering 60% returns in 7 days. To be able to work with them or trade with them they ask for 0.75 BTC i deposit. We want to alert people to stay clear of 24PrimeOption and go with a broker that offers low minimum deposit and quick withdrawals.
Prime Option Banking & Support
PrimeOption supports a broad range of payment methods thereby providing flexibility and convenience to customers. The popular credit/debit cards Visa, Mastercard, Visa Electron and Maestro are included together with electronic payment methods Skrill, Neteller, Yandex, ePayments, QiWi Wallet and Webmoney. Bank transfer is also an option for depositing and withdrawing funds at PrimeOption.
Customers with non-VIP accounts can expect to wait up to 14 business days to get their funds, with 5 business days needed to process the request. Holders of VIP accounts, which we assume to be the Gold and Platinum account types, have their withdrawal requests processed within 2 business days. Notably, we were unable to find a specified VIP category in the Trader Types section on the website. In comparison to many online brokers reviewed by us, we think this is a protracted delivery time that may prove a disincentive to customers. Another key point is that a 3% withdrawal fee is charged by PrimeOption on each withdrawal, a substantial amount in our opinion.