CloseOption binary is regulated by national bank of Georgia and more than 25 symbols are available to trade. Over 3.5 million traders use this broker because of 90% maximum payouts and $5 minimum deposits.
CloseOption Company Information
CloseOption is a binary options broker that has been making waves in the financial trading industry since its establishment in 2013. Registered with the National Bank of Georgia, this broker has managed to attract more than 3.5 million of traders worldwide with its unique offerings and user-friendly platform. Here are some key points about the company:
- Founded in 2013, headquartered in Tbilisi, Georgia
- Registered and regulated by the National Bank of Georgia
- Trading on over 25 forex and cryptocurrency assets
- Proprietary TradeRoom trading platform
- Minimum deposit of $5 and minimum trade size of $1
- Maximum payouts up to 90% depending on account tier and market condition
While the regulatory oversight from the National Bank of Georgia might not be as robust as some top-tier financial authorities, The binary broker has managed to build a reputation for reliability and transparency over the years.
Summary of Details & Specifics
Let's take a closer look at the specifics of what CloseOption offers to its traders:
Broker | CloseOption |
Account Types | Real, Contest |
Establishment Year | 2013 |
Trading Platforms | Proprietary platform [Trade Room] |
Maximum Return | 90% |
Minimum Deposit | $5 |
Base Currencies | USD $ |
Deposit Methods | Perfect Money, WebMoney, PayPal, MasterCard, Cryptocurrency, Wire Transfer |
Withdrawal Methods | Perfect Money, WebMoney, PayPal, MasterCard, Cryptocurrency, Wire Transfer |
Minimum Trade amount | $1 |
Maximum Trade Amount | $1000 |
Tradable Assets | Forex currency pairs, Cryptocurrencies |
Investment Options | None |
Bonus | 44% deposit bonus, $10 welcome gift, Demo contest |
Spreads | $1 at least |
Commission & Fees | 0.5% of balance per month as inactivity fee |
Maximum Leverage | Not Provided |
Affiliate Program | Yes |
Trading Features | Not Specified |
Inactivity Fee | 0.5% of balance per month |
Customer Support Ways | Live Chat, Email, Phone Support, ticket |
Customer Support Hours | 24/7 |
What Are CloseOption Broker Account Types?
CloseOption offers 2 trading accounts [Real and Contest] and Each account has its own usage and specifications. CloseOption account types:
Real Account
- Minimum deposit: $5
- Minimum trade size: $1
- Maximum Trade size: $1000
- tiers: Copper, Silver, Gold, Platinum, Diamond
- Payout: Higher tiers with increased payouts (up to 90% for Diamond tier)
The tiered system in the real money account encourages traders to increase their account balance to unlock better trading conditions and higher payouts. For instance, the Diamond tier, which requires a $50,000+ account balance, offers the highest payouts of up to 90% on some assets.
CloseOption Real Account Tiers
Level | Deposit Amount | Max Return for EUR/USD | Max Return for Other Assets |
Copper | $0 - $1,000 | 79% | 17% - 78% |
Bronze | $1,000 - $2,000 | 80% | 17% - 80% |
Silver | $2,000 - $10,000 | 82% | 17% - 85% |
Gold | $10,000 - $50,000 | 85% | 17% - 88% |
Diamond | $50,000 - $1,000,000 | 90% | 17% - 90% |
Contest Account
- Participate in weekly trading competitions;
- Trade with virtual money;
- Enjoy cash prizes up to $3000;
- Requires a minimum $500 balance in a real money account.
All close-option competitions are held on Demo accounts, and traders compete with virtual money.
The broker also provides a Demo account with a balance of $100,000 and access to all trading pairs.
CloseOption Account Comparison
Features | Real | Contest |
Min Deposit | $5 | $500 (Required balance in the real account) |
Trading Platform | Trade Room | |
Markets | Forex currency pairs, Cryptocurrencies | |
Min Trade Size | $1 | $1 |
Commission | $0 | $10 (Entry Fee) |
Max Leverage | 1:1 | 1:1 |
How to Register with CloseOption Broker? Step-by-step guide
CloseOption sign up can be done in 3 minutes if you follow the steps below:
#1 Visit the CloseOption Website
Navigate to the broker's official website, and click "Register" on the home page.
#2 CloseOption Signup Form
Fill out the registration form with the following details:
- Full name
- Email address
- Account password
- Country of residence
Agree to the broker's terms and conditions (read them carefully).
#3 Activate CloseOption Account
Check your inbox for the activation email. Click the link to verify your account. You’ll be redirected to your trading room, where your account is ready for use.
Choose your preferred account, deposit, and start trading.
Close Option Binary Bonuses
CloseOption provides a mix of ongoing promotions, including:
- $10 sign-up bonus for new clients
- 44% deposit bonus (withdrawable after 20× turnover)
In addition to the CloseOption bonus, we found out that this broker holds a weekly demo contest and awards prizes to the top 20 players. Traders must deposit $500 in real account to enter the contest, and if they win, they will receive a prize of up to $3,000!
CloseOption binary Commission and fees
When it comes to commissions and fees, CloseOption maintains a relatively trader-friendly structure. CloseOption fees:
Fees | Real Account |
Spreads | $1 at least |
Withdrawal | Only for Wire transfer ($50 - $100) |
Inactivity | 0.5% of the account balance/month |
Reactivation | $10 |
The only fee for a Contest account is the entry fee, which is $10.
CloseOption Personal Cabinet Features
The personal cabinet in CloseOption, like many other brokers, serves as a central hub for account management and trading activities. CloseOption binary broker Personal cabinet features:
- Account Overview: Current balance, open positions, and trading history
- Deposit and Withdrawal: Easy access to fund management options
- Trading Platform Access: Direct link to the “TradeRoom” platform
- Account Settings: Ability to update personal information and preferences
- Verification Center: For uploading KYC documents and checking verification status
- Bonus Information: Details on available and active bonuses
These features are designed to provide a comprehensive and user-friendly experience for traders, allowing them to manage all aspects of their trading account from one central location.
CloseOption Broker Indicators and Oscillators
CloseOption's TradeRoom platform offers a range of technical indicators and tools to assist traders in their analysis. CloseOption binary indicators:
- Moving Averages (MA)
- Relative Strength Index (RSI)
- Moving Average Convergence Divergence (MACD)
- Bollinger Bands
- Stochastic Oscillator
These tools help traders identify trends, overbought/oversold conditions, and potential entry/exit points. CloseOption platform features:
- Chart types: Line, Area, Candlestick
- Timeframes: 5 sec, 10 sec, 30 sec, 1 min
- Drawing Tools: 6 tools, including Fibonacci and trend lines
- Indicator Support: Basic only (no advanced overlays or custom scripts)
- Missing Features: No copy trading, no signals, no early trade closure
Deposit & Withdrawal Methods of CloseOption Broker
Close option Binary uses different methods for payments such as BTC and other cryptocurrencies. Close option deposit and withdrawal methods:
- Perfect Money
- WebMoney
- PayPal
- MasterCard
- Bitcoin & Other cryptocurrencies
CloseOption's support for cryptocurrencies is a notable feature, offering quick and often fee-free transactions. Important points of deposit and withdrawal in CloseOption binary broker:
- Crypto deposits will be done in 30 minutes;
- Deposit via other methods is instant, too, but in case of any bugs or problems, contact CloseOption support;
- Withdrawal requests will be processed in 1 to 3 working days;
- Withdrawal Minimums: $1 (crypto/e-wallets), $20 (cards), $500 (bank wires).
CloseOption Broker Copy Trade and Social Trading
Currently, there is no way to invest indirectly in close options. Thus, this relatively old broker does not support copy trade and social trading and does not plan to do so.
CloseOption Pros and Cons
The broker offers a generous profit return of up to 90% with a minimum trade size requirement of $1. Let’s weigh CloseOption's upsides against its downsides.
Pros | Cons |
A wide range of payment methods | Lack of tier-1 regulation |
Low entry barrier ($5) | No support for advanced platforms like MetaTrader |
20% deposit bonus | Limited asset offerings (Forex and Crypto) |
Trading competitions with prizes of up to $3,000 | - |
CloseOption Broker Trust Scores on Review Websites
The CloseOption Trustpilot profile has received good scores despite its limitations, including the lack of copy trading support. CloseOption Trust Score:
- Trustpilot: 3.9 out of 5 based on 52 reviews
- ForexPeaceArmy: 2.1/5 out of 17 reviews
- Reviews.io: 3.1 out of 5
CloseOption Broker Support
Customer support is a crucial aspect of any trading platform. CloseOption binary support is available 24/7 and there are multiple ways to contact. CloseOption support:
- 24/7 Availability: Round the clock support, accommodating traders from different time zones
- Multiple Channels: Live Chat, Email, Phone Support, ticket
- Multilingual Support: Multiple languages to cater to its users
- FAQ Section: Comprehensive FAQ available on the website for self-help
If you need more guidance, you can find the solution in CloseOption Guide.
CloseOption vs Other Binary Brokers
Here's a table comparing CloseOption features and services against IQ Option, OlympTrade, Pocket Option, and Quotex.
Parameters | CloseOption | ||||
Establishment Year | 2013 | 2013 | 2014 | 2017 | 2019 |
Maximum Return | 90% | Up to 90% | Up to 93% | 90%+ | 98% |
Minimum Deposit | $5 | $10 | $10 | $5 | $10 |
Minimum Trade Amount | $1 | $1 | $1 | $1 | $1 |
Number of Trading Assets | Over 25 | Over 250 | Over 100 | Over 100 | Over 400 |
Bonus | 44% Deposit Bonus, $10 Welcome Gift | No | Deposit Bonus | Welcome Bonus, First Deposit Bonus, No Deposit Bonus, YouTube Video Contest | Welcome Bonus, Deposit Bonus, Risk-Free Trades |
Maximum Leverage | 1:1 | 1:100 | 1:500 | 1:1000 | 1:1 |
Inactivity Fee | 0.5% of Balance / Month | €10 / Month | $10 / Month | $0 | $0 |
Writer's Opinion and Conclusion
With 2 account types [Real, Contest], $1 minimum trade amount, 44% deposit bonus and demo contest with real prizes, CloseOption provides a platform for binary trading. The spreads start from $1 and 0.5% of balance goes for inactivity fee.