Closeoption Review 2024

Closeoption binary is regulated by national bank of Georgia and more than 30 symbols are available to trade. Over 3.5 million traders use this broker because of 95% 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;
• Offers trading on over 30 forex and cryptocurrency assets;
• Proprietary TradeRoom trading platform;
• Minimum deposit of $5 and minimum trade size of $1;
• Maximum payouts up to 95% 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, Closeoption 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:

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 offer increased payouts (up to 95% 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 95% on some assets.

Contest Account

• Participate in weekly trading competitions;
• Trade with virtual money;
• Cash prizes up to $3000;
• Requires a minimum $500 balance in real money account.

All close-option competitions are held as demo, and traders compete with virtual money.

How to register in Closeoption broker? Step-by-step guide

In order to use Closeoption, you need to register in this broker. Here's a step-by-step process:

1. Visit the Closeoption website and click on "Register" button.
2. Fill in the registration form with your personal details such as Full name, Email address, nickname and Country of residence.
   

   

3. Agree to the broker's terms and conditions (read them carefully).
4. Click on Sign Up.
5. Choose your preferred account, deposit and start trading.

Close Option Binary Bonuses

CloseOption regularly offers various bonuses to traders. Currently, the active one is a 20% deposit bonus, which is awarded to all traders and deposits.

In addition to the bonus, we found out in the CloseOption Review 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:

The only fee for 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: Displays 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 oscillators 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.

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.

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 broker Trust scores on review websites

During the Closeoption Review, we discovered that this broker had received good scores on review websites [Trustpilot, ForexPeaceArmy, Reviews.io] 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: Support is offered round the clock, accommodating traders from different time zones;
• Multiple Channels: Live Chat, Email, Phone Support, ticket;
• Multilingual Support: offers support in multiple languages to cater to its users;
• FAQ Section: Comprehensive FAQ available on the website for self-help.

While some users have reported positive experiences with Closeoption's support team, others have mentioned issues with response times and resolution of complex problems.

Trading Finder Writer's opinion and conclusion

With 2 account types [Real, Contest], $1 minimum trade amount, 20% 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.