OptionStars Review: As mentioned in many of our articles, that serious research is required before putting your hard earned money at work. As always, our endeavor is to scan every binary broker, new and seasoned alike, and test it under our rigorous review process to assist our readers in their quest for the best what comes to brokers and binary robots.
Today, we are going to review a fairly new binary broker, who has come up in 2015 and has been gaining the attention of the traders. The dealer is known as the OptionStars and following text underlines its pros and cons in detail.
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The OptionStars is powered by TradeLogic software which provides a range of choices in binary options trading. The software provides choices like one-touch, digital, range, turbo, and knock in amongst other advanced features to suit various categories of traders. The website takes pride in the security features through encrypted services of the highest level. The state of the art technological platform provides convenient, safe and secure trading environment to the traders.
The website of the OptionStars is aesthetically designed with vibrant colors to attract the aspirants. The website utilizes eye candy colors like shades of yellow, black, and white along with blue to provide the corporate look and feel. The tabs for trading, education, and informational webinars are placed on the tab for ease of access along with scrolling feed which provides real-time quotes for various assets. The website also features badges like “Premium Quality”, “The perfect Choice”, and “The Limited Edition” at the bottom of the page but surprisingly, clicking on those accolades did not give any results. The platform offers more than 200 assets, categorized under digital, touch up/down, range, turbo and one-touch. The assets include currencies, commodities, major indices and stocks, and above all, it offers to trade in various commonly traded futures such as SPI2000, S&P, DAX, NASDAQ100, Bund and Bovespa for the traders. The company addresses the needs of the complete set of traders ranging from novice to the professional ones.
The demo account or free account is just a click away; the trade now option on the top opens a demo account to get the feel of the platform. The trading requires a little practice to get the hang of the platform. The demo account allows trading in all the choices offered by the real account. The digital allows you to select call or put, of an asset for the expiry ranging from 60 seconds to 1 day. The range allows traders to select the expiry in a specific range to gain while touch up or down allows the trend selection for an asset. The turbo option gives an opportunity to select whether the asset will meet the definite target or not while the one-touch allows selecting whether the asset will touch the specified price or not. The site offers payouts ranging from 80 to 240 percent depending upon the type of option. The highest payouts are available in the turbo type binary options. The platform also shows live feeds of leading profit earners on the site which are updated frequently.
One of the eye-catching features of the site is about the learning and education. It has various option including introduction videos, binary e-book, advanced courses, and economics. The videos are developed keeping in mind the learning process of a novice trader and progresses as the learning improves. The site also features webinars for their members which feature experts of binary trading and provide learning to the trader community.
The OptionStars also provides a mobile application for their customers, available through Google and Apple app stores. This has now become a must have, a mechanism for all the traders who prefers trading while they are on the move.
Deposits and Withdrawals
The OptionStars offers the convenient deposit methods including the most popular ones like credit/debit card of Visa or MasterCard. It also accepts payments through e-wallets like Neteller and Skrill along with bank wire transfer as the preferred mode of payments. The minimum deposit amount is restricted to $250 while there is no cap on the maximum deposit amount. Currently, the company accepts payments in EUR, USD, GBP, CAD and AUD. Other than a wire transfer, all the deposit methods provide instant gratification in the account, while the wire transfer can take up to five working days for the credit to appear in the account.
All the deposit methods are also available as withdrawal methods but with certain restrictions. Credit/Debit card can withdraw a minimum of 30 units of chosen currency while for other methods the minimum limit is 100 units. The company requires you to fulfill the KYC guidelines before initiating a withdrawal which requires you to provide a copy of passport, copy of latest utility bill and scan copy of credit cards (with hidden middle credit card number). The company does not impose any fees on first withdrawal in a month, while from second withdrawal onwards it charges $30. The company takes between 2 ~ 5 days to process the withdrawal request.
Signup and Bonuses
The organization requires generic fields like first name, last name, contact number, e-mail address, and resident country for the enrollment, along with these details the organization requires passport copy, latest utility bill copy and copy of front and back of credit card to fulfill the KYC guidelines. We would request our readers to go through the terms and condition of the website before jumping on board.
Sadly, the OptionStars does not offer any bonuses on deposits, this is very disheartening as almost all the competitor offers bonuses ranging from 25 percent to as high as 200 percent of deposit amount. One of the bonuses which one can look for is a one-on-one training program for their customers. The organization offers only 3 types of account types for ease of understanding.
The company offers other tangible benefits with various account types, which are listed hereunder.
Payouts and Trading
The OptionStars offers payouts ranging from 80 percent to 240 percent to their customers. This is definitely one of the highest payouts in the industry. The highest payouts are available in the turbo type trading while other types of trading offer different payouts. The trading options are also vast to suit all the category of traders from novice to seasoned. It offers a variety of expiry options including tick-by-tick, 60 seconds, 300 seconds, 15 minutes, 30 minutes, 1 hour, 4 hours, and 24 hours. It also offers a variety of option types including digital, range, touch up/down, turbo, one-touch, forex and 5 ticks to their customers.
The company offers more than 200 assets for the trading including global indices, global stocks, currency pairs, commodities and select futures of popular indices. The array of assets and types of trading options can satiate entire gamut of traders. It is also heartening to see that the website is optimized for mobile platforms so that the traders who prefer to trade while traveling can take the advantage of the same. The mobile application has been developed for android platform and IOS platform to cover almost 95 percent of the mobile market. The mobile app is available through Google Play Store and Apple App Store for the downloads.
The OptionStars was established in 2015 and is owned and operated by the company named Novox Capital Ltd which is located at Nicosia , Cyprus.
The Novox Capital Ltd is licensed by the CySEC (Cyprus Securities and Exchange Commission) and has been awarded license number 224/14 dated 04/02/2014. You can check the registration details by CySEC site. Brokerage company accepts non-EU customers through OptionStars Global, which is an unlicensed broker.
To service their clients, the OptionStars uses skype, live chat, phone, and e-mail as their preferred mode of communication. The company has set-up a 24 by 7 service center which addresses the customer complaints in multiple languages. The website is also developed in multiple languages to cater to the global consumer base and the languages include English, French, Dutch, Russian, Italian, Spanish and Arabic.
The customer support is available through an e-mail. The company has set-up its call centers at four major destinations including United Kingdom, Canada, Germany, and Australia. The OptionStars global office is open during weekdays (Monday to Thursday) between 7:00 am to 11:00 pm (GMT), on Fridays it is open between 7:00 am to 9:00 pm (GMT) while it is closed on Sunday.
After the review of the OptionStars binary trading platform, it is clear that they have one of the highest paying options in the binary market. The website is neatly designed and provides several choices for the customers to trade. The range of asset provided by the organization is also quite exhaustive and provides expiry to suit the entire spectrum of traders. The disheartening fact is that it has a separate website for the clients from the European Union (which is registered and licensed by the Cyprus Securities and Exchange Commission) and rest of the world (Which is unregistered and not licensed). This means that the customers from the EU receive legitimate broker while the rest of the world has to deal with an unregistered broker. The exorbitantly high payout ratio also induces many doubts as many well-established brokers offer significantly lower payouts. The major discomfort comes from the fact that it does not offer any bonus on the deposit while many competitors offers bonuses up to 100 percent of the deposit amount.
The relatively new broker, the OptionStars is gaining ground in the market, still, we would suggest you stick with the well-established names. The names like Banc De Binary, IQ Option, and Option Robot have earned their reputation with consistent customer service, well-formed processes for providing world class services and above all, they are registered entities. These names also offer an array of assets and choices to their clients to cover the entire gamut of traders. They have streamlined withdrawal processes and have been paying on time on regular basis.
Overall, the OptionStars has competitive offerings but lacks in many areas. Hence, we would recommend our readers to choose from the well-established names like Option Robot, IQ Option and Banc De Binary for their journey to the top.
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Michael Allen is the main author at www.binaryoptionrobotinfo.com. He holds a PhD in Economics and has worked in investment banking for 24 years.
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