Close Option – binary options broker review

Close Option – binary options broker review title=

This Trading Platform is available in Ukraine

3.6/5
This broker is based in Georgia.
Min. deposit
$5
Demo account
Yes
Currency
USD
Supported languages
Eng
Active
Yes
Payment Methods
Bitcoin PaymentsEthereum PaymentsMastercardPayPalPerfect MoneyWebMoneyWire Transfer
Pros
  • New traders can get started with a $5 minimum deposit
  • CloseOption offers weekly trading tournaments with cash prizes
  • The user-friendly platform is compatible with most web browsers
  • Multiple global payment methods are available
  • Free demo account
Cons
  • Clients need to deposit $50,000+ to qualify for the best payouts
  • CloseOption is not regulated by a well-regarded trading authority
  • Binary options are only available on fiat and digital currencies
Bonus
Instruments
CryptoForex
Min. trade price
$1
Regulated By
National Bank of Georgia
MetaTrader 4
No
MetaTrader 5
No
cTrader
No
OmniTrader
No
AlgoTrader
No
TradingView
No
Trading Central
No
Autochartist
No
eSignal
No
STP Account
No
ECN Account
No
DMA Account
No
MAM Account
No
PAMM Account
No
LAMM Account
No
Demat Account
No
Margin Trading
No
Volatility Index
No
Spot Trading
No
Perpetual Swaps
No
ELWs
No
REITs
No
AI / Machine Learning
No
Robo Advisor
No
P2P Trading
No
Negative Balance Protection
No
VPS Hosting
No
Tournaments
No
Demo Competitions
Yes
Managed Accounts
No
Market Maker
No
Auto Trading
No
Social Trading
No
Copy Trading
No
Trade Signals
No
Islamic Account
No
Inactivity Fee
0.5%
Guaranteed Stop Loss
No
Stock Exchanges
National Bank of Georgia
Forex Trading
Yes
Forex GBPUSD Spread
No fee – payouts approx. 80% (Copper)
Forex EURUSD Spread
No fee – payouts approx. 80% (Copper)
Forex EURGBP Spread
No fee – payouts approx. 80% (Copper)
Forex Assets
20+
Crypto Spread
No fee – payouts approx. 40% (Copper)
Crypto Lending
No
Crypto Staking
No
Crypto Mining
No
Crypto Auto Market Maker
No
Crypto Coins
BCH, BTC, ETH, LTC, XBT
Binary Options
Yes
Expiry Times
30 seconds – 1 month
Ladder Options
No
Boundary Options
No
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* The amount that will be credited to the account in the case of a successful deal

*General Risk Warning: Your capital might be at risk

Trustpilot Real Time Reviews

Star

The Trustpilot rating is 3.6,
according to 41 reviews

4.5 Stars
Gift bonejankel
Gift bonejankel
stars
th
It is my favorite Binary Option website that is easy to use with a simple design that helps me not feel that trading is complicated. This website helped me practice my trading skills with free credits and emails that help guide interesting currency pairs. I think it's like a graphical game to play in my free time. However, I often try trading on demos until I'm confident for a while and then move on to real-money trading. I got some Gift Rewards from the web which will be available from time to time as well. I haven't made a deposit yet, but I've already withdrawn once. It's like we play games and get money like that. I believe that it can become my main income in some way once I improve my skills to a certain extent.

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Game Troop
Game Troop
stars
us
I've been using CloseOption for about 5 years now and the ability to deposit as low as 5 dollars and make 1 dollar trades really helped me during these years of developing the strategies I use. I remember when CloseOption was one of the only brokers that allowed 1 dollar trades for US traders. I've seen some negative reviews claiming that they were unable to withdraw ? This is total bull. Its super easy to withdraw and super quick. My last request to withdraw was completed within 2 hours. You make a request, confirm it in the secure email and it's done. No hassle or confusion. Anyway that's been my experience with CO. On the technical side, I wish I could use trends more effectively on the mobile platform but other than that CloseOption is awesome! Highly recommended! Joshua S.

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Lindelani Vincent Mabika
Lindelani Vincent Mabika
stars
za
Closeoption is the best binary options broker, I've been using it for somewhile now, making deposits and withdrawals. I can recommend this broker to everyone, their services are super! they provide free demo account to practice for free and even get bonus, and they also have competition that has real prizes, I give it 5 stars!

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Charles Thevnin
Charles Thevnin
stars
us
Great customer service. Quick response whenever inquiries and questions are posed. Reliable user friendly platform and always attentive to customer needs. Lastly, processing funds are quick and never an issue for me

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BINARY BEAST
BINARY BEAST
stars
us
Closeoption is the best binary options trading platform ,especially for USA traders. The withdrawals only take a couple hours. I tend to withdraw at bedtime and wake up to money in my paypal in the morning. Free weekly contests, a demo account and the customer support team is very efficient and reliable. Low deposit of $5 low minimum withdrawal of $1 (paypal). My only peeve is the limited number of trading tools. Other than that. Closeoption is the one for me.

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Monifa Smith
Monifa Smith
stars
tt
I have been with CloseOption.com for about 3 years now and I can confidently say that this is an exceptional trading platform. The user interface is incredibly simple, easy to navigate and execute trades flawlessly. Their quick withdrawal process is also a definite plus. The customer support team is highly responsive too. Overall, I am very satisfied with CloseOption.com and would highly recommend it to anyone looking for a reliable trading platform.

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Content

Trading binary options has become a popular way to invest in the financial markets – it’s a simple, quick way to earn a return on your investment. I know of a trader called Josef, a.k.a “The CloseOption Guy,” whom I’ve been swapping some trading ideas with for some time now.

He started using CloseOption way earlier than me, and has made a lot of money trading binary options with them. He first found success when he could correctly predict the direction of the EUR/USD currency pair.

Since then, he has not looked back and has consistently made profits trading binary options with CloseOption. He has even created articles and tutorials on how to trade binary options with CloseOption.

If you are just starting out in binary options trading, I highly recommend you check out some of his blogs on our site. One takeaway from successful traders like Josef is that choosing a reliable binary options broker is crucial to your success in binary options trading. That’s where CloseOption comes in.

CloseOption has built up its successful and reliable reputation since it started operation in 2013. What I like about CloseOption is that they offer a minimum deposit of only $5 and a minimum trade amount of only $1. This makes it very accessible for anyone trying out binary options trading.

What’s even better is that CloseOption offers a free demo account so that you can test out their trading platform before committing to a real account with your money.

What is CloseOption?

CloseOption is a binary options broker that was founded in 2013 and is headquartered in the country of Georgia.

It offers trading on a variety of assets, including commodities, currencies, stocks, and indices, and it is one of the few binary options brokers that accept clients from the United States and Canada.

What is CloseOption?

Most binary options brokers will agree that the rigorous regulatory requirements in the US and Canada are enough to deter them from offering their services to customers in those countries. However, most traders view CloseOption’s accessibility to US and Canadian citizens as proof that they are a reliable and trustworthy binary options broker.

The company is also registered with the Financial Conduct Authority (FCA) in the United Kingdom and is compliant with the MiFID regulations. CloseOption is also regulated and compliant with the regulations set forth by the Financial Action Task Force (FATF).

The company is diligent in taking measures to prevent money laundering and terrorist financing. To this end, they have a strict KYC (know your customer) policy to ensure that their clients are legitimate.

What makes CloseOption different from other binary options brokers is that they offer Islamic accounts, which are compliant with Sharia law. These accounts are swap-free and have no rollover fees. An Islamic account is beneficial for traders who wish to conduct binary options trading in a Sharia-compliant manner.

Another unique feature of CloseOption is that they offer bonuses to their clients. The bonus amount depends on the account type and the deposit amount. Unfortunately, these bonuses are not available to residents of the United States and Canada.

In addition to compliance with regulators, the company is regulated by the National Bank of Georgia. While binary options trading is not currently regulated in Georgia, the company’s compliance with National Bank of Georgia regulations provides an additional level of protection for traders.

Further reading

What CloseOption offers

What CloseOption offers

Account Types

CloseOption offers two account types: a demo account and a real account. The demo account is available to all traders and gives you the ability to test out the trading platform with $10,000 of virtual money.

The real account requires a minimum deposit of $5 and gives you access to all of the features of the trading platform, including live market quotes, real-time charting, and social trading. There is also a contest account, which is a competitive account type that offers cash prizes to the top traders every month.

You can also climb your way up to a VIP account that comes with special perks, such as access to trade and administration assistance. The tiered account system allows you to access additional features as your trading skills improve, and they are based on the deposits you make on your real account.

Security Features

CloseOption takes security seriously and offers several features to protect your account. These features include two-factor authentication, SSL encryption, and a dedicated team to monitor suspicious activity. For US and Canadian traders, your funds are held in a segregated account at an FDIC-insured bank.

There is a rigorous verification process to open an account, which ensures that only serious traders are using the platform. While this might appear as a hindrance at first, it’s a necessary component to keeping the trading environment safe and secure.

CloseOption boasts numerous positive reviews in terms of its safety features. A glance at user reviews online and you will see that safety is one of the things that traders like about this broker.

Trading Platforms

CloseOption offers two trading platforms: a web-based platform and a mobile app. The web-based platform is available in English, Russian, Portuguese, Spanish, and Turkish. The mobile app is available in English and Russian. Both platforms are user-friendly and offer a variety of features, including live market quotes, real-time charts, social trading, and an economic calendar.

Forex and Crypto Trading

In addition to binary options trading, CloseOption also offers forex and cryptocurrency trading. The forex trading platform offers more than 30 currency pairs, including major, minor, and exotic pairs. The cryptocurrency trading platform offers a selection of popular coins, such as Bitcoin, Ethereum, Litecoin, and Ripple. What’s more, making crypto deposits comes at zero fees.

Customizable Trading Room

CloseOption’s trading room is fully customizable, which allows you to set up the platform in a way that suits your trading style. You can also customize the charting interface and indicators to suit your preferences. With CloseOption’s trading room, you have access to technical analysis tools, economic news, and a variety of other resources that can help you make informed trading decisions.

Intuitive Dashboard

If you are just getting started with binary options and need a straightforward platform, then CloseOption’s dashboard is perfect for you. It’s an interface that’s easy to navigate and provides information at a glance which you can use to make informed trading decisions.

AML Compliance

CloseOption is compliant with Anti-Money Laundering (AML) regulations and Know Your Customer (KYC) guidelines.  The broker requires all new clients to complete a verification process, which typically takes 1-2 business days.

Supported Payment Methods

CloseOption supports a variety of payment methods, including credit/debit cards, bank wire transfers, e-wallets, Perfect Money, Webmoney, and crypto. The minimum deposit is $5 for credit/debit cards and $500 for bank wire transfers. Withdrawals are processed within 1-3 business days.

Customer Service

CloseOption offers customer service via email, telephone, and live chat. The customer service team is available 24/7 and is quick to respond to inquiries. Overall, CloseOption is a reliable binary options broker that offers a variety of features and services to its clients.

If you’re looking for a binary options broker that serves clients from the United States and Canada, CloseOption may be a good choice.

Further reading

How does CloseOption compare to other brokers?

The best way to make a conclusive decision about the broker you want to choose is to evaluate its platform and services in comparison to other brokers. Here is a quick look at how CloseOption compares to its competitors.

How does CloseOption compare to other brokers?

Minimum deposit: CloseOption offers a minimum deposit of $5. Rival companies such as IQ Option and Binary.com require a minimum deposit of $10. What’s more, you can start trading binary options on CloseOption with as little as $1, which is quite affordable compared to its competitors.

Maximum Payout: CloseOption offers a maximum payout of 95%, which is higher than the industry average. For example, Binary.com and IQ Option offer a maximum payout of 92%. Supported Payment Methods: CloseOption supports a variety of payment methods when compared to its competitors.

Customer Service: Most popular brokers offer customer service via email, telephone, and live chat. The customer service team is available 24/7 and is quick to respond to inquiries. CloseOption is no different in this regard.

Trading Features: When it comes to trading features, a good broker will offer a variety of options and resources to its clients. CloseOption provides access to technical analysis tools, economic news, and other resources that can help you make informed trading decisions in its trading room.

The company even goes as far as offering its VIP clients a personal account manager. This is quite remarkable, considering platforms such as IQ Option only offer this service to clients who deposit $1,000 or more.

Intuitive Dashboard: Ease of use is a must-have for any good broker. CloseOption’s dashboard is designed with the user in mind, with its streamlined platform making for a pleasant and stress-free trading experience. When compared to rivals, CloseOption comes out among the top brokers in terms of user-friendliness.

Further reading

Factors to Consider while Choosing a Broker

If you’re looking for a binary options broker, there are several factors you should take into consideration.

Factors to Consider while Choosing a Broker

The first thing you need to have in mind is whether or not the broker is regulated and licensed by a reputable authority. This is important because it will ensure that your broker is held to high standards of conduct.

While most traders are attracted to binary options trading due to the ease of use and high profits that can be made, it’s important to remember that this is a risky investment. You need to make sure you’re entrusting your trades to a broker who isn’t fraudulent.

Another thing to consider is the minimum deposit. A good broker will have a low minimum deposit so that you can start trading with a small amount of money. As we mentioned before, CloseOption has a minimum deposit of $5, which is lower than the industry average. This makes it a good choice for traders who are just starting.

You should also consider the maximum payout when choosing a broker. This is the amount of money you can potentially make on a successful trade. As we mentioned, CloseOption offers a maximum payout of 95%. So far, the company has over 1.5 million diamond members and continues to offer contests and bonuses to encourage traders to stick with the platform.

Next, look at the fees. Most brokers will charge a commission on each trade, as well as a withdrawal fee. You should also take into account the spreads offered by the broker. The smaller the spread, the better.

Further reading

FAQs

Is CloseOption a reliable broker?

Yes, CloseOption is considered to be a reliable broker. The company is licensed and regulated by one of the most respected regulatory authorities in the world. Additionally, the company has a strong customer service team that is available 24/7.

What is the minimum deposit for CloseOption?

The minimum deposit for CloseOption is $5. This is lower than the industry average, making it a good choice for traders who are just starting out.

What is the maximum payout for CloseOption?

The maximum payout for CloseOption is 95%. So far, the company has over 1.5 million diamond members and continues to offer contests and bonuses to encourage traders to stick with the platform.

What are the fees charged by CloseOption?

Most brokers will charge a commission on each trade, as well as a fee for withdrawal. You should also take into account the spreads offered by the broker. The smaller the spread, the better.

Conclusion

All in all, CloseOption is a good choice for those looking for a reliable binary options broker.  The company offers a low minimum deposit, high maximum payout, and a user-friendly platform. If you’re looking to start trading binary options, you can feel confident giving CloseOption a try.

It is one of the best international brokers. Different types of assets, convenient and reliable platform, favorable trading conditions. Want to know more? Click here.

Further reading