OptionClub review 2023: should you sign up?

Optionclub is a Dutch binary options broker that has come a long way since its inception. It is part of Index BV. Initially, the broker’s name was Optieclub, and it came onto the scene in 2011.

However, the broker started operating in 2013. Now, it is Optionclub and provides trading for European traders.

Optionclub homepage

Yes, it restricts traders from everywhere else. This broker has an unusual story (I’ll get to it in a minute). It lacks in some areas while standing out in others. As we go through this review, you’ll learn a lot about the broker.

Who regulates Optionclub?

When I visit any broker’s website, I look for the regulation page. It wasn’t hard to find the broker regulation at Optionclub I just had to scroll down a bit. So, let’s find out more.

When you scroll down to the bottom of the homepage, you can see the broker’s regulation. Optionclub is regulated by AFM (Netherlands Authority for the Financial Markets).

Optionclub regulations

But one may wonder, “Binary options in the Netherlands? What’s the story?” Remember I told you that this broker has a story to tell? Well, this is it.

AFM prohibits binary options. So, Optionclcub fought a battle with the Dutch regulator to make binary options legal in Europe. Although AFM, at first, refused to grant them a license. Yeah, it’s a bit shocking!

The courts in the Netherlands eventually decided that binary options are investing. At last, Optionclub got its license.

How does Optionclub work?

Optionclub seems different from other brokers. So, which assets do they provide? Is the information available? Let’s find out!

When looking for tradable assets, you’ll come across stock indices. Here’s a list of them

• NED25
• US30
• S&P500
• GER30
• UK100

So, you see, you can only trade stocks. I didn’t like that because I’m a forex trader and want to see some pipping action. Unfortunately, I didn’t get that from Optionclub.

I have to tell you something important. Optionclub defines binary options differently than other brokers. I didn’t find out initially, but I came across it once I got the hang of the platform. So, in addition to the high/low binary, XL and Flex choices are available.

XL options are a fancy term for high/low binary options close to expiration. Flex options aren’t closed by the expiry date. They are instead closed due to price volatility.

How does the Optionclub platform work?

Optionclub has a complex platform. You may need to dig in to learn about the platform. It’s not beginner-friendly. That was the first thing I noticed! Optionclub offers a native platform.

Web platform

Trading at Optionclub is entirely web-based, as with most binary options brokers. The web interface is unappealing and lacks utility. The entire website is dated, and there is a need for development.

It is not surprising, given the limited product portfolio. You can click on one of the 20 options in your account. Choose “higher” or “lower” and click “execute,” and that’s it.

Mobile and tablet

The broker does offer an app for mobile and tablets. It offers the same features as the web platform.

Optionclub platform

What trading indicators are available?

Trading indicators are helpful in every type of trading, for both beginners and experienced traders. Optionclub has minimal assets to trade. Still, traders can use the following indicators to predict the market.

• Relative Strength Index
• Bollinger Bands
• Intraday Momentum Index
• Money Flow Index
• Simple moving averages and many more

I like to keep things simple and so does Optionclub. It only offers one account type. The overall trading conditions were OK for me.

Does Optionclub offer a demo account?

Yes! Like other brokers, Optionclub offers a demo account to its traders. The account allows you to practice in real time on actual stock markets. You are under no obligation ever to deposit money with this demo account.

The practice account includes €10,000 in virtual money that you may use to trade options. By making your first deposit, you can convert your account to a genuine account. They will convert your demo account instantly to a real account.

There is free advice and methods, as well as financial market news. Of course, this is ideal if you want to generate a good investment return.

Optionclub is a legitimate broker, as I told you earlier. Netherlands Authority for the Financial Markets (AFM) has approved the broker.

The AFM ensures that everything is fair and that you are not taken advantage of. That’s why I am confident that this broker is trustworthy. Besides, as a licensed broker, you can get protection for up to €20,000 from the De Nederlandsche Bank.

The headquarter of Optionclub is in the Netherlands. The location of the broker is De Hooge Krocht 2-H, 2201 TX Noordwijk, Netherlands.

Who owns Optionclub?

Optionclub started as Optieclub.nl. Thijs Bloemink founded the broker.

Here are several methods for depositing funds into the account.

• iDEAL
• Giropay
• Visa
• Mastercard
• American Express
• Bank transfer

How to withdraw funds from an Optionclub account?

You will want to withdraw the cool bucks you made. You can withdraw money anytime you want with Optionclub. But what are the methods available? Let me tell you.

Bank transfers and credit cards are the only options for withdrawals. The fact that Optionclub is a Dutch broker is a significant benefit. It means you might have your money in your account within one business day. There are no additional charges for this.

Customers can contact customer care via live chat or email. You can reach customer care by email at memberservices@optionclub.com. If you prefer phone communication, you may also arrange a callback request.

Optionclub contact page

Unfortunately, Optionclub doesn’t provide any promo codes.

Does Optionclub offer bonuses?

I do love bonuses. I mean, who doesn’t like free stuff? What are some of the bonuses Optionclub offers? Let’s check it out. All traders have the opportunity to receive a 100% first-deposit bonus. So, that’s cool!

Looking for no-strings-attached trading bonuses? Check out Weltrade promotions.

I didn’t see any tax info on the Optionclub website. However, AFM does require the filing of your trading taxes.

My buddy recommended Optionclub to me, and I wanted to give it a try. I tried to sign with the broker back in 2019. The sign-up process was a bit complex. After going through a puzzling process, I did sign up.

So, I liked the native platform because that’s the only one the broker provides. I did trade on it for like three months and couldn’t find proper info when I needed it. The broker’s regulation makes things safer, but navigating the website is hard.

What is the expiry time of an option?
On the Optionclub platform, the expiry time for an option is from 10 minutes to one day.

How can I buy options?
If you are logged in to your Optionclub account, you are redirected to Optiondesk. From there, you can decide for which asset you want to buy options.

How can I cancel my account?

You need to contact the support team to cancel or delete your Optionclub account. They’ll guide you further in the process.

Final thoughts

So, there you go! Optionclub is a regulated broker but lacks in some areas. The broker must improve account types, the variety of tradable assets, and platforms. Also, they need to make their site more user-friendly.

I mean, it shouldn’t take eons to get to the info you need. Having opened and closed an account there, I would give Optionclub 3/5.

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