TopOption is a Nicosia, Cyprus based company, owned and operated by Safecap Investments Limited. Being a well-established company, Safecap is a popular name in Forex and binary trading industry. The company offers more tradeable assets than any other broker in the industry. They’re licensed to operate in Europe.
What sets them apart from other conventional brokers are the following:
- It was established by experienced financial analysists that hoped to create a service for beginners as well as experienced traders.
- They have outstanding payouts and advanced expiry periods.
- They constantly improve their educational tools and provide tips and manuals to enhance the knowledge of traders.
- They offer live support in case of queries.
- Their advanced features—“Buy Out Options”, “Stock Pairs” and “Trader’s Choice” make trading safe, easy and enjoyable.
- They have a special resource centre where curious traders can study sophisticated trading via e-books, videos and webinars. The best part is all of this is totally free of cost.
- They provide a weekly market report to keep you updated.
Is Top Option a Scam?
Reliability of a trading platform is determined by: their website traffic data, verifying their physical location, studying their terms and conditions and checking their regulatory information.
Talking in terms of operations, for any Cyprus based institution to commence trade, they need to be licensed and registered under the Cyprus Securities Exchange Commission (CySEC). Top Option is licensed under the jurisdiction of CySEC and holds a valid license number (092/08).
Besides regulating their operations, CySEC offers investment compensation protection to TopOption traders. It means, should the broker become insolvent, the client can claim up to 20,000 Euros/GBP under this scheme. Since, TopOption is licensed to function in the European Market, they have to comply with standards set by the European Parliament under the “Markets in Financial Instruments Directives 2004/39/EC”.
The crux of the matter is they aren’t con artists that run away with people’s money.
Trading Platform, Options and Software
Trading Software:
Like many other binary options brokers, Top Option uses the ‘KeyStone’ trading software to commence their operations. Their trading software is user-friendly, easy to use and comprehensible. It works best in case of 60 seconds options and Call/Put that offer swift returns on your money. You can also test your luck in strategix trading, pro and above/below options.
Trading Charts:
When commencing a trade on TopOption, you can monitor active trades on the trading charts available at the centre of the screen. You don’t need to download any data because all information is available on the website itself. The personal details are SSL encrypted to prevent third party hacks.
Types of Trades:
Top Option offers 5 types of trades.
- Classic Binary Options
The most popular trade that lets you predict the future price (high/low) of the options after expiration of trading contract.
- 60 Seconds
Short-term trades that get processed within a minute. They’re best alternatives for impatient traders who want swift returns.
- One Touch Binary Options
If your trading prediction turn out to be correct, these trades provide you profits as high as 500%.
- ProOption
A ProOption Trade is relatively new in this field. In this case, traders select between two types of assets and face them off when processing trades.
- Option Builders
This type of trade lets you exercise control on various trading aspects. They let you modify percentage returns by determining risk-reward ration. Thus you can influence the trade expiry outcome, as per your own will.
Types of Assets
Top Option lets you choose among 180 assets on their trading portfolio—one of the most comprehensive portfolios in the industry.
Analysis Tool
Strategix is a self-designed tool for market analysis that facilitates advanced binary option trading and quick trading.
The minimum deposit value is 100 Euros.
Bonus & Promotions
Being a CySEC-regulated broker, Top Option no longer provides bonuses on binary options trading. Nevertheless, you can always request up to 25% amount on initial deposits (subject to a maximum value of £2500). This bonus may not be beneficial for you as it restricts your trading by attaching specific terms and conditions for withdrawal.
Mobile App
Mobile trading is available but we didn’t find much details on their app.
Different Types of Accounts Offered
The website offers 3 types of trading account.
- Starter Account
No fees, Custom-tailored stake sizes, minimum deposit value is 100 Euros, Protected under investor Compensation funds, Risk management Tools available.
- Pro Account
All benefits of starters account included, Access to Strategix tool, Regular newsroom updates and alerts, Minimum deposit value is £ 1000, 24×5 live support, Extensive Material in the e-video library, 1-on-1 introduction to binary trading.
- VIP Account
All benefits listed under a pro account, 1-on-1 trading tips for 3 hours, Advanced e-video library, Minimum deposit value 5000 EUR Expert account manager, Professional Trading platform and Faunus report available.
All their funds are safely held in various banks of Switzerland, UK and Germany.
Payouts
Though payout depends on the nature of trades, their average payout% is 85. However, it can go as high as 500%.
Regulation
Not many people know that Top Option is MiFID compliant. The MiFID aims at harmonising the regulatory framework of various financial services within Europe by setting up minimum fiduciary duties for individual financial providers in Eurozone.
Is Demo Account Available?
Demo Account or practice account minimises the risks in trading, as traders use virtual money for learning purpose. Unfortunately, the website doesn’t provide any such provision.
Countries Available
Top Option is available in Australia, Austria, Belgium, Cyprus, France, Netherlands, Spain, UK and a few more countries. Each country has a specific dedicated helpline for itself.
Final Verdict
What’s Hot?
- Mobile and Browser trading
- Comprehensive tools for analysis and study
- Swift and efficient online trading platform
- Broad-ranging list of assets
- Comprehensive educational centre
- Bonuses worth 2500 Euros available on request
- Fairly decent returns on trades
- Wide list of trades
- Regulated by CySec
What’s Not?
Other than being a new broker in the town, Top Option hasn’t provided much information on their office address or company. Though, they’ve provided a list of hotline numbers for various officers. Traders can contact their home branch on these numbers.
After studying all the advantages and disadvantages of Top Option trading platform, we conclude that it’s worth a chance. Any trade who’s interested in acquiring information on options and wish to trade with a CySEC regulated broker may consider it. Since, Europe has already tightened the noose around brokers in Eurozone, Top Option is among those few brokers that comply with MiFID standards. In short, you can conduct risk-free trading with Top Option.