Review of the Binary Options Broker Grand Option
Grand Option is a binary options broker from Cyprus which offers various types of options and more than 50 underlying assets including currency pairs (Forex), commodities, indices and stocks. This company was founded in 2013 and offers different services for the trader specialized in binary options, including a web-based trading platform. Also, it has a license of CySEC. This broker belongs to the same company owner of the famous binary options broker 24Option.
Type of Broker
Grand Option is a Binary Options Broker.
Country of origin
The headquarters of this company are located in the Cyprus.
This broker has the regulation of CySEC (Cyprus Securities and Exchange Commission) of Cyprus, license number 207/13.
This broker offers the possibility to trade with Binary Options based on the following underlying assets:
- Forex Market: 21 different currency pairs, including the most important such as the EUR/USD, GBP/USD and USD/JPY and other more exotic like the USD/TRY and the EUR/ZAR.
- Commodities: 8 of the most important and traded commodities in the market including coffee, gold, silver and oil (Light Sweet Crude).
- Indices 16 of the main stock indices of the market. In this case Grand Option allows to trade with options based on indices like Dow Jones, S&P 500, FTSE 100, Bombay SE and Nikkei 225 among other.
Stocks: 30 of the main stocks of the US market, the European market and the Asian market, including Google, Apple, Nike, Barclays, Tesco, Fiat, Sony and tata Motors among other.
Types of Binary Options
Grand Option offers the possibility to trade with the following types of binary options:
- Regular Call/Put binary options (High/Low and Above/Below): This is the most common and traded type of binary option due to its simplicity and the high and fast income that it offers. With these derivatives, the trader must predict whether the price of the underlying asset will finish above or below the strike price of the option (can be the market price at the time in which the option is adquired or a predetermined price level located away from the the current market price). Grand Option provides High/Low and Above/Below options with a variety of maturities ranging from 60 seconds to several months.
- High/Low options: These are binary options in which the exercise price is equal to the current market price at the time the option is purchased.
- Above/Below options: These are binary options whose exercise price is a predetermined price level which can be above or below the current market price. These options tend to offer higher yields payments compared to High/Low options.
- 60 Seconds Binary Options: These are High/Low options with an expiration period of just 60 seconds. For this reason these are ideal binary options to take advantage of micro movements (these movements are produced many times a day) in the market with a duration of 1 or 2 minutes. 60 seconds options are an excellent choice for traders who prefer to perform fast trades (fast entries and exits) in the market.
*The performance offered by the custom options depends on the combinations of variables selected by the trade
Payment Offered by Grand Option
The yields or profits that offer binary options of Grand Option that expire In The Money (winning trades) depend mainly on the type of contract, the underlying asset, market conditions and other factors, as shown below:
- High/Low Options: A yield of 65%-85% of the amount invested in the contract.
- Above/Below Options: A yield of 80%-310% (sometimes even more) of the amount invested in the contract.
- 60 seconds Options: A yield of 65% -80% of the amount invested in the contract.
Regarding the losing transactions (binary options that expire Out The Money), the client loses the amount invested in the contract (premium).
Grand Option offers various types of trading accounts for clients with different profiles, which have the following characteristics:
- Standard Account: Is the regular trading account of the broker Grand Option and was created for beginner traders. It provides access to an online trading platform and all types of binary options and underlying assets. Through this account, the customer can access the educational resources of the company and expert support 24/7.
- Gold Account: This is an account trading for more experienced traders in the field of binary options. Through this account, the customer has access to all services offered by the Standard accounts, including additional advantages such as one on one personal training with an expert analyst, access to a market expert who provides assistance to manage the trading portfolio and an additional return of 2% for each trade that ends In The Money.
- Platinum Account: An account of Grand Option created for professionals traders with experience in binary options (VIP clients). Through this account, the customer has access to all services offered by Gold accounts plus additional advantages, such as numerous incentives, access to a personal market expert 24/7, personal training sessions with senior company analysts and an additional return of 4% for each trade that ends In The Money.
- Diamond Account: It is a special type of account that gives the trader access to special services that are not available to other accounts of Grand Option. Through this account, the customer has access to all services offered by the Platinum accounts together with additional advantages, such as a dedicated personal trainer who is always available for consultation, personal training sessions with experts of the company, the ability to withdraw funds without paying commissions and others.
This broker offers an online trading platform which requires no download or installation, and can be accessed directly from the website of Grand Option. Thanks to this, this application allows the trader to access their account and trade from anywhere with an Internet connection. This platform is based on TechFinancials system, one of the most modern to trade with these derivatives.
Grand Option platform specializes in various types of binary options, based on all the underlying assets offered by this broker to its clients. Furthermore, it is characterized by a simple and user-friendly interface (even for novice traders). Along with positions management tools, this application has various trading functions such as updated price quotes and simple price charts. With just a few clicks the trader can select the type of option, the underlying asset, the expiry time and the amount to invest in the option (the premium).
The main additional features that this platform offers are:
- Early Closure: A function that allows the trader to close a trade before the expiration of the option. Thus, the trader can ensure profits for those options In The Money in which the market can change its direction and move against the trade before the contract expires. Therefore, it can be very useful when the market shows signs that can change its behavior at any time. Of course if an option is closed prematurely, the yield obtained by the trader is lower.
For the moment Grand Option does not offer a demo account for their clients.
-The customer can deposit/withdrawal funds through Bank Wire Transfer, Credit Card (the most important like Mastercard and VISA), Skrill, Neteller, WebMoney, OKPay and cashU.
Deposits can be made in EUR, USD, GBP, JPY, TRY and RUB.
Main Advantages of Grand Option
- It is a properly regulated binary options broker (CySEC of Cyprus).
- Grand Option offers regular promotions for both new and existing customers, including bonuses of up to 100% to open an account and deposit funds.
- The trader has access to several types of options and a variety of underlying assets to trade with these derivatives.
- Grand Option provides a good customer support service.
- The trader has access to updated news and market analysis by experts.
- Access to various educational resources for the trader including:
- Complete video tutorials about binary options and the market in general for advanced and novice traders. These tutorials are about a variety of topics such as market analysis and trading strategies.
- Educational articles on the website of Grand Option.
- Free Webinars
- A free e-book about trading in general.
For more advanced types of accounts, this broker offers access to a market expert, one on one training with expert analysts of the company and a number of services and advantages.
Customers of this company can participate in a trading contest offering great prizes to the winners.
This broker offers the opportunity to earn money by promoting its services as a broker through an associated affiliate program called 24Options Affiliates.
Main Broker Offers
Grand Option offers interesting bonuses for new and regular clients. These bonuses depends on the amount of money deposited by the investors in their accounts.
- A welcome bonus of 50% or 100% for new clients that open an account and deposit funds.
|Company||Grand Option is owned by the company Rodeller Limited|
|Minimum account size||The minimum deposit to start trading with Grand Option is $250, depending on the currency chosen by the client to open the trading account.|
|Minimum transaction size||20 US dollars/euros.|
|Maximum transaction size.||20000 US dollars/euros.|
|Link to the website|
|Open an account|