Review of the Binary Options Broker Dragon Options
Dragon Options is a binary options broker founded in 2011 which offers Above/Below and One Touch options based on many assets (underlying markets) like Forex, stocks, commodities and indices. This broker offers a web based trading platform and some extra features such as custom options, 60 second binary options and educational resources to its clients.
Type of Broker
Dragon Options is a Binary Options Broker.
Country of origin
The headquarters of this broker are located in Cyprus with offices in other countries like United Kingdom.
No information about it.
- Forex Market: 15 currency pairs of the Forex market, including the most important like the EUR/USD, GBP/USD and USD/JPY and other more exotic like the USD/RUB and USD/TRY for example.
- Commodities: 8 of the most traded and important commodities in the market including crude oil, gold, silver, platinum and coffe.
- Stocks: 58 stocks of the main financial markets in United States, Europe and Asia including Amazon, Boeing, Apple, Google, Barclays, Fiat, HSBC Holdings, Tata Montors and Nissan Motors among other.
- Indices: 35 stock indices. In this case the clients of Dragon Options can trade with binary options based on the main indices of the market including Dow Jones, S&P 500, FTSE 100, CAC 40 Nikkei 225 and Hang Seng among other.
Types of Binary Options
Dragon Options offers its clients the the possibility to trade with the following types of binary options:
- Above/Below Binary Options: This is the most common and traded type of binary option in the market thanks to its simplicity and the high and fast income that it offers to the trader. In this case the trader must establish if the underlying asset price is going to end above or below the acquisition price once the option expires. In other words, the trader must predict if the price goes up or down. Usually, the expiration period of the Above/Below options offered by Dragon Option is 1 hour, but this value can vary. For example, the trader has the possibility to trade with 60 seconds options
- One Touch Binary Options: It is a more complex type of binary option in which the trader must predict if the price of the financial asset (the underlying asset) will reach or not a predetermined price level. If the price touches that level, the option automatically expires without terminating its expiration period. Normally, these options have a longer expiration period than the Above/Below options and offer a better performance up to 500%.
- Customized binary options: These are customized above/below options in which the trader can modify the main parameters of the option such as the expiration period, the underlying asset, the earning offered if the option expire “In The Money” and the risk level of the operation. In this way, the clients of this broker can trade with options completely adapted to their needs and trading strategies.
- 60 seconds options: These are Above/Below binary options with an expiration period of just 60 seconds. For this reason, 60 seconds options are ideal for traders who want to take advantage of market micro movements and carry out a large number of trades per day.
Payment Offered by Dragon Options
- Above/Below Binary options: 70%-80% of the capital invested in the option.
- One Touch Binary Options: 75% to 400% of the contract inversion.
- Dragon Basic: This is the basic trading account of this broker which can be opened with a minimum deposit from $1-$999. This account offers different features such as a personal account manager, a first deposit bonus, daily and weekly market reviews, 24 hours online support and 3 days withdrawals.
- Dragon Pro: It is a trading account designed for traders with more experience in the market and specially with binary options. This account requires a minimum deposit from $1000 to $4999 and it offers different advantages like a personal account manager, a first deposit bonus, daily and weekly market reviews, 24 hours online support, private trading, a bonus program and 3 days withdrawals.
- Dragon Premium: This trading account was designed for professional traders and big investors. For this reason it requires a minimum deposit of $5000. The Dragon Premium account offers different advantages such as a personal account manager, a first deposit bonus, daily and weekly market reviews, 24 hours online support, private trading, a bonus program with exclusive bonuses and step by step trading among other.
-Regular trading platform of Dragon Options: This web based platform allows to trade with Above/Below and One Touch binary options based on all underlying assets offered by this broker. This application includes different features such as basic price charts, updated quotes, position management tools (which allow to open new trades and monitor the options that are still active) and other. Also, it offers the following additional functions:
- Option Builder: With this tool, the traders can design their own binary options according to their needs and trading strategies. In this case, the trader can modify the main parameter of the option, such as the expiration period, the underlying asset, the risk level of the trade and the potential gain if the option expire In the Money. Through Option Builder, the traders can customize their trades with binary options.
- Roll Over: This function offers the possibility of extending the expiration period of a binary option. Thanks to this is a very useful tool in those trades in which the trader predicts that an option that is “Out The Money” for the moment presents a high probability of expiring “In The Money” if the contract period is extended. However, this function should be used carefully as there is always the possibility that the option expires “Out The Money” even with the extended period
- Double Up: Through this function the clients of this broker have the possibility to increase the volume of their trades. For example, if an option is close to its expiration time and the trader predicts that the underlying asset price will continue in the same direction, he can create a new trade with the same conditions but for the current price of the asset. In this case, this feature allows the trader to double the profit that he can get in a trade.
For the moment, Dragon Options does not offer a demo account, but the real trading account can be opened free of charge.
Main Advantages of Dragon Options
- This broker offers regular promotions and bonuses for new clients that open a trading account and deposit funds.
- The trader has the possibility to trade with several types of binary options based on many financial instruments (underlying assets).
- Dragon Options offers specialized daily and weekly reviews of the market.
- The process of opening a trading account with this broker is simple and fast.
- Dragon Options allows to extend the expiry time and to double the investment.
- The client of this broker has the possibility to extend and reduce the expiration period of an option.
- The client can trade with customized binary options and 60 seconds options.
- This broker offers a good customer service through e-mail, telephone and live chat in its website.
- For clients with Dragon Pro and Dragon Premiums accounts this broker offers private trading and step by step trading.
- The customers support includes a personal account manager.
- This broker offers many educational resources to its clients.
- Dragon Options offers the possibility to earn money by promoting its services as a binary option broker through an affiliate program called Dragon Options Affiliates.
Main Broker Offers
Dragon Options offers regular promotions and bonuses for new clients. Currently, the main offers of this broker are the following:
- A $100 free risk trade bonus for a deposit of $300.
- It will offer a bonus program in the near future.
|Minimum account size||
The minimum deposit to start trading with this broker is $200.
|Minimum transaction size||25 US dollars/euros.|
|Maximum transaction size||1500 US dollars/euros.|
|Link to the website|
|Open an account|