We have found out that Option.fm has shut down their operations.
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In 2014 a new binary options broker burst onto the scene that everybody started raving about; that broker is Option.fm. Those of us here wondered what all the fuss was about that made this broker so popular in such a short period of time. So as is our tradition, we decided that we would take a look at this broker that is attracting a large number of binary options investors even though it is just in its infancy.
The second we clicked on the icon to take us to the broker we were immediately thrilled when we arrived at the website. The menu items that were available to guide us where we needed to go were laid out nicely and easy to understand. The site was well designed and looked great, to say the least. We were definitely anxious to sign up and get started; we wanted to see if this site performed as well as it looked and as their positive customer reviews indicated.
Online since: 2014
Max Returns: 91%
Minimum Deposit: $250
Minimum Investment: $1
Maximum Investment: $5000
Currencies: USD, EUR, GBP
Countries: All nations excl. USA and Africa
- Great deposit bonus
- A wide variety of options to choose from
- Returns on investment as high as 91%
- A very user-friendly platform
- $1 minimum investment
- No customers from USA or Africa accepted
- Trial Account does not include customer support
Signing up for the Option.fm website was a very easy process, to say the least. It just takes filling out a simple form to verify your identity; no biggie since it is for your own security and it should give you a good peace of mind to know that Option.fm goes to great lengths to protect your sensitive personal data.
The minimum deposit with Option.fm is only $250; that is a low enough amount that just about anyone who wants to trade binary options with the broker can. With that being said, it is no problem whatsoever if an investor wants to open up an account with more than the minimum required deposit. As with most binary options brokers, Option.fm offers its new customers a generous signup bonus and the more a customer deposits the higher that signup bonus will be (more on that next). So it is in the customer’s best interest if they would like a nice signup bonus to deposit as much as they can in their new Option.fm trading account.
We mentioned bonuses briefly already and Option.fm has some good ones, most notably their generous signup bonus. It is always nice for any trader to get a few extra dollars in their trading account for free. These bonuses help to reduce some of the growing pains from learning a new trading platform and they will also allow you to experiment with different trading strategies without risking the original funds you deposited in your account.
As with most binary options brokers, the bonus for new deposit accounts on Option.fm varies according to the amount of your initial deposit. The bonus goes as high as 100% on most account levels and the company will match that amount in most cases up to the $10,000 max bonus level.
One of the things that stood out about Option.fm and their trading bonus is the terms before the bonus money can be withdrawn. Binary options brokers have to protect themselves from investors signing up with them and just withdrawing the bonus money and then leaving the site, so they will require a minimum amount of dollars traded before any withdraw can be made of the deposit bonus. Typically this amount is 30x to 50x the amount of the initial deposit. Option.fm has among the lowest requirements of any online broker as they only require you to trade 20x the amount of your initial deposit before you can withdraw any bonus funds.
Types of accounts
The deposit bonus also determines what level account you will be placed into. Generally speaking, the more you deposit the higher level account you will start out with and the more site benefits you will receive. That is one of the reasons that it is encouraged that you make as big a deposit initially as possible. A lot of extra benefits and a higher deposit bonus are things you definitely want working on your side.
There are account levels that will satisfy any trader on Option.fm as they cater to both novice and hardcore binary options investors. Let’s take a look at the different account levels they have to offer:
- Trial Account
This account is ideal for those investors that just want to check out the website, are new to binary options trading or just like to play around with some trades once in a while. This level account is attained by making the minimum required deposit of $250 and includes those who deposit as much as $999 dollars. Here are its features:
- It has over 90 popular assets a customer can choose from to place trades
- 4 different trading platforms can be used
- You will receive the latest news from the Option.fm daily marketing analysis team
- There are never any service fees or commissions
- Boutique Account
This is the most popular account on Option.fm and its ideal for almost any experience level binary options trader. This level account is attained by making a deposit of $1000 and includes those who deposit as much as $9999 dollars. Here are its features:
- All the benefits of the previous account level
In Addition to:
- Free instructional trading webinars
- Enhanced customer support
- You will be provided access to a professional broker
- 1-on-1 training sessions will be provided to you
- You will receive an informative binary options eBook that will help you learn to trade them
- Risk management tips
- You will receive a weekly performance review from an experienced account analyst
- Executive Account
This level account takes trading up to a whole new level of seriousness. It is most definitely for those who consider themselves professional traders. This level account is attained by making a deposit of $10,000 and includes those who deposit as much as $49,999 dollars. Here are its features:
- All the benefits of the previous account levels
In addition to:
- Trading signals are sent to each executive level investor by email, chat or mobile device on a daily basis
- Executive level members get priority access to online webinars
- Free subscriptions to financial magazines
- Personal calls before ant big market event
- Imperial VIP and Corporate Account
This one is definitely for the big boys and heavy hitters who like and can afford to place a lot of money on their binary options trades. This level account is attained by making a deposit of $50,000 or more.
- All the benefits of the previous account levels
In addition to:
- direct line access to both VIP brokers and analysts
- Account insurance on investments
- Special VIP educational assistance
- It includes concierge and travel services
We like to recommend online brokerage sites that help improve the binary options trading knowledge of their investors and Option.fm did not disappoint in this area at all.
The best thing about their site educational wise would have to be their real nice demo account feature. Demo accounts come in handy because they help new traders on a site familiarize themselves with the trading platform without risking any real money. They also will help those new to trading learn the nuances of binary options trading without losing their hard-earned investment dollars.
Their informative eBook covers everything from basic binary options learning materials to advanced trading strategies. So there is information in there that will appeal to both novice and veteran traders alike.
Webinars are a great instructional tool and Option.fm offers a lot of them to those that invest with them too. The website itself is constantly adding new ways for investors to increase their binary options trading skill level.
No investor likes to trade on a web platform that is hard to navigate around and is not laid out well; that is why Option.fm chose to go with the time-tested and popular SpotOption trading software. Both novice traders and veteran traders will have no problems acclimating themselves to this trading platform. It is a nice bonus for any trader that uses the Option.fm website.
Asset selection is another area where we really felt that Option.fm excels. Most traders like a wide variety of assets to choose from and there are over 90 popular ones with this broker. There is no reason that any investor cannot find a few assets that they are familiar with and can have success trading. Option.fm customers can choose from such assets as matched currency pairs, stocks, commodities and major indices.
The combination of using the SpotOption trading platform and Option.fm’s innovative enhancement of it makes for a very pleasurable trading experience. Trading pages are well laid out and easy to understand; even the trades themselves are simple to execute and only take a few point and click maneuvers with a mouse to execute.
Among the type of options that an account holder on Option.fm can choose are High/Low options, One Touch options, 60second options, Long Term options and Ladder Options. That provides a lot of flexibility and choices to those that trade with this broker. There are also several different expiration times that these option choices can be traded on.
Option.fm even offers a convenient mobile application for those investors that are constantly on the go and don’t always have enough time to trade as they would like. The mobile app gives them more access to do trading on such things as lunchbreaks, pauses in events and while commuting on mass transit to and from work.
Maximum Profit (Payout)
What do all the learning tools, the easy to use trading platform and these many trading choices add up to? The answer to that is a whole lot of chances to consistently make winning binary options trades. When an investor trades successfully on Option.fm they also stand a good chance of profiting nicely; traders on the website experience return on investments as high as 91%. That is a much better return on investment than other types of market trading can consistently boast.
We have already discussed how easy it is to make deposits and open an account with the Option.fm site. They accept a wide variety of payment forms for making those deposits too; you can use such acceptable methods as Visa, MasterCard, bank wire transfer, Skrill Moneybookers, Visa Electron, Paypal, Maestro, CashU, Ukash, WebMoney, Inpay, and Neteller. There is enough variety there to accommodate any traders desired deposit payment form.
Withdrawals are just as easy as making deposits and you can use many of the same methods to make a withdrawal as your deposit was made in. The minimum withdrawal amount is $80 and they are usually processed within one working day. This makes Option.fm’s withdrawal process among the fastest in the industry, keep in mind that different withdrawal methods take different amounts of time to verify and process.
Customer service seems to be one of the only chinks in Option.fm’s armor. It is still considered a work in progress apparently and that is not unexpected considering the newness of the site. When the customer service team did respond to issues they were prompt, thorough and handled the issues addressed very well. So it’s not as much that there is a problem with the customer service team; it is more of the fact they do such things as not make it available to trial account holders and they are just bringing such things as e-mail customer support into the fold.
We think the hype that this site generated was legit. None of us here who looked at the site have any problems recommending Option.fm as a really good choice for trading binary options. We especially liked their demo account, their low minimum investment and their high return on investment. This site really has the right platform and the right combination of tools to help make any binary options investor be successful and profit on their trades consistently. Option.fm is also supported by Binary Option Robot auto trading software.
Customer Service: Live Chat / Email: email@example.com
Languages: English, Spanish, French, German, Dutch
Trading Options: High / Low, One Touch, Option Builder, Meta Charts, Ladder Options
Early close: Yes
Expiry Times: 30 sec, 60 sec, 2min, 5min, 1 hr
Deposits and Withdrawals: Visa, MasterCard, bank wire transfer, Skrill Moneybookers, Visa Electron, Paypal, Maestro, CashU, Ukash, WebMoney, Inpay, and Neteller
Withdrawal Time: 1 – 2 day
Demo account: Yes
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Do you think this service will be coming back, or is it closed for good?
I rather liked it when it was still around.
Still gone, so I think it’s time to move on…
I would recommend IQ Option for a broker. It is the best in the business now. If you are looking for binary option robot – then Option Robot is the best.
You will find full reviews here:
IQ Option —>https://www.7brokers.com/iqoption-review/
Option Robot —>https://www.7brokers.com/robot/
So sad this one has closed, I had very good experience with it