Why Choose OptionRally?
- 24/7 Support
- Advanced Platform & Features
- Extensive Educational Resources
OptionRally is a well-established binary options broker, launched in 2011 by OptionRally Financial Services Ltd. OptionRally Financial Services Ltd are a privately held company that operates OptionRally as a regulated broker. They are in fact, regulated and governed by the rules of the Cyprus Securities and Exchange Commission (CySEC), under the authorisation number CIF 220/13. The registered offices for OptionRally are at 280, Anastasi Sioukri and Makarios Avenue, Lordos Central Court 1, 6th Floor, Office no.16, CY-3105 Limassol, Cyprus.
The CySEC license held by OptionRally means they comply with the rules set out by the EU-wide, Markets in Financial Instruments Directive (MiFID). This directive allows them to accept trader from throughout Europe. In fact, OptionRally accepts traders from everywhere in the world excluding Israel and the USA.
We found that OptionRally supports all up-to-date security and privacy standards – a crucial element when safeguarding trader/client funds. They also provide support in a wide range of languages and have a fantastic bespoke version of the SpotOption trading platform. The standout advantages offered by OptionRally are the educational services and intuitive trading platform with standout features such as their ‘Portfolio/Instrument Analysis’ and ‘Market Research’ features.
Trading Platform and Features
OptionRally’s trading platform is a simple, user-friendly and easy interface that any new trader will easily be able to navigate and use. Experienced traders need not be put off, as being ‘user-friendly’ doesn’t mean the platform is lacking in any way. The platform is intuitive, dynamic and will assist experienced traders with advanced analysis and trading instruments.
The platform is provided by SpotOption and is available as a 100% web-based trading platform. It is accessible on all desktops and laptops, and any browser or operating system. OptionRally was a pioneer in mobile trading applications, and continues to provide a quality interfaces for traders. They offer iOS and Android mobile platforms and the asset index on both web and mobile platforms are the same.
OptionRally should appeal to traders of all levels. The novice trader can utilize the straightforward trading platform and a range of education and support services. The mid-level traders can expand their knowledge through targeted webinars and Ladder and Forex features. Advanced traders can reach their true potential through guidance from personal account managers, and support/education on advanced analysis methods.
The assets offered include Indices, Stocks, Commodities and Currencies. OptionRally has a great selection of trading instruments including Call/Put (High/Low), Option Pairs, One Touch, Long Term and Short Term. They also offer two features launched in September 2014; Ladder Options Trading and Forex Trading.
Trading Account and Payouts
OptionRally offers payouts of up to 88% on standard options. Traders using the riskier One Touch instrument have the opportunity to earn with high yield options that can pay up to 400%. Although OptionRally are devoted to trader training and education, they do not offer a demo account. Instead, they’ve focused on creating a number of trading accounts that will suit traders of varying levels. They even offer Islamic accounts, a rarity in the world of Binary Options.
- The Mini Trading Account – Deposits of $250 to $999 will get you access to the Mini-Trading Account, an excellent low risk option for inexperienced traders. You will be entitled to a Welcome Bonus of 15% on your initial deposit, and you will receive daily and weekly market reviews.
- The Standard Trading Account – Deposits of $1,000 to $4,999 will provide you with access to the Standard Trading Account. This account provides a Welcome Bonus of 25% on your initial deposit. You are also provided with daily and weekly market reviews and the OptionRally eBook, but the standout features of this account are access to a professional market analyst and three daily trading tips.
- Executive Trading Account – Deposits of $5,000 to $9,999 will get you access to the Executive Trading Account. This account provides a Welcome Bonus of 25% on your initial deposit. This includes all of the perks of the Standard Trading Account above, with the addition of two one-on-one sessions with a financial and trading expert. This account is perfect for the trader who is profitable but wishes to reach the next level in their trading career.
- VIP Club Account (Incorporating the Islamic Trading Account) – Deposits of $10,000 or more will get you access to the VIP Club Account. This account provides a Welcome Bonus of 25% on your initial deposit and includes all of the perks and features of the accounts above. In addition, the VIP Club Account provides a number of exclusive options such as a personal trading concierge, access to private business clubs and exclusive information. You will also be provided with a high level of personal account management. In addition to these, you will be given a free iPad/iPhone4/Samsung Galaxy S II/Galaxy Tab when a trading volume of $15,000 is reached.
The bonuses are divided into two types; The Standard Bonus and The Leverage Bonus.
The Standard Bonus can be withdrawn when a client reaches his trading volume of 50x equivalent value of the bonus given.
The Leverage Bonus is non-withdrawal, but the profits gained with this can be withdrawn. No volume trading is needed.
OptionRally offers customers a variety of bonuses as shown above. Our advice is that you talk to their support team when making a deposit, and negotiate yourself a custom bonus of up to 150%. Please ensure you read the Terms and Conditions and discuss each particular bonus with your personal account manager before trading.
OptionRally accept deposits in the following currencies; EUR, USD , GBP , AUD , ZAR , JPY and CNY. Trading accounts are offered in the EUR and USD. To open and activate an account a minimum deposit of $250 USD is required. Any subsequent re-deposits also require a minimum deposit of $250 USD. There is no maximum deposit.
The following deposit methods are available:
- Bank Transfer (Domestic and/or International)
- Credit Card including Visa, American Express and MasterCard
- Net banking Webmoney, Neteller, Inpay and Skrill
- CashU cash cards
- Wire transfer
All the above methods of transaction will be processed immediately and your deposits will appear almost instantaneously in your OptionRally account. There are no charges for deposits.
OptionRally does not charge any service fees for withdrawals, however, wire transfers will incur a $25 service fee by the bank. The OptionRally withdrawal process is simple. Simply log into your trading account. Then click on ‘My Account’ and select ‘Withdrawal Request’. Two options are provided; Wire Transfer or Credit Card. Choose your desired withdrawal method, enter the amount and click on the ‘Withdrawal’ button.
There is a minimum withdrawal of $100 or €100 and all withdrawal requests are processed by OptionRally’s account managers. Once processed, customers will receive an email confirming the request.
A client can withdraw all funds at any time. Funds will be credited to the card or account from which they were deposited. OptionRally processes bank wire transfer within 48 hours. If withdrawals are made via credit card then it may take up to 10 business days for the authorizing bank to send the funds.
OptionRally offers a number of communication methods to reach their support teams including email, telephone and LiveChat. Support is offered in 9 languages and they seem to have numerous worldwide offices to connect with. They specialize in offering support with education and high degree of account management.
The OptionRally Educational Support and services were a standout feature for us. The educational tools included eBooks, Webinars, Video Courses, mentoring and a wide selection of articles. OptionRally seem to understand that well-educated traders profit more and are loyal to the brands that educated them. It’s a great customer retention strategy, and as an advocate for trader education, one that we wholly support.
Personal Account Management
OptionRally provide personal account managers for all accounts. The levels of assistance are tailored to each individual client and vary by account type. At the basic level an account manager can assist with trading. More experienced traders may want to be guided through the platform’s more dynamic features and instruments. Good account managers can expand your existing skill and help refine your trading strategies. Personal Account Managers are highly experienced and their role is to ensure customers are provided with assistance and education. We encourage you to take advantage of your personal account manager in order to increase your trading knowledge.
Why Trade at OptionRally?
OptionRally are a fully regulated broker that puts a genuine emphasis on the safeguarding of trader funds and data. Their CySEC regulation requires the segregation of trader and broker funds into separate bank accounts. They also follow a series of additional encryption protocols to ensure that client information is completely safeguarded. It’s reassuring to see a trader take the necessary steps to safeguard their clients in this way.
We marked OptionRally down on the response times of their support team on a weekend. When a broker quotes 24/7 support, we test this by contacting them at obscure times such as a Sunday evening. The response times were poor. The telephone support team took multiple attempts to get through to, and LiveChat seemed to be down. The Support may have been poor on a weekend, but the team did redeem themselves on weekday support enquiries. They were readily available and offered a prompt and efficient service.
We commend the varied account types on offer as they are tailored for traders of varying levels and requirements. The platform is also worth a mention as a particularly strong selling point of this broker. They offer an intuitive user interface, yet incorporate advanced trading instruments. Their particular strength remains their focus on education and analysis – two key components to successful trading.
It was our pleasure to offer OptionRally the “TradersAsset Approved Broker” status and recommend them highly to all traders.