Redwood Options Review

Redwood Options launched early in 2013, and already has a dedicated following in the binary options industry. They are an offshore broker, owned and operated by Bluesky MSY Ltd. They have offices registered in London and Gibraltar but operate from offices in Tel Aviv, Israel.

They operate as an offshore broker, however as a Spotoption licensee, Redwood Options can piggyback on their software provider’s CySEC license and are able to accept traders from all territories, excluding the USA. As with all our offshore brokers, we heavily scrutinised Redwood Options’ platform, bonus and related terms, support services, educational resources, and their banking options. There were no issues to report of on all fronts. The broker operated with integrity with any challenges we threw at them. The support teams were well trained and helpful. They dealt with any issues we had within minutes. We will go into more detail on these below.

It’s clear to see that part of the reason for the rapid success of Redwood has been its tenacity and refusal to acknowledge itself as a “Small” or a “New” broker from the moment of launch. The team that manage and run Redwood Options seems to have decided that they are going to be devoid of gimmicks and instead, they are going to focus on being a good honest broker. One that focuses on trader education and offers one of the largest asset indexes online. These are combined with a great platform and no restrictions to any traders, including US traders. This seems to be a winning strategy for them and as they grow, so do their services as a broker.

Trading Platforms and Features

Redwood Options offer both online, and mobile versions of their trading platform. Their desktop version is built on the popular SpotOption software. This is a web-platform with no download/installation required. Traders only need to point their browser at the broker site, register and trade, all in a few easy steps. The mobile platform is only available as a free app for android devices and incorporated much of the web platform functionality. Those using IOS mobile devices can access the platform via their browsers, but this is not optimised as well as the web platform and android app. We feel that Redwood is missing a trick here, but have no doubt this will be addressed in due course.

The Redwood Options platform offers Commodities, Currencies, Indices and Stocks as you’d expect. The SpotOption speciality of asset “Pairs” is also available. This is where popular commodities or stocks are paired up to provide an asset pair similar to currency pairs. It’s not a revolutionary, but in a trading discipline where it doesn’t really matter what the underlying security is as long as its value fluctuates, this is a nice feature.

The trading options offered include the High/Low, One touch and Short Term Options as you’d expect, but Redwood Options also offers an Option Builder and an Open Platform feature. The Option Builder is a feature whereby traders may create and customise each element of their option. For example, a trader may select this feature. Then they can select an asset, expiry time, risk/profit ratio and of course the investment amount. This differs from most platforms where you may only trade set criteria with most options. The Open Platform is another interesting feature, and is exclusive to Redwood Options. This offers in-depth charts for each asset that Redwood Options offers. This is recommended for traders that conduct an in depth technical analysis. In conclusion, the platform is simple to use and intuitive. The asset index is extensive, and the advanced features of the platform will appeal to more experienced traders, whereas all other features will appeal to traders of all levels.

Trading Accounts and Payouts

The appeal of many Binary Options brokers will be determined by the potential return on investment/payout percentages. Redwood Options give you the option to earn up to 81% on most options, and up to 550% on some high yield One Touch options.

A demo account is available upon request. The minimum deposit at Redwood Options is $200 or €200, as they offer trading accounts in both $USD and €EUR. There are three account types available at Redwood Options;

• The Mini Account – This requires a minimum deposit of 250 to 999 (USD/EUR/GBP) and includes a 30% bonus.
• The Executive Account – This requires a minimum investment of 1,000 to 4,999 (USD/EUR/GBP) and includes a 70% bonus. In addition, you will also be provided with a dedicated account manager, a video platform walkthrough, speedy withdrawals, money management training and a personal strategy/portfolio structure tutorial.
• Gold Package – This requires a minimum investment of 5,000 to 10,000 (USD/EUR/GBP) and includes a 100% bonus. You will also receive up-to-date market reviews and financial news, a senior account manager, same-day withdrawals, a video platform walkthrough, 3 personal trading strategies, money management training and advanced portfolio structure tutorials.

Please note that bonuses will have an avg of 30 times trading volume before they may be withdrawn.

Banking Options

Redwood Options offers a safe and highly secured broker service and take their banking and security facilities very seriously. You will have to verify your account when registering and making your first deposit. This may seem uninteresting at first, but is handy when you consider that you will have no delays when it comes to making withdrawals.

Deposit – Redwood Binary accepts deposits in USD, GBP, EUR but only offer trading accounts in USD and EUR. Traders may use Credit/Debit Cards, including Visa, Visa Electron, Mastercard, American Express, Delta, Diners Club, Maestro UK (Switch) and Solo. Traders making deposits via Wire Transfer will be required to send the minimum amount of $500 to qualify for free transfers. Any transfer below this amount will be charged a $25 fee. Please note that a Wire Transfer may take up to 5 business days to appear in your trading account. We advice you use this to deposit larger amounts to avoid delays when trading. No eWallets are available for deposits at this time.

Withdrawals – The dedicated Redwood withdrawals team will handle all withdrawal requests. Your account MUST be verified to make withdrawals. There is no fee to withdraw via credit card, but all bank transfer withdrawals will incur a $30 processing fee. The Redwood withdrawal team will process your request within 3 days but your account will normally be credited within 5-7 business days from the time of making the request. Funds deposited by a credit/debit card may only be withdrawn to the same card and must match the amount deposited. All additional funds must be withdrawn by bank transfer.

Support

All Binary Options traders must have easy access to help or advice. Redwood Options recognise this and have a very highly trained team of customer care representatives who are always on duty (24/7).

Support is offered in multiple languages, including English, German, Russian, Spanish, Italian and French. You may contact the support teams through an online form on the Redwood Options website or their technical and customer support email addresses. Alternatively, traders that require an immediate response may contact the support team via Livechat or their toll free phone lines.

Novice and expert traders alike will benefit from the extensive educational resources offered at Redwood Options. The free resources include a video academy, and video training courses. You may also download and read through their detailed 54-page eBook. The real trader assets at Redwood however, are their dedicated account manager and financial planner service. This is normally dependent on your deposit amount and includes one-to-one training on elements such as portfolio management, money management and trading strategies. If you are looking for a broker to help you become a stronger trader, and one that offers a multitude of attractive features, it’s tough to ignore Redwood Options.

Why Trade at Redwood Options?

Reputation is a very important in the Binary Options trading environment. The company, although only operational since spring 2013, has proven itself to be a true contender for traders of all experience levels. It’s clear that the management team at Redwood Options have been around for quite a while as they offer one of the best trading experiences online.

When testing an unregulated broker, we use an extensive list of criteria to determine if they operate honourably and ethically. We ensure that they offer a truly reliable trading experience before we recommend them to you. Redwood Options were highly scrutinised and we noted that they do not take their operations lightly. They are meticulous when it comes to their customer journey, education, banking and support and have met or exceeded all our criteria for these.

There are only two areas that we truly consider are worthy of mention as a concern; the broker is unregulated, and they have no ewallets available for deposits/withdrawals. The matter of no regulation is easily dealt with as Redwood Options are backed by a known and trusted group, therefore, we do not believe they pose a risk to traders. The matter of the ewallet can be annoying for those dependent on these, but is insignificant in the grand scheme of things as Redwood Options offer extensive Credit/Debit card and Wire Transfer services. Having put their trading platform to the test, and also having deposited and withdrawn funds to and from their trading platform, we are happy to report a very impressive trading experience. Deposits were also processed instantly and our withdrawals were received in line with the stated payout times. We were pleased with our experience here and recommend you give Redwood Options a try for yourselves.