Options Bank offers a selection of attractive bonuses and rewards to both their newly registered and existing clients in order to retain their loyalty. They have modern and technologically advanced 100% web based trading software and they offer several ways in which their customer support services can be contacted including instant live chat. There are around 100 underlying assets available for trading through this broker.
Options Bank is an online binary options broker that is keen to offer the opportunity to trade to all levels of client from the complete beginner to the experienced professional. Offering three different account types to take into account the needs of all kinds of traders, this broker offers payouts of up to 90% and speedy withdrawals thanks to a same day policy. Their customer support team is always available and their trading platform is web based for extra fast trade executions.
Options Bank is owned and operated by OB Marketing Solutions Ltd which is based in Dominica, although the broker’s main office is located in London, UK. This broker does not appear to be licensed or regulated by any recognised authority or body, however the company does comply with anti money laundering policies and requires clients to submit identification documents before being able to trade or withdraw profits.
Options Bank has around 100 assets available for trading.
Currencies – 18
Indices – 23
Commodities – 11
Stocks – 44
Bonuses & VIP Programs
Options Bank is keen to offer rewards to both existing and newly registered clients, and although there are no specific details on their website, they do state that they offer limited time offers at frequent intervals to their customers. In order to withdraw any profits made as a result of a bonus offer, a trading volume of 40 times for each $1 of bonus is necessary. There are also sometimes one-off Cash Back deals where only a 10 times trading volume is necessary to withdraw profits. There are occasional social media promotions which entitle the client to either $25 or $50 as a free cash rebate and there are also refer a friend bonuses in the sum of $50. Options Bank also offers a VIP account which comes with its own debit card as an added perk. All three account types also come with a range of interesting deals and promotions which may vary over time but which include promotions such as risk free trades, free iPads or iPhones, discounts on trading signals services and a monthly interest rate.
Options Bank offers a convenient 100% internet based trading interface which allows seamless and speedy access as well as fast trade execution without the need for any installations or downloads of memory intensive software. This also means that traders are not tied to their PC and can access their trading account and place trades from any internet enabled device as long as they are connected to the web from any location in the world and at any time. This broker does not appear to have developed a mobile app for either iOS or Android tablets or smartphones.
Deposits and Withdrawals
Options Bank offers a limited range of payment options for making account deposits and withdrawals. These include:
- Bank transfer
- Union Pay
All withdrawal requests are processed very quickly and a same day turnaround service is promised. No fees are charged for credit card withdrawals, however bank transfer withdrawals are charged at $25. Withdrawals are returned to the payment source used and one free withdrawal is permitted per month if the initial deposit is under $5000, and two free withdrawals are allowed per month for deposits over $5000. Accounts that have an initial deposit over $10,000 benefit from 4 free withdrawals within a monthly period. Funds will be received within 6 days of the request being submitted.
The Options Bank client support team are available 24 hours a day to respond to queries and to resolve any issues which may occur. They can be contacted via a number of methods including by:
- Live Chat
- Web form
- Telephone helplines in the UK and the USA
Extra Features and Resources
There are very few extra features offered by Options Bank, and no educational resources are provided for the benefit of this broker’s clients. Free daily market analysis is provided on the website however and account holders can benefit from discounts on trading signals services.
If you are considering choosing Options Bank as your preferred binary options broker, there are a number of positive factors to consider, however there are also some disadvantages too:
- Cutting edge trading software that is suitable for use by both experienced and novice traders
- 100% online trading interface requiring no installations or downloads
- Instant customer support via the live chat facility
- 24 hour client assistance
- Free daily insights
- Welcome and cash back bonuses are available
- Three types of account to choose from
- Returns of up to 90%
- Fast withdrawal procedure
- Refer a friend promotions
- Not regulated or licensed by any recognised authority
- No e-Wallet payment options
- No free educational resources
- No economic calendar
- No social trading
What types of options can be traded through Options Bank?
This broker offers 3 different option products including:
- Call/Put Options
- Turbo Trading (30 seconds)
Can I trade with Options Bank using my mobile device?
Increasing numbers of traders are choosing to execute trades from their mobile devices like smartphones and tablets on a regular basis, so brokers like Options Bank are mobile optimising their platforms to ensure that they offer seamless access to trading accounts and trade executions from any internet enabled device through the provision of a 100% web based platform. As no software needs to be downloaded or installed, it is possible to use the online trading interface on any type of Android or iOS device from anywhere in the world, although there is no mobile trading app available for download for this broker to make trading even simpler.
Does Options Bank offer different account types?
Options Bank has three different types of account to suit the needs of both beginner investors and those with a lot of previous experience. The Micro account offers a maximum position size of $200 and is ideal for novices who want to limit their level of risk while getting to grips with the basics of binary options trading. Micro Account holders still benefit from some promotional deals like discounts on trading signals services and they still receive 4 risk free trades. The Standard Account has a maximum trading position of $1000 as well as four risk free trades and promotional offers such as free iPhones. The top level Pro account has a maximum trading position of $2000 and this account offers a host of benefits including free iPads, risk free trades, a free debit card and a monthly interest rate of 1.8%.
Does it cost anything to register with Options Bank?
It does not cost the client anything to register with Options Bank as their chosen binary options broker and there are no hidden fees or charges to worry about.
What are the benefits of trading with Options Bank?
Options Bank offers its clients several benefits including a number of promotions for both existing and newly registered clients who can benefit from welcome bonuses, cash back promotions, discounts on trading signals services, free devices and gadgets and risk free trades. Options Bank also offers potential returns of up to 90% and an excellent level of customer service, with a team that is available to offer support 24 hours a day and which can be contacted via several convenient methods including the instant live chat option. Options Bank also promises a fast withdrawal service with a 24 hour turnaround on processing, making it easier than ever to withdraw profits.
How do I open an account with Options Bank?
Opening an account with Options Bank is very similar. Simply click on the Open Account tab on the broker’s home page and complete the necessary personal details. Once you have done so, you can supply your identification documents and deposit you initial sum of money so that you can begin trading.