All clients who register for an account with TorOption can benefit from a welcome bonus, although the amount on offer varies depending on the account type. This broker also has an innovative and intuitive trading platform that makes trading simple for both novice and experienced investors and their customer support team is available from Monday to Friday to assist with any enquiries. TorOption only has a limited range of options however, as there are only around 60 to choose from.
TorOption was created by financial experts with years of experience in trading and risk management, and offers many excellent features for its clients including educational resources, high levels of security and effective market analytical tools. This broker offers a choice of four account types to suit the requirements of all levels of trader from the complete beginner up to the professional and there is also a VIP option to suit high volume traders.
TorOption is owned and operated by Smart Choice Zone LP and is based in Glasgow, Scotland. Established fairly recently in 2015, this broker does not appear to be licensed or regulated by any recognised authority or body, however it does guarantee complete security of its clients funds through the provision of SSL encryption across their website to protect all financial transactions. This broker also follows strict anti-money laundering policies and clients must comply with rigorous rules and regulations regarding proof of identity before being able to trade and withdraw funds.
TorOption only offers around 60 assets for traders to select from.
Their list of assets includes:
Bonuses & VIP Programs
TorOption gives welcome bonuses to all newly registered clients, with the amount on offer varying depending on the type of account opened.
- Mini – 10%
- Standard – 50%
- Executive – 75%
- VIP – Custom Made
There are also several other promotions available from this broker including weekend bonuses, happy hour specials and guaranteed secured trades.
VIP account holders can also benefit from a number of perks designed to offer an incentive to high volume traders. These include:
- Immediate withdrawals
- Personal account manager
- Weekly trading session
- 5 free daily trading signals
- Weekly session with an analyst
- A payout of up to 10%
Unlike many other binary options brokers, TorOption does not offer its own mobile app to access their trading platform on the move from mobile devices, however it does offer a 100% web based trading interface which requires no software downloads or installations. This means that the platform runs smoothly and quickly allowing for fast trade executions, and it can also be accessed conveniently through any internet enabled device such as an Android tablet or iPhone rather than just a PC.
Deposits and Withdrawals
TorOption offers several payment options for making deposits and withdrawals. These include:
- Bank transfer
The minimum deposit which can be paid into the lowest level Basic account with this broker is $350. There is a fee of $25 payable on all withdrawals and the time taken to process a withdrawal depends on the account type opened, however the longest processing time is 7 days, with a further 7 to 10 days to see funds appear in your account. There is a minimum withdrawal amount of $50.
TorOption offers a number of methods by which their customer support team can be contacted. These include:
- Live Chat
- Telephone helpline
- Web Form
The telephone helpline is open between 7 am and 8 pm GMT on weekdays, however the email and live chat services are available for clients to use 24 hours a day 7 days a week. The website is also available in 4 languages for the benefit of their global customers. These include:
There is also a useful section of TorOption website which raises frequently asked questions and which offers basic responses to commonly posed questions.
Extra Features and Resources
TorOption clients can benefit from several helpful educational resources that are designed to help traders at all levels of experience to maximise their profits. From a basic guide to how to trade to video tutorials and webinars, this broker aims to improve its clients’ knowledge. Clients can also benefit from daily and weekly market reviews as well as an up to date economic calendar and a real time chart to inform their trades.
If you are considering choosing TorOption as your binary options broker, you will be pleased to learn that there are numerous advantages to choosing this broker, although there are some downsides 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
- 24/7 access to customer support via live chat and email
- Choice of customer service contact methods including email, web form, live chat and telephone helpline
- Personal manager for VIP clients
- Multilingual website
- VIP platinum account for high volume traders
- Free educational resources for clients at all levels of experience
- Choice of several account types to suit the needs of all investors
- Strong SSL encryption across the website
- Excellent choice of deposit and withdrawal methods
- Not regulated or licensed by any recognised authority
- No mobile app for trading on the go
Is TorOption a good choice for new traders?
Brand new traders will be pleased to discover that TorOption have several different account types to accommodate investors at all levels of experience. Their mini account only requires a deposit of $350 and is ideal for those who are newly come to the world of investment as it enables you to gain more experience in the binary options market without taking too much risk.
Are my funds safe with TorOption?
TorOption have taken care to protect the security of its clients funds and personal information by protecting their entire website with strong SSL encryption. As this broker also adheres to a rigorous Anti-Money Laundering policy under which clients have to provide proof of their identity before trading or withdrawing profits, clients can rest assured that there funds are safe, even though TorOption is not licensed or regulated by any recognised authority.
Which currencies can I trade with?
Clients have the option to choose the currency in which they open their account at the time of registration. The available currencies include US Dollars, Euros and Pounds Sterling. Once you have made your decision, however, you cannot switch to a different currency at a later time.
Does TorOption offer promotional deals?
TorOption offers a number of interesting promotions and bonuses for its clients. Apart from the generous welcome bonuses which are given to brand new registered clients (which start at 10% and go up to 75%), there are also occasional offers such as happy hour specials, which give higher payouts at certain times on selected assets, extra 10% weekend bonuses for trading on Saturdays and Sundays and a first 10 trades secured offer.
How do I open an account with TorOption?
It is very quick and easy to open a live trading account with TorOption. Simply click on the Open Account link on the homepage and complete all of the necessary personal information. No charge or fee is made for opening a TorOption account. You are then ready to deposit funds into your account and begin trading (please note that you will be required to submit documentation to prove your identity before placing your first trade).
Does TorOption offer demo accounts?
Unfortunately, unlike many other binary options brokers, TorOption does not offer potential clients the possibility of opening a free demonstration account to try out their platform. However, the process of opening a live trading account is quick and easy to accomplish.
Does TorOption offer mobile trading?
As the TorOption trading interface is entirely web based it can be accessed easily from any internet enabled device including Android smartphones and tablets and iPhones. However, unlike many other brokers, TorOption has not developed their own mobile app to facilitate convenient trading on the move.