AnyOption is a binary options trade platform that has been in business since 2008 and are actually considered long-timers in the online trading venue. They offer service with value if you are wanting to trade options without having to pay a fortune per trade. Though they don’t offer banking services, they do offer quite a few methods to get money into your trading account and clear out the profits when needed.
Trades and Products
The choices in options assets with AnyOption is fairly comprehensive for someone that is wanting to get into routine options trading. There are 60 stocks, 31 indices, 9 currency pairs and 4 commodities to choose from. It seems to be a fair mix that can meet the interest of a wide range of traders.
The actual trade types available are One Touch, Binary Options and Options+. Interest seems to gravitate more to the Options+ trade feature since you can trade an option back to AnyOption whether it is in or out of the money. There are some short expiration time options available on AnyOption, but there isn’t a true 60 Second trade option. That is a problem with some traders that want to experience more immediate live trading results.
Fees and Rewards
Initiating trades requires opening an account and depositing the required funds. There are a variety of ways to get money deposited, such as MoneyBookers or credit cards. You can open an account free, but you will have to add a minimum of $100 before you begin trading.
If you want to withdrawal money from your account, there is no minimum amount, but only the first transaction per month is free of fees. The withdrawal fee amounts are $30, 25 EU, and 20 GBP at the time of this writing. The withdrawal takes a few days to both process and send to your account and can be canceled as long as the processing hasn’t started. Some feel that the fee is high, but a zero minimum is a plus.
Trading Platform
Many new users to AnyOption are disappointed at the lack of an actual training center to learn how to operate well within the platform. What they do offer is a trading guide and the ability to ask questions when you need to. The answers aren’t always expedient, however. All financial information and news is streamed from Thomson Reuters and there is a trading demo to watch. Many users would like to see a full demo account available.
The trade platform is available in 9 languages and is tabbed. It shows type, asset, what is currently being traded, upcoming trades and built-in graphs. Analysis is possible by knowing the expiry time, percentage of return and all other specifics that are included on the page. The problem is that at times the sheer volume of information in one space is quite distracting. It’s all available on mobile apps for iPhone and Android.
Customer Service
AnyOption customer service is offered to over 17 different countries by phone, email and chat. There is bi-lingual assistance to help as many customers as possible. If the line is busy, you can request a call back to your number so that you don’t have to stay on the line waiting. There is assistance available 24 hours a day which is quite nice.
Final Thought
AnyOption is a solid platform to try your hand at trading options when you don’t want to be hit with individual fees per trade. It makes it a fun way to either take up trading as a serious hobby, or change careers. It’s perfect if you don’t mind the learning curve and have time to do your own analysis and homework.
