Based in Georgia, CloseOption is an international brokerage firm that provides traders with its proprietary trading platform that is available in the web version for trading multiple financial instruments, such as forex, binary options, and cryptocurrency. Traders are provided with various educational resources, while a client support team is on hand to assist them. Payments are made via various payment methods. The minimum deposit required to operate a live trading account is just $5, and a commission fee starting 8.4% is charged on trades.
CloseOption Review Introduction
In this CloseOption review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including CloseOption.
CloseOption Platforms & Tools
The broker gives clients the opportunity to trade various financial assets using the CloseOption trading platform. It is an in-house-developed trading platform that is built with a lot of helpful trading tools and advanced functionalities, including the TradeRoom, charts, trade history, and more. The CloseOption trading platform is available as a WebTrader that runs directly on most modern web browsers without the need to download and install a trading application.
There is no standalone trading tool on the broker’s website at the moment. Traders are expected to make do with those built into the broker’s proprietary trading platform.
CloseOption Research & Education
The broker’s website contains a good selection of learning materials to improve traders’ skills and their overall knowledge of how the financial markets work. They include trading bogs, newsletters, trading tutorials, and more.
CloseOption Trading Accounts
The broker offers a live trading account with a required minimum deposit of $5. Multiple accounts are not allowed for a single user. There is also the demo account, which is beneficial for beginner traders who would want to try out the broker’s platforms and practice their trading strategies with virtual funds before opening a live trading account.
CloseOption Account Funding
Traders can deposit and withdraw funds, to and from their trading accounts, using any of the following payment methods: bank transfers, credit/debit cards, and electronic payment processors.
The transaction processing time may vary depending on the payment method in use.
CloseOption Customer Service
Traders are provided with a knowledgeable client support team to respond to all their trading inquiries. The support team can be reached via the following contact channels: telephone, email, Live Chat, online form, and social media.
CloseOption’s Forex and Options trading activities are permitted by a license that is issued by the National Bank of Georgia, with the license number: B-2-08/3647. However, there is no regulatory information on the broker’s website at the moment. Lack of regulation can discourage some traders and investors that are looking to open a trading account with the broker.
CloseOption Review Summary
CloseOption is an online trading broker that offers access to trade binary options and over 30 currency pairs online. They provide traders with a proprietary trading platform that is available in the web version and a selection of educational resources to aid the trading process. There is also a responsive client support team on hand to assist traders. The minimum deposit required to operate a live trading account is $5, and a commission fee starting from 8.4% is charged on trades. However, there is no regulatory information on the broker’s website at the moment.
It is worth mentioning that some of the trading products and services in this CloseOption review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the CloseOption broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.