Independent rating of Forex broker OptionWeb

About company

OptionWeb is a large binary options broker owned by Lionsman Capital Ltd. It is regulated by the Cyprus Securities and Exchange Commission (CySEC). In addition, the broker is licensed by all EU regulatory authorities, including the UK FCA. Although the license does not guarantee the reliability of the broker, the supervision of CySEC and FCA significantly reduces the risk of fraudulent activities. The customers' funds are held in segregated bank accounts.

Trading conditions

• 190 trading instruments (currency pairs, stock indexes, commodities, and securities)
• 6 account types
• demo account
• opportunity to open an interest-bearing account
• SSL encryption for all trading operations performed on the broker's website
• built-in trading tools (economic calendar, graphical expert advisor, and trading signals)
• payment processing time – 1-5 days
• free daily webinars and video materials for beginners
• trading coach (personal manager)
• contests among brokers
• bonuses
• commission on money withdrawal

Trading platform

For binary options trading, the broker provides traders with its own OptionWeb platform, which include the following features:

• contracts: long-term, 60 seconds, and one touch
• asset portfolio (about 62 stocks, 9 commodities, and 27 indices, 30 currency pairs)
• graphical tools for technical analysis
• user-friendly interface
• transactions without intermediaries that enable traders to work online

It is a light weight software that is easy to download on any PC. OptionWeb recommends downloading the trading platform via the Chrome and Firefox browsers. For the convenience of traders, the broker has also developed a mobile app that allows clients to trade at any time from anywhere in the world.

Support service

OptionWeb support service is available to customers 24/5. The broker's website displays phone numbers of offices in Italy, Great Britain, France, and Cyprus. Traders can also contact OptionWeb via email or live chat. What is more, investors can use the personal account manager service.

Traders’ reviews

On various Internet forums, you can find both positive and negative reviews about OptionWeb. Traders praise the company for its professional support service, a large array of trading accounts and instruments. However, they complain about problems with money withdrawal, bugs in the operation of the website and trading platform. Many clients claim that the broker deliberately does not allow them to make a profit by setting unfavorable trading conditions.

Advantages:

• regulated broker
• wide range of trading instruments
• great choice of trading accounts
• demo account
• free webinars for beginners
• bonuses
• contests for traders
• efficient work of support service

Disadvantages:

• bugs in website and trading platforms
• high spreads
• problems with money withdrawal
• commission on fund withdrawal
• high minimum deposit
• lack of information about trading conditions (leverage, minimum transaction size, etc.) on the official website