Should you ignore the bad reviews?
I’m going to give you my honest opinion in a moment.
But first, who is GOptions?
GOptions is a US-friendly broker on the Spot Option platform. (This is one of the best platforms according to savvier traders than myself.) They’ve been in business since 2009.
And from what I hear GOptions isn’t regulated …yet …but they’re working on it.
That’s who they are in a nutshell. The review below will tell you more.
- Bank Wire
Creating Your Account & Making a Deposit
Let’s check out the account details first.
(If you want to follow along, first you’ll need to sign up to GOptions.)
First off – they do offer a free demo account, but you’ll need to deposit the $200 min first.
If you’re past that stage you can choose from one of the following accounts instead (account / deposit / bonus / other perks):
- Micro / $200-$499 / 25% match / 10% match bonus on future deposits.
- Mini / $500-$999 / 35% match / Get a 20% bonus on future deposits, weekly call sessions and 4 x $25 risk free trades.
- Standard / $1,000-$4,999 / 50% match / Get a 35% match on future bonuses, 4 x $50 risk free trades and weekly calls.
- Gold / $5,000-$9,999 / 75% match bonus / Get a 50% match on future bonuses, a personal account manager, weekly strategy training, trade alerts, 10% trade insurance, free auto trading signals for one month and 4 x $250 risk free trades.
- VIP Platinum / $10k-$25k / 100% match bonus / Get a 100% match on future bonuses, a personal account manager, 10% insurance, weekly reviews, trade alerts, three months free on auto trading signals and 4 x $500 risk free trades.
And more. They have one of the most robust account tiers I’ve seen.
And don’t worry – they don’t give you the bonus unless you ask for it.
Making a Deposit
You can make a deposit using a credit card, Skrill, Neteller or wire transfers. The minimum deposit is $200.
The minimum withdrawal is $100. Cash outs are free for credit/debit cards, but wire transfers will cost you $25. The exception is if you’re a Gold (or higher) account holder.
The best part about banking here is they guarantee same-day cash outs.
Assets and Trading Features
Not sure how to trade?
There are several ways for you to learn how:
- Their blog and daily analysis.
- Trade ideas and strategies.
- Interactive course.
- Academy videos
- Academy articles
If you’re still not sure what you’re doing you can contact them using the form on their site. They also have several country-specific phone numbers, a snail mail address and an email – firstname.lastname@example.org.
Once you’re ready to trade you’ll have tons of options. And depending on the asset and feature you’ll see an average payout of 65 to 90 percent – and as much as 1,250 percent on ladder options.
Experienced traders can enjoy the following options:
- Cancel trade
- Automatic trading (with SignalIndex)
- Early closure
- Traders choice (see what other traders are doing)
- Double ups
- Buy me outs
- 60 second trades
- Pairs trading
- Options builder – Create any option you want.
The min you can trade $5. The max is $5k.
Everything is 100% web based, too – there’s nothing to download. You can also trade on your phone or tablet using their iOS and Android apps.
Too much info to read? That’s okay, here is a rundown of the things we like and dislike most about GOptions:
- Lots of features for more experienced traders.
- Several account options, and the smaller account is set at the min deposit. This isn’t the case at many other brokers.
- There are lots of incentives/perks to upgrading accounts.
- It looks like they’re trying to get licensed/regulated.
- They have a low min trade ($5)/
- There is a TON of negative feedback and reviews. Worse yet, it’s hard to know who’s telling the truth.
Should You Sign Up to GOptions?
Pros & Cons
To tell you the truth, it’s hard to say.
They just have had so much negative feedback in the past. A lot of it is without proof, though, so it is hard to know who to believe.
(This is the last bit before I give you my final answer. I swear!)
It looks like the BOTS guys don’t recommend them. But I find it odd they still link out to them (for a commission).
According to BOTS (source):
It is not hard to find complaints about GOptions on the internet, although one of them stands out: a customer claims (he posts pictures as proof) he was promised 5K to deposit 25K with GOptions and no volume or time restrictions regarding withdrawals but then an argument started when he needed a withdrawal (several of his withdrawal requests were canceled). GOptions representatives claim on the BOTS forum that he edited the pictures to serve his cause and that he is the actual scammer.
The thread has a picture of a reply from support saying the poster is trying to defraud them and that they closed his account.
But I haven’t found any real proof to show GOptions has done anything wrong.
So, let’s get down to brass tacks.
Do you join? Do you skip them and join somewhere else?
It’s hard to know who to believe, the customer or the broker. But you and I both know most customers are whiners that over exaggerate their problems. Knowing that, and seeing at how their customer support is in the forums answering questions and defending themselves…
I’d give them a shot.
I think you should too.