The number of binary options brokers out there has more than tripled in the past few years. Having so many brokers available has made it difficult to find one that you can trust. Many brokers help newbie traders get started, but the vast majority of brokers are unfortunately more concerned about turning a big profit regardless of how that happens.
Which is why it’s unfortunate that many brokers are classified as scams or outright frauds with elaborately designed schemes meant to fool unassuming traders. At 7BO we strongly advise traders especially ones who are just getting started to read reviews and research the background of a broker.
Start by making sure that the traders are strictly regulated and have the required licensing along with a valid phone number, location information, and valid address. Plus, there should be more than one way to reach the broker if you need help.
7BO is on a mission to provide brokers with as much information as needed to traders so that they can choose the best brokers in the industry. We promote and recommend only transparent brokerages and ones of which we have never heard complaints. So, you can always be assured of the broker’s quality when we recommend them.
Like every industry, in modern times there are crooks lurking within legitimate services under the guise of offering something of value to traders. The binary options industry is not immune to these scammers that try to con traders with outlandish promises.
Many newbie traders start out with the assumption that it’s easy to make money trading binary options. So, they are easily lured by fancy bonuses which increase the deposit amounts significantly but may also lock a trader’s funds indefinitely.
GrandOptions is one of the few binary options brokers about which we have not received any complaints. It is why this broker is proudly mentioned in our updated list of the very best binary options brokers out there. To start with GrandOptions is regulated by CySEC, bearing the license number 207/13 and is duly registered by many institutions.
The other worthy feature of the broker is the extra steps they take to safeguard their traders’ funds, the availability of educational tools, dozens of videos and educational webinars which are updated on a regular basis. So, beginners can consistently work on improving their ability to spot worthy trades and maximize their investment.
GrandOptions also boasts of using the latest software platform which is above all very user-friendly. Plus, traders are not required to download anything so they can start trading in just a few minutes.
Is GrandOption a Scam?
Legitimacy is one of the first things that traders consider when they think about choosing a binary options trading broker. Traders want a broker who is reliable and trustworthy. That said at 7BO we only recommend reputable and legitimate brokers. GrandOption is without a doubt one of the binary options brokers out there that can be trusted.
GrandOption describes its primary goal as being able to give traders access to the financial markets in a simplified and hassle-free way. Since the access is quick and easy customers are always going to be more satisfied because of less frustration with the process.
It is clear that GrandOption is not a fraud or a scam like some other brokers out there that prey on newbie traders. It goes without saying that like in any other industry there are both good and legitimate business as well as bad and illegal businesses.
Some businesses want to capitalize on people’s ignorance of certain fundamentals while good companies want to teach people the fundamentals. While there are dishonest brokers out there at 7BO, we only list brokers that we trust and hence traders can trust. So, your money and hard work is never wasted.
Since some brokers are bad, there are obviously going to be nightmare stories of bad customer service, misconduct, misplaced trust and even wire fraud. Some traders may report that brokers locked their money. It is why traders always need to check these and many other elements before choosing to do business with a broker.
One of the standout, unique features about GrandOption is the fact that they offer a diversified service in addition to a standard toolkit of various services like access to a trading platform and three types of mainly loyalty programs for traders. The loyalty programs are categorized as Standard, Superior and VIP.
The Standard account offers traders access to the web platform in addition to regular market updates. The Superior account allows access to a personal manager and the benefit of getting 2% extra returns for each successful trade. Finally, VIP account holders can take advantage of all of the above features as well as have access to a senior account manager.
The GrandOption Binary Trading Platform
The past few years has seen the trading industry, in general, grow exponentially, but the binary options market, in particular, has seen the most growth. The latest Software and better technology is partly why the industry has grown because traders can choose better brokers and thus maximize their investment.
GrandOption ranks amongst the very best and most advanced binary options broker in the industry. The company’s trading platform and the backend software provides a simple and easy to understand the platform. The very straight forward approach makes it the ideal method of entering into professional trades, controlling risks and determining returns. Plus, the very easy user interface keeps even newbie users engaged.
The platform is by design very simple, and anyone can start using it because all the required data is neatly categorized into menus and submenus. Traders don’t need to deal with the hassle of installing software. Techfinancials is a very stable platform even when traders need to open multiple instances of the platform and have multiple streams to track data.
The website is completely modular so traders can switch from one window to the next while setting up each independently. An assortment of high-quality tools makes navigation easy and makes it easy for traders to analyze their trades and its consequences easily.
Finally, a well-designed economic calendar can be used by traders who want to delve deep into the latest asset moves, news and market trends. The company’s blog is regularly updated, so traders have a full view of where the industry is headed. Traders also have the ability to choose between stocks, currencies, indices and commodities while trading using boundary, high/low, One touch, and 60 seconds features.
GrandOption accepts traders from across the world except the United States. Deposits can be made via debit and credit cards. However, the company does not offer a demo account, but the minimum deposit bar has been set at $250.
A growing number of traders are trading binary options almost every day. The rising popularity has led to many brokerages opening up across the world. The Binary Options Brokers’ Association created in 2013, is meant to help binary options brokers integrate with traders.
One of the principal reasons why binary options are becoming so popular is because they are profitable. The reason why they are so profitable is because there is a lot of profit to be made per trade. So, the so-called ”all or nothing” saying derived mainly from the gambling world rings true with the binary options trading industry.
Yes! There is risk involved, but that risk can be reduced and in some cases averted with good trading strategies, practice, and education. So, over time an experienced trader will turn a significant profit-making all the hard work worth it.
As it stands, there are well over 250 binary options brokers. However, considering the number of frauds and scams in the industry, we review the best services. The ones we recommend here are reliable, and so it’s part of our effort to assist traders and readers of this website to find the best brokers without having to worry about losing money testing the waters.
GrandOptions, as mentioned above, stands amongst the best binary options brokers on our list. The broker seems to fully understand that enhancing traders’ abilities to trade is part of their success. Traders who are new to the industry can take advantage of numerous videos, webinars, and e-books. So, the company makes learning more about trading binary options a lot easier.
Traders also receive bonuses when they open an account with a minimum deposit of just $250.
Do We think GrandOption Is Legitimate?
The first thing that traders look at when choosing a broker is legitimacy and reliability. Obviously, nobody wants to trust their money, not to mention time and effort to a company that’s not reliable. Based on this assessment we can safely say that GrandOption in the opinion of 7BO is a legitimate and honest broker. Traders can be assured that their money and hard earned funds are always safe.
Unfortunately, not all brokers are as reliable and trustworthy as GrandOption, and it is for this reason that traders more than often suffer from frustration and disappointment not to mention losing money when choosing other lesser known brokers.
Not all brokers make it to our whitelist, and that’s because greed compromises their ability to provide a good service. A quick search on the internet will in most cases reveal reviews and comments about brokers that have over the years deceived and scammed clients of all types and from across the world.
It is widely known that binary options trading is risky just like any other form of trading. Many times traders will lose money because they are not adequately educated to trade. Other times it’s attributed to a lack of patience or because they trusted the wrong broker. When you see scam alerts and negative reviews it is should be indicative of the broker’s intentions and needs to be considered when making a decision.
The good news is that GrandOption is not a fraud or misleading broker. We have not received any negative comments or complaints. Since GrandOption is properly regulated, the company has an obligation to fulfill its customers’ interests and needs. That’s one of the hallmarks of a broker that you can trust.
Excellent customer support is also an added plus because you can always call, chat with or email someone if you have a question. Customer service is available in: