- Bonus: 100%
- Profits: 91%
Based in Anguilla, is a binary options broker which first began operations in early 2013. Through their online trading platform, they offer retail traders the opportunity to trade in the financial markets with innovative binary trading contracts such as 60 second options, one touch options and classic High/Low options. Although they don’t seem to offer anything new that differentiates them from every other leading binary brokers out there, they are known to be quite transparent with the way they operate. In other words, they don’t seem shady.
Trading types and assets
Like most binary brokers that we can find online, Redwood Options uses the SpotOption white label platform which is widely known for its reliability and ease of use.
Despite its simple outlook, the trading platform actually possesses a high level of functionality. Traders will find that all the information that they required for their trades are within easy reach.
The SpotOption powered trading platform has always been popular among binary traders for its unique features such as:
With this feature, a trader with a trade that is close to expiry but looks promising, he can opt to double his investment with this feature. By pressing on the “Double Up” button, they will get another trade with the same conditions as their current trade.
The rollover feature is a great to employ if a current trade need extra time to close in the money. With a 30% premium, trader can extend the expiry time of their trade to the next expiry cycle.
Buy Me Out
Another tool under the Open Platform mode which traders can find useful is the “Buy Me Out” tool. With this tool, trader can close their trades before the expiry period hence locking in their profits or minimized their losses.
Another reason why the SpotOption powered platform is well received by binary traders is the fact that the platform is flexible enough several different types of trading contracts. In the case of Redwood Options, the platform is configured to accommodate 4 different types of trading contract:
• 60 Second Options
As their name suggested, these options expire in 6 seconds time.
• Classic Up/Down Binaries
The Up/Down binaries is by far the most popular and simplest form of binary options to trade with.
• One Touch Options
This type of options is geared towards traders wanting higher yields and longer expiry times. Average returns are around 400%.
• Option Builder
With Option Builder, traders can exert a certain degree of control over their trades. They can determine the risk level and expiry time which they are willing to undertake.
Recognizing that there are traders with different level of trading experiences, Redwood Options have their trading accounts into 3 different types:
• Mini Account
The easiest to open with a minimum initial deposit requirement of €200 or $200. At the same time, traders are entitled to a 30%welcome bonus.
• Executive Account
It takes at least €1000 or $1000 to open an executive account. In addition, traders get a 70% welcome bonus, a personal account manager to oversee their accounts and a risk free trade.
• Gold Account
For a gold trading account, the minimum initial deposit is €5000 or $5000. Other perks of a gold account include the following:
• 100% Welcome Bonus
• 5 Risk Free Trades
• A Senior Account Manager
• Same Day Withdrawals
The payouts at Redwood Options vary depending on the types of trading contracts. On average, the returns range from 70% to 75%. However, it is mentioned on Redwood Options’ website that traders can earn up to as high as 81% on the investments in certain trades. One Touch trades earn even higher yields with returns touching 400%.
Traders will be pleased to know that Redwood Options also offer a rebate of 10% for trades that expired out of the money.
Although they don’t have the largest asset list around, the choices of underlying assets available at Redwood Options is quite extensive. The following list below shows the full range assets available:
Help is always available at Redwood Options 24/5 customer service. Traders have the option to get in touch with the support team by means of Live Chat, Email or telephone.
Reliability and Trust
For their internet security, Redwood Options rely on Secure Sockets Layer (SSL) encryption technology to safeguard their internet traffic. With regards to funds transfer, Redwood Options provide the following internationally recognized forms of transferring funds:
- Bank Wire Transfer
- Credit /Debit Cards
- eWallet Pros
- Quality Educational materials
- Committed Support Team
- Dependable Trading Platform
- Free Analysis
- High Returns
- Low Minimum Initial Deposit Cons
- High Service Fees for Wire Transfer
- Minimum Amount for Wire Transfer Is Also Quite High At $500
A new competitive binary platform
Despite the fact that Redwood Options had only been in business for only a year, its growth has been on a positive track with more traders joining them every day. This tells us that they must be doing something right in order to be able to attract new clients and retain their custom. Mostly likely, this is due to the proactive nature of their customer service that is driving the growth of their business since there isn’t much else to differentiate them from other brokers in terms of products and trading platform.
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