True, they haven’t been around for as long as some other brokerages, but their late start has not hindered them in snatching a whole bunch of clients away from less caring firms. Why is that? Because WMoption have established themselves as a true brand and have a reputation for caring about the interests of their clients. That and their perfectionism have ensured that there is no shortage of binary options traders on their platform. And their high return rates don’t hurt, either.
Yes, there is. It ranges from 30% at the low end to a whopping 100% or even more in some cases, depending on the type of account. You’ll just have to contact your account manager and sort things out. However, there is a downside to this generous bonus policy. If you thought bonus was the same as free money, you will be surprised. It turns out that your total trade volume has to be 30 times greater than the bonus amount before you are eligible for withdrawals of any kind. If there were a part that sucks, this would be it – but the entire industry follows these rules, so WMoption does not stand out.
WMoption features a standard withdrawal policy. It takes roughly 8 business days from the moment you request a withdrawal to the money actually getting to your account. The process itself takes three days and the rest is just the time it takes for a payment to your account to be registered. You can withdraw money to your credit card, have it wired directly to you or use your favorite e-wallet. At least there are no bottom limits on withdrawals.
The language selection as well as assets in general are specialized and customized for maximum returns, rather than sheer choice. Rather than spread as much as possible, this broker chose to focus on English, German, French and Arabic speakers, as well as provide them with one of the best platforms in the entire industry.
The total number of assets varies, but at any given moment there are roughly 10+ currency pairs, 20+ stocks and indices, and several commodities. The selection may seem a bit slim, until you realize they have been spread out across several types of binary options and offer a huge return compared to most brokers. This includes Touch/No Touch and Ladder options.
Wire transfers tend to be the most expensive ones, with a $25 fee, and if you compare it to the return rates of up to 85% and possibly more, it seems we have a winner, at least when it comes to return rates. Still not convinced? Then check out their 10% return policy on OTM trades.
The minimum deposit for this brokerage is $250 and it can be made the same way as withdrawals. Keep in mind that withdrawals may take up to 8 business days to materialize and that bonus scheme might come back to haunt you. It will determine how much trade volume you need before you qualify for withdrawals. Add to it the advanced charting options and a wide variety of expiry dates and types of binary options and we have a winner.
So, does WM option suck? I think not. It has its own quirks and peculiarities, but overall it is as good as binary options brokers get these days. In fact, it stands slightly above average with its superior returns and generous bonuses. Let’s hope they manage to keep up.