BullOption

10/7/2012 – Important Announcement – BullOption website is Offline.

Editor’s Note- Why does BullOption Suck in 50 Words

BullOption, a minor player in binary options trading, creates doubt among traders due to the unrealistic gains prescribed in trading, which raises many thought and caution among investors. Looking further and more cautiously into BullOption, those suspicions claim a stronger place in the scam alert charts.

Check out our recommended binary options brokers

Why BullOption doesn’t Suck in 50 Words

I tried and tried over and over again but just couldn’t find something out of the ordinary about BullOption. Maybe the high bonus, but then again, the wager (50 times) could leave you with nothing.

BullOption Full Review- Lack of info and bad user-interference

Launched on mid 2010, BullOption is a 100% web based binary options trading platform with three types of binary options available for trading, Regular, Digital, Touch and Range. Being completely web based, no additional software needs to be downloaded. Comparing its pros and cons, BullOption suffers from a common problem experienced in many binary options trading platform; it is a new player an unregulated broker in a Financial Wild West market and hence is not completely trustworthy. Why does BullOption Suck?  It lacks a detailed description of the assets being traded on the platform which makes the information supply half-hearted. Other than that, BullOption crazy bonus factor is a disturbing feature. The bonus needs to be reinvested in order to generate considerable amount of trade before any withdrawal is possible.  For instance if on a deposit of $1000 one makes a bonus of 40% amounting to $400, he cannot withdraw that bonus until he makes 50(!) trades on that bonus amounting to $1000 of trading volume before any withdrawal is possible, which is much more than most other brokers require. On a new account opening, one has to deposit a minimum amount of $50 for trading which is rewarded by a bonus of $500.This bonus is only available for trading. If one makes a deposit of $500 and caps the risk at 2%, so that each trade amounts to $10 in order to generate sufficient trading volume he needs to create a large number of trades before any profit withdrawal is possible. The tweaks and features need to be kept in mind while trading on BullOption or one might end up not making any real gains while trading. This can be very frustrating for a trader who feels that he has gained a lot but has to go through a new ordeal of trading before the money appears in his account.

Is BullOption a Scam?

BullOption fails to impress the users when it comes to the interface which is overcrowded and loaded with numerous tabs and lacks the sense of simplicity in use. To initiate a trade, one has to go through a cumbersome process spread out in five stages. After the investment type and amount is fixed and the trading session begins one is directed to a different page for checking the status of the order, which points towards amateur designing. This feature of redirecting to a different webpage each time one wants to check the status of the order makes it very inconvenient. BullOption’s status page is even more depressing and beyond the understanding of experienced traders, as one gets to know if he has lost or gained in the current session only after the session expires. There is no way of knowing the current status of the trade before the end of the session which adds to the cryptic character of the website. The persistent pop-up to chat with their customer care executive is distracting and unnecessary. The FAQ page of the website is a complete let-down which is not at all informative and hardly original. It is an amateur rephrased version of the FAQ page of a competitor trading platform. Many say BullOption is a scam but at first look the platform doesn’t seem so, rather it has an amateur feel to itself which needs to be modified at multi levels to gain a professional and advanced feature of being a sophisticated options trading platform. The company has to strive to create an effective trading set before it can make a mass appeal.

Check out our recommended binary options brokers

BullOption Complaints

Before depositing money into any Binary Options broker, check out search engines and related forums for any broker complaints, scam, fraud and other keywords to find more info about the broker. Bots.com checked BullOption complaints and found the above- we found one blog dedicated to a possible BullOption scam, concerning the hugh wager we discussed sooner. In another forum we discover a few positive comments, but also a few more negative complaints. Last, we found another forum with many negative complaints regarding BullOption, also, it should be noted that a BullOption representative replied to most complaints.

BullOption Bonus

The bonus is large, the wager is even larger. I’ve heard about one costumer who had a wager of 100*bonus, his bonus was 100$. It’s almost impossible to win in a trading volume of 100*100=10,000$.

BullOption Withdrawal

Please check out our article section for more information about withdrawal issues. About BullOption withdrawal, the withdrawal for C.C. should be exactly and not less than the deposited amount.

BullOption Ratings

Since 2011. Trading Assets- 23 trading Assets. Minimum Deposit -100$. Payment- Credit cards, wire transfer. Options Profitability- 65%-80%. Out of money option refund-9-17%. Platform: OptionFair. Languages- 11 different languages including English, Italian, Spanish, Arabic and French. Demo- Yes.

User Friendly 12/20

BullOption website is simple with convenient navigation. Registered users have a detailed account history wherein information about their past trades, current trades, transactions, bonus records are maintained and easily seen. The downsides are concerned with the Trading process itself which is a bit dragging and inconvenient, the FAQ section lacks information. The site is available in 11 different languages.

No. of Assets and Expiry time 6/20

BullOption has a total of 34 assets- 11 currency (forex), 6 commodities, 7 indices, 10 stocks, and one bond offering for trading. There is a lack of information about the expiry time of the assets. One needs to wait for the session to expire to find out about the expiry time which is highly inconvenient.

Commissions, Support and Effective return 9/20

BullOption don’t charge any fees or commissions from investors when they first deposit or purchase options. Withdrawals are charged with a 30$ after more than 1 transaction a month. BullOption support is available via only 2 international numbers- in English, or via email. The live chat service horrible and un-responsive a few times we have tried. The effective return is among the average in the industry- 65-85% In-The-Money with a 70% average return for most assets. The Out-of-Money refund is fair, between 9-15%.

Deposit, Payment and Bonus 6/20

BullOption Minimum deposit is average – 100$. Deposit is available via C.C., Wire transfer and more. Withdrawals are generally available via the same methods, and charged after more the one transaction a month. BullOption offer up to 30% for each deposit made until a ceiling of $1500.

Website Extra’s – 6/20

The informative charts on the homepage are useful while trading as they help to make a real time trend analysis of the assets. BullOption offers insurance on deposits which implies no boundaries on cash withdrawals on your deposits and insurance is provided if the cash balance hits zero level. Traders are entitled for 20% insurance on a deposit of $300 and above, 40% insurance on deposit of $500 and above and on deposits of $1000 traders receive 50% of insurance. The website has a tutorials and courses on binary options for beginners.

BullOption Rating – Closed – 0

Check out our recommended binary options brokers