MinuteOptions

Notice – Broker do not Exist Anymore. 

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

Trading with MinuteOptions turned out to be a bad experience even though expectations weren’t high from the beginning. Not only it took a while just to begin reviewing this broker since the support sucks, but I was shocked by the un-fair account system. MinuteOptions simply sucks and that’s one word.

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MinuteOptions Full Review- Why you shouldn’t invest with MinuteOptions

MinuteOptions was launched on mid 2011 and based on SpotOption Binary Options trading platform which is a 100% web based with no need for any software to be downloaded. The main difference between MinuteOptions and most other Binary Options brokers is the account system. Instead of just one type of account for all traders, MinuteOptions offer different accounts with different advantages for every account depending on how much the costumer decided to invest. There are 3 different accounts- Bronze account, for lower investments, Silver account and the Gold account, for high investments. Each account has its own advantage over the other, the better the account is the better the bonus and the refund for Out-of-Money is. The trading process itself and the return are the same for each account. Other than that, MinuteOptions return is fair with an average of 73% for In-the-Money, the variety of assets is good for all types of traders and the site is overall user-friendly and easy to trade. So why does MinuteOptions Suck? 1. The support sucks 2. The account system limits the poor but endures the rich without any real reason. The account system is very tricky and without reading the small words any costumer could become a victim of MinuteOptions scam. Let’s say that you’ve decided to invest 200$. Not a large amount, but not a small one either. The first problem is that you’re not eligible for any bonus. The minimum deposit for a 20% bonus is 300$, so basically in order to receive the bonus you’ll need to start with a least 300$. The next step is creating the account. 300$ deposit is considered to be a bronze account at MinuteOptions. Now we have 300$ plus 20% worth bonus deposited in our Bronze account, so let’s start trading. In case we haven’t read the small words, we wouldn’t know that in order to withdraw our money after we’ve made some profits we need to make at least 10 other transactions, every transaction is at least 100$. In conclusion, we need to invest over 1000$ to be able to withdraw our profits, or to begin with a larger deposition to create a gold account which limits the minimum withdrawal for “only” 5 transaction. Another issue concerned the accounts system is the different charges for withdrawals. Costumers that hold a bronze account at MinuteOptions have to pay 30$ for any withdrawal. Gold accounts only pay 10$. The only conclusion that I can come with is to invest only in a gold account because the other accounts just don’t worth the bother. The problem is that if you’re a beginner, or if you just don’t want to invest so much money, not only that there’s no demo account for training and better understanding Binary Options but it will take you long time before you will be able to withdraw your money, in case you haven’t lost it already. High rollers or experienced traders willing to afford more expensive accounts will found the first reason why MinuteOptions sucks very annoying- the Support is horrible.

Is Minute Options a Scam?

The first time I contacted MinuteOptions I felt like they were mocking me. MinuteOptions offer a few ways to contact to support- Call back, International phone numbers and live support. As a reviewer I usually to prefer to talk over the phone with the brokers I review, but I also contact the live chat as a costumer so I can review and experience trading without the benefits of being a reviewer. The first time I tried I had to wait about 10 minutes before I received a massage saying that all representatives are occupied and thanks for my fading patience. After another 5 minutes or more the chat session was simply closed and I was referred to an E-Mail box. The next time I tried there was no live chat, and then again. Finally, after more than 5 tries and 4 hours, I was lucky to reach the support. That chat itself went smooth and the representatives were very helpful and polite, but the fact that it took me so much time and efforts to reach support is un-forgivable. Binary Options is all about high profits in short time so when I can’t reach support quickly when need it then I get angry, doesn’t matter whether I have a bronze account or a gold account. The funniest thing is that MinuteOptions apparently know that Binary Options is all about action; after all, their slogan is “More action, less waiting”, or should I say – “less action, more waiting”? My only advice to MinuteOptions owners is to stand behind their words or if not, then change them. MinuteOptions was a bad experience for me and I wouldn’t recommend anyone to invest with MinuteOptions, scam or not, they suck.

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MinuteOptions Ratings

 User Friendly 12/20

MinuteOptions is 100% SpotOptions web based platform, so there’s no need for software to be downloaded to the PC. The website is relatively new and easy to use, trading is simple and user-friendly. MinuteOptions has a visual tutorial and live walk-through for easier learning. The downside is that MinuteOptions doesn’t have a demo, and that the site is only available in 3 languages.

No. of Assets and Expiry time 12/20

Total of 52 Assets: 14 stocks, 12 currencies (forex), 4 commodities, 22 indices. MinuteOptions offer an average-high variety of assets plus there’s a touch option for trading during weekends (up to 500% profits). The expiry time stretches from 15 minutes untill the end of the day for most assets.

Commissions, Support and Effective return 5/20

MinuteOptions don’t charge any fees or commissions from investors when they first deposit or purchase options. Withdrawals are charged with a 10$-30$ fees depends on account type and are limited to a minimum number of transactions. MinuteOption support is available via 5 international numbers- UK, US, Spain, Portugal and Brazil or via email. The live chat service was awful and unavailable in certain hours. The effective return is among the average in the industry- an average of 70% In-The-Money return for most assets, while the Out-of-Money refund is between 1-10%.

Deposit, Payment and Bonus 10/20

MinuteOptions Minimum deposit is average/low- 100$ or 100€. Deposit is available via C.C., Wire transfer or E-Wallets. Withdrawals are generally available via C.C, wiretransfer and E-wallets. MinuteOptions offer a bonus of up to 20% with special promotions, with a minimum deposit of 300$.

Website Extra’s 8/20

MinuteOptions has some nice extra features such as the OptionBuilder and live news feed by yahoo. The OptionBuilder is unique for SpotOption platform, enables the traders to choose a specific asset and specific return and refund values. Another extra feature is the live news feed by yahoo that provides market information. MinuteOptions also has an article section, but it is only dated back to August 2011.

MinuteOptions rating: 47/100

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