OptionNow

Editor’s Note – Why does OptionNow Sucks in 50 Words

Have you ever met someone who gave you a bad feeling? You know, the kind of person that makes you feel dirty just being around them? Well, there is no outright sign of fraud or dirty dealings but OptionNow is a binary options broker that fits that description.

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Why OptionNow doesn’t Suck

This broker might not suck because it is SpotOption based and pretty transparent in their terms. The broker boasts a UK, London address and includes most of the top features available with a great SpotOption broker. Along with this are full explanations of how withdrawals, bonus and “tangible gifts” work.

OptionNow Review – Just Another Binary Options Broker

This broker has been around for a few years and when you go to the website you will believe it, it’s a little dated. The broker has a UK address, registered through a holding company, but it’s headquarters are in Kingston and the Grenadines, operated by Zluti Marketing LTD. As far as being a SpotOption powered broker it is OK, not the best and not the worst. They have Long Term, Short Term, Pairs, One Touch and SpotFollow but no CFDs, no Ladders and no spot Forex. Expiry is good, ranging from 60 seconds out to 6 months, as is the asset list. What’s not good is the fact that, although UK registered, the broker just gives off a bad vibe, perhaps because it reminds of scam set-ups from the early days of binary.

Deposits and withdrawals can only be made by credit card or wire. They tell you in the terms that wires may be the fastest method to get withdrawals because credit card withdrawals can take up to a month or more to cycle into your account. Regardless, any and all withdrawals will cost $35 which is something you don’t see from top brokers any more. Bonuses are offered, but have a 50X trade volume minimum and are only withdraw-able if you deposit with a wire! Outrageous! Minimum deposit is $250, maximum is $5,000 but they encourage multiple deposits with VIP accounts up to $100,000. Tangible gifts are also offered, things like iPads and other gifts, these come with terms as well, 40X value in trade minimums.

Is OptionNow.com A Scam?

OptionNow.com may not be a scam but they have a couple of things weighing against them. First, we’ve had several complaints on the forum that lead me to think they are not a top choice. Second, they have the worst terms and conditions of any broker I have seen in a long, long time and don’t even have the best trading. Why would you choose a broker with withdrawal fees? Why would you choose a broker with 50X bonus terms? You wouldn’t, that’s why.

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OptionNow Ratings

User Friendliness 13/20

The platform is easy to use, it’s SpotOption after all, but the terms and conditions make it a less than friendly place to trade. High bonus terms, fees for withdrawals and long waits for withdrawals drag this score down.

Number Of Assets And Expiry 17/20

Assets and expiry are one of the best features of this platform but remain limited when compared to top SpotOption based brokers. Not to mention the fact that they do not support three of SpotOptions best features; Ladders, CFDs and Forex.

Commissions, Support and Effective Returns 15/20

They don’t charge commissions but they might as well. The fee for withdrawals, $35 regardless of CC or wire, is proof of that. Support is shaky at best, stated returns are misleading. They claim 200%, which is true on one touch only, but reality is 75%-85% for just about everything else.

Deposit, Payment and Bonus 13/20

Deposit and withdrawals methods are limited, and all come with a fee. Payments take much longer than the average broker and come with onerous bonus terms. A simple bonus requires a 50X minimum, a “tangible gift” 40X.

Website Extra’s 5/20

These guys score real low in this regard, primarily because they have less features than the average SpotOption broker today. Also, withdrawals are tough and bonus terms suck providing additional minuses for this broker to overcome.

OptionNow Overall Ratings: 63/100

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