Plus Option is allowing traders to trade in indices, stocks, commodities, and currencies, including cryptocurrencies, online. They operate under Redfield Markets Limited based in 78 York Street, London, England W1H1DP. They are unlicensed Forex brokers and therefore are not under the European regulator CySEC.
The process of trading using this platform begins with opening an account, making a deposit and then making one’s portfolio. It works on the premise that the trader knows the ropes.
The company has 190 assets that include stocks, indices, currencies, and commodities. The broker operates under CDF to offer traders these options. The software they use is provided by Spot Option that is regulated by CySEC.
There are four accounts to choose from. They are Micro, Silver, Gold (most popular according to the website), and Diamond. There are different entry levels for each. With the Micro the minimum deposit is $250, with the Silver $2,500, the Gold is $10, 000 and the Diamond is $50,000. With the latter two, there are additional perks that one gets, including having an account manager and receiving investment and risk management plans. With the Diamond package, the trader receives a higher bonus than those using other accounts as well as access to various opportunities and VIP events.
Overall, each plan offers the trader access to the 190 assets available in the platform. Daily reviews and trading alerts get sent to one’s email and mobile number. The accepted methods of making a deposit or withdrawal are MasterCard, Visa, Skrill, Yandex Money and Web Money.
Their process of opening an account is straightforward. One needs a copy of a photographic ID and the credit/debit card they are using to open the account, proof of address, and other documents that the company discloses individually. These same documents are equally needed during the withdrawal process. The withdrawal process takes on average 14 days. The fees are usually according to one’s banking service provider and will likely include the processing fee and exchange rate fees. Only those in the Diamond account get a 24-hour quick withdrawal offer.
The minimum withdrawal account is $100, and the bonus needs to be as per the 30x target. Lack of meeting it means that one cannot withdraw. There needs to be a continuous account activity. Should an account remain dormant for more than 30 days, a $49 fee gets deducted. On the second month, the fee goes up to $99 that gets deducted should the person not close the account. Should a person wish to close the account, one gets a refund. Depending on the account activity, a 10% charge is leveled against the total amount in one’s account.
The website is simplistic; there are no features that stand out. It is however easy to use, with all sections clearly labeled. The only problematic area is that the Market Review tab does not work, and has not done so for a while. Overall, a person gets decent experience when using the website. They provide essential resources and an FAQ page providing most pressing issues. It is also bilingual, with English, Russia, German and Arabic speakers in a position to use the site. It also runs on Spot Option, popular software that traders use.
Plus Option operates on the premise that the trader is familiar with what’s required of them to make money. When a person loses, they lose all their investment, but when they make a return, they only get to keep 70-80 percent of what they earn. For that reason, a person needs to make the same percentage return to make the most out of their platform.
Plus Option also offers a trading platform similar to what the website provides. That means that a person, with the app, can trade on the go without having to use the site on the phone, which does not quite offer a comfortable experience. The app is free and void of ads and other hidden content. One can get it via Google Play or the App store. The interface, just like the website, is user-friendly and offers the convenience that we all hope to have when using our mobile phones.
- It has a user-friendly site with basic features
- Plus Options provide their traders with a free app for both Apple and Android
- There are 190 assets to trade from
- They offer various accounts for traders at all levels
- They are not registered, brokers
- You can only withdraw the bonus when you’ve hit the target
Plus Option is ideal for seasoned traders that wish to make money off trading various assets. The website and mobile apps are easy enough to use and have user-friendly interphase. With the 190 assets to trade from there are more than enough ways to make money by using this platform to trade.