StartOptions was launched in early 2010. As with all binary option trading platforms, they are 100% web based so do not require software to be downloaded. They offer binary options on 40 underlying assets in the US and the UK.
StartOptions’s return on in-the-money options is theoretically competitive in the industry at ‘up to 75%’. However the lower end of the return rate is not stated which makes the benefits uncertain.
They offer a standard 10% return for out-of-the-money options, which is a good level for the industry, since it is standard across all of their options.
The site is well presented, easy to navigate around and offers some attractive sign-up bonuses.
StartOptions is different in that it is a white label site, based on the technology of TradeSmarter. TradeSmarter say that their system has been developed using the most advanced and stable technologies, enabling StartOptions to offer the markets most reliable, secure and robust binary options platform.
As is usual, the ownership of the company is unknown.
- 10% refund on out-of-the-money options
- Up to 75% return rate on in-the-money options
- Bonuses given on different deposit amounts
- Daily market review
- Open trades box showing trade performance
Tel: 004 20 8588 0667
StartOptions rating – 66 stars out of 100
Usability – 7 stars
StartOptions is a well presented site which is easy to navigate around. Registration is short, simple and free and they provide and in-depth FAQ section, answering a host of commonly asked questions. Trader can deposit money in USD, GBP and EUR. The GBP and EUR deposits will be converted to USD at the day’s exchange rate.
In My Trades History all of a person’s trades, transactions and their balance are presented in neat tables. In the My Account tab, traders have access to their personal details.
There are 2 different ways of viewing the trading area – either in boxes or as a list – making the site more personable for the trader.
No software download is needed, as the StartOptions platform, based on TradeSmarter’s technology, is 100% web-based. This ensures a smoother buying experience as no software updates are needed and purchasing can be made from any computer.
The site does not mention what the maximum amount for an option is, so no comparison can be made with the competitors. StartOptions also lacks an information page on payments and banking.
A first time buyer will find the site easy to use and enjoyable.
No. of assets – 7 stars
StartOptions offers options on the following underlying assets: 10 currency pairs (forex), 6 commodities, 19 stocks and 5 indices, totaling 40 assets for purchase. They also provide an Asset Index page with trading information on each asset.
Expiry range of options – 2 stars
The site does not state the expiry times of the asset so it is pure luck for the trader which options are available at what time.
Effective return – 8 stars
The effective return is the total percentage of return offered on an option. On the StartOptions website this is 85%. This is split between 75% for in the money options and 10% on out of the money options. A downside to the site is that it does not state the lowest return offered, meaning the lower end of the effective return is not known. From our research, the lowest return rate we saw on the site was 55%, making the effective return range 65%-85%.
Languages – 5 stars
The StartOptions website is only available in English.
Website extras – 6 stars
StartOptions members are provided with a useful tool to help them optimize their trading. This is an ‘Open trades’ chart which allows a trader to see their current trades in real time and hence follow their performance.
The site also offers a ‘Sentiment’ box which shows the percentage split between Calls and Puts for a selection of assets that day.
They also provide a useful Daily review of the market as well as a weekly blog with relevant market information (powered by an external site).
Fees/commissions – 9 stars
StartOptions does not take any fee or commission from its buyers when they purchase binary options. They are free to place, for free, as many options as they desire. They do not charge for any withdrawals made by credit card. Only a $30 processing fee is applied to bank wire transfers.
Loyalty offers – 8 stars
StartOptions offers 4 attractive bonuses to its first time depositors based on their deposit amount.
Payment methods – 7 stars
Deposits can be made via credit/debit cards, wire transfer and moneybookers.
Support quality – 7 stars
The StartOptions Customer Service team are available by an online form, live chat and phone. No days or times of the week are specified. They are contactable on UK and Cyprus phone numbers. The customer service team is friendly and helpful.