BullOption was launched in April 2010. As with all binary option platforms, they are 100% web based so do not require software to be downloaded.
They offer binary options on 24 underlying assets in Europe.
An attractive feature of BullOption is that 9-17% of the option’s investment is paid back even if it expires out of the money. Refunds are normally not given in binary option trading so this increases the site’s desirability. Their return on in-the-money options are high at a set rate of 65-85% making them a strong competitor with regards to return.
BullOption keeps its users up to date with current market news via their Reuters news feed.
BullOption has a unique feature of insurance. This means that there are no limits boundaries on any of a trader’s cash balance withdrawals and the Insurance will be given once the trader cash balance hit zero. For example 10% on 100 Deposit means 10 credits.
They use secure technology to protect their traders.
Where the site lets itself down is in the FAQ page. The text is copied from a competitor site and sporadically amended where necessary. This unoriginality decreases the impact of the rest of the site.
The ownership of the company is named as being Jandelle Investments Ltd.
9-17% refund on out-of-the-money options
65-85% return rate on in-the-money options
$50 deposit on sign-up
Insurance feature on deposits over $300
Up to 125% back on 1st deposit
Established: April 2010
Country: not stated
Tel: 0044 203 3186408 / 001 877 6340166
BullOption rating – 66 stars out of 100
Usability – 7 stars
BullOption is a simple site which is easy to navigate around. Registration is simple and free and the Account section is nicely presented and understandable.
Registered users have a comprehensive view of their account and its history. They can quickly view their past trades, current trades, transactions and bonuses. When withdrawing money, a buyer must send authorization documents as proof of identification. Though this slows down the process, it ensures a smooth and secure transfer. Once all documents are authorized, the withdrawal is processed within 5 business days.
There is no overload of information, with helpful FAQ, banking and asset index pages. What the site lacks is information on expiry times – there is no way of knowing what the next expiry time will be after the current trade offer.
No software download is needed, as the BullOption platform is 100% web-based. This ensures a smoother buying experience as no software updates are needed and purchasing can be made from any computer. An investor can purchase an option for as much as $9,999 per option which is and industry high. A first time buyer will find the site easy to use and enjoyable.
No. of assets – 5 stars
BullOption offers options on the following underlying assets: 8 currency pairs (forex), 6 indices, 6 stocks and 4 commodities, totaling 24 assets for purchase. Though the asset index page has information on more assets, the above ones are the only ones that we have seen offered on the site. Hopefully it is a sign of their future offering.
Expiry range of options – 2 stars
It is not mentioned what the expiry times are for BullOption assets. The only way to find out the expiry time of an asset, is to wait for the current trade to expire.
Effective return – 9 stars
The effective return is the total percentage of return offered on an option. On the BullOption website this is 74-98%. This is split between 65-85% for in the money options and 9-17% on out of the money options. This is currently the highest in the industry.
Languages – 5 stars
The BullOption website is only available in English.
Website extras – 6 stars
A helpful feature on the BullOption website is the graphs on the homepage. A trader can view the real time trend analysis of the asset, displayed in each asset’s trading box, which also shows the historical trend of the asset. This will help a buyer with his Call/Put decision. The website also includes a page on how to trade in 5 simple steps.
The website also offers insurance on its deposits: on a deposit of $300 and up, traders receive 20% insurance; on a deposit of $500 and up, traders receive 40% insurance; on a deposit of $1000 and up, traders receive 50% insurance. They explain that insurance means no limits boundaries on any of your cash balance withdrawals and the Insurance will be given once the trader cash balance hit zero. For example 10% on 100 Deposit means 10 credits.
Fees/commissions – 9 stars
BullOption does not take any fee or commission from its buyers when they purchase options. They are free to place, for free, as many options as they desire. The first withdrawal each month is also free of charge. From there on, there is a fee of 25 USD/ EUR/18 GBP for every additional withdrawal that month.
Loyalty offers – 8 stars
There is a Bonus tab in their Account section, alluding to the hopeful existence of bonuses. They do however offer a $50 deposit on sign up and 125% back on the first deposit.
Payment methods – 6 stars
According to the symbols on their website, deposits can be made via credit/debit cards and PayPal. The banking section does not expand on any other methods available.
Support quality – 9 stars
The BullOption Customer Service team are available by phone, email and live chat. No days or times of the week are specified. They are contactable via a USA and UK phone number. They have a quick phone response time and a helpful live chat team.