UpDownOptions was launched in June 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 43 underlying assets in the US and the UK.
UpDownOptions’s return on in-the-money options is competitive in the industry at 65-75%. They offer a 0-15% return for out-of-the-money options, which potentially could be good for the trader, depending on the frequency of the 15% return.
Their site has several features which make it attractive to a new trader – tiered bonuses when depositing into an account, an ‘Open trades’ box showing the activity of current trades and a full FAQ section answering a host of questions.
They employ industry standard security protocols (SSL data encryption technology) to ensure that all transactions & data entry including deposits and withdrawals are carried out in a totally secure manner.
They say that the UpDown Options team is made up of “truly dedicated and highly experienced professional individuals with many years of financial background”. The company itself is owned by another company, The Kernox Trading Inc.
0-15% refund on out-of-the-money options
65-75% return rate on in-the-money options
Bonuses given on different deposit amounts
‘Open trades’ box showing trade performance
Winnings bar shown on homepage
Established: June 2010
Country: British Virgin Islands
Tel: none provided
UpDownOptions rating – 69 stars out of 100
Usability – 7 stars
UpDownOptions is a lovely site which is easy to navigate around. Registration is simple and free and the FAQ section is well presented with a useful drop down menu offering answers to a host of commonly asked questions.
In My Trades History all of a person’s trades are presented in a thorough table. In the My Account tab, traders have access to their transaction history and deposit and withdrawal options.
The UpDownOptions site also offers and useful Payments page which clearly explains the different payment and withdrawal methods available and how each of them works.
No software download is needed, as the UpDownOptions 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 $500 per option which is relatively low for the industry. A first time buyer will find the site enjoyable to use and informative.
No. of assets – 6 stars
UpDownOptions offers options on the following underlying assets: 7 currency pairs (forex), 3 commodities, 15 US stocks and 8 UK stocks, totaling 43 assets for purchase. They do not offer binary options on any indices and the site lacks information about any of the assets which they do have.
Expiry range of options – 6 stars
The binary options on offer have expiry times, starting from a few minutes to the close of the trading day.
Effective return – 8 stars
The effective return is the total percentage of return offered on an option. On the UpDownOptions website this is 65-90%. This is split between 65-75% for in the money options and 0-15% on out of the money options.
Languages – 5 stars
The UpDownOptions website is only available in English.
Website extras – 5 stars
UpDownOptions 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 cute winning bar along the top stating the trader’s names and amount of money that they won on their binary option trade.
Fees/commissions – 9 stars
UpDownOptions 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 Moneybookers or credit card. Only a $12 processing fee is applied to bank check withdrawal.
Loyalty offers – 8 stars
The homepage states UpDownOptions biggest offering – they offer a bonus, based on the deposit amount, when a trader deposits money into his account.
Payment methods – 7 stars
Deposits can be made via credit/debit cards and online payment accounts. The site lacks a direct bank wire transfer payment system.
Support quality – 8 stars
The UpDownOptions Customer Service team are available by email, live chat and a trader can request a call back. There is no direct phone number to contact the team on. The live chat is available Mon-Fri between 9.00-21.00 GMT. Their customer service team is polite and the live chat helpful.