3. GoOption Review

Introduction

GoOption is a bit like IkkoTrader in its heavy French language leaning. It is therefore suitable for use by the French-speaking people of the world found in Africa, Europe and other places. Traders will be served the SpotOption platform as the white label brand used by the owners of this brand.

Trade Types

The trade types are the same as seen on other brokers that use the SpotOption platform type:

a)      Binary Option (call/put)

b)      OptionBuilder

c)      60 sec option

d)      One Touch

e)      Open Platform: this is the trade with a variable expiry.

Asset Index

The assets that are available for trading on the platform of GoOption are:

a)      Commodities: Spot metals, (Gold, silver, platinum) as well as coffee, wheat and sugar are traded as commodity binary options.

b)      Indices:  Tel Aviv25, Bombay SE, CAC40, DAX, Dow, FTSE100, Hang Seng, ISE30, KL Futures, MICEX10, MSM30, NASDAQ, Nikkei225, RTS, S&P500, SSE180 Straits Times, Tadawul, TOPIX.

c)      Stocks: Traders can trade the following stock binary options on GoOption: Apple, British Petroleum, Coca Cola, Citi, Gazprom, HSBC, IBM, Microsoft, Lukoil, Nike, Nissan, Petrobras, SAB Miller, Sberbank, Turkcell, TATA Motors, Teva Pharma, Toyota, Tesco.

d)      Currencies: The majors (EURUSD, GBPUSD, EURJPY, AUDUSD, USDCAD, GBPJPY), minor pairs and some exotics such as USDRUB, USDZAR, USDTRY, USDSGD, and USDBRL can be traded.

Trade Requirements

GoOptions transaction methods are:

1)      Credit cards: For those come from regions where the use of credit cards on the GoOption platform is allowed, an account can be setup with $100. Not more than $5000 can be deposited with a credit card. Any such cards must be verified by sending a copy of the card showing only the last 4 numbers; every other detail must be obscured for security reasons.

2)      E-wallet: iDEAL, Nordea, Webmoney and Carte Bleue arefour online payment methods that are allowed on GoOption independently of Moneybookers. $100 can be used to setup the account.

3)      Moneybookers provides third-party card processing as well as an avenue to fund and withdraw from accounts directly.

4)      With bank wires, traders have a method of transaction that is the most secure, but also the slowest in transaction speed. It also takes more money to open an account: $500 to be exact. Traders can fund their accounts with an unlimited amount of money using bank wires.

When setting up a trade, remember that not more than $1000 can be exposed to the market at any given time.

Customer Support

GoOption operates a decentralized customer support system. It does this by providing different desks to attend to clients based on the issues they need help with. All contact with GoOption has to be made either through the online contact form, or via the live chat service.

For the online form, the trader must select the appropriate department from the drop-down meny so that the information filled on the form gets to the right unit. Otherwise, the live chat service which operates for 12 – 18 hours a day can be used.