Grandoption broker review

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Grand Option Binary Option Broker Review

If you have spent much time on our site at all, you know we are big fans of 24option. The guys who operate 24option run several other binary options websites as well, the newest of which is Grand Option. We were very excited when we found out, so of course we headed over there right away to open an account and check it out. Sadly Grand Option does not accept traders from the USA (you will not even find the country in the dropdown list), but they do take investors from around the world. Let’s take a look at what they have to offer.

The most unique feature is the low minimum deposit of only $100 USD. This is the smallest amount you can deposit and trade 60 second options anywhere online. The other brokers have minimum deposits of at least $200 and up. If you want to start out small and build up, GrandOption is a great choice for you.

Getting Started at GrandOption

Step 1: Account Creation

Create Free Account

You can get started on Grand Option in a matter of minutes. Simply choose the “Open Account” button, fill in your details, and proceed. You will be taken to the deposit screen, where you can use a credit or debit card, wire transfer, or an online payment system to make your initial deposit.

Step 2: Funding Your Account

The minimum deposit is just $100, which is awesome if you are a trader with a small bankroll looking to get started on a shoestring budget. Just keep in mind that withdrawals also require a minimum of $100, so you may want to deposit a little more so it will be easier for you to cash out when you are ready (that or plan on winning!). Also be informed that there is a small percentage fee for all of your withdrawals past the first of every month, unless you have a VIP account.

While you are making a deposit, you will also need to choose what type of account you want to open. This of course is based on the size of your deposit. At the lower end we have the Grand Option Standard Account. This account comes with free 24/7 customer support, including advice form a market expert. The video database of training materials is available to you for free. The next level up is the Grand Option Superior Account. This account includes an assigned market expert as well as a personal online trading session with a market analyst. You will receive an extra 2.0% return on your options.

“The highest account tier is the Grand Option VIP account. With this account you can make as many free withdrawals as you wish, and you get all of the benefits that come with the other accounts plus an additional 4.0% return on your trades”

When you choose an account, you may be offered a free bonus; think carefully before you accept a bonus, and make sure you understand all volume turnover requirements. Unfortunately, Grand Option does not offer a demo account. If you have practiced trading somewhere else already though, you will be ready to start trading live!

Trade Binary Options At Grand Options TechFinancials Platform

Types of Trades Offered by Grand Option:

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  • High/Low
  • One Touch
  • Boundary/Range
  • 60 Seconds
  • End of Day
  • End of Week
  • End of Month
  • Weekend

This is a simple type of binary options trade where you pick a direction and wait for the profits to roll in. You simply have to say whether you think an asset will be going up or down within a given timeframe. If you are right, you win the payout! If you are wrong, you lose your trade. Trading doesn’t get simpler than this!

One Touch

With this type of trade, you say that a certain asset will reach a given price by a given expiry time. If you are right, you win. If you are wrong, you lose. This is yet another very simple type of trade.

Boundary/Range

Wouldn’t it be awesome if you could make money when the market is doing absolutely nothing? You can with Boundary trades, also called Range trades. Simply invest when you believe price will range in a certain channel. If you are correct, and price does not break out, you win!

Other Types of Trades on Grand Option

The rest of the trade types on this site are all time-based. 60-second trades are just like High/Low trades, but they expire in 60 seconds. End of day trades expire at the end of the day, end of week trades expire at the end of the week, and end of month trades expire at the end of month. So whether short- or long-term trading strikes your fancy, you will find opportunities at Grand Option. Weekend trading gives you a chance to make money when traders on other sites have to sit on their hands!

Trading Features Available

Early close. Need to get out of your trade early? You can with this handy trade feature.
No double up or rollover. These features arguably are not as important as early close though.

Trading Assets

Currencies: AUD/USD, USD/JPYE, UR/USD, EUR/JPY, GBP/JPY, USD/CAD, NZD/USD, EUR/GBP, USD/CHF, CAD/JPY, AUD/JPY, GBP/CHF, NZD/CHF, CHF/JPY, GBP/AUD, EUR/CAD, GBP/CAD, AUD/CHF, CAD/CHF, EUR/AUD, USD/TRY, EUR/TRY, USD/ZAR, EUR/ZAR.

Stocks: Sony, ICICI Bank, Sumitomo, Tata Motors Ltd, Tesco, Gazprom, British Petroleum (BP), Barclays, Fiat, Vodafone, AXA, BNP Paribas, France Télécom, Société Générale, Google, Apple, Nike, CitiGroup, Coca Cola, JPMorgan Chase, Microsoft, Amazon, IBM, McDonalds, Disney, Amex, Exxon, Facebook, Baidu.

Indices: ASX200 Future, Nikkei225 Future, Hang Seng Future, Bombay 30, Nifty Future, Tadawul, CAC Future, FTSE100 Future, IBEX35 Index, SMI Index, DAX30 Future, MIB40 Future, S&P500 Index Future, NASDAQ100 Future, DOW JONES Future (Industrial Moving Average), South Africa 40 Future.

Commodities: Gold, Gold/EUR, Gold/JPY, Gold-Silver, Silver, Western Texas Intermediate (WTI) Crude Oil, Coffee, Corn

Is Grand Option a good broker? Legit?

Yes, all in all GrandOption is a good broker. They are legit and backed by a company we have worked with for years so we are comfortable trusting them. That it not to say they are perfect, Grand Option does have some drawbacks. Their site is a little tricky to navigate at first, but they provide plenty of information, including an abundance of training materials for all their traders, including an interactive eBook, trading articles, and video tutorials. This shows good faith.

Additionally, Grand Option is a regulated broker, with CySEC license 207/13. They have a profusion of excellent features including numerous different types of trades and expiry times, early close, and a wide range for investment amounts

Grand Option Review

Summary

Grand Option is a good choice of binary options broker for traders that are looking for a regulated trading environment. With excellent payouts and a stable platform, Grand Option is indeed a fairly reliable binary options broker for trading the financial markets.

Grand Option Review Introduction

The binary options market is home to an amazing array of brokers that have complete diverse trading products and services portfolios. Each broker concentrates on developing a financial product that is more suitable to their overall trading strategies. Regardless, there are cases where a majority of these companies try to keep their binary options simplified, in order to meet the expectations of the traders. In the end, traders have the freedom to compare different brokers and choose a company that satisfies most of their requirements.

Grand Option is a leading financial broker that constantly evolves its binary options products and services to set different benchmarks in the industry. The parent company that owns and operates Grand Option has numerous years of experience under its belt and is one of the primary reasons why Grand Option continues to grow at a rapid pace. There are several advantages of trading the binary options market with GrandOption, but our professional review of the broker’s binary options products should enable our readers to understand all the pros and cons of investing in the company.

Grand Option Regulation

Grand Option is a brand name that is owned and marketed by Rodeler Limited, which is the same company that is responsible for managing one of the most popular binary options brokers in the market, known as 24Option. Rodeler Limited is based out of Cyprus in the European continent and is regulated by the Cyprus Securities and Exchanges Commission (CySEC). CySEC operates according to a regulatory framework that is designed by the European Markets in Financial Instruments Derivatives (MiFID). Brokers operating in Cyprus are also authorised by the European Economic Area (EEA) initiative to cater to all traders from the EU member nations, which naturally warrants CySEC to adopt all laws and policies that concentrate on promoting the welfare of the investors.

Grand Option was launched in 2020, a year after Rodeler Limited received its regulatory license from the CySEC. Grand Option is open for traders from all over the world, with a few restrictions imposed on traders from the US and other countries. Grand Option provides a complete list of all countries that are accepted by the broker, and it is indeed a good reference point for investors before opening an account at the company.

Grand Option Financial Instruments

One of the main requirements for any trader would be the choice of financial assets and the underlying options available for trading. Regardless of the financial standing of a company or its reputation as an authentic service provider, brokers can only find success in the retail traders market if they can manage to meet their traders’ expectations with regards to the number of available instruments. A large number of traders may seek access to more than 10,000 financial instruments to cover the entire financial markets, while some traders may prefer to keep their trading simple, by trading only a few assets.

At Grand Option, there are around 100 different financial instruments from the FX, commodities, indices, and stock markets. The choice of financial instruments is a bit smaller than what one would expect from a large brokerage, but it still provides ample opportunity for the trader to choose his/her preferred investment product.

Forex Currencies: GBP/USD, AUD/USD, USD/JPY, EUR/USD, EUR/JPY, GBP/JPY, USD/CAD, NZD/USD, EUR/GBP, USD/CHF, CAD/JPY, AUD/JPY, GBP/CHF, NZD/CHF, CHF/JPY, GBP/AUD, EUR/CAD, GBP/CAD, AUD/CHF, CAD/CHF, EUR/AUD, USD/TRY, EUR/TRY, USD/ZAR, EUR/ZAR

Commodities: Gold, Gold/EUR, Gold/JPY, Gold-Silver, Silver, Western Texas Intermediate (WTI) Crude Oil, Coffee, Corn

Stocks: Sony, ICICI Bank, Sumitomo, Tata Motors Ltd, Tesco, Gazprom, British Petroleum (BP), Barclays, Fiat, Vodafone, AXA, BNP Paribas, France Télécom, Société Générale, Google, Apple, Nike, CitiGroup, Coca Cola, JPMorgan Chase, Microsoft, Amazon, IBM, McDonalds, Disney, Amex, Exxon, Facebook, Baidu

Indices: ASX200 Future, Nikkei225 Future, Hang Seng Future, Bombay 30, Nifty Future, Tadawul, CAC Future, FTSE100 Future, IBEX35 Index, SMI Index, DAX30 Future, MIB40 Future, S&P500 Index Future, NASDAQ100 Future, DOW JONES Future (Industrial Moving Average), South Africa 40 Future

Grand Option Payouts & Binary Products

Grand Option has a similar payout structure to its 24Option sister concern, and the ROI for binary options products are higher than what is offered as the standard payout in the industry. The traditional high/low binary options may qualify for up to 89% in payouts, which is higher than the 85% average ROI offered by competing brokers. The only drawback is that Grand Option does not provide any refunds or returns for Out The Money trades, but the payouts are still impressive. However, don’t expect Grand Option to pay higher returns such as 95% returns on investments, which is the average payout offered by a handful of binary options brokers.

While traders can take advantage of the excellent payouts, there are slight issues of trading with Grand Option, such as a higher minimum investment requirement of $25 per position and a dearth of the tradable options. Traders can only access the conventional high/low binary options, 60 Sec options, and long-term options across the different financial instruments and expiry times.

Although smaller traders may be required to make a few compromises, larger traders can certainly take advantage of the full suite of trading products, as the maximum investment per position is extended up to $20,000. The broker may also facilitate larger investments, provided the trader requires access to larger investment positions. It is not recommended to invest such significant amounts of money in a single trade, but larger traders may have some leeway due to their higher trading capital. Nevertheless, traders must ensure that they have sound money management skills and be proactive in their investment strategies.

Grand Option Trading Software

The Grand Option platform is a proprietary trading interface developed by Scipio that grants access to the markets through a web browser. The trading platform has a lot in common with the Tech Financial trading terminal, but there are a few differences in the overall trading features and trading functionalities. For instance, the Grand Option platform does not offer access to Touch and Ladder options, while the interface also lacks other popular trading tools such as TradeFollow and FX/CFD trading.

One of the main advantages of trading on the Grand Option platform is the ability to use stop losses and manage trades without incurring any large fees. The Stop Loss feature is designed to help traders specify exit points for their open positions at current or future market prices, either to lock in profits or to minimise losses, rather than losing their entire investments on a single trade. The broker also supports double up and rollover trading features, which help traders to double their investments or prolong their trade expiry times to modify their investments according to market conditions. As far as the flexibility of trading is concerned, Grand Option has one of the most useful trading platforms on the market.

Grand Option Mobile App

It is indeed good news for traders that the broker provides dedicated Grand Option apps for both iOS and Android devices. These mobile trading platforms are readily available through the Google Play Store and the Apple App Store and are compatible with most smartphones and tablets. The mobile trading interfaces are really a boon for mobile traders, who are more oriented towards installing dedicated trading apps to enhance their binary options trading experience.

The web-trader version of the Grand Option trading platform is also compatible with the web browser on your smartphone or tablet, especially for Windows and other mobile users. Most brokers design their trading platforms to offer a responsive trading template, which ensures that all web-based platforms work seamlessly on all devices, regardless of their screen size. Both the dedicated mobile trading apps and the web-trader interface offers excellent trading features without any compromises. Despite the small gap in performance, the platforms do provide a reliable trading experience.

Grand Option Minimum Deposit & Fees Of Payments

Grand Option has four different account choices, the Standard, Gold, Platinum, and Diamond accounts. The minimum deposit for a Grand Option account starts from $250, but there isn’t any maximum deposit limit set by the broker. All account holders get access to the basic Grand Option binary trading platform, but premium account traders can qualify for added account benefits and training resources. Traders can fund their accounts using credit/debit cards, e-wallets, and bank wire transfer, while withdrawals are processed through the method that was used to fund the trading account. The broker does not charge any deposit or withdrawal fees, and all withdrawals are processed on time.

If you don’t have an active trading career, or if you are prone to keep your account dormant for extended periods, you should account for account dormant or inactivity fees. Trading accounts that are held inactive for three consecutive months will be charged pretty high account maintenance fees. The fees are waived for traders if they open at least one trade within the span of three months.

Grand Option Bonus

CySEC and other European regulatory agencies have banned the concept of bonuses or any other similar promotional campaigns. Grand Option, being licensed by the CySEC, is not authorised to indulge in any promotional activities that involve free money. Therefore, your deposits may not qualify for any Grand Option bonuses. You should not be too worried about the lack of bonus, as this helps in improving the safety aspect of the broker and reduce the conflict of interest.

Grand Option Demo Trading

Grand Option also does not provide the option of a demo account, which is indeed peculiar. Most regulated brokers off the chance for traders to opt for a free demo account, but unfortunately, Grand Option has skipped on the demo trading account. However, you can get a free platform walkthrough and get accustomed to the trading interface by accessing the free online trading terminal, which allows you to browse through different options and experiment with the platform features. Nevertheless, we would urge Grand Option to consider offering a free and uninterrupted demo account to all users, irrespective of whether they open a live account or not.

Grand Option Customer Service Channels

Grand Option pays particular attention towards its customers to ensure that all traders receive the best support from the broker’s customer service channels. CySEC has made it compulsory for its regulated member firms to offer a professional and friendly customer service environment that not only aims to improve customer satisfaction but also offers a reliable platform that helps in addressing clients’ concerns. Customers can get in touch with the customer support team via email, web contact form, and an email address, but we did miss a live chat function. Regardless, the broker does tend to its customers’ emails and messages in a timely manner.

Grand Option Learning Resources & Trader Training

Grand Option may not claim to be the best broker in the market for trading resources and advanced training, but the broker offers a pretty standard online training platform to help traders learn about the different components of binary options trading. Premium and VIP account holders get access to personal account managers and market analysis, along with access to trading strategies and other trading features.

Grand Option Verdict

  • Grand Option is regulated by the CySEC and is authorised by the EEA to offer its services throughout the EU.
  • Payouts for binary options are higher than the industry average.
  • Grand Option offers a reliable trading platform.
  • Withdrawals are processed on time.

CONs

  • No demo account offered to traders.
  • Due to CySEC regulation, Grand Option is not ableto provide any bonuses.
  • Binary options such as Ladder and Touch options are missing.

What Are My Account Deposit Options?

Traders can start trading by depositing a minimum of $250, which can be funded through credit/debit cards, wire transfer, and e-wallets.

Is Grand Option A Scam Broker?

No, Grand Option is a regulated broker that is registered with the CySEC for a European regulatory license.

How Are My Funds Secured?

All traders’ funds are kept in segregated accounts, which can be used to compensate clients in case of broker insolvency. The CySEC carefully scrutinises all Grand Option accounts and financial transactions to ensure complete transparency of operations.

7 Binary Options

Marcio

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UPDATE (02.02.2020):

GrandOption has shut down their operations in binary options trading.

We recommend choosing one of our top binary option brokers instead:

Min. Invest Min. Deposit Max. Returns
All brokers >>
Min. Invest Min. Deposit Max. Returns

Try also Binary Option Robot if you are looking for automated binary trading.

Old Review:

GrandOption, founded in 2020, is a relatively new binary options broker based in Cyprus. Is this broker the best binary options broker platform for you? Read our full review to find out!

GrandOption Regulation

GrandOption is regulated by CySec and is a member of CRFIN

Just like the forex broking industry, the binary options industry is also notorious for being full of unethical and unscrupulous brokers, perhaps even more so. That is why the first thing we always look at when evaluating a new broker is the question of regulation.

If a broker is not regulated or weakly regulated, that means that traders who might have been scammed or taken advantage of will not have any legal recourse back to the broker.

In the case of GrandOption, the good news is that yes, it is indeed regulated. GrandOption’s holding company is Rodeler Ltd, the company behind 24Option, and Rodeler Ltd is regulated by the Cyprus Securities and Exchange Commission (“CySEC”) under license number 207/13.

While CySEC is not known to be a particularly tough regulator, it has definitely improved in recent years and is considered the standard regulator amongst binary options brokers. Furthermore, CySEC regulated firms are also required to contribute toward an investor compensation fund.

GrandOption Account Opening

At present, GrandOption offers four different types of accounts, described below. The minimum deposit amount is $250.

  1. Standard Account: The standard account that offers the standard high/low and 60 seconds options. Standard account holders will also have access to GrandOptin’s VOD educational database, 24/7 trading support and the full asset list.
  2. Gold Account: No restrictions on the high/low and 60 seconds options. Account holders also receive a personal market expert to help manage their portfolio plus a one-on-one market analyst session. They also get one free withdrawal per month and an extra 2% return on every trade.
  3. Platinum Account: The VIP level. Account holders get a personalized trading experience with a designated market expert that is available 24/7 to assist with any and all enquiries. Additionally, they also have access to personal training sessions with senior market analysts, free withdrawals, and extra 4% return on every trade.
  4. Diamond Account: The highest tier possible. Account holders can trade with zero restrictions and zero commissions plus a dedicated personal coach available at all hours. They also get a free training session with GrandOption’s top market expert, free withdrawals, and an extra 4% return on every trade.

GrandOption does not currently offer a demo account, which is a definite drawback. It also does not list the minimum deposit amounts necessary to move up the account tiers.

GrandOption Trading Platform

The platform is visually appealing, but somewhat lacking in options

GrandOption uses the TechFinancial trading platform that has several features such as stop loss/take profit feature, technical analysis indicators, trader’s choice bar, dashboard with trade history and informative price charts. The platform is web based but can be accessed via mobile app as well.

The types of binary options that GrandOption offers are quite limited compared to its competitors. They only have High/Low and Above/Below options with the following expiry times:

This lack of choices can be stifling for binary options traders who are used to more exotic types of binary options such as ladder and one touch.

GrandOption Asset Index

There are four asset classes that comprise GrandOption’s asset index: currencies, commodities, stocks, and indices. Currently GrandOption has 24 currency pairs, 8 commodities, 29 stocks, and 16 indices.

GrandOption’s list of tradeable assets will be extensive enough for your average trader, but might be below the needs of an advanced trader

GrandOption Deposits and Withdrawals

GrandOption offers quite a number of deposit and withdrawal options, they are credit cards, wire transfer, Neteller, OKpay, Perfect Money, Skrill, Qiwi, and Webmoney.

GrandOption Fees

GrandOption charges two kinds of fees, withdrawal fees and dormancy fees. Dormancy fees are charged after a trading account has been inactive for three months or more. After an account has been dormant, monthly maintenance fees of $85 will be charged. Withdrawal fees are dependent on which payment method is used and can range from 0.9% (Webmoney) to 3.5% (Neteller, credit cards).

All standard accounts enjoy the first withdrawal per month free. The higher the tier of account the more free withdrawals with Platinum and Diamond accounts enjoying unlimited free withdrawals. Withdrawal requests will be processed within 7 business days.

GrandOption Trader Education

As with many binary options brokers, GrandOption does offer a trader education section to beginners which it calls its ‘GrandOption Academy’. It consists of mainly how-to text articles with images but also has video tutorials on demand, an interactive ebook, and live webinars. Overall, GrandOption’s Academy section is quite extensive and is definitely a plus point in its favor.

GrandOption Bonuses and Promotions

GrandOption, like many binary options brokers, offers various bonuses to its traders. Some examples are technology bonuses, new account bonuses for mobile applications, cash bonus, risk free trade bonus, and money back guarantee on first trade bonuses.

GrandOption has recently introduced a new feature

As with all binary options brokers, to withdraw a bonus requires traders to fulfill a minimum trading volume requirement. Nonetheless if a trader makes a withdrawal prior to meeting said trading volume requirement, the full amount of all active bonuses will be deducted from the current balance of the account along with trading Profit/Losses connected to the issued bonus.

The full calculation is quite complex and can be found, together with examples, on GrandOption’s official website.

Conclusion

Overall, GrandOption is a safe and regulated binary options broker that would be most suitable for beginners. While of course experienced traders will have no problem using its services as well, it is highly likely that they would be unsatisfied by the lack of variety in terms of binary options and assets available.

The GrandOption Academy will also be of great help to beginner traders, however we note that the lack of a demo account, which is one of the main tools that beginners can use to learn how to trade is a definite negative.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

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