About Redwood Options
Binary trading is the next big thing to hit the online trading industry. Not only is the process flexible, but it is extremely easy to access and achieve thanks to the Internet. One such binary trader that is gaining traction in the marketplace is RedwoodOptions.com.
Redwood Options is one of the newest brokers to hit the market. The company launched in 2013 and since then have quickly started to receive a dedicated following. The options broker is backed by the SpotOption platform.
In such a short time, Redwood has been able to establish itself in the binary trading community. One of the main reasons it has continuously been able to stand apart in the marketplace is because of its dedicated service and support for their traders. Each customer is afforded a personal account manager to assist with navigating the platform and trading guidance. Redwood has many great trading features such as:
- Option Builder
- Touch Options
- 60 Second Binary Options
Redwood Options gives traders the opportunity to manage their open positions. Features such as Roll Over, Double Up and Sell Early allow traders to take advantage of market moves without having to open new trades.
Redwood Options is known for their honesty and integrity as they are committed to providing traders with the best level of service possible. The company also has the backing of highly experienced financial professionals who push the company forward in areas of risk management, investment technology and mobile trading. Let’s take a deep look into some of the key features that makes Redwood Options stand out.
Top Features Of Redwood Options
Redwood Options may not be one of the veteran binary options brokers in the space, but they are off to a really strong start. Through offering the features that traders want most, many people are making the decision to partner with this broker. The platform is solid, as is a transportable trading platform. Reasonable terms and conditions, plenty of tools, trade types, assets, and first-rate customer service round out the package. The Redwood Options platform is 100% web based and you do not have to download any software to begin trading.
Redwood Options is using the famous Spot Option software that is very easy to use and requires no prior trading experience. When you trade regular binary options you can obviously select call & put (up or down). On top of that you have two features called “Double Up” and “Rollover”.
With the Double Up feature users have the ability to redo the investment by pressing the “double up” button that is clearly marked inside the interface. With this option selected users will get another trade with the same conditions at the current price. You will double up your investment and double up your potential profits.
Roll over is also another good tool to use if you wish to lower your exposure in the early phases of your Redwood Options review and trading. If your prediction is not going as planned you can expand the time frame for an additional 30% of the investment. So if you make a $100 binary trade you will have to invest $30 more to roll it over to a later expiry time. This is not possible to do with the End of Day Options Trading.
As far as site design is concerned, Redwood Options is very crisp and clean, making it easy to locate the trades you are looking to locate. Once logged into your personal account, it’s also quite easy to navigate and trade. As long as you are able to read English, you’re able to trade. The site includes a live stock ticker feed directly on the homepage of its website. This is courtesy of Reuters. The site also includes an Educational tutorial, which can be beneficial for beginners who are new to the Binary trading industry. This section of the site includes e-books, forums and also how-to videos.
Redwood Options is catered fully to the US trading market. It will soon also start to branch out into the European markets. However, at the moment since it caters to Americans, the site is only available in the English language.
Redwood Options Prices
With Redwood Options, you can trade as little as $5 on the 60 seconds options, which is lower than the industry standard. On request you can get a free e-book and learn about binary options trading.
There is also no cost to register with Redwood and you can open an account with a $200 minimum deposit. The service offers standard bonuses of up to 100% on deposits. As an introductory offer they are also even allowing bonuses of up to $20,000.
Redwood Options offer 10% Cash back on all lost trades! This is one of the best features of the service, which makes Redwood standout in the marketplace. The website accepts most major credit cards and if you refer a friend to Redwood, you get an automatic $50 bonus!
Criticisms Of Redwood Options
For the most part, indications are that Redwood Options is an excellent Binary Options broker, which makes an effort to keep the interests of their customers in mind. As a new platform in binary trading space, Redwood Options has many positive attributes, but there are still some areas where the platform falls a little short.
The main area of criticism of the site has to due with how the site handles money. Moneybookers is not available at Redwood Options just yet. Instead you can deposit with credit card or bank wire. Credit cards are free of charge but a bank wire cost $25 upon withdrawals. Also, the service takes some time before payment is issued to those trading.
There have been complaints from users who received their payments after as many as 5 days. However, this is likely all for the safety of the users as Redwood Options asks for a scanned photo-ID proving your identity and a utility bill. This is to simply comply with international banking laws from 2001 to prevent money laundering. As a result, payment can be delayed.
Since new brokers focusing heavily on US traders is growing faster than almost any broker in history, there is a lot of suspicion on whether or not Redwood is legit. Since Redwood is new, forums and the usual places for complaints are not going to be easy to check. Upon checking with Redwood traders and reviewing forums, the general consensus is that Redwood is definitely not a scam and one of the best support teams in the industry.
Redwood Options offers customer service and support that is slightly above average to other binary traders in the space. Redwood Options has a good live chat. It is not the fastest in the industry but it is there and if you wait 5-10 mins you will get the help you need.
What also makes the customer support first-rate is the site’s willingness to provide all active users with a personal account manager. This is really top-notch service and really helps guide new users through the platform. Once connected with the support representative, he/she will give you a call and guide you through the process of depositing and trading with Redwood.
In this competitive trading market, Redwood Options really separates itself apart from other brokers with their unique trading features and superior customer support and educational services. Even though the service may be a newcomer to the space, they have achieved a lot of success in a short period of time. The layout and design of the website is very modern and clean, which makes it easy to use. While the service is still working to enter other markets, it really does a wonderful job at catering to the American marketplace. So take some time and visit RedWoodOptions.com today and you’ll be trading in no time!