On-line since: 2014
Country of origin: Cyprus
Regulation: CySEC
Payment options: credit cards, wire transfer, Neteller, and Skrill
Minimum account size: €200
Minimum lot size: $25
Leverage: -
Spreads: -

OptionWeb is a Cyprus-based broker specializing in binary options trading licensed by the local regulator CySEC in 2013.

Along with several other brands, OptionWeb is owned by Cyprus-based binary options trading provider Spot Capital Markets Limited, a firm that is a part of the SpotOption company (an Israeli provider of the eponymous trading platform).

The broker pays great attention to the safety of funds and anti-money laundering. Clients will not be able to start trading without passing the verification procedure. They should provide passport details, as well as credit card data and copies of payments of all bills.

The broker does not work with residents of certain jurisdictions, including Canada and the United States.

Trading conditions

The company provides its clients with access to 180 assets, e.g. currency pairs (including exotic ones), shares of global companies, stock indexes, and commodities. Notably, clients with big trading volumes can make a request for a certain asset if it is not currently available on the broker's platform.

OptionWeb offers traders the following account types: Basic, Standard, Silver, Gold, Platinum, and Diamond. The Basic account has a limited range of services (for example, you cannot open a demo account). Besides, you can trade only 80 assets. The owners of the Standard account are given access to 120 trading instruments but the initial deposit should start from €1000 to €3000. If you open the Diamond account, the sum of the deposit may go to €250,000. You will also benefit from all.

OptionWeb services

Traders can also choose from several types of binary options that are more suitable for them: regular options, short-term and long-term, one-touch, and so on.

OptionWeb offers its clients the SpotOption platform.

Promotions and bonuses

OptionWeb gives bonuses in accordance with a monthly percentage of the volume of performed deals. However, this bonus is available only for owners of Silver accounts and higher.

Training

OptionWeb clients can take advantage of personalized training sessions, webinars from experts, demo accounts, trading signals, reviews of economic indicators, etc.

However, not all traders can receive access to these services. Thus, the owners of the Basic accounts (€250-1000) cannot open the demo account. The owners of the Standard accounts (€1000-3000) can only use it for two weeks. For the holders of the Silver accounts (€3000-10, 000), the demo account is available for one month while for those whose deposit total €10,000 or more there is no limitation.

However, all traders can use an electronic library, a daily market review, an economic calendar, and a graphical analysis of the market.

Support service

You can contact the broker via live chat, email or phone. There is a feedback form on the OptionWeb website. The support team speaks seven languages.

Deposit and withdrawal of funds

You can deposit and withdraw your funds from OptionWeb using Visa and MasterCard cards and via the Neteller and Skrill payment systems. Wire transfers are also available.

The withdrawal period depends on the type of account. For the owners of the Basic account, it can take up to five banking days.

As it was noted earlier, deposit and withdrawal of funds is possible only after the account verification.

Feedback

Traders mainly complain about the limited opportunities for clients who have opened a Basic account: not enough analytics, no bonuses, and limited access to a demo account. Some users have technical problems when working with the broker's trading platforms. Some traders stress that the broker requires additional verification documents when they try to withdraw their funds giving a limited period for their collection and digitization (most complaints were about the utility bills that should be dated in a certain way).

Advantages and disadvantages

Pros:

  • regulated by (CySEC)
  • additional guarantees provided by parent holding company
  • wide range of assets
  • great array of account types with high profitability
  • mobile app

Cons:

  • high initial deposit
  • limited range of services for Basic account
  • lack of apps for Windows Phone

Add your review

Comments about broker

Deddy trader
review OptionWeb
30-06-22

I have been trading with OptionWeb for about 3 months with $200 and honestly, I had no issues with them ever. Instant fills, and executions. Even have had orders executed during news economic events with excellent fills. During these three months my I have earned a profit of $569 and yesterday was my 1st-time profit withdrawal. I withdraw more than 40% of the current balance from Neteller and I was surprised that my money arrived within 7 hours. I think Leverage could be better. Other than that, everything is okay.

Sandino trader
review OptionWeb
18-11-21

I wanted to open an account at OptionWeb because when I checked their services, they seemed amazing. However, the problem is that the company requires a huge amount of capital. Sadly, as a beginner, I still cannot afford to invest that much.

Ladang trader
review OptionWeb
20-09-21

I just switched to Option Web from another broker after I found out the negative reviews about this another broker. So I got recommended from my friend to join with them. I open small account, the process was very seamless and easy. Last week, an erroneous 36 pip spread spike stopped me out of a EUR/JPY trade, and I called the support and they were onto it right away once confirmed with the LP and my account was refunded immediately. I already gained almost 12% of my profit. Quality platform, never personally had any issues with execution very limited slippage.

Gerardo trader
review OptionWeb
31-05-21

My trading is painful with OptionWeb broker so far on the MT4 platform. Their has hidden terms that they charged high spread by the EA trading and EA has been stopped works according to my direction. already I've lost $285, my pending order didn't execute too. Also, I can't withdraw my investment via a Neteller account. So I've stopped trading with OptionWeb broker.

Lemual trader
review OptionWeb
03-03-21

While the trading services of OptionWeb are remarkable, their customer relation is not that desirable. They are slow in responding and they are somehow impatient. Sometimes, I am hesitant to ask for help because I feel that they are not willing to assist me at all.

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