Redwood Options Broker Review
Redwood Options Broker Review
April 13, 2013RedWood Options is a brand new Spotoption-powered binary options broker offering an amazing trading experience for amateur as well as more experienced traders.
Registration
At first glance the signup process was very easy and intuitive. There are no unnecessary steps or obstacles placed in your way. You just fill in the details and start trading and making money.
Secure Trading Platform
Redwood places security and safety at the top of it’s priorities. It took 2 seconds from the time I finished signing up until they called to verify my identity.
Minimum Deposit/Trade
The minimum deposit amount is $/€/£ 200 and min trade is $/€/£10.
Ease of Use
This broker is has an extremely user-friendly interface that simply positions all the trading tools you need in a very smart way,and this let’s you focus on the core issues – namely implementing your trading strategy and taking positions on available contracts.
Assets
Assets include:
- Traditional stock options such as APPL, KO, and BP.
- Currencies such as EUR/USD, EUR/GBP, GBP/USD, USD/JPY, and USD/CHF.
- Indices such as the Nasdaq, S&P500m, Dow Jones Industrial Average (DOW), CAC, DAX, Tadawul, and FTSE .
- Commodities such as gold, wheat, sugar, coffee, platinum, silver, and oil.
Features
- Standard High/Low (Above Below) Digital Options: Simply guess the direction and choose the expiration time and date in the contract.
- Options Builder: Customize your trades to fit your particular trading styles (i.e. technical, scalper, swing, momentum, news trader, & so on)
- One Touch: This is when the underlying price needs to be traded only at or above the call option one time, or at or below the put option one time in order for the trade to expire in the money or out of it correspondingly.
- 60 Second Options: Same as High/Low but in 1 minute intervals.
- Open Platform: Trade with a wide screen and sharper graphs. You can also stop your trades before they expire (not on all assets). When you stop the trade, you get a new price offer on the options (variant of your win/loss ratio).
Welcome Bonus
Redwood offers a bonus package of up to 50% of your initial deposit depending on your purchase amount.
Payment Methods
Redwood accepts all major credit cards such as Visa. Mastercard/Eurocard, and Amex (American Express), Prepaid Credit Cards, Maestro, Switch, Diners Club, Solo, and Debit Cards. Accepted E-wallets are Moneybookers (Skrill), and CashU. Wire Transfers are also accepted.
Customer Service
Redwood customer support does an incredible job, and has a trained staff available 24/7 via email, live chat, and telephone. The team includes analysts, account managers (junior and senior), consultants, and customer service reps that just help you get around the trading platform and provide assistance.
Summary
Overall this broker ranks tremendously high across the board. The platform is incredibly intuitive and easy to use with a very good demo account. Depositing and withdrawing was simple, the support was friendly and professional, and the overall trading experience was excellent. The only downside is for traders wanting or expecting a multi-language trading arena. The reps themselves speak French, Italian, Spanish, German, and even Arabic, but the actual software is provided only in English. Overall I would give this binary options broker a score of 9.5/10
Click Here to Start Trading
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