PowerOption Review

PowerOption Review

Author
  • Website
  • Trading Platforms
  • Support

 PowerOption, founded in the Seychelles in 2013, is a binary options broker powered by AvaTrade. The simplified interface of the PowerOption platform provides features and tools that are easily understood by beginner traders as well as professional investors.

Accounts

PowerOption offers four different accounts. The High/Low Options account is the simplest type and it involves selecting a particular asset, defining a trading period and deciding whether the asset will rise or fall in value by the end of the trading period. A click on the Call button confirms the price will rise. If the trader thinks the value of the asset will fall he simply clicks on the Put button.

With the One Touch option, a trader has to reach a selected target price within a designated trading period, whether up or down. What matters in this account is whether the price touches the predefined value (above or below the current price).

The PowerOption Range account offers the trader two predefined price ranges –one above and one below the asset’s current price. If the price lies within the selected range at the end of the trading period a trader can earn 100% on his/her investment. For quick results, PowerOption’s lightning 60 second trading is the way to go. In this account, a trader chooses from a range of Forex pairs, indices, stocks or commodities, and must decide if the price of the asset will move up or down within 60 seconds.

The PowerOption demo account is offered to novice traders just getting started in options trading. However, there was no clear indication of how long the demo account could remain open and how many trades were permitted.

Features

PowerOption offers close to 100 different assets, including a long list of Forex pairs, stocks, indices and commodities and a choice of several trading periods. The company also offers mobile binary options trading and the mobile app includes market analysis and real time quotes. Welcome bonuses go as high at 100%.

The landing page of the website is nicely laid out without too many flashing numbers and each page opens easily to additional information. The website is also pleasing and clear, with simple directions for opening an account without the distraction of ticker tapes or other moving numbers scrolling across the front page.

Customer support, including live chat is available 24 hours a day during the trading week. A call put through in the late evening found the response courteous and informative.

The Resource Center provides a series of instructional videos, an eBook and an economic calendar.

PowerOption uses AvaTrade’s technical experience and adds it as another dimension to its binary options platform. You’re in good hands at PowerOption.