TorOption Review
- Excellent SpotOption Trading Platform
- Informative Customer Service
- Wide range of assets and markets for investors to participate in
- Not yet licensed
Toroption is run by Smart Choice Pro Ltd and is based at Trust Company Complex, Ajeltake Road Ajeltake Island, Majuro Marshall Islands MH 96960. It was established in the Forex market in the year 2015. Since then, there has been a lot of attention drawn towards this broker. It offers a wide range of financial services from a group of individuals with many years of experience in risk management which includes Forex, binary options trading, derivatives, and exotic options pricing.
This brokerage is not licensed. Toroption appears to be a reputable trading brokerage with a wide array of investment services. In this review we will go into full details about the aspects that make up this online trading brokerage and see whether or not they can be trusted.
Trading Platform
Toroption make use of a web-based trading platform which is provided by leading technology company SpotOption. This platform is very popular among online trading brokerages and is familiar to both beginner and advanced traders. The platform is quite advanced with an interface that’s very well designed and user friendly. SpotOption features a sophisticated charting package complete with an extensive number of drawing tools, technical indicators, and chart types for technical analysis. As well, the platform is lightening fast and allows for instant execution and 24/7 trading capabilities.Traders are able to place advanced order types such as limit orders, stop losses, take profits, and can select the amount of leverage to trade with, in an easy to do manner. It is an intuitive trading platform that can suit both professionals and newer traders. It is easily navigable, simple, yet streamlined in its efficiency – with a whole range of useful trading features
Exchange Markets
Toroption accommodates nearly every type of trader by providing a wide range of financial markets to participate in. Traders can go into trading of forex with numerous currency pairs including majors, minors and exotics. Toroption has a full asset index with listings for currencies, stocks, commodities and indices. It also provide a separate table for the hours of trading for each asset.
Fees
Toroption is somewhat flexible with the fees imposed on traders by allowing traders to choose between 3 different account types, all of which incorporate different fees through the spread. The opener account with Toroption starts with a $350 deposit. This is called Mini account, and bear in mind that most brokers allow you to open an account with $200 or even lower, so it is a little high. With $5000, a trader can open a Standard account and receive a welcome bonus of up to 50% of the deposit, an introduction call from Personal Account Manager, trial sessions with a top analyst and complete access to an account manager. The next one is the Executive account at $25,000 and the highest one which is the VIP account starting at $50,000. In addition to all the benefits listed above, this VIP package has a custom configured welcome bonus and weekly sessions with a top analyst. The bonus as at deposit could be as high as 150%.
Security and Fairness
As mentioned before, Toroption is not yet licenced, which imposes some risk for traders. However, Toroption has a good reputation and imposes the latest security and encryption technologies to protect their client’s information and funds. Current clients of the broker are okay and satisfied with the service they receive and the authenticity and quality of the trading experience. As for fairness, traders who wish to make large deposits for the higher account types receive additional benefits such as account managers, priority withdrawals, and more. Given all of this, we can conclude that the platform for trading Forex online, provided by the broker, Toroption, is built with safety and security in mind, for the comfort of their users.
Support
Trading can be done 24 hours a day, 7 days a week. Office hours at Toroption are Sunday through Friday, 9-6 UK time. You can contact the representatives through email, phone or by clicking on their Live Chat option which is displayed on the platform. All of the customer support staff, account managers and market analysts are there to help traders become successful in their financial accounts regardless of the size of the account. However, some of the options and assets are not available all the time. For example, 60 Seconds trades are available Monday through Friday, 24/5.
The website was developed by One Tech Media LTD. It is available in four different foreign languages. Also, traders can find answers to most questions in the FAQ section on the website.
Conclusion
Toroption is a competent and reliable trading brokerage.Trading binaries at Toroption is pleasant with easy navigation and the broker delivers all the opportunities needed to grow as an investor. Their SpotOption platform operates very smoothly and it is very popular among traders. The broker offers traders great support via a variety of methods and allows traders to choose an account type suitable to their needs. The broker is not yet regulated and therefore traders should approach Toroption with caution. However, they seem to be offering competent and reliable services.
Toroption Frequently Asked Questions
Here are some of the most common questions that are asked about Toroption.
Is Toroption regulated?
No. Toroption is not regulated.
Where is Toroption based?
Toroption is based in Scotland.
How does Toroption make money?
Toroption charges trading fees throughthe spread for each trade transaction.
How do I deposit in Toroption account?
Toroption accepts deposits through Skrill, Visa, Mastercard, Webteller etc.
How do I withdraw money from Toroption?
You can withdraw through the same way you deposited.
Is Toroption reliable?
Toroption has proven to be a reliable and trusted exchange.
Is Toroption a scam?
No. Toroption is a legit broker and is not a scam.
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