Our experts tried to gather more information about OptionRally and it turns out that it is not ranking highly.
Top 3 Brokers February 2017
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OptionRally was founded in 2011 and their main offices are in Hong Kong. They are in fact the first brokers to have introduced binary trading apps for Android and iPhone users. Traders don’t need to download software to start trading. Their trading platform is web based, but this has become an industry standard these days. One of the good things about this broker is that they offer a huge selection of assets to be traded and they also have an education section on their website.
But, it has come to our attention that OptionRally is not regulated and for this reason we cannot say for sure that it is a legit broker or not. Our advice is to seek a binary options trading company that is regulated and licensed.
Before you sign up with OptionRally, keep in mind that the broker is not regulated. They have a SSL encryption, but this is the minimum security any broker can provide to traders to keep their funds safe. We cannot say whether the broker is legit or not, but it is important that you use caution when considering them for binary options trading. The broker you choose must be regulated and licensed so you are confident that your money is in safe hands.
OptionRally Withdrawal Methods
The methods of withdrawal, offered by OptionRally, include Moneybookers, wire transfer and credit cards. Although they state that withdrawals to credit cards take about 48 hours, this is very unrealistic because sometimes they take up to a week. For wire transfers, it can take up to 9 days. The minimum amount that you must have in your account to make a withdrawal request is $100.
OptionRally Demo Account
Demo accounts help traders become familiar with the trading platform. Trading using a demo account is very important in order to understand the features and to find out whether the broker is the right choice or not. At OptionRally, users don’t have access to demo trading which is quite unfortunate. In our experience, demo trading is essential for success and therefore every trader should choose a platform where they can demo trade before risking their money.
OptionRally Promotions and Bonuses
To avoid misunderstanding, we would like to tell you that in order to receive your bonuses at OptionRally, you must trade 30 times the amount of the bonus to be able to cash out. There are welcome bonuses for new traders and the amount usually depends on the type of account you have. But, the highest you can get is 30% if you have a VIP account. There are also possibilities to get further bonuses when you make more deposits. For VIP accounts, bonuses on redeposit is 15%. As a trader, you must keep in mind that to qualify for more bonuses, you must make more trades before you can actually make a withdrawal. For new traders, our advice is to read the bonus terms and conditions of OptionRally before signing up for an account.
As we searched for more information about OptionRally, we found that there are several complaints about the broker on the internet. Most of these complaints are from unhappy traders who have had problems with slow withdrawals. Another common complaint was related to bonuses and promotions and how they can tie traders up and prevent them from making withdrawals. It is quite disappointing to see so many complaints concerning withdrawals, customer support, bonuses and pricing. This is truly not a good sign. The best thing you can do before you sign up is do more research and look for a broker that is at least CySEC regulated.