TorOption is closed.
TorOption claims to be very user-friendly broker created with traders in mind. Even though it appeared on the market only recently, it claims that it already established itself as a good and reliable broker. TorOption claims to deliver a superb platform, great customer support, and extensive educational centre, as well as great security measures for banking transactions.
TorOption is a broker that is owned and operated by Smart Choice Zone LP, located in Scotland. TorOption review will provide traders with all information they need to know before they start trading with this binary broker. Find out more about different account types, software, customer support and banking methods in the review below.
TorOption Robot Trading Features
TorOption is not only a broker that supports automated binary options trading but also says to understand the importance of providing a good trading service. TorOption review showed that this broker offers four different accounts that traders can choose from. Of course, the more expensive accounts, the more benefits they have to offer.
TorOption Mini Account
TorOption review showed there is a Mini trading account that can be opened with $350 minimum deposit. All withdrawals for traders with this account are processed within 10 days. Traders can learn from an exclusive eBook and trade according to daily market reviews.
TorOption Standard Account
TorOption Standard account requires a much higher minimum deposit – at least $10,000. There is a special loyalty program for Standard traders, and all withdrawals are processed within 7 business days. Traders also get a call from their personal account manager who will explain all the details about trading with TorOption, plus all the benefits of Mini account. Up to 50% bonus is offered to traders with this account.
TorOption Executive Account
TorOption Executive account has minimum deposit limit of $25,000 which makes it rather pricey. Traders can enjoy 75% bonus and withdrawals that are processed within 5 working days. They also get a personal account manager and monthly trading sessions. An additional feature offered with this account are trading signals (twice a day), and one session with the analyst. Users get all benefits from less expensive accounts as well.
TorOption VIP Account
This TorOption account is the most expensive one, as it comes with $50,000 deposit. All VIP traders get a custom made bonus and can participate in VIP loyalty program. Withdrawals are immediate and there are 5 trading signals available each day. A weekly session with an analyst and up to 10% payout make VIP account ideal for professional and experienced traders.
As TorOption review explains, there are interesting bonuses offered to all traders who decide to deposit more and have a more expensive account. Unfortunately, careful examination of terms and conditions showed that trading volume is never clearly stated. This is not very user-friendly and can put the trader in an unfavourable position. It is not recommended to accept the bonus if all terms are not clearly stated in terms and conditions.
TorOption Trading Software and Assets
In TorOption review was found out that this broker is using one of the most present platforms in the binary industry – SpotOption. The platform can easily be navigated. Unfortunately, there is no demo account available on the TorOption trading platform.
TorOption offers a great variety of binary options types on their platform. Traders can place trades by using the following binary options:
- 60 seconds
TorOption also offers forex trading (that will not be reviewed in this article), and TradeFollow features that is based on copy trading and social trading. TradeFollow on TorOption give traders additional trading possibilities if they use them, but it is best to research them first.
TorOption supports all assets: indices, stocks, commodities, and currencies. Traders can choose among 12 currency pairs, 17 stocks, 19 indices, and 8 commodities.
TorOption Support and Services
TorOption review showed how this broker’s website is available in Russian and English. Additional languages would be more than welcomed, but as this is a fairly new broker we can hope they’ll add more languages in the future.
TorOption support can be reached in a number of ways. First, there is a live chat that is available for all traders who want a quick and easy way to communicate with the broker. The agent answered quickly but was not able to provide us with the precise answer, however, he promised to deliver it via email. Traders can reach them via email, online form and phone as well.
TorOption claims to take education very seriously and traders can use different reading materials and eBooks. Also, there are webinars for traders who like to participate in that type of learning activity, as well as educational videos. However, the videos are rather short and offer only the basic explanations of more complicated aspects of financial trading.
TorOption Withdrawals and Company Info
TorOption is in the ownership SmartChoice Zone LP. This broker is not regulated.
Traders who want to create an account must deposit at least $350, but every additional deposit is only $250. Minimum withdrawal is only $50. It is important to accentuate the fact that all withdrawals carry a $25 fee, which is rather high compared to other brokers’ fees. The withdrawals are processed depending on what account the traders has, as more expensive accounts usually offer a priority access for withdrawing. Other traders may wait for up to 10 working days, which is nowadays considered to be longer than necessary.
All traders have to deliver the documents requested by the broker.
TorOption claims to offer several methods for both depositing and withdrawing. However, our team was offered only credit cards – Visa, MasterCard, and Maestro. None of the eWallets listed on the website were offered to us upon registration.