AskOption binary options broker was recently launched by a company called Peak Media Group Ltd with the main office located in London, UK. For the time being, AskOption is accepting US traders to trade with them. Even though it is a new broker and only entered into the market in 2015, it already has a large customer base who are loyal to them. The AskOption broker has a very active involvement in Facebook and Tumblr.
Trading Platform and Features
AskOption offers the Panda TS platform with a well designed interface that organizes its features into various tabs. The social trading app allows you to see how much the top traders have earned and the type of option they are trading for example high/low. There is a button that you can conveniently click to copy the trading strategies. The Option Builder feature allows you to build your own trading strategy.
The average payout for the high/low option is 81% and there are about 80 assets to choose from. There are 30 seconds and 60 seconds options available. It also offer options with 2 minutes, 5 minutes and 10 minutes expiry time. The minimum trade size is $5 and demo account is available for traders that want to test their strategies before joining. It supports a mobile app that is compliant with mobile devices that support the iOS or Android platform.
Trading Account Types
AskOption Basic account requires at least $250 to open while the Mini account has a minimum deposit of $500. Both new signups of the Basic and Mini account will receive a 30% welcome bonus. While Basic account holder don’t have any risk free trade, Mini account offers you 1 risk free trade.
The Standard account is for binary options investors that are interested in making an initial deposit of between $1,000 to $4,999. You get a welcome bonus that is equivalent of half of the amount of your deposit if you open a Standard account. As a standard account holder, you will enjoy 5 risk free trades and 5 live training sessions.
You can open a Premium account if you want to deposit in between $5,000 – $14,999. Those who sign up for a Premium account will get a 70% welcome bonus. You are also entitled to 7 risk free trades and will be given access to 10 live training sessions.
For the Ultra account, the minimum deposit requirement that you must meet is in between $15,000 to $49,999. If you have an Ultra account, they will award you with 85% of welcome bonus and 10 risk free trade.
The VIP account is for big investors who will be depositing more than $50,000 into their trading accounts. All VIP account holders will have the chances to accept a 100% welcome deposit bonus and enjoy 20 risk free trades.
Traders can deposit/withdraw money through most major credit/debit cards including Visa, MasterCard and Maestro. According to the KYC policy, there are some documents that you have to provide in 48 hours in order for them to process your withdrawal. You can also deposit or withdraw through bank wire but you will be charged a fee. AskOption is said to be adding Neteller as another method for traders to deposit or withdraw the money soon.
The customer support department will finish processing your withdrawal request within a timeframe of 5 days. You can only withdraw the funds in the preferred currency you choose when you register for your trading account. AskOption supports 4 types of currencies including USD, GBP, Euro and AUD.
You can contact the AskOption customer support department through telephone, email and live chat. The opening hours of the customer support department is from 8 am to 11 pm GMT. Telephone customer support is available to customers in the USA, Australia, UK, Canada and Bahrain. It has different telephone numbers for customers in the New York and Los Angeles in USA.
In conclusion, AskOption is not yet a regulated broker but it cares about the customers’ experiences. AskOption relies on the social media networking to improve their trading services through customer feedback. Newbies who are thinking of investing in binary options trading will find AskOption a good choice because it has a low minimum deposit.