Redwood Options is a new binary options broker which comes fully loaded.
Redwood Options binary options broker has been established for a few years now. But at first glance you might think it’s fairly similar to some of the other binary broker offerings online, but look closer and you’ll find yourself happily surprised. It still has a little work to beat the big boys at the table, but in many ways it has more to prove and more to offer it’s binary options traders than the more established brands.
Because what Redwood Options is proving is that being still relatively new to the market doesn’t mean that it’s platform should lack in trading features. Oh sure, it might lack some of the razzle dazzle of the bigger brands, but what’s important here is the trading options it provides.
Here you’ll find some of the best option types we’ve come to expect, such as the One Touch and 60 Second Options, but what makes it stand out from the rest is their Open Platform. This allows you to see the whole binary options trading environment beautifully and gives you insights into what other traders are doing, bringing a social aspect into the binary options market.
The Option Builder is a great additional touch allowing you to customise your trades as you go. Select the type of contract you want, the expiry time, financial asset, risk VS profit ratio, and how much you wish to invest, and done! Expert traders will love the greater flexibility and the ability to tailor their trades according to their specific expertise.
The range of assets available is decent (over 158 in our counting), including commodities, stocks, indices and forex currency pairs. They have also recently added stock pair trading in to the mix with 24 pairs available. More importantly these, as with the whole trading platform, are easy to navigate and very clear, making trading binary options almost effortless.
An instrumental part of what Redwood Options provides is its up to date financial news and educational section. What it lacks in finesse, it makes up in trying to provide you with the best tools to trade with, including weekly financial market reviews giving you historical insights into what future trades might hit high or low. These financial tools are really indispensable and we found ourselves browsing this section for longer than expected.
It’s hard not to make the obvious comparison to the broker TradeRush, which has a similar look and feel, but is a far more established trading platform.
That said, the Redwood Options trading platform has started to differentiate itself over and establish itself as the binary options broker of choice. With recent additions including a strategy advisor where you it automatically analyses recent market data based on your pick of the relative strength index, Bollinger bands or moving average trading strategies. You will then be guided to place a CALL or PUT option based on its recommendation.
Another recent addition is the Redwood Options Follow feature where you can follow the trade actions of other successful traders and increase your skills through learning and watching what they do. Then when you are ready you too can profit by copying their trades. An innovative feature that beginners to binary options can easily take advantage of.
Redwood Options provides an average choice of financial assets to trade from, with its 82 Stocks, 25 Forex Currency Pairs, 7 Commodities and 44 Indices you have a total of 158 tradable assets (when we last checked). They have also recently added 24 stock pairs to the list.
It's one of if not the biggest list of assets out there, so for self starters looking for a solid trading platform to trade some of the bigger options, it has enough to keep you occupied. Since they started back in 2013 they have considerably grown their assets list adding more stocks and indices and currencies to the mix.
Their expiry times range from 60 seconds up to around 6 months. Which can accommodate the risk takers and far more patient options traders out there. Weekend trades are limited by the number of assets that are available as some markets close and the One Touch option only has a Monday to Friday options available.
Similar to TradeRush, Redwood Options trading platform boasts a return on your investment up to 81%. With the average being around 75% and minimum about 70%. These returns are more than average and more than acceptable, considering the trading platform itself works so well and makes it so easy to trade.
New traders will be particularly happy to hear that Redwood Options offer a 10% return on your investment if your option expires Out-of-the-Money. A great little addition for traders just starting out to regain some losses.
The minimum deposit amount is 200 EUR/USD or 20,000 JPY depending on the currency you choose when you first set up your Redwood Options account. This is a little high in our books, we prefer the more standard 100 EUR/USD, but it's not exactly a deal breaker. If you are comfortable trading, chances are this is as good an amount as any to start you off with a new binary options broker.
If you like to spend big then the maximum amount available to deposit should make you happy. You can deposit up to $5,000 USD for Credit Card, $10,000 USD for Western Union and, best of all, unlimited with a wire transfer.
The minimum withdrawal amount is 100 EURO or USD (you can pick your currency when you register). The withdrawal procedure is pretty standard for binary options brokers and on your first withdrawal you will need to provide a Photo ID, proof of address and, if you deposited using a credit card, a copy of the card you used.
There is no withdrawal fee via credit card however if you choose a bank transfer then a $25 processing fee will be charged. Payment can take up to 3 business days to process the request and a further 5-7 business days for the funds to show in your account, not exactly swift, but a small price to pay.
Their customer support team are friendly and helpful, we found little to complain about in our dealings with their knowledgeable staff. That said, Redwood Options loses a fairly large point by providing support, and the whole site, in one language, English. And though they do have local phone numbers available, it's for US and Canada only.
That said, you can contact them via their Live Chat 24 hours a day, Monday-Friday, which is great help when you are trading assets all hours. Alternatively you can use their on site contact form or email them directly.
Like all good binary options brokers Redwood Options mobile apps have you covered. Whether you own and Android phone or iPhone they have dedicated native trading apps for you to download to maximise your binary options trading experience.
These binary option apps don't reduce the amount of features available to you, you can make secure deposit and withdrawals, view your trading history and make trades using their intuitive mobile platform. You'll find it beneficial to keep on top of your options wherever you are.
Redwood Options shines in the education financial tools and features they provide traders. We particularly love that they treat each of their binary options traders like a VIP, giving one-on-one advice and personal forex training - something even the most advanced and established platforms don't provide.
Take a look in their Education section of the site and you will find some great educational tools to get you started or keep you on top of your game. They provide an EBook with an extensive background in to binary options, and detailed information covering all areas and factors you need to consider when trading binary options online. this is a fairly standard offering, but it was actually incredibly insightful for a beginners guide to binary options trading and would recommend for new traders.
When you sign up you can get access to their binary options Video Academy where you can learn more, from the basics to more advanced strategies and tips they can help beginners and more advanced traders alike. If you want a sneak peak they do offer two free to view videos including, Introduction to Binary Options and Trading Psychology, but you will have to register to see more. Registering is free and does not require a deposit to access the academy, so it's worth taking the couple of minutes to do so.
Overall Redwood Options is one of the best binary options brokers to newly emerge on the market. It is still quite new, and lacks some of the finer features we've come to expect from the bigger brokers. Multiple languages and more local phone numbers would have been good.
But we still feel this new broker deserves your interest. It's intuitive navigation, fantastic financial tools and a great range of financial betting options, make this one to watch out for.
With its 158+ assets, 60 seconds and One Touch trade options along with it's Option Builder for customized trades, it can be a great choice for new and advanced traders alike to use. Worth a look in our opinion.
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