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  • AmberOptions

  • Bonus: Up to 50%
  • Options Payout: 70-80%
  • Rating: 1 / 10
Broker Name: AmberOptions
Platform: SpotOption
Founded: 2014
Bonus: Up to 50%
Return/Refund: 70-80%/0-5%
No. Of Assests: 62
Regulated:   No
Demo Account: No
Minimum Deposit: 200
US Traders:   Not Accepted

AmberOptions Review

Editor’s Note – Why does AmberOptions Suck in 50 Words?

AmberOptions is just one more of a string of SpotOption white label brokers. There is not one thing different about this broker from the average run and nothing to make it special.  The broker is based in Gibraltar, which usually means they take U.S. clients but they don’t even have that going for them. As for EU and other traders, there are much better choices of SpotOption based brokers to choose from. I’m not trying to say this is a bad broker, it just isn’t anything special. The platform is good and trading is good but you can get the same or better with other brokers.

 

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Why AmberOptions doesn’t Suck?

AmberOptions might not suck because it is based on SpotOption, one of my favorite platforms. Amberoptions has a pretty diverse asset list, the great option varieties users of SpotOption have come to know and love and some of the best choices of expiry of any platform I know of.  As far as trading goes AmberOption is among the top brokers….but is that enough?

 

AmberOptions Full Review – Still Haven’t Got the “Amber” Thing. Help Please.

AmberOption.com is a binary options broker based in Gibraltar and built on the SpotOptions platform. This broker is using the original SpotOption platform, which I think I might like better than the Spot2 platform some of the newer brokers are using. Like other SpotOption brokers AmberOptions is a white label and part of the greater SpotOption empire in those terms. The broker uses KYLV LTD UK for their payment and processing services, a tidbit of information that I have begun to see more of as the binary options industry matures.

 

Banking with AmberOptions is pretty easy. They accept CC, wire transfers and CashU. At this time they are not taking Skrill, Neteller or any other eWallet. Withdrawals are pretty standard and, refreshingly, described on the website in a very straightforward and unambiguous way. It will take 3 days to process withdrawal requests once ID and account verification is done. Then it will take 5-7 business days for the money to appear in your account. This means about 2 full weeks, about average for the industry. There is no fee for withdrawals if you use a credit card but there is a $25 fee for wires. Since all CC withdrawals are limited to the original deposit amount it is likely you will be paying this wire fee.

 

The minimum deposit is only $200. This is about average as well. Some are less, a few are more. The minimum trade is $100 and the maximum trade is $1,000. There are also limits on deposit amounts, about $5,000 for most methods. Bonuses are available as well, and again, are about average for the industry. You can get up to 100% cash match depending on your first deposit size so check with an account rep before signing up if you want to get one. As usual, the bonus will limit your ability to withdraw. You will have to meet a 30X trading volume minimum on the bonus amount before making any withdrawals from your account or else loose the bonus and all profits/losses associated with.

 

As I have mentioned, AmberOptions is a SpotOption broker so I won’t bore you with a lengthy review of what SpotOption has to offer. In a nutshell, AmberOptions has the standard call/put binary options trading with a wide variety of expirations. They also have One Touch, OptionBuilder, 60 Seconds and the Open Platform. Expiry will range from the shortest, 60 Seconds, out to the longest, end of the year, depending on the asset. The most heavily traded assets have the most expiry. On average you will find 60 second, at least one intra-day, one end of day and then maybe end of week, next week and on out to end of month, end of quarter, next quarter and the full year for some assets. The asset list pretty substantial as well, but doesn’t make use of all the assets available on the SpotOption platform. There are at least 4 dozen stocks, 14 forex pairs, 6 commodities and over 20 indices. Highlights of the list include Bitcoin, Rolls Royce and the Moscow equity index. 

 

 

Is AmberOptions A Scam?

It is likely that AmberOptions.com is not a scam but that does not mean that you should choose this broker. Just because they may be legit does not make them the best broker or even a good broker. From this perspective Amber may indeed by a scam because they are trying to ride the coattails of other, more respectable SpotOption and other platform powered brokers. If they are indeed the best broker, or even a top broker, why are they offering binary trading that is average at best?

 

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AmberOptions Complaints

As AmberOptions is relatively new there are not a whole lot of complaints out there. From what I could find only a few looked legit and were centered around one thing, having trouble withdrawing money without making any trades. There is also some concern about a signal service but it is likely the SSP is merely an affiliate marketing scam and not related to the broker, I hope.

 

AmberOptions Bonus

AmberOption has a bonus, up to 100% of your first deposit. There is a 30X trading volume minimum and maybe a time limit as well. Bonuses are automatically added so be sure to talk to an account rep before making your first deposit.

 

AmberOptions Withdrawals

Withdrawals are pretty straightforward and average for the industry. After account verification it will take about 2 standard weeks for your money to post in your account. This may be OK but it is definitely not the best I have seen. There is a new trend in binary options where brokers are rewarding their account holders, based on account size, with things like faster withdrawals. There is a $25 fee for all wire transfers but no fee for credit card withdrawals. Minimum withdrawal is $100.

 

 

AmberOptions Ratings

User Friendly 18/20

AmberOption is based on the SpotOption trading platform and therefore user friendly. The platform is easy to navigate, the trading is easy to understand and the banking is well explained. Website is available in 4 languages.

 

Number of Assets and Expiry 14/20

AmberOptions has a pretty good asset list but not the best, even among other SpotOption brokers. They have a decent number of stocks – 22 , 14 forex pairs, 6 commodities and 20 indices, but nothing special. They shine the brightest when looking at the indices but even this is not the best I have seen.

 

Commissions, Support and Effective Rate 16/20

There are of course no commissions when trading binary options with AmberOption. They make their money on the spread between the pay-out and average loss, which is 100%. They advertise an 85% rate of return for most assets but I found it to be more like 70-80%. Customer support is OK, live chat got me an actual person but not much detail.

 

Deposit, Payment and Bonus – 10/20

Deposits ($200 Minimum) are easy but limited to credit card, wire or CashU. There is no Skrill, Neteller or PayPal. This limits your withdrawals to credit card and wire which will cost $25 each time. Payments come in about 2 standard weeks, not the best and not the worst. The bonus is not good. I don’t like bonuses in general but this is one of the most archaic and designed to frustrate traders with loss.

 

Website Extra’s – 10/20

There are some extra’s available on this website but nothing extra you can’t find somewhere else. AmberOptions has Double Up and Rollover features, great tools for binary traders, but available with any Spot platform and most others too.

 

AmberOptions Overall Rating = 68/100

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