CallandPut Review
Editor’s Note – Why Does CallandPut Suck in 50 Words
I don’t know who they are! Really, I have no idea. I couldn’t find the name or an address of the owning company although I looked hard enough through their website, Terms and Conditions and I even had a half an hour long chat with their Customer Support. After running in circles for the most part of the conversation, the Live Chat gentleman told me this is “confidential” information…
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Why Doesn’t CallandPut Suck in 50 Words
Candlestick charts. This is the main reason why CallandPut doesn’t suck and other than that… let’s see: a pretty easy to use website and a friendly platform. No matter how much I try to find other positives, nothing stands out. I am not saying they are utterly bad, just plain, but seeing some candlesticks made me let’s say… more indulgent.
CallandPut Full Review – Another “Industry Leader”
“CallandPut is an industry leader in the field of online binary options trading”. I am not saying it, they are. That’s how their “About Us” section begins. Have you noticed that all brokers are leaders? Man, that top of the pyramid must be really crowded, with all those brokers stacked up there. Ok, sarcasm aside, let’s move on and talk about them a little: CallandPut was launched in… oh sorry, I don’t know when. They are owned by… wait, I don’t know that either. They are regulated by… eh, another unknown. Ok, I promised I’ll stop being sarcastic, but I cannot because CallandPut is very hush-hush about almost everything, telling me the name of their company is confidential so, yea, I had a tough time writing this review. I am going to stick to what I know so far: they are using the Trade Smarter platform which I like because it’s easy to use by both experienced and new trades. In a recent addition, Trade Smarter offers StrategiX as an extra set of features for their platform. This is almost a standalone platform which allows you to trade Above/Below, Range Up/Down and Touch/No Touch Options, while the normal platform only offers High/Low Options with 30 sec, 60 sec, 2 minutes and 5 minutes expiries. Unfortunately the StrategiX platform is only available starting at Level 1 VIP account which requires a minimum deposit of 10,000 USD. Well, the StaregiX addition is good, but nowhere that good. So if you don’t want to deposit 10K, the longest expiry available is 5 minutes and I don’t know if that is satisfactory. In fact I know: it’s not even close to satisfactory.
Most of their educational material is available only after you’ve registered but it’s nothing extraordinary or eye popping. Overall it’s a good way to get you acquainted with Binary Options and CallandPut’s platform; an e-book is also available after registering. And speaking of registering: they have three account types (Standard, Business and VIP), each with three levels, except the VIP which also has the level “Infinite” and requires a 100,000 USD. I believe their account structure should be simplified and I don’t see the purpose of having 10 account types (three levels for each tier + the Infinite)… see, even explaining that was difficult. On top of that, I believe the perks that come with a higher deposit and consequently a higher Level are too small (this almost sounds like one of those Role Playing Games where you level up as you progress through the game). For example, to get a Demo account, you will need to deposit 3,000 USD. That’s pretty steep I’d say. And you know what’s even worse? For that amount you will only get the Demo for… 1 week. If you want 1 month of Demo you will have to deposit 10K USD. That’s an expensive Demo account!
Is CallandPut a Scam?
Answering this question comes down to what each one of you considers a Scam. So far we don’t have hard evidence of someone being scammed by CallandPut but then again, we don’t know who they are so maybe they’ve scammed people but used a different name to do so. Bottom line is: we don’t know who they are and I would never give my money to someone I don’t know. Would you? Sure, you might say that a lot of brokers don’t disclose the name of their owning company, but just because others use this tactic doesn’t make it okay.
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CallandPut Complaints
The Cyprus Securities and Exchange Commission (CySEC) issued a warning about doing business with CallandPut in May 2014. The document can be accessed by following the link at the bottom of this review [1] or by checking CySEC’s official webpage. Other than this, we couldn’t find enough information or complaining customers.
CallandPut Bonus
The Bonus percentage varies a lot depending on the account type you choose. The lowest bonus is 20% and can go as high as 100% if you opt for the “Infinite” VIP account. The required turnover also ranges, depending on the bonus you received. For example, for up to 50% bonus, the turnover is 20 times bonus plus deposit amount and for a bonus up to 100% you will have to reach a volume of 25 times the bonus plus deposit. The bonus will be released into your account once the turnover is met.
CallandPut Withdrawal
Withdrawals can be made using the normal ways: Credit Card, Wire Transfer and Moneybookers (yes, I know MoneyBookers doesn’t exist anymore, but apparently they don’t). The processing time is 3-10 business days and funds should be returned to the same bank account or credit card where they originated. ID verification documents are also required.
CallandPut Extras
Apart from their candlestick charts which are not very common among Binary Options brokers, CallandPut have some sort of Social Wall. I have to say this is a poor attempt at social trading, because the Wall mostly informs you about who won, who lost and how much. From time to time stuff like “Trader X just opened a GBP/USD Put” appears but considering the short expiries offered on their platform (30 sec, 60 sec), I don’t see how that info could help a trader. By the time you open a trade, maybe Trader X’s option already expired.
CallandPut Ratings
User Friendly 17/20
The website is available in 7 languages. Trade Smarter platform is easy to use and just needs a limited amount of learning before you can open a trade. The features are pretty basic and this makes it easy to use but an experienced trader will probably find it a bit too easy. US traders are not accepted.
Number of assets and expiry times 11/20
They offer 17 stocks, 12 currency pairs (including Bitcoin), 6 commodities and 17 indices, which is too few for a “leader” of the Binary Options industry. They lack severely when it comes to expiry times, the longest being 5 minutes unless you use the StrategiX platform (available only for deposits of 10K USD and above).
Commissions, Support and Effective return 11/20
CallandPut doesn’t charge commissions or fees for withdrawing or depositing funds. However, your bank or e-wallet operator may charge fees so it’s best you check with them. Live Chat operatives are very skilled at answering a question with another question, running in circles and basically wasting your time. I understand they may have clear instructions to do so and I am not rating the person, but the service. Since I could only get a straight answer to the question “What is your minimum deposit?”, I will only give 1 point for Support. The effective return goes up to 85% but such a high percentage is not available all the time and on all assets, which is normal.
Deposit, Payment and Bonus 15/20
The minimum deposit is $250 but as mentioned above, they have 10 account types, with deposits going as high as 100,000 USD. Deposits can be made via credit cards, wire transfers and e-wallets (Skrill, ukash, CashU). Withdrawals will be made via the same methods except when it comes to e-wallets: only MoneyBookers is allowed (maybe they didn’t hear that MoneyBookers was rebranded as Skrill). The Bonus percentage goes as high as 100% and the wager differs as described above in the “CallandPut Bonus” section.
CallandPut Extra 10/20
Candlestick charts, the StrategiX platform and the Social Wall could be considered Extras, but I cannot award them too many points because the social wall is very basic, without useful information, the StrategiX platform is available only for VIPs and candlestick charts… come on, it’s 2015 and the Japanese are using those since the 18th century.
CallandPut Overall Ratings: 64/100
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[1] Link to CySec Warning on CallandPut