OptionGround

Important Notice – OptionGround is now RegalOptions.com

Why Does OptionGround Suck in 50 Words?

OptionGround sucks because of all the limitations on position size. This is a detail that could keep more experienced and aggressive traders from choosing this broker. The maximum position size is $1000 of the account currency. There is no limit to the number of options you can buy but there is what they call “exposure limit”. This is set at $2,500 which means that in the end the most you could trade on one position at one time would be $2,500.

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Why Doesn’t OptionGround Suck?

Optionground doesn’t suck but there is nothing special about it. The broker is just another Tech Financials white-label with most of what you would expect to find. There is a wide variety of assets, expires, and options available. Currencies, indices, stocks, and commodities are tradable across the standard run of high/low, touch, and 60 second options. Just so you know Tech Financials is the platform used by 24Option and OptionFair. It’s a white label just like SpotOption only not as well known.

Optionground Full Review – Average at Best

To say Optionground is just another Tech Financials brand may be too generous. It is a white label but unlike any other broker, I have encountered so far. The platform has the same binary options as other brokers but they are not presented in the same way. I found the platform to be confusing and hard to navigate.  Available options listed in a hard-to-read format that I did not like, especially when there are so many other good brands out there. The asset list is only average as well. They have stocks, indices, commodities, and currencies but only a handful. There are 12 indices, 3 commodities, 16 currency pairs, and only 9 stocks.

Payouts range from about 70-85%. Max payout is hard to determine because in some places they say it is 80%, in others 85%. Most options I have seen are around 78-83%. Expiries are determined by an aggregated method that draws information from a variety of top sources. This is supposed to ensure the most accurate and fair expiry levels and a method I have seen other brokers adopt as well. The expiry for each option is determined by the last quote shown for indices and the average of the bid and ask prices for forex, stocks, and commodities.

Deposits can be made by credit card, wire transfer, or MoneyBookers. All accounts will start out as a standard account but can upgrade after contacting customer service. Upgraded VIP accounts will get the added benefit of increased payouts. The minimum deposit is a little questionable too, on one page it says $250, on another $200. The minimum deposit for a wire transfer is $500. Accounts can be denominated in USD, EUR, or GBP. As with any off-shore transaction, SWIFT codes are required for deposits or withdrawals made by wire transfer.

Is Optionground A Scam?

Probably not…but with so many established, regulated, trusted, and better Tech brands out there why bother. Time will tell if they get better or stays put.

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OptionGround Complaints

I did not find too much on the internet in the way of what I would call third part reviews. There was a lot of SEO and affiliate marketing-type material. What I did find seemed to echo my own thoughts. This broker is probably legit but has too many drawbacks to be really attractive to serious binary options traders. The consensus of reviews I was able to find was that Optionground is a C-rate broker.

OptionGround Withdrawal

Withdrawals can be made to the original deposit source or by wire transfer. This means back to your credit card, MoneyBookers, or bank transfer. This is adequate but does not offer the flexibility you will find with more established SpotOption brands. One withdrawal per month is free, the rest will incur a $30 processing charge on top of fees generated by wire transfer. Minimum withdrawal is $200, minimum withdrawal for wire transfers is $250. Requests are processed within 36 hours but funds may not be available for up to 14 days. Withdrawal may also result in the loss of bonus money and/or profits made from investing any bonus. Bonus money must be traded 40 times its original value in order to be eligible for withdrawal.

OptionGround Bonus

Bonuses are available to all new clients. First-time deposits are eligible to receive up to 30% of account value with a maximum bonus of $1500. First time deposits up to $499 receive 10%, $500-$999 20% and deposits ranging from $1000-$5000 can get 30%. This is a much lower bonus system than other established brokers and something that may keep traders from choosing this broker. Also, bonus money must be traded 40 times the original value to be eligible for withdrawal. That is more than other brokers require and another reason not to choose this broker on the grounds of a bonus. If at any time you make a withdrawal of funds prior to trading that 40 times value you forfeit the bonus and all profits made from it.

OptionGround Extra’s

There are two extra’s that I would like to point out. First, this broker is headquartered in the British Virgin Islands and registered in Belize. This may not seem to be a big deal but it means that at this time, it is accepting U.S. clients. The second extra I think carries some weight here is the early-out feature. OptionGround offers early out trading on all of its options. To check the current closed value of your positions are, go to “My Trades” and click on the early out icon. It will then show you what your option is worth at that time.

OptionGround Ratings

User Friendly: 12/20

This is a white label Tech Financials platform but not one like any I have seen before. Most feature an easy-to-read and use interface, this one I found to be hard to read and confusing. It is also limited in the number of languages available which cuts out a huge portion of the binary options community. Supported languages are English and English. This is a web-based platform so no downloads are needed and trading can begin as soon as funds are deposited. In regards to information on how to use the platform, especially information for new traders, there isn’t much. If you are looking for in-depth information on how binary options trading works it isn’t here. I also found that the live chat was not available, even after I signed up for an account.

Assets And Expiries: 17/20

The asset list at OptionGround may be the best thing about this broker. They are OK in terms of indices and currency pairs. They could have more stocks too. The best thing about the asset list is the commodities. This broker has the full list of internationally traded commodities. Expiries are OK as well. Most are intra-day but there are also some end of week and end of month options as well.

Commissions, Support, And Returns: 14/20

There are no commissions with this broker. The only fees I could uncover were for withdrawals. A $30 fee for withdrawals is charged after the first withdrawal each month. Support is there but not as good as others I have seen. Live chat is a joke, my first try resulted in an operator saying hello and then disappearing, my second try got no response at all-even after opening an account. Returns are average. The maximum return is hard to nail down because on one page it says max return is 85%, on others, it says 80%. From what I can see on the platform it looks like high/low options are running in the 60-80% range with most between 70-80%. The lower return options, like the 60-70% return options, receive a refund of up to 10%, other do not.

Deposit, Bonus, And Payout: 12/20

Deposits are easy, so long as you want to use a credit card, MoneyBookers, or wire transfer. The minimum deposit is $200 in account currency, USD, GBP, or EUR. Trading can begin as soon as funds hit your account. Some deposits may require proof of ID in order to comply with money laundering regulations. Deposit limits are $5K per day, $20K per week, or $80K per month. More than enough for most legitimate traders. Bonuses are week. The top bonus offered is 30% of the account up to a limit of $1500. This is much less than other, more established, brokers are offering. Bonuses also must be traded 40 times value in order to be eligible for withdrawals. Payout is quick. Withdrawals are processed within 36 hours but may take up to 14 days to post to your account.

Extras: 12/20

Extras include acceptance of U.S. traders and early-out options. This broker is still accepting U.S. clients which is a bonus for us if not for anyone else. Early out is available for all open positions. To check out the current value visit my trades section and click on the early out icon. Losing trades will close with less loss than holding the position to close and winning trades will close with a little less profit than if held to close.

OptionGround Overall Ratings: 67/100

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