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Redwood Options Overview

Redwood Options
  • Redwood Options
  • Bonus: up to100
  • Options Profability : 70-81%
  • Rating: 6.4 / 10

Screenshots

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Basics

Broker Name: Redwood Options
Platform: SpotOption
Founded: 2012
Bonus: up to 100
Return/Refund: 70-81%/1-10%
Redwood Options Overview

Features

No. Of Assests : 60
Regulated : No
Demo Account : No
Minimum Deposit : 500
US Traders : Not Accepted
Read Users Reviews

Review Last Updated 2016-06-19 08:02:31

Editors’ Note – Why does Redwood Options Suck in (or more than) 50 Words?

I didn’t have to look long to find something that sucks about them: *Edit, last time it was the Daily Market Review that didn’t make sense, this time it’s a webinar confusion. I was just going to say how great that they finally fixed the Market Reviews until I scrolled down and saw this “How to Trade Using the TradeRush Platform @ 12 2015.06.24”. TradeRush? I had to check my eyes to see if I came to Redwood Options or TradeRush… I know they both share the same virtual address but this is strange. By the way, it’s from 2015 06! In the time of writing this, it has been a year. No one updates the site?

 

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Why doesn’t Redwood Options Suck?

I like the design of their website, although it is very similar to other brokers. What makes the difference is the fact that it doesn’t seem clogged. Moving on from the design, they offer 81% payout on binary options, which is quiet good in relation to other brokers. Another plus is that their live chat was actually live, although support didn’t solve the mystery of the “TradeRush” sneaking in their webinars… At least they didn’t beg me for a phone number or email address! All in all, this is not a scammy broker, they have been business for a long time without major issues. But they aren’t a great one either.

 

 

Redwood Options Review – Another “Leading Binary Options Broker”

Redwood Options is owned by Hampshire Capital Ventures Ltd. Their new virtual address is Cavell House Stannard Place, Crispins Road, Norwich, NR3 1YE, the old one used to be: Strada Mason Complex, Nr 25 BI Stoney Gro The Valley, Al-2640, Anguilla. I guess they are on the bandwagon of brokers using virtual addresses to make them look like a UK business.

 

They consider themselves a leader in this industry, just like almost any other broker out there… nothing new here and throughout my stay on their website, I realized this is the main drawback of Redwood: they don’t bring anything new but they want to be a leader of the industry. They were around for several years but only opened for the large public in March 2013 according to Yahoo Finance. I expected them to come out with something fresh, new and innovative but that is not the case and they even use the same old and overly used slogan “We focus on what really counts. You…”

 

Speaking of being the leader in the industry, did I mention that maintenance seems to be an issue on the site? I tried three different browsers, IE, Chrome and Firefox to read the FAQ but only the questions under the “Platform” section were clickable. Now that I am complaining, let’s move on to the minimum deposit: 500$ for the standard mini account is way too much! Okay, at least the minimum investments are low, 10 for long term and only 5$ for 60 second options. Lucky you get some starter webinars too for that price, oh wait that reminds me, are these TradeRush or Redwood options webinars? You don’t even want to know the dumb answer I got for the webinar broker name confusion. I suppose these “errors” occur when you copy paste too much info, just like the overly used slogan we mentioned above. Let’s just move on…

 

On a more cheerful note, I like the payouts they offer and how they make use of the SpotOption platform which is widely known for its ease of use and high level of functionality. It is true that a lot of shady brokers use this platform, but I don’t think “shady” applies to Redwood Options. Everything about them is easily found and they don’t try to keep normal things a secret. When it comes to policies, they seem honest in their terms and conditions. For example, regarding that their financial information made by them (like account managers etc) and their site might not be accurate and that you probably should be advised by someone with no conflict of interest. On the other hand, the bonus terms are not entirely clear and not in accordance with CySEC but then again, Redwood Options is not regulated.

 

Taking a look at their educational material, I found some good tips and many video lessons, but only 2 of them are available to users who don’t have an active account. Anyway, the information contained in those 2 lessons is good and can give you an overall idea of how the market works. Without considering them a low-quality broker, overall Redwood doesn’t stand out in any way and they don’t bring any improvements to the Binary Options industry.

 

 

Is RedwoodOptions a Scam?

Redwood has been around for quite a while. They may not be a scam but they certainly aren’t one of the more respectable brokers  The only real problems I see with Redwood Options seems to be connected with accepting bonuses due to their non-CySEC bonus terms.

 

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 Redwood Options Complaints

It’s quite an easy task to search for Binary Options Brokers complaints – Go to Google or whatever browser you’re using, search for RedWood Options complaints, scam, fraud etc and start searching. The search part is the easy one, now you need to dig dipper into the web and look for real comments.  We couldn’t find any unsatisfied customers. Most complaints are regarding bonus lucks. If you don’t read the terms and conditions, withdrawals will be problematic or impossible if you want to pull out before you have reached the required bonus volume.

 

Redwood Options Bonus

Their Bonus differs depending on the deposited amount. The mini account at 500$/€ is rewarded with a 25% bonus but the bonus rate grows if you deposit more. For example, a 100% bonus is offered to Platinum members with a 25,000 deposit. Once you have accepted a bonus, you cannot withdraw your deposit or future additional deposits either. Unless you reach a certain volume of trading of either 30, 40 or 50 times the bonus. It’s unclear when each of the steps is applied. If a bonus is a refund however, the volume is 20 times the bonus amount.

 

Redwood Options Withdrawal

You will have to provide some identification documents in order to withdraw funds from your account, you will not be charged any fees for withdrawing using a credit card, but you will have to pay $30 for bank wire withdrawals. They will process the request within 3 business days and another 5 to 7 business days must pass until you will receive the payment. You can’t withdraw earnings below 100, whichever the currency, which could be a problem for some traders.

 

 

Redwood Options Ratings

User Friendly 12/20

The Spotoption platform brings the user easy access to all features and improved functionality. The website is offered just in English which is a major drawback for a lot of customers. The FAQ does not work properly and you can get confused due to copy pasted material on the site. Moreover, the bonus terms are not clear and user friendly, especially for a beginner.

 

Number of assets and expiry times 13/20

The advertised assets under “Asset Index” are many, 114 stocks, 32 currencies, 9 commodities and 37 indices. Unfortunately, I could not find that many assets in the trading platform itself. From what I can tell, there are around 28 currencies, 15 Stocks, a handful of commodities depending on what type of options you want to trade and around 5 indices. I suppose the “Asset Index” was copy pasted too. The expiry times are enough to choose from, ranging from 60 seconds to an hour or to the end of the day, week, month and next month. You can make use of the Option Builder tool to add more flexibility to your trades and you can also use One Touch Options, Pairs (only Gold VS Silver), FX/CFD and ladder.

 

Commissions, Support and Effective return 16/20

There are no commissions in order for you to register but you will have to pay a $30 fee if you withdraw using bank wire. Credit card withdrawals are free of charge. Their customer support is quite polite and helpful and the effective return goes as high as 81% so the overall conditions are competitive.

 

Deposit, Payment and Bonus 10/20

The minimum deposit is $500 and can be made using credit cards or wire transfer (some fees may apply to wire deposits). The payment request will be processed by Redwood within 3 business days and it will take an additional 5 to7 business days until the money will reach your account. For the exact size of the Bonus you will have to check under “Account Types”.
The required volume to be generated before withdrawals differs from case to case and it’s not clearly stated in their terms and conditions. You probably need to ask your account manager about it. Remember that once you have a bonus, you cannot withdraw your deposits until you have reached whatever the volume they demand from you!

 

Website Extras 13/20

This is a weak category for them and although they are not exactly “extra”, the Video lessons are worth 12 points.

 

 

Redwood Options Overall Rating: 64/100

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28 Responses to “Redwood Options”

  1. Betow

    it’s another way to Play roulette, but not with 200-300-4900% win, but just up to 180%. In their ads, if you stick to your choice, you have to win the 3rd or 4th time, I lost 6 times in a row, sticking to their rules, in no way recommendable! AND There Was NO BONUS, i laid in 250 bucks and got nothing, butr I’m cured of that scam now!

  2. zeke

    I put in 250 & now have 133.
    All losses are my fault for not understanding the game enuf.
    Educating myself has always worked in the past.Educating myself in trading should produce or at least improve my chances.
    I will learn.

    • Kevin Lee

      I appreciate your review Zeke. It’s good to acknowledge that sometimes the losses that we have are our fault, not the platforms. Trading currencies isn’t a simple game, it takes diligence and patience. I’m considering taking up Redwood Options to trade with. Hopefully there aren’t any issues. Once again, I can’t tell you how much your review really means to me.

      Kevin

      • Roy Sheen

        They are all a bunch of crooks. I joined the 1% club and they blew my account the first day. Sorry bunch of assholes.

    • Steve

      How are you going to educate yourself to these odds? When you lose, you lose 100%; when you win you win 80 or 84% ? You have to be right way more than wrong, JUST TO BREAK EVEN! You can’t win in the long run. You will lose all your money here. And that’s if its a fair game. In this unregulated agency, you don’t know if it’s even paying fairly! And ask for your money out of your account occasionally, see how that goes!

      • Kevin Lee

        Hi Steve,

        There are many ways to educate yourself. For one, you can learn different methods of trading forex and use that to trade binary options i.e. fibonacci retracement, support and resistance lines, etc. Use those to trade, and with practice, you’ll beat the odds. That’s what i’m doing now and so far it’s paying off.

        • Chin

          What other techniques would you recommend to learn , that I can use in binary?
          Thanks

  3. William

    Can this broker be trusted?Anyone here used them please let me know.

    • Steve

      Before I invested bigger money, I opened an account and funded it. I then asked for my my money back. THEY WON’T refund! They keep being nice and saying they will, but NEVER DO! You will probably lose ALL your money here, or they will just keep it all anyway!

  4. steve

    after four trades out of five went bad due to being told what to do by a broker that seemed like he needed a good holiday.I complained to livechat and my account was to be reinstated to $1,500 the next business day (mon) that was four weeks ago now and I am still getting the evasive run around and time wasting crapola this joint is a steaming pile of crap if you want to lose you’re money they just do not have the time for average joe and their brokers and management have communication issue’s with their customer support Wrong Way Go Back

  5. Joe

    After speaking with a broker they made it sound so easy to make money but found they were very pushy about me investing $10,000 which raised alarm bells & when I raised my concerns they hung up on me.

  6. Alan

    I have traded with Redwood twice since May 2012. Both times I began with $250 deposit (debit card) and both times I withdrew $250 (via debit card). I was up and down during my trading both times, ( which is normal in my opinion), and once I got down to my initial deposit, I chose to withdraw so as to ensure I didn’t lose any money. My only complaint with Redwood is that you can only withdraw up to your deposit amount via the same way. If you wish to withdraw more than your initial deposit, you must withdraw via bank transfer. That might not be a problem if you bank with a worldwide or even major US bank. However I bank with a local credit union and a transfer there must first go to a major bank, then be sent to the CU under my account info. The withdraw form on Redwood does not list the additional step required for my CU, so I would suggest you contact Redwood accounting prior to depositing and trading if you bank with a CU in the US.

  7. jamaal

    I haven’t tried redwood options yet but I am going to find out if they can be trusted. When and if I do make money … f the bullshit ima save the site in my favorites.. email me anytime….wadedealer1@yahoo.com

  8. jamaal

    Point blank i will not sell u on anything! any links.. nothing! this is to tell if it works or not! give me a couple weeks and I will try it out! if they are full of crap. or are they legit? time will tell!

  9. Max

    They will not repay my balance ? .. I think they are a scam!!
    They started all the paperwork .. (interesting that) as to deposit is super easy .. but to get repaid wanted photo id, utility bill, front & back of my credit card.. then they kept emailing saying they couldnt read it … I kept rescanning & resending … now they wont reply to emails.. they owe me $3000 ..
    Ive emailed them everyday for 2 weeks .. live chat just refers me to accounting … accounting has no phone number .. be very careful…with this one ..

  10. Watching Quietly

    Redwood and the likes of it are promoting stuff online and luring people to them and playing dumb.

  11. Mousa

    Be very careful, they continuously persist you to increase your deposit and want you to sign bonus agreement online very quickly. Then they will send you some trading signals which will be failed a lot. After, your dissatisfaction you want to close your account and withdraw your money, but you can’t, because they’ve got your sign for bonus agreement before. They wont send you any more trading signals, and also you can’t withdraw your money. In fact they use your money and you are loser. Don’t enter to this cheating system.

  12. King

    Has there been anything new with this broker? scam? legit?

  13. Richard R.

    I have been trading with Redwood for about a month now and have had nothing but success. I feel like most traders lose trading binary options because they go in with no strategy. If you make 5 bids for $100 a piece, yes you will lose your money because you have no way to cover your losses without winning multiple times in a row. There is a solid strategy for this that I use that has allowed me to make far more than a full-time income. I would be happy to share these strategies with anyone at absolutely no cost. I would like to help newer traders succeed in this amazing opportunity. To do so I will be making youtube videos. If you have failed because of a lack of strategy please stop calling good opportunities a scam. You turn off people looking for real opportunity and it does exist. Like one individual said educate yourself first. You will do great if you go in with the correct approach. Knowledge is key in any industry.

    • Marlo

      What is your winning strategy? What is the title of your youtube videos?

      Thanks.

    • Frederic

      Hello Richard,

      Read your above review and I’m fairly new with some strategies of my own. Would be great to get some advise and learn your strategy if your willing to reveal any successes for myself to follow!)

      Look forward to hearing back from you,

      Frederic

  14. Jennifer

    Being in the US and theres not much to choose from, I like Redwood Options. They’re customer support is good compared to others. I had a problem with firefox and trading on their website. They understood and refunded me my initial deposit because of this without a hassle. Point is, if you want to get your money do not get a bonus, don’t trade without a strategy that you’ve backtested for a while, and don’t follow brokers signals. None of these brokers actually want you to win, that is the truth with ALL of them. If you don’t have common sense trading is not for you in general.

  15. Rick

    I lost all but $4.50 on Redwood Options. Most of it was lost on one minute options. I bet on trends based on graphs from the last few minutes and found that graphs change quickly when your money is at stake. I found an account with an upword trend where the public had a 60 percent or higher Put. I doubled my bet on every loss was supposed to be guaranteed to win on the 5th bet. It didn’t. I saw changes in the graph that can only be accounted for by fixing the computers to steal. Internet Explorer does not keep you updated and they have glitches that cause the screen to blank out with Chrome just before a bid ends – of course I lost. Sometimes my bid was green right thru the bid into expiring and then it came back with a loss, but the price showed I should have won. Too many things going wrong not to suspect it was rigged.

  16. jose

    no support and everytime i had an issue they say to email technical support i never get a response from them when i ask specific questions they say they would call me back………another funny thing is they are supposed to be based in great britain,but every time i speak with one of them ,not one of hem ever had an english accent..
    i got screwed folks hey i know the bussiness you win some you loose some.worst of all is there expiary times sucks…….they took my money to pay another thats the game .never again and im sure you got some straight up binary brokers out there ,just be carefull where you put your money………

  17. mike

    Don’t trade at Redwood. They change the market price and make you lose money. Nobody can make money Here.

  18. hector

    Companies owned by Bluesky (ex. cherry trade, and redwood) let you deposit by credit card and once your account is positive, they close it and refund your original deposit. After I received my refund, I got an email stating that the only deposit method available is wire transfer due to “security reasons”….. OKAY, so I opened another account and “lost” my money….. guess what, no refund given due to “security reasons”. Simply put – scam and a waste of money. Hope this helps a couple people out.

  19. Lisa

    I had Redwood Options – 2 account managers there got me to deposit $15,000 and had me invest in companies they selected and said that they were secure trades, and I would get back the money if I lost it. Well I lost most of it and never got any back like they said. They only wanted me to deposit more. I think everyone should be leery of these overseas binary companies. They are only interested in making money for themselves.

  20. Brian pajak

    I am new to the trading game. I have lost quite a bit of money already.
    I certainly would appreciate it if you are willing to share your strategies with me.

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