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Full Review about PresitgeOption Broker
- Established in: 2020
- Minimum deposit: 250Eur
- Minimun Trade Size: 10 – Short Terms | 25 – For The Rest
- Jurisdiction: Treppides Tower, 9 Kafkasou Street, Aglantzia,5th Floor, Nicosia, Cyprus
- Licenses: CySEC License No – 296/16 , ESMA , MiFID
- Mobile Platform: Yes
- App: Yes (Android and IOS)
- Live Chat: Yes
- Languages: English, French, Dutch.
- Deposit Methods: Deposit Methods – Credit Card ( MasterCard, Visa, Diners Club, Maestro and JBC ), Skrill, Moneybookers, Bank Wire.
- Options refund; Risk o meter (trader can choose lower payout but can get some % back)
- Profits: up to 88%
- Free Signals: Yes
PrestigeOption accepts traders only from the following countries: “United Kingdom, Ireland, New Zealand, Germany, Austria ,Hungary, Switzerland, Luxembourg, Sweden, Netherlands, Norway, Finland, Denmark, Malta, Bahrain, UAE, Saudi Arabia, Oman, Kuwait, Qatar, Hong Kong, Brunei, Taiwan, Iceland, South Korea, Bahamas.
Liechtenstein, Bermuda,Cayman Islands,Gibraltar, British Virgin Islands, Faroe Islands, Spain, Slovenia, Czech Republic, Aruba, Barbados,Slovakia, Lithuania, Estonia, Poland, Trinidad and Tobago, Croatia, Malaysia, Panama, south africa
Designed with the trader in mind, Prestige Option has proven to be the most innovative broker in binary options for the couple of months it has existed. It is a brand of Lead Capital Markets Ltd, which holds a CySEC license number 296/16 and is also registered with the European Union’s ESMA and MiFID. Prestige Option’s popularity has largely grown due to its superior and highly intuitive trading platform that opens up new possibilities to traders in the binary options market. Its customer support is also unrivalled in the industry, while its general product offering is a cut above the rest.
Review of PrestigeOption
- Smartphone and tablet responsive interface
- Available withdrawal at any time without any penalties
- Available insight into pre- determined potential loss
|Support Types||Support Phone, Live Chat, Website Form|
|Languages||French, English, German|
|Minimum 1st Deposit||$250|
|Minimum Trade Amount||$25|
|Maximum Trade Amount||Unlimited|
|Bonus||up to 100% Deposit Bonus|
|Free Demo Account|
|Account Types||Bronze, Silver, Gold, VIP, Platinum|
|Deposit Methods||VISA, Master, Maestro, Wire Transfer, Bancontact, CashU, iDeal, WebMaster, Qiwi, Skrill|
|Withdrawal Methods||VISA, Master, Maestro, Wire Transfer, Bancontact, CashU, iDeal, WebMaster, Qiwi, Skrill|
|Expiry Times||30sec, 60sec, 2min, 5min, 30min, 60min, 24h, end of day, week, month|
|Option Types||High / Low, On Demand (60 Sec), One Touch, Range|
|Account Currency||USD, EUR|
|US Traders Allowed|
- Licensed by CySec
- No maximum investment
- not accept the traders from the US
Prestige Options is a relatively new Binary Options Broker who made its appearance online in 2020. It’s supervised and licensed by CySEC and uses a progressive and cutting edge trading platform from TradeSmarter; the leading platform provider in the market. Their platform and interface is user-friendly, providing a simplified trading environment for all traders even the most inexperienced.
Prestige may not have a lengthy online reputation, but they have established a higher payout rate than their rival trading brokers. Even the most novel traders can receive an 85% return on their investment. Providing traders with over 100 different global assets, various trading options, and several expiry times, allows traders the ability to diversify their portfolios and turn every trade into a gain.
Although Prestige’s trading services are not available in the USA, they do offer their services to all other countries. Making it one of the very few trading brokers to offer their services to almost every country.
Prestige Account And Bonuses
Traders have access to several account options when they choose to become a trader. Each account offers special bonuses and features allowing traders to customize their experience. The first account option is Bronze and offers traders a 25% bonus. If traders decide to move up to silver they receive a 50% bonus and access to basic training videos, a weekly market review, and two free training sessions.
The next level is gold, where traders will get a 75% bonus, two weekly market reviews, advanced training videos, and access to 3 training lessons. At the titanium level, traders will get a 90% bonus, a weekly market review four times a week, advanced training videos, and 5 free training sessions. Plus, titanium level members get a 3% higher payout.
At the VIP level, traders get the highest bonus of 100% and a 5% higher payout. They will also have access to unlimited training sessions, advanced training videos, special concierge services, and daily market reviews. Afterwards, traders can eventually reach the platinum level by invitation only.
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Prestige offers several different trading options for traders. Having over 100 global assets such as MacDonald’s, Twitter, and Ebay. They also offer various indices and commodities to choose from. Traders also have the ability to trade pairs if they want to step away from traditional trading. This is where traders decide which company is going to do better than the other before the expiry time ends. Pair trade examples consist of established companies like Amazon vs eBay and Twitter vs Facebook.
Prestige also offers other forms of trading like high or low trades, startegix, and turbo options. In addition, the trading process is broken down into a three-step process making it easier for traders at all experience levels. It starts by choosing the asset, picking the desired expiry time, and then deciding the markets direction.
Besides the variety of trade options, traders also have access to more expiry times then competing trade brokers. They offer short-term expiry times between 30 to 60 seconds up to 24 hours. For trading in the long-term, there are expiry times ranging from a few days to several months.
Prestige Options Features
Prestige Options offers traders with more than just a reliable trading platform. They also offer educational resources to aid every trader in making all of their trades profitable. Every account holder will be up to date with essential economic information and news that’s at their disposal 24/7. Even more so, traders have access to free training sessions, tutorials, training videos, and how to guides.
By using Tradesmarter as a platform provider, traders will have access to many different trading innovations like asset charts. These charts provide statistical facts to traders allowing them to make a better informed decision on their trades.
More over, there are no software upgrades or downloads necessary, unless traders want to trade on the go with the mobile app. While the website has several different currencies and 3 different languages, the mobile app has 14 different languages to choose from and a broader currency options. The website has a smart phone and tablet responsive interface allowing for trading no matter what device traders are on.
The Withdrawal Process
Prestige allows traders the ability to withdrawal their funds anytime without incurring any penalties. There is no minimum withdrawal amount and there are no fees to withdrawal money from a trader account. However, there will be a small processing fee applied to traders who withdrawl their money using a wire transfer.
Withdrawals can be made using the same credit card that was used to deposit money into the account. Funds deposited onto a credit card cannot exceed the initial amount deposited with the credit card. Should the amount exceed the initial deposit amount, the remaining amount can be transferred to the traders bank account.
Once a trader has requested a withdrawal , it takes approximately 48 hours for the finance department to verify the withdrawal form. Afterwards, it’ll take between 3 to 5 days for the trader to see their funds in their account.
Traders can feel confident knowing their deposits are secured and protected through Prestige’s encryption software. There is no cap on how much a trader can deposit into their account. However, in order to begin trading, traders must deposit €250 into their account. Deposits are made in Euros and will be converted into the traders currency using the International Exchange Rate.
Prestige offers several different deposit methods including wire transfer and credit cards. Deposits can also be made using certified e-wallet online transfers through Skrill, Moneybookers, CashU, Bancontact, and iDeal. In addition, Prestige does not charge any fees for using any of the deposit methods.
Prestige Options Customer Service
Prestige options strives to offer all of its traders with the support and help they need. Every trader has access to experienced advisors via email, online chat, and by phone 24 hours a day 7 days a week. In addition, they offer professional training to all traders for free, allowing traders to learn the ins and outs of trading without having to pay a dime.
Traders will also have access to their own account managers who are available to help them when they’re needed. These account managers can help traders with any questions or concerns they have on their account, aid in the withdrawal and deposit process, and help traders if they have trouble using any aspect of the website.
Prestige Options shows their appreciation to their loyal customers by offering them the refer a friend incentive. Any and all customers who refer a friend to Prestige will receive a bonus in their account. In addition, their friends will also receive a $50 bonus in their account just for becoming a member. There is not limit on how many friends a trader can invite and the bonus potentials unlimited. Friends referred to Prestige must make their first deposit before bonuses deposited.
In addition, the bonus amount a trader receives for referring their friends depends on the amount of their friends first deposit. For a first deposit of $100 to $250 traders will receive a $50 bonus. Deposits of $250 to $500 traders will receive $100 while deposits of $500 to $2000 will get a $150 bonus. Any deposits made above $200 will give the trader a $200 bonus.
|No. Of Assets:||55|
|US Traders:||Not Accepted|
PrestigeOption is a brand of Leadtrade Ltd., which is a Cyprus Investment Firm (CIF), regulated by the Cyprus Securities and Exchange Commission (CySEC) under licence number 296/16. Their office address is Treppides Tower, 5th Floor, 9 Kafkasou Street, 2112 Nicosia, Cyprus and the company is also registered with the British FCA, the Italian CONSOB and the German BAFIN among others. Leadtrade Ltd owns and operates other binary options brokerages such as TopOption and OptionsClick.
Is PrestigeOption A Scam?
This brokerage is very new (launched earlier this year) so it’s too early to tell. The owning company is regulated by CySEC and registered with several other authorities across Europe so at least for now, things look good for them and we have no scam suspicion. Keep in mind that “registered” does not equal “regulated” and getting a CySEC licence is not the hardest thing in the world, so even if we don’t suspect them of any wrongdoing at the moment, we recommend caution (as with all brokers).
Editor’s Note – Why PrestigeOption Doesn’t Suck In 50 Words?
Apart from the regular binary options platform (with small charts and limited features), they offer a Pro version. Once you click on it, the chart expands on your entire screen and things start looking a lot better (more on this later). This is definitely an improvement and is part of a new trend seen lately, where binary options brokers are starting to give more importance to the trading part of the business.
Why PrestigeOption Sucks In 50 Words?
They offer a Social feature, where you can follow other trades. This doesn’t suck in theory, but in practice, the trades on the Social Wall scroll too fast and there’s no option to quickly copy a trade, so you will have to memorize the asset and price used by the trader you want to follow and then manually open the same trade. More than that, there’s no information about what expiry the trader used and some of the information is outdated.
Should I Open An Account With PrestigeOption?
This new brokerage operates on the TradeSmarter platform and although SpotOption is the “weapon of choice” of more than 70% of binary brokers, I don’t think TradeSmarter is worse. All the regular features are present and on top of that, you can use the Pro version (no special account needed or other type of requirements). Once this version is activated, the platform expands on your entire screen and you can choose your chart type (line, candlesticks, etc.), you can change the timeframe of the chart and you can even add technical indicators such as MACD, SMA, RSI or Bollinger Bands. The good thing is that the entire platform remains simple and easy to use, so you won’t be overwhelmed by tons of stuff happening on your screen.
Just like the platform, the website is well organized and kept clean but some weird stuff kept happening: whenever I tried to scroll down, the page kept jumping to the top. This wasn’t a problem on all pages, but most of them; anyway, after enough scrolling down, the pages eventually stayed there so looks like perseverance beats internet bugs. If this is a problem on my side, well, that’s not a big deal, but if it’s on their side and more people experience it, they need to fix it ASAP.
This brokerage seems to be focused towards the more “prestigious” clients because their lowest account is $500 and their highest (Platinum) requires you to deposit more than $100,000 (. ). Now I don’t know about you, but to me that sum is gigantic and if I would have it, I surely wouldn’t deposit it in a binary options brokerage, even if it’s regulated. To be honest, their offering as a whole is nothing out of the ordinary and I don’t really understand why the lowest account is 500 bucks when the average in the business is 200 bucks. As for the VIP account (over $50,000 deposit), the advantages you get are not worth it in my opinion: economic info, daily market review, trading videos (among other stuff).
The advanced features of the TradeSmarter platform are Ok, the website is nice, the trading conditions are normal but overall I don’t see them as a major player on the binary options scene. For now Prestige Option is just another new brokerage, a bit on the pricey side and without something spectacular to put them ahead of the pack.
The brokerage was just launched so there are no complaints so far. As always, we will keep monitoring and will update this review when more time passes or when complaints start to appear.
The Bonus starts at 25% (for the lowest account) and goes up to 100% for the VIP account ($50,000). The bonus for the Platinum account (more than $100,000) will be discussed with an account manager. The best thing is that Prestige Option’s bonus is Pending until the required turnover is reached (the client will see a progress bar on the platform and once it fills completely, it means the turnover has been reached and the bonus can be withdrawn). This is the best way to approach the Bonus problem because this way the clients’ money is always available for withdrawal.
The required turnover according to their Terms and Conditions is $10,000 (. ) for each $1 received as a bonus and you have to reach it in 90 days from the day you received the bonus. In other words, if you receive 100 bucks, you will have to trade 1 million bucks in 90 days if you want to withdraw that initial one hundred. Any withdrawal of a client’s own funds will cancel the bonus.
The processing time is 48 hours and additional 3 to 5 business days will pass until you will receive your funds. Personal IDs are required due to anti-money laundering policies. The withdrawal methods are the usual ones: credit card, wire transfers and certain e-wallets (WebMoney, Skrill, etc.)
Regulation, an advanced trading platform, AutoChartist tool offered for free and a Pending Bonus structure. I would like to mention here the $10,000 for every $1 received as a bonus; it’s something that I haven’t seen before but it’s definitely not a good thing.
Prestige Options Ratings
User Friendly 16/20
The website is available in only 3 languages (English, French and German) but I guess that’s enough because they are widespread languages. The platform takes a bit longer to get used to compared with SpotOption but that’s only because it offers more features. U.S. clients are not accepted.
Number of assets and expiry times 15/20
The trading basket is composed of 26 currency pairs, 41 stocks, 6 commodities, 16 indices and 2 pairs (it’s not the most I’ve seen but it’s definitely enough). The expiry times start at 30 seconds (also 60 seconds, 2 and 5 minutes) as well as longer expiries such as end of day and even Long Term.
Commissions, Support and Effective return 16/20
There are no commissions for opening an account and Prestige Option doesn’t charge fees to withdraw (bank wires may incur a fee). Support was surprisingly helpful but gave me different information than their Terms and Conditions; the effective return goes up to 80%.
Deposit, Payment and Bonus 14/20
Min Deposit is $500 and can be made via credit cards, wire transfers and e-wallets (Skrill). Withdrawals are made via the same methods and take between 5 and 7 working days (including the processing time). The bonus works on a Pending model (it will only be released after the turnover is reached) but the trading volume is huge: $10,000 for each $1 received as a bonus. Also, this turnover must be reached in 90 days (which I believe is impossible).
Website Extras 15/20
Autochartist, candlestick charts, technical indicators and Regulation are positive extras. On the negative side we have the huge turnover required before you can withdraw the bonus.
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