Redwood Options Review
Redwood Options ReviewNovember 20, 2013
Redwood options is a fantastic new binary options broker powered by the Spotoption trading platform. Redwood offers 60 second options, up to 81% return on investments on standard digital options, and as much as 650% on one touch.
Secure Trading Environment:
This broker offers one of the safest trading arenas available online today for binary options traders. This is clearly seen when you complete the registration and a verification email arrives asking you to verify a few details. Immediately after that I received a phone call from the security staff asking me questions related to my identity like where I live and if I was the person who actually registered for the service. Finally, looking at the cashier it’s plain to see that it has a 128 SSL encryption layer which is pretty much the industry norm.
Registration was as very simple process that required me to fill in my details starting with my name and email and then my current address. I was also required to choose a password, which then allowed me to log in to my account.
Minimum Deposit and Trade
The minimum deposit amount available on Redwood Options is $/€/£ 200 and smallest possible trade you can execute stands at $/€/£10.
The asset index contains a wide variety of of stocks, commodities, indices, and Forex currency pairs you may expect. However, unlike other brokers it is displayed in a very easy and intuitive way. Some of the more popular assets include EUR/USD, AUD/
Bonuses, Promotions, and Incentives
Redwood offers an attractive first deposit bonus of up to 50% depending on your initial purchase amount. Additionally, paying customers also qualify for daily cash back bonuses offered on losing trades.
VIP’s Get More
Junior Member: Receive up to 20% welcome bonus.
Executive Member: Receive up to 40% in bonus cash.
Being a Redwood Options VIP means you qualify to get daily market analysis and reviews sent to your email. You also get a special educational E-book, a beginners guide to candlestick charting, a dedicated account manager depending on your skill level, video academy membership, risk management training and guidance, risk-free trades, and access to pro traders trading strategies.
Demo mode is not available on Redwood, however they do offer a trading simulator and 2 risk free trades for depositing traders only.
Training and Instructional Material:
This broker goes out of his way to make sure you have free access to all the educational material you can dream of including trading strategies, private consultations by dedicated account managers and analysts, and free webinars designed to gain you the necessary skills and make you a successful trader.
Trading Features and Types:
- Binary (Digital) Options: The usual up/down or above/below options where all you would need to do is guess the direction of the trend. If your underlying asset’s contract expires in the money, you would have a winning trade and proceed to withdraw if you met the bonus trading requirements.
- Option Builder: More suitable for the experienced trader, Options Builder allows you to customize your trading on the fly. How does it work? Simply select a contract, and an expiry time. Then you continue to choose your asset’s asset risk VS profit ratio, and how much you would like to invest. Option builder is all about empowering traders by allowing them the amazing flexibility only a top tier platform like Spotoption can offer.
- One Touch: This feature offers amazingly high payouts of up to 600%. Traders would need to buy shares not at market rates, which makes this extremely risky. The way it works is like this, if the price you choose is equal to or above a call option you win. Alternatively, if it falls below on the put option’s sale price, you also expire “in the money”. On the downside, all other scenarios mean you lose or expire “out of the money”, and this happens when you don’t reach the goal rate. One touch is not available for trading on weekends and even during regular trading hours its not available at all times.
- 60 Seconds (Including 15 and 30 Minute Contracts): 60 second options are also referred to as Turbo trading in the Tradologic-powered brokers. Basically we are talking about very short-term contract expiration times, and these have become the trade mark of the binary options industry with traders specifically looking for this feature.
- Open Platform: View your trading environment in full screen mode start getting access to real time performance indicators provided by other traders. This is as close to social trading as it gets, since you can actually see the win/loss ratio achieved by member traders in the community.
Most User Friendly Platform:
Redwood Options operates on the Spotoption platform, probably the best one available today for binary options traders wanting to invest. Rivaled only by Tech Financials and to a certain degree by Tradologic, this software is hailed by amateurs as well as professional traders to be the most accurate and fairest.
Mobile Trading: This broker does not offer mobile trading. So if you are looking to trade using your Iphone (IOS), Android, tablet, or Ipad, you will need to trade with Ubinary or Traderush.
Cashier: The banking section of the software offers a variety of depositing options such as Visa, Mastercard, Amex (American Express), Moneybookers, Cashu, and Maestro. Additionally, various debit and prepaid cards such as Visa Electron are also accepted. Paypal and Neteller are not accepted by Redwood.
Conclusions and Recommendations: Overall, this broker offers an amazingly user-friendly and professional trading platform. The customer service is impeccable and withdrawing money was never easier for me after I sent in my documentation. Granted, this formality is a bit tedious however it is only done once. This excludes Redwood from the scam category.
On the downside, Redwood does not offer a demo account and no signal service. Additionally, it is limited to English speaking traders only. So if you are from the USA, Canada, United Kingdom, Australia, New Zealand, or Singapore, its easy sailing. Traders from France, Germany, Italy or Spain will need to open an account with a regulated CySec broker such as Anyoption.