Redwood Options is pretty much like the new family on the block –they appear to be nice and interesting but you are afraid of making the initial approach.
Well, in the case of RedwoodOptions, fear not. It is a welcoming Web-based binary options trading platform and traders will not be inconvenienced by the need for any downloading.
The site has a sleek and inviting appearance, but it would be wise for a first-time visitor to give it a careful look-over. You will marvel at some of the features awaiting your discovery.
RedwoodOptions captured our attention immediately upon its launch earlier this year. From the outset, it has offered a very interesting menu of trading choices – binary, one-touch and 60-seconds. Even more, it has sought to distinguish itself from its many competitors among binary options trading brokers.
Consequently, there is also an intriguing Option Builder trading feature which allows a trader to customize his or her own option. With this tool, a trader is free to select all aspects of a trade. Unbelievably, this means you can pick the asset, the amount you want to invest, the expiry time and the risk/profit ratio. Obviously, this is not something a rookie or inexperienced trader should select.
In addition, look for the Open Platform feature and wait for your eyes to pop out. Seeing is believing, so we say no more.
The underlying assets include commodities, forex, indices and stocks, plus “pairs.” When we perused the site, pairs included such matchups as DAX vs. CAC (involving two major European market indices) and BNP vs. Barclays (major stocks). There is no doubt that the pairs feature will really capture the attention of new and veteran binary options traders.
RedwoodOptions offers two other features that are especially attractive to and important for more experienced traders.
The first of these, which is not for the faint of heart, is known as “Double Up” and, simply put, permits increasing an investment on an open position. With this feature, when a trade is nearing the expiry time and the trader thinks his or her predicted direction of the trade is on the mark, the trader simply clicks on “Double Up.” By doing so, the trader creates an entirely new trade with the same conditions for the current price of the asset.
The second one is known as “Rollover,” which more experienced traders can use as a stop/loss strategy. Rollover allows a trader to postpone the expiry time of a trade and is properly used when a trader thinks that his or her prediction will not be correct at the expiry time. Its use does require an additional 30% investment that, if successful, results in 30% higher returns. Certain conditions apply to its use.
The frequently asked questions (FAQs) feature is just superb. It is clear and concise, and the contents are organized into sections that offer users the kind of information they want when they want it. The feature includes sections on the trading platform, opening an account, depositing, trading and support.
An account can be opened with U.S. dollars or euros. The currency selection cannot be changed after the cost-free registration. Redwood accepts Visa, MasterCard, American Express, Maestro, Visa Electron and Diners Club credit cards. There are also wire transfer and eWallet options available.
Withdrawals can be applied to the same credit card that was used for deposits. Wire transfers also can be utilized.
Redwood Options is offered by Blue Sky Solutions, which has offices in Gibraltar and London.
CONCLUSION – RedwoodOptions is a rock-solid operation which provides an exciting array of trading possibilities. Newcomers can start their trading careers on this site at a slow pace and never want to leave it after they acquire a higher level of experience. It has it all and it is a great place for online binary options trading. One can easily imagine that this site, as it becomes more popular, is destined to be named a best options trading platform.
This binary options review was updated on September 16, 2013