- Reality unfolded
- Social trading option not available
- Economic calendar not available
- The e-wallet option not offered
- Does not provide free educational resources
- The deposit amount is huge
- Free signals not provided by Options Bank
- Unrealistic returns
Are you about to sign up with Options Bank? Well, you need to wait and read our review first. Options Bank is a binary broker operated by OB Marketing Solutions. This broker is not regulated by any of the recognized authorities.
Options Bank offers around 100 assets which are quite less in comparison to the assets offered by its counterparts.
The social trading feature is offered by most of the reputed brokers, but this is not the case with Options Bank. The truth is that the social trading feature is of great assistance to the new traders because they get a chance to replicate the trades of the expert traders.
It is very essential for the investors to monitor the market moving events. This is why the investors need the economic calendar so that they can monitor the events without a problem. However, the economic calendar feature is not available with Options Bank.
The e-wallet is essential if you are planning to trade binary options using a brokerage. The biggest shortfall of Options Bank is that it does not offer an e-wallet. This is why it is an issue to transfer money online.
Most traders prefer trading platforms that allow you to develop your grasp on trading by providing the relevant educational material. However, Options Bank does not offer any free educational material.
This is why it may not be useful for traders who are new to the trading world.
Options Bank offers three different account types. This includes the Micro, Standard and the Pro account. If you decide to go for the Micro account, then you will have to pay a minimum deposit of about $10,000.
Now, the new traders cannot afford this massive deposit amount
Secondly, the free signals are available through Skype for the Micro account only. Ideally, the free signals should be offered for all the account types. When the signals are available, then the trader feels more confident about a trading platform.
Options Bank does offer a demo account but it is essential that the platform should give detailed insight about the features that are offered through the demo account.
Most traders are desperate to get high returns. Options Bank promises a pay-out of about 90%. Well, this is truly an exaggerated figure because the margin for loss is always there when you trade binary options. As a trader you should not get carried away by this pay-out.
When you are about to choose a binary broker, then you need to define your expectations. If you feel that the platform is setting unrealistic expectations, then this is a clear indicator that they are taking you in the false direction and you should avoid such a broker by all means. This is why you should not go for Options Bank in the first place.