CloseOption Review 2020

CloseOption is a binary options broker, based in Georgia, offering bets with 17 forex pairs and several crypto coins like Bitcoin, Bitcoin Cash, Ethereum and Litecoin. The maximum payout for the EURUSD pair is 80%, which is not competitive. Have in mind that maximum payout below 85% is not considered attractive.

  • Start year: 2017
  • Country of origin: Georgia
  • Regulation: None
  • Payment options: Bitcoin, Perfect Money, MasterCard, VisaCard, Webmoney, Wire Transfer
  • Minimum account size: $5
  • Minimum lot size: 0.01
  • Leverage: 1:500
  • Spreads: 0.02 pips on EUR/USD

CloseOption is owned and operated by the Organic Tech LLC Company – a company based in Tbilisi, Georgia, which says to be registered and regulated by the Central Bank of Georgia. And although that may sound good, the issue here is that the National Bank of Georgia does not regulate forex and CFD brokers specifically, as its sole responsibility is to oversees the monetary stability and the commercial banks in the country.

One of the main selling points of the CloseOption brokerage is that they use the exact same trading environment for demo, real and contest accounts. This allows traders to get comfortable with the platform while using virtual funds, which is a great way to ensure that the community is more profitable in the short and long-term. More brokerages should be going this route, because traders that win bring more clients, and stabilize the industry.

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