A newcomer to the binary options market, OptionRally have managed to distinguish themselves from other binary options brokers with the introduction of their iPhone and Android mobile trading apps. These apps are the world’s first official mobile binary options trading platforms made for use on android Smartphone, iPhone and iPad.
We tested out the OptionRally trading platform extensively during our OptionRally review, and found that in terms of trade execution, the company’s platform functions quite similarly to most other binary options trading platforms. In a standard trade execution, you can choose between call (up) and put (down) options, and can set the expiry time easily within each option. You can also choose between a grid view or a list view of all available options, depending on your personal preference.
If you aren’t sure what to assets to trade, you can browse the top buttons in the platform to see what is offered, or press the down arrow next to each asset listed in the main part of the platform to see a full list, and to choose each option individually.
OptionRally also offers the standard One Touch and an OptionBuilder which allows you to further customize each position. What really struck us during our OptionRally review, however, was the company’s iPhone trading platform, which is a rarity among binary options companies. Although we didn’t test it personally, we were impressed to see that this relatively new binary options company has set the bar for its competitors in the mobile binary options space.
One thing that we noticed nearly immediately when we started the OptionRally review was that the Asset Index provided on the site offers a wide range of stocks, currencies, commodities and indices from which to choose. Over 20 stocks are available, as well as around 15 currency pairs and a similar number of indices. As with all binary options platforms, not all assets are available at every time, such as stocks which are based in the US that cannot be traded on a binary options platform when the US market is closed.
In addition to offering a rather substantial education center to help traders better understand the process of binary options trading, OptionRally has a short demo video that really provides a very clear insight into the trading arena. The website also offers daily analysis of major currency pairs and other assets so that traders can get a full sense of the markets before entering their position. Analysis of currency pairs also includes charts, which can be helpful for technical traders who are looking to test out binary options. This is an advantage not offered by most other binary options companies.
OptionRally is one of the few top binary options brokers that offers customer support via email, chat and phone. During the course of our OptionRally review, we tested the company’s chat support and phone assistance. We were impressed that when calling the company’s UK phone number we were answered by a live representative in under 1 minute. Chat support, however, was an entirely different story. We tried to connect with the company’s chat support on several occasions, and were never able to reach a live representative.
Ease of Use
On the whole, we found OptionRally extremely easy to use, though we would have liked to have seen access to a practice account, which can be an invaluable tool for new binary options traders. There’s no question that the daily analysis is helpful for traders at all levels, and that the straightforward platform can help traders place their trades quickly and easily. What was also interesting is that while some of the best binary brokers offer all assets even those that are not available, OptionRally’s system removes assets that are not available for trading during off hours, so traders won’t be confused by irrelevant options.
Although it is a relatively new company, OptionRally has clearly put a lot of thought into making its services practical for both new and experienced binary options traders. A quick registration process, easy funding and withdrawal methods and decent phone support make the company stand out, though we hope to see stronger chat support next time we undertake an OptionRally review.
Date posted: September 13, 2014