It’s hard to believe that it was as far back as 2013 that Redwood Options first emerged and began making a name for itself. Suffice to say, in the world of binary options, time really does fly! But what’s really impressive about Redwood Options is that even with such widespread and ferocious competition as is around in 2017, they’re still managing to hold onto their reputation for delivering the goods.
At the time, the Redwood Options approach to binary options came as something of a surprise. This was an era during which it was all about the bells, whistles and blinding new customers with a world of wild and wacky features and functions. Nevertheless, Redwood Options made the decision to entirely cut the crap and focus only on what really mattered to traders. They openly admitted that they did not want to bring anything revolutionary to the table – they simply wanted to do what everyone else was doing, only a whole lot better. And when you consider how successful they’ve been over the past four years, you can’t help but feel they were definitely on to something.
Trading Types and Payouts
Simplicity is the name of the game when it comes to the trading types available, which cover the vast majority of trading styles and preferences. Standard binary options are available in the form of Redwood’s Digital Options, while the Options Builder is better for pros looking to take maximum control of their trading. With this facility, to trade it gets to take control of pretty much everything about the trade from top to bottom, in order to maximise success rates and manage risk accordingly. Of course, just about the most popular trading types of all remains the 60-Second trade, but it’s perhaps the Redwood Options Open Platform that stands out as the most attractive and effective tool of all. The long and short of it being that traders are enabled to see exactly what’s going on with other traders across the platform as a whole – great for picking up on patterns and premier opportunities, that may otherwise have gone unnoticed.
In terms of payouts, you will hear a lot of traders at all levels stating that promises of “up to 81% returns” simply aren’t generous enough to compete. Likewise, the same being said for an average return in the region of 75%. Look elsewhere and you will find promises of 90%, or even 95% maximum returns. The only difference being that in the case of the latter, chances are you will never come close to actually achieving these kinds of highs. 81% may not be the most impressive figure, but given the fact that it is a realistic and reachable figure, it means a hell of a lot more than the false promises peddled elsewhere.
It’s also worth mentioning that the asset library at Redwood Options features in excess of 170 high quality stocks, commodities, and indices and Forex currency pairs – a library that is regularly analysed and updated to ensure it remains fresh and relevant.
Platform and Accounts
While it definitely looks the part, you really need to try out the Redwood Options platform personally to find out just what makes it such a hit. Everything has been condensed into a delightfully simplified point and click interface, with the different trading instruments available made accessible with tabs. Despite being highly streamlined and ideally suited to beginners, the Redwood Options platform is also more than powerful and feature-packed enough to suit even the most advanced trading styles.
They account types made available at Redwood Options were recently given something of an overhaul, though in terms of minimum deposits remain unchanged. The accounts system currently looks a little like this:
- Redwood Options Mini: Deposit $200 – $999 = 30% bonus, Daily Market Reviews, Free phone and Live Chat support
- Redwood Options Executive: Deposit $1000 – $4999 = 70% bonus, expedited withdrawals, an account manager + one risk free trade!
- Redwood Options Gold: Deposit $5000 – $10,000 = 100% bonus, same day withdrawals, a senior account manager, trading strategies, money management training, advanced portfolio structure + five risk free trades!
As you may notice, the introductory Mini account doesn’t exactly feature a great many perks or privileges. Indeed, the fact that telephone and life chat support are listed as benefits suggests that there really are no significant benefits to speak of.
Before reading too much into the bonuses listed above, it is worth taking into account the terms and conditions as laid out by Redwood Options. Rather than talk you through it, we thought we’d instead let them do the talking:
“Withdrawal of funds which have received additional rewards, bonuses, or promotions, require a trading volume fulfillment of 30, 40 or 50 times the bonus or in the event of a refund bonus 20 times the bonus amount. The trade volume requirement begins upon receipt of the bonus in the traders account. Upon receipt of the bonus, the trading requirement must be fulfilled prior to withdrawing funds from the account.”
Now, you don’t exactly have to be a mathematical genius to figure out that if you are required to fulfill a trading volume fulfillment of 50X on a bonus of $10,000, chances are this simply isn’t going to happen. Which in turn means you probably aren’t going to be able to get your hands on your cash, either. Word to the wise – always read the terms and conditions carefully before agreeing to any bonus, being wary of deals that seem too good to be true!
Mobile Trading and Demo Accounts
Redwood Options was something of a latecomer to the world of mobile trading, having existed for quite some time without offering any kind of mobile app. As of now, it’s with great pleasure that we can confirm that not only is there a dedicated Redwood Options for Android and iOS devices alike, but also that the app itself is nothing short of excellent. If you are looking for a quality mobile trading experience, you’ll find it right here.
Unfortunately, Redwood Options still insist on needlessly complicating things when it comes to demo accounts. Check out the website for yourself, read as much as you can and you will still find little to nothing in reference to a demo account. Nevertheless, there is (at least usually) a demo account facility available, but you first have to sign up, deposit funds into your account and then go ahead and ask the Redwood Options customer support team directly. Personally, we neither agree with having to pay to access demo accounts, nor having to go through such a bizarre process to access them in the first place!
Redwood Options has a solid reputation for providing access to genuinely helpful and abundant educational resources – something we found to be entirely justified. In addition, this is also a broker known for providing customers with comparatively reliable live signals, excellent market reviews and a valuable helping hand in general for anyone looking to get ahead. If it wasn’t for the fact that the demo account is only available to those who first deposit funds, Redwood Options would be an absolute winner for newcomers.
The advantages of trading with Redwood Options come thick and fast, fronted by an outstanding trading platform with a fundamentally enjoyable user experience. The learning resources available are also some of the best you will come across, solid payout rates and plenty of trading types will no doubt appeal to traders at all levels and the customer service team is superb. In addition, being able to trade with just $5.00 on the line at any one time is great for newcomers and those looking to trade on a casual level.
As for what we didn’t exactly like about our experience with Redwood Options, bonus offer terms and conditions are borderline ridiculous and the process by which the demo accounts can be accessed is unnecessarily complicated.
On the whole, we can definitely see how and why Redwood Options has earned such an explosive reputation over its years in business. There are definitely a few grey areas that could do with being addressed, but for the most part the package really is top-notch.
Just be extremely wary of those bonus offers, while the attached terms and conditions are as severe as they are right now!