Some might already be familiar with the name of OptionRally. This broker has established itself very early by being the first broker to release a mobile trading app for iOS and Android phones. They of course also have a web-based trading platform. Both ways of trading with OptionRally are promoting an intuitive feel and simple interface.
The trading platform used by OptionRally is of the widely applied SpotOption variety. This is the most famous white label solution for trading platform in the binary options market. Generally speaking it is the best platform available, which is why it is so widely used by brokers all over the world. Many features come included with the SpotOption trading platform, such as One Touch and Rollover options, allowing for higher payout rates in exchange for bigger risks. OptionRally seems to have a good support from countries in the Eastern parts of the world, as they have translated their platform in the languages Vietnamese, Chinese, Japanese, Turkish and Arabic.
To access the platform on a computer no download or installation is required, as the platform is completely web-based. As mentioned earlier, for iOS and Android phones and tablets OptionRally has a mobile app available.
Start Trading with OptionRally
Opening an account with the broker OptionRally is easy enough. It can be done by filling in all the required personal details and by subsequently making a minimum deposit of 250 EUR / USD. The minimum deposit is one time only, necessary to validate the account. Future deposits can be any amount the trader desires. What’s good is that OptionRally gives out bonuses to new account, up to 10% of the first deposit made. So it could be smart to make the initial deposit higher than the required minimum.
Where OptionRally has a clear distinction that sets it aside from other brokers, is their focus on the Arabic world. OptionRally allows the creating of Islamic accounts, meaning that the account does not have to pay interest and will not receive it either.
The payout rate of the binary options broker OptionRally is around 80%. This is not exceptionally high, but this is in part compensated by the broker by giving a small refund of 10% whenever an option is lost. Of course OptionRally has also a number of different trading option enabled, which allow traders to achieve greater payout rates against greater risks. These payout rates can go as high as 500%, but the chances of this happening are very slim. The smallest amount that can be invested in a single option is 25 EUR / USD.
Making deposits to an account can be done with a number of payment methods, namely Credit Cards and Skrill Moneybookers. Withdrawals can only be made by two methods: Credit Cards and Bank Transfers. This is quite limiting and certainly not an optimal solution for most traders. Having more payment methods available could make OptionRally a more flexible broker.
What OptionRally does very well, is giving traders a large and varied choice of assets to trade with. Currently the portfolio of assets offered by OptionRally numbers over the 100. These are divided in four categories: Indices, Currencies, Stocks and Commodities. Traders will have many different assets to trade, enabling more strategic decisions but also a better understanding of the binary markets.
As was mentioned earlier, OptionRally provided proper support for countries in the Eastern parts of the world. As such, their customer service team is not only fluent in English but also in Arabic, Chinese and Turkish. Contacting the support team of OptionRally can be done by Phone, Email or Live Chat. On their website can be found a list of country-specific phone numbers. Some sources have commented that the customer service is not as fast in responding as they should be, which is not a very good thing to hear as support to costumers is an important factor for any serious broker.
OptionRally provides a stable and user friendly trading platform, founded on the ever famous SpotOption engine. There is a good support for Arabic countries and customers, making them a perfect pick for traders from this part of the world. They have been the first to develop a mobile app to allow trading by phone or tablet, earning them immediate respect for innovation. They offer a refund and good welcome bonus, ensuring that profits can be earned right from the start. Overall OptionRally is pretty straightforward and offers admirable services.
The payout rates offered by OptionRally are definitely not optimal. It might be argues that this is compensated for by the refunds they offer on lost options and the welcome bonus that is received by new accounts, but it is not enough of a compensation if one looks at numbers. Furthermore it appears the customer support is not fully on top of things, as their response time has received negative feedback from a number of different sources.
OptionRally Review Final Verdict
OptionRally is a broker traders can comfortably sign up with. They offer everything that makes a broker good, and they are known to innovate. OptionRally has some flaws, but so do other brokers, but perhaps in different areas. For Arabic traders OptionRally is however one of the better choices, as they have full support in a number of different ways. There are a lot of extras offered such as bonuses, making OptionRally certainly a good choice, though just not one a leading broker as there are better ones out there.