CloseOption Review 2025

Pros

• The platform works with most internet browsers and is easy to use.
• Free demo account
• Beginners in trading can start with a minimum deposit of $5.
• CloseOption hosts weekly cash-prize trading competitions.
• Various global payment options are available.

Cons

• Customers must deposit over $50,000 to be eligible for the maximum payouts.
• Binary options can be traded on both traditional (“fiat”) and digital currencies.
• CloseOption is not overseen by a reputable trading body.

CloseOption is a European broker offering more than 25 assets, including forex and cryptos, with payouts up to 95%. Its platform is beginner-friendly and hosts weekly contests. This overview will discuss its deposits, withdrawals, app, demo accounts, and more, revealing our expert review of CloseOption.

Company Details

CloseOption, a Georgian binary options broker since 2013, offers trading on forex and digital currencies via web and mobile platforms. Traders can deposit using bank cards, wire transfers, e-wallets, and cryptocurrencies like Bitcoin, with a minimum trade size of just $1. While registered with the National Bank of Georgia (license B2-08/3647), it’s not recognized as a trusted authority.

Markets & Assets

CloseOption excels in offering trading with 25+ forex and crypto pairs, meeting diverse interests. Yet, it falls short in providing binary options for stocks, indices, or commodities, unlike some competitors.

• Forex Pairs – AUD/JPY, AUD/USD, CAD/CHF, EUR/AUD, EUR/CAD, EUR/JPY, EUR/NZD, EUR/USD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/NOK
• Crypto Pairs – BTC/USD, BCH/USD, ETH/USD, LTC/USD, XBT/USD

Payouts

CloseOption offers good forex payouts but requires a $50k deposit for top payouts of 95%. This can be a downside compared to others.

Copper account currency payouts:

• EUR/USD – 76%
• USD/JPY – 75%
• GBP/USD – 75%
• AUD/USD – 70%
• USD/CHF – 70%
• EUR/JPY – 65%

Volatile digital assets have lower payouts, around 40%.

CloseOption Fees

CloseOption is great for trading binaries with no commission, deposit, or withdrawal fees. However, inactive accounts over three months face a 0.5% fee based on the balance, plus a $10 reactivation fee to reopen the account.

Trading Platform

CloseOption is a web-based trading platform compatible with major browsers like Chrome, Internet Explorer, and Firefox. It offers essential tools for analyzing assets and trading binaries, including various chart styles, analysis tools like Fibonacci and trend lines, and complete order history. Potential payouts are clearly stated before trades are confirmed.

Charts are available in four timeframes: 5 seconds, 10 seconds, 30 seconds, and 1 minute. Binary options contracts vary from 30 seconds to 1 month in length. However, advanced tools and features for experienced traders are limited.

How To Make A Binary Options Trade

Trading with CloseOption is straightforward:

1. Log in using your credentials
2. Select ‘TradeRoom’ from the top menu
3. Click ‘Real Trading’
4. Pick an asset from the menu
5. Choose an expiry time (30 seconds to 1 month)
6. Set the trade size using ‘+’ and ‘-‘ or input manually
7. Check the potential payout
8. Select ‘Put’ or ‘Sell’ to confirm

Mobile App

CloseOption lacks a downloadable mobile app but works fine on web browsers for mobile and tablets. The interface is stable and screen-friendly, allowing traders to easily browse assets, add graphical overlays, and execute trades. Yet, detailed technical analysis is challenging and better suited for desktop use.

Live Account

CloseOption offers one live trading account with a $5 minimum deposit, similar to others. You can trade amounts between $1 and $1000. With this account, access 24/7 customer support and trading contests. Larger deposits can upgrade account levels, enhancing payouts. However, lower tiers may not match competitive payouts, and Gold and Diamond deposits are costly for many.

• Copper – Deposit $0 to $1000, payouts up to 76%
• Bronze – Deposit $1000 to $2000, payouts up to 77%
• Silver – Deposit $2000 to $10,000, payouts up to 78%
• Gold – Deposit $10,000 to $50,000, payouts up to 79%
• Diamond – Deposit $50,000 to $1,000,000, payouts up to 91%

How To Register For A CloseOption Account

Creating an account takes just minutes:

1. Go to the CloseOption website.
2. Fill out the registration form and click ‘Sign Up’.
3. After signing in, click the ‘Trade Room’ icon at the top right.
4. Select a live account or demo profile using your login credentials.

New users must meet anti-money laundering and know-your-customer standards, uploading a passport or ID for proof. Activate your account by selecting ‘Account Approval’ under ‘Settings’. Approval may take up to two working days.

Demo Account

CloseOption is strong in offering a free demo account with $100,000 in virtual funds. This helps beginners understand trading platforms and binary options. Importantly, the demo mirrors live trading conditions, including asset ranges and payout features. To start paper trading, choose ‘Go To Demo Trading’ in the trade room.

CloseOption Payment Methods

Deposits

CloseOption provides various payment methods:

• PayPal
• WebMoney
• Mastercard
• Perfect Money
• Crypto transfers like Bitcoin, Dash, Ripple, and Ethereum

A low $5 minimum deposit benefits beginners eager to start trading binary options. Most methods are fee-free, but bank cards incur an 8.4% charge, often waived during promotions. Funding is instant, except crypto transfers, which may take 30 minutes.

To deposit:

1. Log in to the CloseOption dashboard
2. Select ‘Deposit’ from the menu
3. Pick a payment method and click ‘Next’
4. Enter the amount and decide on bonuses
5. Click ‘Next’
6. Fill in payment details and click ‘Confirm’

Note: PayPal and Mastercard need KYC verification first.

Withdrawals

Withdrawals go back to the original method or via wire transfer. Minimums are low: $1 for Perfect Money, WebMoney, and cryptos, $20 for Mastercard, and $500 for wire transfers. The maximum withdrawal is $10,000, with unlimited daily requests. Processing takes three working days. Fees don’t usually apply, but wire transfers might cost $50 to $100, which could affect profits.

Bonuses & Promotions

CloseOption excels in trading promotions. With weekly contests, traders compete for prizes up to $1000. A total prize pot of $3000 is offered weekly, accumulating to $12,000 monthly. Joining is easy through the client dashboard, with only a $5 entry fee. New clients also receive a $10 cash gift and a 44% deposit bonus, withdrawable after reaching a 20x transaction volume.

CloseOption Regulation

CloseOption claims its trading activities are regulated by the National Bank of Georgia. Remember, this bank has limited authority over binary options brokers and can’t fully ensure customer protection. So, approach trading with a sensible risk and money management strategy.

Additional Features

CloseOption excels with its education hub, regularly updating content on crafting trading strategies and grasping technical indicators. Traders appreciate the platform tutorials, which guide users on checking order history, joining contests, or modifying binary options contract expiry times. However, a drawback is the absence of copy trading, a feature offered by many popular platforms like Pocket Option.

Trading Hours

CloseOption operates from 21:00 UTC Sunday to 21:00 UTC Friday. However, it lacks weekend trading options present with many top binary options brokers.

Customer Support

CloseOption caters to beginners with 24/7 customer support. You can reach them via phone, email, or live chat, though our test response was lacking.

• Email – info@closeoption.com
• Phone – +44(20)32902097 or +17068474747
• Online Contact Form – Enquiry message service via the ‘Contact Us’ webpage
• Office Address – Vake-saburtalo district, Al Kazvegi ave. N41 Apt.N19, Tbilisi, Georgia

Their website has a helpful FAQ section with account and payment guidance.

Security & Safety

CloseOption’s security measures are lacking; there’s no two-factor authentication or one-time passwords. This, combined with the lack of regulation, raises concerns. Additionally, you can’t cancel orders once placed.

CloseOption Verdict

CloseOption provides a user-friendly platform and round-the-clock customer support. It hosts weekly trading contests with cash prizes, which can be quite appealing. However, its asset range is limited, and there is a lack of regulatory oversight. Tools like copy trading are absent, and a significant deposit is necessary to access better payouts.

Alternatives To CloseOption

These similar brokers are the highest rated alternatives to CloseOption.