Grand Option was a Binary Options Broker that opened in 2014. They are owned by Rodeler Ltd., the same company that owns 24Option. Grand Option is located at 39 Kolonakiou Street, Ayios Athanasios, Limassol, Cyprus CY-4103. Their phone numbers are; United Kingdom +44 20 3150 0328 and Cyprus +357 2 526 2770. Their email address is: [email protected].
Trading Platform Review
Grand uses the Scipio trading platform. It looks similar to the Tech Financial platform, and they offer possible payouts of up to 88% per successful trade. The platform offers Short Term options in 60 second, 2 minutes and 5 minutes. Additionally, they have the regular high low binary options. They recently introduces a Stop Loss feature for traders to lock in profits or to eliminate the losses before the market changes direction.
Minimum Deposit is $250. Minimum Trade Size is $25, and Maximum Trade Size is $50,000. Grand Option is very popular in England, Italy, Turkey and other European countries. Their platform is available in English, Turkish, Russian, and Italian.
Grand Option License
What we look for in binary option brokers to determine if they are a legit broker or a scam broker is very simple. Did a regulator body like CySEC in Cyprus give them a license or do they fall under the MIFId regulatory rules in the European Union (EU)? Does CONSOB in Italy or the FCA in the United Kingdom or the Finanstilsynet (The Danish FSA) include them in their list?
When choosing a binary option broker it is important to check that the broker is regulated by CySEC. The benefit of using a broker like Grand Option is that since they are regulated, if you have a complaint about Grand Option, you can go here, and it goes to their ombudsman in Cyprus. See Grand Option’s FCA registration here, see Grand Option’s CONSOB registration here.
Click here for details of Grand Option’s regulatory oversight.