Redwood Options Review

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Redwood Options Review

Redwood Options

Broker Redwood Options
US Traders Accepted
Company Name Platinum Dome Investments Ltd.
Headquarters London, UK
Regulation No
Bonus Type Match bonus
Bonus Size 100%
Max Payout 85%
Out-of-Money Reward
Trading Platform SpotOption.
Deposit Options Credit or debit card, wire transfer, CashU
Deposit Currencies US Dollar, British Pound, Australian Dollar, Euro, Canadian Dollar
Minimum Deposit $200
Minimum Trade $5
Maximum Trade $5,000
Online Since 2020
Trading Instruments Currencies, commodities, stocks, indices
Number of Trading Instruments 61
Binary Option Types High/Low, One Touch, 60 Seconds, Option Builder, Open Platform
Customer Support Types Web form, toll free phone, email, live chat
Education Offered Glossary, FAQ, basic how-to pages, trading eBook, market reviews, dedicated account manager, video platform walk-through, trading strategies, money management training, portfolio structure, breaking news
Tools Offered Double up, rollover
Commission $30 fee for wire transfers, $100 minimum withdrawal threshold
Languages English
Demo Account On request

Redwood Options is a binary options brand which has already garnered a lot of positive reviews, despite being relatively new to the scene. There is a persistent rumor that Redwood Options is run by the same people who run the well-known broker TradeRush. There appears to be no actual foundation for these rumors, however, as Redwood Options is operated by Platinum Dome Investments Ltd., while the company that operates TradeRush is known simply as TradeRush. While Redwood is lacking in some features (mobile trading, early close, a proper demo account), they have an informative site that is easy to navigate, and many different types of options to trade.

Redwood Bonus Options and Risk-Free Trades

When you go to open an account on Redwood Options, you have the option of depositing with your credit or debit card, wire transfer, or CashU. Redwood is clearly catering to international customers, offering many different account currencies including Australian Dollars, Canadian Dollars, Euros, British Pounds, and US Dollars. USA customers are accepted. The minimum deposit is $200, and the minimum withdrawal threshold is $100. Aside from the standard $30 fee for wire transfers, there are no other fees.

There is no demo account advertised anywhere on the site, but the customer service agent I spoke to implied that it is possible to talk to an account manager about opening one. Regardless, new accounts come with risk-free trades. One very interesting option new customers are given is the choice to accept bonus money or additional risk-free trades. Redwood offers incredibly generous bonuses, including match bonuses of 100% on up to $10,000. Not everyone likes to trade with bonuses, though, and if you are a more conservative trader, you may want to take advantage of the option to choose risk-free trades instead. This is a great way to get extra practice and possibly make some extra money along the way. Some sites force you to accept a bonus with restrictive terms that can make both trading and withdrawals difficult. Redwood does not force its customers to trade with money that isn’t theirs.

Trading on Redwood Options

Sixty-one different currencies, stocks, indices, and commodities are available to trade on Redwood Options. The SpotOption platform allows you to place High/Low trades, One Touch trades, or 60 Second trades. Option Builder gives you control over your expiry time, and Open Platform gives you a better look at what is going on visually with the market. Double up and rollover are available to help you trade, but early close is not, which is a bit of a drawback.

You can trade as little as $5 on 60 Second trades. The minimum for other types of trades is $10. If you want to place larger trades, you can trade up to $5,000, which is a reasonably high limit. It is noteworthy that account tiers run as high as $10,000 for initial deposits as well. Clearly Redwood is interested in catering to traders with large and small accounts, and not leaving anybody out.

Plenty of Resources

If you are looking for a broker who goes out of its way to foster education, Redwood may be a good choice. Along with the standard glossary, FAQ, and basic how-to pages, you will find a trading eBook, market reviews, and additional benefits for higher account tiers. Some of these include a dedicated account manager, video platform walk-through, trading strategies, money management training, portfolio structure, and breaking news.

Redwood Customer Service

Customer service was a bit of a mixed bag. You can get a hold of Redwood via live chat, toll free telephone, email, or web form. When I got on live chat, I only had to wait for a few seconds before an agent appeared on the line. That was a pleasant surprise. The agent answered all my questions, which was also a pleasant surprise.

The only issue I had with the agent who was talking to me was that he did not seem to entirely understand my questions. I explained that I was writing a review, and yet he still tried to sell me on the idea of talking to an account manager about opening a demo account. He mentioned special promotions as well, which seemed like a bit of a hard-sell to me—particularly given that I was not even a customer. He steered carefully around my questions about regulation, stating that Redwood expects to be regulated within a few months (which is possible, but unlikely). He also was baffled when I asked him about TradeRush, which seemed unusual to me, given TradeRush is so well known. I appreciated that the service agent was trying to be helpful, but it was clear to me he had been told to take any opportunity he was given to sell me on services.

Conclusion

Redwood Options certainly has a lot going for it. The website is very nice; I had no problems whatsoever finding information. There are also a lot of third-party reviews of Redwood, many of which look legitimate. This implies to me that they are already forging a strong reputation in the binary options community—even if many reviewers are confused about their relationship to TradeRush (or lack of one). Redwood provides traders with numerous resources and promotions, and the option of saying no to a bonus and receiving free trades instead is a wonderful one.

The biggest red flag with this company is the hard-sell from the customer service agent. On one hand, it is great that they are actually providing customer service. That already puts this company miles beyond most of their competitors. On the other hand, it is always good to be cautious when someone is clearly more interested in making a commission than they are in helping you out. This broker definitely has positive potential, but if you are interested in trading with Redwood, it would be wise to talk to a customer service agent first on the phone to see what kind of treatment you receive.

7 Binary Options

UPDATE (15.01.2020):

We have found out that Redwood Options has shut down their operations.

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Recently launched in 2020, Redwood Options has already become the binary options broker of choice for an ever-expanding global client base. In reviewing Redwood Options, we were impressed by its simplicity and extremely user-friendly interface.

Few trading platforms have managed to make themselves as accessible as Redwood Options while still retaining a wide range of features to keep more advanced traders interested. Ideal for first time traders and experienced investors alike, we noted that it offers all of the classic trading options, including High / Low, One Touch, Option Builder, Meta Charts and Pair Options.

Their collection of 150 tradable assets is sufficient in offering traders a variety of options without being too overwhelming.

Basic information:

Online since: 2020
Jurisdiction: Cypros
Software: SpotOption
Max Returns: 81%
Minimum Deposit: $200
Minimum Investment: $10
Maximum Investment: $5,000
Currencies: USD, AUD, CAD, EUR, GBP
Mobile: Yes
Countries: All nations, but not US customers

– Good variety of options
– Very high deposit bonus
– Excellent payout rates
– Small minimum investment

– Customer service sometime slow

7 Binary Options Rating:

Account types

When assessing Redwood Options, we researched the various account packages available to customers. In-keeping with its streamlined, no-frills approach, Redwood Options offers 3 package types which easily encompass all kinds of traders.

The Mini Account

The Mini Account is the most basic package available and ideal for those taking their first steps in binary trading. It offers a 30% bonus on signing up, as well as daily market updates and completely free support via phone and Live Chat.

The Executive Account

The Executive Account is more tuned to those who have gained a firm foundation in binary trading, and includes a significantly larger welcome bonus of 70% bonus. This is in addition to your own personal account manager, step by step video guide, tutorage in how to develop a trading strategy and expedited withdrawals of your funds.

Gold Account

Redwood Options’ Gold Account is its most exclusive offering, with an amazing 100% sign-up bonus, a high-ranking account manager, same day withdrawals, five risk free trades plus instruction on trading strategies and money management.

Customer Service

We found Redwood Options’ customer care team to be particularly helpful and well equipped to deal with clients’ enquiries in a timely and efficient manner. Dedicated customer support is a highly valuable service and one which Redwood Options provides its traders with on a 24/7 basis.

Screenshot

Educational Resources

Redwood Options also offers investors comprehensive educational tools and resources to ensure that they can make informed trading decisions and maximize their profit earning potential. The guidance provided to newcomers to binary trading was particularly useful, with the Redwood Options website dedicating an entire section to an introduction to the platform which guides traders through the world of global trading.

However more experienced traders also have much to gain from the platform, with numerous advanced courses available, such as technical analysis and how to develop one’s trading strategy.

Mobile App

Redwood Options’ free Android application was particularly impressive, allowing investors to never miss a trading opportunity and make profits no matter where they are. The smartphone application was extraordinarily easy to use, allowing traders to access their accounts securely and engage in trading with minimal effort.

Conclusion/Summary

We are confident that the professionals at Redwood Options are well equipped to assist traders in making the most of their investments. With a clear and easily navigable layout, this platform is ideal for those on their first foray into binary option trading. Almost as easy as using a binary trading robot.

With their highly knowledgeable customer care team, exceptional payout rates and generous welcome bonuses, you can be assured of a positive trading experience with Redwood Options.

Additional information

Customer Service: Live Chat / Email: [email protected]
Languages: English, Chinese, Spanish, French, German, Italian, Turkish, Arabic
Trading Options: High / Low, One Touch, Option Builder, Meta Charts, Pair Options
Assets: Currencies, Stocks, Indices, Commodities
Early close: Yes
Expiry Times: 60 sec, 15 min, 30 min, 1 hr, 24 hr+, End of Day, End of Week
Deposits and Withdrawals: Visa, MasterCard, Bank Wire, Maestro, Cartebleue
Withdrawal Time: 3 business days
Demo account: Yes

7 Binary Options review: Redwood Options : 4,5 stars.

John Miller

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Redwood Options Review

I’m asked regularly by investors, “Rob, what firms should I trade? Today, allow’s discuss the process for you to discover candidates for you to trade.

Those three pieces are going to be critical to selecting your alternatives as well as your stocks as well as your components of what you’re looking to sell your settings. Instead of simply plucking from air a supply as well as stating, “Ooh, I’m going to trade this one due to the fact that my buddy stated it’s a good stock to trade you,” need to ensure you make an enlightened decision.

The 2nd one, the ask is this is how much money we’re asking you to pay to buy it for us. If you check out an alternative as well as, allow’s claim, the alternative has a rate of $2 by $2.10, to ensure that’s the proposal is $2 the ask is $2.10. Which one would you instead sell it for?

Number three is the alternatives cost. You see, I may consider the supply and also a stock is trading at, allow’s claim, $35, but I see the alternative is trading at $14, $15– that cost might be also way too expensive for me, to ensure that supply may function, however it might not be the appropriate one for you. Their alternatives are a little costly for the typical individual that wants to trade since they get up into that $15, $18, $20 range, and that might be more than the average individual, specifically if you’re more recent, agrees to put in the trade.

The first thing I intend to say about it is you can’t trade whatever. You’re not going to discover the average individual trading in Amazon at virtually $2000 a share and routing Sprint at $10 a share. You’re going to have a range of supplies that you fit with that you can afford to trade.

Now, part of that will certainly be predicated on what you can afford to trade, and also what you fit to trade. You might state, “Rob, you recognize, I have actually done this for a little bit now, I have actually traded a few supplies, and when they rise over $50 or $70, yes, I get a little bit stressed regarding that,” after that you know you require a variety lower than that. You see, I might consider the supply and also a supply is trading at, allow’s state, $35, however I see the alternative is trading at $14, $15– that rate may be too way also pricey for me, so that supply might work, but it might not be the best one for you. Their options are a little costly for the average individual that wants to trade because they get up into that $15, $18, $20 array, which might be greater than the ordinary private, particularly if you’re more recent, agrees to place in the trade. Instead of just tweezing from air a supply as well as saying, “Ooh, I’m going to trade this set since my pal said it’s a great stock to trade you,” need to see to it you make an enlightened choice.

Now, part of that will certainly be predicated on what you can afford to trade, and also what you fit to trade. You might state, “Rob, you understand, I have actually done this for a little currently, I have actually traded a couple of stocks, as well as when they stand up over $50 or $70, yes, I get a bit stressed about that,” after that you know you require a range less than that. Profession Navigator has a wonderful scanning feature to do that simply that.

I want you to check out whatever the cost is and also ask yourself, those 2 prices $2 by $2.10, which one do I want? Ask on your own the concern, which one do I want? The difference of that proposal ask is what the marketplace maker keeps for their cost, their VIG for the putting the vendor as well as the customer with each other in that trade.

Volume tells us the amount of shares a day are traded on this supply. Ideally, in a best as well as great world I would certainly not wish to see anything under 1 million shares, and that’s my personal, base of volume is a million. I am alright for newer traders if they locate supplies they such as to decrease and to perhaps 750,000, however, for me it’s a million, so that’s number two.

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