Wales-based HotOptions is another binary broker operated by Hortense Holdings Limited, one of the most prolific firms in the binary option market today. What this means is that although Hot Options may not be the most unique or innovate broker out there, they are backed by the reliability of their larger parent company. This makes HotOptions.com a great choice for those that want their binary trading simple, easy, and straightforward without unnecessary complications.
Software and Features
HotOptions is powered by the older SpotOption platform, which is somewhat limited in its offerings but is quite easy and intuitive to use. HotOptions.com itself is clean, simple, and well-organized, making it quite simple to find things including their tutorial guide, asset list, and the helpful daily and weekly market reviews. However, it would be nice to see more educational resources or a demo account which makes Hot Options better for experienced traders. Perhaps the greatest advantage of HotOptions is that is accepts US traders and is aimed towards them, providing their websites solely in English. Live chat support is said to be available 24 hours a day and representatives can be contacted by phone during business hours.
Option Types Offered
At the time of our HotOptions review, a paltry 50 stocks, commodities, currencies, and indices were available as underlying assets. Likewise, the different ways in which these assets could be traded was lower than average with only call/put options, one-touch options, and an options builder feature available. Fortunately, profits are in-line with the rest of the industry, with in-the-money options paying out as high as 81% while 10% refunds are offered for most losing trades.
Account Types Offered
There are no predetermined account packages like with other brokers; instead HotOptions offers each trader a customized account based on his or her trading background and initial investment amount. Some of the various benefits which you might be offered can include personalized coaching sessions, faster withdrawals, higher returns, and the chance to claim a HotOptions bonus on your first deposit. One thing unique to Hot Options is that in addition to using major credit cards, accounts can be funded through telephone echecks.
Many traders want to be left alone when trading and just do their own thing without too many distractions. For these kinds of traders who also want binary options trading to be a simple as possible, HotOptions may be the right kind of broker. Although they certainly lag behind other brokers as far as assets and extras offered, this doesn’t make them a bad broker. Additionally, the reputation of their parent company means that traders can count on HotOptions.com to work correctly and deal with them fairly.