Sometimes, a new options broker will show a lot of potential while not actually having much to offer. Set Option is different in that the Swiss team behind SetOption.com obviously took a look at what traders wanted and made sure to design a platform that is made with traders in mind. So while SetOption is not the perfect broker, there are plenty of things, such as their huge asset list, that both new and veteran traders will find especially attractive.
Software and Features
The SetOption broker platform is powered by the extremely successful and well-designed Spot Option software. The platform is available either directly in a web browser or through an Android app, and is easy enough for beginners to learn it in minutes, yet powerful enough for pro traders to do everything they want. There are plenty of trading tools such as market analyses and trading signals, which can really help boost profits. One downside found during our SetOption review was the lack of a demo account, which, along with the thin list of educational resources, puts new traders at a bit of a disadvantage. On the plus side, live chat and phone support is available round the clock in multiple languages.
Option Types Offered
Set Option offers a huge list of underlying assets, with more than 100 stocks, indices, asset pairs, commodities, and currencies supported. The SpotOption platform means that these assets can be traded as call/put options, 60-second options, and one-touch options. The Options Builder and Meta Options program allows traders to customize and trade on the fly, with trades made directly from the charts with the ability to roll over, double up, or sell options early. Payouts are better than average, with most in-the-money trades between 75% and 85%, while losing trades have a 10% rebate.
Account Types Offered
With six different account levels, there is a SetOption account for everyone. It is best to deposit more than $250 and get at least the Mini account, as the Micro account is practically worthless. At the Mini level you get access to the educational e-book and a 50% Set Option bonus. With higher account balances come more advantages accounts such as the Standard, Premium, and Pro accounts which offer free signals, individual coaching, and even monthly cash back with the highest account levels. Deposits can be made with credit cards and wire transfers and withdrawals are pleasingly offered for free.
There is nothing new at SetOption.com that experienced trades won’t have seen on other binary options brokerage sites. However, the fact that Set Option takes what is good about a number of different brokers and combines them is what truly sets it apart from the crowd and makes them a serious player in the options market.