• YEAR OF FOUNDATION: 2015
  • HEADQUATERS: Cyprus
  • LANGUAGES: English, German...
  • SUPPORT: E-Mail, Live Chat, Hotline
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Prestige Option Review

 

Having been launched in 2016, Prestige Options have not been online brokers for long, but reassuringly, they have been licensed by the Cyprus Securities and Exchange Commission. The website is aimed at people who are new to the world of wagering on the markets, and also those who have a little more experience under their belt.

5 reasons for Prestige Option

  • Advanced trading platform
  • Accounts to suit each type of trader
  • Supervised by CySEC
  • No upper limit to investments
  • The app is great tool for busy investors


visit Prestige Option

 

What’s it like to invest with Prestige Option

Prestige Option has a landing page which is designed to be both user-friendly and attractive. The minimalist concept provides a display where each element is clearly marked and easy to find. Users can get the information they need, or perform an action with little searching.


They also provide a number of educational tools for traders to improve their chances of success. These include; videos with accessible information for new, moderate and experienced investors, trading manuals, e-books packed with relevant advice, and newsletters which help keep the trading community aware of developments on the platform.

 

Asset types at Prestige Option

Prestige Option has four basic types of underlying asset, commodities, stocks, currencies, and indices. However, currencies are also traded in pairs, which are listed alongside the other assets.

 

Are there any special functions to look out for?

There are two primary special functions at Prestige Trader, both give investors a higher degree of flexibility, and enable them to work on improving their performance.

For a more effective risk management strategy, they have the Risk-O-Meter; this is a tool which allows investors to alter their refund and payout levels. A refund can be obtained if the option finishes out of the money, while a payout represents the profit earned if it finishes in the money. Using the Risk-O-Meter traders can adjust their options to cover them more fully in the event of losses, but at the expense of lower profits.

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The sell back option is another method of cutting losses, it allows traders to sell an option up to thirty seconds before it runs out and maintain a locked-in profit. This can be used by people who are worried that the market will take a turn whilst their wager is currently flying high.

 

How responsive is the platform?

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The Prestige Option platform is unique to them and is not used by any other binary options brokers. The software is provided by a company called TradeSmarter, who developed it to be a more convenient and consistent experience, across multiple devices. The interface has a clean appearance with no clutter around the edges, each element serves a purpose and there are no distractions. Any information needed can be accessed quickly through a band of drop-down menus.

 

What durations are available at Prestige Option?

At Prestige Option investors can trade many types of binary options, there are high/low binaries with durations between 60 seconds and five minutes, but depending on their account type, range,touch/no touch and above/below are also on offer. At the more complex end, the StrategiX platform has been launched to give more confident traders a chance to use their skills in the more advanced options market. It offers more complex binary option types:

Range binary options

Range strategies are utilised when a market goes through a period of being directionless, without a trend to watch, these are a great way of managing risk. Investors choose to wager that the price of an asset will remain inside a set range, or break out of it before the duration passes.

Touch/No Touch binary options

Presenting somewhat more of a risk than the usual high/low binary options, the touch/no touch binary options can also provide bigger payouts. Investors are in the money if an asset price touches or exceeds a pre-chosen price, or goes below it - depending on the option chosen.

 

Is there a Prestige Option demo account?

prestigeoption monitor2Traders can use the broker’s platform and learn how to wager on assets, without risking any cash by opening a demo account. This will mirror the experience investors have when they open a real account, using it they can trade on an asset, select a duration and monitor how it performs. Naturally if people are successful, they will want to open a live account and be in with a chance of making real money.

Treating the demo account as an educational tool will ensure users get the most out of it. Used in combination with Prestige Option’s extensive education centre, it can build a new traders confidence and hone the skill set of an already competent investor.

 

Downloading the Prestige Option app

Just like all the most innovative online brokers, Prestige Option provides their clients with a seamless experience from the website to the mobile app. It can be downloaded on Apple or Android devices, and allows account holders to watch and trade the markets wherever they happen to be.

The mobile app looks slightly different when rendered on a smart gadget because the screen is usually smaller; however, it is possible to choose between a simplified screen and an advanced screen. If it’s important for a user to see each detail and line of data, they can go for the advanced version and be sure of not missing a thing. The social trading aspect of the app lets people follow other traders and connect with them to discuss strategies.

 

What bonuses exist for new customers at Prestige Option?

Prestige offer a highly competitive set of bonuses, for new customers and their existing clients. When traders open an account and make a deposit, this amount is topped up by a generous bonus of 100%, if they open a VIP account. At the bronze level, customers can expect a 25% bonus, at Silver its 50%, at Gold it’s 75% and at Titanium it’s 90%. For regular traders, Prestige Option offer £200 for people who sign up a friend who begins using Prestige Option's platform and the friend will also get a £50 bonus.

 

How to make payments and request withdrawals at Prestige Option

prestigeoption payments

Prestige Option accept many different methods of payment from account holders who want to make a deposit. These include bank transfers and credit cards, like; Diners Club, JBC, MasterCard, Maestro and Visa. Along with e-wallet services, like Moneybookers and Skrill. For people who would prefer to use a local method, Prestige Option can take payment from WebMoney, Qiwi, Bancontact, LightStream, CashU, and iDeal. For the methods mentioned, the minimum amount that can be deposited is £250.

There is no minimum amount for withdrawals however, and to get the ball rolling, account holders just need to create a Withdrawal Request whilst logged in. Like most brokers, Prestige Option will ask for identification to ensure the funds are not being withdrawn fraudulently. This can be done by uploading the required documents to an account.

Prestige Option enables clients to withdraw funds to a credit card or bank account. This account must have the same name as the account with them, in order to comply with their anti-money laundering policy. No fees are charged by the broker, but some banks may charge their customers a fee for wired transactions. In most cases the funds take five working days to become available, but this could be up to ten for credit card withdrawals.

 

 

Contacting the customer services team at Prestige Option

Prestige Option provides plenty of support for its clients, including a website that can be viewed in English, French or German. This indicates that they are serious about attracting international traders and are ready to cater for their needs. The customer care team work between Monday and Thursday, 8am to 8pm, and on Fridays from 8am to 1pm, UK time. During these hours you can call them on +3572 2052769 in Cypress, or +4930 31199579 in Germany.

To speak to a representative online, customers can use their Live Chat feature. Calls are answered quickly and staff do appear knowledgeable about their subject. They can also be reached via email, at This email address is being protected from spambots. You need JavaScript enabled to view it., or there is a contact from on their website which people with a less urgent query can use.

 

Are Prestige Option regulated and secured?

prestigeoption regulation2

Prestige Option is part of the Leadtrade Ltd family and is regulated by the Cyprus Securities and Exchange Commission. This should give traders peace of mind when they open an account or begin trading at their platform. In essence, working under licence from CySEC means companies are carefully monitored to ensure they comply with the laws surrounding binary trading, but it also means they have an obligation to ring fence their client’s funds, in case the company itself becomes insolvent.