Redwood Options Review
This review will look at the binary option brokers that are called Redwood Options. Based in London, Redwood Options is owned and operated by Redtulips Consultants Ltd. Redwood Options is based in London in the United Kingdom.
We will tell you about Redwood Options history. We will also delve into Redwood Options terms and conditions, also focusing on withdrawal terms. Our goal is to provide you with as much information as possible about Redwood Options, and also give our opinion if Redwood Options is a scam. Hopefully this review can help you decide whether or not to use Redwood Options as your binary options trading broker.
- Over 150 assets available to trade on
- Live trading webinars
- iFollow trading
- Not licensed or regulated
- Only available in the English language
Deposit & Withdrawal Methods
- Company:Redtulips Consultants Ltd.
- Platform:Spot Option
- Minimum Deposit:$250
- Minimum Withdrawal:$100
- Minimum Trade:$10
- Demo Credits:None
- High/Low, Pairs, One Touch, Ladder, Forex
- 30 sec, 60 sec, 90 sec, 2 min, 5 min, 15 min, 30 min, 45 min, 1 hour, End Of Day
- iPhone, iPad, Android
About Redwood Options
Redwood Options claims to be the leading binary options broker. It seems that almost all brokers will make a similar claim. Redwood Options is owned and operated by Redtulips Consultants Ltd, and based in London.
Redwood Options takes great pride in the wide variety of educational resources in binary trading that they offer their clients. They have eBooks, live webinars and videos that help teach amateur traders the best methods in binary options trading.
Redwood Options also has a huge list of assets for traders including:
- and commodities
Redwood Options uses the spot option platform which provides traders many different opportunities to “win.”
Redwood Options has one downfall, they have not been licensed.
Redwood Options History
Redwood Options originally was based in Anguilla, and was founded in 2010. Moving their home base to London, the website began to attract more traders in 2013. Owned and operated by Redtulips Consultants Ltd., the Redwood Options team has consistently added more and more assets for traders.
In 2014, Redwood Options converted to the spot options trading platform which most traders love. Redwood Options is also always adding educational substance to help inform traders.
Redwood Options Terms and Conditions
As a trader, you should always study the broker's terms and conditions before signing up with them. While there are usually a long list of terms and conditions, I will provide some of Redwood Option's more important ones below:
1: Clients must be aged 18 or over.
2: Client is responsible to know and follow the trading laws of their country.
3: Redwood Options has the right to refuse service to anyone.
4: Recommendations made by the system are not guaranteed.
5: Redwood Options has the right to terminate the agreement at any time by providing notice to the client.
Again, these are just a few of the terms and conditions at the Redwood Options website. Before joining Redwood Options, traders should read the terms completely.
Redwood Options Withdrawal and Bonus Terms
Before any withdrawal can be processed, the trader must provide Redwood Options with a photo ID, utility bill or bank statement showing the client's address, and the front and back of cards used to deposit with the first 12 digits on the front covered and the CW code on the back covered, but the signature must show. The minimum withdrawal is $100.
Withdrawals will go back to the same location the deposits came from. If the client used a Visa credit card, the withdrawal will go back to that same credit card account.
With any bonuses the trader receives from Redwood, the client must trade 30, 40 or 50 times the amount of the bonus. The amount will be stipulated before the trader accepts the bonus. Refund bonuses are set at a 20 times trade back for the client.
Redwood Options Demo Account
Redwood Options has no demo accounts. While they do not have demo accounts, they do offer a plethora of educational materials that can teach clients many great tips on binary options trading. Redwood Options also has the iFollow feature where traders can follow successful traders and allow the system to automatically copy their trades.
Redwood Options Scam Watch
Being non-licensed and unregulated makes a bad impression for Redwood Options. This does not mean they are a scam, and I will state that Redwood Options seems quite transparent.
I have searched for bad reviews and have found very few. No matter what, every binary options broker will have a few bad reviews, because there is always going to be ignorant traders that blame their bad trading methods on the broker.
In my opinion, Redwood Options is not a scam, but it is still wise to utilize licensed and regulated brokers. If you do have any issues, you can go to the licensing authority.
Redwood Options Mobile
Redwood Options does offer a mobile android application on Google Playstore and also an iPhone app. The features are not nearly as abundant as on the main website, but a person can make trades while on the go. Downloads for mobile apps are free.
Redwood Review Video Transcript
Hi, traders. This is Chris Morton from binaryoptions.net.au. In this video I will be reviewing the Redwood's binary options trading platform. This is a very new binary options platform to come onto the market. It is run by the same guys who run TradeRush. So if you love TradeRush, then you're also going to love Redwood Binary Options.
The major difference between two will be the promotions that Redwood Binary Options offers. They probably will be offering slightly different promotions, so I suggest either selecting TradeRush or Redwood, depending on which promotion suits your needs.
So some are good things about Redwood Options is that you can deposit in Australian dollars, which is great for Australian traders. A lot of the broker already give the option of depositing in, and having a trading balance in Euros, USD, or British pounds. But you can actually deposit and trade with Australian dollars.
In regards to their banking methods, at the moment they're quite limited. I believe you can only deposit via credit card, or wire transfer. So those are the only two options at the moment.
So if you're transferring money, probably over $1,000, I'd probably suggest using a wire transfer. And if it's under $1,000 it's just using a credit card. So that's their banking. And also on withdrawals, the options are credit card and wire transfer.
So in regards to what assets you can trade, pretty much everything under the sun. In regards to binary options, you'll find everything that you find on every other broker will also be available on Redwood Options. So you don't have to worry about that. They're going to have everything.
They also-- if you go to the trading, the actual trading platform, Redwood Binary Options is powered by SPOT Options Software. So, if you're, again, if you're familiar with bank to binary or TradeRush, it's going to be a very similar lay out. The only change is going to be the actual look and feel.
OK. So here you got your classic call and put binary options. Then you've got your option builder, where you can have a bit more power over the actual expiry times in minutes.
You've got your one touch, you've got your 60 second options as well. And then there's the MetaTrader, which again, is just a bit more advanced tool with a more advanced traders giving you a slightly better chart to look at and more power over your options, and expiry times.
In regards to their support, so let's go have a look. OK. So they have-- you can contact them via a contact form. Phone-- only US and Canada, so that's a bit limited-- no Australian option. Email and chat is 24/5, so only available from Monday to Friday.
We can actually see if someone's available. This is a good, little test I like to do. So it's actually not even live at the moment being 24. That may be because I'm reviewing this on a Monday afternoon, and they've yet to start their Monday in the US.
Oh, it's very early. It's 5 o'clock in the morning. So that suggests probably an office hours at 9 o'clock, that will become 24. But this is 24. You'd think they'd have someone online now.
So I rule-- I'd probably say where it's lacking is in Australian supports times. It's lacking in deposit methods. But where it's great is that you can deposit in Australian dollars, trade in Australian dollars. It has all the assets that you can think. It's a very trustworthy platform, run by the same guys that run TradeRush.
So let me know what you think. Comment on the video on YouTube. And until next time, may all your trades be profitable.