As a trader, if you are searching for an online binary trading platform, then choosing Redwood Binary Option would be a fantastic idea for you. The trading platform offers different trading choices, superior return and lucrative bonus for the traders. Hence, in one word, this new yet quite eminent platform is quite good for the traders. However, some pros and cons always remain, especially when it comes judging a trading platform minutely. Similarly, Redwood has a number of advantages and limitation; through this article – we will try to explore those:
Opening an Account
Opening an account in this trading platform is really easy and simple. You need to place your name, email address and phone number. Then, select your base currency to start trading. Different currency options are there, like – US dollars, Euros, British Pounds, Canadian Dollars, Australian dollars, etc. So, no matter from which part of the world you are, you can join this platform and choose your desirable currency.
Open an account and fund the account to start trading. Withdrawing fund is simple and to do that you need to be affiliated with Paypal. Those who do not possess Paypal account can go for wire transfer. Through this method, funds will be deposited to your bank account directly. This is even simpler and hassle free. There is another option present too for aiding the traders. Through Credit care you can withdraw your funds. Depositing funds in your trading account is easy and common – just like the other websites. You need a credit card to deposit funds in your trading account. When, the money is there, you can start trading with that.
The Trading Process
Redwood offers you a large number of trading options, starting from a large section of stocks, indices to a wide number of commodities. Hence, you have a handful of options, thus you have more chances of clinching more money through this. Trading with Redwood needs a bit experience and expertise in this field. This not at all a suitable platform for the fresh traders! However, streamlined traders would love to have a go with this. This is an excellent place where you can trade with precision, meticulousness and confidence. For brokers, it offers one touch and 60 seconds options. Downfall is low as that is why the platform is pretty safe for trading.
Redwood mostly meets the needs of the traders and that is why it is a good platform and can be rated as 4 out of 5. Ample of advantages are there for beginners, as well as for seasoned pro.
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.