Redwood options is a binary options trading brokerage that has been serving the community since 2012. Currently ranked #4 on the best binary options brokers list it has positive and negatives.
In my review today I’ll be taking traders through these aspects in detail. I’ll make sure that you know everything you need to before you decide whether or not it suits your needs.
Redwood Options Review
I haven’t been with redwood options as long as the other brokers I’ve reviewed in the current top rated list but I’ve been happy with the service I’ve received thus far. The support team has been very responsive and have handled all of my issues in a professional manner.
One of the tests I do with every binary options broker is create a fake problem. I tell them that a trade has froze on me or that I won a trade I really lost and try to gauge their reaction. In this case, redwood were very helpful and actually offered to take responsibility which rarely ever happens.
I am also a big fan of their web-site design. It’s very clean and allows traders to focus on the trading platform which is clearly the most significant part.
Redwood Options Information
Redwood options currently provides 60 assets which is lower than most brokers in this market. They provide returns from 70-81% and were founded in 2012. Like most brokers I prefer they use the Spot Option platform and require a minimum deposit of $200.
They are currently not accepting US traders and they are not regulated. They also provide no access to a demo account and their bonuses go up to 100%.
One of the more under looked elements regarding redwood options is their 81% payout on 60 second options. While I am adamantly against 60 second trades because I feel there is no real strategy involved this high payout level does provide a better probability of earnings from these types of trades.
If you are a 60 second trader then I would recommend redwood above all the other brokers, but as I said before, don’t trade 60 second binary options, it’s a gamble.
Moving on, redwood provides a handful of free educational videos for their clients. I suggest that if you sign up with them that you watch these videos. The first two videos do a great job at giving traders a general idea of how the market works.
Wrapping Up
Redwood Options provides traders with a stable environment to place trades. Are they the best on the market? That’s up for debate.
I will say that they are certainly in contention.
The only negative about this broker is that they claim to be innovative but seem to be in line with the rest of the binary broker community. There is nothing wrong with this of course but don’t expect anything special or unique.
I hope this review helped you get a better understanding of the broker. Please spend more time on Binary Today learning about the community and what we have to offer.
got that withdraw from redwood options day 10 they got right on time got me some vacation money so redwood options got my vote
I am using redwood options I have made a profit and decided to make a withdraw they approved the withdraw day 8 haven’t seen yet but did email did get a email back say takes up to 10 days we shall see if they are good on withdraws will update when day 10 comes
Hi John,
I thought I better share my experience with Redwood Options. It is not a good one. On Oct. 17, 2013, I deposited 250.00 with them. I was new to BO then and did not trade with them because i wanted to gain more experience. Over the course of 6 months or so I checked back on my account. To my astonishment the balance was 13.50!!!!! Without placing a trade, I virtually lost all of my money. Someone had traded my account down to practically nothing. I suspect someone from RO did the trading. Looking at my account history, I see the initial deposit and today’s balance, 13.50 with NO other transactions listed. How do explain that?!! I have contacted them and they say they have no knowledge of what happened. Of course, I don’t believe them and would never trust them again. So traders Beware!!!!
Hi John,
I do appreciate these reviews on brokers for I do get the impression some 2/3 ‘ rds of unregulated brokers will not follow through on withdrawals. Do have a question about your review a year ago on Citrades. How did you cope with the 10X turnover on volume of your deposit before they will discuss withdrawal. This is something outrageous and unprecedented in the industry. Possibly, you need to revisit the review.
Also, I am an American. We are rather discriminated against. Possibly, this has to do with withdraw problems. Americans do believe and enforce a fair playing field for all. I really do not understand how binary industry can be so unregulated and corrupt. Only the shrewd survive …
Sorry, to be on my podium but I do hear and see so much fraud in this arena. Nothing personal. In my own way I am complimenting you on your ethics and independence from everyone else. Later ..
Hi Harley, I’ll take a look at my CItrades review, haven’t been with them for a while now.