UPDATE Jan 2015:
Redwood Options is the latest broker to stop accepting US customers. This is generally an indication that a broker is on the path to regulation. In late 2014 Redwood updated their platform to SpotOption 2.0. The new platform has many advanced features such as colored charts, long term options, 30 second options, pair options and Ladder Options.
Redwood Options was established in early 2013 and and is one of the newest SpotOption brands. They claim to have incorporated many of the best qualities of the other other top brands such as TradeRush and iOption in terms of professionalism, performance and service. In our review we will see how Redwood measures up with some of the other top brokers.
Summary of our Redwood Options Review
Payout % 81%
Minimum Deposit $200
US Friendly No
Demo Account Yes
Bonus 20% - 100%
Currencies USD, EUR, GBP, AUD, CAD
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No. Assets 100
Asset Classes Stocks, Currencies, Commodities, Indices
Trading Features Standard, Option Builder, One Touch, 60 Seconds, Pro Trader
Software Platform SpotOption
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Customer Service: Their support team is available 24/5 in multiple languages. I found them very helpful and responsive when I contacted them. They can be contacted through phone, e-mail or live chat.
Deposit/Withdrawal: As with most brokers credit car deposit and withdrawal went smoothly.
Trading/Execution: Trading and execution was satisfactory.
Features: Redwood has a full range of trading choices including 60 Second Binary Options, One Touch Option, Pair Options, Roll Over and Double Up.
Trading Education and Market Data
Redwood will provide you with your own personal account manager, an experienced trading expert who gives you tips about how to improve your trading performance.
They also provides you with daily, weekly and monthly news updates, as well as financial charts.
Another important advantage to Redwood is that they use the SpotOption trading platform which received the first CySEC binary option license, ensuring a highly secured website which adheres to Cyprus financial regulations.
To take a look at Redwood and explore their platform Click Here.
Redwood Options Details
Assets Available to Trade: Assortment of 21 Stocks, 13 Currency pairs, 8 Commodities and 19 Indices.
Currencies Accepted for Deposit: USD, EUR, GBP, JPY
Minimum Deposit Amount: 200 USD, 200 EUR, 200 GBP, 200 JPY
Minimum Trade Amount: $10
Deposit Methods: Visa, MasterCard, AMEX, Maestro, Moneybookers and Wire Transfer
Withdrawal Time Frame: Up to two business days to process the request
Support: Redwood has 24/5 Live Chat, customer phone support and Skype support available in English, Spanish, French and Japanese, with support in Russian as well. Trading platform is translated into English, Spanish, French and Japanese.
Bonus Structure: Deposit bonus varies per customer. Check with Customer Support before depositing to confirm bonus offer.
Redwood Binary Options Scam
RedwoodOptions.com have been the fastest growing binary broker of 2013 and one of the fastest we’ve ever seen. Is Redwood legit or are they a scam for US traders? The service our traders have received has been excellent and they definitely are US friendly. So with no complaints and so far only good experience we’re feeling good about this broker. We’ll keep an eye on them and let you know.
Redwood Platform Trading and Features
When you click the Trading Platform tab on the Redwood homepage, you will see a trading screen. The Trading Screen shows you 5 different trading choices: Binary Options, Option Builder, OneTouch, 60 Seconds and Open Platform (Pro Trader).
Binary options trades are standard Call/Put trades. The default trade screen displays the Binary Options Top Picks, which includes 3 Binary Option Trade boxes.
Just select Commodities, Currencies, Indices, Stocks or Pairs by clicking on one of the tabs. You can choose whatever binary option trade you like at all times by clicking on the drop down menu in each trade box.
Redwood offers the following Trading features:
You can set your trade settings and view the trade risk.
An advanced, professional chart depicting important data about various binary options you may wish to trade.
One Touch Trading
You can predict whether a stock will reach a specific price during a certain period of time. You don’t have to wait for the expiry time to be in-the-money; once the price of the underlying asset has been reached, you’ve earned your profit right away. With Redwood you can earn up to 500% on One Touch trades.
60 Second Binary Options
60 Second Binary Options are standard Call/Put Binary Options with a short 60 Second expiry.
When trading 60 second options, you can choose to double your investment with the Double Up feature, or you can use the Rollover feature to add time to your trade for a commission.
To find out more about Redwood or to open an account Click Here.