We were recently offered the opportunity to take a risk free look at the binary options investing app called anyoption and it was an intriguing experience to say the least. Anyoption users add their own money to an account and use those funds to guess if the assets will go up or down over a small duration of time. During our trial we were given play money to use which took the pressure off our shoulders and gave us some slack as we got familiar with the app and style of bidding for binary options.
What is binary options trading?
This type of trading requires little decision making, a simple UP or DOWN about whether or not an asset like gold or silver (there’s tons more assets these are just examples) will increase or decrease from the previously marked value. There are small time periods or rounds, like 20-30 minute windows, in which your bid is valid and with anyoption even your losing bid is a winner. It’s best to watch the performance of the asset for as long as you feel comfortable before making a bid.
Why the anyoption app?
The anyoption app is simple to use, but they have a feature in the app that will connect you to a service rep should you run into any issues. We haven’t used the app for 30 days, but apparently you can make a withdrawal once a month without paying any penalty fees. Anything above that comes with a fee so make sure you’re ready to claim your cash for the month and avoid unnecessary fees. The app is straight-forward and adjusting your bidding level is simple, but tempting to increase to large amounts. With our first six bids we were able to get five out of six correct and the return was $2000 above our starting amount. We went bold with our fun money, but that’s not recommended with really dollars unless you’re confident that you know what you’re doing.
Public Announcement: Use this app or any trading service responsibly and at your own risk.
The user interface is fairly familiar and easy to figure out. There’s around 130 assets to wager on like currency rates, precious metals, stocks, and more. To be clear, you’re not buying stock in these assets. With the anyoption app you are deciding if asset will increase or decrease at the end of the time window. Some rise and fall consistently while others fluctuate often, but neither are 100% predictable. That’s where the risk comes into to play.
Pros about anyoption
Although we haven’t tried any other binary options trading apps, the anyoption app is easy to learn and use. The app is also very handy for watching the trends and there’s even an percentage bar at the bottom of which way other traders are casting their vote. The app has a built-in “call-for-service” button which connects you to a representative that will try to help you through errors you may encounter while selecting your trading options. Even on losing bids anyoption returns up to 25% of our bid. Winning bids can net a return up to 81%. We like that the app prompts the user with a login window when opened, but there is the option to remember the login for those who want to add another risk on the table.
Cons about anyoption
My only real gripe is that anyoption isn’t available in the US. After doing a little research it looks like the company decided to stop accepting US members/customers. This shift may have something to do with regulations and the commission anyoption is licensed under. It’s probably less of a hassle to deal with this heavily regulated country.
Conclusion
Anyoption can be a good tool for trading on the go. There’s no proven best formula for bidding and with real money you are basically taking a gamble so we say, “Be careful with your money and know when to cash out.” By “cash out” we don’t mean withdraw cash frequently just take your time and make the best decisions you can within the allotted times. There’s a minimum deposit of $250 to get started and investments must be $25 or more.
