Opinion about OptionRally

IMPORTANT: Trading with binary options has recently been banned. However, in our domain you will find an entry with the best online brokers of 2021 to help you choose a portal that suits your needs while ensuring secure transactions and operations.

To find out if OptionRally it is a scam, we have carried out an analysis of the guarantees offered by your CySEC license, as well as the obligations that the company must fulfill to retain said license. As a conclusion, we can say that in we are not facing a scam.

With this broker you can invest in binary options in a simple and intuitive way. In the following sections we will give our opinion on the most important aspects of the company's service. In this way, we hope to help you get a better idea of the services you can get before opening an account. Let's get to it.

Our experience with OptionRally

Investing through this website is really simple. It has a nice design that allows you to easily find the assets you are looking for. The website is available in English, Turkish, Russian, Arabic, French, German and New Zealand. However, not all sections are translated, so investors in our country should have a basic knowledge of English if they do not want to have any problems using it.

Next, we will see why we claim that it is not a scam, starting from the fact that this is a licensed broker. Remember that on our page about binary options brokers , you will find other reviews about the best brokers in the New Zealand market.

Is OptionRally a scam?

For users who are familiar with online brokers, the fact of having a license from the Cyprus financial authority is surely something familiar. However, for users with less knowledge, this could turn out to be suspicious.

But the truth is that it should not be, no matter how beneficial Cypriot taxation is for companies, Cyprus is still a country of the Dollarpea Union and, therefore, its companies must comply with Community regulations for investors. In the case of investment, having a CySEC license implies, among other things, the duty to respect the provisions of MiFID, and the possibility of offering its services throughout the Union.

Other factors, less important to know that a website is not a fraud, are having a physical address, which you can consult in the table above, and an easily accessible customer service. In this case, the broker not only offers us these two small guarantees, but also registered with the CNMV New Zealand with the number 3659 in February 2014, which allows us to be sure that his physical address is real. In addition, this registration makes the CNMV issue alerts and notices in the event that the company fails to comply with its obligations.

Among others, the most important obligations of an investment platform like this are to ensure that everything possible is done to avoid conflicts of interest and, when these occur, try to avoid human intervention of employees. The other important obligation is that the most favorable execution is always made for the client, once his order to operate has been received.

Investment offer

The main offer of this platform is investment in binary options. About it, we will give you the details in the next section, where you will see that you can invest in stocks, currency pairs, commodities and indices. In addition, from it there is an educational section in English. In it you can register for three webinars, which are held regularly in which the most basic concepts of investing are explained; download some ebooks that you can find on the web or ask your account manager, watch some short videos and even receive personal assistance. But let's not kid ourselves, the training available, while interesting, is very basic. You will also have access to live charts, to perform the necessary technical analysis prior to investment decisions; to an economic calendar and, perhaps in the future, because at the moment they have the section prepared on the web, but they do not offer the service, to an analysis of the market by an expert.

Binary options trading

Now that you know the general offer that you can access, let's focus on the underlying assets of binary options, so that you get an idea of whether it is a suitable option for you.

If we start with the forex market, you should know that you have 30 currency pairs among which are the NZD/CAD, NZD/AUD, NZD/CHF, NZD/GBP, NZD/ILS, NZD/JPY and of course the NZD/USD. You can also invest in 3 commodities such as gold, silver and the gold/silver pair. The indices are 4, but it is positively surprising that one of them is the IBEX 35. Finally, the available shares are 9, two of them New Zealand: Telefónica and Banco Santander.

Expiration times are every 30 minutes. As a complement we have the long-term options, in which you can choose investment terms that reach until December of this year, and short-term with terms to 60 seconds, 90 seconds, 2 minutes, 3 minutes, and 5 minutes. You will also find the possibility of investing in one touch and ladder options, as well as the possibility of automatically copying the operations of other traders. But as usual, we do not recommend this option since the information available from traders does not seem sufficient to us.

Welcome bonus

Due to the increasingly restrictive requirements of the CySEC, the company has withdrawn all its bonuses and right now, only users who already had a bonus, before the CySEC changed its requirements can enjoy them. We don't know if this is something that will change in the future, or if brokers will discover a new way to offer promotions, which is in accordance with regulations and their interests. In any case, we will remain attentive to the changes and if the broker offers a bonus again, we will analyze it here.

OptionRally payment methods

You can deposit money via bank transfer, e-wallets such as Neteller, PowerCash, Skrill and SafeCharge and credit and debit cards. The minimum deposit allowed, both for the first time, and for the following ones is $250.

Withdrawals have a lower minimum amount, of only $ 100, something that is to be appreciated. The company handles withdrawal requests on the same day if they are received before 15.00 GMT or the next day if they are received after. The first time you will have to go through the know your customer process, which will involve sending them copies of your ID and some other documents, to prove your identity, postal address and bank account. In this way, the company ensures that no one can withdraw the money without your consent.

The money must be taken out to the same account from which the deposit was made. This requirement is so, to prevent illegal money laundering. Usually, the deadlines range from 5 to 10 days. Finally, keep in mind that, in principle, they will not apply any fee to you, but depending on the circumstances they reserve the right to charge a fee ranging from $3 to $25.

OptionRally Safety and regulations

We already know that OptionRally is not a scam, but even if it is not, it might not be a safe company in which to deposit our money. Beyond scams and frauds, investment companies can fall into bankruptcies or other problems that compromise client funds.

For this reason, CySEC requires companies that hold its license to be part of an investment compensation fund. This fund would return the money to the users of the companies that are part of it, in the event that said companies do not comply with the obligations arising from the license. In other words, in the event of insolvency, the broker refusing to pay or committing some other negligence, the fund would be responsible for giving each client his due. The only thing that should be taken into account is that the maximum limit of money that could be obtained through the fund is $ 20,000.

In addition to this, in our opinion, there is another basic security aspect that is also fulfilled here. We are referring to the SSL encryption of information when monetary transactions are carried out, either withdrawal or deposit, through the company's website.

For all this, we consider that it is a safe company, in which you can deposit money with peace of mind.

Customer service

The customer support service is very well organized and has different email addresses for technical problems, related to deposits, with withdrawals or to make suggestions or questions to the training department. The hours coverage is not bad at all, because it goes from Monday to Friday from 7 in the morning to 7 in the afternoon GMT, which means one hour less in New Zealand. You can also contact them by phone, even requesting that they call you, or through the contact form. Although it is true that they do not have a live chat, as a complement to their support service, they have an extensive help section in which they answer most of the frequently asked questions that may arise, clearly and simply. Since the immediate attention is covered with the phone, we think that's enough.

Functionality of the website

When we enter the website of this company we quickly realize that it follows the predominant pattern of binary options brokers. An attractive website with a marketing that has been decreasing in aggressiveness with the tightening of the CySEC. In this case, although the website is in New Zealand, many sections are untranslated. Therefore we only recommend this operator to those who do not feel uncomfortable, browsing a website in English.

As for the investment, it offers us the classic central box with the asset, and two large buttons on the right for call and put. You can easily change the underlying, thanks to the tabs available in that same investment box. The platform allows you to automatically do an analysis of moving averages, Bollinger bands and RSI in just a few seconds. We don't think we should base our decision exclusively on one of these analyses, but it can help.

Mobile application

In the mobile apps section, the broker has things to improve. There is no mobile app for Android, whose users will have to settle for the mobile version of the web, which on the other hand allows to operate perfectly. As for Apple users, they do have an app available to them, but it has not had updates since 2014, so we doubt its support. In our opinion, the best thing is to choose to enter from your trusted browser either from a mobile, a tablet, a laptop or a desktop computer.

Finding

OptionRally is a legit broker, we can be sure that it is not a scam and it is a good opportunity to invest in binary options in a simple way. In our opinion it has two important problems, the mobile apps that we think it is better not to use, and that the website is not fully translated into New Zealand. The underlying offer may be somewhat scarce, but it includes the IBEX 35 and a couple of shares of New Zealand companies, which is more than many other brokers do, with much broader offers. As far as investment is strictly concerned, it is a company licensed from a country of the Dollarpea Union, which has the obligation to keep your funds in segregated accounts and should not give problems. We think it is a good broker to start with binary options and limit yourself to a few assets. When you have more experience, you can try another one with a larger supply of underlying.