Redwood Options has been one of the fastest-growing binary options brokers in a quite some time. An impressive feat in a market which is now crowded with well over 200 competing firms. Redwood was able to establish a formidable client base very early, including some influential voices in the industry. The positive word-of-mouth in the binary options trading community, and the support of those influential industry voices combined to create a highly favorable atmosphere for Redwood to grow in. And grow they did. But that was then and now is now. How does Redwood binary options trading measure up against the competition in today’s market, with over 200 brokers to choose from? Binary options Bosses? Or just your average Bums? We lay it all out for you in the following Redwood Options review...
Redwood Options Review
Website Address: http://www.redwoodoptions.com/
Company Launched: March 2013
US Traders Accepted: Yes
Account Currencies: USD, GBP, EUR, JPY
Redwood Minimum Deposit: $200 (or EUR, 20000 JPY)
Minimum Trade Sizes: $5 for 60-Second and $25 for High/Low
Deposit Bonus Available: Yes – Up To 100%
Redwood Demo Account: Yes – Free Demo Available (see below for more)
Trading Platform Technology: SpotOption Based
Redwood Binary Options Trading Platform Information
The Redwood binary options platform offers a total of five (5) different ways to trade. There is, of course, the standard high/low binary option, and then one-touch binary options, 60-second options, custom build option contracts, and the pop-out options chart pictured above, which allows for using the “close early” trading feature. And actually, if you count pair options contracts that would make for a total of six trading options. Four is about average for the industry. And we have seen as high as eight.
The Redwood platform is very clean and easy to use, but so are most other good binary options platforms. One thing which we did notice during our time at Redwood for this review was that there was rarely any lagging, and even more rarely any “prevented” trades (something that can be a real problem at lower quality brokers). By “prevented” we simply mean that when you go to place a trade with your binary options broker, instead of it going through you get a message saying it cannot be completed. Some brokers will do this so often it seems like it is simply whenever they feel the odds are against them. So the fact that it almost never happened in our thirty-days at Redwood is a pretty darn good sign.
Redwood Binary Options Platform Features & Highlights
- Up To 81% Returns For 60-Second Contracts (highest in the industry we’re aware of)
- Roll Over, Double Up, and Close Early Trading Features
- Up To 600% Returns For One-Touch Options
- Offers Pair Options Contracts
- One of The Highest Underlying Asset Counts @ 150+
- High Average Return Rates
- Reliable, Lag-Free Platform
- Very Few Trade Cancellations
Redwood’s strongest area is probably their overall selection of trading options. Between the good contract variety and the outstanding asset selection we were always able to find something worth trading on. Another strong area for Redwood is in return rates, which is a good area to be strong in from a traders perspective. They offer the highest rates we know of on their 60-second options, and among the highest on the weekly one-touch variety. A Redwood disadvantage, however, may be that there is no daily one-touch option trading. Most brokers offer either daily one-touch, or weekly one-touch, but not both. Redwood chose to go with the high-yield weekly version.
Redwood Options Demo Account Details
Activating your free Redwood Options demo account is as easy as can be actually. All you have to do is follow any of the links to their website, and then register for your free trading account. No deposit is required at this point. As soon as you have registered your account then you simply send the customer service agents a short message containing the code “RED DEMO” in the headline or body of the message. And that’s it! Once you have followed those easy steps the folks at Redwood will do the rest and will have you set up with your free demo account in no time!
Redwood Options Review Video Introduction
Redwood Options Customer Service and Reputation Review
We have trader with and reviewed Redwood twice now since they first launched, and we have always had very good experiences with their customer service team. And we have put them through some fairly brutal tests over that time. All of them fictional problems just to see how they would handle things. This seems to be pretty across the board as these are the same sort of experiences others report as well.
In the world of financial markets speculation, “customer service” for brokers must also include some forms of education for their clients. This is especially true in a lesser-known market niche like binary options trading. So, when doing any of our reviews we always take a close look at the education materials and strategy help that a broker makes available to its clients. Brokers have largely caught on to this client demand and most offer at least some form of education. But Redwood does an especially decent job here. The few video courses captured in the image above are just the tip of what they have to offer. From an introductory binary options trading guide, to the video courses, a video academy, and even one-on-one couching, Redwood Options makes a great effort at providing quality education to their traders.
Redwood Options Reputation & Reliability Report
Redwood actually has a great reputation in the community, but they do lack that long-established history that we usually look for in our favorite brokers for this industry. Obviously we feel that a broker with a years-long track record for stability and reliability has a better indicator for quality than one with a history of only a few months. However, things are not quite that straightforward in Redwood’s case. You see, Redwood happens to be owned and operated by the same successful parent company that owns Traderush (who also offers a demo account), our all-time favorite broker. This backing by a company which does have a years-long, established history for reliability and outstanding overall service gives Redwood a major leg-up in this department.
When it comes to serious Redwood Options complaints, or accusations of a Redwood Options scam, you can try all you might to find any supporting evidence for either and it will surely be for nothing. We tried quite hard ourselves so we should know. We found nothing but some scattered, minor complaints by what appeared to be disgruntled former traders who are angry that they lost their whopping $100 deposit…cry us a river.
Redwood Options Platform & Service Conclusion
At the beginning of this article we asked the question of whether or not Redwood had kept up with the fierce competition? Were they still binary Bosses? Or had they fallen to the level of average Bums? We now feel like we can answer that question pretty definitively. Redwood Options can still easily keep up with the very best in the business and there can be no doubt that they are confirmed binary options bosses. Redwood Options is a solid choice of trading platform for any binary options trader and is definitely one to consider for your short-list.
The Bosses Overall Redwood Options Review Rating = 4.5/5.0 Stars = Binary Bosses!
Please feel free to comment below or contact us if you have any experience with this or any other broker which you would be willing to share with the community!