WMoption is a new player on binary options scene, also available on South African market. Online since 2016, WMoption is owned by the TLC Consulting Ltd.
To their registered traders, WMoption offers excellent trading journey and for that reason, we decided to test the platform in order to provide detailed WMoption broker review for our South African readers.
For more about available trading accounts and platform itself, read below our WMoption broker review.
WMoption Trading Platform
WMoption broker uses SpotOption software, a leading software provider in binary industry. For this WMoption broker review, we learnt how they offer a long list of trade options, both short term and long term, such as 60 Seconds, High/Low, One Touch, Pairs, Long Term, Ladder Options and SpotFollow.
Also, a variety of expiry time are on traders’ disposal, including 60 s, 90 s, 2 min, 5 min, 15 min, 30 min, 1 hr and end of day/week/month.
Minimum deposit amount is $250, according to our WMoption broker review. Maximum payouts go up to 77%, while bonus is unlimited. Lowest investment is $5 and highest investment is $3000.
This broker accepts only USD and EUR. South African traders should keep in mind how selected currency at depositing has to remain the same as for withdrawal of funds.
Tip: Trade with IQ Option instead, the best regulated broker for South African traders with a minimum deposit of only $10!
WMoption Trading Features and Services
Before writing this WMoption broker review, we discovered how they offer a selection of different trading instruments and services for profitable trading experience. As two well-known features, WMoption presents South African Rollover and Double Up.
With Rollover, traders in South Africa can postpone time of expiry of a chosen asset. In case they feel a trade will turn out to be a loss, they can activate this Rollover feature and turn possible loss to a money gain. To be valid, Rollover has to be executed at least 30 minutes before expiry.
As the word says it, Double Up feature can be activated when South Africans are certain that the trade will be a success so they decide to double the trade. Traders should know how the second, doubled, trade has to be done under the same conditions as the initial one.
As a popular feature we noticed in WMoption broker review is the fact they offer mobile app for their registered traders, especially those busy ones.
This app is connected with Android and Apple devices. On the platform, traders can click on it and will be redirected directly to the WMoption mobile app.
On this app, traders can use same login, just as on web based platform and use a selection of options to trade binary options with a success.
However, our WMoption broker review shows how they don’t offer demo account for better trading experience and possibility to practice and test the platform first. We find demo as a valuable feature that is useful in the trading process, especially for traders beginners.
WMoption Trading Accounts
WMoption broker review revealed us how they offer 5 live trading accounts for traders in South Africa to choose from. In this part of review, we will take a closer look of each account type and list available trading characteristics.
WMoption Rookie Account
This account is created having in mind new and inexperienced traders. In Rookie account, deposit amount is the lowest; $250. 20% bonus is included in this account.
WMoption Basic Account
With minimum deposit of $1000, South Africans can join this trading account. Features included in Basic account are: welcome bonus 35%, extra payout 1% and minimum trader points to get benefits 5.
WMoption Silver Account
This trading account starts with $5000. It is designed for traders who want to bring their trading knowledge to a higher level. With Silver account, traders will have on disposal a personalized customer support from senior WMoption manager.
Characteristics of Silver account are: welcome bonus 50%, min. trader points to keep the benefits are 35 with extra payout of 1%. Deposit amount is $5000. Priority line with senior manager is a part of this trading account.
WMoption Gold Account
This trading account is mostly used by pro traders who want to have more personalized approach to binary options trading. With all benefits from previous accounts already included, Gold account is actually completely custom-made account.
Minimum deposit is $25 000. South African traders can get 70% welcome bonus, extra payout 1%, fixed spreads 2-4 with max.position of $3000 in binary options. Direct line with personal manager is also included in this trading account.
WMoption VIP Account
This account type is fully intended for professionals in binary trading who want to invest higher amounts of money to reach higher payouts and boost their trading.
VIP account is exclusive and provided by the senior account manager to South African traders. Bonus of 100% is available, same as additional payout of 2%. Minimum deposit to get VIP account is $100 000, and max. position is $5000. In case of any assistance, traders will have access to priority phone line with senior account manager.
WMoption Customer Support
Customer support service differs excellent broker from bad one. Therefore, we were pleasantly surprised in WMoption broker review how they offer an amazing support for all registered traders, including those in South Africa.
It is possible to reach WMoption broker via several channels: live chat, email on [email protected], web form and phone.
Having excellent support is important because it offers traders a feel of security when trading. They can ask for assistance if necessary.
Traders in South Africa can contact WMoption broker on +27 213 009 275. Other countries available on phone are: Norway, Netherlands, Ukraine, Australia, Bulgaria, Finland, Canada, Nigeria and Malaysia.
Platform is available on English and Arabic, at least for now.
Also what we were happy to see for WMoption broker review is an excellent Education Center. It consists of:
- Academy (economic calendar, trading tips and winning tactics)
- Guide to successful trading (introduction guides, webinars, how to? articles and detailed explanation of what Ladder options are)
- WMoption TV
- FAQ for open an account, support, platform, deposit and trading
WMoption Banking Info
This broker tries to ensure traders in South Africa a secure trading journey, thanks to SSL encryption technology, which encrypts traders’ personal and financial data.this broker also accepts payments via many different ways, such as:
- Debit and credit cards – Maestro, Mastercard, Visa, Visa Electron, Diners Club and American Express
- Wire transfer
- E wallets – Neteller, Skrill Moneybookers, Yandex.Money, WebMoney, QIWI, CashU and Delta
There is no fee charged for withdrawals. To make a withdrawal, traders first have to send WMoption broker copy of ID card and proof of address to confirm identity. Estimated time for fund withdrawals are within three business days.
In case of any assistance, South African traders can contact WMoption broker via any of available options and ask for guidelines regarding payment or trading itself.
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