RedWood Binary Options – Video by Binary Platform Review
Redwood Option is a broker from the UK which was built on the platform called SpotOption. It is operated and owned by Red Tulip Consultants who have made this quite decent broker. When accessing the website, you will realize that it offers numerous features and at a more detailed look, you will see the option called “iFollow”. In addition, for less experienced brokers, it offers different video materials (courses, webinars or live trading groups) making it a perfect option for copy trading.
Apart from Forex, Redwood Option offers the possibility for trading commodities, indices and stocks. In addition, the platform consists of all possible types of trading. You can try One Touch, Pairs, and Ladders options. The highest payout, 81%, is offered by Ladders. In terms of banking, the structure is standard. Deposits can be made using a credit card, wires or eWallets.
When opening an account the minimum deposit necessary is $200. Also, you can start trading as an investor from $10 minimum making money management easier for you. In case you want to withdraw money you can take out minimum $100 without any additional fee. However, this option is only available in case you use the wire transfer method. If you go for any other option available, take into consideration a cost of $25. Each withdrawal takes up to 15 days, therefore you will need to have mountains of patience. In terms of bonuses, the platform is really generous. For instance, when making the first deposit, bonuses range from 30% to 40% depending on the deposit amount. Together with bonuses come also other benefits like access to live trading rooms or invitation to webinars.
Being built on the same algorithms as Zulutrade, Redwood offers one of the best copy trading experiences from SpotOption. As mentioned above, copy trading can be done through its feature called “iFollow”. When analyzing the brokers, the information available is listed based on the asset. Also, the trader will be allowed to see the signal provider’s success rate, the number of followers and positions together with its profit. On top of that, before following a certain signal provider, there are provided some following settings. As a consequence, you can choose first of all the following period. The minimum period is one day and it can go up to one year. Also, the trader can set the investment per trade, starting with $50 and ending with $3,000. The same range is available also for investment limit which represents another feature of iFollow.
In terms of social trading, the platform does not offer any possibility to interact with the signal providers you want to follow. There is no forum, chat or private message option, but this is not necessarily a deal breaker as the internet is full of forums where you can meet other signal providers trading on Redwood Option.
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