GC Option is a legally registered binary options broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.
GC Option accepts clients from all over the world, excluding some countries where restrictions apply.
Binary options broker offers the following underlying assets for trading.
|25+ Currency Pairs
|Based on major world currencies.
|2 Metal BOs
|Based on Gold and Silver.
A spin-off of the well-known forex broker Grand Capital, GC Option is an offshore-based binary options broker registered in Saint Vincent and the Grenadines, but not regulated by any government authority.
Under its parent company Grand Capital, this is a broker that has been in the industry since 2006, and is thus a very well-established company. One of the benefits of using these older and more established brokerage companies is also that they are keen to protect their reputation, and therefore are more likely to live up to their obligations to you as a client.
Given that GC Option is part of the larger company Grand Capital, the options part of the company shares office space and other resources with its mother company. Thanks to this, it’s possible for users from a whole range of countries to contact the broker’s local representative offices in their country for assistance and customer support on certain issues.
At the time of this review, the broker has representative offices with local contact details in Azerbaijan, Brazil, Burkina Faso, Columbia, Côte d'Ivoire, Ecuador, Indonesia, Malaysia, Namibia, Nigeria, Senegal, Ukraine, Uzbekistan, and Vietnam.
In terms of assets offered as underlying for binary options trading, GC Option has a smaller selection than some other binary options brokers on the market, with only forex, gold & silver available. However, as binary options traders know, this type of trading has less to do with the underlying assets anyway, and mostly depends on an ability to read the chart and make short-term predictions based on it.
The binary options from GC Option can be traded on either the classic MetaTrader 4 (MT4) desktop-based platform, or on GC Option’s own web-based trading platform, which is available as both a “Pro” version and a “Classic” version.
Among these platforms, the web platform is by far a more simplistic platform than MT4, making it easier to learn and start using for new traders. However, the platform also has much more limited functionality, and more advanced traders may find that they don’t get access to all the tools they are used to on this platform. For the more advanced traders, MT4 is therefore probably the best choice, although it is not very commonly used for binary options trading.
Once signed up as a new user on GC Option, clients will have the choice between three different types of trading accounts:
– Silver, with a minimum deposit of USD 10
– Gold, with a minimum deposit of USD 100 and access to trading on MT4 with trading signals
– VIP, with a minimum deposit of USD 300, MT4, trading signals, and a dedicated personal analyst
All of the trading accounts can easily be funded with a whole range of payment methods, including bank transfer, credit & debit cards, a large number of e-wallet services, and the cryptocurrencies bitcoin and ethereum. Among these payment methods, cryptocurrencies and all of the e-wallet services are processed completely free of charge by the broker. Be aware, however, that when making withdrawals, GC Option charges a processing fee of between 0 and 3% on many of the same payment methods.
All in all, we believe GC Option is one of the best-known brand names in the world of binary options trading. Under the brand Grand Capital, this brokerage has been around for a long time, and therefore has a certain reputation to protect. With that said, however, GC Option - like many other binary options brokers - is completely unregulated, which may represent challenges for some.
Providing the MT4 platform for binary option trading is a big plus. Cryptocurrency payment method is another good point.
Here are my thoughts about GC Option:
- You can use MT4 for trading Binary, that's a big plus, as you can install any indicator or any EA
- Acceptable minimum deposit amount ($10) and minimum trade amount ($1)
- American Options
- Trading is closed for 2 hours during the night
- Short list of payment options
Other than that, I am more than satisfied with this platform.