PrestigeOption Broker Review

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a Complete Guide for Binary Options Trading

Prestige Option is a relatively new binary options broker on the scene, owned by Leadtrade Ltd, a company registered in Cyprus. As always, the first step when assessing a binary options broker is determining whether or not it is regulated, with the most common regulator for binary options broker being the Cyprus Securities and Exchange Commission (“CySEC”).

In Prestige Option’s case, it is regulated by way of Leadtrade Ltd which is a registered Cyprus Investment Firm (“CIF”) with license number 296/16. If you look on PrestigeOption’s website, you will note that they mention that Leadtrade Ltd is also registered with other financial regulators such as the Financial Conduct Authority (“FCA”) in the UK, Consob in Italy, the AFM in the Netherlands, BAFIN in Germany, and the AMF in France. You should be aware that being registered is not the same as being regulated, in the case of Leadtrade Ltd only CySEC regulates it, but it is registered with the aforementioned entities. Registered means that it is ‘EEA authorized’ meaning that is registered in a different country but is authorized to provide certain services in the registered country and has met minimum standards agreed upon across European Economic Area countries. As an example, you can view Leadtrade’s FCA registration information here.

Since we recommend trading with regulated brokers, Prestige Option gets a pass on that mark, and the fact that they are also registered with many other financial regulators is an additional bonus. As such, this broker passes our quality test and we can definitely recommend it as a good option for binary options traders. Find out more in our full review below.

Basic information:

Online since: 2020
Software: TradeSmarter
Max Returns: 88%
Minimum Deposit: $250
Bonus: 100%
Minimum Investment: $10
Maximum Investment: none
Currencies: EUR, USD
Mobile: Yes
Countries: All Countries

– licensed by CySEC
– many deposit and withdrawal options
– various account features

Binary Minery Rating:

Prestige Option Account Features

Prestige Option offers six different account tiers, each with their own minimum deposit amounts and bonuses, which we have summarized below.

  • Bronze – EUR500 minimum deposit. 25% bonus and economic information.
  • Silver – EUR5,000 minimum deposit. 50% bonus, economic information, 2 training sessions, weekly market review, and basic training videos.
  • Gold – EUR10,000 minimum deposit. 75% bonus, economic information, 3 training sessions, twice weekly market review, and advanced training videos.
  • Titanium – EUR25,000 minimum deposit. 90% bonus, economic information, 5 training sessions, 4 times weekly market review, 1% dividend amount, and advanced training videos.
  • VIP – EUR50,000 minimum deposit. 100% bonus, economic information, unlimited training sessions, daily market review, 2% dividend amount, and special concierge services.
  • Platinum – EUR100,000 minimum deposit. Invitation only.

One thing we would like to highlight is PrestigeOption’s bonus policy, which we rate as ‘above average’ compared to the industry. You see, most binary option brokers’ bonus policy works like this: after an account gets credited with a bonus, then in order for a trader to withdraw any money from the account (including the original deposit amount), the trader would first have to fulfill a minimum trading volume, usually set at 20 to 60x of the total funds amount. In our view, this withholding of the original deposit amount, while a common practice, is unscrupulous and is one of the reasons that the binary options broking industry has such a shady reputation in the first place.

How does Prestige Option’s bonus policy differ? The main difference is that Prestige Option merely restricts the withdrawal of the bonus until a minimum trading volume is met; the trader is at all times free to withdraw their initial deposit as per usual. We also like that PrestigeOption clearly states in their terms and conditions that if a trader has mistakenly accepted a bonus, he or she can return the bonus within five working days (as long as no more than five trades have been placed) without being bound by the bonus conditions. This is a definite plus point as a common complaint in the industry is that unscrupulous brokers often add bonuses to traders’ accounts without permission. Be very wary of brokers which state terms like ‘all bonus insertions are final’ as it is likely to be used as a justification to withhold your funds since their bonus cannot be returned and you cannot withdraw your funds (including your initial deposit) without first satisfying their minimum trading volume requirement.

However, we note that in the terms and conditions that PrestigeOptions state that the minimum trading volume is $10,000 per dollar of bonus awarded, which seems excessively high. While this is likely a typo, all traders should be aware of the bonus conditions prior to acceptance. Fortunately, in the case of Prestige Option, any mistaken acceptance can easily be rectified.

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Prestige Option Trading software

Prestige Option uses the TradeSmarter trading platform, which while a relatively less common choice, is still perfectly adequate for binary options trading. The standard platform itself only offers the traditional high/low option and 60 sec options; however, they also have a StrategiX feature, which is basically range options including touch and no touch options. The platform also has a ‘Risk-O-Meter’ which allows traders to set their desired risk level as well as the popular ‘Social’ option which allows you to automatically replicate other people’s trades.

The asset index offered is quite limited compared to its competitors, having only 41 different stocks, 26 different currency pairs, 6 different commodities, and 15 different indices. Overall we note that while the TradeSmarter trading platform is highly user-friendly, it certainly lacks the features of its competitors such as a wider variety of binary options (e.g. ladder options), advanced charting capabilities (e.g. candlestick charts) and a much less extensive asset index. In our view, it is probably more suitable for the beginner level trader as experienced traders may find the lack of features insufficient for their trading needs.

Screenshot

Prestige Option Support information

PrestigeOption offers the standard support information methods: phone support, email, live chat, and web form. Their customer support hours are Monday to Friday between 9AM to 8PM European Eastern time, excluding stock exchange holidays.

Prestige Option Banking and Company Information

PrestigeOption accepts credit cards (Visa, MasterCard), e-wallets (Skrill, Moneybookers), wire transfer, as well as local payment options such as CashU, Deal, WebMoney, Qiwi, and Bancontact. Their list of accepted banking methods is quite extensive and we rate it as above average compared to the industry.

PrestigeOption’s minimum deposit amount is EUR250 which is standard for the industry, however, what we like is that when it comes to withdrawals, not only do they not have a minimum withdrawal amount but all withdrawals are free with the exception of wire transfers. This is a definite positive and we rate PrestigeOption as ‘above average’ in this area. Their withdrawal time of up to 48 hours for processing and a further maximum of 5 business days after to receive funds is also ahead of the industry, some of which may take up to 14 business days or more.

Additional information

Customer Service: Live Chat, Web Form, Phone Support, Email
Languages: English, French, German
Trading Options: High / Low, One Touch, Boundary, Short Term
Assets: Currencies, Stocks Indices, Commodities
Expiry Times: 30s, 60s, 2m, 5m, End of Day
Deposits and Withdrawals: Visa, MasterCard, Skrill, CashU, Deal, WebMoney, Qiwi, Bancontact, wire transfer
Withdrawal Time: Up to 7 business days
Demo account: No

References/Further Reading:

  1. The Challenge to Financial Regulators Posed by Social Security Privatization (Roberta Carmel)
  2. Changing incentives facing financial-services regulators (Edward J. Kane)
  3. The Revolving Door for Financial Regulators (Margaret Forster)
  4. Liability of financial regulators: Defensive conduct or careful supervision? (Robert J Dijkstra)
  5. Bankers and Regulators (Philip Bond , Vincent Glode)
  6. Economic Analysis by Federal Financial Regulators (Hester Pierce)
  7. Financial consolidation: Dangers and opportunities (Frederic S. Mishkin)
  8. Rules and Regulators (Julia Black)
  9. Should Financial Regulators Be Independent? (Marc Quintyn, Michael Taylor)
  10. The Determinants of Success in the New Financial Services Environment: Now That Firms Can Do Everything, What Should They Do and Why Should Regulators Care? (Anthony M. Santomero, David L. Eckles)
  11. Regulators’ Response to the Current Crisis and the Upcoming Reregulation of Financial Markets: One Reluctant Regulator’s View (Luca Enriques)
  12. Using deferred compensation to strengthen the ethics of financial regulation (Edward J. Kane)
  13. The Independence of Domestic Financial Regulators: An Underestimated Structural Issue in International Financial Governance (Regis Bismuth)
  14. Markets: The Credit Rating Agencies (White, Lawrence J.)
  15. Incentives for Banking Megamergers: What Motives Might Regulators Infer from Event-Study Evidence? (Edward J. Kane)
  16. Rules and Double Standards: Trade, Globalisation, and the Fight (Kevin Watkins, Penny Fowler)
  17. Standards, trade and competition in the emerging global information infrastructure environment (Paul A David, W Edward Steinmueller)
  18. Product standards, trade disputes, and protectionism (Daniel M. Sturm)
  19. Private Standards, Trade and Poverty: GlobalGAP and Horticultural Employment in Senegal (Liesbeth Colen, Miet Maertens, Johan Swinnen)
  20. Can Labor Standards Improve under Globalization? (Kimberly Ann Elliott, Richard B. Freeman)

Binary Minery review: Prestige Option : 4,5 stars

PrestigeOption Broker Review

This broker is now closed;

PrestigeOption is a new broker on binary options market. They were established in 2020 and owned by Lead Capital Markets Ltd.

We decided to add this broker for our South African readers, thanks to an excellent platform and a selection of useful trading features that traders can use to achieve high payouts.

This PrestigeOption review will show traders in South Africa how they are a regulated binary broker.

For more on what types of binary options services PrestigeOption offers to South African traders, read below in our PrestigeOption review.

PrestigeOption Trading Platform

Our PrestigeOption review shows they use Tradesmarter software. This software isn’t represented so often among binary options broker, but with PrestigeOption, traders can easily navigate over the site and get important information.

PrestigeOption broker uses user-friendly interface and there shouldn’t be any difficulties for South African traders who place trades or search for valuable info. Above on the site, traders can find detailed info under different tabs, that are available on PrestigeOption platform.

Minimum deposit with PrestigeOption is $250.

Traders can deposit in USD and EUR.

Our PrestigeOption review revealed us that this broker offers returns up to 88% and maximum bonus up to unlimited amounts. Minimum investment for trading with PrestigeOption is $10 and maximum amount is unlimited.

If you want to learn more about numerous trading features, read further our PrestigeOption review.

PrestigeOption Trading Features

PrestigeOption review showed us that this broker offers South African traders a selection of different trade options, such as: 60 Seconds, High/Low, Pair Options and StrategiX.

Available expiry times are: 30 s, 60 s, 2 min, 5 min, 15 min, 30 min, 1 hr, 24 hr+, end of day, end of week and end of month.

To registered traders, PrestigeOption offers a wide selection of underlying assets, including currencies, stocks, commodities and indices. A full list of assets, traders can find in Asset Index under How it works? Tab.

As one of the most widespread services in binary industry is mobile application. During our PrestigeOption review, we discovered that this broker also offers mobile app to traders.

Their mobile app enables trades to place trades from anywhere and also to use the platform on smartphones and tablets. This app can be downloaded from App Store and Google Play.

Another feature that we noticed in PrestigeOption review is that they offer bonuses as tool to attract more South African traders to sign in and experience a variety of benefits on trading platform.

With PrestigeOption broker, required bonus turnover is 60x, which is higher than average in binary options industry. PrestigeOption bonuses are valid for 60 days. To have more details regarding bonuses, we recommend traders to read terms and conditions.

This broker offers two types of bonuses:

  • Pending bonus – amount of money added on trader’s account; this bonus is not restrictive
  • Profit bonus – traders can use this bonus to trade binary options and it can not be withdrawn before bonus requirements are met.

Feature Refer-a-friend is yet another of popular trading features in binary options industry. It is no wonder why PrestigeOption decided to offer it on their trading platform, as seen in our PrestigeOption review.

If traders recommend this platform to a friend who joins in, then existing trader will get a referral bonus up to $200 each time a friend registers with PrestigeOption. For more details, traders can find useful info on General T & C.

With PrestigeOption, traders can get up to 320%, based on excellent new Starategix feature.

PrestigeOption Account Types

During PrestigeOption review, we learnt that this broker offers 5 different account types to traders in South Africa.

PrestigeOption Bronze Account

  • Minimum deposit $500
  • Up to 25% bonus
  • More than 100 assets
  • Economic information

PrestigeOption Silver Account

  • Minimum deposit $2500
  • Up to 50% bonus
  • More than 100 assets
  • Economic information
  • 2 trading sessions
  • Market report per week
  • Introduction trading videos

PrestigeOption Gold Account

  • Minimum deposit $10000
  • Up to 75% bonus
  • More than 100 assets
  • Economic information
  • 3 trading sessions
  • Market report twice a week
  • Advanced trading videos
  • Access to autochartist

PrestigeOption VIP Account

  • Minimum deposit $50000
  • Up to 100% bonus
  • More than 100 assets
  • Economic information
  • unlimited trading sessions
  • Daily market report
  • Advanced trading videos
  • Access to autochartist + Strategix
  • 2% dividend

PrestigeOption Platinum Account

  • Minimum deposit $100000
  • Access only with invitation
  • More details available with personal account manager

PrestigeOption Customer Support

While doing PrestigeOption review, we discovered that this broker offers customer support in several different ways. South Africans can reach this broker via email [email protected] , live chat, web form and va telephone.

Opening hours with PrestigeOption are: Monday to Thursday from 8:00 – 20:00 and Fridays from 8:00 – 13:00 (GMT). Another thing we found out in PrestigeOption review is that platform is available not only on English, but also on French and German.

Traders who join PrestigeOption can check their Training Center to get more information regarding trading process and how to manage different instruments. South African traders can use live webinars, video centre, glossary and FAQs.

PrestigeOption Banking Info

Security of traders’ funds is the most significant segment of PrestigeOption business conduct. For that reason, they use SSL technology with encrypted data.

This way, all transactions will be transmitted through SSL encryption.

We were pleasantly surprised to see during PrestigeOption review, how detailed both deposit and withdrawal processes are explained.

Under Client Area tab, traders in South Africa can get information on what does it take to either deposit or withdraw funds from trading account.

Available deposit methods are:

  • Debit and credit cards: Maestro, Visa, Mastercard, Diners Club and JCB
  • Bank wire transfer
  • E-wallet: Skrill Moneybookers, iDeal, WebMoney, CashU, LightStream, Bancocontact, and QIWI

Minimum deposit with PrestigeOption is $250, but for deposits done via bank wire, deposit amount is $500.

In this part of PrestigeOption review, we will provide you important information regarding how to withdraw funds from trading account.

For South African traders to be able to withdraw their funds, the initial step is to login to the platform and submit withdrawal request. Traders have to send few documents to PrestigeOption in order to them to approve the request. Needed documents are:

  • Copy of valid ID
  • Proof of address
  • Credit card copy (visible only last 4 digits, cardholder name and date)

An excellent news we found out in PrestigeOption review is that this broker doesn’t charge any fees for withdrawals.

Also, there is no minimum withdrawal. Both of these information aren’t often visible among other binary brokers and here lies advantages of trading binary options with PrestigeOption.

It can take up to 48 hr for PrestigeOption to approve withdrawal request and additional 3-5 business days for funds to be released to the traders’ account.

PrestigeOption Broker Review

PrestigeOption Broker Review | Overview

On our quest to find and review binary options brokers we came across relatively new yet very interesting broker – PrestigeOption. We took our time using their trading platform, we tested their customer service and of course we paid special attention to their withdrawal process. So after all that was done we wrote this PrestigeOption broker review. We have some interesting facts about this broker so keep on reading!

PrestigeOption is relatively new broker, they exist only one year (est. 2020.). They generally look for clients with bigger pockets. What is important to note is that they are licensed and supervised by CySEC. Broker is owned by company Leadcapital Markets Ltd.

As always in Options Reviews we look into key characteristics of every broker’s offer. Check what we found about PrestigeOption:

Regulated or Non-Regulated Broker: Regulated by CySEC

Maximum Returns: up to 88%

Minimum Deposit: 500$

Transparency with Pricing and Payout: Withdrawal is done in 5-10 business days depending on withdrawal method

Banking Options (Cards, eWallets&Wires): VISA, Master, Maestro, Wire Transfer, Bancontact, CashU, iDeal, WebMaster, Qiwi, Skrill Moneybookers

Range of Assets Available for Trading: Currencies, Stocks, Indices, Commodities

Software Platform: TradeSmarter

Customer Service: 24 hours a day, 5 days a week. They can be reached by phone, e-mail, live chat, website contact form

Best Trading Features: 6 different account types, VIP account includes 100% bonus. No maximum investment.

Excluded Countries: USA

Binary Brokers Bonuses: Depending on the account type bonus can be up to 100% of initial deposit

Supported Currencies: USD, EUR

PrestigeOption Broker Review | Introduction

Like we stated above PrestigeOption is owned by company Leadcapital Markets Ltd. Leadcapital Markets is registered in Cyprus and regulated by Cyprus Securities and Exchange Commission, license Number 296/16. Office Address: Treppides Tower, 5th Floor, 9 Kafkasou Street, 2112 Nicosia, Cyprus.

PrestigeOption uses trading platform TradeSmarter. This platform is not used by many brokers, but it is good and well known platform that offers a lot of assets to trade. Broker also offers trading on the go option for traders who travel a lot or have active lifestyle. This is of course done through mobile app. Mobile app is the same as desktop site, but with some differences in design due to smaller screen. Trading app is available in 14 languages.

PrestigeOption Broker Review | Account Types

PrestigeOption offers none-the-less but even 6 different account types. This provides really good variety for traders. One can say that PrestigeOption really took into account everybody, from small traders to extra big ones. Account type trader gets depends about size of initial deposit. Name of accounts are: Bronze account, Silver account, Gold account, Titanium account, VIP account and Platinum account. Each of them has minimum required deposit amount and their benefits. You can see them below

Bronze account:

Minimum required deposit is 500$

More than 100 tradable assets at disposal

Silver account:

Minimum required deposit is 5.000$

More than 100 tradable assets at disposal

2 Training sessions

Traders receive market review once a week

Access to basic video tutorials

Gold account:

Minimum required deposit is 10.000$

More than 100 tradable assets at disposal

3 Training sessions

Traders receive market review twice a week

Access to advanced video tutorials

Titanium account:

Minimum required deposit is 25.000$

More than 100 tradable assets at disposal

5 Training sessions

Traders receive market review four times a week

3% higher payouts

Access to advanced video tutorials

VIP account:

Minimum required deposit is 50.000$

More than 100 tradable assets at disposal

Unlimited training sessions

Traders receive market review daily

5% higher payouts

Access to advanced video tutorials

Special concierge services

Platinum account:

Minimum required deposit is 100.000$

Platinum account can be opened by invitation only. If you are ready to invest more than 100.000$ you should register with PrestigeOption and then contact your account manager. They didn’t provide any info about services traders with Platinum account get, but we can guess they are even better than those with VIP account.

PrestigeOption Broker Review | Bonus

PrestigeOption bonus policy is such that they don’t give bonus to small traders such as bronze account owners. But they give bigger bonus depending on the size of the initial deposit. Traders who decide to open VIP account get even 100% bonus. Account types silver, gold and titanium get 50%, 75% and 90% bonus on initial deposit.

PrestigeOption Broker Review | Assets and Types of Trading

As mentioned before PrestigeOption uses trading platform TradeSmarter that supports more than 100 tradeable assets. Offered assets are currencies, stocks, indices and commodities. Available trading options are: High/Low, On Demand (60 sec), One Touch and Range. Available expiry times are: 30 and 60 seconds, 2, 5, and 30 minutes, 1 hour, 24+ hours, end of day, week and month.

PrestigeOption Broker Review | Deposits and Withdrawals

TradeSmarter is very user friendly and has simple and clear interface. Making deposits or money withdrawals is very easy. They can be done by these means: VISA, Master, Maestro, JBC, Diners Club, Wire Transfer, Bancontact, CashU, iDeal, WebMaster, Qiwi, Skrill Moneybookers. Withdrawal time is 5-10 business days. It really depends on the withdrawal method. For wire transfers and online pyments it takes 5 days, but for credit cards it takes 10 days.

PrestigeOption Broker Review | Customer Service

PrestigeOption customer service proved to be very professional. We contacted them via live chat that is available on their site and via email. In both instances their response was swift and what is even more important information they provided was relevant. They proved very helpful and courteous.

Broker’s web site is multilingual. Supported languages are English, German and French. They are hoping to attract international traders by offering them information in their mother tongue.

PrestigeOption Broker Review | Summary

Our trading experience with PrestigeOption was great. Trading platform performs quite well, customer service responded fast and provided relevant information. What we really like about PrestigeOption is wide range of available account types. Traders looking to invest bigger amounts of money will be thrilled by number of services PrestigeOption offer for big players. On the downside traders looking to invest smaller amount don’t get a lot of services.

PrestigeOption is a regulated broker. They are regulated by CySEC, license number is 296/16. Both deposit and withdrawal in our test went smoothly. Obviously this is not a broker who will capture trader’s money and never let go. We recommend trading with this broker, especially for those traders that are looking to make really big trades. If you are interested click on the button below the text and start trading with PrestigeOption!

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Good for Beginners!
    Free Education + Free Demo Account!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Only For Experienced Traders!

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