Prestige Option are a growing brand (established in 2015), and are part of Lead Capital Markets Ltd. The firm are regulated by CySec (under license no 227/14) and have also registered with a range of financial regulators across Europe.
The brand focus on the simplicity of binary options, keeping the platform clear, simple and transparent. There is a good range of assets, and especially expiry times, so Prestige offer a broad trading choice. They also offer a good bonus and introduction package, including a risk free trade, to get new account holders off to good start. The risk-o-meter also allows traders to see some of their premium returned in the event of the trade finishing out of the money – another example of their flexible offering.
Below are the Key details for Prestige Option;
- Demo Account – No
- Minimum Deposit – £250
- Minimum trade – £10
- Signals service – Yes. Auto Chartist tool delivers 200 / 300 signals per day
- Bonus details – None. As a regulated broker, Prestige adhere to the CySec ruling that deposit match bonuses should no longer be offered.
- Mobile App – Yes
Trading Platform
The Prestige platform keeps things simple. The assets can be selected from the menu along the top of the trading area, all sensibly grouped – with the addition of a configurable ‘Favourites’ tab. The layout can also be amended, with one main asset and others listed at the side, or two assets side by side, or a string of markets in a list.
Once the asset choice is made, the detail will be displayed. depending on the layout chosen, the trading buttons will sit just above – or just to the right – of the price graph. The payout percentage is prominent, and the Call and Put buttons sit either side of the current strike price. Above those are the expiry options and trade types. Prestige provide a great range of trade types – the StrategiX tab opens up some advanced choices, such as ‘Range‘ and ‘Touch‘ that can be nested to provide more complex trades and techniques such as nesting or tunnels.
The additional features are also available from the trading screen – ‘Sell back’, ‘Hedge’ and ‘Double up’ all become available on a live trade, allowing traders to manage risk further.
Prestige have provided a simple, yet feature rich, trading platform. It combines simplicity with advanced features in a very useable way.
Trader choice
The trading choice at prestige is excellent. The asset lists are huge, the expiry choices range from 30 seconds up to 6 months on stocks, and the list of trading types is also extensive, offering advanced techniques via the StrategiX screen;
- Up/Down
- Range
- Touch (Up and down)
- No Touch (Up and down)
Prestige also offer ‘Pairs’ in their list of assets (matching Silver versus Gold or Amazon versus Alibaba for example). So trading choice is a strength of this brand, and is complimented by the additional features that offer traders even more options. It is very unlikely that a trader will not be able to take the position they want at Prestige.
Mobile App
Prestige offer their trading platform on mobile devices too. Both android and iOS devices are compatible. The mobile app delivers the same trading platform, and the clear, simple trading area is a real plus when in use on mobile devices and smaller screens.
As a new firm, the mobile offering will doubtless be expanded as the firm grows, adding more features and functions for traders on the move.
Payout
Payouts at Prestige Options reach 88% on the Up/Down options, which is competitive. There are however, higher payouts available on the StrategiX options, with Range and Touch options generally over 100%, on occasion, percentages reach over 300%.
As ever, the payouts will change depending on the asset, and also the expiry time. Certain trade types will also become unavailable as the countdown time reaches a certain point. So payouts will vary.
Withdrawal and deposit options
Prestige option do not charge any fees for withdrawals back to credit or debit cards, but may charge for wire transfers. There is also no minimum withdrawal figure. Prior to making any withdrawals, clients will need to provide Prestige with some documentation proving both their ID (via passport or driving license) and proof of residency via utility bill or bank statement. Relevant credit and debit cards also need to be scanned front and back (with certain information obscured). These steps are common across regulated binary options brokers – but they are worth sorting out well before a withdrawal is requested, as delays are often the cause of disputes between trader and broker.
Prestige aim to process withdrawal requests in 48 hours, banks may then take between 3 and 5 working days to complete the transaction. All payments are processed in USD, which may mean exchange rate charges are made with certain banks. Payments are made back to the original deposit method.
For deposits, clients can use Credit or debit cards, e-wallets – such as Skrill or Moneybookers, and bank transfer. A bank transfer does require a $500 minimum transaction value. While Prestige does not charge any fees on a deposit, it does convert all deposits in USD before adding to an account balance. So if the funds are coming from a non-USD account, the current international exchange rate will be used.
Other Features
Prestige Option offer a range of other tools and function that may appeal to new traders;
- Option Refund – Traders can scale a risk meter, meaning slightly smaller payouts, for a return of some of any losing premiums in the event of the trade finishing out of the money.
- Pro Trading Platform – With advanced tools via StrategiX area.
- Special Trade features – Roll back, Double Up and Hedge features give traders more control.