Overall Rating: ★☆☆☆☆ (1.8/5.0)

CloseOption is a binary options broker established in 2013, offering short-term contracts on a limited set of assets such as forex pairs and commodities. It allows clients to deposit and withdraw in cryptocurrencies, including Bitcoin, and promotes a low minimum deposit of just $5. However, CloseOption is unregulated, and its model poses significant risks, especially due to lack of transparency, no fund protection, and complaints about payout consistency and withdrawals. This CloseOption review reveals the key concerns and features of this high-risk broker.

Key Features

CloseOption focuses on simplicity and low-cost binary options trading with a crypto twist.

• Platform:
  • Proprietary web-based platform, with limited technical tools
  • Basic charting and 1-minute expiry options
• Instruments Available:
  • Mainly forex pairs, with occasional access to gold and oil
• Trade Parameters:
  • Binary options only – Up or Down prediction
  • Payouts up to 95% for successful trades
• Account Currency:
  • Supports BTC, USDT, Litecoin, Ethereum
• Minimum Trade Size:
  • $1
• Minimum Deposit:
  • $5 equivalent in crypto

Regulation and Security

CloseOption operates without regulation and provides no verifiable company licensing.

• Unregulated broker – not licensed by any financial authority
• No oversight from regulators such as CySEC, FCA, or ASIC
• No investor protection fund or third-party audit
• No published legal entity or registered business details
• No guarantee of fund segregation or transaction transparency

Pricing and Costs

The broker offers binary options with a fixed-risk model, but its payout structure can be manipulated.

• Payouts:
  • Up to 95%, but varies by asset and market conditions
• Losses:
  • Full loss of trade amount on incorrect predictions
• Fees:
  • No trading commissions
  • Withdrawal fees apply, depending on the cryptocurrency used
• Inactivity Fee:
  • Charged after prolonged account inactivity (not clearly stated)

Educational Resources and Customer Support

CloseOption provides basic tutorials but lacks in-depth trading education.

• Education:
  • Trading basics, how-to guides, and platform tutorials
  • No advanced content, webinars, or expert strategies
• Market Analysis:
  • Very limited – no reliable news feed or analyst reports
• Support:
  • Live chat and email support, available 24/5
  • Multiple users report slow responses and unresolved issues

Risk Management Tools

CloseOption does not offer robust risk tools beyond binary option limits.

• No stop-loss or take-profit settings – fixed outcomes only
• No trailing stops, margin tools, or position management
• Limited control over expiry settings
• High-risk all-or-nothing trading structure

Pros and Cons

Pros

• Low minimum deposit ($5)
• Crypto deposits and withdrawals accepted
• Simple platform for binary options
• No KYC required for small accounts

Cons

• Completely unregulated and anonymous
• No investor protection or fund segregation
• Binary options model poses extreme risk
• Payout structures are inconsistent and not transparent
• User complaints about withdrawals and platform fairness

Conclusion: Is CloseOption the Right Choice?

CloseOption is not a safe or recommended broker. The lack of regulation, crypto-only model, and opaque operations make it a high-risk platform. Binary options are already controversial due to their gambling-like structure, and CloseOption’s lack of licensing only increases the risk to traders.

For those looking for regulated brokers offering crypto CFDs or other structured trading options, platforms like Eightcap, eToro, or Pepperstone offer significantly greater security and reliability.