CloseOption Review 2025

CloseOption is a binary options broker that offers trading on 21 forex, crypto and gold assets. New users can trade on the firm’s web-based platform, making use of the growing suite of analysis tools. CloseOption stands out for its weekly trading contests, where users can compete with other traders for cash prizes. However, the catch is that the broker is not regulated by a trusted financial body and high payouts require a relatively steep deposit.

Pros & Cons

Pros

• CloseOption runs weekly trading contests with $1,300 up for grabs and virtual capital for competing.
• It takes less than 5 minutes to open an account and start trading based on testing.
• CloseOption publishes regular market analysis, available via the client dashboard with helpful technical summaries.
• New traders need just a $5 minimum deposit and $1 stake to get started.

Cons

• CloseOption doesn’t offer binary trading on assets beyond forex, crypto and gold, with no stocks or indices.
• Despite bring registered with the National Bank of Georgia, CloseOption isn’t fully regulated by a trusted financial body.
• Payouts can hit 95% in the Diamond tier, but only if you deposit $50K, putting the competitive returns beyond many retail traders.
• Customer support is lacking with live chat that’s either unresponsive or unknowledgeable agents during multiple rounds of tests.

Company Details

CloseOption is based in Georgia, having opened its doors in 2013.

CloseOption claims to be registered with the National Bank of Georgia, B2-08/3647. However, it is worth highlighting that this is not the same as being regulated by a trusted financial body in BinaryOptions.net’s regulator directory.

Also, we looked at the National Bank of Georgia’s list of licensed ‘Brokerage Companies‘ and could not find CloseOption or the registration number it references.

This means traders won’t have access to an investor compensation scheme in the event the broker becomes insolvent and you won’t have an ombudsman to resolve complaints through.

When trusted regulation is missing, reputation is a key consideration – trader feedback (mixed) and longevity (strong). However, you have to be wary of some reviews as they can be faked through bots.

Accounts

CloseOption offers one live trading account and a contest profile.

Real Account

• $5 minimum deposit
• $1 minimum trade value
• $1000 maximum trade value
• Welcome gift when you start trading
• One account per person – no hedging allowed

There are also different levels, ranging from Copper (up to $1,000 deposit) to Diamond ($50,000 – $100,000 deposit). The levels unlock better payouts, with Copper offering a 79% payout on EUR/USD and 17-78% on other assets, and Diamond offering 95% on EUR/USD and up to 90% on other assets.

Contest Account

• Virtual funds to compete against other traders
• Contests are run weekly, with multiple winners per game and prizes up to $1,300
• Winners are selected based on the account balance at the end of the contest period
• Entrance fees are usually $5-10 per game, but free contests are also available
• Minimum of $500 deposit in your real account to be eligible for a contest profile
• Recharge packages are available if your balance dips below $1,000
• Opportunities to double your balance using accelerator coins

Demo Account

CloseOption also provides a demo account with $100,000 in virtual funds. This is a great opportunity to understand how the platform works and build a strategy before you begin trading binary options with real money.

Traders can charge their accounts up to three times when the recharge symbol appears. All winnings are virtual and cannot be withdrawn.

Markets

CloseOption offers binary options trading on 21 forex pairs, including EUR/USD, GBP/USD, and USD/JPY, plus digital currencies like BTC/USD, ETH/USD and LTC/USD. Gold (XAU/USD) is also offered.

This is a fairly limited range of assets, especially compared to alternatives like IQ Option which also offer binaries on stocks and commodities.

Payouts

We sampled live payouts on CloseOption across two sessions (“peak” vs “off-peak”), then compared them to the site’s stated figures.

Headline: peak-session payouts ran ~8–20% below advertised, and off-peak were ~16–30% lower—among the widest gaps we recorded, with notably thin liquidity outside major market hours.

It’s also worth noting that the best payouts require a steep deposit of $10,000 or $50,000 for Gold and Diamond, which then gets you potential payouts of over 85%. But alternatives like Videforex offer payouts of over 95% from a $250 deposit.

Platform

CloseOption offers its own TradeRoom. It is available on popular browsers, including Chrome, Safari, and Mozilla Firefox. There is also a mobile web variant, allowing users to trade from their smartphone. On the downside, there is no standalone CloseOption app for mobile traders.

The platform’s main selling point is simplicity. It offers all the basic tools you need to trade binary options, including 4 chart styles, analytical tools like trend lines, plus a clear view of your order history.

However, when I used CloseOption’s TradeRoom in our last round of tests, I found the terminal a bit slow and cumbersome – the charts and candlesticks would glitch/pull slightly – something I don’t get on most binary platforms I’ve used.

There are also limited analysis tools for experienced traders – just four timeframes from 5 seconds to 1 minute – less than ideal for longer-term analysis and setups. Alternatives like AZAforex also offer a 1-tick chart, better suited to ultra-fast binary trading.

And while CloseOption has added Fibonnaci lines, that still gives you just six technical analysis tools in total – a far cry from the over 70 you get at Capitalcore.

Ultimately, TradeRoom is a better fit for beginners and it could do with some investment.

Payment Methods

Deposits

CloseOption supports a broad range of funding methods, including cryptocurrencies, bank cards, e-wallets, and wire transfers.

Cryptocurrency is the fastest and most popular option. Deposits are typically processed within 5 minutes to 1 hour, depending on network congestion.

• Minimum deposit: $5
• Maximum deposit: Varies by coin (e.g., Bitcoin up to ~$25,000 per transaction)
• Fees: 0%
• Deposit gifts: Between 1% and 4%, depending on the currency (subject to change)
• Accepted coins: Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Litecoin (LTC), Ripple (XRP), Dash, Tron (TRX), Monero (XMR), and others

Deposits via PayPal incur a 5% fee, while bank cards and wire transfers processed through Pay Gate or other approved payment providers generally carry no deposit fees.

Some methods also qualify for small deposit bonuses, which can be activated manually during the deposit process.

How To Make A Deposit

1. Log in to CloseOption and visit the dashboard
2. Click Deposit on the left-hand sidebar
3. Select your preferred payment method from the list
4. Enter the amount to deposit and select whether you would like to receive a bonus
5. The next page will provide details about expected processing times
6. Review the details on the summary page before clicking through to pay. For crypto, you will be directed to coinpayments.net to process the transaction
7. Coinpayments.net will give you an address to send your payment to. Ensure you send enough to cover any blockchain fees. Visit your crypto wallet to process the transaction
8. Finally, check the deposit is visible in your CloseOption account

Withdrawals

Withdrawals can be requested through a support ticket in the member dashboard. Funds must be returned to the same payment method used for deposit, or by bank wire transfer if the original channel is unavailable.

• Minimum withdrawal: Varies by method (crypto/e-wallets usually allow small amounts; wires require at least $500).
• Processing time: Typically 1–3 business days once approved.
• Fees: Crypto & e-wallets: 0%, PayPal: ~10%, Bank wire: $100–$300, depending on intermediary bank charges.

All customers must complete identity verification (KYC) before submitting a withdrawal request. The broker also requires that bonuses and deposit gifts meet their turnover conditions before funds can be withdrawn.

CloseOption no longer applies a 0.5% monthly inactivity fee. Instead, accounts may be archived after 90 days of inactivity, with a $10 reactivation fee if you later wish to resume trading.

Bonuses

CloseOption offers trading contests that are run weekly. Winners can take home up to $1,300 in earnings for their part in the contests, up from $850.

CloseOption also offers a welcome gift and deposit bonus. This bonus is not normally given by default, you will need to tick the box to agree to it in the Deposit window.

However, this promotion does come with terms and conditions. Most notably, you won’t be able to complete any withdrawals until you have traded 20 times the deposit amount, for example, if you deposit $100 you must trade $2,000.

We never recommend choosing a firm based on their bonuses – they can encourage overtrading, excessive risk taking, and often come with restrictive terms and conditions.

Customer Support

CloseOption advertises ‘round the clock’ support via telephone, email and live chat. However, in our original tests, we contacted their experts via live chat within trading hours and received no response, despite being first in the queue.

They have upped their game on this front somewhat, but it’s still weak overall – largely copy-pasted FAQ answers with no practical guidance, and bonus/withdrawal rules left unclear in our last tests, even after follow-up.

There is also an option for a callback – leave your details in the box and they should get back to you.

Should You Trade Binary Options With CloseOption?

Whilst the low minimum deposit and contest prizes may be tempting, CloseOption is not market-leading in terms of its trading conditions, regulation or client safety.

The demo account is a great way to practise and the contests are a fun way to trade, but real-money trading opportunities are limited to a modest collection of forex, crypto and gold assets, with high payouts reserved for those that deposit enough for the premium account tiers.

FAQ

Article Sources

CloseOption

National Bank of Georgia – Brokerage Companies

CloseOption Details

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