Bee OptionsBroker Review
Bee Options is a binary options broker that opened in 2012. They are based in the UK and offer trading in English, French, and Spanish. Unlike some other binary options brokers, they are accepting American traders. Bee Options uses SpotOption as their trading platform and Reuters for quotes. The broker runs 24 hours a day.
|Bonus||Up to 100%|
|US traders accepted|
- Honest and reliable
- Inuitive mobile trading app
- Friendly and easy-to-use trading platform
In general, Bee Options does not have much in the way of unique offerings that stand out from the crowd of binary options brokers. They do not have a unique trading platform and their bonuses, payoffs, and fees are unexceptional. Their one major advantage in the industry is their asset selection. Bee Options has 17 currencies, 40 indices, 65 stocks, and 8 commodities available for trading, for a total of 130 assets. That is unmatched in the industry.
The Trading Platform
The SpotOption trading platform is nothing special. It has the usual expiry times for trades, running from 60 seconds to a week, and the usual selection of tools. The design is bee-themed, with yellow and black coloring everywhere. One interesting feature is that the interface gets large, simplified buttons whenever the trader is performing 60-second trades, which helps with accuracy and timing.
The bonus is, again, nothing special. The minimum deposit of $150 unlocks a bonus of $50, and there is an additional 25 percent bonus if the deposit is over $1,000. The required wager on that bonus is 30 times the total of the bonus and the deposit before the trader can make a withdrawal, which is fairly high and makes it hard to make use of the bonus.
Min. Deposit€ 250
Deposits and Withdrawals
Deposit methods include credit cards, wire transfers, and MoneyBookers, along with several PayPal clones. The first monthly withdrawal is free, and after that, there is a $20 fee on credit cards and a $30 fee on wire transfers. The minimum withdrawal is $20 for credit cards and $100 for wire transfers.
|Speed Trading||Spread High/Low||One Touch||Option Builder||Mobile Trading||USA Traders|
Bee Options has 24/7 customer service via email, phones, and live chat. It is nice to have the option, especially considering potential variation in time zones.
The unique feature that Bee Options offers is simply the depth of asset choice. The bonuses are not particularly good. The company publishes daily and weekly market summaries, which generally do not have much information of value to traders. Most of the content is a simple summary of market activity, not trade-able information.
- Bank Wire
- Email: firstname.lastname@example.org
- Phone: +44 203-318-2179
Advantages and Disadvantages
The disadvantages of Bees Options are not terrible. For example, the bonus, withdrawal, and deposit policies are not great, but they are not the worst, either. Having a huge selection of assets is nice, but few people are ever going to want to choose from among 130 different options, so most of them go unused. Bee Options does not offer a demo account to try the platform for free - only after a small first deposit.
Pros & Cons
- Extensive market news
- Mobile app for iOS and Android
- Demo account after a small 1st deposit
- Not regulated (But uses SpotOption platform which is regulated by CySEC)
The Final Word
The bottom line for Bee Options is that it just does not offer any reason to chose them instead of some other broker. With so many good brokers in the binary options industry offering big bonuses, better platforms, and more interesting tools, Bee Options just has nothing going for it. It doesn't do anything particularly badly, and it certainly does not appear to be a scam operation. It just offers traders no compelling reason to choose Bee Options. A binary options broker needs to put effort into getting a trader's business, and it seems that Bee Options is trying to do the minimum possible to draw people it. If there is something compelling about its interface, or they are running a highly lucrative promotion and that makes them worth it, they could be a good choice. Aside from that, though, give Bee Options a miss and do more research to find a better binary options broker. There are dozens of them out there, many of which are better that Bee Options. They simply are not worth the time.