GC Option review – Is it a scam or not? – Test of the broker

Trading can be a great opportunity for an investor to make money, and it can also be a way he loses his entire capital if caution is not taken. Because of this, it’s important to get in touch with the markets, assets, and brokers you use.

Once an investor decides to become a trader, he soon gets in touch with Binary Options and brokers which offer this financial instrument. But it’s hard to find a good broker that fits all your needs. The selection is large, and not every broker is safe.

Disclaimer:

This material is not intended for viewers from EEA countries. Binary options are not promoted or sold to retail EEA traders.

GC Option pretends to be a reliable binary options broker. But is it secure to invest your money? Let’s find out if GC Option is a scam or not and if it’s worth investing your money with this brokerage.

We will introduce you to the company and explain the most important things you need to know about GC Option. Additionally, we will give a short overview of assets, fees, and deposit and withdrawal methods.

What is GC Option? Facts about the broker and its company

Developed in 2013 from its parent company, “Grand Capital”, which has been in existence since 2006, GC Option is a binary options trading platform endorsed legally in St. Vincent and the Grenadines but not licensed or regulated by any regulatory agency.

Due to the high request from users seeking more information and showing interest in Binary Options Trading, Grand Capital Option became a company of its own focusing only on binary options trading.

Being one of the earliest binary options platforms, it was also considered to be one of the best in the world.

This platform was created by the company’s software developers to increase the time expiration of Binary options trades to ensure a fixed price feed, and a user-friendly platform environment, including a software design for mobile devices.

Is it safe to trade on GC Option?

The first and most important question we want to answer is if the GC Option broker is reliable and safe. The platform uses two-factor authentication when you want to log in. You can do it through a QR code, or you can use an app like Google authenticator. So logging in is safe.

To register your account, the broker wants to have copies of your ID documents, such as your passport or your driver’s license. You have to submit this data to fulfill the broker’s KYC (know your customer) / AML (anti-money laundering) requirements.

Deposits and withdrawals can be made through different payment methods, for example, e-wallets or bank transfers. All in all, it’s safe to trade on GC Option, even if it’s not regulated by any government agency.

Features of the GC Option

It offers only 30 assets of commodities, stock indices, securities, and currency pairs for trade with a potential of 86% payout depending on the type of trade placed.

It accepts $1 as the minimum amount for placing a trade and $10 as the minimum deposit, which can be made through debit or credit cards, bank transfers, e-wallet services, or cryptocurrency (Bitcoin or Ethereum). Expiry time duration for trades places is from 1 minute to 4 hours. They offer their users one day to trade risk-free to cover up for all the losses made in a month.

A processing fee of 0 to 4.5% is charged for withdrawals, and it uses the same deposit options for withdrawals. It offers up to 40% payouts for early closure of trades and refunds for up to 10% of losses made. The verification and registration process is very simple, and funding through cryptocurrency is accepted.

GC Options is available to clients all over the world, except in countries where the use of unregulated platforms is restricted.

Assets

GC Option offers the following assets:

• Gold and silver
• More than 25 forex pairs, including the most popular ones like EUR/USD or AUD/USD)
• 8 crypto assets

Payouts

Not every asset offers the same payout. The EUR/USD currency pair is the one with the highest payout, which is 86%. That means if you trade this asset with $100, you will get $86 in return.

Payouts with GC Option start with 60%, which you will receive if you’re trading some of the cryptocurrencies. Other binary options brokers like Quotex offer higher payouts, up to 95%.

Trading platforms GC Option offers

There are 2 platforms offered by Grand Capital Brokers for trading binary options, and these include;

MetaTrader 4 (MT4)

This is the most popular trading platform for binary options, and GC Options are fused directly into them. This allows GC option traders to access the MT4 platforms easily and trade binary options using all the platform’s functions.

MetaTrader 4 is also available for use on mobile devices using the mobile application for Android or iOS.

WebTrader Option Pro

This platform was created by GC Option software developers and can be used from any location or region with access to the internet.

It does not require the installation of any software and also offers all the basic features of a trading platform, like charts, signals, and indicators which can be used on a mobile device with access to the internet.

This platform uses a special panel extension that enables traders to open trades directly from a chart with just a few clicks.

Other special features offered by the WebTrader Option Pro include; the profitability percentage of currency pairs, user-friendly conditions for the early closure of a trade, possible profits and losses, which are shown in different colors in the trade charts, and information for all open and closed trades are shown.

Although it offers limited features, MetaTrader 4 Platform is simple and easier to use, especially for beginners or inexperienced users. Professional or more experienced traders may prefer the use of the WebTrader Option Pro as it offers a wide variety of features and options.

Deposit and withdrawals methods

For any trader, it’s important to know what deposit and withdrawal conditions a broker offers. Not every binary options broker offers the same methods to deposit and withdraw. Let’s have a look at the various payment methods and fees.

GC Option deposit methods

GC Options offers more than 10 different payment methods. They range from bank transfers to cryptocurrencies. Here are the most important of them:

• Bitcoin and Ethereum
• Credit Cards
• Debit Cards
• FasaPay
• Mastercard
• Wire Transfer
• Perfect Money
• Paytrust
• Maestro

When you deposit through digital payment solutions or bank cards, you don’t have to expect any fees. If you use bank transfer, it takes longer to proceed, and you may have to pay little fees.

GC Option withdrawal methods

To withdraw your funds, you can use the same methods as for funding your account. It takes between 3 and 5 days to process your withdrawal requests.

Compared to other binary options brokers, GC Option offers relatively high fees. Expect fees between 1% and 4.5% when withdrawing your funds.

How does placing trades on GC Option work?

A trader selects the asset (commodity, shares, or currency) he wishes to trade on by choosing a “buy/call” or a “sell/put” option after making a prediction and a time of expiry for the trade. If the trade goes in his favor, he makes a profit from it but takes a loss if it goes contrary to his prediction.

A trader can also end a trade placed before it is executed, and he gets a refund of part of his initial capital placed on the trade.

The “Buy or Call” Option

A trader selects the “call” option when he predicts the rise of a trade at the time of expiration. If he predicts correctly, he makes a profit.

If he predicts wrongly, he takes a lot. If the asset’s price remains constant, he neither makes a profit nor takes a loss.

The “Sell or Put” Option

A trader selects the “put” option when he predicts the fall of a trade at the time of expiration. If the trader makes the right prediction, then he or she makes a profit from the trade.

If the price remains constant, the trader neither makes a profit nor takes a loss. If the trader makes a wrong prediction, then the trader takes a loss.

GC Options trading accounts or levels

There are different account types offered by Grand Capital Brokers depending on the initial deposit of an investor.

The silver or basic account 

The main features of this account type include the following;

• A minimum deposit of $10 is required to open this account type.

• The basic account offers only 30 assets for trade.

• It offers a daily analysis of the market cost-free.

• It offers a free demo account credited with $10,000 of fake virtual money.

The gold or classic account

The features of this account type include the following;

• A minimum deposit of $100 is required to open this account type.

• The basic or silver account offers only 30 assets for trade.

• Traders are given one day to trade risk-free in order to compensate for all the trades carried out unsuccessfully in the month.

• It offers a free demo account with 10,000 fake virtual money.

• Fees charged for deposits are being compensated.

• It offers a daily analysis of the market cost-free.

• It offers access to the MetaTrader 4 Platform and its trading signals.

The VIP account type

The features of this account type include the following;

• A minimum deposit of $300 is required to open this account type.

• It offers a refund of 10% for losses encountered on trades weekly.

• It offers traders one day to trade risk-free to compensate for all the trades carried out unsuccessfully in the month.

• It offers only 30 assets for trade.

•  It offers a daily analysis of the market cost-free.

• It offers a free demo account with 10,000 fake virtual money.

• Fees charged for deposits are being compensated.

• It offers access to the MetaTrader 4 Platform and its trading signals.

Tutorial: How to start trading binary options with GC Option

Now you know the details of the trading conditions of GC Option. Let’s continue and have a look at how to trade with the broker.

Opening an account

While opening and registering an account with GC Option, traders are required to go through a two-factor authorization process for the protection and security of their funds.

Select a GC account type

After opening a GC Option account, users are required to select an account type (the Basic, Classic, or VIP account). The VIP account offers more features, profit opportunities, and better conditions for trading.

Choose a suitable trading platform

After choosing an account type, users are required to select a convenient trading platform (MetaTrader 4 or WebTrader Option Pro). The MetaTrader 4 is a better and more convenient option for beginners or inexperienced traders as it offers a simple and user-friendly environment with limited features to help a new trader navigate and practice trading with the demo account funded with $10000 virtual money.

Professional traders can also use the MetaTrader 4 Platform for trading or its demo account to practice new strategies. Most professional traders prefer the use of the WebTrader Option Pro as it offers more features and tools for extensive trading.

Select an asset and trade expiry period

The GC Option offers 30 assets only or trades. Traders can select a particular asset they wish to trade and put a “buy” or “sell” order after predicting the outcome of the trade.  A time frame or expiry period is also selected for the trade.

Conclusion: Reputable broker

GC Option is a form of binary options trading where profits are being made through the correct predictions of an asset (crypto, commodities, or currency pairs) within a time frame.

If the trader’s predictions are correct, he makes profits, but if his predictions are incorrect, he takes a loss, although he can close a trade before it is executed and get a partial refund of his initial investment in the trade. If the price of the asset traded remains the same, the trader neither makes a profit nor takes a loss.

Although unregulated, the GC option is one of the oldest and most trusted brokers for binary trading, and they offer this user a lot of unique features like commission-free deposits and withdrawals, one day in a month for risk-free trading, daily analysis of the market cost-free, access to MetaTrader 4 Platform, and it’s trading signals and access to a demo account for practice trading.

FAQ: Frequently Asked Questions about GC Option:

General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.