FAQ

What are digital and binary options?

Binary options are extremely rewarding instruments of trades, which are very simple to use. They provide a fixed return following every trade that is carried out, depending on whether the trade was “In the Money”, “Out of the Money” or a “Tie.” Binary options can also be called digital options and are one of the fastest developing financial trading instruments in the world. The popularity of binary options among financial investors is owed to the fact that they are simple and offer certainty on every trade.

Before purchasing a binary option, the potential return one can expect is known. These options can be bought for any financial product and trade can be carried out either by purchasing a “Call”/”Up” option or a “Put”/”Down” option, enabling an investor to go long or short on any financial product. Binary options operate in a fixed time frame, which means that their time can expire between 5-30 minutes, in 1 hour or at the end of the trading day. A binary option, once bought, cannot be resold before its time is expired.

What is an Underlying Asset?

Assets are any products that can be traded and which a financial market can be based upon. Among the most common assets are commodities such as gold, oil or platinum. Examples of stocks include “Microsoft”, “Nike”, “Citi” and “Coca-Cola”. There can also be currency pairs (USD/EUR, USD/YEN), stock indices (NASDAQ, Dow Jones, FTSE) and bonds.

When trading binary options, investors purchase options on individual assets within a fixed time frame in an attempt to gain from the price fluctuations that take place within the underlying asset.

What do the colors on the scrolling feed indicate?

A downward change in the asset rate is indicated by the Red Down arrows, whilst an upward change in the asset rate is indicated by the Green Up arrows.

What is the time shown on this site?

The time shown on this site is Universal Time or GMT, which is the standard for international time.

Where can I view the trading hours of each asset?

In order to see a list of tradable assets, their trading hours, symbols and descriptions, it is necessary to visit the Asset Index.

Where can I view my transaction history?

When logged into the ASKoption platform, click on My Account at the top of the page where the entire transaction history can be viewed.

Do I have to download any software for trading?

In order to start trading on the ASKoption platform, no additional downloads are required. You will be ready to start trading binary options by simply registering and depositing funds into your account.

What is the difference between binary options and traditional options?

ASKoption offers secure, rewarding and efficient binary options trading. This method of trading is modern and appealing, which makes it different from traditional financial options. Traditional options have long expiry periods, unlike binary options, which can expire between 60 seconds and the end of the trading day. Also, binary options are able to offer predetermined returns and are simple to understand, whilst traditional options offer uncertain returns and are more complicated to use.

What are the ASKoption Office hours?

The ASKoption offices operate as follows:

ASKoption.com provide 24/7 Customer Support.

For customer support you can contact us via email at [email protected] or by Chat on the site.

What browser should I use when trading on ASKoption?

ASKoption recommends that the Google Chrome browser is used when trading on our website.

Do I have to deposit money to register on ASKoption?

In order to register on the site, no deposit of credit/debit card details are required. Funds must be invested in the account before trading activity can begin.

What currency can I use for trading?

An account can be opened in USD, EUR, GBP, AUD or CAD currencies. The choice of currency cannot be changed after the registration.

How secure is trading with ASKoption?

ASKoption uses the internationally accepted security system SSL (Secure Sockets Layer) that encrypts all credit card payments over the internet. If your browser does not support this automatic system, you will receive an instant notification.

Are payouts taxable?

AskOption customers are responsible for their taxation liabilities (if any exist) at their place of residence. For more detailed information, we suggest you contact your area of jurisdiction or view our general terms.

I have problems with the registration process. What should I do?

Please contact our outstanding support team and they will assist you with all your queries. You can also contact us via e-mail ([email protected]), via the online chat service or by contacting one of our satellite offices by telephone.

How can I register?

The registration process is very simple:

  • Click on “Open Account” on the home page
  • Fill in all the necessary details
  • Submit the form
  • You will receive a verification email, whereby you must click on the link
  • You’re good to go! Welcome to ASkoption!

What is the registration fee?

Registration is free of charge.

What is the withdrawal procedure?

Withdrawal Procedure:

All withdrawal requests are handled by the financial department of AskOption. In order to process a withdrawal, the above mentioned documents must be submitted. Although there is no fee for withdrawing via credit card, a withdrawal via bank transfer will be accompanied by a processing fee of $30.

It takes AskOption up to 5 business days to process a withdrawal request, following the receipt of the verifying documents. Once the request has been approved, please allow for an additional 3-7 days for the funds to appear on your account.

Credit card withdrawal:

All funds that have been invested using a certain credit card, can only be withdrawn onto the card in question and not an alternative one. The maximum withdrawal amount to a credit cannot be greater than the amount invested. Additional funds can be withdrawn via wire transfer.

Wire Transfer:

Traders are allowed one free wire transfer withdrawal a month. A processing fee of $30 will apply to further wire transfers carried out during the same month.

If you are in doubt and have further questions regarding this policy, please contact us via live chat, e-mail ([email protected]) or telephone.

Why am I receiving a credit card error?

In the event that you receive an error message while attempting to make a deposit, please ensure that your credit card is suitable for international use and/or online transactions. You can verify this by contacting the number on the back of your card.

If you receive an error message several times, please note that your credit card company may have temporarily blocked your card for security purposes. For queries regarding the latter issue, please contact the number on the back of your card.

What is the bonus policy?

Terms & Conditions

ASKoption’s Bonus Policy:

ASKoption provides a wide range of appealing rewards to its new and regular customers. ASKoption’s promotion program includes bonuses and one-time trading credits to clients. For more information about ASkoption’s rewards and promotional offers please contact us via live chat, e-mail or telephone.

ASKoption’s Bonus Withdrawal Policy

A minimum trading volume must be executed in order to withdraw any funds. This depends on the bonus amount (eg. The volume may be 30 times for every $1 bonus). Funds can only be withdrawn when preceding stipulation has been completely met and fulfilled, which includes the initial amount deposited.

Any sign of fraud, manipulation, cash-back arbitrage or any other forms of dishonest and fraudulent activity based on the provision of the bonus will suspend the account along with any profits or losses made.

What is the deposit procedure?

Certain requirements must be met when depositing or withdrawing with ASKoption.

Every client is required to submit the following documents that authenticate their account with ASKoption:

  • A Photo ID: a government issued document, which can be a driver’s license, passport or a residency card.
  • A provision of proof of your physical or billing address, such as a bank statement or a utility bill in the country of your residency, which is not older than 3 months.
  • When depositing via credit/debit card, a copy of the card used to make the deposit must be submitted. The copy must be made from the front and back. The first 12 digits and the CVV on the back must be covered, whilst the signature panel with your signature must be clearly visible.

The above documents must be clearly visible and in color. They must be sent by e-mail to [email protected] with your name as the subject of the e-mail.

Deposit procedure:

Clients can invest with ASKoption via credit/debit cards and wire transfers. ASKoption does its best to provide its clients with additional processing and investment methods.

Credit cards:

The cardholder’s name on the credit card that is used for trading with ASKoption must match the name on the account. ASKoption accepts most of the key credit cards.

Wire transfer:

The minimum amount for a wire transfer is $500. Any transfer that is below $500 will be charged a fee of $30. The wire transfer must be made to the precise details displayed on the deposit page, in the wire transfer section. A copy of the wire transfer must be e-mailed to [email protected]. It may take up to 5 business days for the transfer to show on your ASKoption account.

How can I cancel a withdrawal?

Even if your withdrawal request is being processed, you can still discontinue the process and return to money on your ASKoption account. This can be useful when there are insufficient funds in your account and you wish to pursue other trading activities. To cancel a withdrawal, please contact us by online chat, telephone or e-mail your account manager/ support department.

What is a SWIFT code?

A SWIFT code is the unique identification code of a certain bank and is used for transferring money between banks. Your bank will inform you of what their SWIFT code is. If the SWIFT code consists of only eight digits, you will have to insert XXX at the end.

Is there a minimum withdrawal amount?

The minimum withdrawal to credit/debit cards is 30 in your chosen currency. As for wire transfers, the minimum withdrawal is 100 in your chosen currency.

Is there a fee to withdraw funds?

One withdrawal per month is free of charge, whilst every additional withdrawal of that month will be accompanied by a fee of $30.

What is the maximum deposit amount?

The maximum deposit amount varies with the selected deposit method.

  1. Credit card- 5,000 per transaction in your chosen currency
  2. Wire transfer- unlimited

What is the minimum deposit amount?

The minimum deposit amount is 250 in any currency that you choose to trade in (USD, EUR, GBP, AUD)

How can I withdraw money from my account?

Money can be withdrawn using your credit card or wire transfers. This can be done by sending an e-mail request to [email protected] or through the “My Account” section by filling out the “withdrawal request” form.

All funds that were invested by a credit card can only be withdrawn to the same card and the maximum withdrawal amount to a card cannot exceed the amount invested. Any remaining funds can be withdrawn via wire transfer.

How can I deposit money?

We accept the majority of credit and debit cards. You can also deposit through wire transfer and other deposit methods that may alternate depending on your region.

What is the maximum withdrawal amount?

The maximum withdrawal amount per transaction depends on the chosen deposit method.

Credit card: 20,000 in your chosen currency

Wire transfer: Unlimited.

How can I view my past trades?

By logging in and clicking on “My Account” and then “Investment History”, you can view your past trades. You can also select the “Expired” positions to view past trades. You can filter in several ways: by trading tool, date and asset.

What does option suspended mean?

This is a temporary notice that can appear in the event of irregular one-way trading and market conditions on a particular asset. Once the conditions return back to normal, this notice will disappear.

What is the Follow Feature?

This feature allows you to “follow” fellow traders and imitate their trades on your own account. You can choose the user you would like to follow, set the time period you want to follow them for, an investment amount and the maximum investment limit. The Follow Feature will then mimic the chosen user’s trades for you. This feature is not available for all traders. For further information contact your personal account manager.

What is the expiration time?

The expiration time is the time and date that an option expires.

What is the expiration rate?

The rate of expiry is the level at which the underlying asset is at the time that the asset expires according to Reuters. This is the level that determines whether the option has expired in-the-money or out-of-the-money. An individual expiry rate is determined for each underlying asset.

What are the rates displayed in the trading boxes?

The rate shown is a live feed directly from Reuters, which is adapted using ASKoption,com algorithms. The rates displayed in the trading boxes are the rates at which ASKoption.com is ready to sell the given options.

What return will I get in an option expires out of the money?

Your account will automatically be credited with a proportion of your initial investment. The proportion depends on the option you have chosen and will be 0-10% of the value of your initial trade.

What return will I get in case of a successful investment?

Such an investment guarantees a return of 70-81% of the amount originally invested. The payout for every successful trade is displayed on the website for each underlying asset.

How can I invest?

It is very simply. You have to choose between purchasing a “Call” or “Put” option on any asset that you wish to trade. By clicking the Call/Put button you will open a short investment sheet in the same box, whereby you will be asked to enter the amount that is being invested and confirm the execution of the trade. You are given 3 seconds to cancel a trade after purchasing it, until it automatically goes ahead.

*We bring to your attention that rates are updated continuously on the investment sheet.

What is a put option?

This is a type of option that provides its holder with a profit when the underlying asset falls in price in comparison to the level it was purchased at. If a put option expires at exactly the same price, the full initial investment will be refunded to the trader.

What is a call option?

This is a type of option that provides its holder with a profit when the underlying asset rises in price in comparison with the price level it was bought at. If the option expires exactly at the same price, the full initial investment will be refunded to the trader.

How can I change my password?

You can log into your account and go on the personal details page, where you click “Change password.”

How can I contact you?

You can contact us via e-mail, live chat (24/7) or telephone. For customer support of any other queries please e-mail [email protected].

How can I update my personal details?

You can enter “My Account”, in the “Personal Details” section, where you can update your personal details. Otherwise, you can contact us by e-mail or live chat.

What should I do if I have forgotten or misplaced my password?

In this case you can contact us by e-mail at [email protected], live chat or call the relevant customer service number in your region (in the “contact us” section).

You can also use the “Forgot Password” link, which is located on the Login of the ASKoption homepage.

You can also click the following link – Forgot Password

Your password must contain a minimum of 6 characters and a maximum of 15 characters.

Why am I not able to make a trade?

  • Assets are only available for trade during market trading hours. Outside these hours, it is not possible to make a trade on ASKoption.
  • There may be insufficient funds on your account to make a trade, in which case it is necessary to check your account balance.
  • Customers using browsers that are not supported by ASKoption may also experience difficulty. We recommend that Google Chrome and Mozilla Firefox are used when trading.
  • If none of the above instances are relevant to you, please contact our support team at [email protected] or by telephone (in the “contact us” section).

 

Is there a lockout period on 60 second trades?

No. A trade can be entered at any point and it will automatically expire in 60 seconds.

How much can I invest on 60 second trades?

On the ASKoption 60 second platform the minimum amount that can be invested is $5 and the maximum is $500.

When is 60 second trading available?

60 second trading is available when the markets in question are open.

What assets can I trade on 60 second options?

ASKoption offers 60 second trading on the assets listed below:
Commodities
GOLD/EUR
Currencies
USD/JPY
AUD/USD
USD/CAD
EUR/JPY
EUR/GBP
EUR/USD
GBP/USD
USD/CHF
GBP/JPY
EUR/AUD
Indices
DAX FUTURE
RTS FUTURE

For the full list on assets, please view our complete Asset List here.

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