Redwood Options Withdrawal

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RedwoodOptions.com Review

Year Established:В 2020

Platform:В SpotOption 2.0

Min. Deposit:В $200

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Doesn’t Accepts US Regulation Payout
None Up to 81%

UPDATE Jan 2020:

Redwood Options is the latest broker to stop accepting US customers. This is generally an indication that a broker is on the path to regulation. In late 2020 Redwood updated their platform to SpotOption 2.0. The new platform has many advanced features such as colored charts, long term options, 30 second options, pair options and Ladder Options.

Redwood Options was established in early 2020 and and is one of the newest SpotOption brands. They claim to have incorporated many of the best qualities of the other other top brands such as TradeRush and iOption in terms of professionalism, performance and service. In our review we will see how Redwood measures up with some of the other top brokers.

Summary of our Redwood Options Review

Trader Information
Payout % 81%
Minimum Deposit $200
US Friendly No
Demo Account Yes
Bonus 20% – 100%
Currencies USD, EUR, GBP, AUD, CAD
Open your FREE account at Redwood

Platform Overview
No. Assets 100
Asset Classes Stocks, Currencies, Commodities, Indices
Trading Features Standard, Option Builder, One Touch, 60 Seconds, Pro Trader
Software Platform SpotOption
Open your FREE account at Redwood

Customer Service :В Their support team is available 24/5 in multiple languages.В I found them very helpful and responsive when I contacted them.В They can be contacted through phone, e-mail or live chat.

Deposit/Withdrawal :В As with most brokers credit car deposit and withdrawal went smoothly.

Trading/Execution :В Trading and execution was satisfactory.

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Features : В Redwood has a full range of trading choices including 60 Second Binary Options, One Touch Option, Pair Options, Roll Over and Double Up.

Trading Education and Market Data

Redwood will provide you with your own personal account manager, an experienced trading expert who gives you tips about how to improve your trading performance.

They also provides you with daily, weekly and monthly news updates, as well as В financial charts.

Another important advantage to Redwood В is that they use the SpotOption trading platform which received the first CySEC binary option license, ensuring a highly secured website which adheres to Cyprus financial regulations.

To take a look at Redwood and explore their platformВ Click Here .

Redwood Options Details

Assets Available to Trade: Assortment of 21 Stocks, 13 Currency pairs, 8 Commodities and 19 Indices.

Currencies Accepted for Deposit: USD, EUR, GBP, JPY

Minimum Deposit Amount: 200 USD, 200 EUR, 200 GBP, 200 JPY

Minimum Trade Amount: $10

Deposit Methods: Visa, MasterCard, AMEX, Maestro, Moneybookers and Wire Transfer

Withdrawal Time Frame: Up to two business days to process the request

Support: Redwood has 24/5 Live Chat, customer phone support and Skype support available in English, Spanish, French and Japanese, with support in Russian as well. Trading platform is translated into English, Spanish, French and Japanese.

Bonus Structure: В Deposit bonus varies per customer. Check with Customer Support before depositing to confirm bonus offer.

Redwood Binary Options Scam

RedwoodOptions.com have been the fastest growing binary broker of 2020 and one of the fastest we’ve ever seen. Is Redwood legit or are they a scam for US traders? The service our traders have received has been excellent and they definitely are US friendly. So with no complaints and so far only good experience we’re feeling good about this broker. We’ll keep an eye on them and let you know.

Redwood Platform Trading and Features

Trading System

When you click the Trading Platform tab on the RedwoodВ homepage , you will see a trading screen. The Trading Screen shows you 5 different trading choices: Binary Options, Option Builder, В OneTouch60 Seconds and Open Platform (Pro Trader).

Binary options trades are standard Call/Put trades.В The default trade screen displays the Binary Options Top Picks , which includes 3 Binary Option Trade boxes.

Just select Commodities, Currencies, Indices, Stocks or Pairs by clicking on one of the tabs.В You can choose whatever binary option trade you like at all times by clicking on the drop down menu in each trade box.

Redwood offers the following Trading features:

Option Builder

You can set your trade settings and view the trade risk.

Open Platform

An advanced, professional chart depicting important data about various binary options you may wish to trade.

One Touch Trading

You can predict whether a stock will reach a specific price during a certain period of time. You don’t have to wait for the expiry time to be in-the-money; once the price of the underlying asset has been reached, you’ve earned your profit right away.В With Redwood you can earn up to 500% on One Touch trades.

60 Second Binary Options

60 Second Binary Options are standard Call/Put Binary Options with a short 60 Second expiry.

When trading 60 second options, you can choose to double your investment with the Double Up feature, or you can use the Rollover feature to add time to your trade for a commission.

To find out more about Redwood or to open an account В Click Here

Redwood Options Review

Overview

Introduction Redwood Options is a binary options trading broker owned and operated by Red Tulips Consultants Ltd. The company was founded in 2020 and its headquarters are located at 1A, […]

Full Review Details

Broker Redwood Options
Website URL NEW https://www.redwoodoptions.com/
Founded 2020
Headquarters 1A, Arcade House Temple Fortune, London NW11 7TL, UK
Support Number South Africa: 27213008042| Saudi Arabia: 9668111124854| Singapore: 6531590601| Sweden: 46313613573| Canada: 16047575953| Australia: 61280156814| USA/Canada: 1-800-986-6750|UK Toll Free: 0-800-520-0936
Support Types Email, Telephone, Live Chat
Languages English
Minimum 1st Deposit $200
Minimum Account Size $200
Bonus Up to 100% Opening Bonus
Payout up to 81% on 60 Second options and up to 500% on one Touch options
Free Demo Account
Deposit Methods Credit/Debit Cards, Bank Wire Transfers, Electronic Payments
Withdrawal Methods Credit/Debit Cards, Bank Wire Transfers
Number of Assets 100+
Expiry Times 30s, 60s, 90s, 5m, 15m, 30m, 2h, 4h, 8h, 12h, 2d, 3d, 4d, 5d, 7d
Types of Assets Currencies, Commodities, Indices, Stocks
Option Types Binary Options, Pairs, Long Term, 60 Seconds, One Touch, Ladder, iFollow
Account Currency EUR, USD, GBP, CAD, AUD, JPY
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score 72

Screenshots

  • Mobile Trading
  • High Payouts
  • Multiple Trading Types
  • US Clients
  • Few Languages

Full Review

Introduction

Redwood Options is a binary options trading broker owned and operated by Red Tulips Consultants Ltd. The company was founded in 2020 and its headquarters are located at 1A, Arcade House Temple Fortune, London NW11 7TL, UK.

Redwood Options is one of the leading brokers in terms of the number of tradable options available on its platform, with a total of seven, which gives traders a wide variety of choices.

Bonuses and Offers

Redwood Options offers up to 100% in signup bonus, and also has several other methods that existing traders can use to make alternative gains to their trading profits. These include refer a friend and binary option affiliate programs.

Trade Types

Redwood Options has got you covered in a variety of ways so whether you are a short-term/long-term, or a sophisticated binary options trader, you are most likely to find a way to get yourself involved via their platform.

  • Binary Options: the classical call/put binary options with up to 81% in payouts.
  • Pairs: compare two assets and predict the one that is likely to come out top by the time the option expires. Get it right, and you are due for a massive payout.
  • Long Term: this one is for the binary options traders who like to factor in a number of items when trading like upcoming news events and other fundamental analysis.
  • Sixty Seconds: This is for the technical trader who is not concerned about the fundamental views. Traders can turn profits by the minute, up to 81% in payout as well.
  • One Touch: The broker identifies a certain level that binary options traders can predict whether or not the price of the underlying asset will reach with a week’s time. Get it right (price reaches the level at least once during that week), and you receive up to 500% in payout.
  • Ladder: This is somewhat similar to One Touch. The only difference is that instead of one level per trade, there are several set by the broker. The level of payout increases with the increase in distance from the prevailing market price towards the trader’s predicted direction. Traders can close their position once a certain level is reached
  • IFollow: This is more like Copy Trading. You can choose an amount and place it to copy the gain in percentage of a particular trader within a certain period, normally a week.. If they make 70%, then you make 70% on your investment.

Asset Index

  • Currencies: USD:SGD, USD/SEK, NZD/JPY, Gold/EUR, GBP/NZD, GBP/JPY, GBP/CHF, GBPCAD, EUR/SEK, EUR/GBP, EUR/AUD, CHF/JPY, CAD/JPY, AUD/USD, AUD/NZD, AUD/CHF, AUD/JPY, USD/ZAR, USD/TRY, USD/RUB, USD/JPY, USD/CHF, USD/CAD, NZD/USD, GBP/USD, EUR/USD, EUR/GBP, EUR/JPY
  • Indices: VIX, TZA-Short X3, TSX 60, TNA-Long X3, STRAITS Times, S&P Future, OMX C20, Nikkei Future, NASDAQ Future, Nifty Future, IBEX Future, IBEX, FTSE Future, France 40 Future, France 40, FAZ-Short Banks, Dow, Dollar Index Future, DAX Future, BOVESPA Future, ASX Future, TOPIX, Tel Aviv 25, TADAWUL, S&P 500, RTS, Nikkei 225, NASDAQ, MICEX 10, KL Future, ISE 30, Hang Seng, FTSE 100, Dubai
  • Stocks: Wynn Resorts, Volvo, Vivendi SA, Twitter, Vodafone, Total SA, Telefonica, TATA Steel, Starbucks, Salesforce, S.Bank India, Rio-AU, Rio Tinto, Renault, Publicis Group, Pfizer, Petrobras, Orange S.A, Netflix, McDonald’s, MasterCard, Louis Perfumes, LinkedIn, Las Vegas Sands, JPMorgan Chase, Groupon, Google, Goldman Sachs, General Motors, Freeport McMoran, FIAT, Facebook, F5 Networks, Exxon Mobil, eBay, Disney, Deutsche Telekom, Deutche Bank, Danone SA, Daimler AG, Citigroup, Caterpillar, Boeing, BNP Bank, BMW, Barclays, Bank of America, Baidu, AXIS Bank, ANZ Bank, Amazon, Allianz SE, AIG, 3M, TEVA TA, Tesco, TATA Motors, SBERBANK, Nissan, Lukoil HSBC Holdings (London), Gazprom (RU), Coca Cola, BP, Apple, IBM, Microsoft
  • Commodities: Corn, Wheat, Sugar, Silver, Platinum, Crude Oil, Gold, Coffee

Trading Tools

Redwood options platform is equipped with several trading guides including eBooks, guides and glossaries.

The trading videos present traders with an opportunity to learn about the company’s trading platform, as well as, insights on how to lock profits in binary options.

The trading eBook is a resourceful guide to traders and is available free for download on the company’s trading platform.

The company has also established an academy where traders can take various trading courses to further their binary options trading skills, across all levels of expertise from beginner to advanced binary options trading. The glossary of terms is also very crucial in discussing some of the terminologies used in binary options trading.

Redwood Options has recently launched mobile applications for iOS and android devices to enable on-the-go trading a key feature in today’s markets.

Deposits and Withdrawals

Deposits

Redwood Options has three major methods that traders can use for deposits and withdrawals which include wire transfer, credit/debit cards and electronic payments.

Traders can open accounts in either of the following currencies: USD, EUR, CAD, GBP, AUD and JPY.

The minimum deposit is EUR/USD/GBP/AUD/CAD 200 for electronic payments and credit cards, while wire transfer requires a minimum deposit of $500.

The maximum deposit via electronic payment or credit card $5,000 while there is no limit for wire transfers.

Traders are required to verify their identity/physical address depending on the method of funding used.

Withdrawals

Traders can withdraw money via two main methods, credit/debit card or wire transfer. Redwood Options accepts credit/debit cards from MasterCard, Visa, Solo, Diners Club, Delta and American Express.

The minimum withdrawal amount is $100 and traders are required to verify their identities/physical address by submitting various documents on their first withdrawal.

Support

Redwood has a dedicated support that can be accessed via three main avenues which include telephone, email and live chat.

Live Chat: 24/5 Live Support

Email: [email protected] –general enquiries

[email protected] – for technical enquiries

[email protected] -for financial enquiries

Telephone: South Africa: 27213008042

Withdrawing funds

The acquirer reference number, or ARN, is a unique number that tags a credit card transaction when it goes from the merchant’s bank (the acquiring bank) through the card scheme to the cardholder’s bank (the issuer). This number can be used by issuing banks to trace a transaction with an acquirer.

It is very important to give the ARN codes to your bank’s Processing Center (the employees of a general client office sometimes are not aware of these codes and their use). If you are not able to visit the Processing Center, contact the bank officers responsible for processing card operations. They will help you to track the money.

1. To withdraw your funds, go to the Withdraw Funds section. Choose a withdrawal method, specify the amount and other data required, and click the “Withdraw Funds” button. We do our best to process all withdrawal requests within the same day or next day if outside working hours on business days (weekends excluded). Please note that interbank (bank-to-bank) payment processing may take a bit longer.

2. The number of withdrawal requests is not limited. The withdrawal amount should not exceed the amount of your current trading balance.

*Withdrawals return money that was paid in a previous transaction. Thus, the amount you can withdraw to a bank card is limited to the amount of money you deposited using this card.

Appendix 1 shows a flowchart of the withdrawal process.

The withdrawal involves the following parties:

2) Acquiring bank – IQ Option’s partner bank

3) International payment system (IPS) – Visa International or MasterCard

4) Issuing bank – The bank that opened your bank account and issued your card

In case of malfunction on the side of one of the above-mentioned parties during the withdrawal process, there might be issues with funds being credited to the card. At the moment of the withdrawal on the eu.iqoption.com website, IQ Option provides information about the transaction to the acquiring bank. The acquiring bank assigns a unique ARN* code to the operation and passes it to the IPS. The IPS then assigns a unique RRN* code and transfers all the information to the issuing bank. The issuing bank processes the operation and credits the funds to your card.

*ARN and RRN identification codes serve as proof of successful withdrawal transactions. The ARN and RRN codes are unique for every transaction and prove that this exact transaction was successful.

3. Flowchart of funds withdrawal from the trading balance to a bank card. (Appendix 1)

4. Possible malfunctions

If 15 calendar days have passed after the withdrawal request but the funds were not credited to the bank card, please contact IQ Option Support through your Profile (or send email to [email protected]).

In your message to the support team, it is important to mention the dates and amount of the withdrawal not credited to the bank card (please make sure that 15 calendar days have passed before writing a message to the support team). We also ask that you attach a credit card statement issued and signed by the bank.

4.1. If the transaction is not successful, the support team will provide an explanation of what happened and advise you on what steps need to be taken.

4.2. If the transaction is successful on the sides of both IQ Option and the IPS, customer support will provide the unique identification numbers (ARN, RRN) for the non-credited transactions.

1) Fill out the form Template 1.

2) Take it to the issuing bank’s processing department (the department responsible for processing payments, which may be called the processing center, payment services support department, bank card operations support department, etc.). The issuing bank should be able to use the ARN and RRN codes to track the withdrawal transactions. If the bank failed to track the transactions with the help of the codes, they should sign the document provided. This document should be sent to the IQ Option support team ([email protected]). Please do not forget to mention that the funds were not credited. IQ Option can forward this form to the IPS only if there is an official reply stating that operations were not processed or not found by the issuing bank.

Upon submission of the completed form from Template 1, an investigation will be opened with the relevant payment processing company and/or third party involved with the processing of your payment(s). It is important for you to note and acknowledge that such investigation is carried out by third parties outside of IQ Option’s control and is generally completed within 30 to 180 days. As such, IQ Option is unable to guarantee and/or influence the time period required for the completion of the investigation.

*ARN (Acquirer’s Reference Number) is a unique transaction code assigned by the acquiring bank.

*RRN (Retrieval Reference Number) is a unique transaction code assigned by the payment system.

Your withdrawal method will depend on the deposit method.

If you use an e-wallet to deposit, you will only be able to withdraw to the same e-wallet account. In order to withdraw funds, make a withdrawal request on the withdrawal page. Withdrawal requests are processed by IQ Option within 3 business days. If you withdraw to a bank card, a payment system and your bank require additional time to process this transaction.

Conditions may vary depending on location. Please get in touch with Support for precise instruction.

For every withdrawal request, our specialists need some time to check everything and approve the request. This is usually no more than 3 days.

We need to make sure that the person who makes a request is really you, so that nobody else can access your money.

This is necessary for the security of your funds, along with the verification procedures.

After that, there is a special procedure when you withdraw to a bank card.

You can only withdraw to your bank card the total amount deposited from your bank card within the last 90 days.

We send you the money within the same 3 days, but your bank needs some more time to complete the transaction (to be more precise, the cancellation of your payments to us).

Alternatively, you can withdraw all your profits to an e-wallet (like Skrill, Neteller, or WebMoney) without any limits, and get your money within 24 hours after we complete your withdrawal request. This is the fastest way to get your money.

Yes. You need to verify your identity in order to withdraw funds. Account verification is necessary in order to prevent fraudulent financial transactions on the account.

To pass the verification process, you will be kindly asked to upload your documents on the platform using the links given below:

1) A photo of your ID (passport, driver’s license, national ID card, residence permit, refugee identity certificate, refugee travel passport, voter ID) here. You can use our video tutorials for details.

2) If you used a bank card for depositing money, please upload a copy of both sides of your card (or cards if you used more than one to deposit) here. Please remember that you should hide your CVV number and keep visible the first 6 and the last 4 digits of your card number only. Please make sure that your card is signed.

If you use an e-wallet to deposit funds, you need to send us a scan of your ID only.

All the documents will be verified within 3 business days after you make a withdrawal request.

1) After a withdrawal request is made, it receives the “Requested” status. At this stage, funds are deducted from your account balance.

2) Once we begin processing the request, it receives the “In process” status.

3) Funds will be transferred to your card or e-wallet after the request receives the “Funds sent” status. This means that the withdrawal has been completed on our side, and your funds are no longer in our system.

You may see the status of your withdrawal request at any time in your Transactions History.

The time when you receive the payment depends on the bank, the payment system or the e-wallet system. It is approximately 1 day for e-wallets and usually up to 15 calendar days for banks. The withdrawal time could be increased by the payment system or your bank and IQ Option has no influence on it.

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