OptionRally is an international binary options broker, based in Cyprus and with offices around the world. OptionRally offers various trading functions and products, in a simple and intuitive web environment. This broker has some interesting features for the Islamic/Arab world. In this OptionRally review, we highlight the strengths and weaknesses of this binary option broker.

Binary options offer

OptionRally offers binary options on equities, stock market indices, currency pairs (forex) and commodities. In total, you can trade in about 70 underlying assets, which is average. It's worth noting that this option broker offers a number of shares and indices from Turkey, India and the Middle East. This is unique as we have found no other broker with a similar product for these parts of the world.

This focus is also reflected in the available account types. Especially for Islamic traders, OptionRally has the 'Islamic Account'. On this account you will neither pay nor receive interest, and you have the opportunity to make gifts. With this, OptionRally has created something unique for in the niche market of trading Muslims.

The standard binary options offered by OptionRally are 'high/low' and 'touch/no touch'. In addition, the broker uses the option builder and binary meta software, that we know from broker Banc de Binary. This gives OptionRaly enough functionality but it does not excel.

Risk and return

The returns on the binary options at Option Rally go up to 78% (for normal options). That is not particularly high, but a unique feature of this broker is that you get to recover 10% of your invested amount in case of a loss. That means your return can effectively be up to 86%. You are better off avoiding options with actual returns below 72% (even at 10% refund in the event of loss).

OptionRally also offers a number of high-risk, high-return options with returns of up to 500%. That's obviously a great profit, but the chances that such an option ends 'in the money' is small. In your standard trading strategy, it is therefore better to use mainly 'normal' binary options.

The trading platform

The basic trading platform of binary options broker OptionRally is completely web-based, as with most other brokers. The software is easy to operate and well-organised. The option builder and binary meta platforms are slightly more complicated than the standard interface, but you get additional functionality in return.

OptionRally was one of the first brokers to develop special software for the iPhone and the iPad. If you are seriously trading in binary options, then you will want to be able to open a position at any time. OptionRally's mobile app is great for this. There is also an app for Android available.

OptionRally's trading software is not only available in English, but also in Arabic. With this the binary options broker (review) seems to give a nod to the Islamic world.

Minimum deposit size, position and bonus

The minimum first deposit for your OptionRally account is 200 pounds or US dollars (depending on the currency in which your account is noted). This is average. Unfortunately, you can only fund your account by credit card and by bank transfer (no PayPal or Skrill). The smallest option you can buy is GBP 25, which in our view could have been better.

Attention! The minimum withdrawal amount at OptionRally is GBP 100. Withdrawing money from your trading account by bank transfer costs cost an additional GBP 25 per transaction. We believe this is not in order. A broker must make it easy to withdraw and deposit money, and OptionRally doesn't do that.

New customers who open a standard account at OptionRally get a 15% welcome bonus on top of their first deposit. A unique feature with this broker is that if you decide to expand your trading capital later, you get another 10% on subsequent deposits. This makes it attractive to start small and gradually grow your account as you become more successful with broker OptionRally. Anyone who wants to trade immediately with a larger capital can start with a standard, executive or VIP account, where you can get 20-30% on top of your first deposit.

Additional services

Something that sets OptionRally apart positively is its attention to education. All traders with this broker get an account manager who will help you with questions about the software or your option strategy. This support is available in English, but not yet in Arabic.

In addition, OptionRally offers its customers a free e-book and there are online strategy-videos found on the site, with which you can learn to trade better. If you’re still learning how to successfully make money with binary options, then this is definitely added value.

Conclusion of this broker review

All in all, we are moderately positive about OptionRally. The product range and the software are adequate but OptionRally does not really stand out from other brokers. The special focus on Turkey, India and the Middle East, combined with the ability to open an Islamic account, gives this broker an edge for Muslims who want to trade binary options. The educational material and the bonuses for deposits on your trading account are also an attractive addition, especially for beginners. All in all we give binary options broker OptionRally a rating sufficient (3/5 stars).