GC Option is a binary options broker chiefly focused on forex and cryptocurrencies. You only need to make a $10 deposit to get started and the smallest possible stake is $1.
All traders here get access to GC Options proprietary platform, but if you deposit at least $100 you also get access to the WebTrader Pro platform and the famous independent third-party MetaTrader (MT4) platform.
GC Option is based in St. Vincent and the Grenadines, but is a subsidiary of the Russian-based company Grand Capital. It is unclear how and if GC Option retail traders will be impacted if international economic sanctions against Russia becomes more strict than they are at the time of writing (2023). It also remains to be seen if the company will suffer from individual traders electing to refrain from using brokers with Russian ties for their online trading.
Binary options trading
GC Option offers classic high/low options (call/put) and boundary options, but no ladder options.
The expiry times for binary options at GC range from 1 minute to 2880 minutes (48 hours).
You can elect to end an in-the-money binary option early and receive an immediate payoff, typically 40%.
You can opt to close an out-of-the-money option early and get a 10% refund of your stake.
A majority of the underlying assets are foreign currency and cryptocurrency, but it is also possible to speculate on the commodities gold and silver.
Over 25 forex pairs are available, including majors such as EUR/USD.
There are 8 different cryptocurrencies paired with the United States dollar:
The payouts tend to be lower for cryptocurrencies than for forex. The very highest payouts are for the most traded forex pairs on the global forex market; it is for instance possible to find binary options at GC that pay out 86% when the underlying asset is the EUR/USD pair. For binary options where the underlying asset involves cryptocurrency, payouts start around 60%.
Contracts for Difference (CFDs)
GC Option does not offer CFD trading.
- WebTrader Classic is available for all traders.
- WebTrader Pro is only available for traders at higher account levels (Gold Account and VIP Account). It is similar to the Classic version, but more suitable for advanced traders. It does for instance support break-out and double-touch strategies and contains more complex analysis tools.
- MetaTrader 4 (MT4) is only available for traders at higher account levels (Gold Account and VIP Account).
About the WebTrader Classic
WebTrader Classic opens directly in your browser window and can not be downloaded. It is very easy to navigate and use, and a great choice for novice traders.
Examples of what you get with the WebTrader Classic:
- Support for one-click trading
- Charts powered by the famous TradingView
- Seven customizable charts + plenty of drawing tools
- 70+ technical indicators
- The market watch feature
About MetaTrader 4 (MT4)
The famous MT4 trading platform is utilized by a wide range of brokers world wide. It is very popular among traders – maybe you are already familiar with it? It is available for both browser trading and for downloading and installing on your desktop computer. When it comes to technical analysis, it offers a wealth of features, including 30 built-in indicators, 20+ analytical objects and 9 different time-frames for charts.
For automated trading, use the native Expert Advisors (EAs) or subscribe to trading signals from independent providers.
An extensive amount of independent developers are creating plug-ins that are compatible with the MT4 platform, so your ability to change and customized according to your needs is huge when using this platform.
Mobile trading at GC Option
WebTrader Classic and WebTrader Pro can be opened in the browser window of a smartphone or tablet.
MetaTrader 4 (MT4) is available as a downloadable app for iOS and Android.
Can I use MetaTrader 5 (MT5) at GC Option?
No, MetaTrader 5 is not available.
Sign-up for a free Demo Account
You can sign-up for a free Demo Account at GC Option. It comes filled with $10,000 in play-money which you use to see if you like the WebTrader Classic. The MT4 platform is not available in Demo Account mode, which is a bit of a shame since so many other brokers will let you try out the MT4 with their respective demo accounts.
There are three account levels at GC Option: Silver, Gold and VIP.
You only need to deposit $10 to get a Silver Account and get access to the WebTrader Classis platform. The Silver Account comes with plenty of educational materials and market analysis that you can use to become a better trader.
The Gold Account requires a $100 deposit. You get all the stuff from the Silver level, but also a lot of extras that are not available in the Silver Account. With a Gold Account, you can use both the WebTrader Classic platform, the WebTrader Pro platform and the MetaTrader (MT4) platform. You also get access to trading signals and high-end integrated platform tools.
The VIP Account requires a $300 deposit. You get all the stuff from the Silver level (including all three platforms), but also a lot of extras that are not available in the Gold Account. As a VIP Account holder, you will be assigned a personal analyst and get 10% cash back on unsuccessful trades through the Recovering Trading Losses program. There will also be Expert Adviser (EA) support and risk-free trade offers to take advantage of.
The Recovering Trading Losses program makes it possible for a trader to recover 10% of their losses per month, and there is also a single day per calendar month when they will be refunded for all their losses on that day. Important: You will not be given any cash from this program. The “recovery” consists of bonus money and the bonus money comes with terms and conditions. Most importantly, you will be required to complete trades amounting to 40x the bonus amount before you can withdraw the recovered amount.
A hefty inactivity fee
It is common for brokers to eventually begin charging an inactivity fee on accounts that have been abandoned for a long time. What sets GC Option apart from the norm is that their inactivity fee is so high – $300 a month.
Deposits & Withdrawals
GC Option accepts a wide range of transaction methods, including bank transfers, debit/credit cards, e-wallets, and cryptocurrencies.
Examples of accepted methods:
- Bank transfers
- Wire transfers
- The credit/debit cards VISA, MasterCard and Maestro
- Perfect Money
The minimum deposit is $10.
A majority of the digital transfer solutions can be used for very quick deposits (15 minutes or less), while a wire transfer can take 3-5 days.
For many of the deposit methods, GC Option will not charge any fee for processing the deposit, but there are exceptions, so make sure you check the rules for the specific method you wish to use.
No deposit fees are charged by CG for cryptocurrency deposits.
Withdrawals made to digital solutions will typically take a maximum of three days, while withdrawals into banks often take 3-5 business days.
For many of the withdrawal options, GC Option will charge a withdrawal fee, from 1% to 4.5% depending on the method.
Several different currencies are available as account currencies. This can be used to reduce currency risk for traders.
At the time of writing, the available account currencies are United States dollar, Euro, Indian rupie, Malaysian Ringgit, Indonesian Rupiah, and Nigerian Naira.
GC Option has anti-money laundering protocols in place and you can expect to go through a Know-Your-Customer check before you can make any withdrawal from the account. Typically, you will be asked to provide a photo copy of a valid identification, such as your passport, national ID card or driver´s license.
GC Option offers phone support, live chat support and email support.
Phone number: +1 646 844 7187 (United States)
Email address: firstname.lastname@example.org
Live chat: You can access the live chat service at the GC Option website. Help is available in several different languages.
Two-factor authentication is used to log-in, either with a QR code or by using an external app such as Google Authenticator.
Ownership and regulation
GC Option is a part of the Russian-based Grand Capital company group. The binary options trading branch GC Option is based and regulated in Saint Vincent and the Grenadines, a small island country in the Caribbean. There is also a sister-company based in the Seychelles.
Saint Vincent and the Grenadines is not considered a top-tier regulator when it comes to retail trader protection.
GC Option is a member of the International Financial Commission (FinaCom). This is a private Hong Kong-based company and not a governmental regulator. For more information, visit https://financialcommission.org/.
Questions & Answers
Is automated trading available?
If you are using the MetaTrader 4 platform, you can carry out automated trading utilizing the Expert Advisors (EAs) feature and signal-services.
Does GC Option offer speciality accounts?
No, GC Option does not offer speciality accounts such as Ethical Investments Accounts or Islam / Muslim / Sharia / Halal Accounts. You can also not get a Demat, DMA, STP, MAM, LAMM, PAMM or ECN Account here.
Is TradingView available?
Can I use trade signals with GC Option?
Yes, if you have a Gold or VIP Account, since those accounts give you access to the MetaTrader 4 platform.
Will I have negative account balance protection with this broker?
Is GC Option a market maker?
Does GC Option offer P2P trading?
No, P2P trading is not available here.
Does GC Option offer VPS hosting?
No, this broker does not offer Virtual Private Server hosting.