GC Option Review 2024

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GC Option is a dedicated binary options broker with 86% payouts. Users can trade on the brand’s WebTrader Classic and Pro platforms, plus MetaTrader 4. Contract lengths range from 1 minute to 48 hours and traders can speculate on currencies, metals, and cryptos.

Our experts tested GC Option to help you decide whether to sign up with an account. Our review unpacks binary options contract specifications, from minimum trades and payouts to early closures.

GC Option Headlines

GC Option is part of Grand Capital, a global forex and CFD broker. The 15-year old company has over 750,000 clients worldwide and has picked up awards for its competitive trading conditions.

GC Option offers straightforward binary options. Clients simply decide whether the price of a security will rise or fall, with 30 assets available. If traders are correct, they receive a fixed payout, while incorrect predictions will mean foregoing the original stake.

New users can get started with a $10 minimum deposit and the broker accepts bank cards, wire transfers, electronic payment methods, and cryptocurrencies. The minimum trade size is also just $1, making the brand popular with beginners.

Assets

GC Option offers 30 assets spanning forex, metals, and digital currencies. This includes majors like EUR/USD and GBP/USD, cryptos like BTC/USD and ETH/USD, plus gold and silver.

It is worth noting that this is a relatively limited list of underlying assets. Some competitors, such as Pocket Option, offer over 130 products.

Payouts

Our experts found that the highest payout available is 86%, offered on EUR/USD. The remaining majors are available up to 85% while minors are offered at 80%. Payouts on metals and digital currencies are 60%.

Again, it’s worth noting that some binary options brokers offer higher payouts, including Quotex.

Other Contract Specifications

Contract expiries range from 1 minute to 48 hours, though it varies between supported trading platforms.

When we used GC Option, we were pleased to see an early closure feature. This means traders can get a refund of around 20% if they see their trade is going to finish out-of-the-money.

Trading Platforms

WebTrader

GC Option’s WebTrader Classic and Pro platforms are available via all major web browsers.

The web platforms are easy to use and suitable for beginners. The terminals offer one-click trading, charts from TradingView, more than 70 technical indicators, plus a market watch feature and a tool for comparing instruments.

The Pro platform supports more advanced trading features, including double-touch and break-out strategies. Sophisticated analysis tools and customisable charts are also available.

Note, only the Gold and VIP accounts provide access to WebTrader Pro.

How To Place A Trade

To place a binary trade on GC Option:

1. Select an instrument from the market watch widget on the left
2. This will open a price chart and an order window
3. In the order window, enter the trade size and contract duration
4. The possible profit should automatically update
5. Select ‘higher’ or ‘lower’ to confirm the trade

MetaTrader 4

GC Option is one of a select few binary options brokers that offer MetaTrader 4. The MT4 terminal can be downloaded to desktop devices or can be accessed through a mobile-friendly app and web solution.

MetaTrader 4 is a good option for conducting detailed analysis. The platform comes with 30 indicators, 23 analytical tools, and a range of timeframes. The MetaTrader market is also home to additional drawing tools and custom indicators.

Account Types Explained

GC Option offers three accounts:

Silver

• Investments from $10
• WebTrader Classic
• 27 trading instruments
• Free education
• Free analysis

Gold

• Investments from $100
• WebTrader Classic, Pro & MT4
• 27 trading instruments
• Free education
• Free analysis
• Trading signals

VIP

• Investments from $300
• WebTrader Classic, Pro & MT4
• 27 trading instruments
• Free education
• Free analysis
• Trading signals
• Personal analyst
• Ability to use EAs
• Risk-free trading
• 10% refund on losing trades

Demo Account

The GC Option comes with $10,000 in paper money. Traders can use the demo account to try the broker’s binary options products and test the WebTrader Classic and Pro platforms (MT4 is not available).

You can sign up for the demo account on the GC Option homepage.

Deposits & Withdrawals

GC Option supports various payment methods:

Bank Transfers

The broker accepts payments via Bank Windhoek, FNB Namibia, GTBank Nigeria, Ngan Luong, and help2pay. Mastercard and Maestro cards are also accepted. Typical processing times are between 15 minutes and 5 days.

There could be a deposit charge depending on the bank, for example, GTBank Nigeria charges 52.50 NGN. There is a 2.5% commission for Ngan Luongand and a 3% fee for help2pay.

For withdrawals, Bank Windhoek, FNB Namibia, and YES Bank charge a minimum of 5 USD or 1%. GTBank Nigeria has no withdrawal fee, but Ngan Luong charges 1%. Help2Pay takes IDR 30,000.00 / VND 50,000.00 / THB 100.00 / MYR 10.00 per settlement request.

Electronic Payments & Cryptos

GC Option accepts Bitcoin, Ethereum and Tether. The broker also supports ChipDeals MoMo, FasaPay, Growpay, PayTrust, PaylivreGateway, and Perfect Money. Typical processing times are around 15 minutes.

The broker will cover any deposit fees, however withdrawal commissions are determined by the blockchain or originating bank and can range from 0 – 1.5%.

Local Transfer Agents

Supported local transfer agents include Forex Rebate Changer (Indonesia), the Indian Exchanger (India), and Sentraegold (Indonesia). Typical processing times are between 5 minutes and 1 day.

There is no deposit fee but there may be a withdrawal charge depending on the bank.

GC Option Bonuses

GC Option offers two promotions:

• Day of risk-free trading – This is available to all account holders. Traders can choose the date the loss will be compensated for in the “Day of risk-free trading” field in the “Bonuses” section of their personal account. The promotion is available once per calendar month and a deposit needs to be made in that month. The maximum compensation is 10,000 USD.
• Commission-free deposits – This is available on all payment methods except blockchain / cryptos and bank transfers. GC Option will essentially cover any fees incurred and will credit client accounts with the amount charged.

Advantages

While using GC Option, we found several reasons to open an account:

• 30 assets covering forex, metals and cryptos
• Expiry times from 1 minute to 48 hours
• Award-winning binary options broker
• Day-of-risk-free trading promotion
• $1 minimum trade size
• Secure 2FA login
• Loss refunds
• 86% payouts

Disadvantages

Downsides of the GC Option offering include:

• No binary options on stocks
• Unregulated brand
• Withdrawal fees

Customer Support

GC Option handles customer queries via email, live chat, and a help form. The support team is open Monday  to Friday between 6:00 AM and 6:00 PM GMT.

• Phone – +1 646 844 7187
• Email – support@grandcapital.net

Opening Hours

Trading hours for all 30 trading instruments are from 01:00 – 23:00 GMT. You can view opening hours within the platform interface.

Head to the broker’s social media channels on Twitter and Facebook for news of any closures and holidays.

UK Regulation & Security

GC Option does not hold a license with the UK Financial Conduct Authority (FCA). This is standard in the binary options industry – the British regulator does not give licenses to binary brands.

GC Option is based offshore in Saint Vincent and the Grenadines and has ties to an established broker – Grand Capital. The company also offers two-factor authentication (2FA) on its trading platforms to reduce the risk of hacking and security breaches.

Final Thoughts On GC Option

GC Option is run by its parent company Grand Capital, which has more than 15 years of experience. The broker offers relatively decent payouts, opportunities on several asset classes, plus a day of risk-free trading. The availability of MetaTrader 4 is also rare among binary options brokers.

On the downside, the firm is unregulated, so prospective traders should be careful when investing online. Also, GC Option charges withdrawal fees and is less well-known that alternative binary brands.

FAQ

Top 3 GC Option Alternatives

These brokers are the most similar to GC Option:

1. IG Index - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
2. XTB - Founded in 2002 in Poland, XTB now serves more than 1 million clients. The forex and CFD broker combines a heavily regulated trading environment with an extensive selection of 6400+ assets and a commitment to trader satisfaction, featuring an intuitive in-house platform with superb tools to support aspiring traders.
3. CMC Markets - Established in 1989, CMC Markets is a respected broker listed on the London Stock Exchange and authorized by several tier-one regulators, including the FCA, ASIC and CIRO. More than 1 million traders from around the world have signed up with the multi-award winning brokerage.

GC Option Feature Comparison

Trading Instruments Comparison

GC Option vs Other Brokers

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