Beast Options Review
At first glance Beast Options looks like a great option for trading options.
- They accept US customers.
- They offer a $500 demo account, FREE, for 72 hours.
- They accept bitcoin.
- They offer free trader education
- They offer an initial $1,000 initial deposit bonus, plus a bevy of other promotions and contests.
Sounds good, right?
But first looks can be deceiving – especially for bitcoin users.
Will it be enough to stop you from checking them out?
That’s up to you. To me they look like a decent place to trade. But I found some details that I’ll share below that may cause you to think otherwise.
Name: Beast Options
Established year: 2014
Languages: English, Russian, Japanese
US Players: Yes
Cashout times: Fast
Other crypto currencies accepted: Litecoin
PROS VS. CONS
They offer an extensive library of trading resources.
They have an in-depth FAQ page.
They have a $1,000 bonus.
Free video library, trading courses and ebook.
They’re not mobile responsive.
They require customer verification.
Take up to 1 week to process withdrawals.
They turn deposits into fiat currency.
They have a $100 minimum deposit.
(Other) Banking Options
Let’s start with bitcoins.
Beast Options started accepting bitcoin last December. The option to withdraw with bitcoins came the following February.
Deposits will hit your account within 2 hours – and they’ll be turned into fiat currency.
And withdrawals are processed once per week.
This all but eliminates the core benefits to using bitcoin.
According to Beast Options:
Bitcoin withdrawals are available but Beast Options should be considered a vehicle for converting Bitcoin into cash. All withdrawals no matter the type of deposit will only be released after the trader has had his account verified. Withdrawals of any kind are not instant and will go through a manual process this means the price of Bitcoin could be drastically different at the time the payment is issued.
There you have it – there’s their weakness.
If that’s a turnoff, that’s too bad. They’re one of the only brokers that both accept bitcoin, offers promotions and more than one trading option.
You can always go with another banking option, too. Beast Option also accepts:
- JCB Credit Card
- Diners Club International
- Yandex money
- QIWI Wallet
- Astropay Card
- Bank Transfer
- International Money Transfer
If you run into any issues – or simply have a question – you can contact Beast Option’s support at: email@example.com. They have a form on their site, as well as live chat.
That leads us to…
How We Rate Beast Options
So… does the bad outweigh the good? Can you look past Beast Options shortcomings?
I can’t answer that for you.
For me, the biggest downside is that bitcoin is treated like any other banking method. So what’s the point in using it then, especially if you run the risk of the value changing while in transit?
Other than that, they appear to be a very solid trading platform. You really get a little bit of everything here, from promos to 200+ assets and tons of resources to learn from.
So at this stage I would rate them an A- (relative to other platforms).
But that’s my opinion – check them out and decide for yourself.