Frequently Asked Questions (FAQ)
It is the movement prediction of the market in a given time frame. For example, based on the results of the chart analysis or economic analysis, you come to the conclusion that the price of an asset is going to increase in the next day. If you open a Call position in a one-day time frame, your prediction comes true, and you win the trade. Otherwise, you lose the invested money!
CloseOption is based in Georgia. It was registered on 08.08.2013. CloseOption’s “Forex” and “Options Trading” activities are permitted by the license with number B 2-08/3647, dated 10.18.2017, issued by the National Bank of Georgia. It should be noted that all our activities are in accordance with the laws of Georgia. Mr. Giorgi is the company’s lawyer and you can communicate with him ([email protected]).
According to our terms, you always have to comply with the laws of your country.
It depends on where you are living. In some countries, you are not taxed, and you can freely trade Options.
My account has been misused and I haven’t performed any operations on the platform. What should I do?
As a customer, and in accordance with the rules, you must keep your account information secure, and if, for any reason, you have resulted in unauthorized use of your account, or if you think like that, please email us at the earliest. You can also contact the company number on the “Contact Us” page or leave a voicemail.
Can I create multiple accounts? How can I authorize others to trade for me? Is it legal to sell my account?
You can only have one CloseOption account. It is important to know that the only person who can trade is the account owner and you cannot, under any circumstances, grant access to others to trade with your account or sell your account.
No, if the money in your account is unused for three months or more, the cost of holding your money (that according to the contract is half a percent per month) will be deducted from your account.
If you have a trading account which has been inactive for more than three months, a fee will be charged monthly (0.5% of your balance).
You can earn extra money by referring new traders to CloseOption. All you need is to copy your referral link (available on the “Referral” tab in your dashboard) and ask your friends to join the platform, using your referral link.
We commit ourselves to respect the confidentiality of users’ personal information. We adhere to the principle of the relationship without a third party (i.e. the direct relationship of trader and broker, or vice versa). Without the verdict of a confirmed judge, we will not share our users’ information with any person or organization. Your identity and residential documents are also encoded on our server and it is impossible for third parties to access them. Regarding money safety, we should tell you that we have met all the financial security protocols and all our customers are satisfied with our services and share their experience through friendly emails. Anyway, the issue of trust is a personal issue and is not gained merely by talking. It is recommended to deposit the minimum amount ($5) and check all the aspects of the broker (e.g. participation in the contest, trading with your Demo account, etc.) and continue trading if you are satisfied.
At first, you should verify your trading account by sending the required documents. Then, send your request for a cash gift on the “Contact Us” page and wait for the financial team.
In this market, you have the potential to make profits, and similarly, you may lose your money. By ticking the contract at the time of registration, you accept this fact and do not have the right to complain. However, we always try to keep our customers satisfied, and you can refer to the “Contact Us” page and describe your issue. We assure you that you will not regret emailing.
Trading in this market is a high-risk investment and before trading, you must ensure that you understand how the market works and what the risks are! You can minimize your risk by increasing your knowledge.
There is a probability that you lose some or all of your money. Never invest money that you cannot afford to lose.
Account & Trading
Go to the “Settings”, and on the “Member Info” tab, you can change or upload your avatar. You can also click the profile icon in your dashboard.
Go to the “Settings”, and on the “Member Info” tab, you can add or edit your nickname.
The “Call” option is selected when you predict that the price of an asset will go up and the “Put” option is selected when you come to the conclusion that the price of the asset will decline.
The price I asked for a Call/Put is different from the placed order! What is the reason? What can I do?
When you hit the Call/Put button, there is a delay of 1000 to 2000 ms until the order is placed. This delay is to compare the prices, both from the user side and the provider bank of the price. Currently, shortening this time is not possible and customers must accept it. Regarding this matter, there is a probability of opening orders with a slight price change that could be either favorable or unfavorable.
You can buy/sell 25 options per expiration!
In this case, you will receive as much as the amount of payout (at the time of opening the order) from your original money. It is called a draw!
I took a trade and the price at which it was closed was not correct (it should be closed for a profit). What should I do?
The price you see on your mobile or computer includes Optical illusion, Internet or network weaknesses or the like. Transactions are conducted in a separate server and the probability of a mistake is zero. However, if you feel that the transaction is mistaken, contact us.
No, please be careful and practice trading with your Contest or Demo account before starting real trading.
Please be cautious. Every mistake has a consequence and this is no exception!
To trade with your Demo account, it is not obligatory to be verified.
To start real trading, you can deposit via some methods without the need for approval, but you must upload your documents in your dashboard within 30 days, and the Company reserves the right to ask your documents at any time.
To participate in our weekly contests, you must first approve your account.
To approve your account, please go to your dashboard, “Settings” and click the “Account Approval” tab. Then upload your documents. You must upload your identity (e.g. passport or ID card) and address proof (e.g. bill or bank statement).
This process normally takes up to two business days.
The ”Promotion” page is the reference for our available bonuses and specifies their status. When a bonus is active, its start and end dates are mentioned on this page.
No, on Saturdays and Sundays due to the extra volatility, the market is closed. Moreover, the majority of the world's financial markets are closed.
Some brokers attempt to generate a series of unrealistic prices. This causes traders to lose their money.
To close your CloseOption account:
go to the “Settings” in your dashboard,
select the “Change Password” tab,
at the bottom of the page, you can close your account.
Our emails contain an “Unsubscribe” link and by clicking this link you choose to stop getting our emails.
No, the payout is not fixed and at some hours due to the market volatility or placing many orders in a short time, it may decrease or increase. Traders should be cautious and check it before taking trades. The minimum amount during these hours is 30%!
We work with different providers, and our clients' risk is reported to them. Regarding the possibility of covering orders, the payout is different, and its amount depends on the intermediary bank and the providers' decision. Generally, this change happens for those traders who trade excessively in short time frames (30-second to five-minute trades). You should try to have daily, weekly or monthly trades so that the provider who reviews accounts over the course of the month, increases your payout. Unfortunately, we do not have full control over the amount of the payout, and you should check the payout before taking trades.
You can deposit $5,000 per transaction.
I made a deposit using one of your payment methods. Is it possible to withdraw via a different method?
Generally, traders should withdraw via the same method they deposit. In case of making deposits through different methods, it is possible to withdraw via the same methods to a specified ceiling. In some special cases, at the financial team’s discretion, there is a possibility of using another method other than the primary option. To this end, you must submit a ticket in advance!
Yes, we process withdrawal requests by sending money to the account through which you deposit and it must be under your name.
For Bitcoin, Perfect Money and Web Money deposits no fees are charged, but for deposits via bank cards, there is a fee ranging from 1% to 8.4%. This fee is due to the currency exchange rate (your money is first converted to the Chinese yuan) and varies across international banks and different gateway providers. However, as one of our promotions, this fee is covered by CloseOption.
Web Money, Perfect Money, and PayPal deposits are instant. However, a Crypto payment may take up to 30 minutes.
If I select a credit card or PayPal as my preferred payment method, is it possible to withdraw the profit via the same method as well?
In both cases, your initial money will be refunded, and you can withdraw the profit via other methods (e.g. Bitcoin, Web Money, Perfect Money, Wire Transfer, etc.).
Traders who deposit via PayPal (or cards such as Visa Card, MasterCard, American Express, etc.) are not allowed to refund their lost money, and if they are not satisfied with our services in some ways, they should inform us and try to resolve the issue. In case of a PayPal refund claim, we refer the case to our lawyer to resolve the issue preferably peacefully!
After a normal follow-up by the customer service department, if it is certain that the claim has been filed by mistake or that the client unknowingly or unwillingly has filed the refund claim for any reason, and then he/she closes the case, the company will ignore his/her mistake. It is strongly recommended that in case of any dissatisfaction, first of all, try to resolve the problem by writing your issue to the Company's email address. You should contact us and state your issue. We assure you that this is in your favor. However, if the case proves to be filed deliberately (in any form and title) or the trader refuses to close it, the case will be referred to the company's lawyer and at his discretion, a complaint will be filed in Georgia's courts.
For cryptocurrencies, Perfect Money and Web Money the minimum withdrawal is $1, for the bank withdrawal $500, and finally, for the credit card withdrawals (in the form of refunds) the minimum amount is $20. Furthermore, the maximum amount for a withdrawal request is $10,000 but there is no limit on the total amount per day. You can have multiple withdrawal requests if needed.
No, we comply with Anti-Money Laundering (AML) laws and abstain from performing suspicious financial activities.
It normally takes up to 3 business days.
For some methods (e.g. Cryptocurrencies, Perfect Money and Web Money) no fees are charged. However, for wire transfer withdrawals, depending on the withdrawal amount the fee ranges from $50 to $100. Card withdrawals are done in the form of refunds, and the process usually doesn't include a fee unless the money is converted into another currency and this is outside the control of CloseOption. In case of a high fee, please email [email protected] to cover the fee (if possible).
No, this money is virtual.
In the case of a credit card or PayPal deposit, is it possible to withdraw the profit via these methods?
In both cases, your initial money will be refunded, and you can withdraw the profit via other methods (e.g. Bitcoin, WebMoney, Perfect Money, Wire Transfer etc.)
The entry fee is $10.
Yes, once your prize is credited to your account, you can withdraw it.
This process is the same as a normal withdrawal request and takes up to three business days.
The contest is usually held once a week.
Prior to announcing the results, we check all orders and then announce the final results on the “Contest” page.
Cloin is an Ethereum based token that aims to facilitate and accelerate transactions in a secure environment. Thanks to the token's initial low price, it provides the opportunity for traders with relatively small budgets and little experience to benefit from their trading journey. Cloin will be listed on trusted binary options and forex trading brokers as a payment option and asset.
By the first three months, the token will be listed on trusted exchanges, and traders can profit from the asset's price movements and fluctuations in the market. Also, Cloin developers aim to form and extend a permanent Cloin community with Cloin holders through digital marketing and social media.
Within six months, a payment cart will be embedded on CloseOption that allows developers to create tokens similar to Cloin and use the feature to deliver their services and promotions. In other terms, the cart feature will enable partners to create their tokens and implement them on the website, making them accessible for traders to use for transactions.
By nine months, the Cloin team will have expanded the CloseOption platform to implement the new features and started the traders' supporting program by providing educative content and helpful news on the market to make CloseOption a full-featured comprehensive trading environment.
Finally, the Cloin team will have developed an independent blockchain network for the token by the end of the envisioned one-year schedule. The blockchain is to facilitate the foundation of other support-oriented projects similar to Cloin and their implementation in financial markets and the insurance industry.
Go to the Deposit section. Select the Cloin payment method. Click Next to specify the number of tokens. At the next step, copy the provided wallet address and after sending the required cloins, provide the transaction ID. Then, check the agreement box and confirm it. To finalize your payment, click Submit.
Go to the withdrawal section. Select Cloin as your withdrawal method. Click Next to enter the desired amount. At the next step, submit your wallet address. Your request will be sent by proceeding to the next step, and the last thing you need is to activate your withdrawal request by checking your email and clicking the activation link. Please note that processing your withdrawal request may take up to 3 business days.
The Ethereum ecosystem guarantees its tokens' security, and the transactions are under Ethereum security instructions.
A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money, or the money paid by subsequent investors, instead of from profit earned by the individuals running the business. Ponzi schemes are designed to collapse at the expense of the last investors when there are not enough new participants. If you read Cloin's whitepaper and plans, you will understand that Cloin is not designed for such activities; Therefore, we cannot consider Cloin as a Ponzi project.
You can find further information about Cloin's developer team and their partners through the following link:www.cloin.io
On a financial basis, by developing Cloin, CloseOption means providing a safe environment to execute users' transactions and instituting a mechanism that accrues benefits to the broker's senior users.
By buying/depositing cloins, you can benefit from the following advantages:
Free competitions to win cash
The possibility to return a part of your deposit
Free second chance and accelerator coins
Trust comes with time. As the token will prevail in the market and several exchanges list it in their charts, you can trust the token and its value.
Cloin is designed to allow its users to send and receive payments with an acceptable level of privacy as well as any other form of money. But, of course, Cloin is not as anonymous as cash. The use of Cloin leaves extensive public records, and the details of the transactions are available on Ethereum block explorers for anyone. But still, the identity of users will always be unknown.
Transaction fees depend on the Ethereum gas fee since this token was created and launched on the Ethereum Blockchain system.
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