GC Options is a retail broker that offers binary options, forex, and CFD trading. Like many platforms in this niche, it offers a proprietary web-based trading platform designed to appeal to inexperienced traders who seek simplicity.
As can be expected of a retail binary options broker, GC Options is not based in any of the jurisdictions known to actively supervise retail brokers and enforce strong trader protection rules. If something goes wrong, you can not expect much help from any financial authority. GC Options is for traders who are okay with that type of risk.
Trading Platform Experience
GC Options has a proprietary web-based platform. It is designed for ease of use, allowing binary options clients to quickly select assets, set expiry times, and place binary options trades. The platform also includes basic charting and indicators, but it lacks the advanced functionality of platforms like MetaTrader 5 and cTrader, including automated trading, custom scripting, and comprehensive analysis tools. While the simplicity of the proprietary platform may appeal to beginners, experienced traders may find the platform restrictive.
Examples of available binary options types are High/Low (Call/Put) and Boundary binary options.
Underlying Instruments Available for Binary Options
Forex pairs, cryptocurrencies, and the commodities gold and silver are available as underlying assets for binary options on this platform. Binary options are not offered for indices or stocks, which is a drawback for many traders.
Forex Pairs
This is a large section on the platform and it includes over two dozen forex pairs, including majors like EUR/USD, GBP/USD, and USD/JPY,
Commodities
The commodity section is limited to precious metals, specifically gold and silver. No non-precious metals are available, no other hard commodities (e.g. energies) and no soft commodities.
Cryptocurrencies
A selection of cryptocurrencies is available, each traded against the USD.
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Binance Coin (BNB)
- Dash (DSH)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Monero (XMR)
- Zcash (ZEC)
Account Tiers
GC Options has a tiered account system with increasing benefits for larger deposits. Higher-tier accounts offer features such as personal account managers, improved payouts, and faster withdrawals. Bonuses usually come with restrictive turnover requirements, which can trap your funds until unrealistic trading volumes are achieved. Such conditions are not unique to GC Options, they are actually one of the most common complaints across the whole retail binary options industry.
Compared to many other brokers, GC Options do not require very large deposits to reach the higher tiers.
Silver Account
- Minimum Deposit: $10
- Access: WebTrader Classic
- Examples of features: Free trading education and free market analysis.
Gold Account
- Minimum Deposit: $100
- Access: WebTrader Classic, WebTrader Pro, MT4 platform
- Examples of features: Trading signals
VIP Account
- Minimum Deposit: $300
- Access: WebTrader Classic, WebTrader Pro, MT4 platform
- Examples of features: Personal analyst, expert Advisor (EA) support (for algorithmic trading), 10% cashback/refund on unsuccessful trades (loss recovery), certain “risk free” trades (subject to heavy terms and conditions).
Some of the benefits are not relevant for traders that focus solely on binary options.
Regulation and Reputation
GC Options has developed a mixed-to-negative reputation among traders. While some users note the simplicity of the platform and variety of assets, there are also complaints regarding withdrawal issues, aggressive marketing, and a lack of transparency. The absence of top-tier regulation place the broker in the high-risk category. Without independent oversight from a powerful financial authority, there are no safeguards around client fund safety, dispute resolution, or fair trade execution. Traders have little recourse if withdrawals are blocked or if prices are manipulated on the proprietary platform.
GC Option is a part of the Grand Capital group, where some of the oldest branches have been active online since 2006. This long history in the online brokerage business gives Grand Capital group a level of trust among traders that is typically not seen when a broker just opened its virtual doors last year.
Grand Capital Ltd is based in Saint Vincent and the Grenadines (SVG), an island nation in the Caribbean. This jurisdiction is not known to enforce strict trader protection. Another member of the same company group is the Grand Capital Ltd registered in the Seychelles, an island nation in the western Indian Ocean.
The main brokerage branch within the Grand Capital group is the Grand Capital platform; GC Option is a much smaller platform devoted chiefly to binary options. There is also the GC Invest branch; a copy trading service.
Even though Grand Capital is registered in tropical island nations, the company group has strong ties to Russia, and these ties may entail additional counterparty risk, especially as international sanctions against Russia are tightening due to the war in Ukraine. While registered offshore, the company group is connected to Russia in terms of leadership, operations, and public positioning. Grand Capital has strong ties to individuals based in St. Petersburg, Russia, including Alexandr Kirillov, Nikolai Lukovinov, Margarita Feigina, and Sergey Kozlovsky.
License
GC Option is not regulated by any of the top-tier governmental financial authorities, and it does not hold any financial services license from SVG or the Seychelles.
The broker is a member of the International Financial Commission (FinaCom), but while this name might sound impressive, it is not a government-level commission. It is simply a private company that provides some conflict mediation services for brokers who elect to become members. FinaCom verdicts are not legally binding. FinaCom is fficially based in Hong Kong, but it has strong historical and operational ties to Russia, and many of FinaCom’s founders, executives, and partners are Russian-speaking and have backgrounds tied to the Russian forex and binary options industry. A large portion of FinaCom’s broker members are offshore or unregulated brokers with roots in Russia or other former Soviet republics.
Deposits and Withdrawals
The minimum deposit and withdrawal is normally only $10, making GC Option accessible to small-scale traders, and traders who like to test a new platform with a small first deposit before committing more funds.
Transaction options include credit and debit cards, bank transfers, and cryptocurrency. Deposits are processed quickly, but withdrawals are where most issues arise. Some traders report long delays, excessive document requests, or outright blocked withdrawals.
Examples of accepted cards are Visa, Mastercard, and Maestro.
The list of accepted e-wallets includes names such as Perfect Money, FasaPay, AstroPay, PayTrust, GrowPay, PayRedeem (availability may vary by region).
At the time of writing, cryptocurrency transfers can be made using Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). For USDT, both ERC-20 and TRC-20 formats are supported.
Wire transfers are accepted, but can take several business days to process and clear.
Customer Support
Customer support is available via live chat, email, and phone. Initial responses are typically fast, but reports indicate that more complex issues tied to withdrawals can be left unresolved or receive vague, unhelpful answers. This is not unique to GC Option, it is a common complaint regarding retail binary options platforms.
The live chat support is open 24/7. You find it on the GC Option website. The average wait time is just 2 minutes.
Phone support is available Monday through Friday, from 6 am to 6 pm. (This is known as 12/5 support, and is common in the binary options field.) The phone number is +1 646 844 7187.
The email address is support@grandcapital.net. Please note that the ending is .net and not .com.
Why Are Traders Choosing GC Options?
GC Option is chiefly used by retail traders who are looking for retail binary options brokers and are okay with using a broker that is not supervised by any of the top-tier financial authorities for trader protection.
Just like other binary options platforms, GC Options is popular among traders looking for short-term speculation opportunities rather than longer-term trading or investing. GC Options is built around binary options contracts with lifespans starting from 30 seconds. This appeals to speculators who enjoy fast-paced trading and quick outcomes rather than long-term strategies or portfolio building.
The web-based platform is stripped down and easy to use, making it approachable for new traders who want to test binary options without dealing with complex charting systems or professional-grade software.
The minimum deposit and withdrawal is just $10, making GC Options accessible for small-scale traders. You can deposit and withdraw fiat currency or cryptocurrency. The fact that cryptocurrency can be used is a big plus for many traders.
GC Option offers access to forex, commodities, indices, and cryptocurrencies, all through a single easy-to-use platform. This attracts traders who want to try different markets without opening multiple brokerage accounts. (Although, it should be noted that the GC Option selection is limited compared to the main Grand Capital trading platforms.)
In short, GC Options is picked by beginners who want to experiment with binary options, fast-paced speculators looking for a variety of assets, small-scale traders looking to deposit $10, and traders who want to use cryptocurrency for deposits and withdrawals.