BinaryOnline Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this BinaryOnline Review.
BinaryOnline is a binary options broker, offering trading in currency pairs, commodities, indices, and cryptocurrencies on their in-house web platform. It operates without a broker license.
Otherwise, BinaryOnline’s website is rich in content and with nice design. There is also extensive educational section. All accounts, instruments and platform features are well-described.
Standard & Premium account holders get personal trading advisor and 2 – 3 weeks of free signals trading. The broker also offers swap-free (Islamic) services.
Founded in 2016, BinaryOnline claims to operate in over 100 countries and to have more than 200 000 registered users. According to the information on the broker’s website, the brand is owned and operated by Zola Ltd. – a company based in Bulgaria, which does not hold a brokerage license. Although operating without proper authorization is not uncommon in the binary options industry, we advise traders to choose their brokerage very carefully. There are many scams out there, targeting mostly unexperienced traders, and most of them are not regulated.
That is why you’d better choose a broker regulated in Cyprus, for example, where CySEC exercises certain supervision and control and where your money is protected by the Investor compensation fund up to $20 000 in case something goes wrong.
Trading Options: Call/Put, Long term, 60 seconds, Ladder, One Touch, Pairs, Builder, Limits, Tradereplica
Assets: Currencies, Stocks, Indices, Commodities, Cryptocurrencies
Expiry times: from 60 seconds (60 seconds) to 1 year (Long term)
Minimum Initial Deposit
The minimum initial deposit for clients of BinaryOnline is $250, which is a bit high for an unregulated broker. In comparison, in order to open an account with CySEC-regulated NenX, traders have to invest just EUR 10.
BinaryOnline’s payout amount for standard binary options is up to 81% on EUR/USD, while returns for 60 second options are up to 70%. Returns up to 81% are on the lower end of average. In comparison, NenX offers high payouts, reaching 92%.
BinaryOnline’s web trading platform has a standard interface and is easy to use. Mobile application is also available.
Apart from the standard trading options (such as Call/Put, Long term, 60 seconds, Ladder, One Touch, Pairs), there is Tradereplica option. This is a social trading feature, where successful traders are rated, and where other users can follow them and copy their trades.
In addition, BinaryOnline’s platform also has additional features to help traders make informed decisions. These include Trader choice, which allows you to get a glimpse of the direction trades have been placed by other traders, and Trendify, which enables users to effortlessly make use of the RSI, Moving Average and Boiling Bands.
Welcome bonus with this broker is up to 75% of the initial deposit, however, it is available to clients of BinaryOnline who deposit at least $10 000. Takeoff account holders get a welcome bonus of just 25% of their initial investment.
Methods of Payment
There are several payment methods available to BinaryOnline’ clients: wire transfer, and credit/debit card payments. The minimum withdrawal amount is $100.
BinaryOnline is a young binary options broker with rrather extensive product portfolio and nice website. However, it is not recommended, because it is not authorized to provide brokerage services. Besides, the payout amounts it offers are not the highest in the industry, while the einitial deposit it requires is not small.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
BinaryOnline Review Conclusion
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