Binary Online Broker Review

All clients who open a trading account with Binary Online can benefit from an impressive welcome bonus, and there is also a VIP trading account which offers extra perks and offers offered by this broker. Their advanced trading software is intuitive to use and offers a cutting edge trading environment while the customer support services available are of the highest quality and are available 24 hours a day. Binary Online also has one of the widest available selections of tradable assets with around 200 to choose from.

Intro

Although Binary Online is a relative newcomer to the financial markets, they have rapidly grown into a popular broker, offering their services to clients from more than 100 countries worldwide and having more than 200,000 registered users. By offering comprehensive educational resources, ensuring 24/7 customer support and by boasting 10 different trading tools for the benefit of its clients, Binary Online has plenty to offer, and as they also offer a range of different account types including Islamic accounts to cater for the requirements of Muslim traders, they can accommodate the needs of a wide range of investors.

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Company Information

Binary Online were established as recently as 2016 and are operated and owned by Zola Ltd with its base in Bulgaria. Although they are not a registered or licensed broker by any recognised authority, clients are expected to comply with the required compliance procedures in order to be effectively protected from cybercrime. All financial transactions are well protected by strong SSL encryption for complete peace of mind and all client funds are kept in segregated accounts to safeguard against any financial crisis.

Assets Available

Binary Online offers around 200 assets for traders to select from.

Their list of assets includes:

Commodities: 18

Currencies: 29

Stocks: 104

Indices: 42

Bonuses & VIP Programs

All clients who open a live trading account with Binary Online can benefit from a welcome deposit bonus. This varies depending on which level of account is opened. The basic level Take Off account offers a 25% bonus, while the Standard account offers a welcome bonus of 50%. The highest level Premium traders can receive a 75% bonus and also benefit from several other offers including 3 weeks of free trading signals, ten risk free trades and the services of a personal trading advisor. There is also an Elite trading account which offers several extra perks and advantageous trading conditions.

Mobile

As might be expected in these days of smartphones and tablets, increasing numbers of clients are keen to trade on the go and Binary Online have ensured that their site has been mobile optimised to facilitate investment on the move. The Binary Online trading interface is 100% web based and therefore no installations or software downloads are required, ensuring a speedy and seamless trading environment, however this is not all that this broker has to offer. The Binary Online mobile app has been developed to make accessing client accounts and executing trades from mobile devices a breeze. The app can be downloaded free of charge either from the iOS or Android Play Stores or from the broker’s own website.

Deposits and Withdrawals

Binary Online offers very few payment options by which clients can make a deposit or withdrawal. These include:

• Visa
• Mastercard
• Debit Card
• Bank wire transfer

Unfortunately, no e-Wallet methods are available.

Depositing funds into a Binary Online account is very simple through the website and accounts can be opened in any one of 3 currencies including:

• US Dollar
• Euro
• Pound Sterling

Once a base currency has been chosen, it is not possible to switch to a different one at a later date. Other local currencies are also accepted for the convenience of clients from around the world.

The minimum required deposit amount to trade is $250 or the equivalent in other currencies and deposits are generally processed quickly, although bank transfers can take up to 5 days to clear. The maximum amount which can be invested at any one time is $5000.

Withdrawals are quick and easy to action, and funds are generally received within 5 working days, although occasion up to 21 days are necessary to process the transaction. The minimum amount that can be withdrawn is $100 or the equivalent in other currencies and there is no maximum withdrawal amount. Some charges are levied on withdrawals, with a charge of $50 levied on bank transfers and a processing fee of $25 for card transactions. Credit card withdrawals are also subject to a $10 processing fee.

Customer Support

Binary Online’s excellent customer support team are available 24 hours a day, 7 days a week to offer support and advice. They can be contacted in a variety of ways including:

• Live Chat
• Email (2 email addresses are provided to contact the customer support and compliance teams directly
• Telephone helplines (2 telephone numbers are provided to contact the teams in Australia and the UK directly.)
• Web Form

There is also a helpful frequently asked questions section which offers simple responses to the most commonly posed queries.

The website is available in two languages, English and Turkish.

Extra Features and Resources

Binary Online have a range of impressive educational resources designed to cater for the needs of both beginners and those with more trading experience. There are tutorials and videos available on a range of subjects as well as helpful information about trading strategies. There are many other exclusive features offered by this broker including an up to date economic calendar and daily market updates to help investors to inform their trades. There are also trading signals on offer.

Verdict

There are many excellent benefits to choosing Binary Online as your preferred binary options broker, however there are one or two downsides also.

Pros

• Cutting edge trading software that is suitable for use by both experienced and novice traders
• 100% online trading interface requiring no installations or downloads
• Instant customer support via the live chat facility
• Choice of customer service contact methods including emails, live chat and telephone helplines
• Mobile app for Android and iOS devices allowing trading on the move
• Free educational resources
• Excellent choice of around 200 different assets
• 24/7 customer support
• Several account types to suit the needs of traders at all levels of experience
• Strong SSL encryption site wide
• Choice of base account currencies
• VIP accounts for high volume traders
• Trading signals
• Islamic accounts for Muslim investors

Cons

• No e-Wallet deposit or withdrawal options
• Not regulated or licensed by any recognised authority

FAQ

Is my money safe with Binary Online?

Some clients may be worried that Binary Online is not a regulated or licensed broker, however as all client funds are kept in segregated accounts and all clients are required to adhere to strict compliance procedures, they can rest assured that their money is in safe hands. The broker’s website is also well protected by SSL encryption technology so that clients can have peace of mind that they are well protected against cybercrime.

Is Binary Online’s customer service team easy to contact?

Binary Online know the importance of offering excellent customer support services for its clients, and to that end they offer a 24/7 customer support team who are always at hand to address any issues and answer any questions that may arise at any time. Binary Online also offer a number of ways in which their representatives can be contacted including telephone helplines, web form, email addresses and, of course, the convenient live chat facility which can be accessed from the home page and which offers virtually instant support.

Is it necessary to download any software to access the Binary Online interface?

Like most binary options brokers, Binary Online offers a trading interface that requires no software to be installed or downloaded, but instead operates a 100% web based platform. This allows clients to trade rapidly and to access their account from any device with an internet connect at any time and from anywhere in the world.

Which currencies can I use for trading with Binary Online?

When opening a live trading account with Binary Online you are given the choice of choosing from one of three base currencies: Pounds Sterling, Euros or US Dollars. Once you have made your choice, however, you are not permitted to switch to a different currency.

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