While the BetOnline website offers a number of bonuses and promotions to its clients, most of these apply online to sports betting or casino gaming. There are, however, a couple of bonuses which apply to those seeking to trade in binary options. The trading software is entirely web based and is extremely simple when compared to traditional binary options broker platforms. This makes it ideal for the new or casual user. The customer contact centre is available 24 hours a day 7 days a week although there are limited contact options, and overall with a choice of around 80 assets, BOL Financial does fall a little short in this department.
BOL Financial is part of BetOnline – a long established poker and gaming website which has recently introduced binary options trading as part of its betting programme. While the primary focus of this operator appears to be casino and sports betting, binary options trading is a prominent sideline which can be accessed through an extremely easy to use web based platform. Open to traders from around the world including America, BOL Financial is a good choice for casual traders who are keen for an intuitive experience rather than struggling to get to grips with a confusing and complex trading interface.
BOL Financial offers something very different from other traditional binary options brokers. First established in 1991 as a online poker and gaming community, today this company offers the opportunity for traders to speculate on the financial markets by offering binary options trading. With their headquarters in Panama City, BOL Financial accepts traders from all over the world including the USA and is known to be a long-established and reliable choice.
The assets offered by BOL Financial include:
- FX – 20 currency pairs
- Commodities – 4
- Indices – 7
- Stocks – 51
Overall, there are only around 80 underlying assets to choose from with this binary options broker.
Bonuses & VIP programs
As BOL Financial is not quite the same as other more traditional binary options brokers their bonus system and VIP programmes are quite different. While the operator overall offers numerous promotions and bonus deals, very few of these apply specifically to binary options trading, but instead are principally related to sports betting and casino gaming. If you are a trader who is also interested in gaming or sports betting you will enjoy the broad spectrum of promotions available through this broker including Refer a Friend deals, a 50% welcome bonus, 25% lifetime bonus guarantee, Free Plays, Risk Free Bets and Match Bonuses.
BOL Financial’s trading interface is completely web based, and thus requires no downloads or installations, TudorTrade’s trading interface is 100% web based and requires no installations or downloads. Therefore, it can easily be accessed from internet enabled devices of all types from smartphones like iPhones and Android devices to tablets or PCs. There is, however, no downloadable app available through which the platform can conveniently be accessed while on the go, which is a disappointment when compared with many of its competitors.
Deposits and Withdrawals
BOL Financial requires a low minimum deposit to begin trading starting at just $20 depending on the method chosen, which is well within the reach of even a novice investor and makes binary options trading very accessible. Maximum deposit amounts vary between $600 up to an unlimited amount depending on which payment option is selected. There are numerous options available for making deposits and withdrawals including:
- Credit cards
- Debit cards
- WU Person to Person Money Transfer
- Bank wire transfer
- Book to Book
- Cashier cheque
- Money Orders
BOL Financial offers a fast deposit system with many types of payment clearing instantly for immediate use and same day payouts are also guaranteed. This broker is also keen to reassure its clients that their personal and financial information is 100% secure thanks to the state of art technology employed on its website.
BOL Financial’s customer support team are available to be contacted 24 hours a day, seven days a week, which is reassuring for clients who are experiencing a problem or who have a query that needs addressing. On the other hand, however, the range of contact methods are exceptionally limited. While most of this broker’s competitors offer such options as live chat or Skype, BOL Financial only offers a telephone helpline or a general email address which can be used by clients seeking assistance.
Extra Features and Resources
BOL Financial does not offer any additional resources or features that are specific to binary options traders, however one of the relevant extra features on this site including high payouts of up to 160 to 180% on wins which is significantly higher than the payouts offered on competitor broker sites. This operator also offers out of money refunds, allowing clients to decide on the size of refund they wish in direct proportion to the amount of potential payout. This allows clients to effectively control their own risk in a way that is not possible with traditional binary options brokers.
Overall, BOL Financial is an unusual choice for binary options trading, but it does hold some appeal, especially for novice investors who are looking for a user friendly way to get started with the financial markets. There are a number of drawbacks too however, especially for high value investors who are looking for strong VIP features.
- An exceptionally intuitive, simplistic trading platform that is ideal for beginners
- 100% online trading interface requiring no installations or downloads
- 24/7 support through email and telephone helplines
- A good range of deposit and withdrawal methods
- Fast withdrawals and deposits
- State of the art security systems to protect the financial and personal details of clients
- Higher payouts than those offered by many competitors
- Excellent client control of their own risk
- No mobile app for trading on the go
- Only around 80 assets to choose from
- No VIP level accounts or specific bonuses
- No educational resources
Is BOL Financial a good choice for novice investors?
If you are brand new to the financial markets you will be looking for a user friendly and intuitive trading interface. BOL Financial can provide this with its entirely web based platform that requires no downloads or installations but which is incredibly simple to get to grips with. As only a very low minimum deposit is required to get started, BOL Financial is also a good choice for beginners who want to limit their risk in their first few trades.
Can I control my risk effectively with this broker?
Unlike with many other binary options brokers, BOL Financial allows its clients to effectively manage their own level of risk by offering an adjustable payout percentage which directly relates to the level of out of money refund. By choosing a higher level of out of money refund, the client will reduce their level of payout but effectively control their risk.
What types of trades are offered by BOL Financial?
There are four different options types offered by this broker including High/Low, Touch/No Touch, Range and Turbo, offering plenty of choice for traders of all preferences.
Can I use e-Wallet methods to make a deposit with BOL Financial?
BOL Financial offers a broad spectrum of payment options to satisfy the needs of all different kinds of investors including some of the most popular e-Wallets. Skrill and Neteller are two of the options available for clients to choose from when depositing funds or withdrawing money from their trading account. There are also new cryptocurrency methods like Bitcoin to choose from as well as traditional choices like credit and debit cards and bank wire transfers.
How easy is it to open a BOL Financial account?
This broker has made it very easy to open a trading account with them quickly and easily online. By selecting the Click To Join button on the home page, you are taken straight to a basic information gathering form which allows you access to the site. Once you have received your confirmation email you can sign in with the information that you have been given and your account will be activated. You can then make a quick deposit and you will be ready to start trading in minutes.