Binary Online Review

Summary

For bonuses at BinaryOnline, we rated it at 75/100 as the maximum bonus level is just 75%. As for the trading software, it scored a high score of 90/100 due to the many trading features that can be found on the platform. We rated customer support a modest score of 65/100 as the broker does not provide any telephone support.  Options choice scored a high score of 90/100 as the broker has provided its traders with 10 different options choices.

 

Binary Online Intro

BinaryOnline is a newly established broker that began operations in 2016. Since then, the brokerage firm has been expanding rapidly. Today, the broker has achieved a monthly trading volume of close to 8 million trades. Boasting of having more than 200,000 registered users, BinaryOnline is currently serving clients from more than 100 different countries. It should be noted that this growth has come at a time when the internet is swarming with unscrupulous brokers. In other words, the broker has managed to achieve a milestone despite the hurdles that the industry is facing. In this review, we will take a closer look at what makes BinaryOnline different from all the other binary options brokers in the industry.

 

Company information

Based in Bulgaria, the BinaryOnline trading brand is owned by a holding company called Zola Ltd. Their office is located at #14 Tsar Osvoboditel Blvd. 1000 Sofia Bulgaria. The brokerage firm is not regulated by any internationally recognized regulatory body. Nevertheless, it should be noted that being unregulated doesn’t make it a binary options broker a scam. This is due to the fact that most binary options brokers in the industry are unregulated and that the regulatory framework for regulating binary options trading is virtually nonexistent in most countries.

 

Trading Platform

The trading platform that BinaryOnline has adopted is the white labelled SpotOption powered platform. Featuring the second generation platform, the platform is a marked improvement over the first platform launched by SpotOption in late 2008. Today, this platform is widely adopted by binary options brokers from all over the world due to its reliability and strong technical support.

The platform is also well received by traders within the binary options trading community, as it is packed with a wide array of trading tools that are able to enhance their trading abilities. For example, the SpotOption Gen 2 trading platform is currently the only binary trading platform that comes with a “Strategy Advisor”. This tool uses the Bollinger Bands, RSI and Moving Average to identify trends in the price movements in the market and give traders an indication of which way prices will move. Hence, this will enable them to make better trading decisions.

 

Mobile

Today, smartphone ownership has reached a population in excess of 6 billion users. Given the high penetration rate of smartphone ownership, it is natural to find many of the online traders today own a smartphone and wish to trade the financial markets directly from their smartphones. To cater to this large segment of traders, BinaryOnline has also provided a mobile trading app which is available for download free of charge from Google PlayStore. The mobile trading app will enable smartphone users to check their account status as well as to make trades directly from their smartphones.

 

Available Assets

As for trading assets, coverage of the markets include assets from the Forex market, commodities market, indices market and stock markets. There are over 200 different instruments to trade with. The table below shows the full list of underlying assets that are available for trading at BinaryOnline.

 

Commodities: BRENT CRUDE OIL-APR16, COCOA, COFFEE, COPPER, CORN, COTTON-MAY16, GOLD, GOLD/EUR, NGAS F-APR16, OIL (LIGHT SWEET CRUDE), ORANGES, PALLADIUM, PLATINUM, RICE-MAR16, SILVER, SOYBEAN-MAR16, SUGAR, WHEAT.

Currencies: BITCOIN/ETHEREUM, BITCOIN/EUR, BITCOIN/LITECOIN, BITCOIN/USD, DASH, ETHEREUM/LITECOIN, ETHEREUM/USD, LITECOIN/USD, BitCOIN(Bitstamp), AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/NZD, EUR/RUB, EUR/USD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/RUB, GBP/USD, NZD/JPY, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/RUB, USD/SGD, USD/TRY, USD/ZAR.

Equities: 3M, ADIDAS, AIG, ALIBABA, ALLIANZ SE, ALPHABET (Google), AMAZON, ANZ BANK, APPLE (US), AXIS BANK, BAE SYSTEMS (LONDON), BAIDU, BANCO SANTANDER, BANK OF AMERICA, BARCLAYS, BASF AG, BAYER AG, BHP-AU, BLACKBERRY, BMW, BOEING, BP (BRITISH PETROLEUM), British American T, CATERPILLAR, CITI (US), CK HUTCHISON, COCA COLA (US), DAIMLER AG, DELTA AIR LINES, DEUTSCHE BANK, DISNEY, E.ON AG, EBAY, EXXON MOBIL, ACEBOOK, FedEX, FERRARI, GAZPROM (RUSSIA), GENERAL ELECTRIC, GENERAL MOTORS, GoDaddy, GOLDMAN SACHS, GROUPON, HSBC HOLDINGS (LONDON), HSBC-HK, IBM, INTEL, JOHNSON & JOHNSON, JP MORGAN CHASE, LAS VEGAS SANDS, LINKEDIN, LLOYDS Bank, LOCKHEED MARTIN, LUFTHANSA, LUKOIL (RUSSIA), MASTERCARD, MAZDA MOTOR, McDONALD’S, METRO AG, MICRON, MICROSOFT (US), NETFLIX, NIKE (US), NISSAN MOTOR, PAYPAL, PEPSICO, PETROBRAS, PFIZER, PROCTER & GAMBLE, REUTERS (US THOMSON REUTERS), Rio Tinto, RIO-AU, ROLLS ROYCE (LONDON), ROSNEFT’, S.BANK INDIA, SALESFORCE.COM, SANDISK, SAP, SBERBANK (RUSSIA), SIEMENS AG, SINA, SONY, STARBUCKS, SUMITOMO MITSUI, TATA MOTORS (INDIA), TATA STEEL, TELEFONICA, TENCENT HOLDINGS, TESCO, TESLA MOTORS, TEVA .TA, TOSHIBA CORP, TOYOTA (US), TURKCELL (TURKEY), UNICREDIT, Vodafone, VOLKSWAGEN, WAL-MART, WEIBO, WYNN RESORTS, YAHOO, YANDEX N.V.

Pairs: ALPHABET VS BAIDU, ALPHABET vs FACEBOOK, AMAZON VS EBAY, AMAZON VS NETFLIX, APPLE VS ALPHABET, APPLE VS AMAZON, BARCLAYS VS LLOYDS BANK, BMW VS DAIMLER, CITIGROUP VS AIG, CITIGROUP VS JP MORGAN CHASE, DAX F VS FTSE F, FACEBOOK VS TWITTER, GOLD VS OIL, GOLD VS SILVER, LINKEDIN VS FACEBOOK, LINKEDIN VS TWITTER, MAZDA VS TOSHIBA, NIKKEI 225 VS TOSHIBA, NIKKEI VS SUMITOMO MITSUI, RIO-AU VS BHP-AU, S&P 500 F VS NASDAQ F, SIEMENS VS E.ON, VOLKSWAGEN VS DAIMLER.

Indices: ASX, ATHENS, BOMBAY SE, CSI 300, DAX (GERMANY), DOLLAR INDEX F., DOW (US), DUBAI (DUBAI FINANCIAL MARKET GENERAL INDEX), FAZ-SHORT BANKS, FTSE 100 (UK), HANG SENG (HONG KONG), IBEX, IBEX, ISE 30 (ISTANBUL STOCK EXCHANGE), KL FUTURE, KOSPI, KUWAIT (KUWAIT GENERAL INDEX), MICEX 10 (MOSCOW INTERBANK EXCHANGE), MSM 30 (OMAN), NASDAQ (US), NIFTY FUTURE, NIKKEI225 (JPN), RTS (RUSSIAN TRADING SYSTEM), RUSSELL 2000, S&P 500 (US), SHANGHAI COMPOSITE, SMI FUTURE, SSE180 (SHANGHAI STOCK EXCHANGE), STRAITS TIMES, TADAWUL (SAUDI STOCK EXCHANGE), TAIEX, TEL AVIV 25, TOPIX,  TSX 60, U.S 10 YEAR NOTE, U.S 30 YEAR NOTE, BOVESPA F-APR16, ASX F-JUN16, DAX F-JUN16, DOW F-JUN16, FTSE MIB F-JUN16, GERMANY 10YR-JUN16.

 

Bonuses, Trading Accounts & VIP programs

As for the trading accounts at BinaryOnline, the broker has provided 3 types of trading accounts:

 

“Takeoff” Account

• Minimum deposit of $250
• Daily Market Updates
• Email Alerts
• Regular Webinars

 

Standard Account

• Minimum deposit of $2500
• 2 Weeks Trading Signals
• Daily Market Updates
• Email Alerts
• Personal Advisor
• Regular Webinars

 

Premium Account

• Minimum deposit of $10,000
• 3 Weeks Trading Signals
• Daily Market Updates
• Email Alerts
• Personal Advisor
• Regular Webinars

 

For bonuses, BinaryOnline offer “Welcome bonus” to all new trading accounts. The level of bonuses awarded depends on the type of trading account starting with the “Takeoff” account at 25%, 50% for the standard account and 75% for the premium account.

 

Fees, Payouts and Trading Features

For binary options trading, there are no additional fees involved except for the premium that traders pay for the option contracts. The returns also vary but the maximum return on a standard binary options trade is 85%. As for the trade types, traders at BinaryOnline now can trade in 10 different types of option contracts namely “Classic Binaries”, “Pairs”, “60 Seconds”, “Long Term”, “One Touch”, “Ladder”, “FX/CFD”, “Builder”, “TradeReplica” and “Limits”.

 

Deposits and Withdrawals

Funding and withdrawals at BinaryOnline are supported through credit cards or bank wire transfer. All major credit cards such as VISA and MasterCard are supported by the broker. Traders are recommended to use their credit cards when depositing funds into their trading accounts, as this is the fastest way to them to transfer their trading funds. Funds deposited are posted to the trading account balance within minutes of acceptance. For withdrawals, there is a minimum amount of $100 which traders have to withdraw before their withdrawal requests are processed.

 

Customer Support

The support team at BinaryOnline are available on a 24/7 basis to provide guidance, information and assistance to traders who needs help. There are 2 ways of contacting customer support at BinaryOnline that is through the Web Contact Form on their website or through Live Chat.

 

Extra Features and Resources

To enhance their traders trading abilities, BinaryOnline has furnished them with a fully equipped “Success Center”. Through the Success Center, traders will be able to access trading education resources such as:

 

• 50+ Video Tutorials
• Dedicated Blog
• Ebooks
• Weekly Webinars

 

Verdict

To surmise, the services offered by BinaryOnline are on par with what most leading binary options brokers are offering. However, we were quite impressed with the quality of the Success Center as this broker has only provided a wide coverage of topics but with depth as well. In addition, the bonuses which they offer are a great help, especially to those with limited investment capital.

 

Pros

• Comprehensive Trader’s Education
• Extensive Coverage of markets
• Intuitive Trading Platform
• Wide Range of Option types

Cons

• No Telephone Support
• Unregulated Broker

 

 

FAQ

Is BinaryOnline Regulated?

No, BinaryOnline is not a regulated broker. However, the broker’s operations are based on the industry best practices. Funds are kept in segregated accounts and traders have to comply with anti money laundering measures required by international legislations.

 

Where is BinaryOnline based at?

BinaryOnline is based in Eastern Europe in Bulgaria. Their office is located at #14 Tsar Osvoboditel Blvd. 1000 Sofia.

 

What is the minimum deposit requirement at BinaryOnline?

The minimum deposit requirement at BinaryOnline is $100 or equivalent value in the currency of the trading account.

 

Is BinaryOnline a legitimate broker?

Yes, BinaryOnline is a legitimate broker. The brokerage firm has been operating since 2016.

 

How much can I earn on my investments?

Returns on investment vary according to the type of options traded. For classic binaries, the maximum return which you can expect on your investment is 85%.

 

 

TRADE AT BINARY ONLINE