Who organized it? Binary options broker Ayrex, a brand by unregulated offshore company Advanced Binary Technologies Ltd registered in St. Kitts and Nevis. Ayrex offers trading in binaries on its proprietary trading platform with payout up to 85%.
Do have in mind that this is an offshore broker, and is not regulated by any authority. If you chose such a broker, your money is not safe.
Duration: Contest rounds conducted each hour (on Mondays, Wednesdays and Fridays) every week. Each round starts at 6 PM (EST) and lasts for 1 (one) hour.
End date: No
Who can take part?
All AYREX account holders (18 years of age). Contest registration and participation is free of charge. It does not require an initial deposit or fee.
What are the trading rules?
All participants start out with $1 000 account balance and are allowed to trade only in short-term options.
Please note that the amount of money in work must not exceed $500 at one time. Thus, if you've opened an option with $500 you cannot open another one until the previous one expires.
During the last 5 minutes of the contest a client cannot open trades with expiry time which exceeds the contest ending time. No more than 5 trades can be open at one time.
What about the awards?
$300 pool prize is distributed among 8 winners, the contest participant who is rated first gets the $100 award.
Is there a catch?
The prize amounts are transferred to real accounts of the winners and the broker says that the money can be withdrawn at any time and without limitations. However, in order to be able to withdraw the prize funds the contestant's account needs to be verified.
As we take a look at the rounds that already took place, usually the number of participants is between 300 and 400. The account balance of the leader in the Binary Blast contest list currently amounts to $6 477.