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Binary Brokerz Review - Is it scam or safe?

Binary Brokerz Review - Is binarybrokerz.com a good binary options broker or a scam?

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 Basic Information

 

Minimum deposit Min. bet size Payout % Bonus   Trading platform  Regulation
$250 $25  Up to 83% 35% - 100% TradeSoft  No

 

Binary Brokerz is a Cyprus-based binary options broker, offering trading in currencies, stocks, indices, and commodities on the TradeSoft platform.

 

Besides, their website is full with useful trading information, video tutorials on trading, strategies and a trading glossary. 

 

Trading Accounts

 

Clients of Binary Brokerz maщ choose from a number of account types, depending on how much money they are willing to invest upon sign-up: Basic, Bronze, Silver, Gold & Platinum.

 

Account type

Min. initial deposit

Welcome bonus

Free Auto-Chartist daily signals         

Basic

$250

-

-

Bronze

$500

35%

-

Silver

$1 000

50%

Gold

$5 000

75%

Platinum

$10 000

100%

 

Besides, there is an account created especially for Binary Options Muslim investors or those who follow the Islamic faith and wish to trade without interest charges.

 

The Company. Security of Funds

 

Founded in 2014, Binary Brokerz is a brand name of Europe Ridge Ltd., a Cyprus-based company, which is not regulated. 

 

Binary options brokers have increasingly bad reputation in Europe lately, as many of them, especially non-licensed ones, turn out to be scams. That is why we advise traders to choose among brokerages who are regulated by a reputable authority, and preferably those who are covered by some compensation scheme (CySEC-licensed ones).

 

Nonetheless, we discovered that this broker has earned fairly good reputation. There aren’t many complaints regarding the company, and the company’s support is trying to resolve issues.

 

Trading Conditions

 

Trading Options: High/Low, Quick Options, One Touch, Range High/Low,

Assets:  Currencies, Stocks, Indices, and Commodities

Expiry Times: daily, hourly, 15 minute, 60 second, weekly, monthly, end of the year

30 sec, 60 sec, 2min, 5min, 10 min, 30 min, 1 hr, 24h, 24 hr+

 

The Range trade type, also known as Boundary binary options, is similar to the classic Call/Put options. The main difference, however, is that this trade type features a set of boundaries that exist on either side of the market price, (either above or below). The Boundary tests the asset’s ability to either stay within this defined range, or to break outside of the boundaries of the range. 

 

Minimum Initial Deposit

The minimum initial deposit for clients of Binary Brokerz is $250, which is average. For instance, BinaryBook, a SVG-registered company, requires the same initial amount.

 

Minimum bet size

The minimum bet size with this broker is $25q which is not much, yet other brokers, such as CySEC-licensed HY Options, allow traders to place a trade with just $5. The lower the minimum bet size, the better the risk management.

 

Payout amount

Depending on the expiry times, payout percentage offered by this broker ranges from 64% to 83% on High/Low options for the EUR/USD pair, which is average for the industry. In comparison, BinaryBook offers return percentage up to 81%. Payout on One Touch option, on the other hand, reaches 100%.

 

Trading Platform

 

TraderSoft is a professional yet user-friendly binary options trading platform, which is web-based. Mobile Apps are also available.

 

 

The platform offers real-time advanced charts and indicators, allowing for ideal visual analysis and performance monitoring.

 

Besides, the it provides a social trading feature, Users can observe the trades of the successful binary options traders in real-time and replicate them or use them for their own trading strategies.

 

In addition, Binary Brokerz features excellent third-party (AutoChartist) trading signals, built directly into their TraderSoft platform. 

 

Welcome On-Deposit Bonus

Welcome bonus for account holders with $500 deposit is just 35% with Binary Brokerz, while other binary brokers offer 100% bonus upon sign up. For instance, Banc De Binary provides traders with deposits of $250 with 100% bonus.

 

Methods of Payment

 

There are several payment methods available to Binary Brokerz’ clients: credit/debit cards Bank Wire, and e-payment systems Skrill, Qiwi, WebMoney, iDEAL, giroPAY and Neteller.

 

Please, be advised that the minimum withdrawal amount is $100 and that withdrawals are processed within 3-5 business days.

 

Conclusion

 

Binary Brokerz is a Cypriot binary options broker, offering a variety of assets and trading options on the robust TraderSoft platform. Our main concern with this broker is that it is not licensed. To sum up the above, here are the advantages and drawbacks in relation to this broker:

 

Pros 

Cons

Advanced platform with social trading features

Not regulated

Competitive returns

Not very lucrative bonus system

Signals Trading available

 

                                                                                              

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Traders` reviews for Binary Brokerz

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