FinanceYards Review - Is it scam or safe?

FinanceYards Review - Is it scam or safe?
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Basic Information

Minimum deposit 

Min. bet size

Payout %

Bonus

Trading platform           

Regulation

$200

$5

Up to 87%

No

SpotOption

CySEC

 

FinanceYards is a newly-established binary options broker, offering trading wide range of assets on the popular Spot Option platform.

 

It also offers training in binary options trading and free educational materials and webinars on its website. Unlike most binary options brokers, however, this one does not provide bonuses to its clients.

 

Trading Accounts

 

FinanceYards offers its clients a choice of three basic account types, depending on the initial deposit: Micro, Premium, & VIP Gold. All account holders receive Financial News Report, and Premium and VIP clients are entitled to some extra services.

 

Account type

Min. initial deposit

Extras

Micro

$200

-

Premium

$500

Dedicated Account Manager

Market Data Report – Email

VIP Gold

$5 000

Dedicated Account Manager

Market Data Report – Email & SMS

Personalised Training

 

The Company. Security of Funds

 

Founded in 2016, FinanceYards offers trading in more than 200 financial assets across 20 international markets. The brand is owned by Spot Capital Markets Ltd., a company licensed by the Cyprus Securities and Exchange Commission (CySEC).

 

Cyprus has become an international focal point for the forex and binary options industry with its MiFID compliant regulatory framework that allows trans-European business activity.

 

CySEC applies certain rules and requirements to license holders and makes sure they are being observed. It requires Cyprus-based brokers to hold a minimum of €730 000 in order to prove their good financial standing. Moreover, all CySEC-regulated companies are members of the Investor Compensation Fund, which may cover an investment loss to a maximum of 20,000 EUR per person in the event that the broker becomes insolvent. Such compensation schemes serve as an additional guarantee to clients’ funds.  

 

Of course, regulated brokers are also required to keep client money in segregated accounts.

 

Trading Conditions

 

Trading Options: Call/Put, One touch, 60 seconds, Long Term, Ladder, Pairs

Assets:  Currencies, Stocks, Indices, and Commodities

Expiry Times: 60 seconds (Short term): 60s, 120s,180s, 300s

Binary: 10m, 20m, 2h, 4h, 8h, 12h

Long Term: 3d, 10d, end of month, one month

 

Minimum Initial Deposit

The minimum initial deposit for clients of FinanceYards is $200, which is average, yet other CySEC regulated brokers require less. HY Options, for instance, demands just $100 from its clients as a start.

 

Min bet size

The minimum bet size with this broker is just $5 (for 60 seconds options). The same minimum bet size is set by HY Options.

 

Payout amount

FinanceYards`s Return percentage varies from 60% to 87%, depending on the option type, asset and expiry time. Such percentage is average for the industry. For instance, Call/Put options on EUR/USD offer payout of 80%, while 71% return is offered on 60 seconds options for EUR/USD. In comparison, payout percentage offered by HY Options is up to 85%.

 


Trading Platform

 

FinanceYards is using the popular trading platform made by SpotOption. The platform is web-based and simple and easy to use. Mobile apps are also available with this broker.

 

The platform offers some useful functionalities, such as Double Up & Rollover.

 

When it’s close to expiry time of a binary option, the position is out-of-the-money, and the trader is convinced that the market will still move to his advantage, then he or she is able to delay the expiration time by activating the “Roll-Over” feature and modifying accordingly the time of expiry.

The specific binary option must be still open (and needs more than 3 seconds for closing time) and the initial invested amount will increase by 30%.

 

Be advised, that the Roll-Over option is only offered once per position and is not available for the last trade of the day

 

Double Up, on the other hand, gives you the opportunity to increase your investment and double your profits. If you are close to your expiry time, and you think that the direction you predicted is on a roll, you may use this feature.

 

In fact, by clicking on Double Up you create a new trade with the same conditions, for the current price of the asset.

 


Methods of Payment

 

There are several payment methods available to FinanceYards’ clients: Bank Wire, Credit/Debit cards and a number of popular e-payment systems like Skrill & Neteller.

 

Available currencies: EUR, USD, GBP.

 

Conclusion

 

FinanceYards is a binary options broker, offering a variety of assets and trading options on the SpotOption trading platform. To sum up the above, here are the advantages and drawbacks in relation to this broker:

 

Pros      Cons
CySEC regulation No bonuses available
Spot Option platform available No Signals trading
Wide range of trading options & assets    

                              

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