6.9
  • 99Binary

  • 100%Bonus:
  • Options Payout: 78-93%
  • Rating: 6.9 / 10
Broker Name: 99Binary
Platform: PandaTS
Founded: 2013
Bonus: 100%
Return/Refund: 78-93%/0-10%
No. Of Assests: 83
Regulated:   No
Demo Account: Yes
Minimum Deposit: 200*
US Traders:   Not Accepted

99Binary Review

Editor’s Note – Why does 99Binary Suck in 50 Words?

This is not so much a reason why they suck but something to be aware of because it could easily turn into a bothering situation: the Bonus goes up to 100%. Yes, you just open an account and Presto! You have just doubled your money… instantly. So why do we consider this a drawback? Because such a high Bonus will limit your ability to withdraw, but don’t worry, all you have to do is not accept the bonus and things should be fine.

 

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Why 99Binary doesn’t Suck?

They have recently introduced a very simple and intuitive copy trading feature. More detail on that later in the review but what I can say so far is that with a few clicks all newbies can trade like the successful traders they are following. The platform is cleverly named 99 Copy Trading and it might just be one of the best in the industry.

 

 

99Binary Full Review – I Got 99 Problems but a Broker Ain’t One!

It’s good to see a fresh face on the Binary Options scene but more importantly, it’s good to see a brokerage which really tries to make a difference, not to serve you the same rehashed stuff. 99Binary is bringing binary trading to a whole new level by offering a very low deposit amount of just 99 bucks, very high returns of up to an amazing 91% and up to 10% refunds for unsuccessful trades. As you can see the trading conditions offered by 99Binary are very convenient and put the power of investing at everyone’s fingertips by allowing you to trade in just three simple steps Select asset – Choose direction – Choose amount – Trade. Well, that’s actually 4 steps but you get the picture – it’s simple and everybody can do it, even without any experience. And don’t worry about education because their team of professionals is always close by and willing to help if you run into some trouble. A lot of reading material is available and also video lessons which are nicely structured so that all newcomers can understand it.

 

As mentioned before, one of their best features is the 99 Copy Trading platform which is actually a simple window which shows you the latest successful trades of other clients and gives you the opportunity to profit almost immediately if you choose to copy those trades on your account. Recent closed trades of other users scroll through this window and by simply clicking “Copy”, an automatic trade will open and allow you to place the same trade on your account, thus maximizing profits while limiting risk. Of course, I fail to see the reason why my trade has increased chances of being successful just because another user recently closed a trade in the same direction and on the same asset, but don’t mind me. The feature is easy to use and probably great if you are looking for a quick trade.

 

The accounts offered by 99Binary are versatile and best suited for both seasoned veterans and new traders. The Starter account requires just a $99 deposit and comes with a 50% bonus while the PRO account starts at $499 but you will get a whopping 100% bonus. Their best account is the Premium which starts at $999, a full 100% bonus and access to Tailormade Tradion Strategies. Well, in another section of their website they have different requirements for each trading account but overall, 99Binary look like they are trying to satisfy the needs of traders by providing a simple yet professional trading environment; however, they are still too new on the market so they still have a lot to prove.

 

 

 Is 99Binary a Scam?

So far nothing indicates they are trying to scam people but I would like to see more transparency coming from their part. I had to look quite hard to find the name and address of the owning company and all I could find is that payment services are provided by Ninety Nine Research Assets Ltd which has a listed address at 788-790 FINCHLEY ROAD, London, NW11 7TJ. Curiously, the same postcode is shared by other 895 companies according to companiesintheuk.co.uk… nothing suspicious (?) but I guess it gets pretty crowded in there.

 

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 99Binary Complaints

While looking on the main internet forums, chat rooms and complaint-specialized websites, we couldn’t find any major issues with this broker and it seems they are really conducting a legit business. However, we recommend you make your own personal investigation before depositing.

 

99Binary Bonus

As stated on their homepage, the Bonus is 100% of the deposited sum, but such a high bonus will limit your ability to withdraw before you achieve a 30 times turnover for each $1 received. They also have limited time offers but you will have to check with one of their representatives to get details about the ongoing promotion if any.

 

99Binary Withdrawal

There are a lot of withdrawal options, including the usual wire transfer, Credit Cards and also e-wallets. Identification documents must be provided by the client and 5 to 7 days will pass until the amount will be available in the client’s account.

 

99Binary Extras

As mentioned before, we consider the 99 Copy Trading platform an extra but I don’t see how knowing that a trade of another user expired In the Money helps my trading become successful.

 

 

99Binary Ratings

User Friendly 14/20

The website doesn’t have major functionality issues but is offered in only 4 languages which we consider too few. The platform is functional and responsive and US customers are accepted.

 

Number of assets and expiry times 15/20

They offer 33 stocks, 15 currency pairs, 7 commodities and 28 indices, making the Asset List wide and with enough trading opportunities. The popular 60 seconds trading is available, as well as 5 minutes, 15 minutes, half an hour and end of day expiries. One touch and Range options are available as well.

 

Commissions, Support and Effective return 16/20

There are no fees or commissions for opening an account but banking fees will be paid: $8 for Credit Card withdrawal and $25 for wire transfers. Their support is pretty slow to respond but once they do, they are pretty polite and helpful. The effective return goes up as high as 91% for some assets but the most common we saw was 85% which is still pretty high. Refunds for OTM trades can go as high as 10%.

 

Deposit, Payment and Bonus 12/20

Minimum deposit amount is $99 according to 99Binary website and $199 according to the same website. Confused? Well that’s how I feel as well. Unfortunately live chat wasn’t around to clear up the fog. Withdrawals can be made through Credit Cards, wire transfers and e-wallets, just like deposits and usually take up to 5-7 business days. The Bonus is 100%, which is way too high if you plan on withdrawing anytime soon. The required turnover is 30 times the bonus.

 

Website Extras 12/20

The social trading platform we already mentioned is 99Binary’s extra but I don’t see its purpose because it shows past trades.

 

99binary Overall Ratings: 69/100

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