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Broker's details

8.7
  • BinaryBrokerZ

  • Bonus: up to 85%
  • Options Payout: 70-85%
  • Rating: 8.7 / 10
Broker Name: BinaryBrokerZ
Platform: TraderSoft
Founded: 2014
Bonus: up to 85%
Return/Refund: 75-85% / 0-15%
BinaryBrokerZ Overview
No. Of Assests: 100
Regulated:   No
Demo Account: Yes
Minimum Deposit: 250
US Traders:   Not Accepted
Read Users Reviews

BinaryBrokerZ Review

The company that owns and operates BinaryBrokerz.com is DSMG Ltd, incorporated and registered under the laws of St Vincent and the Grenadines, with registration number 1553 CTD 2015. Their registered office is located at The Financial Services Centre, Stoney Ground, Kingstown, Saint Vincent & the Grenadines VC0100 and their business address is located at Victory House 205, Archbishop Makarios Avenue, Limassol Cyprus.

 

Is BinaryBrokerZ a Scam?

BinaryBrokerz are fairly transparent, company address and phone numbers are all there. There aren’t many complaints regarding the company, and we can see the company’s support is trying to solve issues on 3rd site websites as well. All I can say at the moment is that BinaryBrokerZ is a broker that still has to prove itself. They are relatively new and so far, it looks like they are doing a good job distancing themselves from the scam brokers. They are currently not regulated but of course that doesn’t mean that they are scammers.

 

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Editor’s Note – Why BinaryBrokerZ Doesn’t Suck in 50 Words

The support was very helpful and ensured me that every new client will have access to a demo account with no time limit attached! It is always beneficiary when a broker cares about your education and lets you take your time to learn how the platform works and how to trade before get started.

 

Why Does BinaryBrokerZ Suck in 50 Words

I can’t really mention anything that sucks more than the fact that they are not yet regulated. But then again, they have only been around since 2014 and getting regulated takes time. On the bright side, their reputation is good so far!

 
 

Should I Open an Account with BinaryBrokerz?

Recently BinaryBrokerz have changed their platform provider and as a result now traders are able to use the TraderSoft platform. This company is relatively new for a platform provider (formally incorporated in 2013) but their staff have years of financial business and IT experience. This can be easily seen from the end product, which is the platform itself: all the usual features are present and functionality is top-notch. The trader has the possibility to choose different layouts, such as Classic (similar to most binary options platforms), Chart (a big chart is the star of the show) and Multi (several assets on screen, compact view and small charts). I can’t say that the new platform is definitely better than the old, but everything worked fine, trades were transmitted quickly and the needed information was easily available.

Update July 2016: With the recent change to TraderSoft, the social trading widget can now be viewed on all three types of layouts (Classic, Chart and Multi) but unfortunately it doesn’t work on either of them. On the right side of the platform you can see the social wall, with the time when another users entered a trade, the direction of the trade and the price; the users don’t have names but a tag formed of 12 numbers. Below all that information you have a link that says “Go to asset”. Well, that link doesn’t work and I don’t see another way of copying the trade. I have to mention that I was using the Demo version of their platform and this may be the cause for the mishap – after all we’re talking about a complicated feature (social trading) and I can understand why they don’t make it available for virtual money.

BinaryBrokerZ has differentiated itself from other binary options brokerages by offering a wide and unique array of features. The platform is full of trading tools but the most prolific is in our opinion the AutoChartist. We’ve written an in-depth review of this price action based prediction tool and we recommend you read it because it will help you get the most of this instrument.

Social Trading is available, to follow and copy the trades of the most successful binary options traders in real-time. Furthermore, BinaryBrokerZ offers trading signals to all of its traders, completely free of charge (although we strongly advice to choose a 3rd party signal service). But it is their stellar account services where BinaryBrokerZ really goes above and beyond to truly separate itself from its competitors. Their dedicated expert brokers are not only available to help you get started, but are also there to guide you through customized one-on-one training sessions to ensure that you are maximizing 100% of your profit potential.

 

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BinaryBrokerZ Complaints

Update July 2016: Now that Binary Brokers has been around longer, some complaints have surfaced but this is something almost normal for any company, no matter how big or small. The good thing is that representatives of the brokerage are communicating with traders and are addressing their complaints online, trying to solve the issues. This is a clear sign of a brokerage that cares for its customers and we commend them for it.

 

BinaryBrokerZ Bonuses

Bonuses are given in a range of 25% up to 150% and possibly even higher for VIP+ accounts. Once you received the bonus, you are required to generate a trading volume of 30 times every bonus dollar before the bonus and its profits are valid for withdrawals.

 

BinaryBrokerZ Withdrawals

Withdrawals are processed within 3 to 5 business days after you have fully verified your account with the required documents and given verbal confirmation to your broker. The available withdrawal methods are: Skrill, Wire Transfer, Credit Card and Neteller, iDeal, Webmoney, Qiwi.

 

BinaryBrokerZ Extras

Demo account is available without the need of depositing or even registering. You can simply head to the website and benefit from a truly free Demo account.

 

 

BinaryBrokerZ Ratings

User Friendliness 17/20

The platform itself is easy to use but the navigation has to be improved to be more user friendly and the education center must include a clear and deep explanation of the social trading feature and the platform in general. Free Demo accounts are available.

 

No. of Assets and Expiry time 17/20

25 currencies, 17 stocks, 7 commodities and 17 indices which makes a total of 66 assets.There are many different expiries to choose from, short term starts at 30s and goes up to 5 minutes.
For regular High/Low options, you can choose from 5 minute and add 5/10/15/20 minutes and so on up to several months.

Update July 2016: Their asset basket is now composed of 32 currency pairs, 48 stocks, 12 indices and 8 commodities. Overall we see a clear improvement in their asset index since they’ve changed platforms.

 

Commissions, Support and Effective Return 18/20

Only wire transfer withdrawals will be charged with 25$ – other withdrawal methods are free of charge. The support was very helpful and not pushy at all. The returns are in a range of 60 up to 85%. The refunds are in a range of 0 up to 40% but you can also sell back an option.

 

Deposit, Payment and Bonus 17/20

Minimum deposit is 250$ and you can deposit in 7 different currencies: CNY, RUB, GBP, JPY, AUD, USD and EUR. Bonuses go up all the way to 150% depending on the account type. The payments are processed within 3 days and are free of charge unless you choose wire transfer which costs 25$.

Update July 2016: The available currencies are now AUD, CAD, GBP, EUR and USD.

 

Website Extra’s 17/20

As mentioned above, the Free Demo account is the main extra of this brokerage and I have to say, it’s a very good feature that I wish were present on more platforms.

 

BinaryBrokerZ Overall Rating 86 + Process of Regulation (+1) = 87/100

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