Oboxee is operated by Yellow Door Markets Limited, a company with a listed address at: 3rd floor, C&H Tower Corner of Great marlborough and Great George Streets, Roseau 00152, Commonwealth of Dominica. As far as we know the company is not regulated but hey, at least they are transparent about their name and address. I know this shouldn’t be a big deal but nowadays some brokers guard their name and address like it’s some sort of ancient secret, so it’s good that you don’t have to be Sherlock just to know who you are dealing with.
Update February 2017: The website cannot be accessed and all information points towards an obvious conclusion: this brokerage is closed. They don’t operate anymore and don’t accept new clients.
Is Oboxee a Scam?
They are pretty new to the scene and it’s too soon for a scam no scam verdict. What we know so far is they are a transparent company but not regulated. The lack of regulation doesn’t mean they are a scam and considering that the minimum deposit is just $10, I don’t think they will go through the hassle of scamming people for that sum, on the other hand not being regulated gives them the ability to provide interesting promotions such as the $35 no deposit bonus. I especially like their commitment to leave traders alone and not bother them with pesky phone calls. That’s a great plus as we all know just how much a sales call could be harassing. So far there are no scam reports regarding Oboxee.
Bottom line, all I can say that I like their concept is cool as long they follow it, they are new and everything comes with it, they are unregulated but again, this doesn’t necessarily mean they are not legit, but it means they can give out better offers than regulated brokers. Only time will tell. So, very low minimum deposit that comes with advanced technology; they are worth a check out.
Update February 2017: Oboxee is now closed! Does that mean they were a scam? Not necessarily, but either way, they are closed and their website cannot be accessed anymore. Their web traffic dropped from 240K hits in August 2016 to 25K hits in October same year. In January 2017 their traffic was almost inexistent, which is another clear indicator that Oboxee is CLOSED!
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Editors Note – Why Oboxee Doesn’t Duck in 50 Words
Finally brokers are breaking out of the old pattern of websites. The visual style is starting to change, to become more appealing and Oboxee is right in the front of the pack that leads the change. In other words: great looking website! A nice website is… nice but not very important to me; what is more important is their promise to not call and annoy their customers, it even shows at their registration, they don’t ask for a phone number!
Why does Oboxee Suck In 50 Words
At the moment it seems like they have only one language (English) which kind of sucks however some brokers start like this and add more languages as they go so it’s normal. In any case learning a few words in English is not that hard and after all, if you know how to read charts, you know where price is likely to go. Once you know where price is going, you only need to learn 4 words: Call, Put, Expiry and Trade. Not so hard!
Should I Open an Account with Oboxee?
Update February 2017: Even if you want to open an account with Oboxee, you are not able to do that anymore because they have closed down shop. They only had a brief “existence” on the binary options scene and actually seemed like they had potential but clearly it wasn’t so. We don’t know the reason why they stopped operating but complaints were starting to pile up against them and this could have contributed to some extent. Either way, Oboxee is CLOSED so please read everything below in past tense.
The platform used by Oboxee is provided by O-SYSTEMS and although this is not as widely used as SpotOption, I consider it better in some ways. First of all, charts look like… charts and they are the main focus of the platform. There’s no way of adding technical indicators that I know of, but at least you get candlesticks, which is way better than a jagged line chart. Don’t get me wrong, I don’t consider this the best platform out there, but it has some perks (Limit Orders, candlesticks, etc.) which make it interesting. But perhaps the most interesting thing about Oboxee is their commitment to leave you alone and not bother you with tens of phone calls or “just today, just for you” offers. This is definitely an advantage over other brokers because I believe we are all sick and tired of salesmen calling us and asking to deposit more or to open an account if we don’t have one already.
So far Oboxee looks like a new-school broker, with a visual identity that stands out from the crowd, but a more interesting thing is the way they choose to do business: they will offer you a very low starting account of just $50. With their no deposit of $35 promotion your account will be limited on assets index and only 60 second Binary Options are available. If you wish to unlock all assets and longer expiry times, you will have to make a deposit. The good news is that traders have a lot of account options, starting with the Easy that requires $50 minimum deposit and finishing with the Master Account which requires $5,000 minimum deposit (in between you can opt for accounts of $250, $500 or even $1000). I think that this way of categorizing accounts is good if you are a fan of 60 sec trading but if you’re not, you’ll need to open a real account to get a wider array of options. Anyway, I’ll take this business model any day instead of endless calls and “Only Now” offers.
It’s pretty funny we came down to this, but finally a broker that stands up and say – we don’t harass you! they also have a great platform, free demo, and low minimum. this could be a great option for newbie looking to get into the binary options world without distractions, a little help from bots school and CT community and you’ll be just fine. Only time will tell if it’s just another marketing game, or is it a real non-harassing broker. We’re optimistic, this got to be an era of positive change in the binary options industry.
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Absolutely no complaints have surfaced or at least we weren’t able to find any when searching the mainstream forums and websites. We will keep an eye on this brokerage and update the review as necessary.
Oboxee $35 Bonus
Only unregulated brokers can offer this kind of promotions which in my opinion make it more fun to start, especially when going through a new trading platform, spicing things up! The Bonus is not available for withdrawal till you reach $250 in profit! and those $35 will be yours to withdraw. They made it more interesting as when you reach $100 in profit the system will unlock all assets, giving a nice variety of options to trade on, on 150 the systems will unlock more feature like social copy trading, limit order and so on.
The Bonus for the lowest account is 100% and grows until it reaches 130% for the top tier accounts (Expert and Master).
Withdrawals take 3 to 5 days to process by Oboxee and the time needed for the funds to reach you is up to your bank or credit card company. Deposits and withdrawals must be made via the same methods and as stated above.
They offer a Social trading feature but the more important feature in my opinion, is the use of candlesticks and Limit Orders. As an Extra I can mention their Demo or rather the way to get it Free (no deposit required): on their homepage you will see a “Get Real $35”offer. Click on it and then close the small window that pops up. Once you close this window, another one will come up, offering you a Free $1,000 Demo account. You’re welcome ;)
User Friendly 17/20
Oboxee trading platform has good functionality and is easy to use. A Demo is available using the little “hack” I mentioned in the Extra section above.
You can see where everything is at, it’s not complex and the design is very modern which makes the trading experience much nicer.
You can take the guided tour before start trading, however I found that everything is exactly where it should so it’s like driving a car, the main elements are always in place.
Number of Assets and Expiry Times 18/20
With Oboxee you have the opportunity to trade 24 currency pairs, 47 worldwide stocks, 12 commodities and 13 indices but at the moment it is not clear how many of them are available to trade with the lowest account. The expiry times range from 30 seconds to 5 minutes, 1 to 8 hours and end of day and even end of year, with all the normal time frames in between.
Commissions, Support and Effective Return 17/20
As usual, there are no fees to register and to open an account. The bank or credit card company will charge their respective fees but Oboxee does not specify any amounts. The payouts are huge and some “out of the money” trades can have refunds up to 25%.
Deposit, Payment and Bonus 17/20
The smallest account requires is 10 USD deposit, which is very low considering that the average for the industry is 200 – 250 USD. Deposits can be made through a wide variety of credit cards (Visa, MasterCard, Visa Debit, Visa Electron, MasterCard Debit, American Express, China Union Pay, Jcb, etc.) and e-wallets (Webmoney, MoneyBookers, Cashu, Ukash, Ideal, Sporopay, Nordea Nettbank, LaCaixa Linea Abierta to name just a few) but also through wire transfers.
Withdrawal takes between 5 and 7 business days to process but additional time will pass until your payment processor conducts the actual transaction. The bonus is 100% for the lowest account and reaches 130% for the higher tier accounts.
Their terms for withdrawing the $35 no deposit bonus are simple and based on a normal concept of wagering the amount, in this case you will need to reach $245 in profit: $35 x 7 = $245. To make things more exciting they unlock all assets once you reach $100 in profit, this actually helps you collect that bonus!
Website Extras 16/20
The candlestick charts are good… but Japanese traders use them since the 18th century so I cannot be that impressed. Anyway, considering that other binary options brokers don’t offer this type of chart, I have to list it as an Extra. Other than that, I can mention the Limit Order and the Social trading feature.
Oboxee Overall Ratings: 85/100
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