Binary Brokerz Review – Is This Broker Reliable?
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The primary consideration for every trader should be to choose a regulated broker that has a good reputation in the industry. Therefore, as far as this Binary Brokerz review is concerned, we are dealing with an unregulated broker in the UK that has only been in the industry for just over a year. During this short amount of time, Binary Brokerz has been doing everything in their power to attract customers by offering several advantages over conventional binary options brokers. While they haven’t been able to set the markets on fire with their modern offerings, the company has managed to garner enough attention to invoke the interest of several accomplished traders in the industry.
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Why Should I Choose A Broker That Is Not Regulated?
Every knowledgeable binary options trader in the industry understands the importance of investing money with a regulated broker. During the initial days of binary options trading, a majority of traders lost their money due to scam brokers who indulged in fraudulent practices. Therefore, every online educational resource stresses the importance of choosing a regulated binary broker. However, not all unregulated brokers should be considered as a scam, as several companies offer genuine services to establish a foothold in the market while they strive to get regulated by a mainstream regulatory agency.
Binary Brokerz is located in the UK, which renders it that much-needed credibility, however, the broker is still in the early stages of being regulated. During that time, Binary Brokers offers an immensely attractive array of features that are designed to trump even the most accomplished binary options brokers.
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How Is Binary Brokerz Binary Options Broker Better Than The Rest?
Binary Brokerz has one of the highest payouts in the history of binary options trading. Traders can enjoy up to 92% payouts for winning trades, which is considered to be one of the highest numbers in the market. Even other non-regulated brokers cap the maximum payouts at 85% to 90%, which makes Binary Brokerz an attractive proposition for traders looking for maximum profits.
Binary Brokerz also uses the advanced Tradersoft platform as its trading engine, which is one of the latest and most advanced trading interfaces available in the market. A reliable trading platform allows traders to enjoy a seamless trading process with access to an exhaustive set of features and tools to perform the most comprehensive market analysis. Even the Binary Brokerz, mobile trading platform, is designed to pack a potent trading experience and is available for both Android as well as Apple devices. Binary Brokerz dedicates an excellent trading environment for both the Binary Brokerz mobile as well as desktop platforms.
Traders can start off with a minimum deposit of $250, and the minimum investment amount is $25. However, if traders want to experience a risk-free trading atmosphere, they can take advantage of the availability of a free demo account. The demo account has no restrictions unlike other binary brokers, and the trader can get familiar with the markets before depositing real money into a live account.
Binary Brokerz has an excellent customer support channel that addresses client concerns in an incredibly swift manner. There have been complaints about the company in the past, but the customer service wing of the company is dedicated to ensuring that all genuine consumer complaints efficiently dealth with according to the clients’ preferences. An excellent customer support department is essential for enjoying consistent success in the markets, and Binary Brokerz seems to have gotten things right with their client support strategies.
Areas That Need Improvement
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Binary Brokerz is a new company, and several aspects need improvement. For instance, Binary Brokerz bonus is limited to 75% of the deposit amount for a Platinum account that requires a minimum deposit of $10,000. Of course, traders can enjoy a 150% bonus for the VIP account, but that requires a higher deposit of $25,000 or more. Traders are apprehensive about depositing significant amounts of money at unregulated brokers; therefore, Binary Brokerz should consider bringing down the deposit amount for the higher account types. The lower accounts only qualify for deposit bonuses ranging from 25% to 75%, which is lower as per industry standards.
Regulation is also another key aspect of binary options trading, and being unregulated for a long time will deter potential clients from trading consistently at Binary Brokerz. Therefore, the broker should pay more attention towards being regulated shortly.
Binary Brokerz should also incorporate more financial assets into their product portfolio as there are only around 60 assets currently on offer. The lower number of trading instruments offers severely limited options for traders who are looking for the maximum number of assets to diversify their investments.
What Are The Payment Options Available With Binary Brokerz?
Clients can deposit and withdraw funds using credit cards, online payment processors, or through wire transfer. All deposits are made instantly, and traders are required to verify their trading accounts before they are granted access to a live account. Withdrawals, on the other hand, can take up to 5 days to be processed, and are associated with commissions and fees according to the scale of the withdrawal. There have been instances where clients have faced large delays in withdrawals, but the customer service department is dedicated to ensuring that all withdrawals requests are addressed to in a proper manner.
Does Binary Brokerz Support Newbie Traders?
Binary Brokerz offers several educational materials such as tutorials, personal account manager, market reviews, and daily trading signals, but these materials are reserved for the high-end account holders. Primary account holders will only receive a free eBook and other video tutorials that can provide some simple information about the markets. Higher account holders also qualify for 5% to 20% risk-free trades, which allow traders to take risks in the market without actually losing a significant portion of their capital.
Is An Account At Binary Brokerz Worth It?
Binary Brokerz is not a regulated company, which can have its distinct disadvantages. Professional traders with substantial capital usually prefer regulated brokers that have an excellent reputation; hence, these traders might not open an account at Binary Brokerz. However, Binary Brokerz is ideal for smaller traders who would like to take advantage of higher payouts and an excellent trading platform that are usually hard to find in the binary options trading industry.