Founded in 2013 and based in Sofia, Bulgaria, BinaryOnline is one of the leading brokers in the binary options industry. This broker gained popularity in a short span of time by providing an excellent customer service and a user-friendly trading platform, although being new on the market. With multiple experts in the trading field, BinaryOnline is no less in terms of quality and services offered.
BinaryOnline abide by strict rules and regulations in accordance with KYC policies and Anti-Money Laundering [AML] policy to help protect traders’ funds. This is done in an attempt to protect all personal information from any frauds. We also recommend clients to use their own Credit/Debit cards to fund their accounts to avoid any issues later.
BinaryOnline customers are required to submit certain compliance procedures after funding their trading account so that their accounts are fully verified and they can thus proceed with their dealings. Know Your Customer [KYC] documents consist of a proof of identity, a proof of address and a proof of payment. If you do not provide these, you would not be able to trade and also if you requested for a withdrawal, your request will not be accepted.
BinaryOnline offers clients with a Welcome Bonus upon registration. Please note that according to the bonus policy set by the company, clients would be eligible to bonuses only if they provide all your correct details, follow all procedures and are fully compliant. Bonuses provided are added in the trader’s tradeable fund and thus he can use this bonus only for trading purposes.
However, traders should be cautioned against accepting any bonuses, as according to its terms and conditions, a broker can in fact be used to hold one’s initial deposit hostage, further down the line. Learn more about the conflict of interests inherent in binary options.
BinaryOnline Trading Platform
BinaryOnline makes use of the latest technologies to provide and the main trading platform that is currently powering BinaryOnline is Panda TS. This platform is user-friendly and it is quite simple to use with a number of handy trading tools incorporated within the website. More and more brokers seem to use Panda TS platform lately as it allows traders to access a myriad of assets available on the market.
The handiest, simplest and most useful trading tool which is built into the BinaryOnline platform is the Trader Trend one, which is essentially a market-sentiment indicator, giving traders valuable clues regarding the odds involved with the trade they are considering.
Another great feature is Copy Trading which allows less experienced traders to copy the moves of more successful or experienced traders in the field. This copy trading feature is in fact, one of the main selling points of the Panda TS software.
BinaryOnline Option Types
The option types supported by the BinaryOnline platform are advertised as “trading tools.” The most basic of these is obviously the classic High/Low one. The High/Low options feature expiry times ranges from 15 minutes to 9 months. The minimum investment amount required for this trading tool is $5, which is great from a money-management perspective and the maximum amount can exceed till $2,500. The maximum percentage payout rate on offered on this tool is up to 85%.
The Range options allow traders to predict whether the price of an underlying asset will break out of a predetermined range or not. Expiry times on such trades usually follow intervals of 15 minutes to one day. The maximum payout rate on this tool is 78%, and the minimum investment amount required is $5.
One Touch options come with expiry rates with intervals of 15 minutes. This tool also offer payout rates of up to 85%. The target prices for the One Touch trades are predetermined. Traders can choose though whether they aim for the higher or the lower target rate. Traders can win trades before the expiry time set.
The short-term options offered by BinaryOnline are called Hyper Options. They come with expiry rates ranging from 30 seconds to 10 minutes interval. These options are designed for instant results. The minimum investment is $5 on this product too, and the maximum payout rate is set is up to 78%.
Copy trading is simply about copying the moves of another trader. The most successful traders of the platform are displayed on the right hand side in the copy trading section. People can copy the trades of these gurus at one click, without having to follow them.
The Social Trading feature gives copy-trading an added dimension. It allows traders to actually analyze the trading profiles of those they intend to follow. They can then proceed to copy the trades of these experts in the field. While social trading is indeed about copying the moves of other traders, it also allows users to retain full control over their trading process.
The BinaryOnline education section is called the Winners’ Corner. It offers the usual medley of educational material, but unlike similar offerings of other binary options brokers, their education section is broken into separate categories for beginners, intermediate traders and pros.
The Beginners’ section features an assortment of articles covering the basics and sharing a number of useful tips. An interesting article provided is the one dealing with the 5 reasons why binary option traders fail. A beginners’ strategy section is provided as well.
The Intermediate Traders’s section deals with more advanced concepts, such as trend identification, money and risk management, and very specific strategies concerning the trading of the EUR/USD pair.
For Pro traders, the bar is further raised. Articles on how to evaluate trading signals and how to put them to use dominate, but candlestick charts and candlestick patterns are also explained. Various advanced trading strategies are dealt with as well.
To complete the educational package, the Binary Insight section covers market research as well as education through a selection of videos. The main video library is called the “Knowledge Base,” which is accessible to all, unlike the videos and articles contained in the Binary Insight section.
BinaryOnline Account Types
BinaryOnline features three different account types, but they manage to cover an astounding range of deposits with them. The base account is the Takeoff account, which requires a minimum deposit of $250.
The Takeoff account offers full access to the Winners’ Corner as well as to regular webinars. It also comes with a 25% bonus and 24/7 support and daily market analysis are also parts of this package.
The Standard account requires a $ 2,500 minimum deposit. It comes with everything described above, plus a number of other perks, including 2 weeks of free trading signals and a personal trading advisor. The bonus with this package is 50%.
The Elite account is the Premium one, on which the minimum deposit is $10,000. The free trading signals are delivered for three weeks straight with this one, and there are 10 risk-free trades included in the package too. Those who opt for this account will enjoy higher payouts and they will be able to trade live with a personal Expert Trader. Traders should never forget though that such a personal manager works for the trader and thus, his/her advice should always be taken with a grain of salt. The best course of action is to just refuse to accept the services of such an assistant.
In addition to all the above, there’s an Islamic trading account on offer too, which covers a wide range of underlying assets and which features no spreads or commissions of any nature. Dedicated, 24/7 customer support is available for these accounts as well.
BinaryOnline Trader Compliance
In order to be allowed to withdraw and to manipulate their funds, traders will have to fulfill a set of compliance requirements at the site. They will need to provide proof of their identity (through the color copy of their ID card, their Driver’s License or their Passport.
Proof of address is required too. A utility bill will suffice in this regard. The proof of payment calls for a copy of the credit/debit card the trader has used for the deposit. Last, but not least, an Investment Testimony Form has to be downloaded from the BinaryOnline site, filled out and uploaded back.
All the above said documents can be uploaded through the My Account section, or, alternatively, through Fax.
The BinaryOnline support staff can be contacted through an email form, or through email@example.com. Live Chat support is available too, together with a handy Call Back service. Two phone numbers are available for support too: +442030265665 in the UK and +61288800196 in Australia. The compliance department can be contacted through firstname.lastname@example.org.
BinaryOnline Review Conclusion
As per our observation, this broker is above the average binary options trading destination, with a solid platform and an interest to educate its traders. Though not being regulated, this broker puts a lot of emphasis in protecting the investment of traders. The community feedback regarding this broker is on the positive side.
Already got an account with BinaryOnline? Please leave a comment below sharing your experience with this broker.
|Jurisdiction||– (based in Bulgaria)|
|Trading platform||Panda TS|
|Supportemail@example.com, email form, live chat, phone, Call back|
|Trader Demographics||New Zealand, Singapore, Malaysia, UK, Sweden, Germany, South Africa|
|App compatibility||Android, Windows, Mac, Linux|
|Minimum required deposit||$250|
|Minimum trade amount||$5|
|Maximum return||85% – more with Premium Account|
|Customer service||Eager to assist, available 24/7|
|Bonuses||Different amounts on different account-types|
You are invited to read our Guide to Choosing a Binary Options Broker if you’re interested in reading additional objective broker reviews.