Glenridge Capital is a very peculiar kind of binary option broker. The company behind it doesn’t seem particularly keen on sharing any background information on the operation, not even through a proper “About Us” page, making the process of writing this Glenridge Capital review more complicated. This is the first thing we look for, as such a page is a sort of business card for an operator. Don’t look for the About Us section at their official site though, as it doesn’t seem to be linked from anywhere on their homepage.
They do in fact have an About Us page, which can be found through a Google search, and it is in fact hosted on their main site. At closer inspection, it becomes obvious why they didn’t think it worthy of linking from their homepage as an “About Us” section: it says absolutely nothing. There’s a pageful of text there, apparently written by CEO Vincent Glenn, but we do not really find out anything relevant about the operation he’s running. We are told that the site pays special attention to the needs of its traders and that it’s focused on fuss-free and quick withdrawals.
Glenridge Capital’s Regulatory Status
What’s obvious about Glenridge Capital is though that it is not licensed. Also: it hasn’t been around for long. Launched in 2015, it is one of the newer binary option brokers. While in the Contact section of the Glenridge Capital site, there’s a US phone number too, theoretically, the operation should be off-limits for US traders. The business model it pushes is the CySEC one, meaning that the broker is the only market maker. In order to ever even hope to obtain a US license, a broker has to adopt the exchange-based model.
Glenridge Capital’s Association with Auto Traders
According to community feedback, there are a number of auto-traders (many of them known scams) who have been associated with Glenridge Capital. Essentially, these auto traders have used Glenridge Capital as their trusted broker, compelling those who registered with them to trade at the broker. This is by no means a mark in the plus column for this Glenridge Capital review, far from it. The truth is though that this setup isn’t a clear one by a long-shot.
Despite evidence to the contrary, Glenridge Capital do not officially accept such auto traders at their brokerage. In fact, in section 18 of their Terms and Conditions, they state that those found to be using automated or semi-automated traders at their site, or any backdoor API, will be penalized through the cancellation of their positions and the closure of their account. What this essentially means is that even if one manages to eke out some profits with an auto trader, he/she will never be able to get any actual money out of it.
The Community Vibe
To make a long story short, the community vibe about Glenridge Capital isn’t good. There are a number of scam reports about the operation, as well as quite a few complaints. According to some of these complaints, Glenridge Capital representatives push a very aggressive agenda in regards to getting their existing traders to deposit and to trade more. Such moves are obviously contrary to the newest directives of the ESMA, which forbid brokers from encouraging their clients to trade more in any shape or form. Other complaints have targeted managed accounts. According to some traders, Glenridge Capital’s account managers ran losing trades for them, which eventually ended up running their balances into the ground.
Most complaints have been about the withdrawal process though. There were traders who flat-out said that they could not get their hands on their monies.
Glenridge Capital Account Types
The broker has 4 different account types, or rather levels, that are meant to provide traders with custom-tailored solutions. The base account type is the Entry one, which gives traders access to all the tradable assets, in addition to an eBook and a trading manual (exactly what the difference is between the two, is quite unclear). The Entry account requires a minimum deposit requirement of $250, and it gives traders a 100% match bonus on their deposits. Again, such bonuses are contrary to the requirements of most European regulators. The Entry package also includes up to 3 risk-free trades.
The Standard Account features a minimum deposit requirement of $5,000 and it offers a 200% match bonus on deposits. This package comes with up to 10 risk-free trades and in addition to everything the Entry account delivers, it also offers access to a personal analyst.
The Preferred Account is aimed at big-time investors. Its minimum deposit requirement is a massive $25,000 one, for which traders receive a 250% bonus. One needs to bear in mind that these bonuses need to be earned out through massive trading volumes, and their redemption requirements are extremely steep. They may even lock one’s initial deposit in. The Preferred Account features up to 25 risk-free trades and on top of everything the Standard account offers, it throws in a free iPad.
The Signature Account represents “the works.” This account includes everything Glenridge Capital could think of promotions and perks-wise. It requires a minimum deposit of $100,000 and it offers a 300% match bonus on deposits. The number of risk-free trades featured by such an account is 30. Above and beyond everything else the other accounts offer, the Signature Account also gives traders one week worth of insured trades (up to $250,000 in value), as well as access to a weekly personal consultation. This is the account type recommended for professional traders – according to Glenridge Capital.
There’s apparently a Premium Account available as well for those who deposit more than $500,000. What sort of features this account type offers, is quite unclear.
The payout percentages differ from one account type to another. This brings us to:
Glenridge Capital Payout Percentages
While in certain spots at the Glenridge site a maximum payout percentage of 85% is advertised, that isn’t exactly the case when one takes a closer look at the four account types. On the Entry and Standard accounts, the payout rate is set to 70%. On the Preferred and Signature accounts, it is 75%. This isn’t impressive at all, considering that the industry average in this respect is around 80-85%.
Glenridge Capital Promotions
Needless to say, most of the promotions offered by Glenridge Capital are designed to encourage traders to trade and to deposit more. Their risk-free trades are an exception from under this rule. Every new trader gets two such risk-free trades, and those who deposit at least 500 in any of the supported currencies, get another couple of such risk-free trades.
Every day, Glenridge Capital features an Asset of the Day. Those who invest in this asset, will get another risk-free trade.
The Refer a Friend deal is another way to grab some bonus money at Glenridge. Traders who bring a friend of theirs into the fold, get a $100 cash bonus. In order to get the deal, traders need to have an active account at Glenridge and the referred party needs to make a qualifying deposit. Traders have to contact their account manager with the name of the referred client.
Every weekend, there’s a sort of race taking place at the broker. Those who make a minimum deposit of at least $250 during the weekend, and then go on to trade (during trading days of course) earn a point for every $10 they invest. The trader who amasses the most such points during the promotional period, wins a long weekend with a luxury car. The estimated value of the package is $10,000. The runner-up is rewarded as well, with $5,000, while the third-place finishers gets $1,500.
Traders who deposit at least $25,000, get a new iPhone 6, which they can use for trading, with the upcoming mobile client developed by Glenridge.
The Glenridge Capital Platform
The Glenridge Capital platform is a very simplistic, proprietary trading platform, which is suitable for the trading of the Put/Call options with varying expiry times offered by the broker. The platform is not impressive in any shape or form. It is almost rudimentary and on top of that, there have been many complaints that it simply isn’t fast enough. Some trades do go through, while others are rejected. Still others go through with a delay, which causes them to end up OTM instead of ITM.
The Glenridge trading platform does not support 3rd party auto traders. Trading this way is possible in theory at least, but the terms and conditions of the operation do not allow it. Here’s a video demonstrating how the platform works:
Glenridge Capital Education
The entire Glenridge operation seems hurriedly thrown-together at closer inspection, and nowhere is this more obvious than in their education section. While most other brokers offer a small library worth of video material, interactive guides, articles and eBooks, Glenridge’s trader education section is only that in name. Their Beginners’ Guide for instance is a half-page article, which contains barely any information. The “Guided Tour” is a sort of graph, which takes up about half a page as well. Their Trading Tools are essentially a handful of extra features no one else would really call tools…These are the Extend, Double Up and Early Close features. By trading tools, operators usually mean technical indicator-based trading systems, but there’s nothing of that sort available at Glenridge.
The eBook they offer is hardly more than a summary guide on how one can open an account and begin trading at their site. The second chapter of this eBook is titled “What is Binary Options?” (sic). The eBook has 14 pages, including the cover and the Contents page and most of it is material already used in various spots at the site.
Glenridge Capital Asset Selection
The Glenridge Capital asset selection is decent. It covers 4 indices and 13 of the most popular currency pairs. 8 commodities and 16 stocks can also be used as underlying assets for trading.
Apparently, Glenridge Capital support German, English, Russian and Spanish, but their trading platform is only available in English.
Glenridge Capital Specs
|Broker name||Glenridge Capital|
|Trading platform||Proprietary, overly simplistic|
|Trader Demographics||Everyone, everywhere, there’s no information on whether they accept traders from the US.|
|App compatibility||Android, Windows, Mac, Linux|
|Minimum required deposit||$250|
|Bonuses||Several match-bonuses available. There’s even a Refer a Friend bonus.|
Glenridge Capital Review Conclusion
Regardless of how we turn this around, Glenridge Capital just doesn’t present itself as a solid and well-established trading destination. It is fairly new, it features an underwhelming trading platform and it’s not regulated. It has dubious connections to various auto-traders and the return rates they offer on most of their trades are well below industry-average. The Education section exists in name only, and they do not give traders any trading tools at all.
To sum up this Glenridge Capital review, you should stay away from Glenridge Capital and other unregulated brokers. If you must sign up with them in order to access a signal service, only deposit the minimum account and don’t accept any bonuses. (Read our Guidelines for Dealing with Brokers.)
It’s highly likely that you found Glenridge Capital through an auto trader. Keep in mind, we do NOT recommend using fully automated auto traders. Experienced traders may benefit from semi-automated signal providers. If you are in need of trading signals, check out our binary options signals page for recommendations.