Product name: BinaryBrokerz
This site gives it a rank of: 6 out of 10
What does it cost?: Free to create an account, but requires $250.00 minimum deposit before your can trade
Who is behind it?: Managed by a holding company called DSMG UK
Website Link: www.binarybrokerz.com
During my research of binary options trading, BinaryBrokerz is a name that frequently appears.
Simply put, binary options is trading on the stock exchange, whether it be in foreign exchange, stocks or commodities. This is huge business now and there are many different offerings available, so I have decided to include it here as a review of an online business opportunity.
You can watch their promotional video here:
BinaryBrokerz is relatively young, having been established in the latter part of 2014. Let’s take a look into the pros and cons of this opportunity.
WHAT’S GOOD ABOUT IT?
If you are going to venture down the route of binary options trading, you really need to be sure you have the best software around. BinaryBrokerz is one of the few that have a highly advanced platform from TradeSmarter, which also supports social trading – one of the latest trends in binary trading.
What is social trading? Pretty much what it sounds like really. It enables you to view what is being traded and by whom. You can also follow and engage with other traders. It does allow you to see who is most successful and gives the opportunity to emulate what those traders are doing.
BinaryBrokerz is one of the few brokers who offer the benefit of a demo account, but you will have to create an account in order to access this.
Because risk levels can be varied with this platform, the payout ratios are not static. The individual trader can choose the level of payout desired, offset by the level of risk desired. Customised trading is also available through the more advanced StrategiX trading tool.
There are bonuses available, which start from 35% at the level of basic account and go up to a maximum of 85% for the VIP account. You have to be a high-performer to get to VIP level. There are also some risk-free trades available, depending on the type of trading account held – these normally range between 5%-10%.
WHAT’S NOT SO GOOD?
BinaryBrokerz are not a regulated body, so if you end up losing money there is no come-back for you.
Not available in the United States
WHO IS IT PITCHED AT?
Anyone who wants to get involved in trading online – except it is not available in the United States.
WHAT TRAINING/TOOLS DOES IT OFFER
BinaryBrokerz does offer an education center and professional one-to-one guidance if needed.
Some Unique Features
The platform has an inbuilt “Riskometer” which helps each trader set a risk ration for each trade you want to make.
Let’s look at an example:
In order to get a high return on a trade, like 75%, the riskometer must be set to high – so if that particular trade fails, there will be no rebate available
Contrast this with a low-risk trade, with a return of 40% – the riskometer would be set to low and there is an opportunity to get up to 35% back as a rebate, should that trade fail.
Basically, the more you are willing to risk, the higher the potential return. BUT, also the greater the potential loss.
Types of Trades Available
BinaryBrokerz has three different types of trade
- the classic “high/low” options
- 60-second options
- StrategiX (for those that perhaps have more advanced strategies in place)
WHAT SUPPORT DOES IT HAVE?
There is customer support available via email communication, telephone and/or a Live Chat facility.
PRICE TO JOIN
It’s free to join, but it’s not free to trade. In order to make any live trades, you must first deposit money into your account.
Tiered Trading Accounts
- Basic Trading Account = $250.00 minimum deposit
- Silver Account = $1,000.00 minimum deposit
- Gold Account = $2,500.00 minimum deposit
- Platinum Account = $10,000.00 deposit
MY FINAL OPINION
BinaryBrokerz does seem to be one of the better binary trading brokers in the market, despite their relatively young age.
The two main benefits for me are
- the security of operating in one of the most advanced trading software platforms – after all, you are relying on the information and ease of use in order to trade
- the ability to vary the degree of risk for your trading – this I think is especially important when starting out.
Alongside this I would urge some caution – it could be easy to get caught up in the nature of this and if you don’t educate yourself properly, you may as well be using a Roulette wheel. If you aren’t confident that you can control your trading then I would suggest you avoid binary trading options.
BUT BE CAUTIOUS
I do think there genuinely is potential for financial gain here, but there are enough concerns online as well that I’m not sure whether people feel they have been scammed by someone promoting this incorrectly, or whether they have lost money through their own actions and feel BinaryBrokerz is responsible.
However, I think it’s fair to say that this company is clear about what’s on offer and provide genuine support to their traders. If you are going to explore it further, please go directly to their website – don’t be tricked through third party promoters who are using binary options to promote other scams. (www.binarybrokerz.com)
WHAT DO I HIGHLY RECOMMEND?
For anyone interested in setting up and running an online business in affiliate marketing, I highly recommend Wealthy Affiliate. It’s 100% legitimate and free to join. Click here for more info.
If you have any comments or experiences of your own you would like to share, please do so below.If you like this, why not share it?