Here at Onlineoptionstrading we do our best to offer REAL, hands-on, honest reviews on those who offer services related to binary options, including binary options brokers.
While some other sites may provide bland and generic reviews which clearly show that they haven’t ever even looked at the broker, we only review brokers where we have actually opened accounts and traded. Trading and getting a feel of the broker is the only way to truly understand if the broker is any good. We test out all their features, including the payment processing and of course (the most important) withdrawal features.
Most brokers offer bonuses upon subscribing. Unlike most review sites, we do not think that this bonus should be of any relevance to the broker score, as the bonuses usually do more damage than good, as they tie your deposited money to the broker, inserting severe limits to how and when fund withdrawal is possible.
Stockpair, one of today’s most popular binary options brokers for US citizens, has, as of today February 23rd, 2014 stopped accepting trading clients from the United States. This may seem to be a big surprise considering their popularity. However, with increasing popularity comes increased attention from other sources within the USA, meaning it very well may be that increased pressure from US financial legal entities such as the SEC or CFTC may have finally taken its toll and caused Stockpair to reconsider if the reward was worth the headache.
Also, being on the verge of receiving licensing from the various regulatory bodies such as CySEC may have also played a part in this decision.
This now further reduces the options that US traders have when choosing a binary options broker, with Ubinary and 99binary currently being the leading alternative choices. Feel free to take a look at their reviews to see the advantages of each.
In a shocking move, iOption, one of the oldest binary options brokers, have announced that they are closing their doors. On Friday, November 8th, iOption notified its employees of their decision to close shop, effective immediately.
Rumors have it that iOption has accumulated a significant debt lately, in the few million USD range, making their decision to shut down seem a bit more logical. I have also started to receive a number of complaints from traders lately that iOption has been delaying withdrawal requests. Thankfully most of these issues were handled and traders did receive their funds.
It is still not clear what will happen to trader funds, but my advice to all iOption traders is to try and make a withdrawal sooner rather than later. I hope but doubt that they will be processed.
The iOption website is still up and running. Rumor has it that they are in the midst of being purchased by a larger broker, but it is still not clear whether they will continue operation using the iOption brand or will be devoured by the larger broker.
As I mentioned earlier in a previous article, perhaps the single most important decision to be made before trading binary options is to choose a good binary options broker.
Anyoption is one of the larger brokers currently in operation. I registered with them and started trading. The following Anyoption test is the review of my experience with them.
The bottom line (or spoiler) here is that while anyoption may be one of the largest and oldest binary options brokers currently in operation, they are far from the best. There are many other brokers out there today that offer more features, a faster platform, and better overall customer support. Stockpair and Beeoptions are probably the better alternatives if you’re seriously considering starting to trade binaries.
I’ve been receiving quite a few questions lately regarding the “trader’s choice” and “sentiment” tools that binary options brokers are offering, so I decided to make a quick video on the subject which basically explains my thoughts on the subject. For those of you who don’t have the patience to watch the video, the short answer is: no, I wouldn’t base my trades purely on Sentiment. Actually, I wouldn’t use it as a base for anything.
Anyway, as usual, feel free to leave comments or questions if have any.
I usually don’t do this with our reviews, but I’m going to make an exception with Beeoptions here.
Before going into the nitty gritty of their trading platform, I just want to say that Beeoptions is my new absolute favourite broker. They have one BIG feature that makes them stand out from the rest of the croud: They have a pure honesty policy.
These guys are by far the most honest broker in the market. They WANT their traders to succeed and make money, as their current strategy is building a name brand for themselves and creating brand awareness, and they say the best way to do that is create happy traders. Any trader that has withdrawable profits and submits all their documents (which can be submitted and confirmed even before you make your first deposit), will receive their payment within 2-3 working days. This is unheard of in the binary options industry.
These guys are one of the only brokers online that only have rave reviews from their users:
Also, they give traders all of the information upfront. Their sales team doesn’t try to oversell their product, promising massive wins to any trader. They tell it how it is. As many of us know, many brokers try to tie you down with different deposit bonuses, often neglecting to mention the hidden clauses regarding the volume you need to trade before you can withdraw. Well, with Beeoptions, they not only tell you about it, but they have a dedicated page linked from the main page, with the clauses in big bold letters (can be found here: http://www.beeoptions.com/BonusTermsConditions).
99Binary is operated by Nighnty Nine Holdings and run by a group of veteran forex and binary options brokers. 99Binary use a special binary options trading platform provided by Panda. They are based in Anguilla.
The combination of a very attractive tax system makes Cyprus one of the more enticing countries to do business within the EU community. This makes CySec is one of the most important regulatory bodies for both forex and binary options brokers, as it provides legal justification for them to continue doing business within the EU. As a result, almost all of the reputable brokers have been working hard over the recent months to receive full regulatory approval from the Capriotic institute.
We have now confirmed that the newest member to become fully regulated in the country is the leading broker: 24option.
Operating under their Cyprus registered name “Cbay Financia Services Ltd., 24option is in fact the name of the companies binary options trading brokerage.
The licensing has been in the works for some time now when it became apparent that this is an absolute necessity. Many other brokers are also waiting for the blessed approval, including Stockpair.
To read up more on 24option and their trading platform, feel free to visit our 24option review.
For more information on the list of CySEC approved companies, feel free to visit the offical CySEC site.