23traders review: Honest binary options broker review

Rating: 99/100
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I usually don’t do this with our reviews, but I’m going to make an exception with 23traders here.
Before going into the nitty gritty of their trading platform, I just want to say that 23Traders 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.

Overview:

23Traders Summary
Founded Early 2015
Normalized profit Up to 91%
Trading assets Stocks, Forex, Commodities, Indices, Pairs
Total assets 65
Min. Account size $ 250
Min. Trade size $ 25
Banking methods Credit Card, Electronic Payment, Wire Transfer, Neteller, Skrill, Ezopayz
Special features Free Ecourse, Trading Ebook, Interactive Ebook, V.o.d, Early Closure, Expiry Calculation
Trading Platform Spotoption
Website http://www.23traders.com

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. 23Traders may be a relatively small broker, but this definitely doesn’t show in their asset portfolio.’s 23Traders offers almost 200 different tradeable assets and tools, making it all that much easier for all traders to find an asset that they will be comfortable to trade

Online reputation:
One of the better ways to know if a broker is any good is simply by digging up on them over the internet and looking for user reviews (other than this one of course). Since this is somewhat fluid and constantly changing, I always monitor the web looking out for user reviews and how the broker is behaving with other traders besides myself. Despite their tremendous growth over the past year, 23traders has managed to keep an excellent online reputation. You’ll have to look really hard to find any negative reviews on them, which is not something I can say for most brokers and just goes to show how important and beneficial it can be to run a clean ship.

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Before we go into reviewing the actual platform, I think I’ll dip into what a lot of traders truly care about when choosing a broker. You see, there are unfortunately a lot of bad seeds in the binary industry who provide really bad support and make it nearly impossible to withdraw your funds.

Unlike some other brokers where they try to make it harder for your to submit a withdrawal by forcing you to send them a FAX or email of a scanned written withdrawal for, 23Traders have a fully automated online withdrawal process. Simply access the withdrawal section in your acccount management page and enter how much you wish to withdraw. If you’ve already submitted all your documentation to validate your account (something we recommend doing right at the start), the process from there is pretty easy and fast.

Opening an account at 23Traders is unsurprisingly easy and only takes a few minutes. The minimum deposit is quite reasonable at $250. Anything less than that and you can’t really trade properly as you won’t have enough liquidity.

Bonuses
Bonuses are offered by many brokers as a means to help traders have more liquidity when trading. However, it is important to read the terms and conditions of the bonus before accepting. Many brokers try to hide these T&C and pull them out only when it’s in their interest.
23Traders is very upfront about their bonus policy and have it clearly stated in their T&C. The wording is also very clear with multiple examples in order to make sure that you fully understand what you’re signing up for if you take a bonus. Also, unlike many other brokers, accepting a bonus does not tie down your initial deposit. Even if you accept the bonus, you can still withdraw your funds at any time. Accepting the bonus does however affect your the profits you made if you don’t complete the required volume:

Customer Support
Customer support is probably one of the most important aspects of a broker since it basically shows how much they care about their customers. As I said previously, 23traders DO care very much about customer satisfaction and their customer support system seems to be working without a hitch.
They offer email support, along with local telephone support in a number of different countries, and of course live online chat which is very quick to answer and pretty effective.

Trading Interface
As I mentioned earlier, 23Traders operate with their own use a very straight forward and user-friendly Spot 2.0 trading system. The graphic system is great and everything is instantly understandable. They offer a wide range of trading tools and instruments

Regular Binary Options
23Traders’ interface provides quite a bit of flexibility for traders of regular binary options. You can choose between 3 different trading layouts and switch between then easily. I would recommend trying each of them and seeing which sits best with you. All of them allow for easy and straightforward trading directly from the main screen.

Another great feature that 23traders offers that not many other brokers offer is trading directly from a full candlestick graph. Unlike many other brokers, this graph allows you to set candle timespans from 1 minute to a month, finally making it possible to make educated trades both on long term and short term.

Pairs trading

23Traders also offers pairs trading option. When trading pairs, you are basically buying options as to which of two idices or stocks are going to perform better over the next period of time. This can be a pretty good tool if you expect one of the assets to make a big move while another trades sideways.

Long Term
For those not interested in the regular expiries, 23Traders also offers long term options with expiries reaching almost a year sometimes.

60 Seconds
Despite the name on the menu, the 60 seconds feature actually refers to short term options. This includes expiries ranging from 30 seconds up to 300 seconds (5 minutes). With 60 seconds you can also trade straight from a candlestick graph

One Touch
The One Touch option is one of those high risk high rewards instruments, with payouts sometimes reaching upwards of 400%.

Ladder
The Ladder allows the trader to make multiple predictions on a particular asset and expiry time, with differente payouts and profits. As oppose to classic binary trading, with the Ladder, a trader can select multiple options for the same expiry time that are deep “in the money” to gain a few % points in a “safer manner”, or choose an option that is “out of the money” to gain a potential return that can reach up to 1500%.

Forex
23Traders also has an option for what they call “Forex trading”. While it’s not exactly MT4 forex trading, it is a simplistic form of the same.

Summary

After trading for a while with 23Traders, I can say that I have pretty much fallen in love with their interface. Everything works seamlessly and fast. It is obvious that a lot of effort has been put in to make the user experience as good as possible. I truely respect them for that. They work really hard to keep their customers happy and have one of the best support systems I’ve encountered in binary. If they keep their level and standards as high as they are keeping them now, I see these guys becoming major players in the industry.

23Traders can definitely wholeheartedly recommended!

 

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