Bloombex Options Review
Review by BinaryTrading.com
When someone logs on to the Bloombex website, the first thing can be noticeable will be their website’s speed, which is very slow. Moreover, if you will try to contact through their Online Chat, you are going to receive the message, “Sorry, we are not available now”, while they claim to offer 24-hour Live Chat Support. Things can be even worse when you will find your e-mail sent by you to their support team will bounce back to you. These are the key issues that critically raise questions about the reliability of Bloombex. An Options Broker’s support team should always remain accessible to its trader and when a trader will fail to reach them, he will think twice before doing business with them.
If an investor is not discouraged by these issues, he can surely be attracted by their platform SpotOption, which is reliable and well-known in the Options Trading sector. The platform is completely web-based and there is no need to download or install any software. Founded in 2009, Bloombex is headquartered in Singapore and they support two languages – English and French. They have several deposit and withdrawal modes. Interestingly, one can withdraw the money in the same mode in which he had deposited it.
They have over 50 trading instruments with a potential of earning up to 75% on their regular binary options, while their OneTouch trading feature can allow you to earn up to 500% return. They allow opening an account with a minimum deposit of $200 and do not provide any demo account. The maximum trade size is $1500 while for a single option, it is only $1000. The OneTouch option seems to be a lucrative option to make money, however it is not exclusive to them and several other brokers also offer the same. The OneTouch allows investors to keep their positions open throughout the day so that one can achieve the intended payout.
Bonus & Earnings
Bloombex offers an average In-the-Money reward ranging between 65% and 75%, which is a fair earning opportunity for a successful trader. Moreover, they provide an average out-of-money reward guarantee of 1-5% which gives an indication that you barely save anything if you lose your money with them. It is something like they will take away your cash but will return your wallet for sure. As far as bonus is concerned, it is offered as a part of their promotional offers, from time to time. Their bonuses are generally limited time offers and there is hardly anyway to make sure that you are going to win a bonus from them. Moreover, they maintain a complex system of bonus withdrawal which many, at least small investors, will not find very friendly. If you wish to withdraw your full bonus amount, you need to execute a minimum trading volume of 30 times for every $1 bonus. On such a condition, hardly any investor will attempt to earn a bonus from them.
There is nothing unique or significant with Bloombex when it comes to providing technical analysis and tools to its traders. They provide Daily Market Review and Weekly Market Review to the traders so that one can assess the market movements. They also provide Expired Rates of the assets which can be very much relevant for someone who wants to use their OneTouch trading feature for making money. News by Yahoo Finance is an additional feature. However, it is again nothing something exceptional that an investor would be very excited about. Importantly, for the newbie investors, they could have offered better trading tools such as historical data and multi-directional charts. The unavailability of fine trading tools with them seems to be a major setback and can be a deterring factor for many new binary option trading enthusiasts.
Learning & Support
As mentioned above, they do not provide any demo account, but have a Demo Video tutorial explaining everything about opening an account with them and how to trade with them. Newbie traders can consult their Glossary section to learn more about Options Trading and also about their platform. Their FAQ page too is recommended to learn about Bloombex platform in detail and how to fund your account and how to start trading. But their support part seems to be horrible, as neither their Online Chat nor their e-mail seems working. The only sure option to get in touch with them could be to make calls to their UK phone number. They have their Head Office in Singapore but surprisingly, they haven’t given any phone contact of their Singapore Office. The Fax number given on their contact page is again a UK number.
There are several questions that point out why anyone would be interested in doing business with them. The major question revolves around their accessibility, as both the chat support and e-mail seem not working. Moreover, they have just one UK phone number to contact them. Secondly, they do not provide a demo account. They have kept their minimum deposit amount as $200, while there are so many brokers who allow account opening with as low as just $100. This is certainly a discouraging factor for newbie investors, no demo account and $200 minimum deposit. Besides, their bonus scheme could be a major deterring factor for many traders, which seems to be less promising and more difficult to attain. And above all, their out-of-money reward of 1-5% can force any trader to think whether he is going to get back something if he loses while trading with them. However, their One Touch trading feature may appear attractive to several investors, but again there are several other brokers in the industry, offering such a trading feature to their investors.