bnryoptions ceased operating as a binary option broker. It is out of business now. The review presented here is no longer applicable.
bnryoptions.com is a newer binary options company that operates out of the United Kingdom. They do accept customers from the USA, but only those willing to use wire transfer. Thankfully they do not impose any fees for this. bnryoptions.com is impressive on sight. They have a ton of resources, their site is very well organized, and they have much better copy than you will see on most other binary options websites. What really impressed us however was their customer service and their realistic, positive attitude toward trading. If you are looking for a company with more to offer than the typical white label site, you will definitely want to look into bnryoptions.com.
Getting Started on bnryoptions.com
bnryoptions.com is open to clients all around the world, and using the Google Translate widget on the site, you can set the page to any language you want. You can trade in US Dollars, Euros, or British Pounds. The minimum deposit is $250 or equivalent. There are several different account tiers, and even at the most basic level you can get a match bonus of up to 100%. Referral bonuses are also quite generous; you can get as much as $500 per person you refer, depending on how much that person deposits and trades.
There are no fees for wire transfers, which is outstanding, especially if you are in the US and required to use them. There are some restrictions on withdrawals. You must withdraw a minimum of $100 or equivalent, and you have to pay a fee for withdrawing more than once per month (how much depends on the method you use). You also cannot withdraw until you have placed five to fifteen trades (depending on your account level). These restrictions are somewhat irritating, but should not pose a major concern if you are thoughtful with your money management and your initial deposit. Normally this would be a larger complaint, but in light of all the positives with this site, we are willing to overlook it.
There is also a chance to trade with a free demo account. What’s great about this site is not only do they offer you this valuable chance to test your strategies, but they don’t put any cap on it. You do need to deposit funds to open a demo account (this restriction is in place to conserve site resources), but once you do, you can use it as long as you like and as often as you like, forever. You will find only a handful of brokers that offer this opportunity.
Trading on bnryoptions.com
The site is powered by TradoLogic, a popular binary options platform. You will find High/Low options, Touch Options, One Touch Options, Range Options, and Turbo Options. The Turbo Options are 1-5 minute options. Range (boundary) trading isn’t offered by that many brokers, and it’s a great choice for trading in consolidating markets.
Tons of Trading Resources
One of the outstanding aspects of bnryoptions.com is the trading resources available. There are numerous educational resources including research tools, a glossary, a FAQ, how-to pages, a free eBook, and a platform walkthrough. Additional tools include daily and weekly market reviews, and at higher account tiers, weekly personal education sessions, in-depth market analysis, an assigned financial analyst, volume trading rebate, money management training, and more.
Additional tools give you more control of the trades you are in. These include rollover, early close, double up, and ChartPlus. The only limitation on the early close feature is the requirement that you wait until ten minutes into a trade to use it. There are more than 170 assets to trade.
Amazing Customer Service
Customer service is available via live chat, telephone, email or web form, 24/7. Unlike other companies that make this claim, this one seems to actually mean it. When we logged onto the live chat feature on the site, we were surprised when we were not only greeted by a real human being, but also enjoyed a very candid, open conversation about the website. Not only was the agent, Sue, happy to answer all of our questions, but she was very forthcoming about issues of regulation.
We’re usually given a runaround when we ask companies about regulation. The fact is, only a handful of binary options companies are actually regulated as such. Most companies will try to give contradicting information or steer around the issue. We’re more interested in honesty than a “yes” answer to the regulation question. It says a lot about a company’s transparency. Sue was very frank when she replied that bnryoptions.com is unregulated, and quick to point out that indeed, few companies are. That makes bnryoptions.com the second company ever to date that has given us a straight answer to this question.
Sue was very eager to talk about the binary options industry. We spent a good 40 minutes talking about trading. Since she was so interested in discussing, we asked her, “If there is ONE thing you really want people to know about this industry, what would it be?” Sue answered, “You can win money but need to learn to trade, manage risk, and take the long haul (to) build (your) account up slow and consistent. No short cut – many people think it’s easy money – couldn’t be further from the truth. Over 80% lose everything. But that means 20%, the smart ones, win.”
Most brokers are here to prey on the 80%, and aren’t going to do anything to help out the 20% who are really serious about trading. If you are really serious and willing to do the hard work to profit over the long term, I think you will find bnryoptions.com refreshing to deal with. They provide an unlimited free demo account to practice with, a lot of resources to learn from, and customer service which is forthright and available. If this broker is as helpful to customers as they were to our review team, they may be one of the best companies out there right now. It will be exciting to see how their business grows in the coming years.