Lottmarket (No Binary Options) Review

Lottmarket (No Binary Options)

Rating: 3.3/10

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Broker	Lottmarket (No Binary Options)
US Traders Accepted
Company Name	AXPP Ltd.
Headquarters	Vanuatu
Regulation	No
Max Payout	78%
Out-of-Money Reward	0%
Trading Platform	Proprietary
Deposit Options	Credit/debit cards, wire transfer, e-wallet
Deposit Currencies	US Dollar, Euro
Minimum Deposit	$200
Minimum Trade	$5
Online Since	2014
Trading Instruments	Currencies, stocks, commodities, indices
Number of Trading Instruments	36
Binary Option Types	High/Low, Touch, Range
Customer Support Types	Email, web form, live chat, Skype, phone, paper mail
Education Offered	FAQ/glossary, how-to articles, eBook (supposedly)
Tools Offered	Market signals, auto-trading (supposedly), PAMM
Commission	One free withdrawal per month, $30 fee for additional withdrawals. Minimum withdrawal threshold of $10.
Languages	English, Russian, French, German
Demo Account	Yes, no limits.

Lottmarket ceased operating as a binary options brokerage. The review below is presented for the archiving purposes.

Lottmarket is a binary options broker based in Vanuatu and operated by a company called AXPP Ltd. Lottmarket was founded in 2014, but still has a lot of defects in its design. The company claims to offer many features which are presently unavailable; there is a plethora of broken links and navigational dead-ends. With an ambitious proprietary platform and PAMM trading, Lottmarket does have some interesting features, and could eventually offer a great trading experience—but only if its owners decide to get the site in gear.

Getting Started with a Live or Demo Account on Lottmarket

To open an account, simply click on the red “Open Account” button in the upper right-hand corner of the screen. This will take you to a short form where you can put in your basic details and register for free. You have to sign in using the unique username the site assigns you, which is a string of numbers, so check your email to get it.

If you want to start trading live, you can make the minimum deposit of $200 (or more) using your credit or debit card, wire transfer, or e-wallet. There are no account tiers listed anywhere on the site, which is disheartening, and no bonus information. Basically, you would need to contact a customer service representative directly to know what you are getting yourself into.

One cool thing about Lottmarket is that they offer a fully functional demo account. Best of all, you get to use it for as long as you want, and are even encouraged to do this! A no-strings-attached demo account is a rarity in the binary options world, so take full advantage of this feature if you decide to trade on this site.

Withdrawal terms are pretty reasonable. You can withdraw once a month for free, after which you have to pay a $30 fee. This isn’t great, but it isn’t too shabby either. What is great is the fact you can withdraw as little as $10. You don’t often see that kind of flexibility; most sites require you to withdraw $100 or more.

Trading on Lottmarket

On Lottmarket, you can trade on your mobile device (Android), or on your desktop or laptop. The charts and platform are one of the better aspects of the site. The platform, which is proprietary, looks and works nicely, though it will take you some getting used to. There is also a “live chart” you can open and plot some really basic stuff on. There isn’t much in the way of indicators yet unfortunately, so it’s best to just stick with your MT4 software.

There are 36 currencies, commodities, stocks and indices available to trade on Lottmarket. You can take High/Low (including short term), Touch, or Range trades. The addition of Range trades is excellent. These are sorely missing on most binary options websites. There is no double up, rollover, or early close, which is a big detractor. There is however a huge amount of flexibility in trade sizes. You can trade as little as $5, and there appears to be no upper limit.

PAMM Accounts

The most noteworthy distinction about this site is the fact that they offer PAMM trading. This is basically a type of managed account where someone else trades for you, and you get to sit back and (hopefully) watch the profits roll in. The manager doing the trading is investing your money, his, and money from other investors. He gets a cut of the profit from your capital in exchange for trading for you.

This is common in Forex, and great to see in binary options. While there is obviously more discretion going into the trades than you would see with an auto-trading program, you get the benefit of real expert trading knowledge on your side. You also can rest easy knowing an actual human being is closely monitoring and adjusting the trades which are being executed on your behalf.

Problems on the Site

The main impression that Lottmarket gives is “very unfinished.” Most of the site content is either missing or in broken English. Many of the links are broken and lead nowhere. They just redirect you to the main page or to an unrelated page on the site. Lottmarket promises auto-trading, signals, and an eBook, but none of the links to those resources take you anywhere. So all of these materials and services are apparently still under development. The FAQ page is also incomplete, and seems to be serving double-duty as a glossary.

Support is available through phone, live chat, Skype, web form, email, and paper mail. Unfortunately, the live chat link is yet another dead link on the site. It doesn’t even open a box to send a message.

Conclusion: Interesting, But Needs Lots of Work

Lottmarket is a mixed bag. There are a lot of features here that make me want to give this website a recommendation, and hopefully I will be able to do just that someday. The no-strings-attached demo account you are encouraged to use as long as you wish is excellent. I also love that they offer range trading. And the PAMM trading is another great opportunity. It seems like Lottmarket is doing its best to offer a lot of the same great features and services you would find through an FX broker. This is something that more binary options brokers should really strive to do.

It is impossible to recommend Lottmarket right now, though, because they are just so unfinished. They need to get some readable content on their website, fix those broken links, get their live chat powered up and working, and provide the services and resources which they advertise. It would also be great if they could get some technical indicators for their proprietary charting software. If they can fill all of these gaps, they have the chance to be an innovative and exciting binary options broker.

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