Market Punter (No Binary Options) Review
| Broker | Market Punter (No Binary Options) |
|---|---|
| US Traders Accepted | |
| Company Name | Market Punter Limited |
| Headquarters | New Zealand |
| Regulation | Market Punter Limited (4480478) is registered as a Financial Service Provider (FSP) on the New Zealand Financial Service Providers Register (registration number FSP325466) and is a member of Financial Services Complaints Ltd. |
| Bonus Type | Welcome bonus |
| Bonus Size | $250 |
| Max Payout | 85% |
| Out-of-Money Reward | 15% |
| Trading Platform | TradeSmarter |
| Deposit Options | Credit cards, Debit cards, wire transfer, Skrill, Neteller, CashU |
| Deposit Currencies | Australian Dollars, US Dollars, Euros, British Pounds, Rubles, Yen, Yuan |
| Minimum Deposit | $250 |
| Minimum Trade | $5 |
| Maximum Trade | $2000 |
| Online Since | 2010 |
| Trading Instruments | Currencies, stocks, indices, commodities, pairs |
| Number of Trading Instruments | 79 |
| Binary Option Types | Call/Put, 30 Sec, 60 Sec, 2min, 5min |
| Customer Support Types | Email, web form, phone, live chat, postal mail |
| Education Offered | FAQ, online video tutorial, one-on-one training sessions |
| Tools Offered | Economic calendar, asset index, expiry prices |
| Languages | English, Arabic, Russian, French, Spanish, Italian, Latvian, Dutch, Korean, Chinese, Portuguese |
| Demo Account | Yes, free registration |
Market Punter stopped offering binary options trading. The review below is presented for the archiving purposes.
Market Punter has now moved to New Zealand from Sydney, Australia and is now registered as a Financial Service Provider (FSP) in New Zealand. Online since 2010, Market Punter has now updated its several features, such as mobile trading, multi-lingual support and multiple currency options for making deposits. They offer 79 trading instruments that include different currencies, stocks, indices, commodities and pairs from the global financial markets. Market Punter allows trading enthusiasts from around the world to make profits from the financial markets with the maximum payout of 85%. However, they do not cater to the traders based in the USA, and one needs to be of at least 18 years of age to start trading with them.
One of the important features of Market Punter is the Social Trading that allows a trader to see the activities of other traders and take advantage of the social binary chart for trading. One can register on their website for free, which may take a couple of minutes only. After the registration, one needs to activate the social profile in order to benefit from this new concept of social trading. This feature enables a trader to view other traders’ positions on the chart, and he/she can benefit from their investment decisions. This revolutionary feature promotes a collective wisdom and sets a new standard in binary trading. Market Punter thus serves the purpose of a transparent platform with an exciting social trading experience.
Once you open a free account with them, they allow you to demo trade to learn more about their way of trading different financial instruments. One can try a free demo to learn more about their trading platform. Market Punter uses TradeSmarter as their trading platform and also offers trading opportunities via mobile trading platforms. But for real trades, one needs to make a deposit of minimum US $250 or its equivalent in other currencies of Australian Dollars, Euros, British Pounds, Russian Rubles, Japanese Yen, and Chinese Yuan. The maximum deposit amount is $5,000. They offer several options for depositing money with them, such as Debit Cards, Credit Cards, Bank Payments, CashU, MoneyBookers and others. However, they do not accept PayPal. Market Punter does not charge any fees for depositing money into the trading account.
One can withdraw money at any time and they do not charge any commission on the withdrawal. One just needs to complete a withdrawal form, requesting the money and it will be processed in three business days.
Trading Choices
Market Punter has total 79 trading instruments in its portfolio that comprises of different commodities, stocks, indices and pairs. For traders interested in Binary Options, they have Call/Put, 30 Sec, 60 Sec, 2min, and 5min trading opportunities. One can use their Demo Trade to explore all types of Binary Options trading and can learn more about the payouts. The maximum payout per trade could be 85%, while the average out-of-money reward could be anywhere between 0 and 15%. Thus, one needs to trade money cautiously with view of the risk of losing money from the trade.
However, Market Punter offers flexible trading choices and one can start trading with as little as just $5 for 0 second, 60 second, 2 minute and 5 minute expiry times. However, for longer expiry times, one will have to increase the minimum trading amount to $20 only. Still the trading amount is reasonable and this may entice the small and newbie traders. However, the maximum trading amount is $500 for smaller expiry times and for longer expiry times, it will be $1000.
Bonuses
They do offer bonuses, but it seems to be a little tricky to receive the bonus amount in the account. Market Punter releases welcome bonuses, but the bonus fund is released as cash into the account of a trader, once he or she trades a multiple of the deposit amount plus the bonus amount. So in order to get the bonus, one needs to showcase his/her trading skills and make deposits and opt for a trading with a significant amount of money.
Technical Analysis
Market Punter provides some kind of technical tools, such as Economic calendar, Asset Index, and Expiry Prices, which may prove helpful for experienced traders. However, beginners may need to consult other resources in order to hone their trading skills. However, they have online video tutorials that may help the newbie traders. At the same time, Market Punter also arranges for one-on-one training sessions with the trading experts so that a new trader can gain some insights to start trading instruments with confidence. They also have a FAQ section on the website to help understand the basic terms involved in the trading of financial instruments in the market. Undoubtedly, they have insignificant learning resources for the beginners, and new traders may not find Market Punter very friendly to learn and start trading with them. And in such a scenario, their Demo Trade feature becomes crucial for a trading enthusiast to get a better insight about trading with them.
One can also take help of their Live Chat to clear general queries before trying their luck in the trading. They also have email, telephone and web form for anyone to connect with their customer services.
Conclusion
With a new feature like social trading, Market Punter tries to maintain a desired level of transparency and endeavors to make trading more interesting as well as rewarding. However, the lack of educational resources may deter newbie traders from joining them and start trading. They, however, have a significant asset index with trading instruments from financial markets around the world, allowing traders to pick instruments of their choice. TradeSmarter is also their proprietary software and very few traders may be aware of this trading platform. Thus, experienced traders may also need to learn about the platform before gaining the confidence of trading with them. As a Financial Service Provider in New Zealand, Market Punter is a member of Financial Services Complaints Ltd. Thus, traders can enjoy a level of assurance when it comes to maintaining transparency of trades and regulatory compliance.
Visit Market Punter (No Binary Options) →