BinaryBrokerZ (Inactive) Review

BinaryBrokerZ (Inactive) Home Page Screenshot BinaryBrokerZ (Inactive) Trading Platform Screenshot
Broker BinaryBrokerZ (Inactive)
US Traders Accepted
Company Name DSMG LTD
Headquarters Limassol, Cyprus
Regulation No
Max Payout 92%
Out-of-Money Reward 0%
Trading Platform TraderSoft
Early Closure
Deposit Options Credit/debt cards, wire transfer, CashU, iDeal, WebMoney, QIWI, Neteller, Skrill, Mister Cash
Deposit Currencies Australian dollar, Canadian dollar, euro, British pound, US dollar
Minimum Deposit $250
Minimum Trade $25
Maximum Trade $5,000
Online Since 2015
Trading Instruments Currencies, stocks, commodities, indices
Number of Trading Instruments 164
Binary Option Types High/Low, 60 Seconds, StrategiX: Above/Below, Range, Touch, No Touch
Customer Support Types Web form, email, paper mail, telephone, live chat
Education Offered How-to articles, glossary, FAQ, video series, eBook, one-on-one training, seminars
Tools Offered Market reviews, calendars, early close, double up
Commission $25 fee for wire transfers
Languages English, German, Spanish, French, Russian, Korean, Chinese, Swedish, Magyar, Portuguese
Demo Account Yes, on request.

BinaryBrokerZ is no longer operating as of December 9, 2016.

BinaryBrokerZ is a binary options broker based in Cyprus and owned by DSMG LTD. The company is not regulated, but they do not accept USA traders on their website. The site has a lot of information gaps and is difficult to navigate; a lot of pages and features are only available after you open an account, including live chat for customer support. The FAQ is quite lacking, and there are typos on the site, including in the copyright notice at the bottom of the page. There are a lot of areas where BinaryBrokerZ does not excel. Probably the best thing about this broker is that they use the TraderSoft platform, which offers traders advanced customization over their trades.

Opening a BinaryBrokerZ Account

If you are in the USA, the box for creating a new account will not be available to you; it will simply be grayed out with a message about your region and regulatory concerns. If you are located outside the US, you may fill in the fields and open an account. This will make it easier to navigate the site and see what BinaryBrokerZ has to offer.

The minimum deposit for BinaryBrokerZ is $250 or the equivalent in your currency; you may trade in US dollar, euro, British pound, Australian dollar, or Canadian dollar. Plenty of deposit methods are offered, including credit or debit card, wire transfer, CashU, iDeal, WebMoney, QIWI, Neteller, Skrill, and Mister Cash. Fees for deposits and withdrawals appear minimal—just $25 for wire transfers. No information is available on minimum withdrawal thresholds.

The minimum deposit will get you a Basic account, which comes with an eBook, daily market reviews, live chat support, a junior broker, and an introductory webinar. You also have access to the free resources on the site, which include a set of video tutorials. These look to be superior to most of the video tutorials I have seen on broker websites; they cover strategy and not just how to use the website. You can get a match bonus at this level, but there is no information on the site regarding bonus amounts.

There are four higher tiers you can choose from, depending on how much you are willing to deposit: Standard, Advanced, Premium, and V.I.P. All of these tiers come with the Basic advantages, plus some additional features. At the higher levels, you get access to senior brokers and 1-on-1 training sessions. Each level includes additional seminars on liquidity, reading charts, trading psychology, and more. All account levels include access to a demo account where you can practice trading without financial risk, which is a great feature.

Trading on BinaryBrokerZ

BinaryBrokerZ uses the TraderSoft platform. This is a white label platform, but it isn’t one you see all that often. It is not as common as SpotOption for example, which you see pretty much everywhere. But TraderSoft is arguably a superior platform. It is easy to navigate and has more sophisticated graphs, as well as the “StrategiX” feature. When you look at the platform, you will see High/Low and 60 Second trades (actually 30 seconds through 5 minutes), but click on StrategiX, and you will get a new window which includes Above/Below, Range, Touch and No Touch trading. While the main platform allows you to close out early or double up, there are additional customization options available through StrategiX.

The minimum trade amount for all trades, including 60 Second, is $25, which is a little high (most brokers set this minimum at $5). The maximum trade size is $5,000. This is a reasonably big range, though not the best I have come across. There are 164 assets available to trade in all, including currencies, stocks, commodities, and indices. Payouts are only around 75% on average, which is kind of low. There also does not appear to be any out-of-money refund. Can you trade on your mobile device? Yes, but there are no apps to download. The site is designed to be mobile-friendly and responsive on your iOS or Android device.

Another nice feature of TraderSoft platform from BinaryBrokerz is built-in analysis by AutoChartist. Social trading capabilities are also enabled in the platform – you can follow other people’s trades and also let others follow yours.

Customer Service

Customer service is available through a web form, email, paper mail, telephone, or live chat. Note that it is a little tricky to find the live chat; it is hidden under the Support menu, but you will not find it on the contact page. If you click on it and you are not signed in, you will be prompted to create an account. Once you do, you should be able to access the chat desk and talk to a customer service representative. It is annoying that you cannot access the chat without an account; live chat is a helpful feature for evaluating a binary options broker.

Conclusion: A Run-of-the-Mill Binary Options Broker

BinaryBrokerZ has a few nice features; the TraderSoft platform really is a great choice for any binary options trader who wants to control their trades. The fact that a demo account is available is also excellent, though the company reserves the right to give access to such accounts only to ‘serious’ traders. The resources available to traders look helpful and comprehensive.

The site itself though is a mess; it is hard to navigate, carelessly put together, and does not provide a whole lot of information about the company or the features. There is a real lack of information about bonuses, and if you are not signed in, it can be tricky to navigate to the page listing the account tiers and benefits. Average payouts are a bit on the low side, especially for a site that does not seem to offer any money back on lost trades. All told, BinaryBrokerZ appears to be a very mixed bag. They have a good foundation in place, but it would be easier to recommend them if they put a little more effort into their website. After all, you should be able to expect that same kind of care and dedication when it comes to the business they do with you.

Visit BinaryBrokerZ (Inactive) →

2 Traders' Reviews

  1. andrew reviewed BinaryBrokerZ (Inactive)

    They are 100% Scam, they ask for a small 250 start capital then don’t leave you Alone until you deposit more – so i did a total of 750GBP money i don’t mind losing . Well after registering they gave me a 100% bonus not realizing that i was only allowed to take money out after i reach over 40,000 GBP ARE THEY MAD!!! so they make money on all my trades regardless if i win or loss , and im not allowed to take money out until i reach the target? so what if i trade for 1-3 years or more i will never see this money! so i traded shit crappy trades to get rid of the money CRAZY but im not letting them take more money from any more trades.. waste of my time dont bother with them. to top it all off they never let me use the auto trade feature!

  2. Koos Jordaan reviewed BinaryBrokerZ (Inactive)

    I have lost a $1000, when they seized dealing with RSA. After a lot of email requests to pay back my money, and they even recognized my mail, havent heard from them again.
    They are shit, scam!!!

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