Cronika Review
| Broker | Cronika |
|---|---|
| US Traders Accepted | |
| Company Name | Cronika |
| Headquarters | Unknown |
| Regulation | No |
| Max Payout | 85 |
| Out-of-Money Reward | 0 |
| Trading Platform | Proprietary |
| Deposit Options | PayPort and cryptocurrencies |
| Deposit Currencies | Pakistan rupee, Indian rupee, Kazakhstani tenge, cryptocurrencies |
| Minimum Deposit | $10 |
| Minimum Trade | $1 |
| Online Since | 2025 |
| Trading Instruments | Forex currency pairs and crypto pairs |
| Number of Trading Instruments | 22 |
| Binary Option Types | Call/Put |
| Customer Support Types | Online chat, email, social media |
| Tools Offered | Indicators and chart drawing tools |
| Commission | 0.50% fees for withdrawals, $10 minimum |
| Languages | English |
| Demo Account | Yes (unlimited) |
Cronika is a binary options trading site for Call/Put options. The site is very opaque about its operations, not listing the name of the company or its location. We also were unable to find the year of its inception, though the About page states that Cronika had seen substantial growth by 2017. Let’s have a look at what Cronika offers.
Easy to get started
Cronika accepts customers from most countries. It only bans users from the US, North Korea, Palestine, the Russian Federation, and Vatican City State. As best we can tell, the only supported language is English.
One of the best things about Cronika is how easy it is to get started. When you join the site, you will receive a demo account loaded with virtual funds. You can practice as long as you want before converting to a real account. You can also go back to demo trading in the future if you want to test out some new strategies, or troubleshoot your methods after a losing streak.
Cronika has a proprietary trading platform, which is available for download on Android, iOS, Mac and Windows systems. So, you can trade on your desktop or mobile device. You can also trade directly in your web browser with no download if you prefer. So, there is a lot of flexibility in terms of compatibility and access.
The minimum deposit is $10, which is low enough that even traders with small bankrolls can join. The deposit options include Payport and crypto, with the available deposit currencies including PKR, INR, KZT, and crypto.
When you are ready to make a withdrawal, there is also a $10 minimum, which is not too bad. The withdrawal fee is 0.50%. The site conveniently tells you how much you will receive after the fee is applied.
Trading on Cronika
The trading platform is simple and straightforward. The chart is in the middle of the screen. On the right is the interface to choose “Call” or “Put” and the amount you want to risk. You can also click there to see your trading history. Drawing tools are located to the left of the chart. At the top, you can choose an asset, or apply indicators.
We have heard that the minimum trade size is $1, which is great. Unfortunately, there are no other types of trades to take except for Call/Put. The only assets available are currency pairs (fiat and crypto), and not a lot of those. So, while trading is easy on this site, it is also pretty limited. Payouts range up to 85% when you win.
Lots of gaps
You may have noticed that there are some things we normally discuss earlier in a review that haven’t come up at all. That is because Cronika is entirely lacking them. Let’s go over some of these missing features now.
- No account tiers: Most binary options brokers offer multiple tiers of accounts depending on how much you deposit. Higher account tiers usually include a range of extra bonuses, benefits and features. But there are no account tiers for Cronika. Everyone has the same basic type of account with no special features. Notably, this broker also does not offer Islamic trading accounts. If you need halal trading, you will have to head elsewhere.
- No bonuses: The majority of binary options brokers also offer bonuses and promotions. These may include a welcome offer, top-up bonuses, and so forth. Cronika does not list a single bonus or promotion anywhere on their site. For traders who are motivated by the extra value that bonuses offer, this will be a major detractor.
- No educational resources: The only thing that Cronika offers that could be said to be an educational resources is the FAQ, and that hardly even counts. It doesn’t answer many questions. There are no videos or guides that help traders learn, nor any sort of economic news.
Customer support is also not great
We always test out customer support at binary options brokers. We did the same with Cronika. The available support methods include social media, a live online chat on the website, and email.
We got on the live chat line to see if we could get a few of our questions answered. We were greeted by a chatbot. When we asked our questions, all the bot could do was confirm what we had already discovered—that the website itself does not explicitly answer those questions.
The bot claimed a human agent could be summoned, so we gave it a try. It said the human agent would arrive shortly, usually within 1 minute. We waited many minutes, and the human agent never appeared.
A total lack of transparency
One of the biggest issues with Cronika is the broker’s lack of transparency. The site provides very little information on the company and features. There is also little info to be found elsewhere about Cronika. The broker does not appear to be very well-known, and hasn’t established much reputation, positive or negative.
Final thoughts: Cronika is still pretty lacking
There are some positives about Cronika, like the availability of apps for all major operating systems across mobile and desktop, the quick and easy sign-up process, and the demo account that is instantly ready to use.
But there are some negatives as well, like the low diversity in assets or trade types, as well as the lack of educational resources. The fact that there are no account tiers or bonuses isn’t great, and customer service seems pretty slow or absent.
In addition, the fact that there is little feedback to be found on Cronika elsewhere adds to the questions and uncertainties surrounding this binary options broker.
So, at this point, we cannot say that Cronika is a “bad” broker, but we cannot say that it is a good one either. Cronika has some good things going for it, but it has a long ways to go before it is truly competitive with other high quality binary options brokers.