Golden Binary Review
Golden Binary ceased operating as a binary option broker. It is out of business now. The review presented here is no longer applicable.
Golden binary supports two Languages: English and Japanese, and when you will open their website, you will find Japanese as their primary language. However, one can always choose an English language interface on the site. But you may get disappointed when you will notice that several of their web pages are not functioning properly, or they do not have any content on these pages. When one is claiming to offer online services, they need to maintain their website properly. Because of this, you may not be able to get many valuable details. For example, you cannot figure out anything about the parent company of Golden binary. Neither will you have any idea about their regulatory status and for how long they are in the business. When such key information is missing online, you will try to get in touch with their customer care. But again your attempts will go in vain. They claim that they offer online chat services but you will not find any way to start a chat with them. And if you email them, you can only be lucky enough to get a reply from them. An average trader will find very difficult to get the required information from them, before they can start building a business relationship with them.
However, the good news is that they are using the trading platform of SpotOption, which is a 100% web based platform allowing traders to accomplish their trade with more convenience and safety. Also, they have 80 trading instruments in their portfolio, which can provide with a sufficient number of choices for a trader to select assets for trading. Though we do not have an idea about the company name, but they are headquartered in British Virgin Islands. One can open an account with them for free and can deposit money in US Dollars and Euros. The minimum deposit is 100 units only, and they offer several fund deposit methods such as credit cards, wire transfers and various electronic payment methods. Golden binary maintains a minimum trade size of just 10 units. So, a small investor can find it easier to start investing with them with such a small amount. However, they do not seem to offer a demo account and a trader who does not have any prior idea of SpotOption may remain clueless about using the platform for their successful trading.
Their list of instruments includes 80 financial instruments from different markets. They bring a wide range of Forex, Commodities, Stocks and Indexes for their investors. One can start investing with as little as $10 or 10 euros only, while the maximum trade size could be 1000 units. They offer a payout of minimum 75% on their binary options and which can go up to 550% if someone invests in their “One Touch”. But there is no idea whether they offer any out of money reward to the traders who lose a trade. So, even investing your $10, you need to be a bit careful and need to do your proper market study.
Golden binary offers a minimum payout of 75% on their regular binary of Call & Put and one can think of making a profit of up to 88% in their regular binary. Option Builder may enable you to earn a profit of 78%, while 60 Second may bring you a profit of 72% in just 60 seconds. They also have an Open Platform where payout could be 88%.
When comes to bonuses, Golden binary offers bonuses as a part of their promotional program, and they do not offer any deposit bonuses. At the same time, if you earn some bonuses luckily, you will have to execute a trade of ten times of the bonus amount in order to withdraw it. So, a small investor may leave the idea of earning bonuses with them, with the kind of withdrawing condition they maintain.
Golden binary offers several types of technical analysis and tools that traders can use to gain the necessary market insight which will enable them to carry out trades successfully. They provide Daily Market Review and Weekly Market Review which will allow investors to assess the market conditions for their investment. They also provide Expired Rates and Expiry Rates Rules to the traders. The Fundamental Analysis that Golden binary offers to their traders can be very useful for them to assess the market movements appropriately. They also bring Live Financial News which will allow traders to remain updated about the market developments. However, they do not provide any multi-directional larger charts or live streaming that many other brokerage firms have started providing today.
Learning & Support
A newbie trader may again get disappointed when it comes to accessing Golden binary’s learning resources. First, they do not provide any demo account and they have just two things in the name of educational resources on their website: a Demo Video and How to Trade section. It is doubtful that these two resources will be sufficient for a newbie who is trying to learn the ins and outs of a binary trading. Traders who already have a prior experience of using SpotOption may not face any difficulty, however. Moreover, their customer support mechanism is pathetic. If you come across any problem, there is hardly anyway that you can get your queries answered. In such a scenario, it is a valid question how one can think of investing money with them.
Thus, a beginner may not prefer to choose Golden binary, with the kind of support and education that the firm provides to the investors. There are several other friendly brokers that offer a host of learning resources and helpful support to the traders. However, the major attraction is the SpotOption that many experienced traders would be using for years. But even they can be little apprehensive in investing their money, if they discover about Golden binary’s poor support mechanism. Moreover, licensing is an important criterion that most of the big investors often give due importance. However, their minimum trade size of $10 and a list of 80 financial instruments may draw attention of many traders.