247Binary ReviewOctober 3, 2013
247Binary is a refreshingly new Spotoption-powered binary options broker offering payouts of up to 85% on digital options as well as 30, 60, and 120 second options.
The signup process was very simple. Much like other brokers that are powered by Spotoption, this one offers a simple registration form with only 5 fields to fill out. When that’s finished you are immediately directed to the cashier section of the software where you have the option of investing as much or as little as you wish.
The platform is completely safe and protected by a 128Bit Secure Socket Layer (SSL), which is what all brokers are doing to protect themselves these days. It is important to mention though that when I asked the support rep to confirm my credit card number, I was told she can only see the last 4 digits. This is critical if you want to know your credit card details are safe, and you should always ask this question.
The software is powered by Spotoption. The premier binary options platform offering licenses to a variety of industry-leading brokers such as Traderush and Goptions.
Assets Index (Partial Listing):
- Stocks: Google, Amazon, Coca Cola, Microsoft, Apple, IBM, BP
- Currencies: USD/TRY, EUR/GBP, EUR/JPY, USD/CAD, USD/JPY, GBP/USD,EUR/USD, NZD/USD, USD/CHF, USD/ZAR, USD/SGD, AUD/USD, USD/RUB
- Commodities: Sugar, Gold, Wheat, Silver, Oil, Platinum, Coffee
- Indices: FTSE, DAX, Tadawul, Ibex, S&P500, Nifty, Nikkei 225, Nasdaq, Hang Seng, ASX.
- Short Term: This would include 30, 60, and 120 second options.
- Long Term: This feature is designed for longer contract and expiration times and dates.
- Pairs: Basically Forex currency pairs trading.
- Dynamic Options Builder: Lets you customize your risk/reward criteria. Simply select the asset and the investment sum. The expiry time and Profit/Risk percentage can also be changed according to how much you want to risk.
- Sell Option/Rollover and Double Up: You can re-invest if you feel the contract will expire in the money this is called doubling up. Rollover is the opposite, you can postpone an expiry time if you feel the contract will expire out of the money. Alternatively you can sell the option back to the platform for a fee.
- One Touch: Extremely high risk and not recommended for beginners. If you feel the asset will ” touch” a certain point or goal you can gain up to 550%.
- Minimum Deposit: $200
- Minimum Trade:$5 on 60 Seconds
- Minimum Withdrawal Policy: $100.
- Withdrawal Fee: $25
- Accepted Currencies: USD, EUR,GBP
- Demo Account: No
Bonuses and Promotions:
247Binary offers a first deposit bonus of 50% up to $10,000. The top up carries a trading requirement of 20 times the deposit plus bonus, so getting a bigger bonus isn’t necessarily the best thing. It’s best to take a smaller bonus with less trading volume requisites attached to it.
This broker offers the standard depositing and withdrawal options consisting of all the major credit cards such as Visa, Mastercard, Diners Club, and Amex (American Express). Additional methods include Moneybookers (Skrill), Cashu, and Nordea which is more relevant for Danish and Scandinavian traders. Unfortunately Paypal and Neteller are not accepted. Withdrawals are usually done via bank transfers and carry a fee of $25. Accepted currencies are EUR, USD, and GBP.
247Binary promises to be one of the best binary options brokers available today for traders wanting to invest and profit in 60 second options as well as standard digital contracts. The support was professional and courteous, and withdrawing money was very easy and fast (definitely NOT a scam). Altogether, highly recommended for all English speaking traders including USA. Total score is 9.5/10.