1st Place! Best Binary Broker 2020!
Best Choice for Beginners — Free Education + Free Demo Acc!
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2nd place! Good choice!
Brokers » BinaryOnline
- 24/7 Customer Support
- Innovative trading platform
- Excellent choice of accounts
- Rich educational resources
- Good choice of bonuses
- Unregulated broker
- Too few ways of deposit/withdraw
BinaryOnline is a customer oriented broker with a superb trading platform
As the company offers basic welcome bonus and a risk free trade we gave it 75/100. The platform is hosted by Panda Trading software and the company has made the best of it for their customers which earned them 85/100. Dedication and care for their customers earned BinaryOnline 90/100 and a number of assets within the middle range of the industry scored them 80/100.
With hundreds of brokers coming to the party in the relatively new binary options market, and regulation at its early stages of being implemented, it is not an easy option to choose a reliable broker. There are a few and for every one of them you have ten more scammy ones. There are things that have to be taken into account when you try to figure out whether to open a live account with a broker or not and we are going to look through them while doing our thorough review of BinaryOnline binary options broker.
BinaryOnline is a company that was established in 2020, by a number of industry professionals, who wanted to offer the investment community a better choice of trading instruments in the binary options arena. It is situated in Sofia, Bulgaria and at the moment is not regulated by any financial authority. They use the Panda Trading platform and provide most categories of assets in the industry. Despite being unregulated for the time being, it takes a very serious approach to the safety of clients’ funds and avoids any shady dealings in their transactions.
In terms of assets, the broker can offer a wide choice of instruments for their customers. They have 10 classes of assets (with over 200 instruments) that you can choose from and trade. They are:
- Classic Binary Options
- Long Term
- One Touch
- Option Builder
- 60 Seconds
Each specific product has specific requirements to trade that include: minimum investment, maximum investment, minimum and maximum expiry times, number of instruments that can be traded (Commodities, currencies…) and potential payout.
An asset that is worth mentioning is TradeReplica. This asset allows you to copy a specific successful trader from the list on their trading platform and copy all open and future trades that they have or are going to make. This is part of social investing and basically you leave all market analysis and decision making for those traders you copy. So, you can pick the best trader form the list and start replicating his success. Of course, you can stop copying any time you want. You are always firmly in charge!
Bonuses & VIP programs
BinaryOnline offer some bonuses that depend on the type of account you open. Every investor who opens an account with the broker will get a bonus of a certain percentage of deposit that is made; depending on the type of account (out of 4 possible) a trader opens. Bonuses have to be traded 30 times before you can withdraw them and profit from it. There are terms and conditions for bonuses and you can read about them on the broker’s website.
The company has 4 types of accounts to choose from: Takeoff, Standard, Premium and Elite.
Takeoff is the basic one and the depositing amount for the account has to be within the range of $250-2499. You will also get up to 25% bonus of your deposit amount.
1st Place! Best Binary Broker 2020!
Best Choice for Beginners — Free Education + Free Demo Acc!
Sign-up and Get Big Bonus:
2nd place! Good choice!
Standard is the next step and the depositing amount for the account has to be within the range of $2500-9999. You will also get up to 50% bonus of your deposit amount. You will get a personal trading Advisor and 2 weeks of trading signals for free.
Premium account is a special one as the range of deposit is between $10000-49999. Your welcome bonus will be up to 75% of your deposit amount and 3 weeks of trading signals for free.
The Elite account does not have description onsite, which is a bit disappointing. You have to contact the staff over email or telephone to discuss specific details for opening this kind of account, but the company also promises that this account has most perks and most powerful opportunities. Perhaps the terms are negotiable?
Fees, Payouts and Trading Features
As with most other brokers BinaryOnline does not charge any fees or commissions. The minimum deposit is $250 for a Takeoff account Minimum trade amounts differ depending on the type of options you trade. For example, for 60 seconds options in indices and commodities, minimum trade size is $5, but for currencies, it is $10.
The maximum amount again differs depending on the instruments you trade, but the maximum amount is capped at $5000 or other currency that the company allows you to operate with. Payouts also differ on the type of account you trade, instruments and expiry timings, but the maximum payout seems to be 85%, which is slightly below industry maximum of 95%.
The broker uses Panda Trading platform as their basis and we are impressed to see what they have done with it. It is easy to use; all ten assets can be seen on the same window. You can clearly see all the price graphs, technical features you can use at any time and the process of placing trades is extremely easy. Technical indicators are also there, so you can do some analysis before placing a trade. Each asset has special platform features too. You can do rollover, double up or sell.
Rollover can be used when you do not want to lock in profits or losses at the indicated time, so you can prolong the process and push the expiry date forward. It is useful when you are sure the trade will end in a loss, so you can try to wait till it turns around and shows profit.
Double up is useful when you have a profitable trade that is sure to stay that way. Then you can double your position and reap double profits.
Sell function enables you to sell your position earlier before expiry time. It may be done to realize smaller profits or for any other reason you want to close your trade earlier.
The trading platform can be used as a desktop version or as a mobile app, whichever you prefer more.
It does not matter where you are, you can trade binary options with BinaryOnline by means of their mobile platform. Wherever you are, you can open their mobile platform and open a trade on the asset of your choice. It is convenient, safe and all of your data remains confidential. All the functions which are available on the web platform, such as: Deposits, withdrawals, trading, contacting customer service, studying educational materials are all there. You can go to Google Play website to download their app for free.
Deposits and withdrawals
The methods you can deposit and withdraw money on your account with the broker are not very rich. Currently, they offer you a transfer either by credit/debit card or by Bank transfer. You might miss other payment methods, but don’t forget that they are still new players in town, so other methods will be introduced later.
Credit/debit card transfers are instantaneous and are immediately available in your trading account, while a Bank transfer may take up 4-5 business days before money is available for trading and when the transfer occurs, the company guarantees that the funds are secure in a number of ways. This can be found by contacting their compliance team. After that you will have to present the following documents: a proof of address, a proof of payment, an investment testimony form that you will have to fill in before the transfer and a proof of identity. Without those documents you won’t be allowed to start trading. So, the company takes compliance procedures seriously and does its best to protect its name as a reliable entity.
This is the field that the company can really be proud of. Their professional customer support team is available for you 24/7 and you can contact any time of day by email, phone or live chat. Whichever method you decide to use a live person will reply to your email, call or live chat. They are well trained and will be able to answer any question connected to trading, platform or opening your account.
Extra features and resources
BinaryOnline has a lot of extra resources, most of which are educational in nature. They have set a task to inform traders on every possible aspect of trading and therefore created a special section “Success centre” for any level trader: beginner, intermediate and advanced. There, you can find videos that introduce you to the world of binary options, explain various aspects of trading psychology and teach you about risk management. Intermediate traders will get more sophisticated materials and advanced traders the most advanced trading techniques and ways to analyze various segments of financial markets. You will also get access to tons of various ebooks, webinars and a library where you can search yourself and find any topic you want to familiarize yourself with.
Despite the fact that BinaryOnline is a new broker in the industry, we have not found anything to indicate that they are a scam broker. They seem to follow regulatory rules of most trusted regulators, comply to anti money laundering laws, keep their clients’ funds safe in a number of ways and provide excellent services by means of innovative trading platform, educational materials and unparalleled customer service. We would recommend their services to any trader.
Where can I view my Transactions History?
For a complete list of your transactions with BinaryOnline and a history of your deposits and withdrawals, log into your account and click on “My Account”. Then, locate “Banking History”. This is a comprehensive section which has all the information you need.
Is there a registration fee to join BinaryOnline?
Registration with BinaryOnline is completely free and there is no hidden fees. However, to activate your account for trading, you need to fund it with the minimum amount of 250 USD/EUR/GBP or the equivalent in your local currency.
Is there a minimum withdrawal amount?
The minimum amount you can withdraw from your BinaryOnline account is 100 USD, EUR or GBP or the equivalent in your local currency.
Is my account secure?
All funds deposited by traders on their account are held separately in segregated accounts, which are used for trading purposes only. This means that the funds are safeguarded from any and all crisis. BinaryOnline also strictly adheres to KYC and AML procedures to fight fraudulent financial activities and account fraud.
BinaryOnline Review – Is it scam or safe?
|Minimum deposit||Min./Max, bet size||Payout %||Welcome Bonus||Trading platform|
|$5 / $5 000||Up to 81%||From 25% to 75%||Web-based|
BinaryOnline is a binary options broker, offering trading in currency pairs, commodities, indices, and cryptocurrencies on their in-house web platform. It operates without a broker license.
Otherwise, BinaryOnline’s website is rich in content and with nice design. There is also extensive educational section. All accounts, instruments and platform features are well-described.
BinaryOnline offers its clients a choice of several account types, depending on the initial investment:
|Account type||Min. initial deposit||Welcome bonus|
|Takeoff||$250||Up to 25%|
|Standard||$2 500||Up to 50%|
|Premium||$10 000||Up to 75%|
Standard & Premium account holders get personal trading advisor and 2 – 3 weeks of free signals trading. The broker also offers swap-free (Islamic) services.
The Company. Security of Funds
Founded in 2020, BinaryOnline claims to operate in over 100 countries and to have more than 200 000 registered users. According to the information on the broker’s website, the brand is owned and operated by Zola Ltd. – a company based in Bulgaria, which does not hold a brokerage license. Although operating without proper authorization is not uncommon in the binary options industry, we advise traders to choose their brokerage very carefully. There are many scams out there, targeting mostly unexperienced traders, and most of them are not regulated.
That is why you’d better choose a broker regulated in Cyprus, for example, where CySEC exercises certain supervision and control and where your money is protected by the Investor compensation fund up to $20 000 in case something goes wrong.
Trading Options: Call/Put, Long term, 60 seconds, Ladder, One Touch, Pairs, Builder, Limits, Tradereplica
Assets: Currencies, Stocks, Indices, Commodities, Cryptocurrencies
Expiry times: from 60 seconds (60 seconds) to 1 year (Long term)
Minimum Initial Deposit
The minimum initial deposit for clients of BinaryOnline is $250, which is a bit high for an unregulated broker. In comparison, in order to open an account with CySEC-regulated NenX, traders have to invest just EUR 10.
The minimum bet size with this broker is $5 for 60 seconds and $25 for classic options, which is average for the industry. Of course, there are brokerages offering lower minimum bet sizes – with NenX one can place a trade with just EUR 1. Such low minimum bet sizes allow for better risk management.
BinaryOnline’s payout amount for standard binary options is up to 81% on EUR/USD, while returns for 60 second options are up to 70%. Returns up to 81% are on the lower end of average. In comparison, NenX offers high payouts, reaching 92%.
BinaryOnline’s web trading platform has a standard interface and is easy to use. Mobile application is also available.
Apart from the standard trading options (such as Call/Put, Long term, 60 seconds, Ladder, One Touch, Pairs), there is Tradereplica option. This is a social trading feature, where successful traders are rated, and where other users can follow them and copy their trades.
In addition, BinaryOnline’s platform also has additional features to help traders make informed decisions. These include Trader choice, which allows you to get a glimpse of the direction trades have been placed by other traders, and Trendify, which enables users to effortlessly make use of the RSI, Moving Average and Boiling Bands.
Welcome bonus with this broker is up to 75% of the initial deposit, however, it is available to clients of BinaryOnline who deposit at least $10 000. Takeoff account holders get a welcome bonus of just 25% of their initial investment.
Methods of Payment
There are several payment methods available to BinaryOnline’ clients: wire transfer, and credit/debit card payments. The minimum withdrawal amount is $100.
BinaryOnline is a young binary options broker with rrather extensive product portfolio and nice website. However, it is not recommended, because it is not authorized to provide brokerage services. Besides, the payout amounts it offers are not the highest in the industry, while the einitial deposit it requires is not small. To sum up the above:
|Rather extensive product portfolio||Not regulated|
|Nice website with rich educational resources||Comparatively high initial deposit required|
|Payouts are not among the highest in the industry|
|Attractive bonuses available only to clients who deposit more money|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
Traders` reviews for BinaryOnline
Binary Online (now Finarix.com) online is a conned trading website!!
Yes, Is confirmed this Binary Online had changed to Finarix.com to hide themself from being caught and block from the Authorities. Please stay away from their scamming tactics and I am a victim to it. Their trading website seems very impressive but, the BIGGEST scam is you can never withdraw your money back and their keep on convincing you to increase your deposits. PLEASE BE VERY AWARE NOT TO DEPOSIT YOUR MONEY INTO THIS CONNED WEBSITE.
Binaryonline.com is now Finarix.com and is still scamming people!
Please be aware Binaryonline.com is now Finarix.com and still operating unregulated and scamming people.
Binary online is the biggest. Scam.I invested a lot of money through a broker who advised me to rather invest with algo trader because trading manually,because I was losing money.
They then registered me an account.
The profit was then going well.And then the broker I was working there suddenly was gone. They then transferred a new broker. At first we had a problem language barrier. But yet I was asked to put more money in. I refused.when I asked for a with withdrawal they froze my account immediately and even the support team I couldn’t get an answer.yet every week algo trader still sends me updates every week.I did not get anywhere responders from anyone.
I lost 1000USD
Binary is 100% scammed, i lost 1000USD,
recovery i never believed i could get my money back!!
The people working at Banc de Binary are the biggest scamster in binary options. I have learnt the hard way and lost all my savings. The best option is to learn and educate yourself. There is no easy way to make money, I was shocked when binaryoptionassetrecovery ,. Comm got my money back, to me it was a gamble that not everyone is this lucky.
Taken for every Penny
I lost ВЈ500 in only 25 minutes with their proposed investments . total scam AVOID AT ALL COSTS
Binary online is a scam. Don’t put your money to binary online you cannot withdraw your money.i have so many request of withdrawal but all declined.
Stay Away from Binaryonline, its impossible to withdraw your money.
Account ID number 309671 i have twice tried to withdraw my money and it was
Get your money back by cancel within your Credit Cards
I did sign up, traded twice guided by BinaryOnline and passed my concerns onto the support, the consequence – my access to the web portal and account has been suspended. The only way to get the money back вЂ“ I cancelled my credit card and re-called the transaction. So – no financial loss but a warning for you,
Scam – Impossible to withdraw
Impossible to withdraw any money!
My personal experience is:
BINARYONLINE IS SCAM.
I have been scam for US3000
I think I have been scam for US3000 as they are now not acknowledging my request to withdraw my account. Before I deposit the money in, I would get phone calls at least 3 to 4 times a day and with a very hustle way to get to my credit card. After the deposit is done there are issues that the website was down, the manager was away on sick leaves, promise to call but never get to call me anymore. The chat customer services only become a pacifier to the irate client. But no follow up on their side. The customer success manager has been passing my case to three different people to handle yet all three has the same tone of voice and accent.
What can I do or we do to stop this or report this scam so no more people can be conned by this people. How?
Most certainly a scam, used the names of Richard Branson and Elon Musk in a Facebook link to attract investors, I got caught unfortunately, after registering the link to their Android app would not accept my password, they have now since removed this off playstore, I was struggling to trade and they called me asking me for my user password, this got me suspicious and requested a refund and now they are not responding, prior to this their calls asking me to invest more money were nothing short of harassment
It seems to me that BinaryOnline has completed his program and has cursed all his naГЇve clients. Do you know something more? Can anybody help the deceived? Regards Zeljko
BinaryOnline clauses and poor service
Please add in this the clause, that if you deposit money and then realise, “not this is not legit (or for me. )
“The second clause of the Section 12 reads as follows:-Clients must imperatively place at least 5 transactions on the platform following their first deposit. Failure to do so will void any withdrawal requests”
Meanwhile, it is so unfortunate that you are wishing to withdraw as the Financial Market is really favorable at this point of time.
Other traders are as such collaborating actively with their Customer Success Managers and we would wish for you to walk on the sam path.
However, be advised that your Customer Success Manager will still be assisting you if you retain your decision.
Please refer to this link to place a withdrawal request:
As such, once the latter gets in touch with you, you shall be assisted accordignly?
I have written 3 emails with times and each time you have not phoned. Then at 10 am would be another option. Other than that perhaps it’s just better we leave it and I get my money back
BinaryOnline is a sketchy broker owned and operated by Zola Ltd. The address they offer on the website is Sofia 1000, ul. Pirotska No 2 fl. 4, Apt. office 12. Payment services are provided by Zolarex Ltd, located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960. They can be contacted by phone (+44 203 0260 222 – UK) or email: support(at)binaryonline.com. The brokerage is not regulated by any major financial authority.
Is BinaryOnline A Scam?
Unfortunately, BinaryOnline is not regulated and has a terrible reputation online, where a lot of people are complaining about failed withdrawals, high-pressure tactics, and misleading information. On top of that, this broker is associated with far too many scams robots and signal services for my comfort.
I don’t like calling this broker a Scam, but I also cannot recommend an unregulated brokerage that partners with scam robots and has tons of bad user reviews.
Editor’s Note – Why Doesn’t BinaryOnline Suck In 50 Words
Ahhh, stop tormenting me… I don’t know why they don’t suck. Not regulated, very bad reputation and collaborating with scam robots. What can I find that doesn’t suck about that? Yea ok, I’ll give it a shot: they offer a good platform. However, you are not doing business with the platform provider but with BinaryOnline so…
Why BinaryOnline Sucks In 50 Words
BinaryOnline is clearly in cahoots with the makers of a lot of autotrading robots because when you sign up with those “money-makers”, you are automatically directed to BinaryOnline. One such robot is HB Swiss and another is Nova App. So, does this broker suck? Yea, definitely.
Should I Open An Account With BinaryOnline?
If you got this far into this review, you can probably tell that I am not too fond of this brokerage. However, now it’s time to dig deeper and learn more about them: launched in 2020, BinaryOnline used to offer Binary Options but now only FX and CFDs. This is one of the most popular platforms, with good functionality and plenty of features but that doesn’t make the broker trustworthy.
There are plenty of educational resources on the website, including e-books and tutorial videos, but the more interesting feature is Traders TV, which delivers daily analytics in a video format is their daily analysis articles. You’ll get a brief market summary and a heads-up for the economic data that’s about to be released that day. I like that it’s updated daily (as it should) but the information contained is nothing to write home about.
Accounts with BinaryOnline start at 250 USD (Takeoff account) continue with 2,500 USD (Standard account) and for the last listed account (Premium), you will have to deposit between 10,000 USD and 49,999 USD. They also offer an Elite account but the exact deposit is not specified; I assume it has to be above 50 thousand bucks which is crazy, to say the least. Even depositing 250 bucks with this broker is crazy in my book, but what do I know… I’ve been writing broker reviews for “just” 6 years and spent only about a gazillion hours on brokers’ websites…
The internet is raging with complaints about BinaryOnline. The main issues are failed withdrawals (people can’t get their money back whether they’ve made a profit or not), the account managers are trading accounts into the ground and blame it on market volatility, and the usual pestering, never-ending phone calls – one user even said: “They call and email you till you feel totally haunted!”.
BinaryOnline Regulatory Warnings And Announcements
24/5/18: The UK Financial Conduct Authority issues warning against unregulated Zola Ltd doing business as Binaryonline.com. UK FCA Warning.
14/12/2020: The British Columbia Securities Commission warned that BinaryOnline is not registered to trade in, or advise on, securities or exchange contracts in British Columbia. The regulator also urged residents to exercise caution when dealing with unregistered firms. Source: BCSC Warning.
Bonuses start at 25% for the lowest deposit ($250) and can go as high as 75% if you deposit between $10,000 and $49,999. Be careful when accepting a bonus because your money will be tied to the platform until you perform a turnover of 30 times the bonus amount plus the deposit. Please make sure you understand all bonus conditions before accepting one.
According to their T&Cs, withdrawals can be performed through credit cards, wire transfers, and e-wallet. The minimums are 100 (for cards), 500 (for wire transfers) and 100 account units (for e-wallets). Processing time takes up to 3 business days and 21 more days may pass until you see the funds in your account. Many fees apply and on top of that, you will need to perform at least 5 trades before they allow you to withdraw.
You can trade CFDs with this brokerage but the way they describe this instrument makes me think it’s a hybrid between CFD and BO. Make sure you understand the way CFDs work on BinaryOnline before trading them. Another extra is TradeReplica, which is basically a copy trading feature.
Trading Bitcoin With BinaryOnline
Cryptocurrency trading is available but the selection of crypto assets is very limited. The crypto trading is CFDs so be warned, you are not buying and selling cryptocurrency on this platform just trading leveraged spot-positions.
User Friendliness 15/20
The website is only available in English, so they lose some friendliness points with non-English speakers. The explanation for CFDs confused me big time and the whole website is a gathering of buzzwords that are supposed to make me think about the huge profits I can make, not about risks. An Android mobile app is available but I couldn’t find one for iOS. Demo accounts are not available.
Number Of Assets And Expiry Times 14/20
Their asset basket is composed of 62 currency pairs, 17 stocks, 6 commodities, 3 indices and 2 cryptocurrencies (Bitcoin, and Ethereum). I couldn’t find all of these assets on the actual trading platform so it is unclear if all can be traded. The expiry times are varied, ranging from 60 seconds to end of day and Long Term.
Commissions, Support And Effective Return 15/20
There are quite a few fees and commissions at this brokerage: after 30 days without trading, the account will become inactive and BinaryOnline will deduct a 5% monthly fee, credit card withdrawals have a 25 USD fee plus another 10 USD processing fee and wire transfers incur a 50 USD fee. Please note that this is not a full list of fees, so please read carefully their Terms and Conditions.
Support is not so bad but the usual running around the bush did happen and some of my questions hit a wall of questions coming back from the rep. The effective return goes as high as 85% according to their homepage but real trading conditions may differ.
Deposit, Payment And Bonus 15/20
Deposits and withdrawals can be made via credit cards, wire transfers and e-wallet. They use singular, not plural so I assume they only allow transactions through one (1) e-wallet; however, they don’t specify which one. Minimum deposit is 250 and minimum withdrawal is 100 (or 450 if you use wire transfer). Withdrawals will usually go to the same source where they came from (if you deposited via CC, you will withdraw to CC). The bonus ranges from 25% to 75% and the turnover is 30 times.
Website Extras 12/20
TradeReplica is a feature that allows you to copy the trades of other clients (social trading or copy trading). However, the biggest extra is probably the huge amount of complaints against this brokerage and the fact that a lot of scam robots make you open an account with BinaryOnline.
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