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Binary Xchange Broker Review
Every client who opens a live trading account with Binary Xchange can benefit from an optional welcome bonus, and high volume traders can look forward to opening a VIP account with extra benefits and perks. The trading software offered by this broker is cutting edge and easy to access while there are several ways of contact the customer support team. The lack of asset choices lets their broker down however, since there are only around 60 to choose from.
Bonuses – 70%
Software – 90%
Customer Support – 85%
Options Choice – 40%
Good quality broker
Summary : Trusted broker
As a modern broker that offers trading across foreign currencies, stocks, indices and commodities, Binary Xchange aim to address the needs of investors at all levels of experience by offering a selection of different account types to accommodate both novices and professional traders. This broker also offers educational resources to help traders to maximise their profits and features such as trading signals and social trading to improve the client’s trading experience.
Established as recently as 2020, Binary Xchange is owned by the Zurix Corporation Ltd and is based in the Marshall Islands. This broker offers potential returns of up to 91% per trade and has over 25,000 registered clients on its site. There are four different option types to choose from and around 60 trading instruments to select. Although this broker is not licensed or regulated by a recognised body, it does ensure the safety of clients’ funds and personal information through strong site-wide encryption and by having strict compliance procedures. Also, all client funds are kept in segregated accounts, so that they are well protected in the event of a financial crisis.
Binary XChange offers around 60 assets for traders to select from.
Their list of assets includes:
Bonuses & VIP Programs
Every client that opens a trading account with Binary Xchange can benefit from a welcome bonus of an undisclosed amount, although it may be up to 100% of the client’s deposit depending on circumstances and the account level opened. There is a minimum trading volume requirement of 40 times the bonus amount in order to withdraw any profits. There is also a VIP trading account offered by this broker which allows clients with the highest trading volumes to enjoy added benefits and perks. For a minimum deposit of $50,000, clients can enjoy benefits such as personalised fundamental and technical analysis, weekly and daily trading sessions, a personalised portfolio structure, customised trading conditions and 1 to 1 training.
The Binary Xchange trading platform, like most others offered by binary options brokers today, is entirely web based meaning that clients are not required to download any software or to install memory intensive programmes onto their laptop or PC. Instead, clients can use any internet enabled device to access their trading account, to check assets and to execute trades as well as enjoying complete functionality across all of the educational resources and customer support options. This allows clients the convenience of trading at any time and from anywhere in the world using n Android smartphone, iPhone, iPad or tablet. Unfortunately, this broker does not appear to offer a mobile app to facilitate trading from mobile devices on the go.
Deposits and Withdrawals
There are only two methods by which Binary Xchange’s clients can pay funds into their trading account or withdraw any profits. These are:
- Credit Card (Visa, MasterCard, Visa Electron, Maestro)
- Bank wire transfer
Unfortunately, no e-Wallet methods are available.
Top Binary Options Broker 2020!
Best For Beginners!
Free Trading Education!
Free Demo Account!
Get Your Sign-Up Bonus Now:
Only For Experienced Traders.
The minimum amount which can be deposited into a Binary Xchange account is $250 (or the equivalent) through a credit card or $1000 via bank wire transfer. The maximum amount which can be deposited via credit card is $5000.
Depositing funds into a Binary Xchange account is very simple through the website and accounts can be opened in any one of 3 currencies including:
Once a base currency has been chosen, it is not possible to switch to a different one at a later date. Other local currencies are also accepted for the convenience of clients from around the world.
It is quick and easy to request a withdrawal through the website however there is a minimal withdrawal limit of $100 and all withdrawals must be made via the method through which the initial deposit was received. There is a fee of 4% levied on all withdrawals made by credit or debit card via CardPay and of 5% on all withdrawals made by card via OrangePay.
There are several methods through which clients can contact the Binary Xchange customer support centre. These include:
- Live Chat
- Telephone helplines (3 telephone numbers are provided to contact the teams in Australia, Spain and the UK directly.)
- Web Form
The website is available in four languages, English, Spanish, Russian and German.
Extra Features and Resources
Providing educational resources is becoming more common among binary options brokers in the marketplace today and Binary Xchange offer their clients a range of educational materials which can be accessed free of charge by clients in order to widen their skills and deepen their knowledge of investment. There are video courses, articles and ebooks to choose from aimed at clients of all levels of experience. One to one training sessions are also available to higher level clients. Some of the other features which are available to clients include the opportunity to try social trading, robot trading and trading signals.
Binary Xchange has quite a lot to offer its potential clients, however it is also important to bear in mind that there are several negative points too.
- Cutting edge trading software that is suitable for use by both experienced and novice traders
- 100% online trading interface requiring no installations or downloads
- Instant customer support via the live chat facility
- Choice of customer service contact methods including emails, live chat and telephone helplines
- Multilingual website
- Multilingual phone support
- Free educational resources
- Several account types to suit the needs of traders at all levels of experience
- Strong SSL encryption site wide
- Choice of base account currencies
- VIP accounts for high volume traders
- Trading signals
- Social trading opportunities
- Robot trading
- Returns of up to 91% per trade
- Bonuses offered to all clients on registration
- No e-Wallet deposit or withdrawal options
- Not regulated or licensed by any recognised authority
- No mobile trading app
Can I be sure that my personal and financial information is safe with Binary Xchange?
If you are concerned that the fact that Binary Xchange is not licensed or regulated and therefore may not be a safe choice, you can rest assured that your information is in safe hands. All client funds are held in segregated accounts to protect against any unforeseen financial crisis, and strict compliance procedures must be adhered to in order to deposit or withdraw funds for extra client security. Since the entire website is also protected by strong SSL encryption, clients can be sure that their money will be secure.
Which currencies does Binary Xchange offer as a base account currency?
When you open a trading account with Binary Xchange you must select which base currency you want for your account. You can choose from either US Dollars, Pounds Sterling or Euros, however you need to be certain in your decision as you cannot then later change your mind and swap to a different currency.
Can I use any e-Wallets to make a deposit or a withdrawal with Binary Xchange?
At the moment, Binary Xchange only seem to offer credit or debit cards or bank wire transfers as their options for depositing or withdrawing funds. At the present time there do not appear to be any e-Wallet methods available to choose.
Does Binary Xchange offer social trading opportunities?
Social trading is a great way for less experienced investors to make a profit by following the trades of more experienced and professional investors. Clients can use the social trading facility offered by Binary Xchange to find profitable investments and to maximise their chances of success. This helpful tool is also useful for aiding novice investors to gain greater experience in the markets and to learn valuable trading strategies that they can then add to their repertoire of skills.
Broker Review: Binary Xchange
Summary: This brokerage is one of the lesser known options in this market, but that doesn’t mean that it isn’t viable.
Built to cater to seasoned investors, or traders with newfound interest in the binary options market, the Binary Xchange broker wants to give traders an opportunity to grow their accounts with their platform. Offering 5 risk-free trades to new clients, the founders of this brokerage offer tailored education, tools, advanced technology and some of the highest returns in the market.
Owned and operated by Eldord Impex LP, this broker is located at 272, Bath Street, Glasgow, Scotland, G2 4JR, United Kingdom. Traders can get in touch with support, via phone at +44 2031502028 (UK), +61 283109754 (Australia), and +34911239924 (Spain). There is also an email address, which is written on the website as [email protected], but I believe this is a typo, and that the actual address is [email protected]. I plan on emailing the brokerage and telling them that this is an issue. If you’re having trouble with the email address, there is also a contact form that you can fill out as well.
Binary Xchange Review
The Binary Xchange landing page puts forth their process in a very simple way to manage. They tell traders that all I have to do is register, deposit and they can start investing and placing trades within under an hour. I appreciate how seamless this process is, but don’t let it fool you into think that manually trading is going to be simple without some sort of experience. This is why I rely on different binary options trading systems to provide me with signals, and inform my decisions.
Offering currencies, commodities, stocks and indices, there are many different ways to trade with this platform on multiple devices.
In this review, I’ll be taking a closer look at the statistics they provide, and the different tools and binary options education that they provide. The creators of this broker promise that they can help “manage and preserve your wealth with all the support you can get from our team of experts.”
- Type: Options Broker
- Founded: 2020
- Location: Scotland
- Platform: Web-based, Mobile
- Payouts: Up to 91%
- Minimum Deposit: $250
- Minimum Trade: $25
The one fact in the details section that I find the most interesting, is that the Binary Xchange broker requires traders to place a minimum trade size of $25. As much as the creators of this broker want to put forth the idea that it is accessible to all types of traders, I would argue that a minimum trade value of $25 contradicts this. I say that, because $25 is a pretty large trade size to start out with, and it’s my belief that beginners should start placing trades around the $5 size when they are first starting out, to limit risk.
Most other binary options brokers that I’ve been reviewing recently do have lower minimum trade values, like Tudor Trade , Olymp Trade and Binary Cent .
When signing up with the Binary Xchange broker, traders have 4 different options to choose from, mini, standard, gold and vip. Each of these accounts provide traders with different features, and require different minimum deposits.
With the mini account, traders have to deposit $250 which comes with basic customer service, the mobile application, trading signals and a few other features as well. When upgrading to the standard account which requires a $2500 deposit, traders get access to advanced video courses, advanced e-books, a binary options strategy video course and a few other tools to help traders win more trades. The gold account, which requires a deposit of $5000, essentially offers everything that the standard account does, alongside some basic one-on-one training. Finally, the $50,000 deposit VIP account comes with personalized trading sessions, technical analysis, fundamental analysis and a personalized portfolio structure.
From research done on many different trading forums like Binary Options That Suck , and Binary Options Edge , I’ve found that most traders find very little value in brokerage offers. Generally, it’s preferred to sign up with the basic account, because all of the bells and whistles aren’t worth the extra deposit.
For the most part, I like what I see on the Binary Xchange website, in terms of professionalism, and how they are approaching new clients. Off the website, there doesn’t seem to be any real negativity, but there also aren’t many client reviews at all. Considering the creators of this brokerage claim that they currently have over 25,000 traders utilizing their platform, you’d think that there would be more clients online leaving reviews. This is really the only aspect that influences some skepticism into my point of view.
Please let me know what you think about this brokerage, by leaving a comment below the article with your experiences and thoughts.
7 Binary Options
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Binary Xcahnge has shut down their operations in binary options trading.
We recommend choosing one of our top binary option brokers instead:
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Try also Binary Option Robot if you are looking for automated binary trading.
As usual our team performs a comprehensive market research to identify new upcoming and promising online brokers. This time we have come across a Binary Options broker that has set its sights on revolutionizing the Binary Options industry.Our exhaustive research has led us to Binary Xchange that offers an extensive list of benefits, tools and features for the savvy investors as well as beginner traders to get on the road of success.
Besides giving access to the complete array of instruments ranging from Indices to Stocks, Currency Pairs and Commodities, Binary Xchange also offers an attractive return of investment for both your classic, long term options and for the fast pace investor who is in favour of turbo (short expiry) options.
In addition to the above, Binary Xchange’s unique offers are: Social Trading, Automated Robot Trading, Trading Signals (indicator based), Live Trading Signals (provided by 3rd party professional market analysts), all of this is accompanied by a wealth of educational materials and extensive live market research all at one place, all at Binary Xchange.
What really sets this broker apart from the others is the drive for perfection and the paramount professionalism they can offer through their 50+ years of shared management experience in the banking, corporate finance, retail and B2B business sectors. To succeed and set new disruptive industry standards, you have to be doing something right and this is exactly what Binary Xchange professionals do.
Online Since: 2020
– Robot Trading
– Does not accept clients from US.
How to Start
If you are an experienced investor feel free to skip this paragraph nevertheless if trading is something new to you and you are not certain on how to start, this may be exactly the info you are looking for.
Many of the new traders are keen to get themselves involved in the financial markets, nevertheless are not sure how to make that very first step. Starting process may vary on several occasions, nevertheless below we have presented the most popular so called “standard” procedure on how to get started with Binary Xchange:
Binary Xchange offers a variety of account types suiting the novice traders as well as savvy investors. The account types provided to each client depend on the deposit amount funded hence with larger capital investors increase offering added benefits.
The “Mini Account” is usually selected as a temporary account by beginners trying to learn the ropes of trading. The “Mini” can be obtained with a deposit as small as $250 up to $1499. Although this package offers the basics, some benefits in terms of education and trading assistance are also available. In most of the cases traders upgrade their accounts to “Standard” or “Gold” accounts accordingly.
The “Standard Account” is suited for novice and experienced Binary Options traders seeking to receive full service including a personal account manager to help guide them through the exciting world of financial markets. This account can be obtained with a deposit of $1500 and up to $4999. Additional benefits include advanced educational materials, robot and social trading and most importantly you get a personal dedicated account manager.
The “Gold Account” is the most popular account type which is best fitted for traders with high expectations. Receive the highest quality service and one on one training from Binary Xchange by obtaining the “Gold Account”. This level can be secured with the investments ranging from $5000 up to $9999. Some of the most important benefits of having “Gold Account” include 1 on 1 training, weekly trading sessions and a personal dedicated account manager to guide you though money, trading and risk management.
The VIP accounts is a favourite choice amongst the professional traders seeking high returns and an unprecedented level of service and support. The “VIP Account” is available with a $10.000 investment and above, and has a wide range of benefits including daily trading sessions with personal account manager, personalised portfolio structure, custom trading conditions, advanced 1 on 1 training sessions, professional trading signals, traders psychology lessons, dedicated personal account manager and many more.
Broad education is a key to success. Trading in the financial markets is jut as much about knowledge and preparation as it is about excitement and reward. Without the former the latter cannot be achieved.
Binary Xchange has put together a diverse collection of educational materials to equip traders with the tools they need to expand the knowledge and build trading experience. You can get yourself acquainted with the way the markets work and start trading successfully in no time.
Binary Xchange Education Center shall present to you valuable tools such as:
Market Research Center
There is no need to be crawling multiple complicated websites to follow the latest news or market reviews. You can now benefit from a sophisticated Binary Xchange Market Research Center in one place and never miss an opportunity to successfully trade again.
Binary Xchange strives to ensure that you never miss a trading opportunity and make sure that you know how to act and react when the market is at the right point to make an investment. In collaboration with world’s leading, top-tier signal providers Binary Xchange presents its customer the “automated indicator based trading signals” and “3rd party professional financial markets analyst trading signals”, all of this completely free of charge only with Binary Xchange.
What is a trading signal?
Trading signal is a sign or a suggestion for executing the trade at a specific time and price. Trading signals can be generated by an automated system based on technical analysis or a human analyst or combination of both.
Social trading introduces a new way of analysing financial data by providing a ground to compare and copy trades, techniques and strategies.
Social trading has revolutionised the way people trade these days. It is the newest method of trading which allows the investor to analyse other strategies used by different investors (based on historical and live performance) in order to maximise their profit potential and follow/copy their trades automatically.
Furthermore it helps novice traders to gain valuable experience by copying trades of successful traders. It is a fundamental and invaluable practice for the correct decision-making in trading which shortens the learning curve while maintaining profits.
Robot or algorithmic trading is a modern alternative to manual trading. Such trading presents investors with a significant opportunity to maximise their trading potential by grasping right trading momentums with speed, accuracy and convenience.
Robot trading is based on a computer program generating trade signals in today’s Binary Option market and placing “Put” or “Call” orders depending on the given market opportunities completely autonomously.
Have in mind that robot trading can be fully automated or alternatively it can run in combination with manual trading up to user’s preference.
Dedicated Account Manager
As it was mentioned above, Binary Xchange really puts its efforts in the customer service. A client is being assigned to a dedicated professional account manager who makes sure that the investment journey of a client is always pleasant. Tailored care and approach includes and is not limited to answering any technical questions, structuring investment plans, preparing dedicated and custom market reviews, etc.
Promotions and Bonuses
Contact Binary Xchange for the updates on ongoing bonuses and promotions. At the moment Binary Xchange offers the following:
Customer Service: Phone, Email, Live Chat
7 Binary Options review: Binary Xchange: 5 stars.
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