Binarex Broker Review

Binarex is a binary exchange model that does not provide its customers with any bonuses or VIP programs, but it does provide remarkable, user-friendly, cutting-edge trading software that can be utilized on both desktop PCs and mobile devices because it is a 100% web-based trading platform. There are numerous ways to contact their customer care services around-the-clock, including the practical live chat option, but there are only about 27 underlying assets available for trading throughout the classes of commodities, currencies, stocks, and indices.

Intro

Binarex operates more like a binary exchange than a conventional broker. This business was established to increase industry transparency and assist traders in getting the greatest execution on their exchanging trading platform. The Binarex platform offers a comparable experience to that found at a global stock exchange and is built to do away with the requirement for a middleman. They offer a selection of financial instruments that allow traders a predetermined level of risk and profit. Investors pay a premium to open a position on a binary exchange, and this fee represents the value of the contract. The client is already informed of the maximum profit or loss they could incur prior to joining the market with a binary exchange transaction.

Organizational Data

Instead of being a regular broker, Binarex is a relatively new binary options exchange. They are situated in Vanuatu and were created by Tradologic and owned by Finex Securities Ltd. This company is not currently governed or licensed by any recognized body or authority, but they have applied for a license with CySEC, which is now being reviewed and is anticipated to be approved soon. Long-term, they are also thinking about getting a CFTC license in the USA. This broker appears trustworthy and protects the personal information and financial transactions of its clients on its entire website with strong 128 bit SSL encryption.

The model of exchange trading

With the firm’s new exchange traded binary options, traders can get better quotes and prices (and consequently returns), and brokers will still make money whether a client loses money or gains it. A commission fee calculated on a percentage basis would be charged by an exchange platform to traders, who would subsequently profit from the losing trade on the other side of their transaction. These procedures replicate the exchanges used in the foreign exchange trading sector, though some businesses have already begun to transition away from market maker models and toward more straight-through processing models, which route customer trades through the over-the-counter foreign exchange market. The corporation wants to allay regulators’ and traders’ concerns. Exchange-traded binary products are being used by American retail traders thanks to firms like Cantor Exchange and Nadex, whose operations are overseen by the US Commodity Futures Trading Commission (CFTC).

Regulation of Binarex According to Michael Golod, CEO of Tradologic, Binarex is a workable business model that offers clear and transparent terms for all stakeholders. Through regulator inspections and extensive discussion, this approach has come under close scrutiny. His business has been well received and is still in discussions with a number of financial regulators inside and outside the European Union. He is told by many of these regulators that he can anticipate encountering a considerably friendlier regulatory environment.

Through an agreement that was approved by the Exchange Commission earlier in the year, the company’s partnership with Cantor Exchange permitted their white labels access to the American market. The Finance Magnates London Summit, which takes place at The Brewery on November 14 and 15, is where Tradologic plans to introduce this idea. With regard to this new service, Binaryoptions.co.uk will be present to gather all the information.

Success in any exchange trade will be based on how liquid the market is. Low volume may result in deals not being matched or trades with low value. With a company like Tradologic engaged, there should be plenty of liquidity, providing traders a strong chance to close the deals they want. The volume should increase along with the platform.

Assets at Hand

Only 27 trading assets total, including 10 each for currencies, 9 each for stocks, 3 each for commodities, and 5 each for indices, are available on Binarex.

There is no proof that Binarex provides benefits to customers, whether they are already customers or new ones, or any kind of VIP program for traders that trade a lot.

An easy-to-use, entirely internet-based trading interface provided by Mobile Binarex enables quick trade execution without the need for memory-intensive software downloads or installations. Additionally, it means that traders are not restricted to their personal computers and may access their trading accounts and execute transactions using any internet-enabled device from anywhere in the world at any time.

Cash in and cash out

By simply selecting the Funding option within the Binarex trading platform, you can quickly and conveniently deposit money into a Binarex account. The following payment methods are available for clients to select from:

• Cards credit

• Electronic wallets;

Clients can start trading right away because secure payments are completed swiftly. The minimum amount that may be deposited into a trading account is $250, and all payments are secured using SSL encryption. $10,000 is the maximum amount that can be spent in a single transaction. By selecting the Withdrawal tab on the financing page, it is simple to withdraw money. Customers only need to select how much money they want to withdraw and how they want to be paid. Any additional funds will be transferred to the client by bank transfer; credit card withdrawals are only permitted up to the initial deposit amount.

Customer Service

To answer questions and address any problems that may arise, you can get in touch with the Binarex customer support team via a variety of channels, including the phone, web form, email, and live chat.

The website is available in three languages—Chinese, Japanese, and English—and support is offered round-the-clock.

Additional Resources and Features

With the exception of a glossary that defines all of the important trading words that novice investors are likely to come across when entering the binary exchange market, Binarex does not appear to provide any free educational materials to its customers.

Verdict

There are a number of benefits to take into account when picking Binarex as your chosen binary options broker, but there are some drawbacks as well:

Pros

Both expert and inexperienced traders can use the cutting-edge trading software. The 100% online trading interface doesn’t require any downloads or installs. The website is multilingual. Strong SSL encryption is used. e-Wallet payment options are offered.

• 24-hour client service

• Live chat help option

• Unusual binary exchange concept for more fairness and transparency

Cons

No current licensing or regulation (although one has been requested), and no free educational resources are available.

Each trade is subject to commissions, there are few trading options for assets, and there is no specific mobile app.

FAQ

Can I use my mobile device to trade on Binarex?

Companies like Binarex are mobile-optimizing their platforms to ensure that they offer seamless access to trading accounts and trade executions from any internet-enabled device through the provision of a 100% web-based platform as more traders choose to execute trades from their mobile devices like smartphones and tablets on a regular basis. You can use the online trading interface on any Android or iOS smartphone from anywhere in the world because no software needs to be downloaded or installed.

Is there a fee to sign up with Binarex?

The client does not pay anything to register with Binarex, and there are no additional fees or expenditures to be concerned about.

Binarex: Is it a safe website?

Binarex is currently waiting for CySEC to approve its licensing application before it can start operating as a licensed and regulated broker. Binarex offers strong 128 bit SSL encryption across its website to protect its customers, ensuring the confidentiality of their personal and financial information.

Does Binarex provide resources for education?

Despite the fact that Binarex does not provide any educational materials, such as ebooks or video tutorials, it does provide a glossary and Frequently Asked Questions section that can be very helpful to new traders in learning more about the terms commonly used in binary options trading and in finding more information on the most frequently asked questions about investing.

What is the commission rate for this broker?

A commission of $1.50 is assessed when trading with Binarex for opening a trade, maintaining a trade before it expires, or if your trade is profitable upon expiration. If the deal is in the red when it expires, there is no fee. The fees charged by Binarex are among of the lowest in the binary options market, and if you fill your new account with a minimum of $500, you won’t have to pay any fees for the first few days of trading.

How do I sign up for Binarex?

Registering with this broker is quick and easy. On their webpage, there is a brief sign-up form that you can fill out quickly and easily with your information. The registration process for this broker’s services only takes a few minutes, and accounts are accessible round-the-clock. You can make your initial deposit and start trading as soon as your account is approved.

Can I trade with Binarex using an e-Wallet as a payment method?

Binarex has come to the realization that a lot of contemporary traders prefer to have a wide range of banking options at their disposal for making deposits and withdrawals. They have consequently made available a variety of practical payment choices for the benefit of their customers, including more recent online options like e-Wallets as well as more established ones like bank wire transfers, credit and debit cards, and classic options like bank wire transfers.

Can I get in touch with Binarex right away if I need something?

For the benefit of their customers, the Binarex customer service team is ready 24/7 to address any problems and provide guidance. Customers can get in touch with customer service professionals via phone, email, or even a web form on the broker’s website. For immediate assistance, live chat is also an option.