|Customer service hours:||24/7|
|Deposit Bonus||As per Deposit amount - Min = 25% Max=100%|
|First Deposit Bonus||As per Deposit amount - Min = 25% Max=100%|
|Special Event Bonus||Available|
|Birthday Bonus||Not Available|
|Platform OS Compatibility||Windows & Mac OS|
|Trading Platform Type
(SpotOption, Panda etc)
BinaryBook is far from being the first operating brokerage firm in the industry. However, it managed to figure among the leading brokers in the world of binary options within only a few years. This is a non negligible feat in this industry which counts hundreds of new binary options brokers every year.
Made public in 2013 by WSB Investment Ltd, BinaryBook is not a regulated broker. However, not being regulated has not been a handicap for this company which seems to constantly strive to deliver top-notch services to its traders with a high level of professionalism.
BinaryBook caught our attention due to its dominant presence online, this is why we decided to dissect every feature this broker made available. After reading this BinaryBook review, you will be able to determine whether this broker is worth your time or not. Let’s hop in.
BinaryBook Trading Platform
At first sight, BinaryBook seems to be like any other random broker operating online. Its website is very clean and all the elements are displayed in such a way that traders do not feel lost when they first navigate on the trading platform.
In addition, the platform loaded in the blink of an eye. We were impressed by the rapidity of this website.
In terms of interface, the trading platform is as flexible as a gymnast and allows traders to choose the language they feel the most at ease with. On the menu of languages there are English, Arabic and Turkish. However, BinaryBook did not make a French version of its website which is quite a shame since French is a popular language.
Besides choosing their preferred language, traders can also select how they want to view the trading platform. Situated on the right hand side of the trading platform, there are four small buttons which give traders the opportunity to decide upon the display of their trading platform. That is, they can opt for the basic view, the view in list, the compact view and the large view.
In addition, BinaryBook makes use of the second generation of SpotOption trading platform. There is no originality in using this layout as this kind of trading platform is the most widespread in the industry. However, the good point is that traders will find it very familiar to use. Even beginners will not be left on the tile as this trading platform is very user-friendly and simple to make use of.
BinaryBook allows traders to trade on 8 different trading tools each having different trading requirements.
- Classic Binary Options. - Pairs trading. - Turbo Trading. - One Touch trading. - Long Term. - Ladder trading. - FX/CFD. - Spot Follow.
Trader Choice is an increasingly popular feature we came across on different trading platforms, irrespective of the what brokers are actually using as platform. Even if it was launched 3 years ago, it is nice to see that BinaryBook is still up to date in terms of the trending features in the industry.
BinaryBook Mobile Trading
BinaryBook does not have a mobile version of its trading platform and does not require one since it has a mobile application. Available on both Google Play Store and App Store, you will be delighted to learn that the mobile application of BinaryBook is way lighter than CandyCrush.
Therefore, if you are worried about your phone’s memory, you don’t have to anymore. BinaryBook’s mobile app does not exceed 30MB and is very rapid to download.
Moreover, this mobile app procures the same professional feel that we had on its trading platform. It is user friendly to use and it immediately synchronises with the website’s trading platform. That is, as we launched the mobile application, we could immediately access the trading account we opened some hours earlier.
Another point to highlight is that the mobile application of BinaryBook contains all the features present on the platform. It’s like a pocket version of its actual trading platform containing all the important elements which help the trader to have a good trading experience.
BinaryBook Social Trading
Another good point for BinaryBook, is its social trading feature known as Spot Follow. Providing a Social Trading feature is a must today, as binary options trading is not presented as a lonely hobby anymore. Traders tend to look for a community trading experience where trades are copied and where experiences are shared.
Spot Follow is very easy to use, traders only have to follow the leading traders with the highest success rate. Once followed, the trader will copy all the trades the successful trader is placing even if these trades are losing ones. This is why choosing a successful trader should be a well thought decision.
Furthermore, it is to note that traders are given the chance to follow as many successful traders as they want. There is absolutely no limit and in case they don’t want to follow a trader anymore, they can break up with the later only with a small click on the unfollow button.
BinaryBook Account Types
This online brokerage firm offers six different types of accounts and each of them carries different benefits. Let’s have a closer look at these types of trading accounts.
The Micro Account.
As its name suggest, this is really a Micro Account for small budgets. For a minimum deposit of $250, traders are given access to the educational section of BinaryBook and are given a micro welcome bonus of 20%.
The Basic Account.
If you want to start trading with BinaryBook, this is the type of account you should start with due to the many benefits it holds. Obtained as from, $501 this account offers a decent welcome bonus of 50%. Furthermore, traders opting for the Basic Account are eligible to attend the webinars.
The Gold Account.
The Gold Account of BinaryBook can be accessed with a minimum investment of $2501, this account which requires a heavy investment also carries a bunch of appealing benefits. Among the list, we can find a welcome bonus of 75%, private trading sessions with an expert trader and many other.
The Platinum Account.
In order to have a Platinum Account, traders should invest a minimum amount of $10 001 in their trading account. This type of account is one of the most expensive of the trading platform. For this reason, when traders open a Platinum Account, they are given a welcome bonus of 100% and 2 months free trading signals among the other benefits obtained.
Unfortunately, we did not find any information giving a clue about the benefits VIP account holders get. The initial investment for this type of account is $50 000+, for this investment amount, customers are required to directly get in touch with BinaryBook so that they have the VIP treatment.
Islamic Trading Account.
This small attention is destined to traders of Islamic faith. This trading account is fully compliant with Sharia law and excludes Riba.
Like all the leading brokers of the industry, BinaryBook made four categories of trading assets available. Therefore on the trading platform, traders will have the possibility to trade with Stocks, Indices, Commodities and Currencies.
Even if this broker provides a relatively large array of assets to trade on, the information pertaining to each asset is very limited on BinaryBook’s website. The page dedicated to the explanations of assets was good but fail to quench our first of knowledge. However, it is important to mention that the Asset Index page is very useful.
BinaryBook Special features
BinaryBook demarks itself with the innovative features it offers to traders. These exceptional features aiming to enhance the trading experience of traders comprise of the Trend Analyzer, the Double-Up and the Rollover.
Situated at the left hand side of BinaryBook’s trading platform, the Trend Analyzer is a free feature used as an advanced trading calculator. This tool helps traders to calculate the tendencies of assets by making use of three different technical tools, namely the Moving Average, the Relative Strength indicator and the Bollinger Bands.
Quite easy to use, the Double-Up is situated in the Open positions window at the bottom of the trading platform. This feature gives traders the opportunity to double their return on investment before a trade is closed. The Rollover helps traders to extend the expiry time of an opened position.
BinaryBook ensures that the personal details of the later remain strictly confidential by saving all the information collected within the most secure database.
In fact, the data of all traders undergo HTTP secure web protocols in order to prevent any fraudulent activities. Furthermore, the platform is PCI approved and certified. The funds of clients are kept in segregated accounts to ensure a maximum level of security.
BinaryBook Customer Support
The customer support of BinaryBook is available 24/7 and can be reached through the phone, by email and through a live chat. Furthermore, it is available for all its traders irrespective of the type of account they chose.
In order to have an objective opinion of the customer support department of BinaryBook, we decided to test it. Even if it took approximately 10 minutes to the support agent to reply to a simple “hello�?, overall the answers received were satisfying and most important of all, they were not automated.
Is BinaryBook a scam?
No, BinaryBook is not a scam. However, according to some reviews we found on the internet, it seems that some of you think that it is. Unfortunately, after testing this trading platform we cannot reach the same conclusion. From our opinion, even if there is still room for improvement, the services provided by this broker are genuine and are of a good standard.
BinaryBook offers a bunch of innovative services which are very interesting. Our conclusion is that this broker was worth our time. Hats off to BinaryBook which survived in the binary options industry during the three past years and which is still going strong without being regulated.
As Benjamin Franklin once said, an investment in knowledge pays the best interest. This is why the educational section of a broker is the first feature that you should check before opening an account with it.
BinaryBook named its educational section the Trading Camp, implying that traders should be well versed with binary options trading after passing through this section. The Trading Camp of BinaryBook is separated into two distinct sections which are the Beginners section and the Advanced one.
Aiming at enriching the trading skills and knowledge of traders, both sections are further separated into small videos. However, if you want to access all the videos, you have to first of all open an account with BinaryBook, as the videos are only reserved to members of the trading platform. In addition, traders will also have access to ebooks and other resourceful learning materials when they sign up with BinaryBook.
The Trading Camp of BinaryBook contains much valuable information but we had a preference for the Daily Market Analysis reports produced by the broker on a daily basis. These reports contain wealth of information pertaining to the four types of assets which we used to leverage our trades.
BinaryBook’s education section is like having a hearty meal in a good restaurant. The Trading Camp acts as the appetizer. Followed by the Daily Market Analysis section which is the main course. Finally to finish off, traders will have the webinars as dessert which will without any doubts add taste to their educational tour.
Like for all brokers, in order to have a deeper understanding of the services offered, we decided to open an account with BinaryBook. We chose the Micro for a minimum amount of $250 and were happy to receive the micro bonus of 20%.
Even if the deposit of funds went smoothly, the deposit methods proposed were very limited compared to other brokers. We opted for the credit card method and did not encounter any problems during the whole process.
We also noticed a discrepancy regarding the deposit amount allowed for credit card. The Deposit page states that the maximum deposit amount allowed with credit card is of $20 000. However, the VIP account type available on BinaryBook is available for a minimum investment of $50 000. Therefore, traders willing to have a VIP account will not have the possibility to deposit this huge amount with their credit cards.
Concerning the withdrawal procedure, even if it was very slow, we did receive the amount asked for after one week. The minimum withdrawal amount is $100 and the withdrawal request is approved only after an authentication of the trading account. This process is long so as to prevent fraudulent behaviours.
Since it launched 3 years ago, BinaryBook never ceased to spoil its traders with several promotions and bonuses. Below you will find the different promotional activities made available by this broker which seems to be very generous.
BinaryBook offers a traditional welcome bonus on a minimum deposit of $250. This bonus is received as soon as the first deposit is effectuated.
Besides, BinaryBook never misses the opportunity to be generous with its traders. This is why the brokerage firm always has something crafted during seasonal events such as Valentine’s day and Freedom day. These special events give traders the opportunities to win risk free trades, bonuses and many other benefits.
In addition, BinaryBook uses to host a Christmas Competition every year. Traders participating in this competition can win cash prizes up to $20 000. What a good way to finish the year!