|Customer service hours:|
|Deposit Bonus||As per Deposit amount - Min = 20 % Max=40%|
|First Deposit Bonus||As per Deposit amount - Min = 20 % Max=40%|
|Special Event Bonus||Not Available|
|Birthday Bonus||Not Available|
|Platform OS Compatibility||Online(Win/MAC)|
|Streaming news||Not Available|
Introduced in 2011, uBinary made a good place for itself in the Binary Options Industry. The company is headquartered in London, during its 5 years of existence uBinary definitely established itself as a broker worthy of the trust of its traders. Our uBinary Review have led us to have a closer look at several aspects of this broker. Nonetheless, even if uBinary is not regulated, their reputation in the market is good enough to dispel any doubt about their reliability. The company takes pride in offering several features which are specific to the concept of uBinary,easing the life of traders by heaps.
To start with, we logged on the Website of uBinary, we were welcomed by a nice display and the website inspires us with a nice feel-good factor. Successful stories of UBinary are put forward in a slider developing a trust between the trader and the broker. There are several pieces of information which are made available on the homepage, for example, an Economic calendar, or the top 5 traders of uBinary, a glimpse of what awaits you.
uBinary Trading platform
The platform of uBinary is generated by ParagonEX which also commands a strong reputation for crafting high-end platform for the Binary Options industry. The mobile app is available both on Android & Apple devices, which is great because it encompasses all prominent operating systems.The platform of uBinary is very friendly, we loved the human touch and the warmth displayed. We tried to have a look both from the perspective of a beginner and someone who can ascertain a good background knowledge in the binary options trading and in both cases we were pleased with the results. We have tested the platform thoroughly and did not detect any bug through the whole process, while it's also good to mention that however the platform was a bit slow when we used the 60 Seconds trading tool. But all the other trading tools worked perfectly fine.
uBinary Account types
We were delighted to see that uBinary have provided a panoply of accounts, namely, Micro Account, Mini Account, Standard Account, Gold Platinum Account to all traders. It is interesting to note that, the Platinum account offers features which are usually provided by top-notch brokers. uBinary opens the door for more traders to benefit from high-level accounts. On the contrary, a noticeable drawback was that, it is not clearly mentioned how much of investment is required to acquire the different account types. Only the minimum stake money is mentioned.
uBinary Demo Account
uBinary does not have a Demo Trading account. However a Demo account though being an important feature is not mandatory for successful trading. There are many traders who are able to do very well without going through a Demo account. uBinary is able to compensate for its wide range of information which has been made available for its traders.
Micro account: The Micro Account is a basic account which requires a minimum trade amount of $20. Bonus of up to 20 % is available, payouts start at 70%, also trading signals with an accuracy of 70 to 80 % are given. New traders are advised to start with this type of account.
Mini Account: The Mini Account requires a minimum stake of $20 with the trader being entitled to a 25% bonus. The perks attached includes an Advanced Training Guide, payouts of up to 75% amounts and free uBinary signals during a month. This account caters for the Flip option with the Buy Me Out feature.
Standard Account: Standard accounts usually stand between a basic account and more advanced ones. The Standard account requires a minimum stake of $40 for which traders get a 30% bonus. Moreover along with the Advanced Trading Guide and all the three trading tools, traders are entitled to a personal broker. Payouts amounting to 80% are available, along with free trading signals.
Gold Account: This type of account is essentially for experienced traders but notwithstanding, a minimum stake of $150 is demanded. A 40% bonus is given to holders of this type of account. Features included are the Advanced trading guide, a personal broker and no limit to uBinary trading signals. Payout will climb up to 90 %.
Platinum Account: This is the most advanced account type which is available with uBinary. Stakes are held at a minimum of $ 250, while bonuses can go up to almost $5000 This account encompasses all the features provided by uBinary along with great payouts of 95 %.
uBinary Islamic Trading Account
Despite the fact that uBinary is not restricted to any country, there is no disposition for Islamic Trading Accounts. The brokerage firm stands to gain tremendously by crafting a well designed “Riba” free account for traders of the Islamic faith.
uBinary Mobile App
In an era of technology, it is important for brokers to have a mobile app which allows traders to trade wherever they are across the world and anytime they wish. uBinary offers binary trading on both App Store and Google Play. We had a look at both platforms. The last time that the App store app was updated was on May 13, 2016, the size of the app is 13.2 MB which is very reasonable to download, while it is also compatible with a range of devices, that is iPhone, iPad and iPod Touch. We have delved into the Google Play platform as well, and have noted that the app was last updated on May 20, 2016, it sized at 16M and till date has between 1,000 - 5,000 installs. However, we have observed that some traders find difficulties using the mobile app due to the fact that it is perceived to be slow and traders can place limited number of trades at the same time.
The broker provides four different types of assets mainly Currencies, Commodities, Indices and Stocks. For example among the pair of currencies which are available, EUR/GBP, EUR/USD, GBP/JPY are the most popular ones, as far as indices are concerned, Nasdaq, Indices or S&P 500 are available among others, whereas Facebook, Apple, BMW are offered as stocks, along with a string of other stocks. It is always advised that traders start in a field where they feel at ease with and having prior background knowledge is a definite advantage.
When it comes to Payout, uBinary has very competitive payouts ranging from 70 to 95 %.
We have gone through the registration process, it's good to mention that foremost it's easy to deal with and we found no bugs, no issues and it is very straightforward. Within minutes we received emails as well, guiding us through the platform. Many brokers do not have these tutorial steps, and traders find themselves to be on their own, browsing through the educative section, trying to make sense of what they find.
We received this email instantly, it's pleasing to note that uBinary does not bombard traders with unnecessary emails but focuses on the essential.
The support centre of uBinary is in the form of Chat 24/6, Phone and Email. As far as the chat is concerned, we have tried the chat and response was not immediate, a phone number is provided as a contact point and an email address is also available. Even if the Chat experience was not particularly conclusive, we tried the phone number and after a couple of rings, we talked to an agent who was able to answer our query. The Frequently Asked Question (FAQ) was also included in the support section, which in a way is good because traders are able to get answers to their questions without having to actually contact the brokerage firm.
uBinary Special features
There are very interesting features which are very specific to uBinary and we believe that these are very strong points that the broker marks. The Flip, Buy me time, Buy me out, Chart your way, are features which are unique features offered by uBinary only..
We have explored some of them to have a better insight on how these features will actually help traders to make more successful trades. We have taken the Flip for example, when trade is not going in the way traders wanted, the direction of the trade can be reversed and the money can be closed in. The buy me time feature is another very good addition, traders are able to buy more time so that the trade turns in their favor. From what we understood of the Chart Your Way feature is that you get your very own advanced charting feature if you are in the money.
uBinary Trading tools
uBinary has crafted trading tools which match the requirements of modern trading, notably through 60 Seconds, Speed Trading, Today and Long Term. The broker skillfully uses the nuances between the various types of trading tools so that traders are able to get the best trading experience. Traders can start earning as fast as in 60 seconds, while multiple trades can be placed at the same time.
Is uBinary a scam?
uBinary is definitely not a scam, on the contrary, it offers a very conclusive trading experience. uBinary does not even remotely reflect the characteristics which are apparent for scam traders. With its high-end platform, quality features and good customer support , uBinary definitely earns its position on being on the list of respected brokers in the industry.
Our Final Opinion
We tested uBinary trading platforms and its different features. We can say that this broker is ideal for novice as well as expert traders. We particularly appreciate the $ 20 as the initial investment amount requested by the broker. This is one of the lowest in the industry. We would recommend traders to go forward with this broker as they clearly have an interest in traders’ experience with them.
The Education section of uBinary is very extensive and definitely have an interesting insight with quality information for both beginners and experienced traders. Information provided is vast, for instance, available sections are Binary Options Glossary, How to Trade, Financial Calendar, Trading Assets and FAQ. We browsed through the various educative tools offered and from a perspective of someone who has very limited knowledge in binary options, we were able to effectively find our way around. Notwithstanding we noticed that Webinars are not available, traders need to make the small extra effort to browse online to find videos which will answer their questions in a more visual aspect. All the information which beginners need has been made available.
Binary Options Glossary
The Binary Options Glossary is a list of terms which are frequently used in the Binary Options Industry. This is highly beneficial to beginners who want to understand the core concept of this type of trading.How to trade?
Again this is primarily focussed on traders who just started to trade with Binary options, this section essentially explain the process for traders.Financial Calendar
The financial calendar is updated numerous times during the day, traders with mainly a sound background knowledge of the market can certainly make the most out of it.Trading Assets
This section gives an overview of the types of assets which is offered, unlike an Asset Index, there is a lot of interesting information that we have been able to gather from the list.
Traders will not be left on their own with uBinary. This broker offers a wide range of learning materials destined to give knowledge its traders. So, you better get started with your uBinary account.
uBinary accepts most major credit card companies throughout the world, hence traders do not face issues in finding a method to deposit funds in their accounts. On another note,we have observed that uBinary does not specifically mention which Credit Card is actually accepted.We used Wire Transfer, Neteller and Skrill are offered as means to deposit funds.uBinary withdrawals
It was a pleasure to go through the Withdrawal process of uBinary, we always have apprehensions when we come to this aspect, but we were thrilled to see how easy we went through the process. uBinary respect international policies to make sure that the funds which are withdrawn are sent to the right person. It was pleasing to observe that there is a range of protection which has been put in place for the security of funds, which is of primordial importance for companies dealing with money directly. In line with the need to have a good screening process, there are several documents which were requested to us when we tried to make a withdrawal.
- Passport or any valid identity card,
- A recent utility bill which is not more than 3 months old from the residency address of the trader and a copy of the Credit/Debit card which is being used.
It is important to note that when the copy of the Credit/Debit card is sent, all the details on the card needs to be blurred except for the last 4 digits of the card number, the expiration date and the CVV code at the back of the card. The Brokerage firm accepts document copies through its compliance email.
Enough said, if you don’t have your account yet, deposit with uBinary. Their transfer methods are among the most reliable and secured for an unregulated broker.
uBinary constantly offers promotions and bonuses to the benefit of its traders, being a trader at uBinary you need to expect being surprised by promotions and bonuses. The current promotion is a bonus of 30% while opening an account, up to $ 5,000 are offered.Ubinary has also enable a promotion scheme where you can invite a friend to trade. The invite feature is a nice reward which is given to users of uBinary. $100 reward is offered on each invite and the best part is that there is no limit, hence the more you bring, the merrier it is.