365 Binary Options Review
Binary options trading has hit the trading scene in a big way since it first went into mainstream use back in 2009. The only problem, as with any popular trend, is that a lot of people are now jumping on the bandwagon and offering their services as brokers for binary options trading. While more choice is always a good thing, it’s also very easy to become overwhelmed with just how many choices there are available on the market.
This is especially true for binary options brokers. Because of the fact that this method of trading is so new, less than ten years old, it’s impossible to find an “old” established trader. All the traders are less than ten years old in age as well. On top of that, there are different brokers with different services located in different countries, so which one is right for you?
365 Binary Options is another of the trading services that has opened up in recent years. How does it stack up? Let’s find out.
New To The Scene
365 Binary Options began operations in 2014, so while it’s far from being the youngest broker on the Internet, it’s still a pretty recent newcomer, comparatively speaking. However, the service is based in the British Virgin Islands, with offices in London, Singapore, Canada and other countries. The broker comes complete with contact details, and, perhaps most interestingly, this service comes not from finance but from technology. The owners of the service, Fintech, are a software company, which makes some sense considering binary options trading lives and dies by online-enabled trading with software.
An important consideration to make with 365 Binary Options is that they are not licensed. That’s not necessarily a red flag that means the company is suspect, as there are few more established brokers that also choose to remain unlicensed but they make this choice in order to service American clients. Because of SEC regulations, a licensed broker, even in another country, is not allowed to take on American customers.
However, 365 Binary Options, despite not being licensed DOES NOT ACCEPT AMERICAN CLIENTS. They are in compliance with SEC rulings, even though they don’t have to be. This could mean that they are in the process of getting their license from FIC, or some other regulatory body, so it’s an important point to keep in mind. If you’re American, you’re out of luck.
365 Binary Options Software
365 Binary Options uses the TechFinancials trading software, which is definitely a good thing for potential clients. This software is very easy, very user-friendly, and quite robust, offering a lot of different options for variables like expiry times and other factors traders will be interested in tweaking to their personal preference. It’s also quite a convenient platform, as the software scales, and can be used on mobile platforms like smartphones and tablets. This is a godsend for people on the go, as it means that they can still access their trading information, and even conduct trades without needing to have access to a laptop or desktop computer.
TechFinancials has, fortunately, been optimized to work with exactly this kind of trading. There are simple but powerful binary options trading tools. There are also simple Forex trading tools as well, so in all, users, once they take the time to learn the software, can have a very accessible but powerful and customizable trading experience.
365 Binary Options starts out with a minimum deposit of $200 into an account and minimum trades of $25. Beyond this, however, they have a range of different accounts with a lot of perks for people willing to take advantage of them. There are four different accounts, the mini, silver, gold and platinum. Each level has more perks for users, including more coaching and tutorial time with individual, experienced brokers, a bonus percentage on returns for every successful trade you make, and, at the highest level, one risk free trade per month, up to a value of $1000.
The broker also offers customer support seven days a week, 24 hours a day, in both English and Chinese. There’s also a complete library of introductory, educational materials for people that are still learning about binary options trading, these introductory materials not gated behind an account or membership.
Perhaps most important of all, 365 Binary Options is secure and reliable. All monetary transactions are protected by 128-bit SSL encryption, to guarantee your privacy and safety. Once you’ve decided that you’d like to enjoy the fruits of your labor, the broker uses a standard withdrawal procedure that will get you your money within a few business days of receiving the withdrawal request.
365 Binary Options seems to be in a state of transition right now. They’re not licensed, yet they don’t accept American clients, which means they are compliant with SEC regulations despite not technically needing to be. Having been in operation for two years now, they could very well be on the road to finally getting their license, but we’ll have to wait and see.