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Published on December 27th, 2017 | by John Kane

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Broker Review: Binary Xchange

Broker Review: Binary Xchange John Kane

Summary: This brokerage is one of the lesser known options in this market, but that doesn't mean that it isn't viable.

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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 support@binaryxhange.com, but I believe this is a typo, and that the actual address is support@binaryxchange.com. 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.”

Details

  • Type: Options Broker
  • Founded: 2016
  • 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.

Account Types

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.

Conclusion

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.

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About the Author

I am a full time binary options trader. I was able to leave my job in the last 5 years and dedicate myself to trading fully. I never thought my hobby and passion would make a living for me but I am grateful every day that it has. My main goal now is to communicate with the binary trading community, contribute to different websites and learn from other traders.

Disclaimer: Binary Today would like to remind you that the content contained in this website is not necessarily real-time nor accurate. Past performance does not guarantee future performance, the above is not indicative and is purely for educational purposes only. Relying on the above for investment, trading or betting in binary options or Forex is not advised unless done so with virtual money only.

Binary Today or anyone involved with Binary Today will not accept any liability for loss or damage as a result of reliance on the information including reviews, recommendations, charts, software, income reports and signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


One Response to Broker Review: Binary Xchange

  1. Marselo says:

    this company has financial problems that are not heard yet..

    I am waiting for payment already 4 months, I wanted to withdraw 5k and 10k
    unfortunately, my patience is over.

    I started trading again at ease because I can not withdraw this money
    I did not have any fears, I treated it as fun

    I made 500k last night !

    I have 30 minutes VIDEO of trading evidence
    will publish this video if I do not receive at least 200k of this balance

    I traded eth, bitcoin cash on the night of February 5, 2018

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