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  • 99binary review

    99Binary Positive Review
    99Binary Overview
    Founded 2013
    Accept US traders Yes
    Normalized profit 75%
    Trading assets Stocks, Currencies, Commodities, Indices
    Total assets 83
    Minimum Deposit $200
    Min. Trade size $5
    Trading Currency USD, EUR
    Deposit Methods Credit Cards, Wire Transfers
    Withdrawal methods Credit Cards, Wire Transfers
    Platform Special features High/Low, One Touch, Boundary, 60 Seconds
    Demo Account Yes (must deposit minimum of $500)

    Overview
    Pros
    Above average asset range
    Very low minimum trade size
    Deposits are not locked to welcome bonuses
    Very organized user interface
    Accepts US traders
    Reliable customer support

    Cons
    Minimum deposit was increased from $99 to $200
    Demo account requires a minimum deposit of $500

    Platform:
    99Binary is a new platform that started its services in 2013. Although it’s a new player in the binary options trading industry it has been able to go on par with the rest of the competition having all the basic services that most known platforms provide and offering extra features that adds more efficiency to the whole trading experience. For this reason 99Binary gets a Platform score of 5/10.

    Design
    In terms of design, 99Binary has made trading quite easy and simple with all the essentials placed on the main page and the different trading instruments set in specialized tabs. They were able to put all the functionalities on the menu without making the entire user interface cluttered or messy. Even the blending of the white, blue and green colors was seamless!
    And for this, 99Binary wins a 5/5 Design Score.

    Min. Amounts
    99Binary used to have a minimum deposit requirement of just $99 when they started up (hence the name 99Binary) but that has already been increase to $200 as of this writing. Most brokers require around the same amount so this broker it still goes at par with the rest of the competition. However, this amount is not so important if you’re really serious in trading with binary options and in fact you might actually invest more. For this amount, 99Binary gets a minimum deposit score of 4/5. It would have been a perfect 5 if only they bring it back to $99.

    Minimum trade:
    Most brokers have varying minimum trade sizes for different option types but what’s surprising with 99Binary is that they only require $5 for all types of options!
    This warrants them a Minimum Trade Score of 5/5.

    A low minimum trade size is very important as it allows more efficient trades and different trading methods can be tested. Since the amount needed to make a trade is small, the risks are also lowered for making such experiments.

    With 99Binary’s $5 minimum trade size, you can trade for a maximum of 40 times if you have a $200 initial deposit. That’s a lot of opportunities to profit as compared to a broker allowing $10-minimum trades which only allows 20 trades for the same deposit amount.

    Assets
    Tradable Assets:
    99Binary currently has a total of 83 tradable assets, a tad higher than what most brokers provide. Here is the breakdown of their assets:

    33 Stocks
    15 Forex
    7 Commodities
    28 Indices

    If you’ve noticed, they have managed to beef up their stocks and indices section so there are plenty of chances to make profits. This gives 99Binary a tradable Assets score of 4/5.

    Banking
    To make profits: that is essentially the reason why a lot of people trade binary options and this is also the reason why a higher payout rate is better because this gives you more money to earn. And how does, 99Binary compare? It’s 75%. Not an exceptional rate but it’s still above the standard range. And for this, they get a Payout Score of 8/10.

    Withdrawal Time:
    Withdrawal requests usually take up to 3 business days to process with an additional 5-7 days before the amount is reflected on the account. This is the usual processing time for most brokers although it would have been better if they have expedited it. In comparison with other known brands, 99Binary manages to keep up that is why its Withdrawal Time Score is 8/10.

    Deposit & Withdrawal Methods:
    Multiple methods can be used in funding your account with 99Binary. You can either use credit/debit cards (Visa Electron, Visa Debit, Mastercard, Diners Club, French Carte Bleue, Chaina Union Pay) or wire transfer (processing time of 5 business days). This warrants 99Binary a Deposit and Withdrawal Score of 4/5.

    Support
    You need to sign-up with a broker that tells you all the facts that you need to know and if they go the extra mile to provide you that essential information then it is definitely a brand to trust. The problem however with some brokers is that they avoid mentioning these necessary details but of course, there are exceptions.

    So how was my experience with 99Binary’s chat support? Below is the screenshot of my conversation with their support team manager.



    As you can see, I inquired about their bonuses and asked if there is something that I should know about prior to availing of this reward. The manager was able to discuss with me straight to the point there is a 30x wagering requirement and even gave me an example in order for me to understand the terms better. I also asked him if my initial deposit will be locked with the bonus but I was glad to know that the funds can still be withdrawn but the bonus however will be forfeited.

    The support team manager was able to answer my questions promptly that is why I am giving them a Support score of 10/10. A perfect 10 for providing the answers straight to the point and for the fast response time.

    Most brokers have quotes on their websites for the purpose of giving users real-time market data that is essential on making profitable trades. Some rogue brokers however tend to abuse this feature in order to rip-off traders and cart off their investments. Fortunately, my test with 99Binary’s quotes turned out to be positive as the feeds coming from their site was no different from the actual market data. This why I am giving them a Quote Accuracy Score of 10/10.

    It was only in 2013 when 99Binary joined the market but what’s surprising is that they were already able to make a name for a span of 1 year. A lot of positive reviews coming from different websites can already be found online and these feedbacks are coming from real traders. Of course there will always be unhappy customers but if you compare the numbers, it unanimously shows that this brand is getting a lot of high praises. And for this, 99Binary gets a Reputation Score of 13.5/15.

    Bonuses
    Bonus Requirements: Expect to get a welcome bonus from almost any broker after you have signed up for an account. It can be tempting but it is important to know the restrictions that are bound with these promotions and the most common of which is the required trading volume which will be elaborated on the scoring page.

    If you want to still keep the welcome bonus then you need to fulfill a trading volume requirement of x30 in order to withdraw this amount. This volume is a bit lower than what other brokers require that is why 99Binary gets a Bonus Requirements Score of 5/5.

    If you have read the chat conversation, the support team manager mentioned to me that 99Binary will not lock your initial deposit with your bonus. With these more relaxed terms and conditions, 99Binary definitely deserves a Pre-Volume Withdrawal score of 4/5.

    Summary
    99Binary is certainly off to a good start in the binary options industry by offering much lower and relaxed requirements in terms of minimum trade sizes and welcome bonuses. With the opportunity to trade for as low as $5 on all types of options, this certainly increases the odds of making profits out of their 83 assets. There’s no doubt that 99Binary this is the ideal broker for traders who are looking for more value out of their investments.

  • #2
    Great Information. Thanks for sharing.

    Comment

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