With new binary options brokers popping up on the internet so frequently, it is refreshing once in a while to be able to observe the emergence of a trendsetter. One such broker is uBinary. Based on the Isle Of Man (IOM), uBinary is owned and managed by a holding company called PPT Capital Ltd. that is registered with the IOM Financial Supervision Commission (FSC). Aiming to provide their clients with highest level of service, uBinary have provided their clients with the services of a team of expert analysts and a state of the art trading platform.
The first thing which traders will notice different about uBinary from other binary brokers is the look and feel of their trading platform. While most brokers will go for leading online platform providers like TradeSmarter and SpotOption, uBinary had opted to use the platform engine that was designed and developed by ParagonEX, a leading provider of online Forex trading platforms.
Beautifully designed, the platform is surprisingly smooth and easy to use. All the trading functionalities are all within reach with a single click of the mouse. However, the most powerful feature of uBinary trading platform is the charting tool. Traders here have the choice to switch from a line chart to a candlestick chart. Technical analysts who rely heavily on charts for their analysis will greatly appreciate this feature as candlesticks charts are able to provide more pricing information than a simple line chart.
Types Of Options Contracts
At present, uBinary is just offering two basic types of options contracts. They are the popular High/Low options and short duration options like one minute, two minutes and 5 minutes options.
Trading Account Types
With regards to trading accounts, traders have a choice of three different types of accounts. At the very basic level is the “Standard” account. This type of trading account only takes $100 to open. There is also a 30% welcome bonus for those who want to claim it.
At the next level is the “Gold” account. In addition to all the benefits of the Standard account, Gold account holders have the benefit of daily market analysis, 2 months worth of free signals and a free educational package.
Traders who want the best of what uBinary has to offer to go for the VIP account. This type of account has all the benefits of Standard and Gold account and the benefits of personalized service and unlimited signals.
The returns which uBinary offer their clients on their investment is on the high end of the industry standard. On average, traders can expect a return of around 80% to 85%. However, there are no rebates for trades that expired out of the money.
Currently the range of assets available for trading is not extensive like most leading brokers. Nevertheless, the choices that are available still allow for plenty of profit opportunities. Below is list of the available assets:
|CoffeeCornGold SPNatural GasOilSilver SP||AIGAmazonAppleBoeingChevronCiti GroupCoca ColaExxon MobilFacebookGoldman SachsGoogle|
|CAC 40DAX 30Dow JonesFTSE 100Nasdaq 100Nikkei 225SP 500|
As part of the objective to enhance their clients’ trading experience, uBinary’s customer support services are available 24/6. Traders can access the support service through:
- Email (through web contact form)
- Fax: (+18.104.22.16882)
- Live Chat (24/6)
- Phone (+44.203.608.1229)
To ensure the safety of their clients’ funds, uBinary encrypt all the internet communications with SSL encryption algorithms. This is in addition to the fact that traders of uBinary also have access to a compensation fund that is under the jurisdiction of the FSC in case anything goes wrong with uBinary.
To prevent their clients from inadvertently running afoul of anti money laundering laws, uBinary only deal with international recognized methods of fund transfer. In short, traders can fund or withdraw from their account through:
- Bank Wire Transfer
- Credit Cards
- $100 Only To Open An Account
- 30% To 50% Welcome Bonus
- Advanced Charting Tools
- Good Customer Support
- Very User Friendly Trading Platform
- Limited Choices Of Option Contracts
Having gone through what uBinary has to offer, it doesn’t take a genius to realize that this broker is able to cater to the needs of new traders. Their comprehensive educational library and excellent support which uBinary excel at providing are two keys things which new traders would rely heavily on. So for those who are in the market for a binary broker, uBinary is worth a serious look.
uBinary Reliability and Security
With so many binary options brokers appearing online every other week, it is not easy for traders to know offhand which of these brokers are reliable. Normally, to make matters easier, traders tend to go for more established brokers that are located in a major financial center around the world. Thus, when they come across a broker like uBinary which only recently started operations and is based on the Isle Of Man (IOM), they tend to hesitate. The reasons for this are simple. First of all, the Isle of Man is better known for its Isle of Man TT motorcycle race than being a financial center. Second, with new established brokers, it is hard to judge their performance as there is very little operational history to compare with.
Not A Major Financial Center
Although the Isle of Man is not a major financial center, it is actually quite a popular destination for many corporate bodies and high net worth individuals to park themselves at due to the favourable tax climate. Because of this, the IOM Financial Supervision Commission (FSC) that supervises the financial services industry is very keen to ensure that the Isle of Man’s reputation is not tarnished by fraudulent activities on its soil.
This is why the FSC actively encourages the public to report illegal financial activities to its enforcement division so actions can be taken. The public are also warned of from dubious schemes or operations by the warning bulletins that the FSC regularly publish on its website. So in this respect, trades should to be worried when it comes to dealing with an IOM based broker like uBinary. As a regulated entity of the FSC, traders of uBinary have the added protection of the ACISCS compensation fund should they do not get what is due to them from uBinary. The compensation under ACISCS runs up to a maximum of £48,000.
Operational History of uBinary
Despite the fact that uBinary has very little operational history, it is still possible to evaluate their operational reliability. The way to do it is to look at the level of technical competence which the support staffs have as well as how well the trading platform is operating. This is because technical competency can only be achieved by investing time, effort and money. Obviously, if traders were to try out uBinary’s trading platform and experienced the services rendered by the support staffs, they will be able to know that this is a professional outfit that is making efforts to stay in business for the long term.
uBinary User Comments
1. Unique Trading Platform
Easy to switch from a line chart to a candlestick chart
Only binary platform with such advanced charting tools
Wish they have more assets to choose from
2. Only $100 to Get Started!
Opening a trading has never been so easy. Fill up a form and transfer just $100!
Hassle free process for opening a trading account
Wish they have more alternatives for fund transfer
3. Trading Platform Need No Guidance At All to Operate
It’s so easy to use their trading platform. It’s like they already know what I want on my trading interface.
Simple but powerful trading platform
Initially, my browser crashed a lot until I sorted out my flash player. If your flash player is not installed properly, the platform can hang.
4. High Bonuses
Upon me depositing my money, they gave me a 30% welcome bonus.
Attractive welcome bonuses ranging from 30% to 50%
You have to fulfill the terms and conditions of the bonus before you are allowed to withdraw
5. Great Customer Support
These guys are truly professional. They attended to all my questions diligently. I love dealing with them.
Responsive and Attentive customer support
So far so good. No complaints about them.