Binary Option Trades has been flagged by Commodity Futures Trading Commission for "Other". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I found Binary Option Trades through word of mouth in my investment club and the initial impression was positive. But for just over a year later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Intuitive for beginners|Regular platform improvements|API access
Cons: Would like more payment methods
Binary Option Trades locked my account without warning and demanded documents I had already submitted. since early this year later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Real-time alerts|Multi-device support
Cons: Limited social trading features
My withdrawal from Binary Option Trades was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for a few weeks now of being strung along.
Pros: Competitive fees|Great customer service|Intuitive for beginners|Excellent charting
Cons: No live chat on mobile|Desktop app not available on Linux
The hidden fees at Binary Option Trades are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Comprehensive tools|Customizable dashboard
Cons: Onboarding videos are outdated