Binary Book –an honest broker?
Main terms and conditions of trade
Binary Book exists since 2012 and is registered in an offshore zone, in Great Britain. If you are going to work with Binary Book, you should know the following facts:
- The minimum deposit is 250 dollars. And the minimum cost of the option is 25 dollars. Profitability – up to 85% for trading in classic options. Binarybook also offers high-yield types of options with a possible profit of 500% or more.
- There is no demo account on the site.
The easiest way to determine a scam broker is to check if for a license. As it is registered at Great Britain, it should have a license of FCA regulator in the United Kingdom. Binary Book has no licenses or other regulatory documents. If a broker has no license, it is illegal and we do not recommend to work with such a broker.
Types of accounts
Binary Book offers 5 types of accounts: Micro, Main, Gold, Platinum, VIP. The type of account depends on the amount of deposit. Features of accounts:
- Micro: Bonus up to 20%, access to the academy and reviews;
- Main: Bonus up to 50%, risk-free transaction;
- Gold: 1-month free use of signals (worth $ 200), bonus up to 75%, 2 risk-free transactions;
- Platinum: 1-month free use of signals, bonus up to 100%, 5 risk-free transactions;
- VIP: 2 months free use of signals, unique VIP-package.
Input and withdrawal of money
Binary Book offers only 2 ways of input/output of money – by means of bank transfer or credit/debit card. If you decide to trade on the Binary Book, review the following limits that you may encounter during the withdrawal:
- Up to 3 bank cards can be attached to one account;
- 10 transactions on the card. It is unclear for how long this limit is presented;
- 50 thousand dollars – the maximum total amount, you can withdraw.
Even if there are several ways of withdrawal of money, this broker tries to do everything, not to give you your money. Using their terms and rules this project is trying to convict you in violation of their rules. Often happens so, that user earned some money and wants to withdraw his deposit, but broker takes out the money from his account and doesn’t bring anything to the card.
Trading platform of Binary Book offers traders to make one of several types of contracts:
- Binary. This is the classic contract type “Above/Lower”;
- FX / CFD. Type of transactions from the category of the Forex market;
- Pairs. Assume two financial instruments. The trader needs to choose which asset will bring more profit within the specified expiration period;
- Long Term. Transactions of the “Binary” type, however, the expiration period here starts from 7 days;
- Turbo. This is a short-term trade, which starts from 30 to 300 seconds;
It is not recommended to cooperate with the Binary Book. A financial institution does not pay profits to its customers. This is the main reason why gently refuse to work with this broker. Also, the broker has problems with updating the quotes, which leads to delay and slippage.