BINARYBOOK – IS IT A SECURED FOREX PLATFORM TO BEGIN WITH?

There are lots of ways to make money. Nevertheless, people often try to find the easiest ways to earn it. Online ‘forex trading’ is one of many ways, with which people can make money from home or workplace at ease. Just investing 15 to 30 minutes on a daily basis on a ‘Forex platform’ and with a bit of saved money, investors can easily make a profit around 20-50% of the investment. If things go well, the turnover could be double.

Right now, there are hundreds of popular ‘Forex platform’ that are available online. And it certainly makes the decision-making process a bit difficult for any potential investor to choose the right one. However, if we cut short the list based on the popularity and feedback from the users end, BinaryBook will always at a top position as it was for past couple of years.

BINARYBOOK REVIEW

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BinaryBook, a platform that was designed based on the features of ‘binary options’, started its journey back in the year 2014. ‘WSB Investment Ltd’ has been operating BinaryBook since its beginning. Zsolt Csilling, a Hungarian was the founder of this organization. A couple of years later from its beginning, ‘WSB Investment Ltd’ was merged with ‘Tech SB EOOD’ of Bulgaria to handle the payment and trading processes in a much smoother way.

HOW BINARYBOOK EXECUTES THE TRADES THROUGH ‘BINARY OPTIONS’?

Before we dig into the trading processes of BinaryBook, we need to have a clear concept about ‘Binary options’. In a few words, ‘binary option’ is a platform where an investor can bet on the value of an asset. The asset can be a currency or a commodity. The investor predicts the value of a certain asset at a specific time in the near future. If the prediction turns out to be correct, he/she gets paid according to the spread value. In the reverse case, the spread value is being deducted from the betting amount.

BinaryBook was designed targeting the key areas of ‘Binary options’, and unlike many other platforms, it didn’t divert from its original direction. Overtime, it has improved the algorithm of its website to make it a user-friendly platform. It also improved the asset selection section. Alongside currencies, it included a wide range of commodities e.g. gold, silver, oil, sugar, coffee, wheat, and cotton. In addition, the user of BinaryBook can also have a bet on the stock prices of companies like Apple, Google, Ebay, Facebook, Microsoft, Wall-mart, Nestle, Chevron, Nike, Samsung, and list goes on.

REGISTRATION & AUTHORIZATION AT BINARYBOOK

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BinaryBook offers the simplest of ways to open an account. But the verification process is more or less similar to many of the well-secured platforms. If a user wants to access this site through a smartphone, he/she will find this “BinaryBook” app at both ‘Google Play-store’ and ‘Apple App-store’.

  1. Registration: To register to BinaryBook, a user need to click on ‘open account’ at the top. However, on the updated ‘home-page’, a user will find a ‘Starts trading now!’ box. Just putting some information e.g. first name, surname, email address, country, phone number with country code, a user will be able to complete the first step of registration process. Within a moment, he/she’ll receive an email with a link. By clicking on the link, user will be redirected to a BinaryBook page where he/she will be needing to add a strong password for the account.
  2. Login/Sign-in: After setting the password, the user will be able to login to his/her account with the registered email id and password. However, after the verification of the phone number, a user would also be able to login through that number.
  3. Account verification & Termination: Since the verification process is being completed by the customer care executes who are available 24×7. Simplest of two ways is to open the ‘live chat’ box and asks for the assistance for the verification purpose. The customer care executives will then let the user know what are the documents required for verification. At BinaryBook, a user has to submit the common documents like passport copy, water/electricity bill copy (not more than 3 months old). In addition, a user must have submit the bank account information. If the name matches in all the three submitted documents, the customer care executive opens a ‘live video chat’. Then he asks a few common questions like date of birth, name, parents’ name, and why he/she is interested in opening the accounts and so on. After the live session ended, BinaryBook officials take no more than 24 hours to add verification batch to your ID.

Since BinaryBook doesn’t charge a penny for an inactive account, there’s no need to delete the account permanently. Nevertheless, if the user feels the need to deactivate/delete the account, he/she can easily do it with the help of customer care executive. Once the user account is being deactivated or deleted, he/she will be notified by an email.

TYPES OF ACCOUNTS AT BINARYBOOK

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One of the major drawback of this platform is the absence of ‘demo account’. However, based on the transaction amount, BinaryBook five different options.

Account typeMinimum depositMaximum deposit
Micro accountUSD $250.00USD $500.00
Basic accountUSD $500.00USD $5,000.00
Gold accountUSD $5,000.00USD $10,000.00
Platinum accountUSD $10,000.00USD $50,000.00
VIP accountUSD $50,000.00

The users who’re willing to take minimal risks, ‘Micro account’ would a perfect option to begin with. ‘Basic account’ is basically for the novices to explore the forex trading in a silkier way. ‘Gold account’ is ideal for the traders targeting medium to high volumes of trades. ‘Platinum account’ and ‘VIP account’ are suitable for ‘Star traders’ or ‘Professional traders’.

DEPOSIT AND WITHDRAWAL

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BinaryBook is a way behind than its competitors in this segment of the competition. Whereas the other platforms have at least 10 to 20 money-transaction platforms, BinaryBook only has a few. However, BinaryBook had claimed to restrict the transaction platforms for the ‘money-protection’ purpose. A user can only deposit and withdraw the money via Bank-transfer, Wire-transfer, VISA Card, and MasterCard.

TRADING AT BINARYBOOK

When a user clicks on the ‘Trade’ section at the top bar, he/she will find a list of binary options for trading.

  1. Binary: At this section, a user can have any regular binary trading for currencies and commodities.
  2. Pairs: Trade at this section is really fun. Here, a trader has to pick any of two items (currencies or commodities) which is going to be at the top after a certain period of time.
  3. Long term: At this section, trading is the exact same as binary section with only difference in the time frame. The period can be as long as 9 months from the moment of selecting it.
  4. 60 Sec: It’s exactly the opposite of ‘Long-term’. Here the trader has to predict a value which will expire from 30 seconds to 300 seconds depending upon the choice made.
  5. One touch: At this section, the trader has to pick a time period within which the value could touch the ‘horizontal line’ at the graph.
  6. Ladder: This section is for the professionals. Because here the traders have to trade considering several factors. And the outcome of the investment depends on a lot of factors than just touching value or not.
  7. FX/CFD: This section is also built for the professionals. Because at this section, a trader can make 100% profit on the investment amount or lose all of it.

CONTACT INFORMATION

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A user or a potential user can contact BinaryBook any time since its customer care service is opened for 24×7. The best way to reach them instantaneously is to ask for ‘live chat’. However, a user can also contact the officials through emails, phone number, visiting the office.

Email: support@BinaryBook.com

Phone No: +44 (20) 35198267 & +973 (16) 198852

UK Office Address: WSB Investment, 1A, Arcade House, Temple Fortune, London, NW11 7TL, U.K.

Anguilla Office Address: WSB Investment, 201 Rogers Office Building, Edwin Wallace Rey Drive, George Hill, Anguilla.

CONCLUSION

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One of the reasons why a user of BinaryBook often feels motivated to use this platform is because of the ‘performance chart’ present at the left-flank of home-page. This chart contains the top-five performers of the last 24 hours. Just below that chart, there is another box which explains how the top trader (performance chart) reach there. In addition, this platform contains all the necessary study materials required to understand the trading and use the acquired knowledge to maximize the earning through this platform. In the end, it can be said that BinaryBook is one of the highly secured platforms and guarantees security in every transaction. Therefore, it could be a great source for both new comers and professionals to use a forex trading platform.

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Fred Smith
Fred Smith / автор статьи
My name is Fred Smith. I graduated from the University College London UCL, and I have been trading on stock markets, binary options, and Forex for more than 10 years.
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