Binary options trading has exploded in recently years to become one of the hottest and newest trading trends. Its simplicity and clarity has no doubt caused its popularity to soar and many different brokers are now offering binary options trading. Binary options trading started off primarily as an online trading platform and the vast majority of binary options brokers are still online websites. In this review we’ll be looking at the online binary options broker EZTrader.
Longevity is an important metric for the success of any brokerage, but it’s especially important for binary trading brokers. Since you never actually own the stock, you have to rely on the broker to reliably track the stock metrics and pay out if you made a successful call.
For a long time there was no regulation of binary options brokers and so there was a lot of risk when traders wanted to try out binary options brokers. You had to take a chance that the broker you chose was legitimate, would offer you the stated prices and would pay out on time.
EZTrader claims to be the first broker to offer binary options trading to the masses and has been doing so since 2008.
EZTrader definitely has longevity going for it and in 2013 it became a CySEC regulated broker. This means that it has certain financial obligations and responsibilities that it must abide by in order to offer its trading services to the public. This means that you have certain guarantees over the broker’s legitimacy and what it can and cannot do with your money. Since being able to guarantee that your money will be held responsibly and that payments will be issued upon request is important for any trader, it’s good to know that EZTrader is regulated and this is favourable.
The payout structure on EZTrader is one that pays traders between 70% and 95% for every successful Call/Put trade.
EZTrader’s site is very modern and looks very professional. Charts and graphs are prominent, easily customisable and simple to use. EZTrader offers binary trading options on stocks, currencies, commodities and indices so there is plenty of choice when it comes to trading. EZTrader also accepts a very wide range of different payment options from cards to moneybookers and wire transfers so moving money to and from your account is as simple as possible.
It can be quite complicated to learn new financial software and you might be doubly overwhelmed if you’ve never traded binary options before. EZTrader offers an education centre which contains a glossary, trading guide, ebook and tutorial. All of these are aimed at helping you to understand both EZTrader and binary option trading in general. If you’re a newcomer you’ll find these guides immensely helpful. This is not something that necessarily has an effect on their position as a broker, but it is a nice additional bonus.
Binary Options Magazine
In addition to generous documentation and guides, EZTrader also features its own magazine to keep you up to date on the world of binary option trading. Since binary option trading is a typically fast paced type of trading, you need to be sure you have the latest information when making trades. Having this information available on the same site that you conduct your trades is another convenience bonus for EZTrader.
One of EZTrader’s biggest strengths is the sheer amount of options available for you to trade on. Virtually any currency, commodity or indices can be traded on giving you maximum flexibility when it comes to binary options trading.
EZTrader graphs track the value of each asset in real time and making a call or a put is as simple as pushing a button. It allows you to get a very reasonable level of precision with your trades so that you don’t feel cheated by timing delays when making calls. You can track several charts live on the same page which is handy, so you can be making several trades together at once.
The assets that are available for trading on the platform of EZTrader are:
One thing you want to be able to depend upon from your broker is being able to get in touch with someone when you need help. EZTrader offers a range of contact options. They claim 24/7 support and allow you to email them, have them call you up or chat to someone live.
There are also call centre support numbers available in English, Italian, French, German, Spanish and Portuguese so there are are plenty of support options available for an international audience. For some reason the call centre support numbers are only listed on the registration page and not on the ‘contact us’ page. This is quite strange and could perhaps be more obviously placed for when you need support.
EZTrader is owned by WGM Services Ltd, and is based at 48 Themistokli Dervi Avenue in Nicosia, Cyprus. EZTrader is one of the few binary options brands operating on a unique trading platform.
There are several bonuses and promotions available on EZTrader. These can be classified into account opening welcome bonuses and special bonuses.
Welcome Bonus: There is a welcome bonus of up to $2,000 for all existing traders on EZTrader. This is a regular bonus that is available at all times of the year irrespective of season. In addition, new traders can get up to 50% welcome bonus on all deposits starting from $500.
Special Bonuses: The latest bonus being given by EZTrader is the New Year bonus which promises a double bonus for all new account deposits from $1000. The maximum bonus to be given is $20,000.
Opening an account with EZTrader is relatively easy. After filling out some basic personal details and making your first deposit, you’re able to begin trading right away. There are no downloads necessary which means that you can make trades from any device you have that can access the web. This is an advantage because it means you can make trades from your smartphone on the go, your desktop computer at the office and your tablet at home. Once more, for binary options trading it is a huge convenience to have access to your trades wherever you are.
Like most brokers, EZTrader does require a minimum deposit when opening an account but it doesn’t charge any fees for registration. The minimum deposit amount when opening an account varies depending on the currency you’re using, but is currently US$200, €200 and £200. After the initial deposit this drops to 100 for each additional deposit.
It’s also important to note that when you register you must choose which currency you wish to trade in. EZTrader offers the choice of trading in USD, EUR and GBP but you must choose the currency when you register and it cannot be changed after that. This restriction is rather limiting so make sure you know which currency you’ll be trading in for the entire time you have an EZTrader account.
EZTrader doesn’t charge any withdrawal fees for accessing your money and there are no withdrawal limits, so you’re free to take out your money whenever you want. This is reassuring, although withdrawals do take 5-7 days to process. This is quite a waiting period compared to depositing money, which is much quicker.
On EZTrader, the payment methods are divided into the main payment methods and the alternative payment methods (for those who cannot access the main payment methods).
The main payment methods are:
The alternative payment methods are country-specific payment methods that can be used by traders in certain locations. This allows this category of traders to use customized payment methods that will make it much easier for them to transact with EZTrader. These methods are:
EZTrader is a good binary options broker if you’re looking to get into binary options trading. It is the oldest binary options broker online, having opened in 2008, and has proved itself to be reliable. It’s regulated by CySEC so it is a legitimate broker and you know that your money is safe when you trade with them. EZTrader is incredibly flexible when it comes to the range of assets you can trade and the interface is simple to use.
There are some flaws with EZTrader but nothing that glaringly places it below the competition. EZTrader is a competent broker and is definitely worth consideration if you’re looking for a binary options trading broker.