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Binary Forex Market VIP (BFMVip) is a new kid on the block in binary option trading. Domiciled in Malta, BFMVip opened its doors in 2014 and has already gained a foothold in the binary option industry.
Minimum Deposit: $250
Minimum Trade: $20
Languages: English, French, Dutch, Italian, Russian
Binary Forex Market makes trading binary options easy. The trading platform allows investors and traders the ability to trade stocks, currency pairs, commodities and indices on the exotic options market.
The website is user friendly and easy to navigate. In fact, most of the information comes up on the home page and if there is any question on what to do, Chat pops up the moment you open the site.
Binary Forex Market offers four different accounts. The Discovery Account requires a minimum deposit of $250 with a minimum trade of $20. Bonuses can amount to 30% of the trade and the maximum payout is 75%. $5000 is the minimum deposit needed to open the Premium Account and $50 is the smallest trade. There is a maximum bonus of 50% in this account and a 79% maximum payout. This account includes one half hour coaching session.
The Excellency Account requires a deposit of $20,000, a minimum trade of $100, a maximum bonus of 70% and a maximum payout of 83%. This account includes two coaching sessions for half an hour each and a weekly monitoring of trades with one of our experts.
The VIP Account is for expert traders who can deposit $50,000. A minimum trade is $1000 and maximum payout is 85%. Bonuses reach 100%.
Each account allows traders to take advantage of Digital, Touch, Range and Turbo trading.
Two unique trading features are offered. ‘Close Now’ enables traders to cancel a digital option before the time of expiration. A trader does this when he believes that his option is not performing as he expected because the underlying asset he chose is not moving in the direction he predicted.
BFMVip’s unique Roll Over feature enables traders to extend the expiration date of an option so that they can give an option a greater chance to expire in-the-money.
(I’m not sure why these last two features are listed in the education section as part of their BFM Academy.)
There is no indication that a demo account is offered.
When it comes to education, Binary Forex Market offers businesses and individuals training sessions that must be prearranged and can be scheduled even on a Sunday. There seems to be plans for videos but nothing was posted at the time of this review.
News analysis is posted although when doing this review, the last analysis was dated May 30th.
The site is available in English, French, Dutch, Italian and Russian. As far as customer support goes, Chat is available as are telephone contacts to the UK and Malta. No email address was given.
All in all, BFMVip offers traders much of what they need. But I felt that the BFMVip site still needs some enhancing and organization.
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Review info: Binary Forex Market VIP
Review Date: 2014-06-29
Rating : 2.5
Reviewed By : Sara Patterson (Google+)