** LBinary has been mentioned as one of the targets in several pending lawsuits and is reported to have solicited substantial deposits from a number of traders. The website has gone black as of late July 2016 and is no longer accessible.
LBinary, a brand of Chelestra Limited, Gibraltar, is a binary options trading broker that provides investors access to underlying assets such as stocks, indices, commodities and currencies. LBinary maintains locations in several places: Nicosia, Cyprus; London, UK; Victoria, Seychelles.
There are 5 different accounts to choose from at LBinary: Micro, Silver, Gold, Expert and Platinum. The first thing one notices when checking on these accounts is that there is no minimum deposit required for any of them. Payouts can be as high as 85%.
The other features of the accounts are clearly outlined. Each account is provided with its own personal Account Manager. The Account Managers are assigned according to an investor’s language and geological region and are available along with customer support, through telephone, email and live chat 24/7.
All account holders of LBinary receive a one-on-one live trading session with a professional binary option broker, upon their request. Platinum account holders are entitled to a VIP telephone line.
LBinary promises to release withdrawals within 72 hours for all account types. We were unable to test this assertion and recent complaints of difficulties by some traders with untimely withdrawals seem to have been resolved.
When choosing a broker for any investment vehicle, one of the main considerations to keep in mind is its trustworthiness. LBinary does not have any regulation which is a shame as when it comes to dependability and trustworthiness, being under the aegis of a recognized regulatory organization can be very important.
With or without regulation, one way to check out the trustworthiness of your broker is by using the services they promise to provide their clients. Executing entry and exit trades in a timely efficient manner is of major importance. A few minutes can make the difference between profiting and losing on a trade. Opening an account for any broker is a simple process and taking your deposit is usually a breeze. When it comes to withdrawing your money, however, be extra cautious. LBinary provides both services in a fair manner.
One of the platform features offered by LBinary is the Rollover option. Rollover Trading was established to help loss limitation. The feature allows traders to a rescue a failing trade before the expiry time lapses. LBinary allows investors to ‘Rollover’ trades which is useful when a trade is about to end with unwanted results. When used properly the ‘Rollover’ feature helps traders to not only save money that might be lost, but to turn it around so that the trade makes money.
The Rollover option has specific rules. It only allows standard Call/Put options only – no Option Builder, 60 second or One Touch. The trade must be an ‘Open Position’ and the ‘Open Position’ must be ‘Out of the Money’. The Rollover trade will automatically set itself for the next available expiry time, is not permitted on long term trades and it cannot be used on end of the day trades. A bonus of 30% is added to the initial investment amount.
An fully listed expiry chart for each asset is also available.
The educational material offered by LBinary is somewhat limited and most of the information is similar to other binary options brokers. I did like their daily market review which is provided by Bloomberg Financial News and which is posted alongside an animated video about trading with LBinary. The video provides information about the broker that doesn’t appear anywhere else such as the fact that LBinary uses the Nadex Exchange to execute their trades.
LBinary offers live classes as well as a series of special trading events webinars. The classes consist of live events like the ECB rate decision and the US NFP (nonfarm payroll) report as well. The weekly webinars are for 1-1.5 hours and all classes are free of charge to LBinary’s clients. Clients making first time deposits are automatically given enrollment into the level 1 course. The webinars offer live on-line trading with our top brokers as well as bonuses and awards.
Clients can earn enrollment to advanced classes with additional deposits, or bonus and promotions. Or they can earn points per trade to apply against free enrollment. Account Managers may award clients advanced courses.
LBinary’s mobile application is designed for smart phones and tablets that use either Android or Apple’s iOS technology. They can be downloaded from AppStore or Google Play and are simple to use, offer fast results, and can be accessed from anywhere. It covers all open options.
At the time of the review, the only promotion being offered by LBinary was the Refer-a-Friend Promo which is quite generous. For every friend brought in, the referrer receives $100.
Clients can reach a representative by telephone to several global numbers. Email contact and live chat is available as is an online inquiry form.
The LBinary website is user-friendly and most information needed by a trader is easily located. The fact that it is located in Gibraltar and doesn’t have any regulation makes one question its reliability but it has been around for quite some time now and seems to be holding its own in a highly speculative market.
- Demo Account
- Choice of Accounts
- Only One Platform
- No Regulation
- No FAQ
Review info: LBinary
Review Date: 2016-07-24
Rating : 3.5
Reviewed By : Sara Patterson