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Royal Binary is a binary options trading broker owned by South Pacific Investment Ltd and located in the Republic of Seychelles.
Minimum Deposit: $100
Minimum Trade: $10
Maximum Trade: $1000
Maximum Payout: 81%
There are four accounts to choose from at Royal Binary and the clearly laid out comparison chart on the account page is very informative. You can open the Bronze Account with $200 and receive a welcome bonus of 30%. $500 will open a Silver Account and that entitles you to a 50% bonus. The Gold and VIP Accounts require a deposit of $1000 and $5000 respectively and add several new features for the trader. Bonuses for both these accounts are negotiable.
Bitcoins, the new digital currency, can be used as payments for any of these accounts through the firm’s digital wallet application on your computer or smartphone.
A demo account was mentioned in the FAQ section and is something that needs to be discussed on an individual basis. I found this rather surprising as most brokers today do offer a means for new traders to practice their trades before fully entering the market.
Account holders can choose to trade three types of options: The Touch Option is a type of exotic option expiring in the money once the price of the underlying asset reaches or surpasses a predetermined price level. A trader who can determine the established range for the price action may select to trade the Range Option. And the Turbo Option gives a trader a possibility to open many investments during relatively short trading sessions.
Royal Binary also offers two unique features for digital trading, a type of binary option that gives traders the ability to more effectively manage their risk: Close Now and Roll Over.
‘Close Now’ enables traders to cancel a Digital option before its 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.
Royal Binary’s unique ‘Roll Over’ feature allows a trader to extend the expiration date of an option so he can give the option a greater chance to expire in-the-money.
Education is important at Royal Binary and traders can benefit from the offerings at the Royal Academy. Trading courses and 1-on-1 webinars are provided to account holders so they can keep up with valuable market information, trading trends, trading techniques and more.
Customer support is provided by email and telephone to several locations. I did not see any Chat offered.
All in all, I found that Royal Binary is on track to becoming a solid, reliable binary option broker. At present, there are still some kinks to work out.
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Review info: Royal Binary
Review Date: 2014-06-29
Rating : 4
Reviewed By : Sara Patterson (Google+)