uBinary Review

ubinaryuBinary is an online broker that first came onto the scene in 2011 and has seen the number of traders that use them grow steadily ever since. We really liked what we saw from this binary options broker as things were revealed to us as we did this review on them. They did not plaster their website with annoying banners and they had a very visually pleasing trading platform to say the least. They are a broker that has won several different awards from different review organizations also.

Basic information:

Online since: 2011
Jurisdiction: UK
Software: ParagonEX
Max Returns: 90%
Bonus: 100%
Minimum Deposit: $250
Minimum Investment: $20
Maximum Investment: $5000
Currencies: USD, EUR, GBP
Mobile: Yes
Countries: All nations excl. US

Pros:

– It’s a site with a very user friendly platform
– No annoying banners or other popups on their web platform
– It’s an experienced broker
– Slick looking web platform
– They offer those that trade with them a convenient mobile app
– Up to 90% return on investment
– Slightly customizable trading platform
– Low minimum investment of $20
– No withdrawal fees in most cases

Cons:

– USA traders are not allowed

7 Binary Options Rating:

4,5 stars

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uBinary Special features

uBinary is a binary options broker that prides itself on not being mainstream with its website design. We already told you they have a web platform that is free of banners and other clutter. They offer those that trade with them three distinct account levels too. As with most brokers and binary option robot they offer the user more features with the higher amount they deposit.

  • Standard Account Level

This level is assigned to those who deposit between $250 and $4999. You are entitled to a 30% sign up bonus, one on one trading sessions and you can also access their educational packages.

  • Gold Account Level

This level is assigned to those who deposit between $5000 and $9999. You are entitled to a 40% sign up bonus, one on one trading sessions, 2 months of free trading signals, daily market reviews and you can also access their educational packages.

  • Platinum Account Level

This level is assigned to those who deposit over $10,000. You are entitled to a 40% sign up bonus ($5000 max bonus), one on one trading sessions, 2 months of free trading signals, daily market reviews, access to managed trading, assignment to a personal account manager and you can also access their educational packages.

Once you open an account and make your deposit you will then be contacted by your account manager and they will help orientate you to the website. They have a lot of account managers from all over Europe so don’t be surprised if you detect a heavy accent when talking to them.

Screenshot

ubinary

uBinary Trading Platform

uBinary has introduced a new trading platform software from a company called ‘paragonEX’. It is some of the newest and most innovative software on the market these days. It is what enabled uBinary to make a trading platform that is very unique and uncluttered. Once you log onto this brokers site you will be surprised for sure by the slick look of their trading platform. There are very few popups and even less chat requests asking if you need help.

Another nice thing about the web platform is that you can choose to have it displayed in one of two different layouts; a little customization is always a nice feature. You can choose either 4 windows that are conveniently laid out side by side or you can choose a configuration that just features the asset you are using at the time. You can even track your trading activity right on the bottom of the screen display.

Currently they offer over seventy assets which consist of a variety of currencies, stocks, indices and commodities. The option choices they offer are high/low, short term and long term. They have expiration times that are as short as 60 second and they can be as long as end of the day expirations. One of the things that most investors like about the trading platform is that it features an ‘option builder’ choice which again adds more customization to the trading platform.

Unfortunately they have no demo account available at this time and did not mention any being developed for use in the future. It can be a little scary for new traders and those getting used to a trading platform to have to risk their own money right from the get go when trading.

uBinary Customer Support

We thought this broker overall had good customer support but we were a little put off by the fact they only offered it six days a week. You can contact then by phone, email or live chat; you can even put in a request to get a call from your personal account manager if you have been assigned one.

The response time via live chat and phone was very good and our questions and concerns were handled adequately. There is a form you need to fill out and send to them in order to request the call from the personal manager, so if you need your question answered quickly it is probably best to use the live chat or phone feature. Customer service is handled using one of three different languages; these are English, French and Arabic.

uBinary Banking

Banking with uBinary is pretty simple and straightforward and we encountered no major problems here. The site has very secure banking services and is SSL encrypted to help protect your sensitive financial information.

Accounts were verified by the standard methods found throughout the industry; you have to send them scanned copies of a photo id, the credit card used to make a deposit and proof of address.

The initial depositing of funds into an account was fairly simple and they have a lot of different ways that the deposit can be made which is always nice. The deposit methods they accept are Visa, MasterCard, CashU, JCB, Diners Club, Maestro, Discover Card and of course bank wire transfer. Deposits showed up fairly quickly using most deposit methods.

Withdrawing from your account is also a pretty straightforward process and we had no complaints here either. The minimum withdrawal amount is $50 and there are no fees for most withdrawal types; that is very rare indeed for this industry. Withdrawals took 3 – 7 days to show up in your account which is fairly standard for the industry.

Our Final Thoughts

We had some mixed feelings about this broker but most of what we saw was very positive about them. One thing that must be noted is that offshore brokers do not tend to survive long unless they are a fair and reputable broker that does a good job at taking care of their trader’s needs; since uBinary has been traded on since 2011 it’s a good bet they handle business this way. We liked the slightly customizable features on the web platform and we also liked their mobile app. The negative things about the site we feel are minor and we definitely have no problem recommending our readers to give them a try if you like what you have read here.

Additional information

Customer Service: Live Chat / Email: [email protected]
Languages: English, French, Arabic
Trading Options: High / Low, One Touch, 60seconds, Long Term. Pair Options, Ladder Options
Assets: Currencies, Stocks, Indices, Commodities
Early close: Yes
Expiry Times: 30 sec, 60 sec, 2min, 5min, 30 min, 1 hr, 24h, End of Day, End of Week
Deposits and Withdrawals: Visa, Mastercard, Bank Wire, CashU, Diners Club, JCB, Maestro, Discover Card
Withdrawal Time: 3 – 4 days
Demo account: No

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BinaryOptions360 Articles:

References and Further Reading:

  1. Information, overconfidence and trading: Do the sources of information matter?  (Margarida Abreu , Victor Mendes-2012)
  2. Dual-capacity trading and the quality of the market (Ailsa Röell-1990)
  3. Manager-Investor Conflicts in Mutual Funds (Mahoney, Paul G.-2004)
  4. Real-time risk management trading system for professional equity traders with adaptive contingency notification (Timothy Anderson, Mark Mooney-2006)
  5. Municipal Mobility Manager: New Transportation Funding Stream from Carbon Trading? ( Adam Millard-Ball-2014)
  6. Computer system and related equipment for spending and investment account management  (Larry Wolfberg, Brent Wolfberg-1998)
  7. Run-proof banking without suspension or deposit insurance  (Gianni De Nicoló-1996)
  8. Regression neural network for error correction in foreign exchange forecasting and trading  (An-Sing Chena, , Mark T. Leung-2004)
  9. Commercial bank net interest margins, default risk, interest-rate risk, and off-balance sheet banking  (Lazarus Angbazo-1997)
  10. Liquidity, Banking, and Bank Failures (Stephen D. Williamson-1988)
  11. Materiality (Miller, D. -2005)
  12. Bank spread with uncertain deposit level and risk aversion  (Emilio R. Zarruk-1989)
  13. Securities trading workstation  (Donald R. Trojan, Edward F. Keenan, III, Henry Hyatt-1994)
  14. Formal analysis of an online stock trading system by temporal Petri nets (Y.Y. Du ; C.J. Jiang-2001)
  15. Trading and Exchanges: Market Microstructure for Practitioners (Larry Harris-2003)
  16. Method, system, and computer program product for trading interest rate swaps  ( Warren B. Mosler, William P. McCauley, James M. Sherman-2001)
  17. Optimal stock trading with personal taxes: Implications for prices and the abnormal January returns (George M. Constantinides-1984)
  18. Estimating the Interest Rate Sensitivity of Liquid Retail Deposit Values (James M. O’Brien,David H. Small-1994)
  19. On avoiding bank runs  (Irasema Alonso-1996)
  20. The Valuation of FDIC Deposit Insurance Using Option-Pricing Estimates (Alan J. Marcus and Israel Shaked-1984)
7 Binary Options review: Ubinary: 4,5 stars.
John Miller
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John Miller

John has worked in investment banking for 10 years and is the main author at 7 Binary Options. He holds a Master's degree in Economics.
John Miller
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