This 99Binary review was probably overdue considering the attention which they have been getting, but we are glad that we did finally get the opportunity to try them out. Better late than never. Due to the sheer number of brokers now we usually avoid reviewing one until they have an established history and reputation, and/or have distinguished themselves in some fashion. However, with the attention which 99Binary has been getting in the binary trading community recently, it was no longer really fair to keep ignoring them. With that being the case we decided it was time to give them a shot for ourselves and see what they were really all about.
99Binary Review General Information
Website Address: http://www.99binary.com/
Company Launched: Mid-2013
US Traders Accepted: Yes
Account Currencies: USD, GBP, EUR
99Binary Minimum Deposit: 200
99Binary Deposit Bonus: 50-100% (Depending on Account Type)
99Binary Demo Account: Yes – Demo Available To Depositors
Trading Platform Technology: By Panda
Brand New Exclusive 99Binary Feature: Copy-Trading! (Read More Below)
99Binary Trading Platform and Features Review
99Binary has its weaknesses, just as any other broker does, but its trading platform is certainly not one of them (but we will get to those weaknesses later). No, this one belongs solidly in the “strengths” column. We traded at 99Binary for just under five weeks before closing out our account to test their withdrawal procedures and efficiency. And over the course of that five weeks, we really grew to quite like the trading platform and its features. And that was even before the introduction of the awesome new copy-trading feature.
As you can see, the platform has a nice, clean look and simple operation. We never had one issue with this easy-to-use platform during our stay there, and we found it to be fast and reliable as well. In addition to this solid foundation it also comes equipped with some great features, including copy-trading. They also offer the more rarely seen “Boundary” option contract, as well as one-touch options which can be traded whenever markets are open, instead of only on the weekends. The flip side of this is that there is no weekly one-touch options trading on the weekends. That is really the only potential drawback of this platform. But who knows, they could always add them later on.
Trading Platform Features and Highlights
- High/Low, 60-Second, Boundary and One-Touch (Daily) Binary Options
- Over 80 Underlying Assets To Choose From
- One-Touch Can Be Traded Whenever Markets Are Open
- “Latest Winners” Feature
- English, Russian, German and Arabic Languages Supported
- Return Rates: Up o 86% on Standard & 60-Second, Up To 350% on One-Touch
- 0-10% Refund Rates on OTM Trades
- Minimum Trade Size: $5
- Maximum Trade Size: $20,000 (one of the larger caps in the industry)
- Brand New, Exclusive 99Binary Copy-Trading Feature!
That brings us to the new (as of 1/30/2014) copy-trading feature being offered exclusively (in the binary industry that is) by 99Binary. This new feature allows anyone to profit from the successful trading of any other 99Binary trader. As a 99Binary client you can access the (anonymous) recent trading history data of anyone else trading on the system. You can just browse through the data and if you find someone who is “on fire,” or you just like their trading history/strategy, or whatever, you can simply click “copy.” When you do a new trade window will open up and give you the option to follow along or “copy” the person’s trade(s). This copy-trading idea is already popular with traders of other asset classes (i.e. forex, traditional options, etc.) and is a very cool feature. It is probably the biggest “selling-point” in 99Binary’s favor right now and we fully expect other brokers will eventually follow their lead on this one.
99Binary Education and Customer Service Review
This is another strong area for 99Binary. The strongest, maybe. Because when it comes to binary options educational materials and strategy resources, 99Binary may be the best in the business. This comes as a bit of a surprise because it is a fact which they barely advertise, and which can be easily missed. And that is because their best material is on a subdomain blog which is only linked to in the footer area. A mistake in our view. As far as their on-site resources it is about on par with most other top brokers. They have a basic “How To Trade” section for beginners, the standard ebook, and a video tutorials section, which is also pretty standard.
What you can see in the image above, however, is far from standard. It may be hard to find but once you’re in, you’ll be glad you are. This place is a gold mine for beginners, but there is also something here for traders of all experience levels. It is almost like an entire, stand-alone binary options strategy blog, run by 99Binary staff. It is the kind of place you bookmark and visit frequently.
In addition to the daily market news, analysis and commentary, you will also find a large amount of strategy articles, and educational material from a basic to an advanced level. We were truly surprised to find that there was actually a lot of quality material to be found, and even experienced binary options traders will find valuable insights here. No other broker that we know of operates anything of this caliber. Although we would certainly be interested to hear otherwise as we are always on the lookout for quality resources for binary options trading.
Customer Service Review
During our five-week stay with 99Binary we had occasion to make contact with their customer service representatives a total of four times, including our withdrawal request. Like most brokers these days they offer customer service through email, live-chat within the website, and phone numbers locally in many countries. We never contacted them through email so we can’t give you a response time there, but the live-chat response time during trading hours was always just a matter of seconds. They were consistently friendly and helpful during our service related contacts (consisting of made up problems for the sake of testing them). But more importantly, they were not too pushy or aggressive in trying to get us to cancel our withdrawal request, which can be a problem with some brokers. As a first-time withdrawal, the procedure took one week from request to receipt. About average in the industry for first-time withdrawals. Overall their service was just fine and we have no significant complaints.
Concluding Remarks About 99Binary
Looking at the complete picture we would now have to say that 99Binary is probably deserving of the attention they have been getting. Frankly we were taken by surprise while doing this 99Binary review because we did not go into it expecting to become a fan of the service, yet that’s exactly what happened. However, it is not all sunshine and butterflies over at 99Binary. No, there are at least a few things which we might put in the “cons” or “disadvantages” column.
- Many Major Languages Are Not Supported
- No Weekend Trading of Weekly One-Touch Options
- Less Contract Variety and Underlying Asset Selection Than Some Top Brokers
These few disadvantages, however, didn’t take much of anything away from our trading experience. I suppose it’s a problem for you if they don’t support your language. But you wouldn’t be reading this most likely if that’s the case. This was a surprisingly impressive platform and service that will easily be able to compete well with the “big boys” in the industry. And we are definitely curious to see how things go with the copy-trading concept. This will be the first new broker that we have added to our recommended list in quite some time.
Overall 99 Binary Options Review Rating = 8/10 = Very Good