BinaryTilt, a UK-domiciled binary options broker offering over 150 tradable assets
BinaryTilt is one of the strongest binary options brokers across almost all categories, let down only by onerous turnover requirements attached to bonuses offered which are an aberration against the backdrop of their general approach to customer satisfaction. However, clear due warning of conditions are provided. If traders decline bonuses they can consider the overall score 90/100 rather than 80/100.
Competition almost always works in favour of the end consumer and that has certainly been the case in the binary options trading market. The explosion in popularity of this simple, risk and loss controlled financial markets trading instrument has, inevitably, also led to a surge in the number of brokers seeking to attract traders onto their platform.
Choosing the right broker is a key component to an enjoyable and successful trading experience. Traders want to be able to focus on trading and not dealing with issues depositing or withdrawing funds or struggling to get to grips with a sub-standard trading platform. The tough competition between brokers for traders has boosted quality standards across the binary options trading industry. Technology has improved, a broader choice of assets and markets available to trade is available with many brokers, hidden charges on things like withdrawals are fading away and payouts are increasing. However, there is still a choice to be made by binary options traders and not every broker out there is a reputable custodian of trading account funds or offers the same level of product and service.
We’ve done our utmost to take much of the time out of assessing different binary options brokerage options by researching and compiling all of the information you need to know about a broker as a trader, from trading platform to service standard and terms and conditions. In this review we take a closer look at BinaryTilt.
BinaryTilt is a wholly-owned subsidiary of Chemmi Holdings Limited and has been building a reputation as one of the top binary options brokers since the company’s incorporation in 2013. The company was initially founded in New Zealand but is now domiciled in London.
While not technically regulated, with binary options trading still falling outside of financial regulatory regimes in the UK and Europe (though that is expected to change next year), BinaryTilt has a history of making changes to the way it works to comply with any concerns raised by financial regulators in the territories it operates. The broker has a good reputation with its traders and the wider binary options community and has kept its nose clean in terms of marketing itself in an ethical manner. Having aligned itself with CYSEC regulations in anticipation of impending regulation of the binary options industry, client funds and their reconciliations are also kept in segregated accounts and separated from the company’s financial operational auditing procedures.
To underline BinaryTilt’s positive reputation and approach, the broker was handed the 2016 Overall Customer Satisfaction award by industry media Binary Options Wire.
The SpotOption trading platform expertly treads the fine line between rich functionality in terms of trading tools and value-added resources while keeping the actual trading experience cleanly efficient. Among the more notable tools is the AI trading robot ‘Strategy Advisor’ which automates price trend forecasts on the basis of three fundamental technical indicators – Relative Strength Index, Moving Average and Bollinger Bands. These can be overlaid onto price charts either independently or in any combination of the three the trader opts for. Traders can also place in-chart orders with a single click.
The platform’s design and layout adheres to contemporary usability standards and is web-based so traders can log in to their account and trade from almost any device that supports a browser.
Demonstrated by the impressive statistic of now well over 5 million downloads across native Android and iOS apps, SpotOption’s mobile trading solution is first class and BinaryTilt’s clients will experience zero functionality and usability experience slippage when moving from desktop to mobile trading-on-th-go.
General running and order placement speeds are, strength of mobile internet connection permitting, exemplary and indistinguishable from those on the desktop platform. This is an issue on too many mobile trading apps so avoiding this pitfall, which may seem should be a given, is a major feather in the cap.
At one point the app had some issues when it came to syncing login details from accounts initially opened via the web-based platform but recent updates have smoothed this issue out leaving no real room for complaints. Widely considered one of the best mobile apps for binary options trading.
BinaryTilt provides traders with a rich choice of tradable assets across forex, commodities, equities and indices. Over all four asset classes there are more than 150 different tradable markets, one of the most diverse selections available in the binary options trading industry.
Currencies: AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/NZD, EUR/USD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/RUB, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/RUB, USD/SGD, USD/TRY, USD/ZAR
BinaryTilt traders have a choice between classical high/low binary options, super-short timeframe 60 second options and long-term options with expiries of between a few days and months. Additional innovative binary options formats One Touch and Ladder Options are also available. One Touch Options mean a target price only needs to be ‘touched’ by the underlying instrument’s price movement at any point over the duration of the option’s lifetime, regardless of where it finally finishes. Ladder options set ‘laddered’ price targets with the payout increasing based on how far up or down the ladder the price trajectory goes. Pairs is another binary options innovation introduced by SpotOption’s trading software. In ‘Pairs’, the trader takes an option out on how the price of two different assets move so one asset is essentially competing against the other to realise a payout for the trader.
For traders who want to mix binary options trading with traditions CFDs trading, the broker also offers a CFDs trading platform.
For the majority of binary options formats, BinaryTilt offers payouts of up to 85%, starting at 70%, for options finishing in the money. However, payouts on more speculative One Touch Options can go as high as 500% and to a giddy 1500% in the case of Ladder Options.
A $25, or equivalent in another base account currency, fee is applied to withdrawals exceeding the one free withdrawal supported per month. An additional $20, or equivalent, fee to compensate transfer costs if wire transfer is requested for withdrawals, rather than payment being made to a debit or credit card or via an e-payment service.
A $25, or equivalent, fee is charged for the maintenance of ‘dormant’ accounts, classified as accounts that have seen no trading activity in at least 6 months. If the balance available in the account is insufficient to meet this fee the account will be automatically closed.
Bonuses & VIP programs
BinaryTilt runs a deposit match bonus programme of between 20% and 100%, depending upon the size of the deposit made into the trading account. While bonuses are made at the discretion of the broker, both on initial and subsequent deposits, a trading account cash injection of $5000+ attracts a 100% bonus, scaling down to 20% for the minimum $250 deposit.
Bonuses do come with the condition that, if accepted, traders must realise x40 turnover of the value of the bonus before they are able to make a subsequent withdrawal. If a bonus is provided the trader is given the option of rejecting it if they do not wish their withdrawal rights to be influenced by the turnover conditions attached.
Deposits and withdrawals
Both deposits and withdrawals are supported by a range of payment processing options that cover almost every potential trader preference. Bank wire transfers, debit and credit card payments and most major e-payment processor companies are provided as choices. BinaryTilt supports seven different account base currencies, which, along with minimum deposit requirements in each currency, are as follows:
Great British Pound: £250
Australian Dollar: $350
Japanese Yen: ¥20,000
South African Rand: R3,500/4,000
Chinese Yuan: ¥1,500
Withdrawals are supported by the same payment processing options as deposits with minimum withdrawal levels set at 50 USD/GBP/CAD/EUR/AUD, 6500 JPY, 300 CNY and 650 ZAR.
All transactions are encrypted using SSL technology. Neither deposits nor withdrawals can be made from or to any third party that is not the account holder as per international anti-money laundering regulations.
As previously mentioned, BinaryTilt has an award-winning (2016 Overall Customer Satisfaction – Binary Options Wire) approach to customer service. A live chat window is always available to the bottom right of the screen on the company website or within the trading platform if any issues are encountered and telephone and email customer support is also provided. An extensive ‘FAQs’ section also covers all but the rarest questions that the broker’s clients may encounter.
Extra features and resources
BinaryTilt provides its platform’s traders with an extensive educational resource with literature and video materials covering binary options trading topics from beginner to advanced levels. A charting package and regular fundamental and technical markets analysis are also accessible along with trading strategies and tips.
BinaryTilt has built up a strong reputation on both the quality of its trading platform and in the way the broker approaches customer care. A strong approach to safeguarding trader funds through segregated accounts provides additional peace of mind. A good, solid option for any trader the only real criticism that can be levied at BinaryTilt is that the trade turnover conditions applied to bonuses are on the heavy side and reducing these in future would be a positive step.
Is BinaryTilt a Safe Broker?
BinaryTilt voluntarily adheres to CYSEC regulatory guidelines in preparation for expected regulation of the binary options trading industry in 2018. All client funds are segregated with Tier 1 banks from the company’s operational accounts.
What is BinaryTilt’s Minimum Deposit?
The minimum deposit required to open a binary options trading account with BinaryTilt is $250 or the equivalent in another of the account base currencies supported.
Where is BinaryTilt registered as a company?
BinaryTilt has moved from its original seat in New Zealand and is now domiciled to a London, UK address.