Binarex is a new binary options exchange, developed by Tradologic and owned by Finex Securities Ltd. They are located at PO Box 1276, Port Vila, Vanuatu 014716. Email customer support is available via [email protected], and telephone support is at: United Kingdom +44 208 068 0918.
Binarex Review
Trading binary options on an exchange is a little different than what you may be use to with trading at a broker. The Binarex trading platform was developed by the binary options platform developer Tradologic. It has a very advanced charting feature which we are happy to see, with many abilities for us to change the setting to our personal preference. Underlying assets available now are Currency Pairs (12), Market Indices (5), Commodities (3) and Stocks (9). Expiry times are currently showing every 15 minutes of the hour. Mobile apps for iOS and Android are available for download.
An important thing you must understand is, every binary options contract is priced between $1 and $99.
For example: A call option that shows a price of 30, has the maximum potential gain of 70 (233%), and will cost $30.
Binary Option Exchanges charge commissions on each trade, and with Binarex the commission is $1.50 – $3 per trade. With binary options, paying a commission is actually a good thing, because many brokers are taking the other side of your trade and hoping that you lose. The reason people trade on an exchange is so that they experience a more fair trading environment.
The minimum deposit when opening your account is $250, and they are currently offering a few days of commission free trading for those who deposit over $500 initially.
Binarex License & Regulation
When we research and review new binary options exchanges and brokers, we always check to see if they are licensed and regulated. There are many benefits to trading with a licensed broker, read more.
Binarex is registered in Vanuatu and has applied to CySEC for a license. It looks like their long term plan is to get a CFTC license in the United States.
There are many binary option brokers to choose from but only a few a setup as an exchange.
Feedback: What was your experience like trading on the Binarex Binary Options Exchange? Please leave your review in the comments below.