BNRY- Knowing BNRY and Its Inception
BNRY is a binary options broker which operates exclusively online. It has pierced through the binary options broking market quite fiercely and has made great impact on the way people trade. Binary options trading is quite calculative and deceptive, therefore, it becomes highly important for people to trade with someone who gives outright protection and offers a good return on investment. Most of the people have been victims of fraud brokers and this is why they do not easily want to trust trading websites. BNRY is one broker which has proven its reliability and has gained immense respect from all sorts of traders.
BNRY started off with its work in the year 2012 but in the year 2014 they had been transferred to new owners and managers. When new owners had taken over the management of BNRY it had to be kept out of operation for a few months. They are now operating full fledged since May 2015. K-DNA Financials Ltd. is the new owner of BNRY, it is a Cyprus based investment firm (CIF) and operates under license number 273/15. It is authorized by the Cyprus Securities and Exchange Commission (CYSEC) and provides financial services.
This trading broker provides a neat and clean trading website which looks very attractive. The information part does not fall heavy on the users’ eyes; therefore, they can access any portion of the website effortlessly. Their honesty is quite appreciated because of the fact that they waited for completely becoming a Cyprus Investment Firm (CIF) before beginning off with their operations in 2015.
In this review we will take you through the trading experience which you are going to get with BNRY and we will tell you every bit about its features which include trading platform, trading contracts, trading accounts, returns on investment and customer service department.
During its earlier stages, BNRY used to have SpotOption’s trading platform which is quite good but after the change in management they have moved on to TradeSmarter’s platform which is even better and is highly advanced.
TradeSmarter provides a trader with a technologically advanced and well laid out trading platform. The first and foremost thing about this platform is that it supports mobile trading as well. iOS and Android users are provided with a dedicated mobile trading app which makes it highly versatile and one can keep trading even on the go. The next important thing about this sophisticated trading platform is that it lets a trader change the view of the charts with a single click of the mouse buttons. It also lets a trader work socially with a single click.
TradeSmarter has been integrated with BNRY and it has worked out really well for them. There are many traders who have appreciated this move from the new management of BNRY. TradeSmarter is really quick and well laid out and makes trading a very smooth affair. Traders can also quickly access various types of trade contracts which are displayed on a single screen.
Trade contracts which are offered by BNRY
BNRY has been quite versatile with the number of trading types that it provides. There are 6 types of trading contracts which an investor can trade with. Here are the trading contracts which are offered by BNRY:
- High/Low Options: This is the first type of trading contract which is offered by BNRY. It is the most common trading contract which is offered by almost all brokers. Here a trader has to determine whether the price of an option is going to increase or decrease at the end of the expiry term of that option.
- Short term Options: The next trading type is Short term option, Here an investor needs to determine the price direction of an option for a very short expiry term. It includes 60 seconds options, 5 minutes options etc.
- Above/Below Option: Next up, they offer above/below option which includes determining the price of an option against another option.
- Touch Options: Touch options have a great return for the price invested as they are similar to gambling. Here a trader has to determine whether the price of an option will touch a certain range or not.
- No Touch Options: This is the penultimate type of contract which is offered by BNRY. It is also quite famous amongst investors.
- Range Option: The last type of contract includes range option. Here one has to determine the range of price of an option at the end of expiry term.
The last four options are offered under BNRY Pro (StrategiX) trading mode.
Trading Accounts on offer
Trading requires a trader to have a trading account. Trading account becomes the basis of management of every details of a trader. BNRY offers some good trading accounts which are exhaustive for a trader’s activities. Here is a brief outline of the trading accounts which can be used by an investor:
- Silver Account: The first type of trading account is the silver account. This account requires a minimum refundable deposit of $1000. A trader gets a personal account manager and an access to social features and advanced charts.
- Gold Account: This is the most preferred trading account for most of the traders. It requires a minimum refundable deposit of $3000. One gets an advanced trading kit plus all the features of the silver trading account. There is also a pending orders trading feature.
- Platinum Account: Next up is the platinum account which requires a minimum refundable deposit of $10000. It offers all the features of gold account, there is access to professionally prepared financial news and one also gets daily market reviews.
- Tailor Made Account: This is the last type of trading account which one can use. It is meant for people with advanced skills of trading. There is no minimum fixed deposit amount; there is plenty of enhanced flexibility as well. There is a trade protection of around 7.5-10%.
With these many trading account, an investor can work as per his capacity and gets optimum flexibility.
Payout Ratio and Asset Index
It is the lucrative returns figures which make a trader invest in binary options. BNRY has taken special care of this particular fact. It offers a payout ratio of around 81% on successful trades. There is also a rebate of 10-15% on the money traded. There is also a special feature which BNRY offers and it is known as “investment by payout”, what this feature does is that it lets investors tailor their investment amount as per the payout which they want to achieve.
This trader broker also provides traders with a great opportunity to trade in over 150 underlying assets which belong to various categories such as currencies, commodities, indices and stocks. One will never find himself in a position where he does not get the right product to trade on.
Managing funds on BNRY is quite simple and one will never find this task tedious. There are multiple methods to deposit and withdraw money and it is very easy. The minimum deposit amount (after first time deposit) is $100 and it can be done by credit card, debit card, Carte Blueue or Webmoney. If one wants to deposit via Wire transfer then a minimum deposit amount will stand nearly $500. To withdraw the bonus amount one has to trade 30 times the amount received as bonus. Bonus depends entirely on the amount deposited in the beginning.
Customer service department
The customer service department of BNRY is quite generous, it helps clients more than what they can ask for. You do not have to wait for a long time to get in touch with their executives. While most of the binary options brokers provide a customer service for 5 days a week, BNRY provides a 24×7 basis customer service. Investors can contact them through live chats, phone calls and emails as well. There is also a FAQ section which is quite helpful for most of the customer queries.
Here is the summary of the advantages of dealing with BNRY:
- There is a BNRY loyalty points program for the money traded and earned
- One can custom make his/her trading account
- “investment by payout” feature
- Candlestick and line graphs which no other broker provides
- There are more than 150 underlying assets to trade in
- TradeSmarter’s excellent trading platform
- Regulated under CySEC
These are the main advantages of BNRY and now let us check and see a few of the downsides of BNRY
There are a few disadvantages of BNRY as well:
- No multilingual support for customers
- People from some parts of the world are not accepted
Apart from these there are no disadvantages of BNRY.
To conclude, we would say that BNRY is an excellent binary options broker. It is regulated, provides maximum of the underlying assets to trade in and has a 24×7 customer support. This broker also lets a person have his custom made account for trading. Undoubtedly, they are providing some quality services.