UBinary- Who is UBinary?
UBinary is a binary options broker which offers a completely refreshed trading platform for the investors to trade with. Most of the binary options brokers use more or less the same trading platforms which may be SpotOption or Tradologic but UBinary has gone a step ahead and is providing traders with an in house trading platform known as ParagonEX. The new trading platform coupled with a great service department for customers has helped UBinary gain plenty of appreciation from traders of all sorts.
This binary options broker was established in the year 2011 by a team of professionals who have had great expertise in the field of trading. www.ubinary.com is their official website and they are being efficiently headquartered from London. UBinary has gone through plenty of tweaks and changes since its inception and this has resulted in a better and highly advanced trading website.
UBinary’s Dynamic Website
It is exclusively a website based trading broker and is available for Windows platform. The trading platform is multiple languages based and is available in languages like English, Arabic and Russian. Their website is well built and provides free of cost training to beginners as well as experts in trading. One more interesting thing which we found about the website was that they provide events calendar as well, what this does is that it lets visitors take a sneak peek of the most important events lined up. One can, therefore, trade accordingly as per the events on that particular day.
Let us further take you through the trading platform of UBinary, we will also tell you about the trading contracts which it offers and the trading accounts which you choose to deal with. At the end we will sum it up with the pros, cons and customer service which you expect from this binary options broker.
Trading Platform offered by UBinary
UBinary has come up with an all new trading platform; it is an in-house developed trading platform and covers all areas of trading and its management. There are plenty of other brokers who use a third party trading platform like Tradologic, Tech Financial or SpotOption. No matter these platforms are excellent but the problem is that it does not give a broker the freedom to alter and optimize trading tools as much as an in-house developed platform lets. The ParagonEX trading platform, which is a proprietary platform of UBinary is highly sophisticated, solid and seriously fast. Here is a look at some of the features and advantages of this trading platform:
- The flip feature: This feature is a risk management tool offered by ParagonEX. This lets a trader change the direction of the trade if it is not favoring. An investor needs to pay small amount of fee and can change the direction of the trade.
- The Buy me time feature: This is another risk management tool which lets the investor increase the length of trade if it is not being beneficial initially.
- Buy me out feature: This feature lets a trader close a trade early if it is not performing well enough.
- There are advanced charting features as well
- It is in-house developed to make trading highly efficient
- Traders can study charts and then make an analysis and trade further.
These many features and advantages make ParagonEX well suited for all the traders around.
Trading accounts let a trader choose the investment and scale of trading which he/she wants. UBinary has 5 trading accounts which make trading very much versatile. These accounts provide free of cost training, personal accounts manager and trade protection insurance. Let us check out these trading accounts one by one:
- Micro Account: This account can be operated with a minimum deposit of just $20; it gives a bonus of 20% on first time deposit. One gets free trading signals for 14 days. The payout ratio varies around 70% on successful trades.
- Mini Account: The next type of account is mini account. This account is also meant for beginners just like the micro account. Here one needs to deposit a minimum of $20. The first time deposit bonus is 25%.One gets access to free training, free signals for 30 days, advanced guides, features of ParagonEX and a payout ratio of about 75%.
- Standard Account: This is the most preferred trading account. It requires a minimum deposit of $40. One gets a 30% first time deposit bonus. It comes with all the features and facilities of Mini Account and provides a payout ratio of around 80% on successful trades.
- Gold Account: This is an account which is meant for seasoned traders, it requires a minimum deposit of $150. The first time deposit bonus is fixed at 40%. Here one gets unlimited free signals. There are features of standard account and one gets a payout of around 90%.
- Platinum Account: This is the flagship account at UBinary. It is again meant for expert traders. This account requires a minimum deposit of $250 and the first time bonus can be as high as $5000. It includes all the features of gold account and the payout ratio can be as high as 95%.
These many trading accounts let the investor have freedom of trading. These accounts do not demand a high investment and therefore most of the traders can invest their funds with UBinary.
Trading contracts or trading types as they commonly known, let a trader choose the expiry time and investment amount and other factors based on their functioning. UBinary has been quite generous to offer 5 types of trading contracts to its investors:
- Above/Below options: The first type of trading contract involves traders determining the direction of price of an option at the end of the expiry term. Here trader will have to determine whether the price will stay above or below a certain strike price.
- 60 seconds options: These options are quite fast in nature as they expire in 60 seconds. People who have good amount of experience in the trading field generally choose to go for 60 seconds options. These are rewarding but have risk element as well.
- Speed trading: This type of trading is quite similar to 60 seconds trading, but here the expiry time varies between 2-5 minutes. This is also preferred by many seasoned traders.
- Option Builder: Option builder lets a trader customize his/her trade and here the element of risk and reward is quite balanced.
- Long term Options: These are the most common type of options where people invest their money. The risk factor is minimal here and the profit is also less. One can expect steady flow of income with these options.
These are the various trading types which a person can trade in using UBinary.
Fund Management and Reliability
In terms of fund management, UBinary offers quite a few alternatives to deposit and withdraw money. This means that none of the traders have to face difficulties while transferring their funds back to bank accounts or even while making new investments. The following are the sources of withdrawing and depositing money:
- Credit card
- Debit card
- Bank wire transfer
These were the sources of depositing and withdrawing funds and now coming to the reliability, well, UBinary has its own trading platform, it offers a safe trading environment, and it also guarantees timely payments. The technology used by UBinary is excellent and has been made keeping easy trading processes in mind. A person does not even need to worry about his/her passwords and accounts as everything is protected with various security tools to prevent information theft by hackers.
Talking about the customer support department, well it is quite helpful and provides customer service 24×6. One can reach out to the customer service department via telephone, emails and live chats. They provide customer services in multiple major languages.
Here is a summary of the major advantages which one will get using UBinary:
- There are 5 accounts which are well selected so as to make investing easy and cheap.
- 5 trade types which make trading versatile
- A proprietary trading platform to meet the needs of investors
- Great customer support which is also multilingual
- Free of cost education as well
Now let us tell you a bit about a couple of cons of UBinary
Here are a few cons of UBinary:
- Not a 24×7 customer service department
- They do not offer one touch trading options
- High profile investors might stay away
Apart from these there are no other problems with UBinary.
To conclude we would definitely recommend UBinary as your trading broker. It provides high tech platform which makes trading easy and efficient. There are various trade types and contracts to choose from and the payout ratio is excellent. One can reach out to a helpful customer service department easily. It won’t a big surprise if we see UBinary making into the list of top brokers in the near future.