Founded in 2011 and with headquarters in London, UK, uBinary is also part of the PTT Capital Group. Although the company headquarters are based in the UK, it is governed and incorporated by the laws of Belize. They are an unregulated broker currently but advise that they are waiting for CySEC regulation.
Whilst they are an unregulated, offshore broker the fact that they have been trading for 6 years make them a virtual veteran in the world of binary options and their personal service is something that they pride themselves on, offering customer support via phone which is a UK based number, email and live chat.
The company has built their own proprietary trading platform as opposed to many brokers who use the SpotOption platform, a platform which limits them to what they can offer traders. As with many brokers they have had to evolve their technology with the times and have a good mobile offering both in the form of an intuitive mobile website and an app for Android and iOS.
In this review, you will learn:
- All there is to know about uBinary features
- The bonus amounts available on the software
- Various account types, option types and payouts
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Five different trading accounts are on offer and each offers a unique bonus, plus client insurance and trader training, alongside other account specific perks and features.
The Micro Account requires you to make a deposit of between $250 and $499. This will reward you with a 20% bonus, a minimum $20 stake, plus 2 weeks of trading signals. Additionally, this account incurs a -5% penalty on the overall percentage payout.
This particular account requires a $500 to $999 deposit and offers a minimum $20 stake. Other perks include a 25% bonus, the chance to "Flip" an option (a high to a low or vice versa), an expert guided tour, a month's worth of trading signals and a "Buy Me Out" feature. It incurs a -5% penalty on the overall percentage payout.
Recommended for new traders, it requires a $1000 to $4999 deposit which includes a 30% bonus, a minimum $40 stake plus an on-going signal service. It also includes an expert guided platform tour plus access to the dealing desk. Included are "Buy Me Out" and "Flip" features, with no payout penalties.
Requires a $5,000 - $9,999 deposit and includes all features of the Standard Account though with better numbers. For instance, if minimum stake climbs to $15, bonus amount climbs to 40% and account holders qualify for a 5% all payouts increase.
The Platinum Account requires a minimum deposit of $10,000. Like the Gold account, it has all features of the Standard Account though with numbers which are higher than the Gold Account. Account holders enjoy a 10% increase on all payouts.
Trade Types And Payouts
The proprietary trading platform is a refreshing change since it's quite intuitive, fast and also packs some excellent features in it. When it comes to trade types, you are offered:
Also known as the Call/Put options these are the most popular types of options offered by brokers. You simply have to estimate whether the price will rise or fall by the chosen expiry time.
60 Second Options
60 Second or Short Term options allow the trader to trade bigger volumes in a short space of time. For traders who like to be able to react to the markets in real time the 60 Second option allows you to react to any changes in the market as they happen.
Long Term Options
Long Term options range from weeks to months with some brokers offering between one to five weeks and some brokers offering up to six months. uBinary offer the trader something called Option Builder which enables you to manage risk as well as reward even where your trade has proved unsuccessful.
As well as a range of account types, trade types and trading tools, uBinary provides you with one of the highest payout ratios in the industry with payouts of up to 95%. However, these payouts will depend on the trading account that you have signed up for.
Support is available via email, telephone and live chat 24 hours a day, 6 days a week.
Bonuses And Promotions
An attractive feature with uBinary is that you're offered a bonus that equates to between 30% and 50% of the size of your initial deposit which entirely depends on your investment amount. In order to withdraw the bonuses it is required that you trade the bonus a certain amount of times.
The guidelines of how many times you need to trade the bonus depend on the size of the bonus. For a 30% bonus you need to trade it 20 times, for a 40% bonus it's 30 times and for 50% bonus it is 40 times. However, you're advised to verify bonus requirements before signing up. Remember that you cannot withdraw your bonus amount until you meet the trading volume requirements.
Simplicity is the key point with the mobile app as the major markets and assets are available in the same app. Both the Android and iOS apps are free to download and use and they provide you with a straightforward trading experience.
The mobile app shares many of the features which you will find on the mobile website which is fully optimized to the device you are using. Of course the app is an extension of the web platform and the usual benefits of the app are of course the notifications and not having to sign-in every time you visit.
Deposits And Withdrawals
uBinary provides you with three main depositing methods; e-Wallets, credit cards and bank wire transfer. The processing time will vary between the three types with credit card transactions being instantaneous while bank wires take a few days to process.
When it comes to withdrawals there are two methods which are Bank Wire and Credit Cards. All you need to do is submit a request via the uBinary website. You are however advised that it may take up to three business days for your transaction to be completed.
There is no fee for making a withdrawal and you can withdraw as little as $50 every time but you must have a balance of at least $10 for your trading account to remain active.
A user friendly and cost effective trading platform with a zero direct commission structure designed for your busy needs is uBinary's forte. It sports a feature which lets you flip a trade at the click of a button. This broker has also introduced new kinds of options that are packed with longer expiry times and one-touch options in addition to the Option Builder.
The Option Builder is a dashboard-style platform allows you to view all necessary information to manage your account easily so you can focus on making the most effective trades. The trading platform has incorporated smart risk management tools that include "The Flip", "Buy Me Time" and "Buy Me Out".
uBinary offers you advanced charting features too. This is an exceptional service that professional traders can use to view longer time frames on their charts or even add indicators and studies so as to create a trading strategy. The trading platform is available in three different forms; a web platform, plus the Android and Apple IOS apps.
Customer support is available via email, telephone and live chat 24 hours a day, 6 days a week although the sixth day is not as reliable outside of normal trading hours. With informative and friendly customer service for traders plus those looking for information concerning trading, the firm also provides multi-language support.
There is dedicated account management as well with swift staff, in fact you're likely to receive a call when registering in order to assist you in selecting an account type. The entire customer support team at uBinary is quite attentive to traders, which is reassuring when you are considering investing your money with this broker.
Here are the contact details for uBinary:
The platform is very easy to master and it offers you enough popular assets so you can have numerous trading options which won't overwhelm you with stock assets that you aren't looking for. The intuitive trading platform, personalized one-on-one coaching and exceptional service will suit new traders as well as the more experienced traders.
The high payouts offered make uBinary a good choice for you and with the number of perks on offer like signals, access to the trading desk and the risk management instruments which are unique to uBinary, this broker is definitely worth checking out. Overall, uBinary have really earned the reputation they have got.
Frequently Asked Questions
Is uBinary legit, will they scam me?
The fact that they have been trading successfully since 2011 should reassure traders that, despite their lack of regulation, they are in fact very trustworthy.
Do they have a decent mobile or tablet app?
As well as having an app for both Android and iOS devices the mobile website that uBinary offer is also fully optimised. So you can trade on the move with both the app and the mobile website.
What bonus do they offer for new traders?
The bonus offered to new traders depends entirely on how much deposit you are making and ranges from 30% - 50%.
Can I start trading on a free demo account?
Whilst the uBinary platform does not offer you a demo account you do have access to visit the trading room without making a deposit to familiarise yourself with the platform before you commit to trading with them.
What's the minimum deposit and trade amount?
The Mini Account is the entry level and commands a $250 deposit. The minimum trade amount depends on the account that you hold.
Shelly is proud of her current position as Head of Brand for a well-known organisation that owns several brokerages in the trading sector. She’s consulted for us since 2015 and readers can benefit from her insider knowledge of how brokers work. Learn more.