TopBinary.com, a new website for trading in binary options, has launched operations, the broker said on Thursday. It is based and regulated in Cyprus and will operate within the EU. However, the broker intends to expand in 2017 with branches in Singapore for the Asian market and in Sao Paulo for investors in South America.
The broker offers trading in currency pairs, shares, and commodities via three types of accounts – Mini, Top, and VIP accounts. The minimum trade value starts from $15 for Mini accounts and reaches up to $500 for VIP accounts.
Traders can open a Mini account with as little as $250, which is standard for the industry. The account has the bare basic features – it offers access to trading tools, weekly market report, and basic video courses. However, TopBinary’s other two accounts, Top and VIP, are more advanced and with higher requirements for opening and maintaining. Traders need to deposit at least $2,000 for a Top account and $50,000 for a VIP account. Holders of the more advanced accounts receive bonuses of up to 100% of the amount they deposit and a set of trading strategies. More details follow:
TopBroker also offers educational tools and services, positioning itself as a good choice for novice traders. It also presents a personal manager who guides traders.
“Compared to other brokerage houses, adding value for our customers is our maximum focus. Each trader is assigned a personal broker and, if needs be, is also given the opportunity to meet with the stock analyst in person. Everyone who decides to trade in binary options with us can expect our full support from the very beginning,” said TopBinary’s press agent as cites in a press release.
In binary options trading, investors guess whether the price of a certain instrument would go upwards or downwards within a pre-determined time frame. Once the time is up, the option is deemed expired and the bet is settled. Depending on the outcome, a trader either collects a profit, or loses money.
TopBinary is a trading name of Goldenburg Group Ltd., an entity that holds a license from the Cyprus Securities and Exchange Commission (CySEC) for financial and ancillary services. The company operates several other website for financial services – www.goldenburggroup.eu, www.topforex.com, www.toptrader.eu, www.fxglobal.com, www.tradecentrum.com, and www.etrader.eu.
Although the broker markets itself as a EU binary options broker, it would be hard for it to expand in Europe, given most regulatory bodies in Europe’s standpoint regarding binary options in the recent months. Under the Israeli jurisdiction binary options are fully prohibited. France and the Netherlands are in the process of developing bills that would prohibit the advertisement of risky instruments and Germany is also considering the possibility, but has not made any steps as of now. Belgium banned from 18 August the distribution via online channels of over-the-counter (OTC) binary options, spot forex, and CFDs with leverage.