10Trade only came into existence in 2014, yet despite being new to the binary options trading it is already establishing a reputation as an easy to use, competitive and reliable option. 10Trade business has chosen to register itself in Cyprus and adhere to the strict CySEC regulations. Its approach is simple, but effective; provide all customers with a wide range of options in a basic package; this allows anyone to use the software regardless of their language.
The site runs on the very popular SpotOption software which underpins the vast majority of binary option broker sites. They offer an 81% return on investment, with minimum investments of $10 and maximum if $5,000. To open an account you will need to deposit at least $200 with them.
- They have chosen to regulate themselves and are regulated by CySEC, the primary regulator of binary options brokers; based in Cyprus and comply with European Union financial controls.
- Wide range of options available for each account holder.
- Very simple to use and intuitive customer interface
- Strong protection policies to ensure users are safe.
- Currently no mobile application which means it is more difficult to track your trades whilst on the move.
- Not able to accept accounts from anyone resident in the USA, Australia, Canada, New Zealand, Japan, Israel and South Africa.
- One of the strongest features and reasons to trade with this broker is the fact that they have voluntarily registered with CySEC. This means your funds will be safe even if the broker fails.
- They are aggressively expanding as evidenced by their constant upgrades and improvements on their site. Each change is in response to the binary options market demands and is designed to make the experience better for their account holders.
- The mobile trading app is on its way! Latest news from the broker suggests the app should be here within the next few months. Any new feature will automatically be available to existing account holders without needing to do anything!
- An impressive education centre which is designed to inspire every trader, no matter what level of experience they have. These include one on one training, videos and even webinars.
- An investment return policy has been offered by this business which refunds a portion of an investors trades which end up out of the money. This will help to reduce the risk involved in binary options trading.
The site is set up to be as user friendly as possible, information is color coded to ensure you can access what you need quickly and efficiently. Information can be displayed in moments, enabling you to make the right decision and invest your funds. Even the Reuter’s news is displayed across the screen to help you know what the markets are doing before you commit to a trade.
You can choose to trade in a variety of options, including sixty second trades, one touch option, the ladder and even pairs trading. You can trade on almost every asset you can think of, including stocks, currency pairs, indices and commodities. There is something which will appeal to everyone!
Additional extras include a rollover option; this allows you to extend the deadline of your trade, or, you can double up your trade to increase your chances of returning some profit.
The customer service was excellent; you can contact them via email, the phone or via live chat on their website. They are professional, polite and knowledgeable. They will respond quickly to your queries, even if you are calling in a language other than English; their support team can deal with queries in a multitude of languages.
Security and data safety are clearly an important factor in the way this business operates. This is emphasized by the identification process they currently operate which ensures only you can access your funds. The banking part of the system is easy to follow and, once your account details are stored in their secure servers, you can deposit or withdraw fund with a few clicks of the mouse. They accept deposits via Skrill, eWallet, Bitcoin, iDeal and a range of debit and credit cards. The time taken for funds to be transferred will vary according to the payment method you have used.
Part of the regulations which governs them includes the payment of funds into a compensation fund which can be made available to traders if the broker becomes insolvent.
There are still several areas which need to be improved, in particular the ability to access the site whilst mobile. However, it is a new arrival on the binary options market and needs to improve parts of its service while expanding some of the other bits of the system. However, the offering that is already in place, combined with its willingness to register show that, not only does the business have a lot of potential, it is also likely to expand and improve rapidly, possibly becoming one of the main player s in the binary options trading market.