Bloombex Options is a veteran among binary options brokers. It has been around since 2009 and was one of the first brokers in the market. They use SpotOption’s reliable platform and they offer a wide range of tradable assets. They also take customers from the USA, Singapore, Japan, Israel and from almost all other countries. Bloombex is not licensed by CySEC or any other regulatory body like Malta Gaming Authority but that is not an issue, since Bloombex is one of the most reputable broker sites there is. They are, for example, offering risk free trades with bigger upper limits and with better terms than almost any other broker. You can also use the binary option robotsignal services with Bloombex.
Bloombex Options Full Video Review
To open an account in Bloombex click the button below the video
Expiry times: 60 seconds, 5 minutes, 15 minutes, hourly, daily, weekly, end of the month and end of the year
Deposit options: Multiple credit cards, Visa, Mastercard, bank wire transfer, Paypal, Skrill and Moneybookers
Bloombex offers bonuses up to 100% for the first deposit bonus. The minimum deposit needs to be quite high, $1,000 at least, but you are able to participate in a campaign where you get to trade for one week risk free that will compensate this a little bit. It means that every trade made within that first week, the trader collects the winnings and profits as usual, but in case of losses Bloombex will credit your account back to the initial deposit size (up to $ 5,000). This is a huge benefit worth thousands of dollars and allows traders to start investing with full intensity right from the beginning. Within a week, you can make a lot of trades and as your possible losses are taken care of, you can only make profits within that time. A bonus will have to be circulated 27 times to be able to be withdrawn. This a regular condition among brokers.
At this moment Bloombex is not offering demo accounts but the first week of risk free trades is actually an even better way to go. In the same time that you would practice with a play money account you can make actual profits without the risk of losing any money on trades. During the first seven days all losses are fully refunded up to the amount of your initial deposit. This seven day period is definitely a better option than just training with a demo account.
Features of the Broker site
The number and variety of assets is about average for the sites that we have reviewed. Bloombex offers over 100 tradable assets including the stocks of the most well-known companies around the globe and indices from various industries of different stock markets. Their list of tradable commodities is wider than average including the basic ones such as gold, silver and oil but also some that are rarely seen such as wheat, platinum, sugar and coffee.
Bloombex has added some features to the platform that not all brokers are providing. With ladder and one touch options possible return rates can rise as high as 550%. Ladder option trading is somewhat more complex but with a good strategy the profits of this option type can get even higher than with one touch. (If you want to learn more about trading strategies I recommend you have a look at our binary options advanced guide.) Some brokers have limited the payout of those option types to somewhere between 200% and 300%. Knowing that, these Bloombex payouts are excellent.
The average payouts for regular binary options are still around 80%, going up to 85%, which is a very good return rate for a single trade.
Expiry times vary between 30 seconds in the “sixty second” short term category, up to the long term option category end of the year expiry. There are actually even longer term options, which expire after a year, but I do not recommend using those, since you have to tie up your funds for a such a long period.
One of the most interesting features is Bloombex Follow, where top traders and their past success are listed. And you, as a trader have an opportunity to put your future trades to copy theirs, and therefore get part of their success. It is one of the most effective ways for a new trader to learn and make profits right from the get go. In my own test, I found that this works quite well (better than I expected for sure) I made a significant profit in a day, without putting any effort into trading myself.
If the initial deposit is $2,000 or more, Bloombex offers a free binary options signal service to traders. Those signals are inside views from professional traders, you get to see exactly what they think of market developments and events that affect the prices of assets. Signals are helpful especially for beginners but even more experienced traders can gain confidence from those to pull the final trigger in a trade they have previously been a little hesitant about.
How to Trade with Bloombex
Bloombex Options trading platform is very easy and straight forward to use. Asset selection is wide enough to find assets for every situation. The only thing you need to do after that is to choose if that assets value will rise or fall and decide within what timeframe. With over 100 assets and multiple expires, the number of different variations are almost unlimited.
The SpotOption platform is one of the most used and trusted platforms in the binary options market, especially known for its reliability. Bloombex offers the following option types:
With Forex/CFD products there is a possibility to use leverage. The leverage can be adjusted between 1:250 and 1:500. This also increases the risk of the investment in the same ratio that it increases the possible profits. Fortunately, there is stop loss/investment that will limit the possible losses of each trade if the value of the asset is about to fall too much. Using leverage is a great way to get maximum profits from a good situation, even if you are a little short of cash.
These features allow traders to build risk adjusted portfolios and divide total risk between multiple assets, markets and time frames. It will lead to the best possible outcome and is my preferred personal method. You should always use possible derivatives and other options that are available to hedge your portfolio, instead of putting all your eggs in one basket.
The minimum trade is $20 and maximum is $3,500 for regular options which is higher than what most competitors are offering.
Educational Material and Tools
Bloombex offers eBooks, a FAQ page, a demo tour video tutorial, and trading academy web tutorials for better trading and education. In the academy, there is six courses for beginners, and eight advanced trading courses. In totally there are 15 courses for the platform, three in-depth courses, two advanced in-depth courses, a binary eBook, a platform eBook and an advanced binary eBook. Therefore, the material is incredibly wide and covers everything that a novice trader needs to educate themselves.
If you are not interested in learning, and reading through the materials is not what you are looking for, there is a fully automated option available: binary option robot, which will help you to trade more profitably with less work. or best auto trader software will do automated trading according to given parameters. This helps you to handle your tasks quicker and trade even when you cannot access a computer or do not have time to make trades manually, now this awesome options trading software is available completely free for all our readers.
Claim your free robot now by clicking on the button below!
SpotOption is known for its user-friendly mobile platform, many traders have praised its features and this is also the case with Bloombex options. With mobile platforms, you can access your account and make trades from anywhere. The Bloombex app is very handy and has a clear user interface and buttons. The mobile version can be downloaded through the App Store and Google Play and requires only the login information from when you set up your account, which must be done prior. You can easily create your account through the “Open A Free Account” button on this page.
Is Bloombex a Scam or a Proper Broker?
Bloombex is not a regulated broker. But we don’t think that is an issue as they have been around for years and have an excellent reputation among professional traders. This is a clear signal that most things have been done right. As we have been reviewing this broker we have not met any suspicious signs, instead everything seems to be done with excellence being the goal. The SpotOption trading platform is another sign of a trusted broker since they are relying on the best service provider in the industry. Our conclusion is that Bloombex is not a scam and is an excellent broker site.
The site itself offers 10 language options including: English, Italian, Russian, Spanish, German, Dutch, Japanese, Arabic, Turkish and French. Phone numbers are provided for 9 countries, there are live chat services on the site in real time and there is also contact information for those who want to reach customer support and account managers via email.
There are several withdrawal and deposit methods including Paypal, which is one the most popular net payment solutions. Other options supported include MoneyBookers, regular wire transfers and several credit cards such as Visa, Mastercard etc. Traders pay a small handling fee for withdrawals, as usual.
Bloombex options is a trusted broker site with plenty of tradable assets, good education services and materials, and customer service and support with multiple languages. Their useful features will help traders to make better trades, examples of this are the market reviews and news section. Licensed or not, Bloombex options is not a scam broker but a trustworthy and premium broker site. We proudly recommend their services to all traders from beginners to advanced.
Overall review we will give Bloombex options 4,5 stars out of 5 as binary options broker site.
Open an account to start trading with Bloombex options!
Michael Allen is the main author at www.binaryoptionrobotinfo.com. He holds a PhD in Economics and has worked in investment banking for 24 years.
View all posts by Michael Allen
Recommended Free Binary Option Auto Traders
Get the best binary option robot – Option Robot – for free by clicking on the button below. Our exclusive offer: Free demo account! See how profitable the Option Robot is before investing with real money!