Since the advent of Binary options trading close to a decade ago, online trading has never been the same. Being unregulated, it was first met with curiosity and suspicion which gradually turned into interest, and eventually into popularity as governments started regulating brokers. Perhaps to cash in on the growing number of traders interested in the binary options trade, more and more binary brokers started up, each with its own crazy bonuses and payouts. Most of the brokers offering unrealistic returns turned out to be scams, with traders finding out the hard way. This resulted in a public outcry for governments to start regulating the brokers so as to safeguard their investments. Coming back to the point, uBinary is one among hundreds, if not thousands of binary options brokers. uBinary was founded in 2011 and is operated by UB Innovation Limited which has its head offices located in Majuro, Marshall Islands. The headquarters of uBinary are however located in London, England.
Open a free uBinary account by clicking on the button below!
uBinary, was founded in 2011, and has with more than sixty assets in global markets, it is a decent site with great potential and an objective of making your options trading as smooth and profitable as possible. uBinary wishes to reassure traders that the returns are far greater than the risks. You are unlikely to find grammatical mistakes or broken links on their website which has a classy, professional feel to it. For anyone planning to invest in binary options and make money while at it, uBinary offers you the trading platform, with some new twists. New traders with limited experience in binary options trading are also catered for, as uBinary has a training program where you can learn about binary options, the terminologies you are likely to come across while trading and also the basics of trading. This is through its high quality free trading guide and free coaching sessions.
It is assumed that the readers of this review are already familiar with the binary options trade and are actively looking for a legit, quality broker to invest with.
Licensing and Regulation
Due to bad experiences with scam brokers, traders require assurance that their money is safe and secure before they join any brokerage firm. The most important parameter of legitimacy is being licensed by at least one (or more, the more the better) of the internationally renowned financial services regulators. uBinary are not currently regulated but are in the process of obtaining a license from the critically acclaimed Cypress Securities Exchange Commission meaning that it has already met the stringent European Union financial services requirements.
How uBinary works.
To better understand how a binary options broker functions, there are several things to look for. Their trading platform, interface, bonus system, account types and registration processes are just some of the things that give some perspective into the workings of a binary options broker. Below is some in-depth information about how uBinary works.
The best and most important feature of uBinary is their unique trade platform tools which have been developed in-house by their technical team. The uBinary platform not only matches those of the other popular brokerage firms but also exceeds expectations. With this innovative platform, the trading possibilities are endless. The platform basically offers three trade tools which are commonly referred to as the ‘Holy Trilogy’. The platform’s tools, which are unique and can only be found on uBinary are the Flip, Buy Me Out and Buy Me Time. Seasoned traders may find these similar in function to tools such as Rollover and Close Early which are found in other brokerage firms. Buy Me Out typically gives the traders the options of closing out a trade earlier if their predictions are off the mark or appear unlikely. The trader also has the freedom of switching to more profitable assets at any time if they so wish. While this practice is standard in most binary options trading platforms, Buy Me Out has that extra polish by being one of uBinary’s trilogy of awesomeness.
Buy Me Out is the second trade tool in the platform. While being very much similar to the traditional Rollover tool, it comes with fresh and improved functionality, the traders are made aware of the costs and potential returns on their investment before they enter any trade. With this, there are no unnecessary worries, just a great chance of making a fortune!
uBinary’s winning tool, however, is the Flip. This unique and innovative never seen before tool is exclusive to uBinary. In simple terms, the Flip allows you to change your option even if you have already made a trade. Yeah, thanks to the Flip, you can change your mind anytime even in the middle of a trade. For example, if in Gold you chose the ‘above’ option, and it later dawns on you that you made the wrong choice, and you believe the trade will end below, you simply click on the Flip button and change your options. This great tool actually gives you crazy chances of making big money. If only it was available in other platforms.
In summary, the uBinary platform is efficient, cheap to maintain with unbelievable simplicity topped up with an excellent no commission policy.
Opening an account with uBinary is pretty quick and easy, you just need to go to their website (www.binary.com) and click on ‘get started’ then select the type of account you want to open, fill in some personal information which will include your name, address, telephone number and email address. The next step is to create a password, then make a deposit and you’re good to go. For withdrawals, you will be required to provide your bank or credit card details, a recent color picture of yourself, a utility bill addressed to you and for credit card holders, the information on both sides of the card. This is in accordance with existing financial services laws and is for your own security.
Deposits can be made through one of various methods such as from your bank, credit cards (MasterCard, Visa, Maestro among others) or through bank wire transfer. When the setup is done and you are ready to trade, you will be contacted by your personal uBinary broker and educational materials will be made available to you.
Account Types Available
There are several account types available in the uBinary platform. Though each account has its own special features, free training and trader protection insurance is offered with all the accounts. Also, there is no special maintenance fees charged for all the account types. There are currently no demo accounts available in uBinary. The five different account types are listed below.
Micro account – This is the most basic account on the platform, with a minimum deposit amount of $20. The Micro account has goodies such as a 20% bonus on the deposit, payouts of up to 70% and free 80% accurate uBinary signals for two weeks. New traders or those who have not yet made up their minds on whether to stay with uBinary or not are advised to start with this account.
Mini Account – Like the Micro account, the minimum deposit here is $20 with a 25% bonus. It differs from the Micro account in that its package includes an advanced training guide, 75% payout amounts and free uBinary signals for a month. This account offers the amazing Flip and Buy Me Out options.
Standard Account – In many brokerages firms, the Standard account is the account of the middle ground and is hands down the most popular among traders. This is the account for all types of traders, who have basic knowledge of the platform. To open a Standard account, you will be required to make a deposit of at least $40 for which you will get a 30% bonus. Apart from the advanced trading guide and all the three trading tools, you get your own personal broker to work with in all your trades. It offers great payout amounts of about 80% with free uBinary signals for an unlimited period.
Gold Account – This account is designed for the experienced trader, the Gold account puts you back $150 in terms of an initial deposit with a decent 40% bonus. Other features include the expected advanced trading guide, a personal broker and unlimited access to uBinary signals. The Gold account will give you absolutely great payouts of 90%!
Platinum Account – The most prestigious account in the platform will require you to make a minimum deposit of $250 with the bonuses going up to $5000! As the standard practice at uBinary, for semi-professional trader accounts, it comes with a personal broker, an advanced trading guide and some awesome payouts of up to 95%.
Trading with the Interface
The trading platform used by uBinary is uncomplicated, relatively easy to use. It provides quick, safe and smooth trading with no issues and a user-friendly trading interface. The platform is in simple, clear and concise language with clients having the freedom to choose their preferred language. There are absolutely no annoying pop ups, irritating banners and dead end links, the site only contains relevant trade information such as assets, prices, winnings and losses. The site layout is such that everything is laid out clearly with the top part of the site carrying all the trading options and information about where you can select the tool you want to use and the trades you want to take part in. The bottom part contains options such as contact information and frequently asked questions. Information on open and closed trades can be found at the bottom also. This helps traders to monitor their trading activities all through the day. General information about the site is also found at the bottom of the page. You have the choice of two drop down layouts which you can choose by clicking on the icon at the top right. The first shows four windows arranged side by side while the second layout is simply a single large chart showing the performance of your favorite assets.
uBinary is not left behind in the high/low trade option, which is the most common in binary trading. They give their traders a wide range of assets to choose from, more than sixty in the form of currencies, commodities, indices and stocks. The payouts while dependent on the account type also depend on the asset traded in and the amount invested. The expiry periods you can choose from are 60 minutes, 15 minutes, 30 minutes, 1 hour and the end of day.
What are the Other Important Features to be Found on uBinary?
High payouts – The amount of returns a trader is likely to get on his investment is the first thing he looks at, very few will actually be interested in a broker who pays lower than average returns. The more attractive the returns are, the greater the interest it will attract from clients. The team behind uBinary is aware of this and has payouts ranging from 70% to 93% which are among the highest you will come across in the binary options market. The probability of making a winning trade on uBinary, at above 85%, is higher than with other binary options brokers. Make a trade now and you could make thousands in profit in a single trading day, thanks to the amazing accuracy uBinary offers you.
Bonuses and promotions – The downside of the broker not having free demo accounts, as is the norm, is offset by the great deposit bonuses they award to new clients. For inexperienced traders, you are advised to make a deposit, get the bonus and then use it to trade while also learning the ropes of trading. This will allow you to also get to learn and try out new strategies. This is a great way to familiarize yourself with the binary options trade while using little to none of your deposit money. And if you are lucky, which you most likely will be, you’ll make good money in payouts and add to your deposit, just from trading your bonus!
Apart from the account bonuses, uBinary runs different promotions in which traders have a chance of winning great amounts of real money or bonuses. Some promotions are:
The 100% Deposit Bonus Promotion – This promotion credits your trading account with 100% of the first amount you deposited into your account. This, for instance, means that if your first deposit was $100, you will get an $100 bonus when you make a request to uBinary for it. However, to withdraw the bonus, you will need to meet uBinary’s trade turnover requirement which is 20 times the sum of the bonus and the deposit. This requirement is common to all brokerage firms dealing in binary options and is intended to discourage traders from signing up just to get the bonus then leaving.
First Deposit 30% Bonus Promotion– As its name suggests, the trader receives a 30% bonus on their first deposit upon making a request to the broker. As a general rule with all binary options, to request a withdrawal, you must make a trading turnover of about 30 times the bonus amount.
TheuBinary Top Five Traders Promotion – Here, uBinary actually awards and gives recognition to their biggest winners. Basically, the top five winners in a specific period get their names and nationalities shown on the uBinary website and also have great opportunities to rake in trade profits of up to 95%, which is a very high rate, and very rare in the binary options market.
Asset Index –With their assets which include all the major world currency pairs, stocks of big companies and corporations, indices and market commodities, uBinary has gone out of its way to offer its clients an experience like no other. Although the asset index is quite small compared to the other binary options brokers, they include stocks of large and highly successful companies like Facebook, which are very popular in the securities exchange. From the look of things, uBinary goes for quality of the stocks it deals in over quantity, which is a good deal for the trader.
To traders, the security and ease of transactions offered by a brokerage firm’s banking system is what can make them either sign up with them or dismiss them as a scam. uBinary puts great efforts into obtaining and maintaining the trust of their clients. Their banking software uses the SSL Encryption, recommended by the European Union finance laws, and which is commonly used by reputable financial services players like banks and government agencies. SSL monitors transactions and most importantly encrypts trader information to eliminate the chance of it getting into the wrong hands. This serves as an assurance to the traders that their money is safe and as such increases their confidence so they can focus more on trading and making profits.
The ease of withdrawal of earnings and making deposits, as mentioned, is one of a trader’s major concerns. uBinary has partnered with various credit card providers and banks to make transactions as stress-free and prompt as possible. You can deposit to your trading account using your credit or debit card, Ucash or straight from your bank account (bank wire). Credit cards accepted include MasterCard, Visa, American Express and Maestro to name just a few.
When withdrawing money from your account, you will need to provide uBinary with copies of the following documents: national identity card or valid passport, a recent (less than three months old) utility bill with your name, and the front and back details of your credit card. You are advised to hide all the numbers except the last four on your card to prevent fraudsters from abusing your card. The documents are sent via email to firstname.lastname@example.org to verify your details.
The minimum withdrawal amount is $50.
The minimum withdrawal amount is $50.
As has become the norm in binary options trading, the software used by uBinary is 100% web-based which means you won’t have to download large files to your device. Web-based software offers great opportunities for new software updates which the trader won’t be required to pay for. Traders also have the flexibility of accessing their accounts and making trades on the go from all over the world, from any device with an internet signal.
uBinary provides 24-hour customer service to its clients six days a week, this service is available in three languages: English, French and Arabic. In case of any issues that arise or you need help, traders can contact support through live chat, email or phone calls. uBinary’s support phone number is +44 203 608 1229 which may be busy sometimes and you may be required to be on hold for a few minutes.
Customer service can also be accessed by sending an email to the email address email@example.com with any question(s) you may have or any problems you may experience while using the platform. It typically takes a couple of hours to get a response from the support team.
For traders who want to chat with a customer service agent or a personal account manager, they can visit the uBinary website and click on the live chat button and a customer service agent will be available. Again, they may be held up and you could be forced to hold for a few seconds which is not really a big issue when you get world class service.
As a matter of fact, the customer service at uBinary is top notch, although it could do with a wider selection of languages to handle the increasing global client base.
Training and Educational Resources
uBinary has invested in great resources to educate their clients on the binary options trade, market strategies and proper management of their deposits. This is done with the objective of giving the trader some knowledge and assistance to make good decisions on the trades they make, especially so that they don’t lose money.
Basically, every account comes with a free eBook on the technicalities of binary options trading and the best ways to gain from it. Most accounts also get the advanced trading guide, which was developed by the successful, professional traders who are behind uBinary to educate their clients on the inner workings of the trade, best strategies and generally all they need to know to increase their chances of winning big.
The higher account types come with a personal account manager who works hand in hand with the trader. Personal account managers are there to pass on knowledge to the trader, while traders ask them anything they want to know about when to put a stake on a certain trade and when to stay put, among many other curious questions. The account manager is also like an advisor to the trader and has the complete trust of the trader to advise them on the most profitable assets at a certain time or the most likely outcome et cetera et cetera.
The uBinary Mobile App
For traders who can’t leave their mobile phones behind, uBinary has got your back. They have a mobile app for iOS and Android devices that is available for download on Apple Store and Google Play Store respectively. When talking about the uBinary app, the main word to use is simplicity. There is nothing special and sophisticated about the app. All the assets information and trade options are found in an easy to use layout, designed with the trader in mind. The app is somewhat different from the website as it is custom made for a smooth touch experience with little room for error.
Trading tools/options available
There are several options that a trader can choose to trade in at uBinary.com. Most of these are the usual binary options used everywhere but with a few twists from uBinary to make the trading experience as unique and enjoyable as possible. The following are the options available:
The above/below options – In this option, the broker names a certain price and the trader states whether the asset’s price will end either above or below the price. This is a slight variation from the traditional high/low, whereby you state if the asset will end the period with its price high or low. The above/below has a higher risk of losing money but also very high returns.
Speed trading option – This gives you the chance to trade in the above/below option for short expiry periods of between two and five minutes.
Option builder – This gives the trader more flexibility than any other option. The traders get to choose the asset, the payout or the returns and the expiry period they want the trade to take. This offers amazingly high returns but the chances of losing all your money is greater too.
Long term trading option – This option is fast catching up, with traders increasingly using it as an investment method. True to its name, it has long term expiry periods of up to a year.
Unique Features to be Found on uBinary
While you are going to find uBinary has most of the same binary options trading tools as other brokers, they have also developed their own unique tools exclusive to them. Be assured that you are only going to come across the following on uBinary:
Buy Me Time
This innovative option gives the traders a chance to extend the expiry period of their trades to enable them to increase their overall returns.
Buy Me Out
With this option, the trader is allowed to call for an early close to trades. They can do this either to secure their profits or minimize their losses.
This new and wonderfully innovative feature is a game changer in the market. This option basically allows you to flip the trade around to the other direction if you feel you made the wrong choice by clicking on the “Flip” button on the menu. Soon you’re going to see this tool duplicated by other brokerage firms but remember, you saw it on uBinary first.
There is no question that the types of uBinary accounts and the different terms they have come up with are unique. From the amateurish Micro account to the classy Platinum account, it is highly unlikely that you will come across such anywhere else
With the awesome innovative and unique additions to their platform, uBinary is on an upward trajectory right now. There is no doubt that the uBinary brand is growing, and will continue to grow if they maintain the same innovative pace.
They have assured traders they excel at their principles of making the trading process simple, safe and extremely fun for binary options traders. Their asset index and asset classes will surely be expanded as the brand grows and becomes available in even more countries. uBinary has won a few awards for their excellent financial management which has increased their credibility, but their biggest win yet will be when they are officially licensed by Cypress Securities Exchange Commission.
That said, there is room for improvement especially in the available languages in their customer support. As their client base becomes more international, they will need to have more languages to cater for the different nationalities. Most likely they are working on that.
To any binary options trader out to have a fun experience while making profits and who also wish to learn the ropes of the trade from people who have been there and done it all, uBinary is the broker to beat. Everything about them seems so organized and simple, they actually make complex binary options trading appear easy. To be fair to everyone, their accounts have been structured in such a way that the new traders do not get lost as they start with the simple Micro account then upgrade to the rest when they learn enough about the market. Traders are guaranteed quick assistance and answers whenever they need them. The mobile app is also compatible with all Android and Apple phones to enable traders to trade and view asset information whenever and wherever they are. Anything you have ever wanted a binary options broker to have, uBinary has it all. Simply visit their site and start earning while you’re learning!
Open a free uBinary account by clicking on the button below!
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
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