In this review, we will be looking at one of the most reputable Binary Option brokers on the market, Finrally. Established in 2014, Finrally is a stable binary options broker that got great publicity for its fast one-hour withdrawals policy. Yet that’s not the only impressive thing about Finrally. They also offer a lucrative weekly competition prize fund of $20,000 with free participation. This makes trading that much more exciting and competitive.
For investors, Finrally is also a portal of expert commentaries, market news, fundamental analysis and technical analysis. The brokerage company makes sure that its users have a sound market understanding before participating in trading.
|Support Features||Live Chat, Phone, Contact Form and Email|
|Free Demo Account||No|
|Deposit & Withdrawal Methods||Credit Cards, PayPal, Wire Transfer, Neteller, Webmoney, Perfect Money, Qiwi, OKPAY, Alipay, Bitcoin|
|Account Currencies||EUR, USD, GBP, RUB|
|Languages Available||English, Russian, Spanish, French, Thai|
|Option Types||High / Low, One Touch, Pair Options, Ladder Options|
|Option Expiry Times||60 seconds to 24 hours|
|Mobile Trading||Android & iOS|
In terms of accounts on offer, Finrally has 3 account options:
- Bronze. This account is ideal for new investors and has a minimum deposit requirement of $250. Users of this account are able to enjoy the benefit of the one-hour withdrawal period. This is a significantly shorter time period compared to the other standard withdrawal periods of 24-72 hours. With this account, you also get a 20 percent bonus on all deposits as well loads of additional reading material and tutorials
- Silver. The silver account is one of the most popular among traders and requires a minimum deposit of $1,000. Apart from the 1 hour withdrawal delay, you also get a 50% bonus on your deposits. Your first 3 trades are also risk free and you will have access to free training courses as well as the Master Class. The number of trading options available to investors with the Silver account is also quite considerable.
- Gold. This is the top tier account available to investors and is suitable for skilled Binary Option traders. This account requires a $3,000 minimum deposit and will get you a 100 percent bonus on all deposits. This account includes all the benefits that Bronze and Silver account has, including a dedicated account manager and a prepaid Swiss trading card.
- Fixed Income. This account is for risk averse investors who would prefer a predefined investment return over the life of their investments.
When it comes to the bonuses that Finrally offers, it is important to read all the fineprint and make certain that you understand all the requirements before a withdrawal can be implemented. As with most Binary Option brokers, you are required to trade a certain minimum amount with the bonus before you are entitle to the winnings.
Deposits and Withdrawals
The platform offers its clients a list of different payment methods, making sure that the customers have no problem in getting what their hard earned funds. Finrally deals with almost every online payment method, including PayPal, Neteller, Wire Transfer, Perfect Money, Alipay, OKPAY, Bitcoin. As is standard, they also accepts all of the major credit and debit cards.
Finrally Trading Platform
For the purpose of trading, Finrally uses SpotOption which is a highly regarded trading platform. This allows Finrally to offer their clients the opportunity to trade as many as 180 assets worldwide. They have also partnered with a BinaryOptionRobot for auto trading or signals. They also have “Spot Follow” which allows you to take a look at what the top investors on their platforms are investing in. This largely helps with the redesigning of your personal strategy and grooming your trading skills.
There is also a wide array of trading options available, allowing you to pick from Ladder and Pair, High/Low, 60 seconds, One Touch and Long Term, including a variety of expiration offers that last from 30 seconds to one year.
Another major benefit of using SpotOption is that it has great functionality on mobile OS like Android and iOS, so you can take care of all the deals even on the go.
Finrally is well known to have one of the best customer service departments amidst all the other binary options brokers in the financial market. You can either contact them via an email, but if you have some urgent issue that needs instant resolution, you can also contact them through live chat or toll free telephone. When we tested the customer support, we found the representatives to answer our questions in an understanding manner and provided the remedy to our problem almost instantly. They also offer support in other languages including Russian, Spanish, French and Thai.
One of the downsides of Finrally is that they don’t offer the platform or support in a few popular languages including German and Portuguese. We also found the lack of a free demo account as unfortunate. This means that potential investors would have to create an account before they see the benefits of the great platform.
We were overall impressed with our Finrally experience. The SpotOption platform provided an effortless and highly functional way for us to trade. Moreover, the vast range of instruments and assets that we trade on the platform made it that much more appealing. For investors who wanted a more hands off trading experience, they could always use the highly reputable Binary Robot software to automatically trade while they were away.
We also found that for the newer investors, the education and training materials could be very helpful. Add to this the great customer experience that Finrally offers and you have the formula for a pleasant trading experience. Therefore, we recommend Finrally to new and experience investors. However, as with most brokers, we advise potential investors to read all the Terms and Conditions so they understand the applicable rules.