First Binary Option is like no other binary option broker out there and successfully goes beyond the standard features found over and over at other brokers. The Firstbinaryoption.com website looks more like a bank’s than a broker’s, and the trading platform looks completely different from the outside, yet is incredibly innovative and easy to learn. Catering to the Russian, Arabic, and English markets, First Binary Option Service is trying to do something new and exciting in the binary option business.
Software and Features
Instead of running on a third-party platform, the First Binary Option broker platform is a completely new, propriety piece of software. Although is may look foreign to veteran investors, a quick tour will show that it has everything that traders want such as full-color charts, and more. Every account at Firstbinaryoption.com comes with a free demo account, so traders can easily learn the software before putting their own money on the line, while the video guide is extremely helpful for new binary traders. There is even a forum for traders to swap strategies and ask for advice. Live chat support is readily available and has proven to be extremely friendly and helpful.
Option Types Offered
As First Binary Option doesn’t do things the way other brokers do, they have a unique variety of options. There are more than 40 underlying assets in the areas of stocks, commodities, and currency pairs, although indices are not supported. These can be traded with normal high/low options as well as no-touch and one-touch options. At the time of our First Binary Option review, they had also recently added 60-second options. Uniquely, there are two types of range options, in-range options which pay out if the strike price is within a predetermined range, and out-range options where the price must finish outside the range. These types of options have returns of as much as 725% while normal high/low options have profits up to 80% and return 15% on losses.
Account Types Offered
New customers at First Binary Option Service are able to choose from either a free demo account or a real-money trading account where they get all the advantages that FBO offers. While a First Binary Option bonus is not currently offered, check their website for the current situation. Minimum deposits are tiny at $5 and can be made securely through credit cards and e-wallets.
There may be a few things that First Binary Option can improve upon, but their refreshingly innovative interface and new trading options are enough to entice both new traders and experts. Firstbinaryoption.com is something new in the binary options industry, and as they try things that no one else has done it is safe to say their traders will continue to reap the benefits.