As one of the newest binary option brokers out there, GrowBinary is still attempting to make significant inroads into the industry. While nothing found at GrowBinary.com is unique or innovative enough to propel them into the spotlight, there is certainly nothing wrong with their website or trading platform. In fact, their relative obscurity makes each GrowBinary trader feel like a VIP customer, no matter their account balance.
Software and Features
One of the first bright spots at Grow Binary is their use of the superior modern SpotOption platform, with which trading has never been easier or more versatile. The GrowAcademy provides a series of useful lessons on trading for beginners and somewhat make up for the lack of a demo account, while account holders have access to advanced webinars and videos as well. Furthermore, daily and weekly market recaps help keep traders in the loop. Even though options trading has gone global, GrowBinary only offers their site in English and Arabic although English language live char support is now available 24 hours a day to accommodate world-wide customers.
Option Types Offered
All of the SpotOption option types are supported including standard call/put, one-touch, 60-second, and pairs options. The Option Builder and the Pro Trader function featuring roll over, sell early, and double up options are also featured. Around 80 underlying stocks, indices, commodities, and currencies were offered at the time of our GrowBinary review, which should be enough for all by the most demanding traders. Profit returns are slightly above average, topping out at 85% with out-of-the-money trades carrying refunds of up to 10%.
Account Types Offered
It seems that there is a ‘one size fits all’ concept behind the accounts at GrowBinary, with each new account holder getting offered a different account package based on their history and deposit amount. Account perks may include faster withdrawals, individual consultations, and the chance to claim a GrowBinary bonus on initial deposits. You can ask to have a customer service rep contact you when you open a new account, which is very helpful in making sure that you get the right package for you. Secure banking is done through credit cards and wire transfers with e-wallets being added soon.
GrowBinary is not the most interesting broker out there, nor do they do anything that make them better than many other brokers with similar offerings. However, there are some things, such as their education center, which GrowBinary.com does really well. And as a member of the well-known Hortense Holdings group, they have a certain level of reliability that is hard to come by in the binary options industry these days.