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Our review on binary options

Reviews on binary options are numerous and often inconsistent. Because it has recently appeared on the market, the binary option industry has generated a lot of feedback from internet users. The reasons for this thirst of testimony are numerous and will be detailed in the following paragraphs. But first of all, let us look at what binary options are…

Read the reviews of our traders on the comparison of binary option brokers

What are binary options?

The binary options are a type of extremely popularized financial contract. In financial jargon, an option is a contract (some would say “position” or “transaction”) whose outcome depends on the evolution of stock market prices. The binary option is a type of very simple option of which only two outcomes can occur following the expiration of the contract: which is why we commonly speak of “binary option”.

In fact, binary options are short-term contracts that are not closed when an objective (gain or loss) is reached, but when the countdown (or expiration time) expires. At this point, depending on the position of the chosen underlying asset, the outcome of the contract is declared.

Binary options operate on any type of financial instruments such as currencies (forex market), the shares of publicly traded companies (like Facebook or Apple), raw materials (such as oil or gold) as well as the financial indices of the different world powers such as the CAC40 or the Dow Jones. Binary options contracts are governed by the international stock exchange, thus the term “binary option stock exchange” is not correct strictly speaking.

Why internet users’ reviews are important?

This type of contract, democratized to the entire population from only 4 years now, has made significant headlines that is not always a good one! 

In fact, the binary option sector has grown very quickly and wished to quickly seduce any Internet user likely to want to invest money to very quickly recover high returns. The types of advertisements used at the time were aggressive and sometimes even misleading. 

Reviews of Internet users who have used the services of option brokers have therefore quickly invaded the web. The reviews diverge broadly. Some have complained of having been “phished” and having been a victim of unscrupulous brokers who took advantage of their weakness (sometimes making them promises of impossible returns, calls for help against “binary option scams” have been frequent), for extorting money from them, while others have posted very favourable reviews touting their success and their new recently gained “wealth” thanks to betting via online binary options.

How our reviews on each broker are collected?

The binary option sector has fortunately changed a lot since some time. The corrupt brokers have quickly been captured and all financial market authorities now recognize the binary option contracts as financial contracts in themselves, thus require rules and criteria of regulation. See the list of binary option brokers that are regulated and authorized by the AMF.

On our website, we collect and compare reviews of Internet users who have tried or traded their contract via different brokers.

The different types of reviews or comments are gathered. The internet users have the choice of voting (only 1 time per broker) for any broker by giving them a rating from 1 to 5 out of 5 by accessing the detail sheets for the broker of their choice. The vote is automatically taken into account (simply click on the stars), and is added to the total count of the review gathered and the note (to the nearest decimal) is modified.

We also gather reviews as testimonials. The website visitors have the possibility to post their feedback by adding a comment in the forum section located at the bottom of the detail sheet of each broker. We take special care to allow free exchange of discussions and to not censor the reviews (even the negative reviews). In contrast the reviews that are not unique but replicated of other websites are not allowed (because this could lead our website to suffer a penalty imposed by Google for “duplicate content”) as well as hidden advertising or incomprehensible reviews.

How to interpret these reviews?

Reviews diverge for each of the brokers. A little like the reviews for hotels or restaurants, we can notice a client who is disappointed by a broker is much more likely to share his disappointment by posting a negative review than a satisfied customer is likely to post his positive feedback. So, be vigilant, as dissatisfied customers are generally more talkative than happy customers, and this is also the case for even the best binary option brokers!

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