Ayrex are a fairly new binary options firm, first going live with their platform in 2014. Their main selling point is customer service and innovative technology. They boast the platform “does not lag, freeze or hiccup”. In terms of customer service, they aim for fast payouts, clear promotions and no locking in of trader deposits. The brand is operated by Advanced Binary Technologies Ltd, based in St Kitts.
One of the main attractions of Ayrex is the registration free, demo account. The full platform can be used with demo funds – real prices, real assets – without the need to register or supply any contact details whatsoever. Ayrex are so confident in their platform, they have opened it up to any traders, absolutely free. The firm are unregulated at present, but have applied to CySec and are looking to have that in place before the end of 2016. Despite a lack of regulation, the company do enjoy a reputation for good customer service.
Key info for Ayrex
- Ayrex Demo Account – Yes. Open a demo account with no sign up.
- Minimum Deposit – $50
- Minimum trade – $5
- Signals service – Yes.
- Bonus details – 30% Deposit match. Terms apply, but the bonus can be cancelled at any time.
- Mobile App – Yes. ‘Ayrex for android’ and ‘Ayrex for iOS’ versions.
Ayrex trading platform
The Ayrex trading platform provides a traditional trading area, with all the required data available for traders. The platform is not too different from other brokers, but the layout is clear and easy to use. Traders will have few complaints about the usability.
The left side of the trading area shows the price chart for the asset currently selected. The time frame can be amended, and there are buttons that will return the trader back to specific points on the timeline – the up to date quote for example. Users can zoom in and out to reflect larger or smaller timeframes. It can also be toggled between display types (Area or Candlestick).
The right hand side of the platform contains the trading buttons. The type of options are listed at the top of the screen. Ayrex deliver ‘Short term‘, ‘High/Low‘ and ‘One touch‘ binary option types.
Below these types are the asset lists. Grouped by category (stocks, spot FX, Equity indices and commodities). Traders can open up each category to show the full list of assets. Asset lists at Ayrex are comprehensive, and more importantly, the assets are always available, which suggests Ayrex have good trading volume across their platform.
Once an asset is selected, the price chart on the left will display the new data. The trading buttons will also update. These are just to the left of the asset list. The trader can amend the trade size, and the expiry time with the fields above the Call and Put buttons. The potential payout is shown just above the ‘Buy Option’ button – labelled ‘outcome’, and the current strike price is also displayed above the trade size box, and again on the price chart. As a trader moves the cursor over the ‘Call’ or ‘Put’ buttons, the price graph will display the direction the price will need to move (in green). This reduces the risk of a trade being placed in error.
Once the ‘Buy Option’ button is clicked, the trade will appear in the ‘Open Positions’ window, which sits below the trading buttons. Beneath the price graph, traders can see a history of trades which have expired, settled and closed. There are also ‘News’ and ‘Signals’ pages here, helping traders to stay up to date on other trading options.
All in all the trading platform performs very well. It is not cluttered, but still shows all the right data. One potential improvement could be if the platform was more configurable – perhaps giving the ability to trade more than one asset at a time on the same screen.
Ayrex Asset list and Trade Types
Ayrex offer three types of binary option:
- Short term – Binary options with short expiry times, generally 5 minutes or less (down to 30 seconds).
- High/Low – The standard binary. Ayrex have expiries every 15 minutes, up to an hour.
- One Touch – Ayrex offer Touch and No Touch choices on both Above and Below price levels. On occasion “No Touch” may become unavailable, and ‘One Touch’ is generally only available on major forex pairs.
The asset lists at Ayrex are very good. All major Forex pairs are listed, plus a full range of stocks and indices. Commodities are also available, including Oil, Gold and even Natural Gas and Palladium.
The trade size limits at Ayrex ($5 up to $1000), and the general ‘feel’ of the site suggests Ayrex manage risk very closely. For a relatively new broker, it also looks likely they will add further assets and option types as they see higher levels of traders and trading volume. So if traders want boundary or ladder options, they may not have to wait too long before they are added to the Ayrex platform.
Ayrex for Android and iOS
Ayrex released updated versions of both ‘Ayrex for Android’ and ‘Ayrex for iOS’ during the spring of 2016. The mobile trading app mirrors the platform of the website, with a full range of options and markets available to trade online.
Feedback for the application has been good and the app is regularly maintained. The android version requires version 4.1 and up. The iOS version requires version 9.0 and higher, but works across the iOS range (iPhone, iPad and iPod touch).
Ayrex payouts are pretty good, reaching 85% for the popular assets. As ever, payouts will vary based on the asset, and expiry time, but Ayrex remain competitive with other firms on most assets. One touch payouts are a strength, getting up to 80% for both Touch and No Touch trades.
Withdrawals will take 3 days to process. Brokers like Ayrex will always need some time to comply with money laundering laws. A key point to bear in mind is that Ayrex will make payments back to the source that made the original deposit. Traders should take note of this when making an initial payment.
Where deposits are made via more than one method, Ayrex will pro rata any withdrawals across the deposit methods used. The minimum withdrawal is $5. Traders can make one free withdrawal each calendar month. Subsequent withdrawals will pay a commission based on the processing fees for that payment.
Deposits can be made with Neteller, Skrill, Visa, FastPay and Union. When a deposit is made, traders can select their level of bonus to take – offers range between 10% up to 30%. The deposit will have terms and conditions attached, including turnover requirements before withdrawals are allowed. Traders should consider their intended trade volume and frequency, and then which bonus level will work best for them – without causing any changes to their trading style. The bonus can be cancelled at any time.
- Contests – Ayrex run regular, free to enter, trader contests, with prize money available. There are 3 rounds a week, with 8 winners and $3600 in prize money. Demo account users can also enter ‘Binary Blast’ contest, at no cost.
- $30 Bonus – Ayrex offer a no deposit bonus as an alternative to the deposit match, offering traders $30 to trade with.
Ayrex no deposit bonus
- $30 No deposit bonus
- Trade through the bonus 30 times
- Withdraw up to $200
- Traders still free to enter Ayrex contests
- Traders must register a deposit method (Paying $10) to then withdraw the bonus funds
Although the profit that can be withdrawn is capped at $200, Ayrex effectively give new traders $30 trade with. The offer is still open to those who have already opened an account – as long as they have not made a deposit, or taken any other bonus. To take advantage of the offer, traders need to visit the specific No Deposit Bonus landing page.
During the promotion, the trading area will have some small differences to the standard screens. The maximum trade is held to $30 and the Deposit/Withdraw buttons are removed until the turnover criteria is met.