The broker BinaryTilt uses the established SpotOption platform and comes with all the bells and whistles you would expect from a top line broker of this sort. The brand pride themselves on their support offering. It was recently overhauled to reflect this new focus. New traders can use their 100% deposit bonus to boost their funds, but can also opt out of the bonus offer.
BinaryTilt do not accept traders from the United States, but almost all other countries are welcome, including Australia and South Africa.
This delivers 9 different forms of binary trading including their new Limits feature. The limits feature allows you to enter buy orders for positions based on a strike level of your choosing. Other options include standard high low with short and long term expiries, Pairs, Ladders, OneTouch, Forex and CFD’s.
CFDs are contracts for difference and a form of trading that has been gaining in popularity. What I like best about SpotOption, aside from the variety of features, is the expiry range. Expiry for standard high/low digital binary options range from 60 seconds on the low to 6 months or more on the high end with a full array of choices in between. Basically, if there is an expiry you want to use, they have it.
The asset list is good but not great. They list well over a hundred on the asset list page but when you get on the platform it’s more like 50 something. In any event, they have the top listings in the 4 main categories; forex, commodities, stocks and indices, so there is little left to want. The more exotic options have much more limited asset lists but still adequate for most traders. The range of expiry times also ensure they is no lack of trading opportunities.
Payouts are average for the industry but standard for SpotOption ranging from 70% to 85% depending on asset, time of day etc. The more exotic options such as Ladders and One Touch may carry returns up to 100% and more. The Ladders especially, those can go up to 1000% depending on which strikes you choose.
Opening an account is easy, though they do not accept traders from the United States. The minimum deposit is $250 and can come with a bonus. Because they are not regulated they still offer the same old types of bonuses that have been known to tie up accounts and prevent withdrawals. Traders are free to turn these offers down.
If you want one, they can be up to 100% deposit match – and for larger deposits you can get risk free trades too. Turnover for bonus monies is 40X bonus amount and no withdrawals can be made until it is met. If a withdrawal is requested, it will cancel the bonus and any profits derived from it. The bonus are fairly unattractive then, unless you have a clear strategy of how to use the extra funds effectively, and meet the turnover requirement.
This broker does offer a demo account. This will allow you to test out the platform to see how it works, and to try your hand at trading before committing to a deposit.
Deposits And Withdrawals
Banking can be done by wires, CC or eWallet, pretty standard, with the usual stipulations. You must submit account verification documents before making any withdrawals, the first of which is free each month. The minimum is pretty low, only $50, with a $25 fee for each additional withdrawal per month. Processing will take up to 3 days with another possible 7 business days before it will show in your account, unless you use eWallet in which case you may see the money in 2 to 3 days.
Is BinaryTilt.com A Scam?
This broker has been in operation for quite a while and had not been receiving too many complaints until recently. And they all seem to say the same thing; I’ve deposited money and now I can’t get in contact with anyone to get it back. Their support offering was recently overhauled to try and improve customer contact and response times.
In terms of regulators it has received warnings from both Canada and Australia for soliciting clients without a license and each time the broker has withdrawn its business from that jurisdiction. So, is it a scam? While the firm have pushed regulators in certain jurisdictions, they are not running a scam.
BinaryTilt.com is a brand owned and operated by Chemmi Holdings LTD. They are located 78 York Street, London, England, W1H 1DP. Chemmi Holdings is a front company for Depix Holdings with address 38 Karaiskaki Street, Lymassol, Cyprus. Even so, BinaryTilt.com is not a regulated broker.