This broker is currently not supported by FBO.com, try HighLow instead.
In this review, we will introduce our readers to LottMarket Broker. LottMarket, based in Edinburgh, United Kingdom, is quite new on the market as it was established in 2014. They claim to offer all major currencies, stocks, indices and commodities and quick payouts.
Most of the brokers available on binary options market offer various account types. Every trader can decide whether they want just some basic account without many additional features or the VIP account with every feature possible. In LottMarket review, we noticed that this broker is quite different when it comes to accounts. Minimum deposit is $200, and we could say that they offer three account types. The opening of the account is always free, but in order to trade, one must make a minimum deposit.
Demo Account – this type of account will come in handy to everyone who is new in binary options or has never traded with LottMarket before. The best thing about this account is that is not time limited but can be used whenever there is a need for testing strategies and exploring the world of binary options. In order to receive a demo, account trader must place a minimum deposit of $300.
Real Account – is an account that offers real trading experience with real money, and real profit. The platform offers completely customized target prices, and five different types of ‘contracts’ or options types. Minimum deposit is $200.
Pamm-Account – LottMarket claims to be first binary options broker that offers Pamm-Accounts. This account is opened by the manager (experienced trader) with a certain amount of money known as “stock of a manager”. The manager creates an offer with cooperation conditions, upon which investors agree with, and defines percent from a profit.
In our LottMarket Review we would like to enhance the fact that information about account types available on the website are quite vague, so all traders should contact their customer service in case of any questions.
Even though bonuses aren’t mentioned anywhere on the website, LottMarket states in its Terms & Conditions that they have every right to cancel the bonus provided to the customer by promotion, so we can presume that there is a bonus available, but we would prefer if bonus conditions were clearly visible and available for everyone to read.
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Our LottMarket review stated that the broker developed its own trading software in order to enable completely customized trading experience. Unfortunately, the design of the platform is not that good: white letters on a black background can seem unclear from time to time. Reversed color combination would be much better and more pleasant. The section where the trades are placed is more clear and easy to use, with large graph taking up most of space.
Unfortunately, we must say in our LottMarket review, that it seems that website is not really finished. Confusing redirections, missing information and hard to navigate website makes it almost impossible to find what you’re looking for.
LottMarket still hasn’t developed a mobile app for smartphones and tablets. As Apple App Store and Google Play icons can be seen on the bottom of the website, we can presume that the mobile app will be available soon. It would be a great addition to their portfolio as more and more traders trade on the go.
When it comes to assets, traders can choose between 27 currency pairs, 3 commodities, 3 stocks, and 3 indices. There is just enough variety to satisfy everyone’s taste. Minimum investment of only $5 will appeal to beginner trading who want to carefully enter the world of binary options.
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While preparing LottMarket review we noticed that the trading platform is available in four languages. Traders can choose between English, German, Russian and French. It is good to see a broker who offers world’s most popular languages.
In case traders have some troubles while executing the trades, they can always contact the customer support. The support can be reached in different ways. We are happy to see they are available via Skype, as it is in most cases the fastest and most convenient way of communication with customer service. Trader can contact LottMarket representatives via email and phone as well. During LottMarket review we noticed there is a Live Chat option suggested, but the link was invalid and we couldn’t reach them. We hope this mistake will be fixed soon.
This broker is offering basic FAQ section that explains basic terminology in binary options trading. It could be pretty useful for those who are researching about binary options and who need to get to known better with basics, but additional reading materials and videos would be welcome as well.
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LottMarket Review showed that they offer a number of great banking methods for money transfer. Traders can choose between wire transfer, Visa, MasterCard, Maestro, WUI, SafeCharge, Amex, PayPal and various other e-cash methods.
Same methods can be used when withdrawing money. It is important to mention that minimum withdrawal is quite low, only $10. For all transactions via credit card and SafeCharge there are no additional fees, but keep in mind that the banking account used for depositing should be used for withdrawing as well, otherwise the broker has the right to deny the withdrawal.
In our LottMarket we realized that it usually takes two days for the broker to process the withdrawal, but traders must also take additional few days into consideration, especially if they prefer to use bank wire transfer that usually lasts longer. We can easily say that in average it will take around 5 days to receive money.
Traders who accept the bonus must count on some additional terms of withdrawal, that are not stated on the website. Before accepting the bonus, please contact the customer service and learn more about bonus terms.
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