TopBinary is a relatively recent broker, coming into the binary scene just last November 2016. It is regulated and licensed by CySEC, which is generally a positive sign as all Cyprus Investment Firms are required to abide by strict regulations to protect the best interests of traders.
Read our full review to find out what this broker has to offer.
TopBinary provides 3 distinct account types to cater for traders of all levels.
Unfortunately, there is no demo account available.
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The broker’s website reveals very limited information about their trading platform and we had to create an account to find out more.
TopBinary uses the popular SpotOption platform which is ideal for both beginners as well as more seasoned traders since it combines ease of navigation with handy trading tools and indicators. There is a wide range of assets available for trading, including currencies, stocks, commodities and indices.
They provide 6 option types; Binary, Pair, Long Term, 60 Seconds, One Touch and Ladder options. When it comes to expiry times, both short (60 seconds) and longer ones (several months) are available.
The platform is also accessible from mobile devices so traders have the freedom to trade from anywhere, at any time.
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Customer support for TopBinary is not the most extensive and we found it to be a little underwhelming.
They do offer a live chat feature, but when we attempted to contact a support agent on two separate occasions, we were told support wasn’t online and invited to leave a message for them to get back to us.
Phone support is available too as the site provides 3 phone numbers listed for the Czech Republic, Poland and Cyprus.
They do not seem to provide an email address, which it a bit strange, however, there is a generic form in the Contact Us section which traders may fill out and submit to get in touch with the broker.
Moreover, we were disappointed to note the absence of an FAQ or education section; these features are generally quite useful as they serve to guide new members on how to use the platform and also provide trading tips for those unfamiliar with binary options trading.
The website is available in 5 languages; English, Czech, Italian, Polish and Slovak.
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When it comes to deposits and withdrawals, TopBinary does not offer many payment methods but does provide the most common ones; traders can transfer funds through credit card (Visa, MasterCard), TrustPay or Bank wire transfer.
Moreover, traders must submit all necessary documentation to verify their identity before any withdrawals can be made.
The broker is owned and operated by parent company Goldenburg Group Limited, an investment firm regulated under CySEC license number 242/14 and registered with an address in Limassol, Cyprus.
CySEC is one of the leading financial regulators currently operating in Europe and it has been cracking down on the binary industry with tougher regulations over the past year. This should reassure traders that TopBinary is one of the few reliable brokers on the market.
TopBinary plans to expand its business operations to cater for the Asian and South American markets as well.
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