This broker is now closed! Try trading with HighLow instead.
Venice Binary Banc, or VBBanc started to provide binary options services only recently. For the VBBanc review we will mostly show the features we encountered during the inspection of the website.
With VBBanc there are several account types. The broker instantly offers the best bonuses and many traders may be happy about this. They also offer training sessions and other perks. See below.
VBBanc obviously offers highest bonuses in the industry. Trading terms are also low at first sight good, untill one notices that the turnover requirement is relating to not only the bonus, but the initial deposit too. We do not think this is a fair policy. Customer can also get 30% penalty and EUR280 fee if they try to withdraw their funds before turnover was reached. Make sure you decide if you want to accept bonus when doing the initial deposits because it brings many restrictions. Bonus rules are unclear, with 5.5 of T&Cs stating “Bonuses offered by Venice Binary Banc must be used in order to submit trades within the platform.”
We also have issues with some other rules regarding withdrawals, look it up in the banking section of VBBanc review.
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VBBanc has a trading demo on the front page so everyone can try their binary options trading platform for the basic binary options type. The graph looks fairly simple but very visible when it comes to distinguishing the price moves. However, VBBanc offers a separate technical analysis tool as well as an economic calendar, meaning that traders can run analysis before placing trades without any problems.
Binary options types supported are, aside from the traditional high/low, 60 seconds, One Touch and general touch- no touch options. Asset list includes 15 stocks, 6 commodities, 6 indices and 17 currency pairs. This is a bit below what we are used to.
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We did not notice live chat functionality with VBBanc when we were checking up their contact page. This is highly unusual since live chat is standard meanwhile. Traders can contact them via e-mail, phone
UK +44 20 3051 6638
+44 20 3051 6638
Russia +7 499 2990 593
+7 499 2990 593
France +33 182 880 113
+33 182 880 113
Italy +39 06 9926 8253
+39 06 9926 8253
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VBBanc offers a relatively wide selection of deposit methods. These include credit cards and debit cards (Master Card, Visa, Visa Electron), net wallets (Neteller, WebMoney) and bank wire. Deposits take only few minutes and withdrawals processing is done in 3 – 5 days. This is average, however, the banking page claims the broker will do it in one day.
One policy we absolutely dislike is the fact that it is not allowed to withdraw funds if the trader has not traded at leas 1x volume of the initial deposit. If you are not sure if you want to trade, do not deposit until you decide, because, for inexperienced trader this policy can mean they can lose funds even if they never wanted to trade. This should be reasonable since one would expect a person to trade if they have deposited, but we feel obliged to warn traders nonetheless. Also, 30 days must pass since the last deposit in order for customer to request an withdrawal – this seriously reduces money management space.
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