EZTrader ReviewNo Comment
Founded in 2008, EZTrader is one of the most established names in the binary business being one of the original brokers to first offer online digital binary contracts.
Trading clients of this broker get access to an in house developed, bespoke trading platform which is noted for its simplicity of use.
Key strengths are the number of global stocks that can be traded and the ‘SellOption’ feature which allows contracts to be terminated prior to their official set expiry.
Mobile trading is also supported by both Android and iPhone applications.
|Accepting US Traders||Yes|
|Deposit Offers||Daily sign up offers on brokers homepage|
The range of contracts on offer here is unusual in that EZTrader only offers Call and Put option contracts (higher/lower). This is unlike many of its peers that have expanded their ranges of contracts to offer a wide range of different contract types. Of note here are the Touch and Boundary contracts. As a result the dealing interface is clean and uncluttered. It is probably one of the easiest dealing platforms to get to grips with that you will find.
However the payout that is available on the Call and Put contracts provided is good. You can typically earn anywhere between a 70-81% return for an in-the-money contract expiry. A nice feature is that some contracts that finish out-of-the-money will also receive a refund of up to 15% of the initial investment.
There are also some good and innovative features offered here. One it known as ‘SellOption’. This feature gives you the opportunity to sell your option back prior to the official contract expiry time. For any options that you use this facility on you will receive back the market rate which is applicable to the contract t at the point of sale. This feature is only available on selected options which are denoted with a unique ‘sell’ icon.
In common with the simplicity of the supplied web based trading platform, EZ Trader offer only one level of trading account is offered to all clients. Accounts can be held in a wide range of global currencies including USD, EUR, GBP, SKR and NKR. The initial deposit requirement for account opening is $200 or an equivalent amount in the designated account holding currency.
Deposits and Withdrawals
The major account deposit methods supported are via credit and debit card (Visa, MasterCard,American Express) and Moneybookers. Withdrawals from your trading account which are made back to the original depositing card are carried out for free. As an alternative you can withdraw funds via wire transfer. This attracts a $25 dollar processing fee per transaction.
The recent launch of EZMobile now makes it possible for clients to trade on the move. The apps can be downloaded for free and provide access to all the major functions account functions. Existing contracts can be monitored and new contracts can also be placed on available assets.
Dedicated iPhone and Android apps are provided which can be downloaded from their respective apps stores.
International support is good with both the website and ongoing support available in a wide range of languages. Currently the following are supported; English, Spanish, French, Italian Swedish, Portuguese and Turkish.
Methods for support include online chat, email and telephone. A nice feature is that you can also request a call back from your account manager. This can be done by using the websites online contact form.
The main highlight here is the number of global stocks that on offer. The full asset index includes 9 Indices, 9 Forex pairs, 4 Commodities and 48 Stocks.
EZTrader Review – Verdict
The trading solution from EZTrader while lacking some of the more advanced features of many of its rivals does nevertheless provide a good foundation for trading binary options. The platform is both easy to use and navigate and the recent addition of dedicated mobile applications extend this simplicity to trading while on the move.
In addition it provides a good range of account holding currency options and the ability to sell back their options prior to the set expiry time will prove attractive for many traders.