uBinary is not registered with the FCA to offer binary options trading to UK residents. As such, they cannot legally accept British traders.

 

 

uBinary is a growing brand of binary options trading brokers and CySec is regulated. They offer a variety of account types so that traders can enjoy the level of investment that is right for them. Originally founded by experts in the financial industry, uBinary has been providing services for over 50 years.

They offer a variety of option types and everything is operated through a slick, user-friendly trading portal. uBinary strives to excel in everything and adheres to 3 basic principles, with maximum second market feeds and 24/7 customer support.

  • Principle 1. Simplify the trading process to make trading binary options easy, safe and fun.
  • Principle 2. Allow traders to share their trading wisdom with 24/7 customer support.
  • Principle 3. Provide an efficient and user-friendly trading platform.

Also, uBinary regularly creates some innovative features. Other key information about the brand includes:

  • Demo Account – No
  • Minimum deposit – £250
  • Minimum Deal – £20
  • Signal Service – yes, it’s free.
  • Bonus Info – 10 Risk Free Trades
  • Mobile App – Yes. Currently iOS only (Android version under development)

Platform features

The uBinary website is fast and exciting, and the trading realm reflects that. The design is quite unique among other brokers. The traditional ‘trade’ area with call and put buttons is not immediately visible. In uBinary, a huge amount of data is displayed in the trading area, and certain tools are available only after you have selected an asset or option.

Another uBinary-specific change is the sidebar options. These are the ‘Social Trading’ and ‘Market News’ areas that can be hidden or displayed as needed. The social trading menu scrolls through the latest trades and performance of other traders, giving users the ability to follow them and monitor their trades. The Market News area, as the name suggests, keeps you up to date with market updates from around the world.

The central part of the trading area is dedicated to trading. The menu at the top allows you to select a specific option type and then select an asset. Below that is a list of the most popular assets trading at the moment. You can trade on the list very quickly. You can use the ‘up’ or ‘down’ transaction buttons next to the amount field. Likewise, the strike price and expiry are displayed in the row. Once the trader has filled in the amount field, they can press ‘Submit’ to place the trade.

This shortened version of the trading period is not a hindrance for traders who want to spend the minimum amount of time on the actual trade. No confusion or complications. It allows traders to spend their time researching trades instead of executing them. However, if users prefer the up-to-date price graph and ‘Trader Pick’ barometer, clicking the ‘+’ to the right of an asset will open a friendlier, configurable trading screen (similar to those offered by the competition). A price graph and a more traditional layout.

In addition to allowing traders to choose the level of detail displayed, uBinary goes further and offers a variety of layouts. Thus, traders not using the ‘list’ view can select four existing windows at once, or one enlarged trading window if desired. It is probably the most configurable trading area available in the binary options sector.

 

 

Select transaction

u Binary offers options on currencies, indices, commodities and stocks. Their asset list is good, but their currency is a definite strength. As the brand grows, other asset classes are likely to expand as well.

Available option types are usually variations on up/down options, with only the actual difference expiring. However, its core strengths are lost as options builders, especially to traders who want to better hedge or manage risk.

option type in uBinary;

  • Up/Down – Traditional Binary Options, Do Asset Values Rise or Fall?
  • 60 Seconds – Very short term trading available on uBinary, expiry is 60 seconds.
  • Quick trades – Again, short term up/down options. This time it has an expiry time of 2 to 5 minutes.
  • Option Builder – Ultimate trader flexibility. Option builders allow traders to choose the asset they are looking for, the payout and the expiration period. You may even make a small profit if the options run out of money.
  • Long term – More and more traders are using long term binary options as a traditional investment or hedging tool, and uBinary has a variety of long term options.

mobile

uBinary’s mobile app is currently only available for Apple devices, Android will be developed and released soon. The iOS app provides comprehensive trading services. All option types can be used like any asset.

The trade display differs from the website, with the standout feature of the price display and the use of large ‘Up’ and ‘Down’ buttons for the current strike price. Trading from your mobile device is very simple as all relevant information is available. This layout is also suitable for touch screen phones and reduces the capacity for human error.

Below the Trade button are the Open Positions window and the Closed Positions (Trade History) window. These deals detail both current and past deals so you can always see the latest information.

As the Android version develops, further changes may be made to add some functionality to the mobile app across platforms. The current offering is functional, not very good, but it does the job.

Payout

Trading payouts on uBinary are usually around 77% and can reach 95% for certain assets. Option builder features can offer up to 80% on some major asset types and include the flexibility to reduce payouts to ensure some funds return when options end up in the money.

Withdrawal and deposit options

u Binary has faced criticism in the past surrounding its withdrawal work. In response, the company has created a strict ‘compliance’ policy. Therefore, traders must provide the following IDs to process withdrawals.

  • A valid photo ID such as a passport.
  • Utility bills for less than 3 months with current name and address.
  • Both sides of the credit/debit card used for the first deposit. It should cover everything except the last 4 digits, name, expiration and CVV security digits.

In theory, these measures should protect traders and brokers. To avoid delays, it is recommended to set this information before a withdrawal is required. Normally (to avoid laundering) other withdrawal methods require you to return the sum up to the amount deposited first to the same source.

The bank account used for withdrawals must match the name on your trading account and the minimum amount that can be requested is £50. uBinary suggests that withdrawals to your debit or credit card take 3 to 7 days and take up to 10 days to your bank account. This is longer than the competition and there are some things uBinary needs to improve. On the plus side, withdrawals are free, which is not always the case elsewhere.

Deposits can be made by credit card, bank transfer from ewallets Neteller and CashU. The minimum deposit is £250. There are no charges on deposits and funds are immediately tradable. You can open an account without making a deposit, but you cannot trade.

other features

uBinary offers its customers the following features and benefits:

  • Buy Me Time  – An innovative trading tool that allows traders to extend the expiration time of salvage options and increase their overall strike rate and profit. This is a unique feature of uBinary.
  • Option Builder – Gives traders the option to build their own trades by choosing an asset, payout and expiry time. It is especially useful for traders who have a specific niche and know how to maximize their knowledge.
  • Buy Me Out  – uBinary gives you the option to close your trade early to lock in your profits or cut your losses.
  • Reverse – literally flip the trade the other way if you are going the wrong way
  • Advanced Charts – Charts with a wide range of time spans and indicators give traders greater power in their research.
  • Account Levels – From Micro to Platinum, traders can open an account type that suits them and their investment needs.

uBinary’s educational material is in-depth and the documentation that complements the trading realm is great. Most of uBinary’s features are designed to give traders greater flexibility, so we represent our broker of choice to traders who feel that their current broker or platform is a bit limited.