EZTrader was one of the first binary options brokers, when they started operating in 2008. They are now based in Cyprus (and regulated by CySec) and continue to develop their own trading platform. Their in-house development of their own trading platform has enabled them to remain a global leader among binary options firms, ensuring that they are always improving their offering. EZ Trader takes great pride in working on their own platform and also in their customer support.
EZTrader has a long association with football – they are a major partner of Bayer Leverkusen, Wolfsburg, Tottenham and AIK. They have also been involved in Grand National and Wimbledon and are expanding their sponsorships. This also benefits merchants, as EZTrader runs promotions and contests involving match tickets and autographed merchandise. Visit the website and search for ‘EZTraderFC’ for more information.
Trading Platform
EZtrader has a smooth, sleek user interface within their trading area, which makes trading EZ (!) Because the platform is developed in-house, the trading area is unique in look and feel. The type of option available is listed at the top of the trading area in selectable tabs. Once selected, the area below contains the price chart below.
Traders use drop-down lists to select the asset class (commodities, currencies, indices and shares – shares are then further divided by geographic area. If the market closes in an area, the grays are erased). Once the asset class is selected, the trader can use the following list containing the specific assets. The payout and expiration fields will update based on the selected asset – and the expiration time can be modified.
Once the appropriate values are selected, the price chart will be updated in most of the trading area. The scale of the graph can also be modified, with time scales ranging from 5 minute intervals to daily intervals. The trade buttons are placed on the left side of the chart, with a very bright green ‘up’ and ‘red’ down arrow. Traders enter the value of the trade in the field between the arrows. The value automatically updates the investment and return fields, so traders can see the potential profits.
Open trades are then listed below, from here traders can go and use the SellOption if they want or want to.
Trader Choice
EZTrader offers a good range of trading options for their clients, including the SellOption feature;
- Binary options – the traditional up / down trade. Will the price of an asset rise or fall?
- Sell Option – The SellOption feature is where traders can exit their trade early or “cash out” their position. This allows users to lock in the profit where the trade is going well, or to cut losses if the price has moved against the trader. This is a useful feature with which traders maximize profit.
- 60 seconds – These trades follow the standard pattern of binary options, but the expiration times are very short, as the name suggests, 60 seconds or less.
- Daily / weekly – these follow the same rules as standard binary options, but the expiration days are the end of the markets that day, or the end of the markets at the end of the week.
- Long-term – Long-term binaries are a growing option among traders who prefer their investments to have enough time to affect the basis. Again, it works just like normal binary options, but with much longer expiration times. From two weeks to twelve months. At EZtrader, the long-term options tend to have only one outcome tradable – not both directions as with other trades.
The firm also offers options on forex, commodities, stocks and indices. The most important series is stocks. EZtrader offers stocks from USA, Eu and Asia. The ranges in other asset classes are not as large as some competing brokers, but all the well-traded assets are available.
Mobile app
EZTrader offers a free trading app to compliment the full website. The EZtrader app is compatible with iOS and Android (2.3.3 and above), and is developed for smartphones and tablets.
Ease of use is at the forefront of the design to ensure that trading is still fast, easy and accurate. All the 120+ assets that can be traded online can also be traded via the mobile app.
The app is secured using the latest financial protocol for mobile technology, and deposits can be made via a number of methods on the EZtrader app. This ensures that traders can respond quickly to changing markets or opportunities.
Open trades and the account balance are also both available via the app, as well as price alerts and up-to-date news. The app is smooth and efficient and allows genuine trading even outside. It has also received favorable reviews from users who have previously downloaded it. (4.0 out of 5.0 out of over 800+ ratings).
Pay out
EZTrader typically offers a return of between 72% and 95% on options. This rate can vary depending on the asset and the expiry time. For example, long-term options can offer returns in excess of 400%, depending on how far ahead the expiration is.
Withdrawal and deposit options
EZTrader offers a wide variety of deposit methods, although this depends on the location of the trader. Options for UK depositors are credit cards (Visa, MasterCard, Amex, Diners, Discover), Skrill (also called Moneybookers) and bank transfer. The minimum deposit (for funding a new account) is £200.
Withdrawals via EZtrader follow the same pattern as the majority of brokers, in that an account must be verified before a withdrawal can be made. This can be done at any time – so it pays to do it early. Delays in verification can lead to delays in withdrawals and are often the cause of disputes or disgruntled traders. Check bills early to avoid these delays.
Once an account has been verified, withdrawals can be made via the ‘My Account’ screens. As with all brokers, EZTrader will only allow withdrawals by credit card to equal the amount originally deposited via that card. Any additional profit must be withdrawn via Skrill or bank transfer. This process is the same at all brokers and is a protection against money laundering.
Refunds by transfer are subject to a £15 fee. According to EZTrader, it takes around 7 days to withdraw. This is slower than many competing firms can deliver, so something EZTrader can improve on.
Other features
EZTrader offers its customers the following features and benefits:
- EZPay Meter – A simple meter to show the cash back that will be paid on the next pay date. A good reward for regular traders.
- Low minimum trades – just £20 per trade.
- EZDay – Regular traders earn free bonuses via EZDay at the beginning of each month.
- Exclusive bonus – deposit £500 and get an education package worth £5000.