Full Review of 777Binary Binary Options Education
This weeks review of binary options educational resources is focused on 777 Binary. This broker, like more than 80% of binary options brokers, is powered by SpotOption. SpotOption is a CySEC regulated market maker providing the industries most trusted trading platform. This is why 777 Binary’s website was so familiar looking at first glance. The bar in educational resources was set pretty high by TraderXP. My first impression of 777 Binary got me a little excited because I thought it would have similar resources as TraderXP. I have to get this one thought out before I go further. I do not appreciate the name of this broker. The “777” is a direct reference to slot machines and gambling, a reference that in my opinion helps promote the view of binary options as gambling.
777 Binary At First Glance
So, once I got over that little issue I was able to dig into the site and find out just what makes 777 Binary suck or not suck in the education department. I began by surveying the home page. Unlike TraderXP 777 does not have very many prominent and easy to follow educational links. There was no “Education” tab in the top navigation, there was no “Library” tab in the bottom navigation and there was no reference to a demo account. There was a “Demo” tab in the top navigation and that took me straight to a video on how to use the site to trade, good but nothing more than any other broker, especially a SpotOption user, already has. I would like to see more in the way of video education on this site and every other.
If you will remember from the TraderXP review (I really liked that one) the second tab in the top navigation was “Education” and it led to some truly beneficial information. The second tab on 777 Binary is “Open Account” followed by the demo video, expiry rates, about us and contact info. This is all good information but again there is nothing here useful for expanding the knowledge of newbies or expert traders.
Moving down through the page my next stop was the feature box. Like TraderXP the feature box had three rotating ads but unlike TraderXP there was not one mention of education, tools or any reference to help. There is a link to 24 hour service in the sidebar but it is very small and down towards the bottom. The sidebar did have the standard 1-2-3 how to trade binary options tutorial you will find on every brokers website and in nearly every brokers landing pages.
When I reached the secondary navigation my hopes of a real effort into trader education rose, a little. There are 5 categories here, including affiliate information and policies. The three of interest to me and this article were 777Binary, Information and Analyst Review. Unfortunately there was very little in the way of follow through here as well.
Under the 777 Binary heading is listed four links; Learn More, Binary Options, One Touch and Option Builder. These were all standard landing pages with the basic info found everywhere else on the internet. The next heading, Information, did not go any deeper. Links here included FAQs, Glossary, Asset Index and Banking information. Once again all I found here is the basic information provided by every broker on the internet. This is probably a standard package available through SpotOption (for those of you unfamiliar with SpotOption it is a white label trading platform).
777Binary Has One Last Chance
The final heading in the secondary navigation was Analyst Review. This is the one area where current and relevant information for binary options traders should be listed. 777 Option made a valiant effort here but fell flat on their faces. When I clicked on the Daily Market Review link a review did pop up but it was dated June 14th 2012, the day I wrote this review was March 5th 2013. I asked my girlfriend for here opinion on this and she said “um….not good”. The next link down was for a weekly market review, again the one provided is dated about 8 months previous to the current week. I understand that these may be examples of what members can receive. Compared to TraderXP where these reviews were free and up to date I found this to be very poor. They did a little better job with their Economic calendar. This link provided important releases from around the world but the one provided was from the previous week. I tried to contact the broker for answers to my questions concerning the daily/weekly reviews but as of yet I have gotten no response.
The one area where 777 Option has gone above and beyond other brokers I have currently experienced is charting. Not may brokers have charting above and beyond the simple charts offered on the trading page. 777 Option has real time streaming charts powered by FreeStockCharts.com. This is a bonus since I for one use a different account for charts than I do for trading.
My Last Words On 777 Option’s Educational Resources
777 Option’s website looks pretty good from a trading standpoint but I think they have dropped the ball on education. Not that what they have is inferior to other brokers but that it is not as good as the best. There are some good features available but unless they are kept up to date for account holders they are nothing more than fluff for SEO purposes.