“Hello Binary” Binary Options Platform and B2B Review
They are new, fresh and consider themselves innovators… but can they deliver? According to Hello Binary, their platform has been in development for many years and takes into account all the needs of both traders and brokers. Now, about the needs of the brokers, I don’t really care and this review will not be focused on the back-end of the platform but on the features that are of interest to us traders. For the moment none of the mainstream brokers are using this platform and to be honest, I am not really familiar with any of the ones who use it. Probably Hello Binary is too “green” for it to be adopted by high-profile brokers but I guess time will tell.
Brokers using Hello Binary Platform
Trade Call, Crown Option, Ze Option, 50 Option, Royal De Bank
Hello Binary Platform Ratings
Platform functionality (7.5/10)
Platform efficiency (7/10)
Ease of use (8/10)
Additional information (9/10)
Average number of assets and expiry times – 60 assets, 60 Seconds, 3 min, 5 min, 15 min, 30 min, 45 min, hourly (6/10 – mostly based on the lack of expiries above hourly)
Trading tools available – Risk per trade can be adjusted but the platform lacks other tools (7/10)
Trading options available – Up/Down (4/10)
Prices & Rates: Unknown price feed
Why Hello Binary Platform sucks?
According to their website, “Hello Binary is a provider of a unique, all-in-one Binary Options platform” but I cannot see what is so unique about it. In fact the platform looks very much like SpotOption but lacks the features that made the latter so popular. The only type of tradable option is Up/Down and the expiry time is very limited, with the longest available being hourly, so traders who are looking for a normal amount of diversification will be utterly disappointed. You cannot trade Touch options with a weekly expiry, you cannot trade end-of-day expiries… you cannot do a lot of things. In other words, the platform is way too basic and still needs a lot of work.
Why Hello Binary Platform doesn’t suck?
Probably the main advantage of this platform is the fact that Risk can be adjusted. Of course, other platforms offer this option as well but it’s a useful feature nonetheless and it’s worth mentioning. The trader can click in the upper right corner of the platform, where the payout percentage is shown and a drop-down list will appear. Here the trader can choose between a high payout and no refund or a lower payout and some refund percentage. The lower the payout the higher the refund, within some limits of course.
Hello Binary doesn’t offer us a lot of information regarding the technology used. So far we know that a mobile application is available, their CRM is based on AJAX technology and the platform uses the latest HTML5 technology. That doesn’t say much to me as a trader. However, all this technology could be used in a better way because several features which are now a standard in the industry are missing: no long term expiries, no technical analysis tools, no Traders’ Sentiment bar and the way of selecting assets is clunky. Overall the platform is not bad and works as it should but lacks important features.
My Trading Experience with Hello Binary
Once I managed to locate the USD/CAD pair which is starting to become one of my favorites, I adjusted my risk profile to get a 65% payout and a 15% refund in case of an unsuccessful investment and I selected my investment amount. Since the only options I had were Call and Put (because the platform doesn’t offer me the possibility to trade other types of options), I clicked Put because the pair was showing a clear down trend. For my strategy I needed a 4 hour expiry but the longest available is hourly so I went with that. The outcome of the trade didn’t favor me as it expired Out of the Money; however, if I would have been able to choose a 4 hour expiry as I originally wanted, the trade would have expired In the Money. So, overall the experience wasn’t a good one because I felt limited by their expiries and by the fact that I am only able to trade Calls and Puts. On the other hand, my trade was opened quickly, with no requites or delays so the platform was responsive and reliable during my brief experience with it.
- 100% web-based
- Charts can be adjusted to full screen
- Mobile platform is available
- Ability to adjust the Risk profile
- Only one option type: UP/DOWN
- Lacks expiries above one hour
- Not visually impressive
- Lacks standard features