Editor’s Note – Why Does Ayrex Suck in 50 Words
The website is rather slow and seems somewhat abandoned. Their Market News section just returns a 404 error and the economic calendar is empty. Also, there is a clear lack of a deep and comprehensive education center. There is only some info about how to deposit and use the platform. It’s not enough and ThatSucks!
Why Ayrex Doesn’t Suck in 50 Words
They have a very accessible Demo account. Just click and you are in. No email required no sign-up or any other details. That’s nice, but not very helpful unless you want to practice trading, otherwise, you could simply open a Demo with a regulated, trustworthy broker and then go Live if you feel like it.
Is Ayrex a Scam?
Ayrex has been in business since 2014, which is a reasonable amount of time, so you would think that a scam broker wouldn’t last that long. From that perspective, Ayrex is not a scam, but on the other hand, they are STILL not regulated despite their representatives saying a few years back that they are pursuing CySEC regulation. Can we see that license? No? Too bad. On top of that, the overall Internet vibe is very negative and their reputation has taken a nosedive over the last period. We cannot call Ayrex a scam but there are definitely better choices out there.
Should I Open an Account with Ayrex?
Ayrex is a binary options broker, founded in 2014 and owned/operated by Advanced Binary Technologies Ltd with Registration. no: C44622. Unfortunately, the company is not regulated by any known financial watchdog, which makes this broker less trustworthy.
The company behind Ayrex has created its own platform but the interface looks very simplistic and is stripped of almost all the tools that a trader needs, except Bollinger Bands. Yes, this is the only indicator that you can add to your charts, and other than that, you can’t even draw a trend line or a horizontal line. On top of that, only binary options are available on the platform and the longest expiry time is 5 minutes (for Short Term Options), which is extremely short and limits the trader to a fast-paced trading style that screams “gambling” more than technical trading.
Ayrex also offers the regular High and Low options which can be traded for 15 minutes up to an hour. Finally, the One Touch options offer “Touch” and “Not touch” with the desired direction for the same expiries as for the High and Low options. I would like to see the company adding more expiry choices as well as option types and assets in the future so long term traders can also trade on this platform.
Ayrex is located at Office 590, Suites 5 Horsfords Business Centre, Long Point Road, Charlestown, Nevis, St. Kitts and Nevis. Support can be reached either via email [email protected].
During the early days of this broker, the Internet masses didn’t have much to complain but lately, negative reviews are starting to emerge, with clients accusing them of manipulating trades, delaying withdrawals and more. It’s safe to say that Ayrex doesn’t enjoy the most stellar of reputations at current time, but on the other hand, the number of customer complaints is not huge and as we know, all brokers have unsatisfied customers.
Ayrex Regulatory Warnings And Announcements
06.07.2016: The Australian Securities & Investments Commission (ASIC) has warned of an increase in unlicensed broker activity, targeting over 40 companies. Ayrex is one of the brokerages that acknowledged the warning and has taken steps to properly address the situation. According to ASIC, they have made rectification actions. Source: ASIC 16-218MR.
Bonuses are currently offered at rates of 10%, 20%, and 30% as follows: to get a bonus you will have to deposit at least $100; for deposits between $500 and $999, the client can choose 10% or 20% Bonus. All deposits above $1,000 can be credited with 10%, 20% or 30% Bonus. The bonus percentage must be decided by the client.
The bonuses cannot exceed 10,000 USD/EUR and are limited by time, 90 days. The required turnover is a 40*bonus, which would be OK under normal conditions but Ayrex wants you to do it all in 90 days, otherwise, they will cancel the bonus AND profits made while trading with that bonus. The platform also offers the possibility to cancel a bonus instantly, so you can get your original deposit back at any time.
Withdrawals are very fast and with a low minimum requirement: only $5. Processing times are about 3 days but according to users, some delays may occur. The methods are credit cards, wire transfers and e-wallets (Neteller, Skrill, FasaPay, etc.). According to their website, the first withdrawal of the month is free but consequent withdrawals will be charged an unspecified processing fee.
Ayrex offers a Demo contest called Binary Blast where you can win real money by placing high on rankings. Islamic accounts are also available but besides these two things, Ayrex really falls short in the “Extra” category.
Trading Bitcoin With Ayrex
The Bitcoin cryptocurrency in special and blockchain technology, in general, are taking the trading world by storm and almost all major brokers are starting to implement them for trading, whether it’s Binary Options or CFD. However, Ayrex doesn’t seem to embrace the crypto trend because they only offer Bitcoin, despite their representatives promising years ago that they will implement altcoins as well. Furthermore, at the time of our visit, Bitcoin was listed as “inactive”, which is weird considering that BTC is an “always-on” digital asset.
User Friendliness 18/20
The platform is user-friendly due to its simplicity (no tools), the website is available in 9 languages but the load times are long and the whole experience is clunky. Free Demo is available; US traders are not accepted.
No. of Assets and Expiry time 15/20
Ayrex offers more than 35 assets, including major company stocks, indices, currencies, commodities, and Bitcoin. Considering that most brokers offer 100+ tradable assets, Ayrex’s asset basket is really disappointing. The platform is oriented towards short time frame traders; Expiry times for short-term trades can be chosen in increments of 1 minute up to 5 minutes. High and Low options, as well as Touch options, expire every 15 minutes up to an hour.
Commissions, Support, and Effective Return 15/20
There are no fees for deposits but after the first withdrawal of the month, clients will be charged a processing fee. The exact amount is not specified on the website. Live chat support is not available, so the only option is to send an email. The returns are on the low side, ranging between 60 – 80% but only a few assets showed payouts in the 80% range.
Deposit, Payment, and Bonus: 16/20
The minimum deposit and investment amount are very low and competitive: 25$ for deposits and only 5$ per trade. Withdrawals have a low minimum of $5, and the first withdrawal of the month is free. You can use Skrill or Neteller for the quickest possible withdrawals. Bonuses can be as high as 30% and require 40 times the bonus amount to be available for withdrawal. They are only valid for 90 days and they can be canceled at any time by the client but canceling a bonus also means you will forfeit any profits made during the time the bonus was active. Same applies if the bonus turnover is not fulfilled in 90 days.
Website Extra’s 16/20
The Demo account offered by Ayrex is one of the easiest to get: just click a button and you can start demo trading. You don’t even have to give them your name! Other interesting extras include trading signals to help predict the asset movements (only available for real account holders) and a Demo contest called Binary Blast that allows you to win real money if you do well on Demo. Terms and Conditions apply so make sure you read them.
Ayrex Overall Ratings = 80/100