BetonMarkets
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  • BetonMarkets

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Broker Name: BetonMarkets
Platform: BetonMarkets
Founded: 2000
Bonus: 10%
Return/Refund: 50-95%/0%
No. Of Assets: 58
Regulated:   
Demo Account: No
Minimum Deposit: 5
US Traders:   Not Accepted

BetonMarkets Review

by Martin Kay

 

### Notice – BetonMarkets is now Binary.com. Check out the Full Binary.com Review here. ###

 

 

Editor’s Note – Why does BetonMarkets Suck in 50 words?

First of all, BetonMarkets is a betting company (Bookmaker), not a Binary Options broker. ThatSucks.com (former BinaryOptionsThatSuck.com) activates in the field of BINARY OPTIONS, and I consider that “betting” on financial markets SUCKS. It stands against everything we try to teach on our website and on our Forum. Betting is not Trading and should not be considered as such just because it has similarities.

 

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Why Bet on Markets doesn’t Suck?

 They offer you the possibility of limiting your bets, meaning that you can set limits for yourself regarding the time you spend on their site, amount you bet or the number of trades…sorry, bets that you take. Also there are links to websites that can help an addict with his gambling problem. It seems like they care about their clients’ well-being and don’t want them to become gambling addicts. It has nothing to do with Binary Options (or at least I hope you don’t see Binaries as gambling) but setting those limits can help a gambler…I think.

 

 

 

BetonMarkets – (Not) The Future of Binary Options

I consider that in order for this industry to grow, brokers and traders should move as far away as possible from any resemblance to gambling. Indeed trading is very close to gambling for an unaware person and the big mistake of wrongly mixing trading and gambling is easily made. BetonMarkets openly declare they are a gambling company, even regulated by the Isle of Man Gambling Supervision Commission. They conduct their business in a transparent manner, under the supervision of a gambling regulatory body so everything seems legit from a gambling point of view. Now let’s see how they look from a Binary Options perspective: first of all, I like the transparency and the fact that I know right from the start who I am dealing with. The company that owns betonmarkets.com is Regent Markets (IOM) Ltd, located in Isle of Man and part of the bigger Regent Markets Group. The platform is a new one to me but it looks a lot like a Binary Options platform, with all the types of available options grouped in its upper side and in the middle the rest of its features can be selected: underlying asset, amount to bet, expiry time. The thrill seekers will be happy to know that BetonMarkets offers the fastest expiry time I have ever seen or heard of: 30 seconds expiries…now that’s fast. If you’re looking for a quick bet, that could be a wonderful and exciting tool; if you’re looking for a trade…, you might want a longer expiry time.

 

BetonMarkets also offers a free “Guide to Financial Betting” and free Webinars but you will find no Glossary on their website because there aren’t any financial terms to explain. After all, we are betting on markets, not trading them. However, a good addition is the charts they provide with the possibility to change time frames and add technical indicators. I wonder, if a betting company can provide normal charts, not just lines, why don’t all regular Binary brokers offer this feature as a standard?

 

 

Is BetonMarkets a Scam?

They are a regulated betting company; they don’t hide the name of the owning company and overall provide all the information needed with transparency and honesty. These are all positive things but do not exclude a scam. We did not make a withdrawal to see if any problems arise but for the time being, our research doesn’t indicate that BetonMarkets is a scam.

 

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BetonMarkets Complaints

We are constantly on a lookout for any type of internet complaints and we noticed that opinions about BetonMarkets are mixed. Some people claim they have been trading a long time with BetonMarkets and everything is great but others complain about price manipulation, especially when you are on a winning streak. On forexpeacearmy.com a guy claims that he won a 400 pound trade but on his statement it appeared as a loss. We have no way of verifying this claim but if it’s true, things aren’t looking so good for BetonMarkets.

 

 

BetonMarkets Bonus

Unfortunately BetonMarkets doesn’t offer a bonus similar to the one we are used to from Binary brokers. The Live Chat assistant told me that I might get 10 bucks bonus if I contact customer support on email and ask for it but didn’t answer other questions related to bonus. I’m sorry, but I’m not going to start sending e-mails and beg for a measly 10 bucks. If BetonMarkets wants to offer bonuses to clients, they should make it public.  This is not the way a bonus should be offered: Boy, go beg for 10 bucks and maybe you’ll get it…   

 

 

BetonMarkets Withdrawal

They have numerous withdrawal methods and usually the minimum amount is the same as the minimum deposit which by the way, can be as low as $5. The fee for a wire transfer is $15 and zero if you chose to withdraw via E-wallet (Skrill, WebMoney, UKash, Liberty Reserve) or Credit/Debit card. The time for processing a withdraw ranges from 1 to 5 working days.

 

BetonMarkets Extras

The 30 second expiry time is definitely the shortest available in the industry and although I can’t find any use for it, probably some people like the thrill it can give.

 

 

 

BetonMarkets Ratings

User Friendly 10/20

The website’s only available language is English so it will be pretty hard to bet on this website for clients who don’t speak English.

 

Number of assets and expiry times 14/20

The range of assets offered is quite large and the user can chose from 24 Currency pairs, 27 Indices, 3 Commodities and 4 Random Indices. Expiry times are extremely flexible and range from 30 seconds to 365 days. Maybe the expiry times can be even longer but to be honest I didn’t try longer expiry times because I don’t think anybody will use them.

 

Commissions, Support and Effective return 13/20

There is no commission to open an account but you have to pay a $15 fee if you want to withdraw via wire transfer. Their support is not very helpful and the effective return depends a lot on the type of bet that you choose, but it is possible to have returns above 90%.

 

Deposit, Payment and Bonus 10/20

Deposits can be made via credit/debit card, wire transfer or E-wallets and the minimum amount is 5 US Dollars. Withdrawals are processed in a maximum of 5 working days which is a fair duration if they actually respect it. The bonus amount and conditions will be explained if you specifically ask for them when you deposit but the Live Chat representative told me that I might get a $10 bonus and refused to discuss further about the bonus.

 

Website Extras 16/20

BetonMarkets have a good charting package, 30 seconds expiry times and free webinars. I’d say these features can all be considered positive Extras.

 

 

BetOnMarkets Overall Rating – See Updated review of Binary.com

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