Starting in 2008 as one of the first binary options traders, EZTrader has become an institution in the online trading industry and was the first organization to create the method of binary option trading over the Internet. The platform has gained popularity, especially in Europe and even in the outside trading community with its advertisements that feature celebrities and its partnerships with European sports teams.
When it was starting out, EZTrader did not perform well, with many people labeling the service as scam. However, as time went by and with a few management changes, the platform became widely-known and the company earned a good reputation that paved the way for other similar platforms to exist and to enjoy popularity today. However, EZTrader remains to be one of the most popular options in the market when it comes to binary option trading. It boasts of its being the largest brokerage in Europe. For EZTrader, trust is key to its continuing success, having earned the confidence of its many users, beginning and experienced traders, and even potential clients.
The platform is owned and operated by WGM Services Ltd, under the Cyprus Securities Exchange Commission (CySEC). With license number 203/13, all the trades being performed at EZTrader are secure and legitimate. Their headquarters is located at 11 Vizantiou Street, Office 401, Strovolos, Nicosia, Cyprus. Clients can reach them through their telephone at +44 203 608 1951.
Creating an account is relatively simple. From the homepage, press the “Open an Account” button. This will take you to a page where you enter your personal data like your name, date of birth, phone number, and email address, as well as the type of currency that you like to trade in. It is only after this step that you can start depositing funds that will subsequently indicate the type of account that you will acquire.
EZTraders offers three accounts: EZTrader Basic Account, Advanced Binary Options Account, and VIP Binary Options Trading Account. However, one of the issues that clients have to deal with EZTrader.com is that it does not have a web page that displays all these accounts. In other platforms, this is available to help users make an educated decision on which account to open.
The Basic Account requires a minimum initial deposit of $200, but it allows trader to deposit for as much as $999. The good thing about this account is that it already comes with 30% bonus, so you get $60 bonus even if you only choose to place the minimum initial deposit. EZTrader also gives you an eBook and a free video to educate you more about binary options.
For the Advanced Account, you have to deposit between $1000 and $9000. You get everything that Basic Account offers, except that you get 50% bonus instead of 30%. A personal account manager will also be assigned to you to give you two training sessions, each for 30 minutes. Advanced Account also gives out free Apple iPad or similar tablet computer once you earn $50,000 from your trades.
The VIP Account requires an initial deposit of $10,000 or higher. While this sounds intimidating, know that this account comes with a 100% bonus, turning your $10,000 into $20,000. You get everything from the advanced account. In addition, you get three risk-free trades, each worth $500. These are the types of trades in which you can win, but you cannot lose. A senior account manager will also create a long-term financial plan, which should complement with the three personal training sessions per week. It also sends daily binary options information to your smartphone and gives out an Apple iMac once you earn $50,000 from your trades.
Users have the option to create a demo account so they can have a grasp of the system first before risking or gaining anything.
Overall, the interface is quite simple and pleasing to the eye. The website is divided into several tabs, which help segregate the Trading Option from other categories, such as the Education Center and the List of Assets. Its color palette, with white as the background and blue and yellow as the primary colors, does not restrain the eyes that visitors and users will find it easier to view and read.
As mentioned, the bonuses depend on which account you obtained. The Basic Account gives 30% bonus. The Advanced Account is complemented with 50% bonus, while the VIP account offers 100% bonus.
Payment & currencies
EZTrader accepts a total of 10 currencies, with some of these currencies seeing very little action on other platforms: US Dollar, Euro, British Pound, Chinese Yuan, Russian Rouble, Brazilian Real, Swedish Krona, South African Rand, Australian Dollar, and Danish Krone.
For deposits and withdrawals, there are numerous alternatives to add funds to your account and to take it out. These are through credit cards, wire transfers or international payment providers like Moneybookers.
The specifics of how to withdraw from your account is outlined in the website. Basically, you first have to initiate the request. Then, you have to select your withdrawal preferences, either to your credit card or via wire transfer or Moneybookers. Now, there is a bit of a negative here. Wire transfer transactions come with a 15 euro processing fee. You might be thinking that it is fine as you can still use your credit card. However, EZTrader cites some anti-money laundering laws that they can only allow you to withdraw to your credit card the amount that you have deposited so far. This means that any money you actually earned on the site will still have to be withdrawn via wire transfer. This means that you have wait until your profits are high enough to make up for the high processing fee. Waiting time for your withdrawal to be transferred to your account normally takes seven business days.
The minimum trading amount is $25, with a maximum of $3000. The site boasts that you can see return percentages as huge as 95%, depending on how much you invest in, although the average rate is more like 80%, which is not bad.
Platform & assets
EZTrader is home to hundreds of assets. They are as follows:
- ASX – Australia, AEX – Netherlands, DAX Futures, CAC40 Index Future, DAX – Germany, Dow Futures, FTSE – London, Dow Jones – US, FTSEMIB – Italy, IBEX – Spain, Hang Seng Hong Kong, Kospi – Korea, Nasdaq Futures, Nasdaq – US, Niffty – India, OMX Stockholm 30, Nikkei – Japan, S&P 500 – US, Sensex – India, S&P Futures, Swiss Market Index, Tel Aviv 25 Index, Taiex, and TOPIX 500 – Japan
- Alibaba Group, Abercrombie & Fitch Co, Amazon, AT&T, Apple, Baidu, Coca-Cola, Citigroup, Disney, Exxon Mobil, eBay, Facebook, Goldman Sachs, GOLD ETF, Google, Las Vegas Sands, JP Morgan Chase, McDonald’s, Netflix, Microsoft, Nike, Potash Corp, OIL ETF, Qualcomm, SILVER ETF, Ralph Lauren Corp, Teva Pharmaceutical Industries, Twitter, Tesla Motros, AXA, Bank of Scotland, Banco Santander, Barclays, BMW, BBVA, BNP Paribas Bank, Credit Agricole, BP, Dailer AG, Deutsche Telekom, Deutsche Bank, EDF – Électricité de France, Ericsson, ENI, FIAT – ITALY, Gazprom, France Télécom, Hennes & Mauritz, Generali, HSBC, Intesa Sanpaolo, Inditex, Nordea, Sanofi-aventis, Renault, Telefónica, Unicredito SpA, Tesco PLC, Vodafone, ANZ Ban – Australia, Volvo Group, Bezeq, Bridgestone Corp., BHP – Australia, Commonwealth Bank, Leumi, Fujifilm Holdings, Hapoalim, Reliance – India, ICL, Rio – Australia, Sony – Japan, Samsung, Tata Motors – India, Teva, and Tata Steel – India,
- Oil, Silver, Gold, Copper
- AUD/USD, EUR/AUD, CAD/JPY, EUR/CAD, EUR/GBP, EUR/CHF, EUR/JPY, GBP/CHF, EUR/USD, GBP/JPY, NZD/USD, GBP/USD, USD/CAD, USD/JPY, and USD/CHF,
Trading on EZTrader is relatively simple and quite classic. You can really see that this is one of the oldest trading platforms out there.
The moment you click the trading tab on the website, you will see the familiar line graphs, where you can choose two options: the Classic Binary Option and the 60 Seconds Option. In the middle of these two tabs is the Sell Option. This is not a trading option; rather it is a loss protection option. If you already have a trade ongoing, and it seems like you are going to lose, you can sell the option back to the broker. You still lose money, but you will only end up losing less than the amount you would have. Do not forget that you have to do this before expiry time.
The Classic Binary Option works like most normal binary options. You select which asset you want to trade in. You select an expiry time, which can be as short as a few minutes to a whole day. Then you predict if it will go up or down.
For the 60 Seconds Option, you actually have the choice of making your expiry date 60 seconds, 90 seconds or 120 seconds. These are practically the same as the Classic Binary Option, only with shorter expiry times.
Once you have trades active, a table will form underneath the line graphs, which will summarize all your active trades.
EZTrader has an app that supports both iOS and Android devices. It has been designed for smartphones and tablets. The app is fairly easy to use with an intuitive interface. There is not much of a learning curve if you are already used to the browser version. The app is kept secure using the mobile technology protocols. It is highly reviewed, with users giving it 4 out of 5 stars.
EZTrader is available in several languages, although regrettably only in all Western European languages. The languages supported are English, Spanish, French and Portuguese.
When EZTrader first entered the scene, their customer service left a lot to be desired. However, that has since changed. Their multilingual customer service is accessible through email at support@EZTrader.com, primary phone number, any of their non-English phone numbers, or live chat. They also have a complaints center, where client concerns are attended to. Their email service usually responds within the day.
To get a personal account manager, you have to sign up for an Advanced Account. A VIP Account will get you something even better: a senior account manager.
Pros & cons
After years of being in the market, EZTrader remains highly competitive. It has successfully adapted with time that it stays solid to still compete with the others that have come after it. It may lack in terms of its types of options, but it makes up for it with a wide variety or assets, except maybe when it comes to Forex currencies.
A few other problems include withdrawal fees, Western European pool of languages, and lack of summary of accounts. However, it more than makes up for it with reasonable rates of return, expert customer support, and a smooth user interface.
If you do decide to opt for EZTrader, it might be better if you can subscribe to their more expensive accounts, as these seem to be worth it, especially considering that 100% bonus.
Head Office Telephone Number:
Head Office Email Address:
Customer Service By:
Phone, Email, or Live Chat
English, Spanish,French and Portuguese
Customer Service Hours:
Email Response Time:
Within 48 hours
Personal Account Manager:
Customer Care Telephone:
+44 203 608 1951
Customer Care Email: