We ventured into our search to find this out. We have gathered that this broker rates average and has been around for quite some time in the industry. We display their low results in the graph which can be found below.
Since we are still researching about this broker, we cannot say for sure that this broker is 100% legit. In order to be sure of our traders’ satisfaction we recommend you to Proceed to SafetyProceed to Safety OR choose one from the list of Top Trustworthy Binary Option Brokers:
Top 3 Brokers February 2017
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2020 Binary Review
Established in June 2015, 2020 Binary is one of the latest binary options brokers on the market today. They are operated by a company named DnS Market Consultants Ltd which is based in St Vincent and the Grenadines. From the information available on their website, we can see that the broker aims to offer an excellent service to traders including an excellent trading experience. They say that they offer 24/7 customer support, a variety of trading tools, comprehensive learning materials, added security and a wide range of features to enhance trader experience. Despite being new, the broker seemed very efficient and this is the reason our team decided to undertake an investigation and reveal the truth. So in this review, you will find out whether you can rely on 2020 Binary for your trading needs or not.
Is 2020 Binary a Scam or Legit Broker?
When it comes to reviewing a new broker, one of the first things that we look at is its licenses. 2020 Binary is not a licensed broker. They are not regulated by CySEC. Traders must always sign up with a broker that is regulated.
While it does not mean that brokers that are not regulated are scams, signing up with a regulated broker ensures that your funds will not be mismanaged by the broker. Your funds and your personal information will always be safe because they operate in compliance with the laws of their regulatory authorities. 2020 Binary may not be a scam but since they are new and still building their reputation in the industry, we would advise traders to invest with a broker that is already reputable.
2020 Binary Trading Platform & Tools
The trading platform that 2020 Binary uses is called Hello Markets. There are just a few brokers who operate on this platform and this is the reason we are not quite familiar with what it has to offer.
Traders can choose from 55 different assets from categories such as commodities, indices, currency pairs and stocks. The asset list is not vast as there is only a limited selection of assets available. They offer 10 minute option which means trades will expire every 10 minutes of the hour. The one hour option expires exactly on the hour. This means that if you choose a 10 minute trade at 12.35, the option will expire at 12.40 and not at 12.45.
Account Types and Bonuses
Currently, 2020 Binary offers four different account types. The first is the Starter Account and you need a minimum deposit of €500 to set it up. The second type of account is Standard Account which can be set up with a deposit of €1000. The third type is Silver Account and the deposit requirement is €5000. Lastly, they offer Gold Account and it can be opened after making a deposit of €10,000. Bonuses range from 50% for Standard Account and 150% for Gold Account.
How To Open Account with 2020 Binary
- Free Sign Up – to open an account with 2020 Binary, you must fill up the registration form on their website.
- Trade and Profit – to start trading, you must deposit money in your account.
- Withdrawal – when you have earned profits on your investments, you can use one of the methods available by the broker and withdraw your money.
Deposit & Withdrawal Procedures
The payment methods available at 2020 Binary include credit cards and bank wire transfer. All the major credit cards are available giving traders a variety of options. But, when it comes to bank transfer, traders must keep in mind that payments will attract a fee. The minimum amount needed to open their Starter Account is €500 which we think is pretty high for the industry. Currently, we don’t have any information about their minimum withdrawal requirements.
When it comes to contacting the customer support team at 2020 Binary, traders can choose between phone call, email or live chat. Although they claim to offer 24/7 service, we did not get a quick response to our email. We also contacted them via live chat when they were showing online, but we did not get any answer from their team. Our overall conclusion is that 2020 Binary does not have a professional and efficient customer support staff. It may take a long time before you get any of your questions answered.