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About company:
FinRally binary options broker has existed since 2014.
Regulation
FinRally is not regulated at this time. The company explains this fact by the fact that if a broker is regulated in a certain region, he loses the ability to serve traders from other regions. For example, an EU regulated broker cannot accept clients from Australia and Canada. However, we advise you to read the reviews about the broker in our rating before opening an account with the company.
Trading conditions
The minimum deposit is $ 250 on a Bronze account. After registration, traders also get the opportunity to study on a free demo version, a 20% deposit bonus, and access to training materials.
By depositing $ 1,000, customers can open a Silver account. Distinctive trading opportunities: 3 risk-free transactions, participation in a master class, compensation for unsuccessful transactions, a 50% deposit bonus.
The Gold Account includes additional services such as a Swiss payment card, a personal account manager, a 100% deposit bonus. The minimum deposit amount is $ 50,000.
In addition to the above accounts, FinRally offers its own investment offers with a pre-fixed rate of return for active clients. The capital invested by traders is managed by the company's analysts. At the same time, the company claims that they guarantee the full return of funds invested in the Fixed Income Account, regardless of the results of trading.
Master classes, in which the owners of the Silver and Gold account can take part, are conducted by a professional trader with 20 years of experience, Abe Kofnas. The master class examines the theoretical and practical aspects of trading.
FinRally trading platform
Spot Option is the most popular trading terminal among binary options traders. The web application can be used anywhere you have an Internet connection. You can also trade from mobile devices.
Trading assets:
shares (19); currency (12); goods (7); indices (11).
The minimum transaction amount with FinRally is $ 1, and the maximum is $ 1,500.
In addition to all the usual SpotOption features, FinRally's trading platform has some unique features:
Fundamental Analysis - Daily reports on market trends, including forecasts.
Technical analysis - a daily study of the behavior of various assets from a technical point of view, including forecasts.
Market news - all relevant news that can have an impact on the market.
Expert comments - reports from professional analysts.
Types of binary options
Offered option contracts: High / Low, 60 Seconds, One Touch, Ladder, Pairs. Compared to other binary options brokers, FinRally offers a large selection.
Above / Below is the most popular type of binary options. The trader must choose the direction in which direction the price will move. Long Term. The option is valid for several weeks or months. "60 seconds". The option expires in 1 minute. "One touch". The investor has to guess if the price will reach a certain value. The Pairs option allows you to make a profit by trading with two different assets.
The Ladder option is a kind of High / Low options in which a trader can fix a certain profit after the price reaches a certain level.
Ways of payment
FinRally offers a wide range of deposit methods: credit cards (Visa, MasterCard, Maestro, AMEX, JCB), electronic payment systems Neteller, Perfect Money, Web Money, Qiwi Wallet, Yandex.Money, Bitcoin, Alipay, Ok Pay, China Union Pay ...
Withdrawal requests, according to the information on the website, are processed within 1 hour. The minimum withdrawal amount is $ 50. You can trade in the following currencies: USD, EUR, GBP or RUB. FinRally does not charge any fees for deposits and withdrawals.
Customer support
Available 24 hours a day, 7 days a week via chat, feedback form, email and phone numbers for the UK, Russia, Hong Kong, Thailand.
Pros:
quick withdrawal of funds; demo account; the possibility of passive investments in a fixed income account.
Minuses:
not regulated.
FINRALLY is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
FINRALLY profits from traders' trades, usually in two main ways
.
First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. FINRALLY received a score of 1 of 5 on our resource.