EZTrader has been offering Binary Options since 2008, which makes the one of the oldest, if not the oldest. They are incorporated in Cyprus, an EU country. There is some oversight by CySEC, but don’t expect anything major.
The platform is unique as well, totally proprietary for EZTrader. As far as I know no one uses this platform except EZTrader. We will go more into this platform below, it suffices to say now that it has certain advantages and disadvantages. Maximum payout is 95%, which is very high in comparison to other brokers and I would say that this is probably the biggest advantage.
They claim max 95% but we can inform you that this is true for very few underlying assets, most hover around 70-80%. Higher payout is better because you have a better chance to end up with a profit after a few trades.
You also get a 10% return on Binary Options that expire Out-Of-The-Money, which certainly helps any aspiring trader. Minimum deposit is $200, which is quite low. One disadvantage is the lack of a demo account. For more insight into EZTrader, read the full review below.
EZTrader have a very decent range of underlying assets, especially Stocks are plentiful. With 81 different assets everyone has something to choose from.
Whatever your preference you will find it. Only commodities are underrepresented in comparison to other underlying assets with only 5 assets. Most other brokers though don’t offer more than this though.
The currencies are not either as many as you might expect, basically just the majors. Not that important because you want to trade assets with lots of liquidity, so minor currency pairs are not the first choice anyway.
All regions are also represented, North America, Europe and Asia. Good for traders located in other regions than North America. European and Asian traders actually have an advantage, because they can trade in the evening assets that are in a later time zone. Asian traders for example can trade European Stocks and Indices and Forex as well with advantage.
As EZTrader has been around since 2008, reliability is very good. As we have tried out the platform we havent experienced any problems. EZTrader are adding new features every now and then. Recently they added Sell Options.
However, we haven’t had any issues with these new features. Use a dedicated browser for trading only since the rich trading interfaces take a lot of resources from the browser. Add-ons slow things down considerably.
Charting is not bad on the EZTrader platform, but definitely not the best. You can access price history and make some minor changes to the way price is displayed. See the image below:
What you cant do is request a larger chart. The chart, as you can see it tiny, probably the smallest of any platforms, verging on the ridiculous.
Its too small in our opinion to be of any use. The data displayed is also heavily filtered and looks like they have added some smoothing as well although that cannot be confirmed. How on earth can someone actually trade from these charts? Notice also the note below the chart: Chart for reference only. At least they admit they are crap.
EZTrader divides their assets into several asset classes, which helps a little to organize that many assets. 81 assets are a lot to manage and some kind of favorites would definitely help. However, there isn’t any such function, which can make it a daunting task for a trader to control. The charts as I mention above doesn’t help either bigger charts would be much better.
EZTrader don’t offer a demo account, which is problematic for most traders especially beginners. All Forex brokers offer a demo account, why don’t Binary Options brokers do the same? I am sure they have a reason for this.
Withdrawing and depositing is easy with EZTrader. The choices for depositing is not as many as some others but should be enough for most of us. PayPal is of course missing.
Support staff is very knowledgeable and the time for an answer is decent. They seems to be much busier than other broker. They prioritize customers so if you are not a customer it might take time to get an answer, a few minutes is not uncommon in the Live Chat.
The educational part of EZTrader leaves a lot to be wished for. Only the most basic stuff is covered, which is very surprising for such an old Binary Options broker.