As with all the other brokers, I never review them unless I’ve traded a sufficient number of trades with them. Given the rate that I’m going (or losing money right now), let’s set a goal of 100 trades before I review their platform.
From what other people tell me, no one ever has an issue with withdrawals. They’re fairly fast when it comes to withdrawals, that in combination of trying them out in January is when I’ve recommended them all this time. Whether or not that changes in the future depends on my review (most likely will still recommend them since fast withdrawals beats pretty much every other factor out there). Given the trades I tried out yesterday + the 1 trade today (loss) + demo trades, I’ve concluded the following things:
- There’s no way to be aggressive when you trade on their platform. I’m too used to BBinary and TradeRush where I’m able to enter trade after trade quickly for those times where price moves fast. Given the “processing time” to enter a trade, this prevents quick entries and it also prevents entries during fast price movement. If price moves away from your entry, it won’t let you in and will show “price has changed, please try again”. I find this annoying as it has come up several times already.
- I would “like to” blame the platform for some of my losses because after being rejected the original try entry, I just click without thinking to enter again. This leads to be worse trade entry that I’d normally be happy with. Imagine a scenario where price touches the S/R level for 3 seconds, you want to enter but after 3 seconds it moves and your entry gets rejected.
- The processing time is on every trade on all their trade features including the 2 minute trades, bringing me to my next point. You need precision timing to get into good trades for the 2 minute trades and the processing time really messes up the mechanics of fast trading. Potential problems/strategies I’ve noticed for the 2 minute trades, you must get in near the edge of the candle in order to win, if you get in near the middle, your odds are cut off a bit. I’ll make a strategy video for these when I come up with one that works effectively with the processing times (sorry again, I know people have been expecting one for quite some time now).
- Regarding touch options, these are weird, they change the payouts from time to time and the spreads fluctuate. I’m fine with the spread, but the payout should be fixed. Spread in this context is the price between the market and the target touch price, not between your chart price and their price.
- Lastly, the odd thing with their expiries for their trade features. You can’t pick :30 or :45, they automatically rotate it for you as they become available. For example, EUR/USD always expires at :00 and :30 and USD/CAD always expires at :15 and :45, this is pretty weird. The normal options can be picked, but the touch or boundary are at their discretion.
That’s pretty much it for the preview, these will be concluded in the ‘platform’ section of the review after I reach 100 trades (assuming I don’t wipe my account before then), if I do wipe out then that just automatically means I write a review. So far between Jan and now, I have a total of 50 trades.
As for trading, after demo trading some more touch options today, I don’t think I want to actively trade any of the features on live trading until I develop a good strategy to use them properly. I’ll stick to normal options for now.