EZTrader entered the binary option trading market in October 2008, the first to market the type of binary options reviewed here. They adopted the strapline ‘Option trading made easy’ which focuses on the ease of binary option trading and the simplicity of their site. The site is 100% web based which makes the user experience more hassle free and more enjoyable.
They offer trades on over 40 assets covering the USA and European markets.
EZTrader keeps its users up to date with current market news via their Reuters news feed, asset information links and real time asset price graphs.
Staying competitive in the market, they offer payouts of 60-70% on in the money options with a less competitive payback of 0-5% for out of the money options. They have a secure trading environment which protects an investor’s personal, financial and trading information.
The site is functional and attractive and though relatively basic it ticks all the boxes for an honest and user friendly trading site.
As is usual, the ownership of the company is unknown except for information on the site, stating that “EZTrader.com is a private corporation. It is managed by a few veterans of the European financial industry and some expert technologists.” So far, all of our experience using their site cannot fault this.
- Real time viewing of asset’s market price
- Promotion available daily
- 44 underlying assets to choose from
- Today’s Call and Put % split
- Helpful Customer Support
Established: January 2009
Tel: 646 666 9677
EZTrader rating – 70 stars out of 100
Usability – 7 stars
The EZTrader site is a simple and unfussy site. Its glossary and FAQ sections are clear and useful tools which help its users understand the basics of binary option trading.
The My Trade section is comprehensive and enables investors to see all past and current trades. Additionally, the My Account section provides succinct information about how to deposit and withdraw funds and the status of these actions.
No software download is needed, as the EZTrader platform is 100% web-based. This ensures a smoother buying experience as no software updates are needed and purchasing can be made from any computer.
A downside of the site is navigating and understanding the assets. Rather than being able to select an asset and discover its available expiry times, an investor must first select the relevant asset tab and then check the End of Day tab. This is an unnecessary extra step should a user wish to quickly purchase an option. The site also lacks further information regarding the asset such as trading times and general asset information. However on some indices there is a News button taking the investor to news bites about that particular asset. This is a lovely touch to the website.
A downside to the site is that the maximum investment amount per option is $1,500 which limits the potential returns.
Overall, using the site is an enjoyable experience.
No. of assets – 7 stars
EZTrader offers options on the following assets: 7 indices, 25 stocks, 8 currencies and 4 commodities, totaling 44 assets for purchase. These assets concentrate on the USA and European markets.
Expiry range of options – 5 stars
The expiry range is very short, with the end of the day being the furthest in time an investor can purchase an option.
Effective return – 7 stars
The effective return is the total percentage of return offered on an option. On the EZTrader website this is 75-85%, split between 60-70% for in the money options and 0-15% on out of the money options. This is near the top end of the industry, though an investor will only receive 0-15% payback on Nasdaq options which means he could potentially lose 100% of his investment on most of the site’s options.
Languages – 5 stars
The EZTrader website is only available in English.
Website extras – 6 stars
A useful feature of the website is the graph displayed next to each asset, showing the real time market prices of the selected asset. This shows an investor the recent fluctuations of an asset.
Additionally the Homepage has a couple of interesting features. Today’s Trades is a box showing the percentage split between Calls and Puts that day. The Reuters Financial News live feed is also displayed, enabling users to keep up to date with the market news.
Fees/commissions – 9 stars
EZTrader does not take any fee or commission from its buyers when they purchase options. They are free to place, for free, as many options as they desire. A user may also withdraw money as many times a month as he wishes at a cost of $20 by cheque, $30 for wire transfer and at no charge to withdraw by credit or debit card, as long as the amount is not larger than that initially deposited by the card. Over that amount, his PayPal account is credited with the withdraw balance.
Loyalty offers – 10 stars
The EZTrader site constantly offers bonuses to its customers on the Homepage of its website. These normally entail a bonus once a deposit of a certain amount is placed into the account. They also place no limit on the number of times a user can take advantage of the bonus which is an extremely beneficial feature of the website.
Payment methods – 5 stars
Deposits can be made by credit card only. Accounts are held in US dollars.
Support quality – 9 stars
The EZTrader Customer Service team is available by phone on four international numbers and by email. Additionally there is a live chat with a customer service team representative where they respond immediately and are extremely helpful. The service is polite, speedy and helpful. The opening times for customer services are unspecified.