Review of the binary options broker MFXOptions
MFXOptions is a binary options broker created in 2014 which allows to trade with several types of options based on many financial assets (underlyng markets) such as currency pairs (Forex), stocks and indices of various markets and commodities. This broker is a brand of International Brokerage Company Master Services Inc, a company with years of expecience in the financial markets and the owner of the Forex and CFD broker MFXBroker.
Type of Broker
MFXOptions is a Binary Options Broker
Country of origin
The headquarters of this broker are located in Rusia with offices in other countries like Ukraine and Georgia.
At the moment, the broker does not have a license from an important regulatory agency of financial services.
MFXOptions offers the following financial instruments to trade with binary options:
- Forex Market: 22 currency pairs of the Forex market, including the most important like the EUR/USD, GBP/USD and USD/JPY and other more exotic like the USD/ZAR and the USD/SGD
- Commodities: 8 of the most important and traded commodities in the market, such as crude oil, gold, silver and sugar among other.
- Stocks: 80 shares of the most important companies in the stock markets of United States, Asia and Europe, including Amazon, IBM, Goldman Sachs, Barclays, Fiat, Hitachi and Tata Motors among others.
- Indices: 38 of the main stock indexes worldwide, including the S&P 500, NASDAQ, IBEX, ASX, Bombay SE, SSE180 (China) and others.
- Assets pairs: 20 pairs of assets to trade with pair options. In this case, the client can trade with binary options contracts based on pairs of stocks (such as Apple vs Google), pairs of commodities (such as gold vs. silver) and pairs of stock indices (such as DAX vs CAC).
Types of Binary Options
MFXOptions allows its clients to trade with the following types of binary options:
-Traditional Call/Put binary options (High/Low options): This type of binary option is the most common and traded in the market thanks to its simplicity and the quick and high returns that it offers to the trader. In this case, the investor must predict whether the price of the financial instrument (the underlying asset) will finish above or below the current market price of the asset once the contract expires. MFXOptions offers a variety of maturities to operate with High/Low options, covering a range from 60 seconds to several weeks, which means that the trader can trade with short, medium and long term options.
-Pair binary options: It is a type of option where the trader speculates regarding the performance of an underlying asset relative to another, which is usually in the same category. Typically, these options are based on pairs of assets of the same type, such as 2 stocks in the same sector (Google vs. Apple) and precious metals (gold vs. silver), in which the trader must determine which assets will outperform the other in a specific time period.
-60 seconds binary options: These are High/Low options with a maturity of 60 seconds. Because of its short duration, these options are ideal choices for traders interested in making money with micro-movements of the market, especially in volatile instruments such as oil.
Payment Offered by MFXOptions
-The earnins offered by this broker for binary options that expire “In The Money” are the following:
- High/Low Binary options: 70%-85% of the capital invested in the option´s contract.
- Pair binary options: 70%-85% of the capital invested in the option´s contract.
- 60 seconds binary options: 70%-75% of the capital invested in the option´s contract.
-In the case of options expiring Out The money, MFXOptions allows to recover from 0% to 10% of the contract inversion. This feature allows to minimize the impact of losses for the trader´s account.
This broker offers a unique type of trading account for all its customers, which enables to trade with all options contracts and underlying assets offered by MFX Options. Regardless of the initial amount deposited by the client, this account offers all the basic services of the company including:
- Access to the online trading platform.
- Access to all types of binary options contracts and underlying assets offered by the broker.
- Trading platforms for mobile devices.
- VIP services for clients with experience.
- Education resources for the trader.
- 24/7 professional customer service.
- Continuous access to market information.
-No previous deposit is required.
The trading platform of the broker is a web based application developed by SpotOption which requires no download or installation. This application can be accessed from anyplace with an Internet connection through the website of the broker which gives the trader a great versatility. This platform is designed specifically to trade with High/Low, Pair and 60 seconds binary options and includes several tools and features designed for trade management. These functions allow to open new positions and manage the options that are still active. It also has other basic trading functions such as updated prices of the underlying assets offered by MFXOptions, simple price charts and more.
The trading platform of MFXOptions has the following tools designed to increase the chances of success of the traders in their operations:
-Roll Over: It is function that allows the trader to extend the maturity of an option, which is quite useful in those trades where the market has moved against the prediction made by the trader, so the option for the moment is Out of Money. In these cases, if the trader believes that the market will reverse its direction and move in the direction predicted at the beginning, this tool will extend the expiration period with a single click which at the same time automatically increase the investment by 30% of the initial investment (the potential yield of the option now is 30% higher). In summary, it provides a second opportunity for an option to expire In The Money. This feature is available up to 10 minutes before maturity.
-Double Up: If an option which at the moment is “In The Money” is near maturity and the trader believes the market will continue in the same direction, this tool allows to increase (double) the size of the position with a single click . Thus, the trader can create a new operation under the same conditions as the original, but for the current price of the underlying asset. With this, the trader can benefit from a strong position in a market that is moving in their favor as it allows to increase the investment and potentially get a double profit if the trade finish in their favor.
-Mobile platforms: MFXOptions offers various mobile platform through which the clients can access their accounts and trade with binary options from different mobile devices like smartphones (Android&iOS) and tablets. These applications include updated market quotes, price charts, market news and more.
For the moment, this broker does not offer a demo account, but the real trading accounts can be opened free of charge.
The client of MFXOptions has the following options to deposit and withdrawl funds: Bank Wire Transfer, Credit Card (the most important like Mastercard and VISA), Neteller, WebMoney, OKPay, Egopay and Perfect Money.
The deposits can be made in Euros, U.S. Dollars and sterlings.
Main Advantages of MFXOptions
- MFXOptions provides consistently bonuses for new and regular customers who deposit funds in their trading accounts. In most cases these promotions consist en cash bonuses deposited into the account of the client that can be withdrawn if certain conditions are met.
- It has a good customer service, which has several means of contact for both regular customers and potential customers.
- The broker does not charge any hidden fee to its customers for their transactions.
- MFXOptions offers daily and weekly market analysis through its website.
- Through its website, the broker provides basic education about binary options.
- This broker has updated service market news.
- It provides a platform for web-based trading, which is characterized by its friendly user interface.
- An interesting feature of this broker allows to check the general trend of traders with positions opened in MFXBroker with respect to a specific underlying asset at a specific time (market sentiment). Through this function, the customer can see what percentage of the options based on different instruments such as currency pairs or stocks for example, are call or put options, which can give a rough idea of market behavior.
- MFXBroker offers the possibility to make money by promoting their services through an affiliate program.
Main Broker Offers
MFXOptions offers regular promotions and bonuses for new clients. The current promotion of this broker is:
- A welcome bonus from 25% to 100% for traders that open an account and deposit funds.
|Company||MFXOptions is propperty of International Brokerage Company Master Services Inc.|
|Minimum account size||The minimum deposit to start trading with this broker is $200.|
|Minimum transaction size||5 US dollars/euros/pounds.|
|Maximum transaction size||1000 US dollars/euros/pounds.|
|Link to the website|
|Open an account|