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Boss Capital Review : Company Overview
Boss Capital provides an online trading platform for both new and experienced binary traders; it uses the FinancialTech platform, and it has over 150 individual stocks, commodities and currencies available for trading as binary options. Traders can invest based on whether the price of a stock, index, currency or commodity will increase or drop; whether it will reach a certain target price or whether it will remain within a pre-set boundary. Training materials and a training academy are also available for less experienced investors.
Types of Account and Opening Procedure
Users can open an account just by clicking on the "open account" link and supplying a valid phone number and email address. A letter of validation is sent to the email address, and once the account is validated and the minimum deposit has been paid, investors can begin trading. There are five account types depending on the size of deposit: mini, starter, silver, gold and platinum, with deposits ranging from $500 to $25000. Silver accounts and above give access to an account manager and senior market analysts.
Promotions and Bonuses on Sign-up
This broker offers a bonus of 10 risk-free trades on sign-up; these range from 25-100 per cent of the initial funding depending on the package selected. For gold package holders, there is one guaranteed profit trade and three for those with platinum packages.
Fees and Commission
There are no ongoing fees, but there is a charge for commission: for a successful trade, investors will receive 85 per cent of the sum invested; for an unsuccessful trade, investors will receive back 15 per cent.
Platform Review and Apps
The FinancialTech platform has been tried and tested by many similar companies, and it is simple to use with a clear layout. All the trading options are clearly shown beneath the graphs, making the platform user-friendly. For those wishing to trade around the clock, there is a free Android app, with an upcoming app for iPhone to be available in the future.
Ease of Deposit and Withdrawal
An initial minimum amount of $200 is required to begin trading; this can be made by debit or credit card and by wire transfer. However, wire transfer requires an initial minimum funding of $500.
Withdrawals can be completed on request following validation of identity and bank account details, and the amount will be returned to the same card or account. Wire transfers will attract a charge of $30. It is important to note that there are specific rules on the withdrawal of the balance promotional offers: account managers will discuss this on a case-by-case basis with account holders.
Safety and Regulation
Boss Capital are not licensed by CySEC, and they are therefore not regulated. While there is nothing to suggest that they are a scam, investors should exercise caution; binary trading is high-risk, and the potential to lose capital is high. The broker is PCI compliant, so credit card and other financial information should be safe.