SpotFN Binary Broker Review
SpotFN options broker provides a state of the art trading platform with unique educational materials for both amateurs and professionals.
When it comes to binary options trading, SpotFN has built a reputation that cannot be ignored. Known for its versatility, this broker provides a wide array of trading tools that help the traders to make the most out of their investment. This broker is a good choice for both rookies and veterans because of its world class educational materials that have been radically simplified. Looking at the downsides, the broker does not provide a demo account where new-to-trading traders can practice.
The SpotFN Trades provide a wide range of educational materials that cover every aspect of binary trading. Put down in very simple words, the educational materials with this broker are just sufficient for anyone who knows nothing about trading to quickly learn binary options trading. The broker does provide live market analysis, news feeds etc. that actually work as money management tools for the traders. Spot FN is one of those few brokers in the world who provide mobile and tablet trading support for both iOS and Android. As a result of this, people can trade from anywhere they want any time they want. All they need is an Android or iOS based smartphone or a tablet with internet connectivity.
User-friendly & easy-to-use interface
Rate of return
Up to 85%
Minimum: $/€ 200
Maximum: $5k for credit card, $10k for Western Union and unlimited for Wire Transfer
Minimum: $5 for 60 Seconds and $25 for normal binary options
Maximum: $/€ 1500
Deposit allowed in currencies
Types of trading instruments
Target Options, 60 Seconds, Build an Option
Maximum 10% on losing trades
Assets allowed to trade in
Stocks, Indices, FOREX, Commodities
Bonds made available
Number of FOREX pairs allowed
Number of Indices allowed
Number of Stocks allowed
Number of Commodities allowed
Money transfer options
AMEX, Visa, Diners, MasterCard, Visa Electron, Delta, Maestro, Switch, Solo, CashU, Wire Transfer
NO. Completely web-based. Powered by SpotOption
Live Chat, Phone support, email
Charges and costs
Nothing charged for trading but withdrawal charges apply
Accepts US traders
Tablet and Mobile (iPhone/Android )
$50 minimum and $125 maximum
Trading and Payout:
Looking at the trading instruments offered by SpotFN trades, users can select from Build an Option, 60 Seconds or Target Options. The broker is known for providing high returns up to 85% for in-the-money trades. For out-of-the-money trades, i.e. for losing trades, the broker offers a refund of 10%.
SpotFN broker never allows trading in bonds. However, the broker offers trading in indices, currency pairs, stocks and commodities. The broker allows trading in 54 stocks, 28 indices, 13 currency pairs and 9 commodities.
Deposits and Withdrawal:
The broker allows the traders to make deposit in only two currencies – Euro and USD. The minimum amount to be deposited is either 200 Euros or 200 USD and the maximum amount of deposit allowed is $5,000 for credit cards, $10,000 for Western Union and unlimited for Wire Transfer. There are several deposit methods available that include Delta, Maestro, Switch, Solo, CashU, Wire Transfer, AMEX, Visa, Diners, MasterCard and Visa Electron. SpotFN Trades charges $25 for wire transfers but credit card withdrawals are free. There is a minimum amount set for withdrawal and that is 100 Euros or 100 USD.
Just like any other broker in the market, Spot FN also comes with trading limits. The minimum allowed for all trades is $25 except for 60 Seconds. For 60 Seconds, the minimum trade is $5. The maximum amount that is allowed for a single trade is $1,500.
SpotFN Platform and Support:
SpotFN is based on the SpotOption platform. The website of the broker is everything. Traders are not required to download any software. They can trade directly from the web-platform by logging into their account. The web interface is very simple and highly effective because of an intuitive design. The broker offers email, live chat and phone support to its registered traders.