Stockpair is a fully CySEC regulated broker operated by Nextrade Worldwide Ltd. out of Cyprus. They stand out from the overcrowded binary options broker crowd with the unique and in-house custom-made platform they have created.Unlike most of the other brokers that use a generic Spotoption or other third party platform, Stockpair put in some great effort to design and develop their own platform with some unique features. The results are really impressive and even from the first look you can see the difference.
Many brokers also suffer from the disadvantage of offering a very limited selection of assets to trade with. This is another one of the areas where Stockpair shines. They have one of largest selections of assets to choose from. At the moment, we are talking about more than 118 assets.
StockPair Broker Info:
- Headquarters: Cyprus
- Minimum Deposit: $200
- Minimum Trade Amounts: $12
- Platform Provider: Proprietary (Purpose Built)
Deposits and Withdrawals
There are a large number of honest brokers out there and an even larger number of dodgy ones. We have found that one of the best ways to separate the lot is through the deposit withdrawal test. In this test, we will deposit some funds into the account and then try and withdraw them. With the dodgy brokers, you can basically forget about seeing your money again. With the not so great brokers, you may get your money back, but ironically it make take quite a bit of convincing before the broker issues the withdrawal, which some traders have claimed about Trading247.
To start, we first registered an account.
Registering an Account
Signing up is pretty easy. Just enter a few details and you are good to go.
Depositing funds is straight forward. You can either use credit card or wire, or you can opt for one of the 3 ewallets that Stockpair supports: Skrill, Giropay and Sofort. I chose the credit card option as it is the quickest and most trouble free. I do not have accounts with these ewallets, but I guess they would work just as well. A number of seconds after I deposit, I can already see the funds in the account and ready to use.
All the brokers will let you deposit funds without making too much of a fuss. Doing anything else would prevent them from operating and hurt their business. The withdrawal process is where things can get interesting. To speed things up, I always suggest sending in all the verification documents as soon as you open your account in order to speed things along when the time comes to withdraw and so that the broker doesn’t have any excuses. I always also send an email requesting confirmation that the documents have been received and are ok. That way they can’t come to you with any more document requests later. These documents can be any utility bill and driver’s license. Verification of identity is required due to anti-money laundering laws.
Now let’s see what happens when I make the withdrawal request:
Pretty soon after, I can see that my request is in pending mode. That’s fine as they need to authorize and process the withdrawal.
Logged into my account 3 hours later and what do you know, the withdrawal has been approved. 24 hours for withdrawal processing. Really nice. They state within 3-5 days but it seems they do it even quicker when possible. I might add however that it took another 3 days before I saw the money back on my online credit card statement, but that may be due to bank and credit card processing time.
We’ve gone over depositing of funds and mentioned that the minimum deposit is $200. With that said, $200 is not the amount you necessarily want to deposit. There are many benefits for depositing higher sums as they give you access to more premium account types with some nifty features attached.
Now for the interesting stuff
So I mentioned before that Stockpair is a bit unique with their platform. Other than the 118 assets (and growing), they also have pairs trading (hence their name). But before I get there, let’s cover the regular binary options trading.
Trading a normal asset is really easy with Binary Today 5, #1 Binary Options 5 Minute Strategy. Select whether you want a Forex pair or a normal stock from one of the open stock exchanges, select position, expiry and amount, see your return and click Buy. The whole interface is really easy on the eyes and is very responsive. Everything just works which is something that I’ve learned not to take for granted. All of the assets are also graphically depicted, making it nice and easy to located something that you want to trade.
In this case, we picked HSBC and Barclays. The next step is which stock, over the two, will fair better by expiry. You pick the one you want, notice the payout, place the amount and buy.
Stockpair actually have two different types of pairs trading tools, fixed and floating. With fixed trading, you take the pair and, much like regular binaries, predict which of the two assets will rise relative to the other, from the moment you enter the trade. The “strike price” per say, is the price at the time you enter the trade.
With the floating option on the other hand, the strike price is the beginning of the trading day, week or month. You enter the trade while there is already a gap in the favor of one of the assets. This means that you can enter a trade where one of the assets already has a large gap from the other asset. However, the payouts will of course also always change according to which asset is “winning” and which is “losing” and by what margin. If the gap is too large, Stockpair simply won’t allow you to enter the trade.
Stockpair have proven themselves time and time again as a reputable broker and not only through their dedication to getting and keeping their regulation. A broker that goes out and develops their own system instead of using one “off-the-shelf” intends to stick around for the long term and will not risk their investment with dodgy activities.
I have done quite a bit of searching on the net regarding Stockpair and have found nothing but praise for them and their activities.
- Honest trader. Zero price manipulation
- Super fast and hassle free withdrawals
- Unique, very user-friendly interface
- Very large variety of assets to trade and growing
- Extremely good support team
Stockpair is a great legitimate binary options broker and can definitely be trusted and recommended.