Based in Cyprus, EZTrader is a binary options trading broker operated by Win Gaming Media Inc. (WGM). The company first joined the binary trading industry way back in 2008 when the industry was in its initial days, this is why it is regarded as one of the most experienced and reliable brokers currently active in the market. The unique aspect about EZTrader’s trading platform is the fact that the broker takes a different approach towards trading operations. They go by their very own platform for proprietary trading which has been widely praised for its simplicity and convenience. The popularity of their platform goes as far as several trading brokers actually trying to emulate the same approach.
How Is the Trading Platform?
In recent times, EZTrader’s trading platform went through several positive amendments. The company was taken over by WGM in early 2011 and from then on, the new owners have gone to great lengths in order to add a whole new life to the trading platform. This included enhanced overall site experience, more refined services, and the introduction of advanced features for trading.
Step-By-Step Guide to Trading at EZTrader
The following is a simple step by step guide which will educate novice traders on how they can start trading at EZTrader:
- Signup for an account and fill in all the required.
- Choose the financial instrument (option) which you would like to trade from the list which provides all the available options.
- Choose which type of trade you’d like to make: “Put” or “Call”.
Put signifies that you’re predicting the current price will go lower by the date of expiration.
Call signifies that you’re predicting the current price will go higher by the date of expiration.
- Add in the amount (in $) that you’re willing to invest (trade). At this point, you are still allowed to switch the type of your trade from Put to Call or vice versa.
- All done? Go to “Execute” and initiate your trade.
What Are the Changes Implemented by the New Owners?
As stated earlier, there were a wide range of positive amendments implemented to the EZTrader’s trading platform ever since WGM acquired the company. Some of the most notable changes brought about by the new management are described below:
The lock-out period originally included in EZTrader’s trading platform was 15 minutes long which sparked all sorts of complaints from the users. Ever since the new management took over, this time period was shortened to 5 minutes. This was the same as other major platforms across the industry and well received by the traders.
Spreads were also removed. This meant that traders were enabled to earn an increased amount of profits from the trading platform because they were provided the same price for purchasing their put or call options as the execution price.
The Sell option enabled traders to lock their profits by liquidating the trades they’ll win before the time of expiry. This change was introduced in order to ensure that users’ profits were prevented from being wiped completely due to any trend reversals.
EZTrader, under previous ownership, was not quite popular among the masses and always receiving negative feedback due to having poor payout ratios. The main issue for the traders was that they were never offered anything above 65% in returns, and the average returns were also less than 50%, which was significantly lower as compared to several other brokers in the market. Ever since WGM took over proceedings, the payout ratios were tweaked. As of now, the average payout offered by the broker is around 80% which is yet another positive change.
EZTrader has a comparatively shorter asset list, dealing with a total number of 48 assets which range from stocks, indices, commodities, and forex.
When it comes to customer support, it is a well known fact that EZTrader provides some of the most impressive services. Clients are provided several channels through which they can contact the company. These channels include email, online chat, as well as telephone.
Apart from these fantastic services, EZTrader also offers a straight forward, detailed, and comprehensive FAQ section which answers all the questions for both seasoned, and especially novice traders. Moreover, clients are also facilitated with a step by step guide available in the Support section that takes them through all the ins and outs of the trading platform to make sure they don’t have any trouble in adjusting to how things work on the platform. Live Help is also provided for users to make sure they are offered assistance at all times.