Bloombex Options Review

On Nov 12, 2015

Bloombex Options is an online brokerage started in 2010. It has offices in several countries, but the headquarters is in England.
Bloombex Options review
  • Editor Rating

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  • 4/5 - Very Good
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  • Easy to Use
     
  • Price
     
  • Reliability
     
  • Customer Service
     
 

  • Review Summary:

  • Bloombex Options is an online brokerage started in 2010. It has offices in several countries, but the headquarters is in England.

     

 

I started trading online about three years ago. It took me a while before I got good enough to really understand what I was doing. Until that time, I also had a hard time telling which online brokers were there to serve their traders and which were just there to take their money.

Bloombex Options was one of the first companies that impressed me with its professionalism. I don't always use Bloombex Options when I'm trading, but it has become one of my regular platforms.

Top Features of Bloombex Options

There are a lot of features that I like about Bloombex Options. I'll separate them into different sections here to make my review as easy to read as possible.

Education Center

I think education is the key to any good binary trader. I've seen a lot of trading companies that don't seem very interested in educating their clients. That's a real disservice to people who trustingly fund their accounts with their hard-earned money.

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Now that I have had some experience, I wouldn't even consider using a trader that doesn't provide extensive educational materials.

Luckily, Bloombex Options has some pretty good resources that I think will meet most people's needs. I've been doing this for a while, and even I learned a few things. 

At the same time, there are plenty of articles and tutorials for beginners that I think anyone could benefit. If you are brand new to binary trading, I would suggest starting here. There is a lot to learn. Bloombex makes it as easy as possible.

Bloombex Options - Online Binary options trading platform

The Education Center actually includes several options for you to use, including videos, platform tutorials, and in-depth courses. There's even an eBook that will help you get started in binary trading. Once you have gone through the basic materials, you can read the Advanced Binary Book and take some of the Advanced In-Depth courses. 

Don't be too intimidated by all of these materials. Just take your time and go through them at a pace that feels comfortable to you. You'll pick up the important parts much more easily than you expect. It definitely takes time to become a pro, but you can learn the most important aspects of binary trading in a couple days.

Trading Options

I'm one of those people who gets bored easily. That means that I like to use online brokers that offer a lot of trading options. Once I get really good at one option, I like to start learning about another one. I obviously keep using the one that I've gotten good at... that's how you make money in this game. But it's also a smart idea to branch out and discover new things. You never know how interesting the next thing is going to be.

Bloombex Options - Online Binary options trading platform

With Bloombex Options, you have a huge range of trade options, including:

  • Short-term trades
  • Long-term trades
  • Pairs
  • One touch
  • Ladder
  • Follow



I also like that the broker includes Forex. Forex has always been something that interests me. It's fun to look at the rates for various currencies from around the world. I'm by no means great at predicting where currencies are going. But I'm getting better. For me, that's half the fun.

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Security

Bloombex Options - Online Binary options trading platform

Security is a huge concern for people who use online traders. I don't want to scare people away from good opportunities to make money, but the truth is that there are a few brokers out there that don't treat their traders very well. 

Over the years, I've discovered that the brokers who offer strong security features also tend to be the ones who treat their clients well.

When you sign up for Bloombex Options, you don't need to worry about your security. The company takes several precautions to make sure you are protected. There are occasions when you might find these security features slightly inconvenient. For instance, you can only deposit and withdraw certain amounts of money at a time. I don't think of these as inconveniences anymore. These are the kinds of things that I look for when trying to differentiate between great traders and untrustworthy ones.  

Bloombex Options Prices

Like most online traders, you don't have to pay Bloombex Options for their services. Instead, the company makes money by keeping unsuccessful bets. That means it's really cheap for people who are good at online trading. If you aren't very experienced, then you will probably end up spending more. Eventually, you learn how to trade successfully and it all starts to even out. I'm at a point now where I regularly make money. 

Bloombex Options - Online Binary options trading platform

Criticism of Bloombex Options

Personally, I've never had any problems with Bloombex Options. As far as I can tell, the broker does exactly what it says it will do. 

Bloombex Options - Online Binary options trading platform

Before I signed up with Bloombex Options, I did some research to see what other people have said about the company. Most of the things I saw were positive. There were also a few negative reviews that were obviously written by people who had lost money because they didn't know what they were doing. I guess they got mad and decided they were going to slam the company.

There is only one criticism that I think is really relevant, and it's something that gets mentioned a couple times in this review. It's somewhat problematic that you can't withdraw all of your funds at once. I understand why Bloombex Options doesn't allow that. Most of the traders I have worked with have similar policies. But it is kind of annoying. 

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Bloombex Options Customer Support

Bloombex Options gives you several ways to contact customer support. I prefer sending emails because I'm not fond of making phone calls, especially when you know that you'll have to sit on hold for a while.

If you would rather talk to someone, then you can use any of the company's nine phone numbers. The good thing about having so many numbers is that you can choose the right one for your region. Bloombex Options has toll free numbers for:

  • USA
  • Australia
  • Russia
  • Netherlands
  • Canada
  • Turkey
  • Germany
  • France
  • England

 

Bloombex Options - Online Binary options trading platform

That doesn't leave many options for people living in Africa, South America, or Asia. Still, you can always send an email if you live in one of those places. There's no need to spend money making a long distance call when email is free. 

FAQ About Bloombex Options

Q: Is there a minimum deposit required for starting a Bloombex Options account?
A:  Yes, you will need to deposit at least $300 to get started.

Bloombex Options - Online Binary options trading platform

Q: Is there a maximum deposit?
A: That depends on what funding option you choose. There isn't a maximum deposit for members who use wire transfers. If you use a wire transfer, you can deposit as much money as you want.

There are limitations with other funding options, though. You can deposit up to $20,000 with a credit card, PayPal, or Moneybrooker. 

If you plan to use CashU, know that you can only deposit $1,000 per transaction.

These maximums help protect people from fraud. If someone were to steal your credit card, for instance, Bloombex Option doesn't want them depositing hundreds of thousands of dollars in a fraudulent account.

Q: Does Bloombex Options have maximum withdrawals?
A: Yes, it does. Again, this is protect you. While it's unlikely that someone will ever hack into your account, there are some very sneaky hackers who may eventually find a way in. Because there is always some risk, Bloombex Options limits the amount that you can withdraw at a time. 

The withdrawal amounts vary depending on how you choose to take the money out.

If you want to withdraw money to a credit card, PayPal, Moneybookers, or CashU account, then you can take out $100 at a time. If you want to wire the money directly to your bank account, you can withdraw up to $250 without any difficulties.

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Pros of Using Bloombex Options

Cons of Using Bloombex Options

  • Low minimum deposit (just $300)
     
  • Mobile apps available
     
  • Islamic account available
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  • Variety of trading options
  • Maximum withdrawals aren't very high
     

Conclusion

There are hundreds of online traders that claim to offer similar services as Bloombex Options. Some of those companies are really good at what they do. Others are pretty much scams that just want to take advantage of inexperienced people. Whether you are a beginner or you have been trading binary options for years, Bloombex is a useful website. It's an especially good option for people who prefer Web-based trading platforms instead of downloading software. If you are looking for a reliable, honest company that will help you improve your online trading skills, I would recommend Bloombex Options. It has diverse options and a strong trading platform that has worked well for me.

 
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