StockPair made waves in the binary option industry by demonstrating that not all options are created equal and that thinking out of the box is still possible in an industry where everything is starting to look the same. The innovation that StockPair brought to the binary options scene is called a pair option, whereby just as in the case of currency pairs, the relative strength of two stocks can be traded on. This warrants an honourable mention but how does the company fair all round when its offerings are put under our reviewers’ scrutiny? Well read on to find out. So without further ado, here is our broker review of StockPair, see how this young upstart with big ideas compares to the binary big boys.
- Minimum deposit – $200
- Minimum withdrawal – $20
- Bonus – 40% match on your first deposit
- Accepts U.S Traders
One of the things that recommends this broker, especially in an industry fast becoming saturated with white label trading platforms, is that StockPair has developed its own proprietary platform. This has given it the freedom to offer a unique set of trade parameters that it feels are most useful to its traders.
Everything is easy to use, whether it be regular binary assets or stock pairs, the complete asset list is available with a single click and from there you can select the underlying asset of your choice to trade on.
Clicking on any of them reveals the expiration day and time for the specific trade being offered on it, as well as the live price of the asset and what a trader stands to make by locking-in a trade. Another useful feature is what StockPair are calling a sentiment gauge; this gives you an insight into what positions other traders are taking. The preset expiration can also be changed by another drop box with expirations between 5 minutes and 5 months being available. Of course the trade parameters are subject to change is you alter the expiration
We instantly took to StockPair’s platform. We like the intuitive layout and how easy it is to get to grips with. You have everything you need at your fingertips and all superfluous detail has been removed. Clearly the company has done its homework.
One of the drawbacks of StockPair’s offerings is that currently the company only offers standard call/put binary options. In other words absent are the One Touch, Boundary and 60 Second trades offered by many other brokers.
While this may be a drawback for some and it is certainly our duty to relate this information in our broker review, it really won’t be much of a problem to most traders. In the informal surveys of our site’s visitors that we have conducted here, the overwhelming number of binary traders rarely stray very far from the standard call/put format. These, after all are binary options. And while 60 seconds is definitely fun to dabble in from time to time, it really isn’t the most profitable part of a binary traders trading day. There are some rumours floating around that we may even see an end to these 60 second trades once the industry becomes fully regulated as so many regulators seem to feel that the shorter the trade duration the closer to gambling the product is.
Again the tradable assets available on StockPair’s trading platform may seem a bit thin to some traders. You have choices across all four asset classes, including currencies, commodities, stocks and indices, but not as many as you might get from some of the other brokerages out there. So for instance, you can choose from nine currency pairs, four commodities, and eight indices. Where StockPair really shines however is the list of stocks that traders have at their disposal. StockPair offers in excess of 90 stocks to choose from, more than most brokers offer across all four asset classes! Well, the company is named StockPair after all, aren’t they? And they certainly seem to specialise in stocks with such a vast number to select from and pair together as mentioned above.
Payouts are competitive with most of the bigger brokers out there. The company offers its traders a payout range of between 75% and 85%, which is higher on the lower end and lower on the higher end (but since most brokers don’t offer anywhere near the higher end that they advertise this is very good for StockPair). In addition to this, with the longer expirations regularly offered on the company’s platform (many brokers advertise longer term expirations but rarely offer them) the payouts tend to be in the higher bracket due to the greater degree of uncertainty.
Deposits and withdrawals with StockPair can be made with Visa, Mastercard and bank wire. The minimum deposit is very competitive at $200 and for your first few transactions there is a maximum deposit of $2000. The minimum withdrawal you are allowed to make is for $20 and most transactions take no more than two working days.
Binary options traders who register and fund new accounts can receive up to a 40% match on their first deposits. There are conditions that apply to withdrawing the bonus amount, so make sure that you read the terms carefully on StockPair.com.
Another bonus offered by the company for certain types of accounts (see Premium Accounts below) is a cash back allowance. You’ll receive up to 3% of your monthly trading volume back if your account meets certain parameters.
StockPair, like many binary brokers out there today, offer a tiered account structure that confers added benefits to bigger investors. The accounts offered by the company, over and above the standard accounts are: Silver, Gold, Platinum and VIP. For added levels of investment (i.e $1000 for Silver, $50,000 for VIP), larger investors can take advantage of the company’s team of analysts, as well as have access to trading signals not available to all investors.
It can be quite difficult to get an accurate reading of a company’s customer support services when conducting a review due to the fact that you can’t easily manufacture the kind of tricky situations that clients bring to customer service teams when something goes wrong and needs to be resolved. Nevertheless in our tests we found the customer care team offered by StockPair to be reasonably well-staffed and well-versed in the binary options field. They were friendly and prompt to respond to all of our queries.
We think that StockPair has a lot going for it as a company. They have invested in their own platform, which we always give a big thumbs up as it shows that the company is intent on building itself up and is in it for the long haul, unlike many others who take advantage of white label solutions and make as much money as they can in a short space of time before disappearing. The company also has some innovative ideas, having chosen to specialise in stocks and offer its traders stock pairs which could prove to be much more than a binary options novelty. We like the platform, we dig the service, there are a few loose ends that could be tied but for a relatively new company StockPair is going the right way about its business. Try them out for yourselves, especially if you’re a stock junkie.
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.