According to our team’s research, Oboxee does NOT provide demo accounts. We also found out that they do not rate highly in Google Trends and there is no significant data about them. As an alternative we selected the top brokers that provide a Demo account for free.
Top10BinaryDemo cannot confirm that Oboxee can offer you a demo account. In order to avoid risking real money you can Proceed to an Approved Broker with Demo Account OR choose from the Top Demo Brokers:
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Oboxee Broker Review – Does It Work?
Oboxee broker platform is quite new to the binary options online market. It is owned by a company called Yellow Door Markets Limited. In the review that is about to follow we are going to share with traders all the facts that we managed to discover and that are important about this brokerage. It seems like a good and solid trading opportunity, but is it? Read the whole article to find out. We made sure to write down the whole substantial and relevant information we were able to gather in order to give you a full idea of this broker and the services it offers.
Oboxee – Overview
The first important thing we have to say about the online trading broker is that it relies on a O-SYSTEMS trading platform. As you may think, it is not as popular and reputable as SpotOption.
This gives us a reason to believe that Oboxee may be some kind of new-school broker, that actually possesses interesting visual identity that stands out from the crowd. In addition, a more interesting thing is the way they choose to do business. The platform provides traders with the options ti start with a really low trading account, requiring just $50. Still, such major differences from every other binary brokers make us wonder if this platform really operates the way it claims. However, as for now, we are not able neither to confirm nor to deny that.
Is Oboxee a Scam?
Due to the fact this brokerage is still really new on the market it’s too soon for a scam/legit verdict. What we know so far is they are not regulated and that there aren’t any users’ testimonials to show whether the product works properly or not. However, the lack of regulation doesn’t necessarily mean they are a scam.
Still, there is no educational section on their website and this is something crucial and very important, because every good broker tries to educate their customers in the rules of dealing with binary options online trading. As a result, we are not going to recommend this broker to traders, as it may turn out to be a scam. So, people should avoid it at least for now, until we gather more relevant information.
There are 6 account types traders can choose from when registering with the broker. This is quite enough choice for them, as the different account tiers include different features and additional services. Basically they are as follows:
Easy – the initial deposit amount required for this account type is $50. In addition, traders receive basic assistance level and 100% welcome bonus.
Classic – the needed investment amount here is $250. The assistance level is again basic and the bonus is 100%.
Advanced – traders must invest at least $500 in order to get access to this account type. The other features remain the same.
Gold – initial deposit amount – $1000. High assistance level and 120% bonus.
Expert – $2500 is the required investment. The bonus here is 130%.
Master – the most proficient account type with $5000 deposit amount. Intensive assistance and 130% bonus.
As usual the expected period for completing each withdrawal request is between 3 and 5 days. In addition, it is explained that the needed time for the profits to reach traders is all up to their bank or credit card company. However, as we didn’t find any feedback, we are not able to confirm that the withdrawal process actually happens as described.
Binary Options Trading Possibilities
The assets trading list, provided by Oboxee looks quite impressive on paper. The broker platform offers trading with:
- 24 currency pairs
- 47 worldwide stocks
- 12 commodities
- 13 indices
However, at the moment it is not clear how many of them are available to trade with the lowest account type. In addition, users can also choose between a wide range of expiration period starting from 30 seconds to 1 year.
Oboxee Broker – Bonuses
The bonuses that Oboxee offers to its members start from 100% for the lowest account type and it reaches 130% for the highest accounts. The disturbing thing here is that we were not able to find information on the terms and conditions these bonuses are given at. So, there is a chance that traders can’t actually take advantage of them.
After our research we concluded that Oboxee does not provide a demo account.
The lack of practice account and risk free trading makes this broker unsuitable for traders who want to learn how to trade without losing their investment.
I am David Raines, a Binary Options trader with years of experience in online trading. I write reviews of Binary Options Brokers, Auto Trading Software and Signals Providers.