NEW Binary Options Broker Review. Are These Guys Good?

All right, guys. In this video, we’re going to review a new binary options broker in the market. People have been messaging me, asking if I’ve been utilizing this broker yet, and I’ve just begun to use them and test out their platform. I want to give you my initial thoughts. My name is David with Binary Masterclass, and welcome back to the channel.

All right, guys, today we are here reviewing a new binary options broker called Pipsix. I’ve received a number of messages from people asking if I have utilized their platform yet and what I think about it. They want to know if I trust them as a broker. There aren’t many good binary options broker choices, as you know, for several reasons. There are only a few available, with Pocket Option being the primary one we utilize in the US. There are a couple of others I’m exploring, but I don’t want to mention them until I successfully review them. This is a newer broker option, and, guys, I opened a demo account with them. You can get a free demo account with them; they’re called Pipsix.com. I do have a demo account open, and I’ve been playing around with the platform. I’m actually getting ready to deposit some live money because I’ve only been trading on demo, and I quite like their platform, guys.

The ultimate proof with any broker is in the withdrawals, so we’ll be doing a withdrawal video on them shortly to let you know for sure if they can be trusted and if they issue withdrawals. But for today, we’ll be going through the platform, talking about some features, discussing what I think about them and the ones I would utilize. Then, we’ll get into deposits, live trading, and, of course, the big question: Can you get your money out? If you log on to Pipsix.com, you can open up a free demo account. We’ll put a link in the description below because if we end up utilizing these guys, we might provide an incentive for an affiliate account for our members.

So, I do have a demo account, and initially, right now, we’re later in the afternoon, so all we have available in terms of Forex currency are regular currencies. Let’s organize these by payout percentage. The highest paying ones, of course, are the OTC currencies. For example, AUD-CAD is paying out 75%, which is pretty good for this time in the afternoon. Payouts are another big thing; some of the other brokers available just don’t have great payouts. Quotex has the second-best payouts after Pocket Option. In fact, Quotex payouts are a bit more stable than Pocket Option. But to have a few currency pairs at 75%, and for me, in the middle of the afternoon on the West Coast, to have most main currency pairs at 75%, is really good. EUR-USD is only at 66% right now. You have the ability to scroll in and out very nicely, zooming in and out on the pairs, which I like.

A couple of their trading features I visually like. The layout is decent. One interesting thing is that they allow you to trade very large amounts on demo. Typically, Pocket Option will only let you trade up to $1,000 on the demo account per trade, and you can go higher than that on live trading, depending on how much money is in your account. But here, you can do a $155,000 demo trade. I’m not sure how much they will let you trade in a live account, but that’s a pretty significant amount to trade with on a demo account per trade, one of the nice things is that now you can go down to a one-minute trade time when you’re trading regular currencies. However, if you do trade OTC (we don’t, but if you do), you can go down to 5 seconds, 15, and 30-second trade times. We only recommend trading the primary currencies, and for those, you’re limited to a one-minute minimum trade time. You can either choose a fixed time frame of a minute, or you can choose the other option, which we always do – the fixed time frame. That’s how we recommend.

The up and down trade options are pretty self-explanatory. Let me demonstrate with a sample trade right here. I just placed an up trade. Whoops, that may not work. Let me try a couple more here on Euro or AUD-USD. Guys, I’m not putting much thought into these; I’m just kind of here. If you click on my trades now, it’s going to open up a trade panel on the left-hand side. It will show you our open trades. We have three $500 open trades. It shows you the time frame left on them, and you can click on the trade. It’ll give you your open price and let you know if you’re in the money or not. At the moment, we’re in the money on two of these three positions. I don’t like that it takes away from your visible area as much as it does, and you can’t really shrink it down. But let’s see if we’re going to win or lose. We’re going to lose our first trade. No, we just won all three trades. Okay, there we go, guys. So, we just won two out of the three. We did not win the first one. Okay, so we won two out of those three entries.

You have your ‘My Trade’ tab over here. You do have features that I don’t always use a lot. You can toggle between the tick chart (which we prefer) or you can use the Candlestick chart. It’s taking a minute to load up the Candlestick chart. I prefer the stick chart because we use the Candlestick chart on our own MT4 software with our own indicators loaded up. You can utilize different indicators – there are fibs, you can draw lines, and you can use different patterns. Different trading indicators can be utilized through Pipsix. They do have a few other features that some people like. I don’t really use them. I don’t really chart here; we typically chart on our MT4. So, those features are available here; it’s just that we don’t typically utilize them because, again, we use standalone MT4 software for that.

They do have a copy trading feature, which some people like. You have to switch over to a real account for this function, but you can follow different copy traders if you’re into that, guys. I don’t recommend using the in-house indicators or their copy traders. They’re here to make money, and those features, I don’t feel, are designed for your best interest. I think you have to believe that all the features designed within these brokers are designed for them to make money. If you’re making money, they’re not making money. So, that’s why we use standalone MP4 indicators that are independent of the broker’s indicators.

Now, I’m not saying specifically that I know that they’re doing anything funny with their indicators, but it’s just common sense. Why would you use the indicators on a platform that loses money if you win a trade? It just doesn’t make a lot of sense. There’s some market analysis; they do have trading contests if you like. They have a live chat function where you can open up a private chat with an agent if you want, which is a nice feature. Not all brokers have that feature.

Then they do allow, as far as adding funds – which is another big deciding factor in a broker – they have different levels that they offer for your minimum deposit to get you to the different tier sizes and different payout benefits. If you deposit $50,000, you get a plus three payout on your currencies. I would probably start by just depositing $50 or $100 and then trading my account up. You do get quicker withdrawal time frames: 8 hours withdrawal time frame, which is not bad. Actually, if you deposit $50, 4 hours; if you deposit $1,000, instant; if you deposit $50,000, instant. So, if you’re a big roller and you want to put a large amount of money in, they claim that you get instant withdrawals with those size deposits. Now, we’re going to test, of course, those withdrawals. We’ll let you know how fast they are; I will give you the exact timing of the withdrawals.

Now, you do apparently get more priority in your customer service customer support with your larger withdrawals. For $1,000 or more, you get priority support as opposed to standard support with a smaller deposit. Again, I’m not going to pay for the extra benefits of getting those items; I’ll just utilize whatever time frame they give me. This does give you the maximum trade size per deposit. If you deposit $50, you’re going to get a $250 Max trade size. If you deposit $1,000, they’ll give you a $1,000 trade size. If you deposit $50,000, they’re going to give you a $50,000 maximum trade size. I don’t know, guys; even if this broker pays me out whatever amounts I’m winning or earning, I don’t think I would trust them if I deposited $50,000 and won a $50,000 OTC trade in 5 seconds and tried to withdraw all that money. I’m suspecting that there may be some feedback on there.

But you can pay via Vcoin, which is our preferred method of payment. You can also pay via Visa or Mastercard and PayPal. PayPal is a nice feature, actually; a lot of people do like PayPal. I actually prefer Bitcoin. They do have other crypto options that you can utilize for payment. They do have account bonus options as well, guys. We never recommend the bonuses; bonuses encourage you to trade for longer time frames without taking a withdrawal, which actually sets you up to have a higher likelihood of blowing your account. So, we typically recommend our clients not take bonuses.

But you can pay via crypto, Visa, Mastercard, or PayPal, which is really nice. So, you need to choose which way you’re going to deposit, and then you copy your Bitcoin code, your QR code, over to your crypto account. So, a very nice feature there. All right, guys, so the next step for me would be to deposit some live money, which I’m getting ready to do. I’m going to take some live trades, which I will record for you, and then I will record the withdrawal process as well and document it all and show you exactly how this broker pays out and how the live trading process goes. But for now, I’m liking what I’m seeing, but the jury is still out until we make our deposit. Thanks for watching, and if you want to join us live in our own trading room, click the link in the description below. it’ll take you through our current offers and we will see you in the trading room.