EZTrader is a binary trading platform. Binary options allow you to invest in the movement of a stock without having to deal with the purchase of that stock. As a trader, you will either lose your entire investment, or will make a percentage of profit, which is predetermined. EZTrader created its own platform in 2008 and makes continual improvements. It has a user-friendly platform that makes it easy to perform binary option trades.
EZTrader does not require your social security number to sign up for an account. Most trading platforms have no choice but to require social security numbers because they are registered in the United States. EZTrader is registered offshore, thus they can verify identity by using credit cards and identification, rather than social security number. Another safety precaution they use is not storing your credit card information in their database. This means you do have to re-enter your credit card number every time you deposit money in your account.
Making your first trade with EZTrader is a simple process. After choosing an option to trade, you determine whether you want a put or call trade. Then enter the amount to trade – the system allows you to change your trade type even after setting the amount. For example, you can change from a call trade to a put trade after entering the amount. Finalize the trade with the click of a button. Some options have the SELLOPTION feature, meaning that you can sell them back to EZTrader at a price they are willing to purchase at the time.
The account screen is very user-friendly on EZTrader. It displays the type of trade you have selected prominently on the screen right above the place where you enter the amount of money you are trading. It clearly states how much payout you will receive depending on the outcome of the trade.
Each trade must be a minimum of $25. The most allowed in each trade is $3,000, but you are allowed to double this amount on a single option by making two distinct trades. Therefore, the total amount you can trade for each option during one expiration period is $6,000. This total can be spread out over a maximum of five trades during the period.
New users can register an account for free and can deposit money whenever they are ready to begin trading. The first deposit must be at least $200 and all subsequent deposits must be $100 or more. The company incentivizes you to start with $1,250 by offering a bonus 650 points for your account. There are no fees for withdrawals to your credit card or debit card, but there are special terms associated with drawing out bonus points, as would be expected. Choose between USD, EUR and GBP during account registration; currency cannot be changed after account set-up. Accounts can be funded by credit card or various e-wallets. EZTrader does not have a minimum required trading time for the points in your account.
Customer service is available 24 hours per day during the business week to help solve any issues with the platform. They have a phone number and online chat available. The account is easy to set up and you can start making trades right away.