Boss Capital is a UK based binary options broker. They have a large clientele, and they have quickly emerged as one of the leading brokers in this area of the world. But is Boss Capital right for you as a trader? To help you figure this out, we’ve put together a thorough Boss Capital review for you so that you can have all of the information needed to make an informed and educated decision. So, read on. Boss Capital has a lot to offer, and there just might be a chance that they could be exactly the broker that you are looking for.
Getting Going at Boss Capital
To use this broker, your first step is to create an account. This process is really easy, and should only take a minute of your time. You need to give your name and email address, your country of residence, and a phone number. You will also want to choose an account name and a safe password to protect your account with. The Boss Capital people will ask you to select a base currency with which to trade with. Once you choose this, you cannot change it. Your selections include the U.S. dollar, the British pound, the euro, the Canadian dollar, and the Australian dollar.
You will be asked your birthdate and then to check a box verifying that you are over the age of 18. Because Boss Capital values local laws, they need to ensure that they are not allowing people to use their site illegally.
Next, you need to put cash into your Boss Capital account. You can do this in a number of ways, including credit card and wire transfer. They accept Visa and MasterCard for credit cards. The minimum deposit amount with these is 200 USD, EUR, or GBP, 280 AUD, or 250 CAD for credit cards. If you are going to use a wire transfer, the minimum is 500 USD, or the equivalent of this in another currency. The max deposit with a credit card is $20,000. If you want to deposit more than this, you will need to use a wire transfer.
Withdrawals from Boss Capital
Before you can make a withdrawal request from Boss Capital, you will need to provide documentation establishing your identity and your place of residence. This is a standard industry practice, and if you take care of it as soon as you open up an account, then it won’t slow down the withdrawal process at all. You will need to send a scanned copy of a government issued photo ID, a copy of a utility bill that shows your home address, and if you are using a credit card, then a scanned copy of the front and back of the cars. Be sure to block out all but the last four digits of the card. Also, block out the CVV on the back. This info isn’t necessary for the broker to confirm your card and it helps add an extra level of security to your account.
If you used a credit card to fund your account, your funds will be sent back to that same credit card. Withdrawals are free when you use a credit card. If you are going to use a wire transfer, the first one each month is free. After that, they have a $30 fee attached to them.
Withdrawals can take up to four days for Boss Capital to process. After this, it could take your bank another five to seven days before they finalize the transaction on their end.
Boss Capital Customer Support
You can get in touch with their support staff by email at email@example.com. If you are located in the UK and have a more immediate question, you can contact them by phone at 44 203 519 3488. They also have a “Live Chat” feature. Just click this link that’s located near the top of their homepage.
Boss Capital Trading Platform
This Boss Capital review found that the broker uses the TechFinancials trading platform. With this, they have over 200 different assets available for you to trade. These include a wide range of stocks, indices, commodities, and currency pairs. One of the great features of TechFinancials is that they have a larger focus on commodities than most other platforms do. If this is something that you are interested in, you might find this broker to be helpful. They offer these assets in the traditional call and put option format, starting out with ultra short term trades. These include 60 second binary options, 2 minute options, and 5 minute options. They have these in addition to the normal expiries ranging from 15 minutes and upward over the course of a day. Boss Capital does not have a large focus on long term binary options, but most traders do not ever use these with regularity.
Boss Capital also allows you to trade a couple different exotic options. These include the one touch option and boundary options. With a touch option, your goal is to predict if the asset in question’s price will touch the given price at least once before expiry. With a boundary option, your goal is to predict if the asset will finish in or out of the given range at expiry. Both of these trades are considered high yield trades because they have payouts of more than 100 percent. As you probably guessed, because they have such high payouts, they are much harder to predict correctly. If you are going to trade with these, be sure that you have the proper risk management strategies in place.
In some instances, Boss Capital will allow you to end your trades early at either a partial profit or a partial loss. This is not something you will want to do often, but it does have benefits every once in a while. This is called the “Sell Your Option” feature.
As a final note on the Boss Capital trading platform, they have an app available for Android devices. If you are interested in mobile trading, this might be something worth looking into. However, mobile trading comes with its own set of complications and risk. We recommend that you be very cautious before opening up mobile trades, or have a reliable signals service in place so that you are having accurate information sent to you so that your trading decisions will be a bit more accurate in their nature.
Is Boss Capital right for you? That’s up to you to decide.
Boss Capital is not currently regulated. As such, we encourage you to be very cautious before you decide to deposit with this broker.
With this said, Boss Capital does seem to have a lot to offer. Our Boss Capital review has all of the information you will need to figure out if this is the right place for you to trade. If you have further questions, spend some time looking at the site itself. If there are any unresolved questions, get in touch with their customer support team.
Trading binary options is very risky, and going with a low quality broker can increase this risk. The broker might not necessarily be a scam, but that doesn’t mean that it is going out of its way to protect you and your money. We encourage you to think carefully about risk management and the protection of your capital. Our Boss Capital review is here to help you get started off in the right direction and pick the right broker for your personal and unique needs.