The Binary options market has seen substantial growth over the past few years. This has also, in turn, led to the birth of many new trading brokers, making it all the more difficult for any one of them to stand out unless they really offer something unique. Stockpair is a somewhat unique platform in that it offers a different interface and trading experience than the rest of the brokers. I went ahead and got myself a trading account and gave them a shot. Read on to see what the result was.
Review update: As of March 21st, Stockpair is officially regulated by CySEC
|Accept US traders||No|
|Normalized profit||Up to 86%|
|Trading assets||Stocks, Forex, Commodities, Indices, Pairs|
|Min. Account size||$ 200|
|Min. Trade size||$ 12|
|Deposit methods||Credit Card, Wire Transfer, Giropay, Skrill, Sofort|
|Withdrawal methods||Credit Card, Wire Transfer, Giropay, Skrill, Sofort|
|Special features||Full Layout Pairs Trading, Technical analysis, Trading indicators, 5 minute to 6 month options|
|Trading Platform||Proprietary (Custom Made Platform)|
Stockpair (http://stockpair.com), operated by Nextrade Worldwide Ltd., is, like many other binary options brokers, registered in Cyprus. They initially started their activity initially back in 2010 as a pair options broker (which we will get into later in this review), and after having a lot of success in that field, expanded in early 2012 into binary options trading. They use their own proprietary software, which has been developed from the ground up by them. I have to admit that they did quite a good job. The user interface is sleek and very easy to navigate and understand, but I’ll go into that a bit more later in the review. Stockpair is also currently undergoing review by CySEC, and they told me that they expect to receive approval within the next couple of months.
Like I always say, one of the limitations of binary options trading is that you cannot trade any and all securities, but are limited to what your broker has on offer. Comparatively, Stockpair does not lack in this field and actually sports the largest selection of tradeable assets of the brokers we have reviewed so far. As of writing this review Stockpair has in their portfolio currently 118 tradeable assets, including:
- 16 Indices
- 4 Commodities: Silver, gold, crude oil, copper
- 9 Forex currency pairs
- 89 NASDAQ and NYSE stocks
Table of Contents
One of the better ways to know if a broker is any good is simply by digging up on them over the internet and looking for user reviews (other than this one of course). Since this is somewhat fluid and constantly changing, I always monitor the web looking out for user reviews and how the broker is behaving with other traders besides myself. Stockpair currently has a very good track record and traders have nothing but good things to say about them on the net. The following a few examples of real user reviews from then net. Hover above them to see them in full size.
Before we go into reviewing the actual platform, I think I’ll dip into what a lot of traders truly care about when choosing a broker. You see, there are unfortunately a lot of bad seeds in the binary industry who provide really bad support and make it nearly impossible to withdraw your funds.
That’s why the first thing I’m going to do in this review is my Deposit/Withdrawal test. In this test I sign up for a new account and deposit some funds, wait a few minutes without making any trades, and then request a withdrawal. This is usually the hardest type of withdrawal since the broker usually wants you to at least try and start trading and may try to lock you in with bogus bonus claims. The following is my Stockpair Deposit Withdrawal test.
Initial signup just entails filling in your email and choosing a password.
After that, you need to fill in some really basic persnal details as you can see in the screenshot below.
That’s it. You’ve successfully signed up to Stockpair. Now in order to really start trading, you need to deposit some funds.
Depending on where you’re geographically located, Stockpair supports a number of different payment methods as you can see in the screenshot below. I chose Credit Card as it’s the fastest, safest and most trouble free method for me. I also don’t have a Sofort of Skrill account so it’s really a no brainer for me.
After filling in your credit card details, the system processes for a few seconds… and voila, your account is now funded and the amount immediately appears on your account balance and you can start trading.
So, depositing was really easy. Now for the interesting/important part. I waited a few minutes and then accessed the withdrawal screen and requested a full withdrawal of all the funds that I had just deposited. Sometimes a broker will call you up and beg you not to withdraw (sometimes they outright refuse).
Let’s see what happens with Stockpair.
So, I finished the withdrawal request and now, as you can see in the screenshot below…. the withdrawal is pending.
Stay tuned for an update on when the withdrawal is approved
Update: One day later, I get a call from an account manager telling asking me why I wanted to withdraw. I explained that I had a change of heart and am no longer interested in trading. He didn’t push too much and just told me which document I need to submit. Being a veteran trader, I have all these off-hand and submitted them immediately.
Later, I logged in to my account, and waddya know, my withdrawal has already been approved! 24 hours… not too shabby Stockpair!
Now for the rest of the review.
Opening an account at Stockpair is unsurprisingly easy and only takes a few minutes as you can see in the withdrawal review above. The minimum deposit is actually low compared to other brokers, at $200, although I wouldn’t necessarily recommend depositing only $200, it is of course nice to have that as an option. Stockpair also offer premium accounts with some impressive benefits to the more serious traders, and high depositors receive special features according to the deposit amount.
Many brokers use bonuses not only as incentive to get you to start trading, but also as a devious means with which to tie your funds into the account.
Stockpair is one of the few that does not do the latter.
With Stockpair, you can withdraw your funds at any time, even if you don’t reach the required trading volume! I think the screenshot below from their website says it all
So, customer support. Probably the most important aspect of a broker since it basically shows how much they care about their customers.
Stockpair seems to have taken this to heart, since their customer support system seems to be working without a hitch.
They offer email support, along with local telephone support in 11 different countries, and of course live online chat.
As always, I thought I’d waste some of their chat support’s time with some simple questions.
Response time was ok, at just over 20 seconds. However, I was pleasantly surprised with just how helpful the support rep was. Usually support reps give semi-decent answers and aren’t always the most polite of sort. Maybe I got lucky, but the rep that I got was very polite and patient, and answered my question with flawless English, and was concise and to-the-point. Definitely a 10/10 in my books for this pleasant surprise.
As I mentioned earlier, Stockpair operate with their own use a very straight forward and user-friendly web-based trading system. The graphic system is amazing and everything is instantly understandable. It almost jumps out at you and there’s no way for you to get confused with any aspect of the trading system. There is almost a feeling as if every single pixel on the screen has been meticulously thought out.
Regular Binary Options
The main screen allows you to choose between either regular binary options trading, or pairs trading (which I’ll go into later). Once you choose an asset, you’ll have the asset logo smack bam in the middle of the screen, and you can choose a call (green up arrow) or a put (red down arrow) option. Minimum trade amount is $20, which is pretty darn good.
The left part of the screen shows you all the tradeable assets. However, if an asset is not available for trade or the market is currently closed, that particular asset will be greyed out. The default asset chart is interactive, and you can hover your mouse of the line to see the pricing at any given moment. You can also choose the timescale of the graph, from 2 years (!!) to 30 minutes.
A welcomed feature that Stockpair have implemented is that you can choose from a large variety of expiry times right off the bat on all tradeable assets, from 5 minutes to 150 days.
Getting into a trade is very easy. As soon as you choose the direction you want (call or put), the buy button immediately becomes active. While in this mode, the price can still change. However, as soon as the buy button is pressed, the trade goes through at the price that was set at the time of pressing the button. This interface is really smooth and the actions take place immediately with absolutely zero delay, basically meaning that their is absolutely no slippage in their system.
Now, one of the really good things about Stockpair is that, unlike other brokers, Stockpair let’s you choose your own expiry time for every single trade. The expiry time can vary from 5 minutes all the way up to a whopping 150 days. Stockpair doesn’t even have fixed expiry times, so each expiry will be exactly how long you define it, and will take place within exactly 5, 15, 30, 60 etc. minutes from when you enter the trade. This is extremely good for traders who like to perform techincal trades and need control over the timeframe of the option.
Once you’ve put in a trade, you can revisit your current open trades at any time, with Stockpair’s wonderful graphic display system.
So, we’ve already determined that Stockpair’s interface is sleek, beautiful, and really fast. The big question is: how reliable and accurate is it? So, like always, I decided to put it to the test with my live level 2 trading software. Stockpair blew me away here. Probably because of the sheer update speed of their software, but the real-time displayed price was the weighted average of the level 2 BID/ASK within an error of 0.005%
Another thing, perhaps the single most important feature for a binary options broker. I checked and timed this a number of times. It didn’t matter if I was in-the-money or out of the money, and whether the expiration was very close to my strike price, all options expired exactly on time. No funny business.
So far, Stockpair has the single best trading user interface I have seen.
So, we’ve gone over Stockpair’s stellar standard binary options trading platform. So what else do they have to offer? Well, as the name suggests, Stockpair’s expertise is in pairs trading. In pairs trading, you take two assets, and predict which of them is going to perform better (percentage wise) within a certain time frame. This trading form can often be easier to predict if you focus on a few assets and learn their patterns. I’ll admit that I have seen pair trading on a number of other platforms. However, the presentation and execution of this feature is done much better by Stockpair than I have ever seen. As opposed to other brokers, Stockpair shows the charts for both stocks within the pair on a single display, rather than just displaying the ratio between the two assets. This makes it much easier to understand and reduces the chances of making a mistake when putting in an order.
All of the asset graphs featured in Stockpair have a “Technical Analysis” button just slightly above the chart. Clicking that button brings up a – you guessed it – technical analysis chart. If you don’t know how to read a technical analysis chart, I suggest that you read a few tutorials on the subject and get yourself educated. I you know your way around a technical analysis chart and learn to recognize good entry points, you chances of performing successful trades will increase exponentially. Again, a much welcomed feature.
As I mentioned before, Stockpair offer benefits to those who make larger initial deposits. One of these benefits is the trading indicator. This indicator, while not providing exact entrance points, provides some very useful and insightful information on certain assets, which could give traders a much welcomed advantage when trading.
Payouts and Commissions
StockPair offers various payouts on successful trades ranging from 68% to 84% on a number of factors, including time till expiry, asset type, and many more. There is no rebate on unsuccessful trades. They do however offer rather large payouts at up to 84%.StockPair do not charge any commission for any trades. Premium members also receive up to 3% cash back monthly returns on trades.
Stockpair have recognized that withdrawals are often a weakpoint for most brokers. That is why they have decided across the board to not charge any money for wire-transfer withdrawals. This is not limited to 1 per month. Successful traders can withdraw as many times as they want, free of charge and hassle-free.
After trading for a few a while with StockPair, I can say that I have pretty much fallen in love with their interface. Everything works seamlessly and fast. It is obvious that a lot of effort has been put in to make the user experience as good as possible. I truely respect them for that. They are relatively new in the binary options niche, which is why they are not yet as well known as some other brokers. However, if they keep their level and standards as high as they are keeping them now, I do see them gaining traction and have high hopes.