One of the weirdest reasons why some people have not been able to start trading or investing in stocks, options, forex, and commodities is that they find it hard to choose an online broker. Of course, a simple Google search query on “Online Brokers” will return 32,000,000 hits. Hence, it is usually hard for many people to choose an online broker out of the millions of brokers vying for your attention and your capital.
If you want an online broker that has your back in the online trading and investment landscape, it might interest you to know that BuyerBank is the best broker for the job. BuyerBank is created as a simplified platform that breaks the monopoly of Wall Street to provide casual investors with easy access to the capital markets. This is an unbiased review of BuyerBank, its services, its pros, as well as its cons. We strongly believe, that reading this review would provide you with the information you need to make an informed decision in your quest for the perfect online broker.
BuyerBank: The Service
BuyerBank provides everyday traders and investors with a sophisticated yet simplified and easy to use trading platform. You can trade digital options, long-term options, turbo options, one touch options, and range options on BuyerBank.
BuyerBank also provides traders with a suite of resourceful trading tools. For instance, traders get to access an updated economic calendar that allows you to know events of economic importance at a glance. The economic calendar makes it easy for you to plan your trade to be on the best side of a trade when market-moving news breaks.
BuyerBank makes it easy for traders to piggyback on the best strategies of the pros with its Trade Expert resource. Trade Expert makes it easy to profit from the pros by trading their strategies with a single click. With Trade Expert, you’ll choose your strategy, wait for a scan showing the potential performance of the strategy, get your result and then trade or invest with the strategy.
The Internet has brought about massive changes to the operations in the capital and financial markets. BuyerBank is a forward-thinking broker; hence, it provides traders with a mobile trading platform that allows you to access and run your account from your smartphone. The BuyerBank app allows you to plan, enter, and exit trades. The app also provides you with market quotes, streaming quotes, and market charts.
Top-notch Customer Service
BuyerBank won the People’s Choice Award for “Best Customer Service” as a testament to the quality of its customer service. When you open an account with BuyerBank, you can expect to get personalized one-on-one support that will guide you in reaching your trading goals. You can easily connect with a BuyerBank customer care representative through phone calls, direct chat on the website, emails, or through their social media platforms such as Facebook and Twitter.
An Account Type for Every Trader
Another great feature that gives BuyerBank an edge over other online brokers is that it offers an account type that suits the needs of different classes of traders. BuyerBank offers four account types namely Silver Account, Gold Account, Platinum Account, and VIP Account. Gold members get higher payout rate of 3%, Platinum members get a higher payout rate of 5%, and VIP members get a higher payout rate of 7%.
If you don’t want to jump into the exciting world of online trading with both feet yet, you can open a Silver Account with BuyerBank. You can invest between $250 to $999 for a Silver Account with BuyerBank. You can take your investment to the next level by opting for a gold account on BuyerBank – you can invest between $1,000 to $9,999 for a Gold account. You’ll need to invest between $10,000 and $24,999 for a Platinum account with BuyerBank. If you are ready for the major league trading with options, a VIP Account starting from $25,000 is the way to go.
Pros and Cons
BuyerBank has three main advantages over other online brokers. The first advantage is that you can test your trading wings with a minimal trading capital of $250 on the Silver account. The second advantage is that BuyerBank provides traders with high profitability and loss control. You can get up to 85% ROI on Binary Options within an hour and you can stop a trade at any time without being forced to wait for a stop loss order to kick into action. Thirdly (and most importantly), BuyerBank offers traders a last generation SSL 3.0 protection that guarantees maximum security 2048 bit 24/7.
Cons: We are not impressed with the fact that BuyerBank is quiet about the payout ratio to its Silver account holders. We also have reservations about the lack of insurance recovery for Silver and Gold members on the platform.