BOL Financial is a financial betting product, which is offered as a part of the overall gambling and betting services offered by BetOnline. BOL Financial allows traders to enjoy competitive profits, and even earn refunds in the case of out of the money outcomes. As a result, the potential for losses is minimised, which is further aided by the amazing bonuses on offer. However, there are a few shortcomings such as a lack of a demo account and the relative weakness of the regulatory status. Nevertheless, BOL Financial is a good option for binary options traders who would also like to try their luck in online gambling, poker, live casino, and sports betting.
An Intro To BOL Financial Trading
BOL Financial is a financial product offered by BetOnline, which is a gaming website that offers a wide range of products and gaming resources for gamblers and bettors around the world. Binary options trading may be considered as a form of gambling, but there are certain ways by which traders can improve their odds of winning. Binary options offer an exciting and lucrative opportunity for traders to take advantage of short-term market fluctuations, and it has been proven by countless investors that wise and strategic investing in the Binary Options trading markets can heap good rewards. Our BetOnline Financial review is designed for all investors, regardless of their expertise or market knowledge.
BOL Financial Company Information – Is The Company Dedicated To Online Gambling?
BetOnline does not conceal its affinity towards gambling and betting, as the company has offered its BOL Financial services alongside other betting and gaming departments such as sports betting, online poker, live casino, and other forms of online and offline gambling services. BetOnline launched its gaming services in 1991, but only recently included the financial markets into its portfolio by offering a dedicated Binary Options trading service in the FX and commodities markets. BetOnline is based out of Panama City, Panama, which is a popular destination for gaming and investment-oriented companies.
BetOnline hasn’t provided any information on its regulatory status, official headquarters, or any other identifying information, which may deter potential investors from ascertaining the credibility of the company. When it comes to trusting a company that deals with finances and financial products, it is imperative for traders to attain clear and detailed information on the regulatory status, the physical location, and the way in which clients’ funds and investments are handled. Therefore, we are a bit concerned that BetOnline may not be able to match the standards set by other leading regulated Binary Options brokers.
Despite the fact that BetOnline offers its BOL Financial betting services without a valid regulatory license, there aren’t really any doubts or concerns regarding the company’s reputation and reliability. Hence, we wouldn’t hesitate to recommend the company’s services to binary options traders and online gamers, especially due to the fair amount of positive reputation that BetOnline enjoys in the online gaming industry.
BOL Financial Trading Instruments & Financial Assets
The BOL Financial section of BetOnline may not be able to match the sheer number of financial instruments and tradable assets as offered by other leading binary options companies, but it does cover a significant part of the FX and CFD market. We have outlined the different financial instruments available for BOL Financial below:
FX Currency Pairs: AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CHF/JPY, EUR/AUD, EUR/CAD, EUR/GBP, EUR/JPY, EUR/USD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/USD, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/NOK, USD/RUB, USD/SEK
Commodities: Gold, Silver, Copper, Oil
BOL Financial is only a part of the overall services portfolio offered by BetOnline, and it is offered in conjunction with other gaming, betting, gambling, and poker related products. Therefore, in the grand scheme of things, BOL Financial may offer added advantages for online gamers, but as far as binary options traders are concerned, BOL Financial may offer restricted market access. Nevertheless, BOL Financial has provided all the major FX currency pairs and the main commodities to ensure comprehensive market coverage. The company also allows its clients to take advantage of the innovative binary options products and trading features, which keeps it in good stead against the competition.
What Are The BOL Financial Trading Features, Payouts, & Cost Of Trading?
BOL Financial offers six different types of binary options trading products, which can be used to bet on the direction and trend of the markets. BOL Financial utilises the traditional high/low but offers the option of Digital, Touch, Range, Turbo, One Touch, and 5 Ticks binary options. The maximum payout for the conventional binary options is 80%, but interestingly, BOL Financial allows traders to enjoy lesser profits, in return for a fixed refund in the case of a losing trade. Therefore, if a trader is not confident about their trading prospects, they can always choose a lower payout, which guarantees a refund in the case of out of the money trade outcomes.
The highest return on offer is 80%, but traders can opt for reduced returns from 60% to 75% ROI. The refunds range from 5% to 20%, but the maximum payout of 80% does not qualify for any refunds. The Touch option also provides better returns on trading, which can offer as high as 220% returns. Nevertheless, the payouts for the traditional high/low option of 80% is not as high as some of the other payouts, which can reach as high as 95%. Apart from the profits and losses incurred for in the money and out of the money trades, there are no other costs of trading associated with BOL Financial binary options or financial betting.
Traders are offered the opportunity to open an account for as low as $10, with no upper limits. The minimum order is $1 per position for online investments, while orders placed through phone calls have a minimum limit of $25 per order. The company hasn’t specified any maximum limits on orders and positions, but the platform has a self-induced maximum limit of $100,000 per position.
BetOnline Trading Platforms
BOL Financial is accessible through two different trading platforms, a downloadable interface and a web-based interface. Both platforms are designed to offer comprehensive access to all the different products and services offered by the company, which also includes financial betting and binary options trading. The online web-based trading interfaces are usually preferred by a majority of users due to the ease of use and flexibility, but serious traders can also download the dedicated trading platform for more control over their trading interface.
The Web-based BOL Financial platform is not as efficient and reliable as other mainstream binary options trading interfaces, as the platform has numerous bugs and intermittent issues. Nevertheless, the trading platforms are easy to use and are highly flexible to be used on different devices. The online platform has a convenient layout that not only provides all the relevant information about trading, but also offers a basic chart, a bet slip, and access to the full range of assets offered by the company. Apart from the few reliability issues, the BOL Financial platform is indeed easy to use, and traders can get comfortable with the platform really quick.
BOL Financial Mobile Trading Interface
Unfortunately, BOL Financial does not have any dedicated mobile trading apps, as all account holders get access to the web-based gaming version of the BetOnline platform. Nowadays, most traders, investors, and online gamers look for the best mobile gaming apps and unhindered mobile access, which has become a must-have for any modern company. Therefore, it is indeed a surprise and a huge oversight by BetOnline to have omitted the availability of a dedicated binary options trading app for mobile users.
Minimum Deposit, Withdrawal, & Payment Options At BetOnline
The minimum deposit for a BOL Financial account is $10, but the minimum deposit amount changes according to the choice of the payment method. Traders can fund their accounts through Bitcoin, Litecoin, Visa, MasterCard, MoneyOrders, Skrill, Neteller, Bank Wire Transfer, and Cheque. Being a gaming website, BetOnline has ensured that its clients can access any type of gaming or betting product, without having to open individual accounts for each service. Therefore, gamers can invest in financial products, while binary options traders can also try out their hands in poker, gambling, and sports betting.
The company imposes a minimum withdrawal limit of $20 and has also reduced the number of withdrawal options for its users. Traders may only be able to make a withdrawal using Bitcoin, Litecoin, Bank Wire Transfer, Cheque, Skrill, and Neteller. Therefore, make sure that your identifying documents and your name on your online accounts match each other to ensure seamless withdrawals. There is also a maximum withdrawal limit of $24,900, while there are no maximum deposit limits.
BOL Financial Bonus
BetOnline is a pure gaming service, which means that users are pampered with some of the most amazing bonuses available in the market. The BetOnline bonuses start from $25 free play to up to 100% bonus, while the company also offers guaranteed payouts and cash prizes of up to $150,000 for individual games. The company offers an exclusive chance to its users to be a part of periodic tournaments, along with the availability of loyalty bonuses, which are guaranteed to increase traders’ equity without actually risking anything in the market. On the downside, though, BOL Financial may impose several bonus terms and conditions, which should prevent traders from withdrawing their money before satisfying the bonus terms and conditions.
BetOnline Demo Trading
Perhaps one of the major drawbacks of trading with BOL Financial is the lack of a demo trading account. Of course, the company does provide a demo of its trading platform by granting access to the online platform through its website, but actual live trades can only be performed by opening a real account and depositing money into the account. Normally, we recommend traders to demo trade a new platform for an extended period of time, in order to get familiar with the interface, before moving on to real and live trading conditions. However, BOL Financial does not provide this option, and it may come as a surprise to both new and established traders that BetOnline does not provide a demo account option.
If you are indeed keen on getting familiar with the platform before live trading, the online representation of the online trading interface can be a good option to provide you with the overall feel of the interface. You can work with several live trading features, experiment with odds, stake, and asset selection, and browse through the binary options products and expiry times to learn more about the platform performance.
BOL Financial Customer Service
BetOnline does not have the best customer support channel in the market in terms of overall professionalism and expertise, but they do have a team of user-friendly and honest customer service representatives who are available on-call 24X7. Customer service is limited to a phone number and a few emails, which is conspicuous in its absence of a live chat feature and a web contact form.
The company is also active in the social media, which enables clients to contact the customer service representatives through Facebook, Twitter, and Google+. Nevertheless, general market consensus dictates that BetOnline should invest their resources into developing a more professional and detail-oriented customer service department.
BetOnline Extra Features & Trading Functionalities
BetOnline severely lacks in the trading features department, as the company does not provide news coverage, technical analysis, research, or any other type of market information. It is true that the company focuses on the gaming and gambling aspect of trading, but users will still require a basic amount of research and technical tools to make a correct interpretation of the market. Even the charting options are pretty basic, as the online interface only provides a basic candlestick chart of the assets for numerous timeframes.
BOL Financial Verdict
- Competitive returns with the option of getting a refund for losing trades.
- Excellent bonus options for all types of traders.
- A wide number of assets and binary options products for diversifying investments.
- Traders have the option to indulge in different types of betting and gaming alternatives.
- Varied payment options and lower deposit options.
- Questionable regulation and location that does not induce much confidence in the trader.
- The platform needs improvement to include more features and added reliability.
- The absence of a demo account for trading.
- Basic charting package with minimal features.
Is BOL Financial A Good Broker For Bonuses?
BetOnline is a gaming portal, and as such provides one of the best bonus packages in the market. Get in touch with the company’s customer service representatives for customised bonus options.
Do I Receive Free Trading Signals & Technical Analysis?
BOL Financial does not provide any free trading signals, neither does the company offer any news coverage or technical analysis.
How Much Do I Need To Invest In BOL Financial binary options?
BOL Financial allows traders to start investing with $1, but the minimum deposit is $10. There are no maximum limits on the deposits, but trades and orders may be limited by the broker’s particular trading limits.
Do BetOnline Process Payments/Withdrawals On Time?
BOL Financial has been known to process withdrawals on time, and have a pretty good success rate. However, don’t expect the reliability and regulatory protection as offered by other regulated binary options trading companies.