Boss Capital is the newest binary options broker catering to the US market (not anymore darn it) to gain the attention of influential voices in the community, which is partly responsible for their explosive growth in such a short period of time. But having successful and influential traders on your side is certainly not by itself enough to explain the impressive success of this broker. And that is what our new Boss Capital review sets out to explain. What are they doing over there to get so much attention and praise in such a crowded and competitive industry? Very few new brokers these days are able to make a name for themselves and capture any significant market share from the established names in the business. Yet Boss Capital managed to do just that. Read on to find out how…
Boss Capital Review Basic Information
BossCapital Website: http://www.BossCapital.com/
Platform Launched: January 2014
Accepts US Traders: NOT ANYMORE – BOO!
Boss Capital Minimum Deposit: $200 USD, EUR, and GBP
Boss Capital Deposit Bonus: From 30% Up To 100%
Contract Variety: High/Low, Above/Below, One-Touch, Boundary, and Short-Term
Boss Capital Demo Account: Available Upon Special Request
Platform Technology: Tech Financials
Boss Capital Trading Platform & Features
The first thing which we noticed about the Boss Capital trading platform was its unique look and feel. This was somewhat unexpected since we knew that they used the Tech Financials platform technology, a technology used by several other brokers in the business that we have traded with. Of the binary options brokers that use the Tech Financials technology as the basis for their platforms there is only one other broker who use it as well as Boss Capital, and that would be the popular global broker, 24Option (read review). And unfortunately, they no longer accept US traders. Of the brokers who are still serving the US market, we can say that hands down Boss Capital has the best implementation of this platform technology that we have seen to date. Let’s take a look at some of the highlights and features of this broker.
- Very Clean & Easy-To-Use Trading Platform
- Advanced Charting & Technical Analysis On-Site!
- 150+ Underlying Assets, With 200+ Trading Combinations
- A Handy Underlying Asset Filtering System
- Customer Support In 10 Widely Spoken Languages
- “Hassle Free” Guaranteed Withdrawal Policy
- Rarer “Short-Term” and “Boundary” Options Available
- 7 Different Contract Varieties To Trade With
- Outstanding Education Center With Video Academy
- High Payouts On Short-Term Contracts – Up To 85%
- Both Standard and High-Yield One-Touch and Boundary
The image above was taken while trading during our month-long Boss Capital review period, and shows their outstanding on-site advanced charting and technical analysis tools. The only other broker we know of that can offer on-site charting as advanced as this is 24Option, and they are the 3rd most popular broker globally so Boss Capital is in good company there. We usually recommend that our readers and visitors use off-site charting software such as TD Ameritrade’s ThinkOrSwim software, or the popular forex charting software of MT4. However, in the case of Boss Capital we found that this was rarely, if ever necessary. Only when making “long-term” contract trades (end of the week or longer expiry windows) did we really feel the need to use our full-featured TOS charting software.
Before moving on to the Boss Capital customer service and educational material available we should briefly touch on what kind of trading options are available on the Boss Capital platform. Earlier in this review we mentioned that Boss offers a total of seven different contract types to trade on (or five if you don’t separate standard and high-yield contracts). This is the most you will find at any binary options broker currently. There are others with 7. Just none with more than 7. Let’s quickly look at how each contract is traded on the Boss Capital platform.
Standard High/Low & Above/Below
The standard high/low binary options at Boss Capital are, of course, the “regular” binary options contracts which we all know and love. These are simply a bet on whether or not price will be above or below your entry price at the time of expiry. These options generally offer between 71% – 89% return rates, and are the most widely traded contracts.
The above/below binary options operate a bit differently. With high/low options the goal rate (or strike price) is whatever the current price at the time of entry was. You are just choosing whether price will be higher than it is now, or lower than it is now. Whereas with the above/below options the goal rate (or strike price) is a pre-determined rate that is set by your broker at a certain distance from current price (the exact distance being based on current volatility). These contract are higher risk, higher reward contracts which can offer returns as high as 500% in some cases.
Boss Capital “Short-Term” Options
The fast-paced action of 60-second binary option trading was first introduced to us by Traderush in 2011, and then quickly spread from there. This contract variety has gone on to become the second most widely traded binary option type currently. But there are now a few brokers who are taking the idea even further, and they have begun to offer contracts in 30-second, 60-second, and 2-minute expiry intervals. This has also proven to be a very popular idea, and offers traders more flexibility and strategy development options. Other than the short expiry windows, however, these contracts are exactly like the regular high/low variety. And Boss Capital also offers some of the highest payouts in the industry on these contracts at up to 85%.
Standard Daily & High-Yield Weekly One-Touch
Another popular variety of binary option contract these days in the one-touch option. Boss Capital is offering these contracts as both standard daily contracts, and as high-yield weekly one-touch options, which can only be traded on the weekend. We really like how Boss has done theirs though because we like the ability to trade when markets are closed over the weekend. And these “long-odds” weekend contracts can offer returns as high as 500%, or even more in some cases. This variety of contract is especially useful in event-based trading (trading the news, earnings releases, etc).
Regular Daily & High-Yield Weekly Boundary Options
Boundary option (regular or high-yield) are a much more rarely seen contract variety, but one which is beginning to gain in popularity. Boundary options are somewhat similar to the above/below variety discussed above. With these options the trader will be deciding whether or not the price of the chosen asset will finish within a certain price range, or outside of that price range. You can actually see this in the image above as the two parallel lines which are defining the price range. At the time of expiry will price be within those two lines? Or will it finish outside those lines? Simple enough.
Boss Capital Customer Service & Reputation
In our book customer service is possibly the single most important factor when choosing a broker of any kind. We’ve seen what happens at binary options brokers with bad customer service, and all the features and bonuses in the world cannot make up for it. With that in mind we always make sure to try to contact a broker’s customer service agents at least a couple of times during our review periods. We will usually manufacture some fake problem we are having with our account or the trading platform and see how they handle it. If they can keep their cool and remain friendly and helpful while trying to solve a problem that doesn’t even exist and can’t really be solved, then they are doing pretty darn well. And we are happy to report that Boss Capital went 2-for-2 in the positive experiences department this time around. Once with a phone contact, and again using their live chat feature.
What about reputation though? Can a broker as new as Boss Capital even have an established reputation? Well normally we would answer that with a resounding no. However, in the case of Boss Capital it is actually a yes. They do in fact have a long-established reputation for excellent service and market-leading innovation. How can that be? Boss Capital is brought to us by the same great company that brought us both Traderush and Redwood Options, two of the most popular and successful brokers in the industry. This solid financial and managerial backing is a good part of why they were able to gain the support of so many influential traders in the community so quickly after launching.
Educational and Strategy Development Materials
We view the educational and strategy development materials and resources offered by brokers as an important part of their customer service. Many people will be new to binary options trading entirely, and will need some guidance to get started. Luckily, Boss Capital has one of the better education sections which we have come across recently. New clients will get access to a beginners eBook, video courses, market commentary and analysis, a full video academy, and over 15 different webinars for all experience levels (the best material — see lock icons in image above for example — is saved exclusively for depositing clients). The great thing about the Boss Capital education section is that even very experienced traders are likely to learn at least a thing or two from this material. Most brokers offer only the most basic of strategy guidance. Strictly for beginners usually. Boss goes well beyond this level.
Boss Capital Review Conclusion
We haven’t had this good of an experience with a new broker in quite some time. Probably since GOptions first hit the scene. As far as global binary options brokers go, Boss Capital can certainly at least compete with the best of them. But when it comes to brokers that are still serving the US market, Boss Capital is now our newest top choice for US-based binary options enthusiasts. That is not to say that they are not also a good choice for those outside the US, because they are. It is just a matter of having a LOT more choice at hand than US traders currently have. All-in-all, this is definitely one of the best new brokers to enter the market in a long time, and we expect that their popularity will only continue to grow going forward.
Overall Boss Capital Review Rating = 4.5/5 Stars = Binary Bosses
If you have any personal experience with Boss Capital, or any other broker discussed here which you would be willing to share with the community then please leave us a comment below with your own review!