Finrally review – Binary Options Trading in USA & Canada (and rest of the world)
Hello friends and followers, this is Imba Trader and I’m in magical Venice. I’m still on vacation, but I do try to devote some time to daily trading because in my opinion, this is the best way to make money online. So please watch the video, subscribe to the YouTube channel, try free demo trading and let me know what you think. Alright, so I’m back to my hotel room. Today I wanted to review one of the brokers that appeared in the market recently which has one really important feature that differs it from the other ones. It does accept users from all over the world, and yes, including the US, Canada and Australia, Israel, Europe, and all the other ones because I get those questions on a daily basis like what are the brokers where traders from US and Canada can trade. Because of the legal regulations, most of them do not accept users from North America, Australia and a couple other countries, but the one I’m talking about today, Finrally, does.
I wanted to make a short review and go over the features that it does have. So this is the main page of the broker. I do have the account already. I traded for a couple days. So I do log in here, and this is the main window. My current balance is $7500. I already made several trades today. Here is the list of the trades. As you can see, those were the good ones, because I was able to win four out of five. So I was making the $100 trades and on different currency pairs. My payout was $190, $170, $185, $185, and I lost this one. So basically, this is the nice profit in a relatively short period of time that I spent today.
Here on the left is the list of the assets that the broker offers. Right now, it’s not the best time to trade because the markets are closed, but still you can find some that do offer 90% payout, and the movements are pretty decent here. All the other ones are in the range from 60, 70, 80% payout, which is definitely on the level of the markets’ average payouts. So you can take the trades which are the long term. Basically if you do have some information, some forecast that in a couple days, the assets can change in price, in a certain direction, you can choose the date of the expiration. The intraday means that you make the forecast of the trade by the end of the day.
I do trade mostly on turbo options, meaning that I do choose the short expiration time, mostly in the range from 1-5 minutes. Sometimes I also do from 5-15, but most of the trades, like 90% are with the 1-5 periods. So what else is here? There are a bunch of instruments you can use like market news, forecast, technical analysis, and all the other ones. But again, for me personally, for the strategies that I use, they do work only when I do the long term trades. In cases when I do short term one, from 1-5 minutes, they basically can only define the state of the market at the current moment, but not give me the right picture of how the asset will behave in 5 minutes. So for that reason, I do use only the indicators which give me a pretty nice probability of how the asset should behave in three minutes, in five minutes. For this purpose, there is a technical charting tools feature in Finrally. The charting tool is provided by the TradingView platform. It’s a charting platform which is very widespread and popular.
I do use it on a constant basis as well. Let’s check out the feed. For example, Euro, Canadian dollar. Switch to one minute. All right, those are some big pin bars here, but still we might be able to do some trades over here. This is the main page of the TradingView charting platform. So let’s take a look at the Euro, CAD. One minute and you see the price feed is the same. It’s just the color theme that differs. I basically do the white one. Anyway, getting back to our trades, I do use the settings including the candlesticks graph, one minute period. I do also at some indicators which help me to define to make the right forecast, the Bollinger bands, Commodity Channel Index which stands for CCI, and Stochastic RSI. So I did cover these in my previous videos, but I do know that there are a bunch of new users that sign up to my social channels. That’s why I will try to briefly describe them in each of my future videos.
So if at this point, you got bored and you don’t want to watch it anymore, feel free to check out the platform. The link is in the description, so you can just register a free account and take a look at how the broker features work. I’m going to proceed and make a couple trades. So getting back to the indicators. The Bollinger bands is these three lines that you see on the screen, the average one.
The middle one is the moving average. The upper and lower one, they form the price channel which helps me to make the forecast when the market is in range, basically when there are no steep movements. Like here for example, when I see the breach of the upper Bollinger band and the market is going basically more or less sideways, it indicates to me that when there is a breach of the upper band, then the price should go down. Here, if I would take one or two minutes trade, it’s going to be a win. The same thing over here.
You see some steep drop of the price, breaching of the Bollinger band, taking the trade for the rise. This is a win again. The same, the breach of the lower Bollinger band, taking the trade for the price rise. It’s going to be a win. Again, as I said, this works better with the market that is in range when it’s going sideways, but in cases when there is some certain trend line, the other two help me a lot. The CCI indicator has two horizontal lines with the range of 100 and -100. What it does, it shows me the direction of the trend. For example, if the line is going up, it’s showing me that there is the upwards trend. When the line crosses the 100 point, it means that there is some steep movement upwards of the price.
At the moment when it does show the end of the trend, some reverse movement, it means that the trend got out of the steam, and the price should start moving in the opposite direction. So the same here. You see there was a breakthrough and it started going back. The same here, the breach of the lower line and then started going back. That’s why it helps me to define some short terms trends. The similar thing with the Stochastic RSI indicator, there are also two horizontal lines with the 50, 25 and 75 range settings. It shows me the oversold and overbought conditions, meaning when the current asset is overbought, then the price should start going down. The same thing with the oversold conditions. When the price went far down, it means that at some point in the closest time, it should start going in the reverse direction.
So right now, there is not much movement on the Euro, Canadian dollar currency payer. So I would go ahead – and you see we do – the same thing is happening here. I wouldn’t consider it as the safe market conditions, probably Euro, GBP, some better movements. We might get some better results here. So two out of three indicators show me that probably there might happen, some upward movements in the near future. I would go for the call trade. I took the two minutes expiration time. Why I decided to do this, because the CCI indicator is showing me that the price, that this smaller trend is going in the upwards direction. The same here, though the 25% line isn’t crossed significantly, but you see there is the intersection of the two lines and the direction of the price feed is going up. That’s why I made this assumption that eventually it should start going in the upwards direction, but maybe I was wrong. As you see, it might not be the case. So what I can do is just be ready to apply the Martingale Strategy.
When the assets price is at the point that is lower as my previous trade, I will go ahead and make the same direction trade, but with the bigger amount. I’m going to proceed with the $200 stake. Maybe I won’t need to do that, we’ll see. We’re going to be able to get this when our trade expires. Anyway, I was using – all right perfect. I was right. So result is $180 revenue. I would take a look at couple other assets so you have some better understanding of how things work, Euro, Australian dollar. There are some nice movements shown up here.
Again, the indicators show me that price should eventually start going up, two minutes, $200 call stake. Let’s see. This is the list of the trades that I took today. The results are pretty nice. That’s why I go for some bigger trades. Usually I try to stay in the range of 5% of my whole account, meaning that I try to make trades that are not bigger than 5% of my account balance. That’s why $100 bucks is pretty acceptable for me in this case, but having a pretty nice ratio of wins during the day, I was able to allow myself to go for bigger trades. Anyway, let’s see how it works out. We got about one minute left. It might not look that accurate, but still, when we do have two indicators that are giving us the binary options signal, we still have some nice probability of the win.
I’m going to prepare for the next trade because there’s still a chance of losing this trade. If this happens, I might just repeat it if the conditions will allow me, but I won’t have to. All right perfect. The result is $372 revenue. I think my total account balance is $7700 at the moment. I think this is pretty good results for the day. I probably will stop at this point.
I will continue either tomorrow or in a day. I’m still on vacation, so I can’t devote all my time to trading though I try to as much as possible. If you like the video, please subscribe to my YouTube channel, to my Facebook group. I will try to post as much useful information as possible there. If you’re interested in trading, especially if you’re from US or Canada, because there are the countries that do not allow most of the brokers, then go ahead and try. Register a free account and try trading using the indicators that I mentioned. You might be able to get some decent results as well. So thank you for your time and I will see you later. Bye-bye guys..
As found on Youtube
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