At Byrix we strive to make trading binary options as easy as possible for everyone. Here are some frequently asked questions that will give you all the information you need on the market. If you don’t find an answer to your question below, please contact us and we will assist you immediately.
What is TRADER’S CHOICE? – NEW!
Trader’s Choice is a new feature that allows Byrix traders to mirror the patterns of top traders and monitor current trading trends, in real time. Traders can easily view what successful top traders are doing and copy them to develop a keen sense for market movements. This feature is located on the right hand side of the trading graph and provides continuous updates whilst traders are trading. Trader’s choice is considered one of the most imperative trade optimization tools.
Binary Option – what is it?
A binary option is a financial opportunity that offers investors a fixed price and a fixed return. Binary options are also known as Fixed or Digital options and are traded only on the internet.
Earning from Binary Options – How does it Work?
If the option expires “in the money”, the option you invested in will always earn a fixed amount of money for you. At Byrix you can earn up to 89% of your total investment amount when options expire “in the money”. For example, on a $500 investment you will receive a $945 return.
What are Byrix’s Underlying Assets?
Underlying assets are all assets being traded on the market, such as stocks, indices, commodities and forex currency pairs. The constantly changing market value of those assets is the basis for binary options trading. Byrixs offers a variety of underlying assets for trading. For the full list of assets please visit our Asset Table.
What Types of Binary Options does Byrix Offer?
Byrix offers four types of binary options:
60 second options
For further information on trading with these types of binary options, please see the binary options strategy page.
A Purchase Price of an Option – What does it Mean?
Every option has its target price. A target price is decided by the broker according to certain pricing updates and market movements. Byrix presents its target prices at which it is willing to sell the option. Investors can buy an option on both sides of the purchase price (high or low) according to what they believe the future price will be.
What is an Option Expiry Time?
An expiry time is the exact date and time where an option expires and is no longer tradable. The expiry time for each option is visualized on the trading platform and is adjusted to the investor’s time zone.
How Can I Close an Option Before it Expires?
At Byrix you can close an option before it reaches its expiry time, whether it is high or low. Closing purchased options prior to their announced expiry time is available only on some options. For more details on how to close options and understanding the benefits of this method, please see our binary trading sector.
What is the Expiry Level of an Option?
Every option has its own expiry level which marks the level of the underlying asset once the option is expired. An expiry level can be “in the money” (profitable) or “out of the money” (not profitable). Each traded asset has its own expiry levels.
What is the Difference Between ‘ In The Money ‘ and ‘ Out of The Money ‘ Expiry?
When expiring “in the money” your option has acted as you predicted and has gained the return on your initial investment. An option expiring “out of the money” is an option that hasn’t reached its target price and as a result you lose your investment. For example, an option expiring “in the money” would be a high option expiring above the target price, or a low option closing below its target price.
An option closing “out of the money” is an option that hasn’t fulfilled your expectations of the market.
An Option Expiring at the Target Price – Do I Make Profit, or Lose my Money?
If an option you invested in is closing at its exact target price, it is considered to be a “in the money” expiry. Moreover, in this case you will gain 100% of the initial investment you made.
What is an Option Investment Amount?
An investment amount is the amount of money invested by you in an option.
Is There a Minimum Investment Amount at Byrix?
Yes. At Byrix there is a $10 minimum investment amount per option requirement. The amount of the minimum investment price changes between countries and currencies.
What is the Maximum Investment Amount?
The maximum investment amount for a single High/Low option is 50,000 USD/GBP/EUR. The maximum investment amount for other options is $10,000. This amount varies between countries and for different currencies.
How Many Options Can I Purchase?
Purchasing options is not limited and you can purchase as many options as you like. However, there is a limitation on the total value of your open options and it is $75,000 at all times. This limited amount changes between countries and currencies.
Are There Any Special Computer Requirements in Order to Trade at Byrix?
No. all you need is an internet connection and a computer, smartphone or mobile device. Trading with Byrix does not require downloading programs of any kind and is done completely online. All popular browsers are in use at Byrix. All browser versions starting from Explorer 8.0, Google Chrome 4.0 or Firefox 3.6 are suitable for trading.
Please note that Java script needs to be enabled in order to trade in our site and Flash player needs to be installed in order to view all of our site elements.
Is my Private Information Protected?
Yes. Your private information is highly protected using the most updated high-tech techniques on the market in order to ensure you with a safe trading environment. Byrix secures all transmissions with a 128bit SSL encryption certificate provided by Thawte.
Why am I Unable to Trade?
Who are We?
Byrix is an online binary options broker, operated by MTN Global Ltd Financial Services Limited. MTN Global Ltd is privately owned and supervised by on line trading professionals with years of specialty in the financial market, forex trading, stocks, binary options and more.
Deposits & Withdrawals
How Can I Make a Withdrawal at Byrix?
To make a withdrawal simply navigate to the banking page once you have logged in. At the banking page you can select the withdrawal that you wish to make and click submit.
What Is the Minimum Withdrawal Amount at Byrix?
Minimum withdrawal amount: 100USD / 100EUR/ 100GBP/ 10,000JPY/ 611CNY
Minimum withdrawal amount via bank wire transfer: $1000/€1000/£1000/¥100,000/ руб 10,000
Is it Possible to Cancel a Withdrawal?
Yes. It is possible to cancel a withdrawal request that has not been transferred yet. In this case, the funds will be returned to the trader’s account.
Depositing Funds – How do I do That?
At Byrix you can choose the method of depositing that works best for you. Depositing funds is available with credit cards (Visa, MasterCard), bank transfer or digital payment. For more information, please visit our banking page.
Byrix can only accept deposits made from your personal account.
In Which Currency do I Deposit?
Basically, traders can choose between the four most popular currencies for depositing funds (USD ($), GBP(£), JPY (¥), EUR (€) or RUB (руб)). When registering to Byrix you will be asked to choose your trading currency. Please note that once chosen, your trading currency cannot be changed.
Deposit funds with Skrill(MoneyBookers)
Byrix allows you to fund your trading account using a Skrill(MoneyBookers) account. You must be a registered Skrill(MoneyBookers) user. Once you upload funds to your Skrill(MoneyBookers) account you can then send the money to your Byrix account. The process is simple:
Registering with Skrill(MoneyBookers):
1. Go to the Skrill(MoneyBookers)website and click the SIGN UP button.
2. Select your country of residence and preferred language and click the “Sign up” button in the Personal account box.
3. Fill out the details form and click the “Accept and create account” button when finished. Make sure to fill in all mandatory fields.
1. Once you are logged in to the site, click the “Upload Funds” button
2. Select your desired payment method and follow the instructions to upload funds to your Skrill (MoneyBookers) account.
Note: You can only send money in your selected trading currency.
Transfering the uploaded funds to your Byrix account:
1. Once you have uploaded the funds, click the “Send Money” button
2. Fill in the details as follows:
Recipient’s name: MTN Global Ltd
Recipient’s email address: [email protected]
Amount: As per the amount uploaded. Minimum deposit is €250
Currency: You may only send money in your selected trading currency
Payment reference: Byrix deposit
Detailed explanation: Your Byrix username (e.g. “John Doe”)
3. If required, tick the checkboxes as needed
4. Click the NEXT button and complete the process
What is the Minimum Initial Deposit?
The minimum deposit to start trading is $250/€250/£250/¥25,000. Just one deposit of $250/€250/£250/¥25,000 and you can be trading immediately!
Can I Register Without Depositing Funds?
Yes. There is no obligation to deposit on registering to Byrix. Only when you actually want to start trading will you need to make the minimum deposit of $250.
How do I Become a Trader at Byrix?
All you need to do in order to become a trader at Byrix is to register straight from the homepage. After making a deposit of a minimum $250 to your account you can start trading immediately after the transfer has been completed.
I Forgot my Password – What do I do?
In case of a forgotten password just click on “forgot your password” from the homepage and follow the instructions. Your password will be sent to the email address you provided when registering to the site. If you forgot your username please contact us for further instructions.
My Personal Information has been Updated – What do I Need to do?
If your personal address or other details have been changed just update your private information on your personal account. For more information on this matter please contact us.
How do I Know What my Account Balance is?
In order to check out your account balance all you need to do is to log in to your private account. Your account balance will be displayed on the top of the page.
How can I Supervise my Banking Transactions?
Your transactions history is displayed in your private account. All you need to do is just log in to your account in order to access all of your private information.