Glenridge Capital is a very peculiar kind of binary option broker. This is the first thing we look for, as such a page is a sort of business card for an operator. They do in fact have an About Us page, which can be found through a Google search, and it is in fact hosted on their main site. Launched in , it is one of the newer binary option brokers. The business model it pushes is the CySEC one, meaning that the broker is the only market maker.
In order to ever even hope to obtain a US license, a broker has to adopt the exchange-based model. According to community feedback, there are a number of auto-traders many of them known scams who have been associated with Glenridge Capital.
Essentially, these auto traders have used Glenridge Capital as their trusted broker, compelling those who registered with them to trade at the broker. This is by no means a mark in the plus column for this Glenridge Capital review, far from it. Despite evidence to the contrary, Glenridge Capital do not officially accept such auto traders at their brokerage.
In fact, in section 18 of their Terms and Conditions, they state that those found to be using automated or semi-automated traders at their site, or any backdoor API, will be penalized through the cancellation of their positions and the closure of their account.
There are a number of scam reports about the operation, as well as quite a few complaints. According to some of these complaints, Glenridge Capital representatives push a very aggressive agenda in regards to getting their existing traders to deposit and to trade more. Such moves are obviously contrary to the newest directives of the ESMA, which forbid brokers from encouraging their clients to trade more in any shape or form.
Other complaints have targeted managed accounts. Most complaints have been about the withdrawal process though. There were traders who flat-out said that they could not get their hands on their monies. The broker has 4 different account types, or rather levels, that are meant to provide traders with custom-tailored solutions. The base account type is the Entry one, which gives traders access to all the tradable assets, in addition to an eBook and a trading manual exactly what the difference is between the two, is quite unclear.
Again, such bonuses are contrary to the requirements of most European regulators. The Entry package also includes up to 3 risk-free trades. This package comes with up to 10 risk-free trades and in addition to everything the Entry account delivers, it also offers access to a personal analyst. The Preferred Account is aimed at big-time investors. One needs to bear in mind that these bonuses need to be earned out through massive trading volumes, and their redemption requirements are extremely steep.
The Preferred Account features up to 25 risk-free trades and on top of everything the Standard account offers, it throws in a free iPad. The number of risk-free trades featured by such an account is This is the account type recommended for professional traders — according to Glenridge Capital.
What sort of features this account type offers, is quite unclear. Needless to say, most of the promotions offered by Glenridge Capital are designed to encourage traders to trade and to deposit more. Their risk-free trades are an exception from under this rule.
Every new trader gets two such risk-free trades, and those who deposit at least in any of the supported currencies, get another couple of such risk-free trades. Every day, Glenridge Capital features an Asset of the Day. Those who invest in this asset, will get another risk-free trade. The Refer a Friend deal is another way to grab some bonus money at Glenridge. In order to get the deal, traders need to have an active account at Glenridge and the referred party needs to make a qualifying deposit.
Traders have to contact their account manager with the name of the referred client. The trader who amasses the most such points during the promotional period, wins a long weekend with a luxury car.
The platform is not impressive in any shape or form. Some trades do go through, while others are rejected. The Glenridge trading platform does not support 3rd party auto traders. Trading this way is possible in theory at least, but the terms and conditions of the operation do not allow it. The entire Glenridge operation seems hurriedly thrown-together at closer inspection, and nowhere is this more obvious than in their education section.
Their Trading Tools are essentially a handful of extra features no one else would really call tools…These are the Extend, Double Up and Early Close features. The eBook they offer is hardly more than a summary guide on how one can open an account and begin trading at their site. The eBook has 14 pages, including the cover and the Contents page and most of it is material already used in various spots at the site. The Glenridge Capital asset selection is decent. It covers 4 indices and 13 of the most popular currency pairs.
It has dubious connections to various auto-traders and the return rates they offer on most of their trades are well below industry-average. The Education section exists in name only, and they do not give traders any trading tools at all. To sum up this Glenridge Capital review, you should stay away from Glenridge Capital and other unregulated brokers.
Read our Guidelines for Dealing with Brokers. Keep in mind, we do NOT recommend using fully automated auto traders. Experienced traders may benefit from semi-automated signal providers. If you are in need of trading signals, check out our binary options signals page for recommendations. Skip to content Glenridge Capital is a very peculiar kind of binary option broker. Glenridge Capital Account Types The broker has 4 different account types, or rather levels, that are meant to provide traders with custom-tailored solutions.
Preferred Account The Preferred Account is aimed at big-time investors. The payout percentages differ from one account type to another. This brings us to: Glenridge Capital Promotions Needless to say, most of the promotions offered by Glenridge Capital are designed to encourage traders to trade and to deposit more.
Glenridge Capital — Trading Platform The Glenridge trading platform does not support 3rd party auto traders. Glenridge Capital Education The entire Glenridge operation seems hurriedly thrown-together at closer inspection, and nowhere is this more obvious than in their education section.More...