The cryptocurrency market is increasing at a rapid pace. Investors are looking for different trading instruments and platforms to increase their profits. Binary options is a new trading instrument in the cryptocurrency market and we will review the binary options trading platform ICM DEFI.
What is Binary Option?
As the name explains binary option has two possible outcomes Win or Lose. Either the traders win the trade and make a profit or lose the trade and all equity in the trade will be lost. Binary options have a high-risk reward ratio. Traders should have good trading skills before start investing in binary options.
Due to the high risk-reward ratio, many jurisdictions see binary options as gambling. There are only a few regulated binary option trading platforms available in the market. Let dig up the regulated binary trading platform ICM-DEFI.
About ICM DEFI
Company Information: ICM DEFI exchange (www.icmdefi.com) is operated by ICM BECKER, a Germany investment firm, authorized and regulated by the International Financial Services Commission of Germany with license number 2020-01553. ICM Decentralized Finance is located at Unit Marschallstraße 12, 42329 Wuppertal, Germany.
- Domain name: www.icmdefi.com
- Registration date: 19-12-2019
- Update date: 14-07-2020
- Expiration date: 19-12-2024
- Main access sources: Russia, Vietnam, Bulgaria, and Ukraine
ICM DEFI is a binary options trading platform that allows users to open UP and DOWN positions on cryptocurrency assets including BTC, ETH, XRP, LTC, and more. Traders can analyze and predicts market movement. If the trader thinks the price of a given asset will increase they can open the UP position, if the price move in the up direction than the traders get profit on their position and vice versa.
ICM DEFI offers two types of accounts on the platform: Main account and training account. You can perform trades in both your real and demo accounts at the same time by switching between them in the trading terminal.
The main account needs a deposit. Users can make a deposit in any of the supported cryptocurrencies. The funds in the main account are real and users can withdraw them or use them for trading to make profits.
The demo account is given by the ICM DEFI to understand the binary options trading and to test the skills. After registration, the demo account will be funded by $10,000 by ICM DEFI. Users can not withdraw the funds of demo accounts. The demo account can be used for education and training purposes.
Open an Account on ICM DEFI
Step 1: Open the ICM DEFI website and click on register
Step 2: Fill the required information completely
- Your email: Your valid email address
- Full name: Full name
- Password: Login password
- Confirm Password: Re-enter the login password
- Reference code: Optional
- Check “I’m not a robot”
- Then click Register to start the registration
Step 3: Activate your account via a confirmation link sent on the provided email address.
Deposit and Withdrawals
ICM DEFI exchanges support multiple cryptocurrencies. Users can deposit in any of the supported crypto assets. The supported crypto coins are Bitcoin, Ethereum, Tether, Litecoin, Bitcoin Cash, Ripple. Users can start trading with as low as $1.
You do not need to make a deposit right away. You can start by practicing on the training account, get used to the platform, and fine-tune a profitable new strategy, then go to the real account.
Users can withdrawal the funds using supported cryptocurrencies. The supported crypto coins are Bitcoin, Ethereum, Tether, Litecoin, Bitcoin Cash, Ripple. The minimum withdrawal limit is $20. A withdrawal request will be processed in 24 hours on working days. The withdrawal request may take up to a maximum of 3 days to process.
- Reputable exchange regulated by the International Financial Services Commission of Germany
- Safe and transparent for investors
- Two Binary Options available are UP and DOWN
- User-Friendly Interface
- Good Trading Analysis tools
- Customer Care support available 24/7
- Maximum Profit of up to 95%
- Trading time is limited with 2-time frames (5:00-10:00 and 12:00-17:00 (UTC))
- Currency pairs are not fully launched for traders
- In the process of perfecting market charts and tools to support market judgment and analysis
This is a pretty good broker and the trading community is relatively crowded. With the above article, we have shared and introduced about the trading platform, how to register an account and make money transactions with ICM-DEFI.