Bet On Finance Review, SCAM Or Legit Betting Site?
At first glance, BetOnFinance might confuse the average stock market hobbyist. That’s because this platform is not like any other binary options trading software out there – BetOnFinance.com singles itself out by introducing an interesting twist that combines the stock markets with a typical horse race betting platform. What is this new style financial betting, how does it work, and can you really turn a profit from this form of betting? Read through our BetOnFinance review and find out.
Official Website, Login Page, & Members Area: https://www.betonfinance.com/en/
Bonus Promotion: 100% on First Deposit
Maximum Bonus: $/€150
Recommended Deposit: $/€100
Minimum Deposit: $/€20
Minimum Investment: $/€1
Maximum Investment: $/€1,000
Maximum Returns: 90%
Regulation: Malta Gaming Authority (Valid)
What is BetOnFinance.com & Does it Really Work?
The concept is new, and for investors who enjoy a betting challenge, this is the perfect opportunity. Bet On Finance takes the stock market and turns it into a horse race that you can bet on. The various stocks, indices, and assets are the “horses” you can place bets on, and the winner is the one that comes out on top at the close of the market day. Investors make money by betting on the right horse, or in this case, asset.
How it Works
Making investments and earning money on the stock markets with BetOnFinance works dramatically differently than any other binary options stockbroker you’re used to working with. Instead of investing in a portfolio or buying up a block of stocks, investors bet on the assets they want to gamble on, as follows:
- Investors choose a stock or asset they would like to bet on.
- Then the investor decides how that stock will do within a given period of time. Investors can bet on either their top three picks or their bottom three to earn a profit.
- The last step is to place a real money bet on the stock, and wait to see who wins.
The style of trading makes investing on BetOnFinance a lot easier than on the average binary options website, as well as a lot more fun. For this reason, more people enjoy investing on this platform than the typical stock market manner.
Traders should note that there are two types of accounts available for BetOnFinance.com members. Similar to online gambling sites, BetOnFinance allows traders to open a demo account that lets you trade indefinitely without spending actual money. Of course, you also don’t profit any real money if your assets rise in the real market, but having a demo account can help newcomers to the industry learn, discover, and practice without having to worry about losing it all on a novice mistake. The other type of account is a real money account. With this type of account, members can make actual bets on stocks and make a real profit.
The assets available on the BetOnFinance platform cover a lot of options. Traders can invest in currencies, stocks, indices, and commodities, with 30 different companies on call.
BetOnFinance.com allows the following expiry times, a flexible assortment for all betting types: 15 seconds, 30 seconds, 60 seconds, 2 minutes, 5 minutes, 15 minutes, 30 minutes, 1 hour, 10 hour, 24 hour, 24+ hours, and End of Day.
Minimum Trade, Deposit Amounts and Caps
As with most aspects of trading on BetOnFinance.com, the minimum trading amounts is slightly different than what you may encounter on other sites. The limitations are on the deposit amounts, rather than the trade itself. So members are required to make a minimum of 20 € deposit while the minimum trade amount is 1 € and trades are capped at minimum odds of 1.05.
With such an individual platform, you are bound to find different features than the standard software offers. BetOnFinance stands out from the crowd with several perks, including:
- Welcome Bonus: Something totally unusual to BetOnFinance.com is their welcome bonus gift. A familiar reward for online betting arenas, BetOnFinance has taken a page from this smart playbook, and offers new members a 100% back (double your first deposit) welcome bonus on up to 200 € for their first deposits.
- Competitions: Another unique aspect of the BetOnFinance platform is their weekly competitions. All members (real money and demo account holders) receive 5000 coins to work with. Members are challenged to use their gift money wisely, making trades for as long as the cash will last. The members who traded the smartest throughout the week are crowned the champions at the week’s end. This is a great way to get traders interested and participating in the market.
- Supported languages: A pleasant change to the industry norm, BetOnFinance.com offers customer support in English, Danish, and Swedish including live chat, Facebook, or email options for contact.
- Turning the System on its Head: The tensions are high which makes every bet more exciting than your average stock market investment. Usually when you invest in stocks, you pay little attention to the frequent fluctuations of the market. When betting on the stocks, however, the potential to win or lose changes constantly until the moment the market closes. Every dip counts and every rise rallies, so investors are eagerly watching the market, anxious to see the final outcome.
- No conflict of interest: Another intelligent twist BetOnFinance.com utilizes is putting traders against one another instead of the broker itself. This way, you can be sure that there is never a conflict of interest motivating the platform to perform dishonestly.
Simultaneous Trade Execution
Traders can trade as many bets as they like simultaneously, assuming they have the funding for each one. Software is supported on all devices, smartphones, Tablets, iPhone, Android, and IOS.
The BetOnFinance trading platform is easy to navigate, and anyone can do it. All of your trading options appear within the Game Section on the left-side menu. Select which day of the week you want to bet on, which markets, how long, etc. On the other side of the screen, you’ll find the betting options available, bull or bear movement in the market, along with useful tools to help manage your finances. When trading in indices, investors will select the percentage of change they predict for that index within a given range.
This site is regulated by the both the UK and Danish governments, and is licensed and regulated by the Malta Gaming Authority under License Number MGA/CL3/1140/2015 for fair and safe gaming.
Technically this means that only Danish citizens are allowed to bet via the BetOnFinance trading platform. Most international users get around this obstacle by using a VPN or other proxy server, however we do not recommend it.
Is BetOnFinance.com Legit?
Because this is not an actually binary options broker, there is nothing that could be considered a scam. Investors are playing a game: either you win or you use, but nothing illegitimate is taking place. This is good news for investors who have had a hard time telling the fraudsters apart from the real brokers or software platforms.
It’s possible to achieve up to 90% return on investment, though traders should note that this is a max return not a guaranteed amount. And as mentioned earlier, the traders are betting against one another not the platform, so BetOnFinance.com has no conflict of interest to skew results one way or another.
Fees, Pricing, and Deposit Methods
You can open an account for free on BetOnFinance, though you must make a minimum deposit of 20 Euros as mentioned above and there are no starter or annual fees. BetOnFinance.com runs on USD or EUR only. Additionally, BetOnFinance accepts payments via Visa, Visa Debit Cards, MasterCard, Visa Electron, or wire transfer.
Review Summary & Conclusions
BetOnFinance.com is a legit and regulated financial betting (finbet) site. This site has nothing to do with binary options or Forex trading, and should be viewed more as a form of entertainment and less as a way to trade the markets. Truthfully, when we tried it out we felt it was very exciting and super fun. We even ended up making a few dollars, and cashing out was super easy for a change.The robust FAQ section explains how typical horse race betting is combined with the stock markets on a single platform.
BetOnFinance is not an investment scam or get-rich-quick scheme. its a legit gambling site which is fully licensed and we have not heard any complaints about declined withdrawals, overcharging, or aggressive SPAM emails hammering your inbox. If you are looking for a diversion and a different way to have fun and possibly profit on stock market betting, you have come to the right place. As always, should you need more information please contact us via our Facebook group and subscribe to our YouTube Channel.