Binary Broker Review
|Regulated by:||UK Gambling Commission, Malta Financial Services Authority, Malta Gaming Authority and Revenue Commissioners Ireland|
Trading ProductsBinary Options
Minimum Deposit€ 5
Binary.com is an online global binary trading broker that has been in business since 1999. Traders from all over the world can trade binary options on currencies, commodities, indices and stocks and the company currently boasts of more than a million registered accounts. The site supports multiple languages, including Chinese, Japanese, Thai, Spanish, French, Italian and Russian.
The Binary Group is regulated and licensed in the UK, Malta, Japan and the Isle of Man. To ensure the security of its clients’ funds, they are kept in segregated accounts with licensed financial institutions.
Binary.com makes trading binary options easy and profitable through its user-friendly trading platform. There are no commissions and hidden fees when you make trades, and you can more than double your returns on basic rise/fall binary options contracts. For more advanced touch/no touch and higher/lower trades, you can see returns exceeding one thousand percent. But your risk of loss is limited since you will never lose more than your initial stake.
The company has been honored with many awards that testify to its high status in the industry. In 2017, the online Personal Wealth Awards gave Binary.com its Best Binary Options Broker Award, which was voted on by investors from all over the world.
Binary.com Pros and Cons
- You can design your own binary options contract to profit from your predictions as to where the market goes. The trading platform allows you to choose which market to trade in, the amount of the payout, the strike, and the duration of the contract.
- You can moderate your potential losses in case you think your prediction is wrong. You have the right to sell the binary options contract before it expires to lock in profits or minimize losses. Trades are sold back at market rates.
- The user-friendly platform allows you to easily manage your trades. It allows you to monitor a variety of markets, with access to real-time price data. Charting software lets you analyze prices to locate trading opportunities. Once you’ve created a trade, you can execute it in a matter of seconds.
- Access to a demo account. You don’t have to risk your trading capital while learning how to trade binary options since you can use the demo account to practice using virtual money.
- At present, the site does not accept US traders, although this may change in the future.
- There are currently no bonuses or other promotions available.
Account Information and What to Expect
Opening an account at binary.com is a simple process that takes just a few minutes. You are only required to provide some basic personal information during the registration process. Once you have an account, you can choose the account type that best meets your trading requirements. There are four account types, each with its own features that are designed to meet the particular needs of traders with various experience levels. The currency accepted is US dollars.
The Cent account offers up to 1:1000 leverage, which allows you to start trading with a minimum amount of capital. The maximum number of lots you can trade is 20 and the spread charged is fixed.
The Standard account is designed to meet the needs of traders with varying experience levels. It offers up to 1:300 leverage and allows you to trade up to 50 lots. Spreads are variable and computed based on current market conditions.
The STP account offers a maximum 1:100 leverage and connects traders directly to the broker’s liquidity providers. You can trade up to 100 lots.
Traders can also opt to trade contracts for differences (CFDs) on Volatility Indices using the Volatility account, which provides a maximum 1:500 leverage.
Trading Platforms Offered by Binary.com
Binary.com offers an assortment of trading platforms designed to help traders succeed in trading binary options. The basic trading platform is user-friendly, with an interface that is easy to learn. All the basic functions are readily accessible on the main screen. Tabs located underneath the main platform screen allow traders to access daily and intraday price data, and even display percentage changes beside the main price quotes.
But the one feature that serious traders will appreciate is the charting tool. Aside from being able to generate different types of charts, traders can also select various ways to display them, including legacy, pop-up and interactive charts.
The Binary Webtrader is an advanced platform with advanced functionality. You can monitor asset prices as well as your favorite markets simultaneously, as well as view important charts, historical price data and asset indices. But what makes it stand out is that it allows traders a full range of customization options based on their own preferences. You can load what you want to see on the screen as well as arrange them in the order that you see fit. The platform supports 13 languages and is accessible from any browser.
There are also two trading apps that you can load on your mobile devices so that you can trade binary options while on the go. The Binary Tick app is available from Google Play while the more advanced Binary Next-Gen app is available for both mobile and web devices.
In addition, there are two invaluable tools that you should consider adding to your toolbox. They are available for free from the Binary.com shop
The Binary Bot is a programming tool that allows you to create your own auto-trader. Auto-traders, also known as “bots”, automatically implement your trading strategies when certain market conditions are met. The tool uses a drag-and-drop interface that is easy to learn and use, and requires no knowledge of programming. You can also sign up for a virtual account so that you can test your strategies without having to risk real money. You can even sell them at the shop to earn extra revenue.
Trading View is a technical analysis and charting tool. Technical analysis is one of the basic methods used by traders to analyze price data. The data is charted to make it easier to identify trends so that the trader can more easily determine the direction prices are going. This makes it more likely that the trader will be able to make winning wagers when trading binary options. Trading View offers a full range of price bands, overlays and indicators, and provides a fully customizable workspace.
Mobile Trading Platforms – Binary Has It All!
Binary.com enables mobile trading through its apps, which are available on Google Play. You can enjoy ultra-fast trading so you’ll never miss an opportunity to make a profit, as well as a range of advanced trading features.
Trading Options Offered by Binary.com
Binary.com specializes in binary options trading. Binary options are a way for traders to make money from the price fluctuations of various assets without having to buy the assets themselves. An option is a contract that gives the holder the right but not the obligation to buy or sell a particular asset. It has a predetermined “strike” price and an expiry time/date. Expiry periods range from as short as ten seconds to as long as 365 days. Binary options get their name from the fact that the trader only has two options to choose from when the buy an option.
The trader simply has to purchase an option based on whether he believes a certain condition will be met by the time the contract expires. For instance, in a higher/lower option, the trader will buy a “call” option if he believes the market price of the underlying asset will go higher than the strike price; if lower, he buys a “put” option. He earns a fixed payout if he guesses correctly; otherwise, he loses the amount it cost to buy the option. Payouts range from $1 to $50,000.
The various types of binary options available include:
- Rise/Fall – in this option, the current price of the asset is used as the strike price. The trader earns a payout based on whether the price goes above or below the current price.
- Touch/No Touch – the trader earns a payout based on whether or not the market price of the asset touches or does not touch the strike price before the option expires.
- Ends In/Out – this option is also known as a boundary option since a price range is determined rather than a strike price. The trader earns a payout based on whether or not the asset price will remain within the range or go out of it by the time the option expires, depending on the bet he made.
- Stays In/Goes Out – this option is similar to the one above, but the trader receives a payout if the asset price remains within the range during the life of the option or leaves it, depending on his wager.
- Asians – in this binary option type, the trader has two choices. He earns a payout based on whether the asset price is higher or lower than the average price when the option expires.
- Digits – the trader has to guess the last digit of the decimal of the asset price. You can choose from Over/Under, Matches/Differs and Even/Odd.
The assets that you can make wagers on include:
Currencies: You can take out binary options on the major and minor currency pairs as well as currency indices. An index measures the value of a particular currency measured against a selection of other currencies.
Indices: This asset class represents indices of stock exchanges from all over the world, such as the Hong Kong Index, Dubai Index and US Index. You can also take out binary options on OTC (over the counter) markets, such as the Wall Street OTC Index, Japanese OTC Index and Australian OTC Index.
OTC Stocks: This asset class includes some of the biggest stocks issued by the largest corporations from all over the world. US stocks represented include Amazon, Procter & Gamble and McDonald’s, while German stocks include Airbus, Deutsche Bank and BMW.
Commodities: The assets represented are divided into two categories – energy and metals. Commodities include gold, silver and oil, which are valued in US dollars.
Volatility indices: These indices measure expectations by the markets of volatility based on the prices of options. The volatility is expressed as a percentage. There are two categories in this asset class – daily reset and continuous indices.
Bonuses for New Traders
At present, unfortunately, there are no welcome bonuses available for new traders who sign up with Binary.com, due to legal restrictions in the countries where the broker is registered. But the advantages of a Binary.com account more than outweigh the lack of bonuses.
Is Binary.com a Scam?
This is a question that is asked about every online broker, and rightly so since there is no one centralized agency that oversees their operations and ensures that they are trustworthy and acting in the best interests of their clients. This is why any broker who agrees to voluntary regulation automatically gains the trust of traders everywhere. The various offices of the Binary Group are licensed in the country where they are registered, and are compliant with their regulations. This ensures that their operations are held to the highest ethical standards.
Binary.com Demo Account and VIP Programs
At present, unfortunately, Binary.com does not have a VIP program. This does not mean that they do not value the loyalty of their members, but rather it means that they are dedicated to ensuring that everybody who signs up with them gets the highest quality of service.
However, they do have a demo account and we highly recommend that you sign up for one. Each account comes with US$10,000 in virtual money. You can use this to make paper trades so that you can not only develop your trading skills but also become familiar with how to use the platform.
Deposit and Withdraw Your Funds
The accepted payment methods include:
- Bank and wire transfers. Deposits and withdrawals take one working day to process.
- Credit and debit cards. Visa, MasterCard and Unionpay cards are accepted. Deposits are instantly processed while withdrawals take one working day.
- E-cash. These include Paysafe, Neteller and Skrill. Deposits are instant while withdrawals generally are processed within one working day.
The site now also accepts cryptocurrencies such as Bitcoin, Litecoin and Ethereum to make deposits and withdrawals.
You can contact Binary.com customer service by using the telephone numbers in various countries, as well as by email. Company addresses are also available for their offices in Japan, Malaysia (Kuala Lumpur and Cyberjaya), Isle of Man and Malta.
The site offers traders a variety of educational resources through its Binary.com Academy. You are entitled to access free e-books and webinars, as well as trading tools like daily news reports and trading charts.
Binary.com is one of the pioneers in the online binary options industry and has earned the trust of its clients by consistently providing them with outstanding service. But it has not rested on its laurels as it continues to try and improve its offerings. Thus, it should not be surprising that its client base has grown almost five-fold from 2013 to 2017. Over the same period, client withdrawals have also grown more than eight-fold, since projections for 2017 have placed the total at almost US$120 million.
Its main selling point is that it makes trading binary options accessible to traders of all skill levels, giving them the opportunity to make money from the markets without the difficulties of actually having to trade the underlying assets. And it is registered and licensed, which gives their clients peace of mind since they know that Binary.com is not a scam.
Support+44 (0) 1666 800042
Contact MethodsEmail and Phone
Support LanguagesEnglish, Russian, Polish, Indonesian
Account CurrenciesThis broker accepts all currencies. The major one is USD.
Available for US TradersNo
Minimum Deposit5 euro
Minimum TradeTraders are starting from 1 USD
DEMO accountAvailable for users holding a regular account
Deposit OptionsBank Transfer, Internet Bank Transfer, Visa, Master Card, Union Pay, OK Pay, FastPay, Perfect Money, Skrill, Neteller, Moneta.Ru, WebMoney, Qiwi, Dengi, PaySafe Card, Bitcoin, Bitcoin Cash, Litecoin and Ethereum.
Withdrawal OptionsSame as the ones listed above except Dengi and Union Pay.
PlatformBinary.com Regular Platform, MetaTrader 5, Binary Webtrader, Binary Trick Trade App (for smartphones), Binary Bot and Tradingview.
Market UpdatesYes, Daily Markets Report.
Trading with products promoted on Binaly.com is highly speculative and carries a high level of risk.