Binary.com Review - Happy Traders Since 1999
Video Binary.com Review
Binary.com is one of oldest binary options brokers around. It has been in existence since 1999 (initially under the trade name Regent Marketers Group up till 2014) and has bagged an array of awards including best binary options broker at the Personal Wealth Awards (2017), MENA FFXPO (2016) and the EGR operator award (2015) hosted in London. They have a reported customer base of over 1 million customers and the capability to process the same number of transactions in a day. They have set up office in Malta, Malaysia and Japan to efficiently serve their customers who live around these regions.
Their ability to offer a variety of markets for their customers has made them one of the most highly sought after brokers. We shall cover this variety of trading options below.
Binary.com has evolved in leaps and bounds. They offer a variety of platforms and they were one of the pioneers in the area of offering their clients a trading platform that was web-based. This means while other brokers were asking their clients to download and install the trading interface, Binary.com made it possible for their customers to log in from anywhere and trade! The web interface consists of a web page that can accommodate a number of trading windows which can be accessed by selecting trading instruments which are available from the ‘trade’ and ‘chart’ menus as visible from the screenshot above. The web interface is very simple and intuitive therefore easy to use even for beginners. On the other hand, the platform has a large variety of charting tools and technical indicators that make it favourite even among experienced traders. They have another web trading interface that has a more corporate look to it that is mostly preferred by institutions.
They also offer MetaTrader 5 for Windows, Linux and MacOS users for those users who wish to install the software on their computers. Binary.com recently unveiled two new platforms; that is the Binary bot which is an auto-trading programming tool that allows client to develop their own trading robots. The other platform is called the Binary.com shop that is basically a marketplace that allows people to buy and sell Binary.com products.
As we mentioned earlier, their platform offers five basic trading options for binary options which are:
- Up/Down- Also known as rise/fall is whereby you determine the direction which the market will follow within a period then you choose the instrument and stake.
- Touch/No Touch- Whereby you choose whether or not a certain instrument will touch a specified price within a certain period of time.
- In/Out – In this case you choose whether or not the price of an instrument stays in/out a pre-specified range of prices or within a certain time period. You can also choose to predict whether the price of an instrument will end in/out a pre-specified price range within a period of time.
- Asians- Also called an Asian rise/fall allows you to profit if the price of the selected instrument ends above or below the average price within a certain period.
- Digits – This is a more specific option where you predict the last decimal digit of the price of a certain market instrument after some time
Binary.com has a trading application available on the Google Play store for android customers and another one available on iTunes for customers who have Apple mobile devices.
The platform is limited in term of the number of currencies it supports. Also bank transfers are relatively costly at $25 per transaction.
Account types and Asset index
Binary.com offers demo accounts for those who are new to the world of trading binary options or those experienced traders who might be practicing their trading strategies. In this account you don’t need to deposit real cash and you also don’t get to withdraw your winnings. The other account type offered if the real/live account that requires you to first deposit some money so that you can trade. Here you stand a chance to make or lose real money as you trade in the different market types we have discussed above.
Their asset index consists of over 30 currency pairs (including majors and minors) as over 20 indices, five commodities and 50+ OTC stocks. Examples include EUR/USD, AUD/JPY, GBP/CAD, USD/NOK, EUR, AUD, GBP,USD indices, gold, silver, oil and OTC stocks worldwide such as Facebook, BMW, Bharti Airtel, Alibaba and Microsoft.
Deposits and withdrawals
This broker has availed one of the largest varieties of payment methods. This is a big advantage to them because by doing this, they have made their platform convenient for millions of customers worldwide. Their major payment methods include bank transfer, Western Union, Visa, MasterCard, UnionPay, OkPay, Skrill, Neteller, Qiwi and even bitcoin. The minimum deposit acceptable is $5 through mobile wallets and $10 via wire transfer. Withdrawals are typically processed within 24hours but additional time may be required by the bank to process the payment.
Binary.com is reachable through email and telephone depending on the country you are calling from. They have both toll and toll-free customer support lines in the UK, Australia, Canada, Indonesia, Ireland, Poland and Russia that are available on their ‘contact us’ page on their website. The email addresses provided are specific for those who have payment-related inquiries and those who have general inquiries. They encourage customers to send them feedback so that they can know where to improve on their service.
They not only offer support to inquiries but also provide technical support to their customers. This includes an academy which is basically a learning centre that is equipped with basic information about binary options all the way to comprehensive articles about how to best maximize the Binary.com platform. They publish a variety of articles on a wide array of topics traders may need to know about while trading.
Binary.com is licensed to operate in the United Kingdom, Malta, Japan and the Isle of Man. It assures its investors that the company is debt free therefore it has no cash-flow issues and their customers’ money is safely withheld by AAA-rated banking institutions that maintain the security and liquidity levels stipulated by the law. In a bid to avoid being used for money laundering scandals, they have made sure that they operate within the confined of the law such that when a customer choses a payment method, it must be consistent for both deposits and withdrawals. They have included an elaborate set of terms and conditions and clearly outlined what it means to be a responsible trader. This includes filtering controls and underage gambling. They have a comprehensive conflict resolution procedure that allows for smooth litigation in the event of disagreements. For these reasons, we find that Binary.com is not a scam.
Pros & Cons Binary.com
- This awad-winning broker has been in existence since 1999, it comes with a long history and many awards.
- They have a huge selection of trading types across binary
- An excellent platform which is user friendly and intuitive.
- Withdrawals are costly at $25 per transaction
Conclusion about Binary.com
Binary.com definitely offers great value for your money. Their huge variety of markets and trading options is unmatched and this coupled with their regulation by reputable authorities worldwide has attracted lots of customers. Having been in this industry for over 10 years means that they have been able to develop and fine-tune their services year after year. With their recent innovative efforts, we are sure that they will continue to grow their business in the years to come.