Broker Name: Binary.com
Platform: Deriv, SmartTrader, MetaTrader 5, WebTrader
Return/Refund: up to 92% *Return and 0 to 10% Refund (Amount to be credited to account for a successful trade)
Countries Not Accepted: USA, Canada, Hong Kong, and Japan
Number of Assets: 58
Regulated: Yes, Licensed
Demo Account: Yes
Deposit Options:Credit Cards, Bank Transfer, Neteller, FasaPay, Skrill, Qiwi, WebMoney, Perfect Money, PaySafeCard, Jeton, iWallet, SticPay
Language: English, Italian, Spanish, Russian, French, Portuguese, Dutch, Chinese, Indonesian, Korean
Minimum Deposit: $5
BINARY.com TRADING PLATFORMS
In order to cater to the needs of both beginners and advanced traders, Binary.com has several different trading platforms you can choose from.
For beginners, you have the option of using their Deriv platform or SmartTrader. Both of these platforms are custom-built and specifically designed for binary options trading in a simple and easy-to-use interface. With both Deriv and SmartTrader, you have several different trade types to choose from including:
- Touch/No Touch
A nice feature that Binary.com has is the ability to set your own expiry time, ranging anywhere from 1 day up to 1 year.
For the advanced trader, you can choose between MetaTrader 5 and Binary WebTrader.
MetaTrader 5 is a multi-asset trading platform that is recognized as the global standard. With MetaTrader 5, you can trade FX, CFDs, and Binary Options with 1 powerful platform.
Binary WebTrader is an advanced binary options trading interface that allows you to monitor the movements of your favorite assets and markets simultaneously. With it’s full-screen interface, you can arrange all of your essential charts, asset index, historical data, and market movements however you see fit. This platform is available in 13 different languages as well.
Binary.com also has an auto-trading tool (Binary Bot) that allows you to automate your trading strategies using a simple drad-and-drop bot creation tool.
This tool lets you create a trading app using a drag-and-drop function that Binary.com compares to completing a jigsaw puzzle. You can use this tool to create as many binary options trading bots as you want, making the algorithms incredibly complex or sticking to simple formulas. In addition to creating bots for your own use, you can make an additional profit by selling your bots in the Binary.com Shop to other traders. Every time a trader buys your bot, you get 80 percent of the sales revenue.
When you begin trading, you will notice that the trading screen lets you customize your position completely. At the top of this section, you will see a drop-down menu that lets you select your market, with a drop-down menu for the type of trade just to the right of this and a mini chart with the value to the right of that.
Below those features, you will notice the form that you fill out to trade. The top line lets you select your duration, filling in the value and using a drop-down menu to adjust whether that is in days or another measure of time. Right below this is a spot to fill out your high barrier, with a space for the low barrier directly below it. Underneath that, you can choose your payout, including the currency and number of units.
Binary.com includes two-way pricing. This means that if you adjust any parameters for your trade, the trade price will change instantly. This lets you see your stake in real-time and lets Binary.com continue its goal of delivering transparent pricing by displaying both sides of a trade. When you are ready to make a trade, click “Purchase.”
As soon as you do, your trade will appear in your account, with the price updating in real-time. Your account details the specifics of the trade and when you made the contract, as well as the purchase price and latest price. You can also click “View” to view the current trades in more detail. Remember that it is possible to sell a contract before expiry to keep profits or minimize losses.
Binary.com offers a mobile trading app called Binary Tick Trade, which allows you to trade binary options on the go. With the mobile app, you can execute trades, check your account status, and deposit funds just like you can with their web platform. The Binary Tick Trade app is available for iOS and Android. You can download this application from the Apple Store or from the Google Playstore.
We will start things off with a look at the available account types. There are actually only two Binary.com account types available – the demo account and the real account. We believe that the fact you have only one live trading account is an excellent and a very trader-friendly choice by the broker because it doesn’t leave any features hidden behind a paywall. In other words, you don’t have to make a bigger deposit to make a thing like higher leverage available to you. Even playing field for everyone.
It should also be mentioned that opening an account with Binary.com is very easy, as you can use your Facebook and Google profiles to set everything up if you so desire. A few clicks is all you need. But that’s just the beginning of great things this Binary.com Review has in store for you, so don’t go away.
You can open a live trading account with Binary.com with an initial investment as low as $5, which is quite a bit lower than most binary options brokers. A real account gives you access to the beginner platforms, the advanced platforms (including MetaTrader 5), as well as their mobile app for on-the-go trading.
BINARY.com DEMO ACCOUNT
Binary.com offers a free demo account where you can practice trading with virtual money. This allows you to sharpen your trading skills and test new strategies without risking real money. Demo accounts are funded with $10,000 in virtual funds for you to practice with.
№ OF ASSETS AND EXPIRY TIME
Binary.com has 58 different assets to trade including stocks, commodities, currency pairs, and indices. This broker doesn’t offer as many assets to trade as other brokers, but it’s still enough for most traders.
- Commodities – Gold, Palladium, Platinum, Silver, and Oil
- Currency Pairs – All the major pairs including EUR/USD, GBP/USD, EUR/CAD, AUD/JPY, USD/CHF, and many more.
- Indices – Hong Kong Index, Euro 50 Index, UK Index, US Index, Wall Street Index, and more.
- Synthetic Indices – Volatility 10 Index, Volatility 75 Index, Bear Market Index, Bull Market Index, and more.
Binary Options – Binary options are the simplest type of contract you can trade on Binary.com This type of option trading offers a fixed payout based on a simple yes or no proposition.
Lookbacks – A lookback is a type of trading contract that has a payout that depends on the optimum low or high achieved by the market. This type of option allows you to “look back” over time to determine the payout.
CFDs – A CFD (Contract For Difference) is a type of financial derivative that allows you to trade on the movement of an underlying asset without actually owning the asset itself. CFDs are a complex financial instrument and it does carry a high level of risk due to its leverage.
For your convenience, the Binary.com website is available in 9 different languages including English, Spanish, French, Polish, Chinese, and Italian. As for customer support, you can use their contact form to request help by email or you can call their toll free phone number (+44 800 011 9847). Unfortunately, the Binary.com customer service team does not offer live chat support, which is a disadvantage for some.
Deposit and Payment
Binary.com offers a variety of payment methods to add money to your account.
For bank transfers, the minimum deposit and withdrawal amount is $500. The maximum deposit and withdrawal amount is $100,000. The currencies accepted include USD, GBP, EUR, and AUD. The processing time for standard bank transfers is 1 working day. If you’re using an Internet Bank Transfer, deposits can take as little as 15 minutes. If you’re using PayTrust, deposits are instant.
For credit and debit cards, Binary.com accepts Visa, Mastercard, and Maestro. The currencies accepted for credit cards include USD, GBP, EUR, and AUD. The minimum deposit and withdrawal amount is $10, while the maximum deposit and withdrawal amount is $10,000. Deposits are processed instantly and withdrawals can take up to 1 working day. It should be noted that Mastercard and Maestro withdrawals are only available for UK clients.
Binary.com accepts all major E-Wallets including Fasapay, Perfect Money, Skrill, Neteller, WebMoney, QIWI, Paysafe Card, Jeton, iWallet, STICPAY, and Airtm. The minimum deposit and withdrawal using E-Wallets is $5, but the maximum amount will vary depending on which e-wallet you use. With E-wallets, your deposits are instant and the withdrawal processing time is $1.
Binary.com accepts several different cryptocurrencies as a form of payment including ETH (Ethereum), LTC (Litecoin), UST (Tether), and BTC (Bitcoin).
Sharp Prices – Binary.com’s patented pricing technology gives you the same return rates as traders in the interbank market. No hidden fees or commissions.
Flexible Trades – With Binary.com you have a lot of flexibility with your trades. You have a variety of trade types, the ability to choose your own expiry time, and the option to select your own payout from $1 to $50,00.
Controlled risk – If you use Binary.com as a broker, you’ll understand the risk and reward of each trade before you purchase a contract. You have the ability to sell your option before expiry to keep any profit you’ve earned or to minimize your loss.
Safety and Security – Binary.com has been a trusted broker since they originally launched their platform in 2000. They are licensed and regulated by multiple agencies including the Malta Financial Services Authority, Vanuatu Financial Services Commission, British Virgin Islands Financial Services, and Labuan Financial Services Authority. All funds deposited are segregated into separate bank accounts to keep your money safe and secure.
Reputation – Binary.com has over 2 billion dollars worth of trades to date. They’ve won numerous awards throughout the years including:
Education for New Traders
The section on lookbacks includes a definition and a description with examples of the three types of lookbacks that Binary.com offers. The section for MetaTrader 5 has much more information as it includes sections for every type of trade that you can do using the platform, including binary options, CFDs and forex. For each forex, cryptocurrencies, CFDs, and metals, you can view what trading that asset is, how to trade it, the margin policy for that asset, and the contract specifications for it. There is then a section on binary options with MT5, including an introduction and how to trade those binary options on the platform.
Binary.com provides a daily report with relevant news from around the world, specific information on the recent movements of the most popular currency pairs, upcoming events for the day that may affect trading, and a trade idea. The broker also offers a weekly market update and weekly trading signals, the latter of which appears via videos from a professional trader and charting expert.
If you visit Binary.com’s Academy on its website, you will find additional educational tools and resources. In the Videos section, you can view various video tutorials and webinar videos, with topics like “Introduction to the MetaTrader 5,” “Purchasing from the marketplace,” and “MetaTrader 5 for Android/iOS.” There are also videos there that show you how to use Binary.com. This page also includes links to the videos for Binary TV, the Commodities Corner (the archives), the webinars, and the weekly trading signals.
PROS AND CONS
IS BINARY.com A SCAM?
Since Binary.com is regulated and licensed in multiple jurisdictions, it must comply with a high level of standards that provide protection of client funds and personal information. Additionally, Binary.com segregates client funds, keeping them secure in licensed financial institutions. All credit card details go directly to the Visa or Mastercard network with the latest version of SSL encryption, following bank policies.
Binary.com additionally offers various account security suggestions for clients, including enabling two-factor authentication, setting a cashier lock password, using Cloudflare DNS, setting a strong password, keeping your browser up to date, using antivirus software, monitoring recent logins, and never sharing account information.
Binary.com also clearly outlines its policy for security and privacy, including its compliance with the general data protection regulation and other data protection laws that are applicable. Binary.com uses personal information to validate clients as legitimate account owners and the proper recipient for withdrawal payments, as well as processing trades. All personal information is held with due diligence, only processing it for required or allowed purposes according to the law.