This post is the most complete review of binary.com available online so far. Binary.com is the pioneer binary options broker, it has been in business since the year 2000.
Apart from binary options, the broker offers a variety of financial instruments to trade including, Forex, CFDs (Contracts For Difference), Indices, and Stocks.
Currently, this platform boasts over 1 million registered users, processing up to 20 trades every second.
Binary.com provides a 24-hour brokerage service, even on weekends, accompanied by a well-designed user interface that caters to beginners while meeting the demands of advanced traders.
After reading this post, you would have known if this is the right broker for you or not, I have all the information you need, covered.
At the end of the post, I have a bonus for you on how to trade profitably.
Now, let’s begin!
Financial trading is very risky and can result in account losses and total account wipeout if proper risk management procedures are not adhered to. Only trade with money you can afford to lose.
I have written this post in the simplest format possible. Whether you are a newbie or an advanced trader, this post is for you, you will find it very easy to understand.
Below is a list of what I will cover, click on any of them to reveal its content
- Binary.com Overview
- Traded Instruments
- Restricted Countries
- Registration Process
- Licensing And Regulation
- Trading Platforms
- Trading Accounts
- Accepted Payment Methods
- Customer Support And User Interface
- Pros And Cons
Established in the year 2000, Binary.com is as old as the new millennium. Initially, it bore the name betonMarkets.com.
Binary.com is one of the oldest and respected names when you talk about binary options brokers. The company is owned and managed by Binary Group Ltd.
The trading platform allows its customers to trade binary options on stocks, cryptocurrencies, Forex and look-back options. Binary.com claims to have the most flexible pricing and a suite of products available for you to trade.
The company has earned an enviable reputation due to its high standards, supported by major awards from reputable bodies.
Binary.com is continuously growing in size with over 250 employees spread across its four offices in Malta, Malaysia, Dubai, and Paraguay.
With over a million registered traders, its active trader count peaked at 120,000 in 2019 and is projected to reach 175,000 this year.
This is binary.com in a nutshell, continue reading to unravel the unique features of this broker.
Traded Financial Instruments
The financial instruments available on binary.com are as follows
- Binary Options
In this market type, you chose the direction (upward/downward) that you think the price of an underlying asset will go within a particular time frame.
If your prediction goes the right way, you can earn a profit of up to 91% on binary.com, but you risk losing your entire invested amount if it fails.
Here, you buy, sell and exchange currency pairs in the global market. This market has no expiry time and you can opt-out at any time.
CFD is an agreement to exchange the difference in the value of a specific asset from the contract’s opening to its closing.”. If you are new to trading CFD, you might not understand this definition, so I will make it much easier for you by using an analogy:
Supposing James wants to buy a piece of property, hold it for a month and sell it afterwards no matter the market value. He might sell it at a profit if the value appreciated or at a loss if the value depreciated. To enter this trade, the piece of property might cost him $100,000.
An onlooker might want to participate in this trade but does not have $100,000. What he has is say $20.
How does he participate?
He can make a trade with his $20 in a CFD company stating that he believes the property will appreciate. If the property appreciates within the time frame, he should be paid his $20 + the increment proportional to the appreciation of the property. And if it depreciates he will lose the fraction of his $20 proportional to the depreciation.
This is basically what CFD is. You are not trading in the real market but the expected outcome
In April 2018, binary.com launched its look-back options. This type of trade allows you to “look back” on the life of a contract to determine your pay-out.
You may not grasp this definition but its very interesting. You can visit Binary.com to learn more about it
There are currently 58 assets available to trade on binary.com;
- 28 Currency Pairs including; AUD/JPY, EUR/AUD, GBP/JPY, AUD/USD, EUR/GBP, etc.
- 5 Commodities; Gold, Silver, Platinum, Palladium, and Oil.
- 12 Stock Indices including; Walls Street Index, US Index, Hong Kong Index, Japanese Index, Euro 50 Index, Dutch Index, etc.
- 9 Synthetic Indices including; Volatility 75 Index, Bull Market Index, Bear Market Index, Volatility 100 Index, etc.
Binary.com accepts users from all over the world except;
- Hong Kong
Registration is quite simple on binary.com, all you have to do is follow these 3 steps to own a real account;
- Provide your name and email address at sign up
- Verify your email using the link sent to the email address.
- Make your first deposit and begin to trade in the live market.
Licensing And Regulations
Four different regulatory agencies have registered and licensed Binary.com:
- For users in the EU, it operates as Binary Investment Ltd. It is regulated as a category 3 investment service provided by the Malta Financial Services Authority (MFSA)
- It operates as Binary (SVG) outside the EU, which is located in St Vincent And Grenadines and is regulated by Vanuatu Financial Services Commission (VSC)
- The Binary Virgin Islands located in Britain is regulated by the British Virgin Islands Financial Services Commission.
- Binary FX Ltd located in Malaysia is regulated by the Labuan Financial Services Authority.
Binary.com has two types of trading platforms
- The Beginner Platform
- Advanced Trading Platform
The Beginner Platform
This platform has four unique features;
- Deriv: A new platform that’s easy to use with upgraded features.
- Smart Trader: An easy to use binary options trading platform.
- Tick Trade Android App: This is an app for Smartphone users, to make trading accessible and easy for those who do not have the time to sit over a desktop.
- Desktop App: This is a desktop app where you can easily access all binary.com products and services.
This platform has 3 unique Features
- Meta Trader 5 (MT5): This platform is for CFDs and Forex Trading.
- Binary Web Trader: This interface is for advanced binary options trading
- Binary BOT: This is an auto-trading programming tool.
Below is a 2-minute video on how to trade on Binary.com
There are two main types of trading accounts offered by binary.com
- Demo Account: This is a virtual account where you can practice your trading skills with virtual money. The demo account is funded with $10,000 worth of virtual cash. Note that, you cannot withdraw any profit made from this account and it is replenishable in case you hit a zero balance.
- Real Account: With an initial deposit as low as $5 which is lower than most brokers, you are eligible to own a real account. The account grants you access to the beginner and advance trading platforms.
Deposit And Withdrawal Methods
Binary.com supports a wide range of payment methods. Depending on the one that’s available in your country, you are allowed to use the one that’s more convenient for you.
- Bank Wire/ Money Transfer: (Internet bank Transfer, Pay Trust)
- Credit/ Debit Card: (Visa, Master Card and Maestro)
- E-Wallet:(Perfect Money, Neteller, Skrill, Fasa Pay, Web Money..etc)
- Cryptocurrencies:(Bitcoin, Ethereum, Tether, and Litecoin)
Customer Support And User Interface.
The platform interface is one of the best I have seen so far, I noticed that the screen colors are well combined and helps to easily locate items on the screen. An average person can get familiar with it in a few minutes.
Its customer support is very efficient and the feedback system cannot be over-emphasized. You can contact the support team via email or by telephone.
This is further supported by an enormous language support of up to 9 languages;
Pros And Cons
Now, let’s see the ups and downs of binary.com
- Replenish able demo account.
- Enormous regulatory agencies.
- Low minimum deposit of $5.
- Variety of payment options.
- Efficient customer support.
- Mobile friendly.
- Variety of tradable assets.
- USA and Canada are not supported.
Frequently Asked Questions
Yes, this broker is safe for you, I will back this up with these following points;
The company has been in business since 2000 and is still a top trading platform in the industry.
It is regulated by 4 solid agencies, this can not be taken for granted.
Transparency is paramount with Binary.com, ensuring a clear understanding of the potential risks or profits you may encounter.
It has an excellent rating on Trust Pilot
This is an award-winning trading platform from reputable agencies due to its high standards.
Best Fixed Odds Broker Silver Award (2010) by Trade2Win
Best Fixed Odd Firm (2012) by Global Banking and Finance Review
EGR Operator Awards (2015) by EGR Operator Awards.
Best Binary Options Broker (2016) by 16th MENA Financial Forum & Expo.
Binary.com allows you to self-exclude or set limits on your trading activities, these are;
Limit on the amount you may trade over a particular time frame.
A limit on losses that may be incurred within a particular time frame.
Limit on the amount of time you will like to trade in a given online session.
A definite period during which you wish to exclude yourself from the platform.
Note that, after 24 hours all limits set can only be reversed after 6 months of trading.
Learn How To Trade
If you want to learn how to trade cryptocurrencies profitably, sign up for free on Afibie.
You can join our Telegram channel, where we hold live sessions and give trade signals.
In my humble opinion, binary.com still stands out as one of the best options brokers in the industry.
You need to sign up to have a firsthand experience for yourself. Also, know that trading is very risky and no profit is assured; always invest with an amount you can afford to lose.
I hope this article was helpful to you?
Do you have any experience with binary options or Forex trading?
Leave your comments down below, or don’t forget to mention anything you feel I omitted in this post.
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