Binary.com Review
Binary.com is one of the oldest and most trusted brands in the world of CFD trading, forex, and binary options. Their trading platforms allow you to trade in the world's financial markets with a variety of financial instruments including binary options, forex, cryptocurrencies, CFDs, and metals.
But is Binary.com a legit broker and can they be trusted? Or is it all just a scam? Continue reading this Binary.com review to find out the truth about this company.
But is Binary.com a legit broker and can they be trusted? Or is it all just a scam? Continue reading this Binary.com review to find out the truth about this company.
Broker Name:
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Binary.com
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Location:
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Malta
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Regulation:
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MFSA, VFSC, BVI Financial Services Commission, Labuan FSA.
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Minimum Deposit:
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$5
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Minimum Trade:
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$1
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Trade Platform:
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Deriv, SmartTrader, MetaTrader 5, WebTrader.
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Mobile Apps:
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iOS and Android
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Demo Account:
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Yes ($10,000 in Practice Money)
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Assets:
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Binary Options, CFDs, Commodities, Forex, Indices, and Cryptocurrencies.
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Countries Not Accepted:
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USA and Canada.
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Deposit Methods:
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Credit Cards, Bank Transfer, Neteller, FasaPay, Skrill, Qiwi, WebMoney, Perfect Money, PaySafeCard, Jeton, iWallet, SticPay
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Withdrawals:
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24-Hour Processing
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Learn More:
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Binary.com Trading Platforms
Binary.com offers beginner and advanced traders a variety of different trading platforms to choose from. Each trading platform has it's own strengths that assist in a variety of different trading strategies.
Deriv
Deriv is an easy-to-use platform that is rich with features. It's ideal for beginners. Simply select your asset, choose your trade type, choose your expiry time, your stake, and which market you think the direction will go. The following trade types area available on the Deriv platform: Rise/Fall, Higher/Lower, and Touch/No Touch.
SmartTrader
SmartTrader is a web-based platform that allows you to trade in the world's financial markets. Unlike other brokers that use SpotOption or other 3rd party platforms, Binary.com uses a custom-built interface that makes trading binary options as simple and user-friendly as possible. SmartTrader is an ideal option for beginner traders.
WebTrader
WebTrader is an advanced trading platform that can be fully customized to your personal preferences. This full-screen interface allows you to arrange your charts, asset index, historical data, and other resources however you like. This trading platform is very intuitive and has a lot of advanced functionality that makes it more suitable for intermediate and advanced users.
MetaTrader 5
MetaTrader 5 is an advanced multi-asset trading platform that allows you to trade Forex, CFDs, and binary options. This powerful platform is recognized as the global standard for traders worldwide. MetaTrader 5 comes equipped with a variety of technical analysis tools as well as the ability to use automated trading robots and copy trading. Metatrader is available for Windows, Mac OS, Linux, Iphones, and Android.
Mobile Trading
Binary.com facilitates the need of its on-the-go user by offering them two different mobile-based trading apps to have an uninterrupted access to the market. The ultra-fast mobile trading apps help clients to never miss any trading opportunity without compromising the freedom of mobility.
Binary Grid - Binary Grid is a mobile trading app that is available for Android. Features include 24/7 trading, multiple contracts at a time, practice accounts, and a $1 minimum trade amount.
Tick Trade App - The Binary.com Tick Trade App offers a fast-paced trading environment with nearly instant win-loss results. You can easily place tick trades anywhere, at any time - even while on the move. You can set the pace of the trade to anywhere from 5 to 10 ticks.
Binary Grid - Binary Grid is a mobile trading app that is available for Android. Features include 24/7 trading, multiple contracts at a time, practice accounts, and a $1 minimum trade amount.
Tick Trade App - The Binary.com Tick Trade App offers a fast-paced trading environment with nearly instant win-loss results. You can easily place tick trades anywhere, at any time - even while on the move. You can set the pace of the trade to anywhere from 5 to 10 ticks.
Assets
With Binary.com, you have 79 financial instruments to choose from including:
- Binary Options - Option contracts with a fixed payout based on a simple yes/no proposition.
- Forex - Major, minor, and exotic currency pairs.
- Crypto - Cryptocurrency pairs including Ethereum, Litecoin, Bitcoin, and more.
- CFDs - Trade the movement of underlying assets with financial derivatives.
- Metals - Precious metal pairs including silver, gold, and platinum.
- Lookbacks - Option contracts that allow you to "look back" on the optimum high or low achieved by the market to determine the payout.
Key Features
Sharp Prices
Binary.com has a patented pricing technology that ensures that you’ll never pay more than you should. Enjoy the same rates as traders from the interbank market.
- Real-time prices that are benchmarked against interbank option markets.
- Payouts above 1000% on touch/no-touch trades and higher/lower contracts.
- No commissions or hidden charges.
- Payouts above 100% on simple rise/fall trades.
Flexible Trade Options
No matter what type of trading strategy you have, Binary.com makes it simple and easy to profit from your market predictions.
- Choose your own payout up to $50,000.
- Choose your own expiry time, from 10 seconds to 365 days.
- Choose your own strike price.
Risk Management
Binary.com clearly displays your risk and reward before every trade contract is purchased. So you’ll know exactly how much profit you can stand to gain if your prediction is correct.
- Once you choose a payout, the Binary.com platform will calculate the stake required to purchase the trade contract.
- Your stake will never increase, as only your initial stake is at risk.
- com also gives you the option to sell your option contract before the expiry time to keep any profit you have made. You can also sell your contract early to minimize your loss as well.
Account Types
Binary.com offers two types of accounts only including real account and demo account.
Demo Account
The demo account offered by Binary.com comes preloaded with $10,000 in virtual cash. By using a demo account, traders can practice different trading strategies or test out the Binary.com trading platform without having to risk any real money.
Real Account
Once you’re confident enough to begin trading with real money on Binary.com’s platform, you can open a real account for free. To get started trading their financial instruments, only a $5 minimum deposit is required. This is easily one of the lowest minimum deposits required by any binary options broker, as most companies have a $200-250 minimum deposit.
Education
The “Getting Started” section on the Binary.com website has a wealth of information that is perfect for beginners and novice traders. You’ll learn everything you need to know including:
- How to trade binary options
- How to trade forex currency pairs
- How to trade cryptocurrencies
- How to trade CFDs
- How to trade metals
- How to trade with the MetaTrader 5 platform
Deposit Methods
Binary.com offers a wide variety of payment and deposit methods for your convenience. These options include:
- Bank Transfers
- Credit and Debit Cards Including Visa and Mastercard
- E-Wallets: FasaPay, Perfect Money, Skrill Moneybookers, Neteller, WebMoney, PaySafe Card
- Cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin
- All deposits are processed by Binary.com within 24 hours. The minimum deposit required is $5.
Withdrawals
The same payment options that are available for deposits are also available for withdrawals. It typically takes between 1-5 days for withdrawal requests to be processed, depending on the payment method chosen.
Regulation and Security
With over 1,00,000 customers across the globe, Binary.com is licensed and regulated to ensure financial stability and ethical business practices. They hold multiple regulatory licenses by:
- Malta Financial Services Authority (License No. IS/70156).
- Vanuatu Financial Services Commission
- British Virgin Islands Financial Services
- Labuan Financial Services Authority (License No. MB/18/0024)
To ensure maximum safety of clients’ funds, the broker holds them in segregated bank accounts. Personal data protection is done using SLL encrypted HTTP Web protocols at Binary.com.
Customer Service
Binary.com provides 24/7 customer support to its clients. The company can be contacted via different mediums including a telephone line, and email. Clients who prefer to talking company’s officials over the telephone may call toll free number 0800 011 9847. Queries can also be directed to the support department of the broker at support@binary.com. Unfortunately, Binary.com doesn’t offer live web chat at the moment.
Pros
- $5 Minimum Deposit
- Regulated and Licensed by Multiple Regulatory Agencies
- Web and Mobile Trading Available
- Has Been In Business Since 1999
- Demo Accounts Available With $10,000 in Virtual Money
- Convenient Payment and Withdrawal Options
- Flexible Trade Options Allow You To Choose Your Own Payout, Strike, and Expiry Time
- Excellent Payouts and Profit on Successful Trades
- Binary Option Bot Allows You To Create Your Own Automated Trading Strategies
Cons
- No Live Customer Support Chat Available
- Traders Aren’t Allowed From United States, Hong Kong, or Costa Rica
Is Binary.com a Scam?
Binary.com is definitely not a scam. In fact, they are one of the most reputable and trustworthy brands in the binary options industry. They have multiple regulatory licenses to ensure ethical business practices as well as separating clients’ funds into segregated bank accounts. While many other binary option brokers have closed down for various reasons over the years, Binary.com has been running successfully since 1999.
Binary.com is perfect for both beginner and advanced traders. Their custom-built platform makes it simple and easy to execute trades on over 100+ different financial instruments. For the more advanced traders, you’ll enjoy the flexibility that the MetaTrader 5 platform provides.
If you’re looking for a reliable binary options broker and a great trading platform, you can’t go wrong with Binary.com
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