Binary.com Review

4/5 - (6 votes)

InformationDetails
BrokerBinary.com (Now Deriv.com)
Company NameBinary (IOM) Ltd. and Binary (Europe) Ltd.
HeadquartersIsle of Man (British Isles) and Malta
RegulationLicensed by Malta Gaming Authority, Gambling Supervision Commission (Isle of Man), UK Gambling Commission
US Traders AcceptedNo
Max PayoutNot fixed
Bonus$500 match bonus
Trading PlatformBinary.com, MetaTrader 5, Ladders
Trading appAvailable for mobile
Demo AccountYes, free account with $10,000 virtual money
Early ClosureSupported
Deposit OptionsCredit/debit card, bank transfer, e-wallets, Bitcoin, Litecoin
Deposit CurrenciesUSD, EUR, GBP, AUD
Minimum Deposit$5
Minimum Trade$0.50
Maximum Trade$350,000
Online Since1999 (originally as BetOnMarkets)
Trading InstrumentsCurrencies, commodities, stocks, indices, sectors, randoms
Number of Trading Instruments173
Binary Option TypesRise/Fall, Higher/Lower, Touch/No Touch, In/Out, Asian contracts, Call/Put Spread, High/Low Ticks, Lookbacks, Reset Call/Put
Customer Support TypesPhone, live chat, email, web form
Tools OfferedCharts with indicators, pricing tables, self exclusion, flexible expiry times
AwardsBest Fixed-Odds Firm 2012, Best Binary Option Broker 2017
LanguagesEnglish, German, Russian, French, Portuguese, Chinese, Indonesian

Binary.com is a leading binary options broker known for its transparency, user-friendly interface, and a wide array of trading opportunities. Established in 1999 and initially known as BetOnMarkets, this platform has built a solid reputation in the trading community. It offers a regulated trading environment under the supervision of the Malta Gaming Authority and the Gambling Supervision Commission in the Isle of Man, ensuring that traders operate in a secure setting.

At Binary.com, users can access an impressive range of trading instruments, including currencies, commodities, stocks, and indices. The platform allows trading with various binary option types such as Rise/Fall, Higher/Lower, Touch/No Touch, and others. This versatility offers traders multiple ways to engage with the market, catering to both novices and experienced investors.

Another notable feature is the ability to open a demo account with virtual funds, providing an excellent opportunity for beginners to practice trading strategies without risking real money. Additionally, Binary.com supports a minimum deposit of only $5, allowing traders to start with a low investment while also accommodating those with larger capitals.

With comprehensive educational resources, trading tools, and customer support options, Binary.com aims to empower traders to make informed decisions. Overall, it stands out as a robust platform for anyone interested in binary options trading.

Binary.com Review: Advantages and Disadvantages

Advantages:

  • Offers a wide range of trading instruments including currencies, commodities, and stocks.
  • Allows a minimum deposit of just $5, making it accessible for beginner traders.
  • Supports numerous deposit options, including cryptocurrencies like Bitcoin and Litecoin.
  • Provides a demo account with $10,000 virtual money for risk-free practice.
  • Features flexible trading options with various expiry times from minutes to years.

Disadvantages:

  • Customer service issues reported, including unavailability of live chat.
  • Concerns regarding withdrawal processes and communication delays.
  • Some users claim the odds are not favorable against traders.
  • Regulatory oversight is limited to certain regions, with no acceptance of US traders.

In the vast landscape of online trading, Binary.com stands out as a prominent broker that provides users with a flexible and user-friendly platform for trading binary options and contracts for difference (CFDs). This review will explore the various features of Binary.com, including their offerings, regulations, trading tools, and customer support services. This article will serve as a comprehensive guide for anyone considering engaging with Binary.com, whether they are newcomers or seasoned traders.

Binary.com Overview

Binary.com is recognized as a reliable broker in the binary options trading arena. Established in 1999, this platform has undergone significant transformations, originally operating under the name BetOnMarkets until its rebranding in 2013. The broker is known for its regulatory compliance and transparent operations, making it a preferred option for traders around the world.

Regulatory Compliance

Binary.com operates under the strict regulations of the Malta Gaming Authority, holding a license number MGA/CL2/118/2000. Additionally, it is monitored by the Gambling Supervision Commission in the Isle of Man, as well as the UK Gambling Commission. This multi-tiered regulation assures traders of the broker’s commitment to safe practices and operational integrity.

Trading Instruments and Features

Binary.com provides a wide array of trading instruments, allowing users to explore various markets. The available trading assets include:

  • Currencies
  • Commodities
  • Stocks
  • Indices
  • Sectors
  • Randoms

With a total of 173 instruments, traders can diversify their portfolios according to their strategies. Binary.com offers various types of binary options, such as Rise/Fall, Higher/Lower, Touch/No Touch, and In/Out contracts, among several others.

Expanding Trade Features

One of the standout features of Binary.com is its flexibility in trade execution. Traders can engage in small trades with a minimum of just $0.50 or go as high as $350,000 for larger positions. This wide range caters to both casual traders and professionals looking for serious investment opportunities. The ability to trade without a minimum threshold and a low minimum deposit of $5 further enhances accessibility for new traders.

Expiry Times

Binary.com also offers an extensive selection of expiry times for its trades, from ultrashort options expiring within minutes to long-term contracts lasting over a year. This flexibility in expiry times allows traders to develop customized strategies that align with their trading preferences.

Trading Platforms

The trading platform of Binary.com is versatile and user-friendly, providing users with a seamless trading experience through various interfaces, including:

  • Binary.com Platform
  • MetaTrader 5
  • Ladders

The proprietary Binary.com platform is equipped with advanced features and tools that enhance the trading experience. MetaTrader 5 serves as a powerful analytics tool to trade volatility indexes and utilize automated trading strategies. Ladders is an innovative web-based platform that simplifies trading binary options with real-time analysis.

Deposits and Withdrawals

Binary.com prides itself on providing multiple options for deposits and withdrawals. Traders can deposit using various methods, including credit and debit cards, bank transfers, and popular e-wallet services. Additionally, the broker supports modern cryptocurrencies, such as Bitcoin and Litecoin, which broadens the spectrum of payment methods available.

The minimum deposit required to open an account is only $5, and there are no withdrawal fee charges. This makes Binary.com a highly accessible platform for retail investors looking to enter the market without big commitments. Furthermore, the option to open a demo account with $10,000 in virtual money allows users to practice trading strategies before venturing into real trades.

Currency Options

Binary.com supports trading in various currencies including USD, EUR, GBP, and AUD, which provides flexibility depending on the trader’s location and preferences.

Customer Support Services

Customer support is an integral aspect of any trading platform, and Binary.com offers several channels for traders to get assistance. Traders can reach out via:

  • Email
  • Web Form
  • Phone
  • Live Chat

While the platform claims to provide 24/7 live chat support, some users have reported difficulties in accessing this service, which raises concerns. However, the email support and web form options are reliable and often lead to prompt responses.

Education and Tools

Binary.com values the importance of education for its traders by offering a plethora of resources to enhance user knowledge. The site includes:

  • FAQs
  • Glossary
  • Tutorials

In addition to education, traders can utilize a variety of tools to assist in their trading decisions. These tools include chart indicators, pricing tables, and flexible expiry options. The “self-exclusion” option empowers traders to set personal limits on their trading activities, promoting responsible trading practices.

Responsible Trading

Binary.com advocates for responsible trading, directing users to supporting organizations, such as GamCare, to assist individuals facing gambling issues. This commitment to responsible trading indicates the broker’s dedication to customer well-being.

Promotions and Bonuses

The broker offers enticing promotional opportunities for new and existing traders. With a match bonus of up to $500, users are encouraged to maximize their trading potential. This bonus is a valuable incentive for traders aiming to boost their initial trading capital.

Pros and Cons of Binary.com

Binary.com offers numerous advantages which include:

  • Wide range of trading instruments
  • Low minimum deposit and trade amounts
  • Exceptional educational resources and trading tools
  • Regulated by reputable authorities

However, potential drawbacks must be taken into consideration:

  • Inconsistent customer support experience
  • Limited availability for US traders

User Experience and Interface

Binary.com is designed with user experience in mind, featuring an intuitive interface that allows traders to navigate through the platform with ease. The clean layout and visually appealing charts facilitate efficient trading whilst providing comprehensive market data. This emphasis on usability enhances the overall trading experience for all users.

Conclusion on Binary.com

As one of the longest-standing players in the binary options market, Binary.com offers a compelling blend of features, stringent regulations, and educational support that cater to a diverse audience of traders. While there are a few challenges regarding customer support, the overall array of services and tools provided makes it a noteworthy consideration for anyone interested in binary options trading.

Binary.com, previously known as BetOnMarkets, has established itself as a significant player in the binary options market since 1999. This platform offers a variety of trading instruments including currencies, commodities, and stocks, providing users with over 173 assets to trade. With a maximum bonus of $500 and deposit options as low as $5, it accommodates both casual and serious traders alike. Binary.com stands out for its transparency, being regulated by the Malta Gaming Authority and other commissions. This means user information and business practices are readily available, promoting confidence among traders. The platform also features innovative tools like the MetaTrader 5 and a new web-based interface called Ladders, enhancing user experience. While some customer service complaints exist, the overall offerings make Binary.com a noteworthy option in the binary options landscape.

Frequently Asked Questions (FAQ)

What is Binary.com?

Binary.com is a popular platform for trading binary options and CFDs, offering a variety of trading instruments and a user-friendly interface.

Is Binary.com regulated?

Yes, Binary.com is regulated by the Malta Gaming Authority and the UK Gambling Commission, ensuring compliance with industry standards.

What types of accounts are available?

Traders can choose between a real account and a demo account, allowing beginners to practice with virtual funds.

What is the minimum deposit amount?

The minimum deposit on Binary.com is just $5, making it accessible for traders with smaller budgets.

What are the deposit options?

Various deposit methods are available, including credit/debit cards, e-wallets, bank transfers, and even cryptocurrencies like Bitcoin.

How do withdrawals work?

Withdrawals are easy, with no fees and flexible options. However, processing times may vary based on the method chosen.

Can I trade from the US?

No, unfortunately, Binary.com does not accept traders from the United States.

What educational resources are available?

The platform offers a range of educational materials including a glossary, FAQ section, and how-to pages to enhance trading knowledge.

What trading instruments are provided?

Binary.com offers a diverse range of instruments, including currencies, commodities, stocks, and indices.

Is there customer support available?

Yes, customer support is available via phone, live chat, and email for any inquiries or issues that traders may face.

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