Bbinary.com Binary Broker Review
Banc De Binary is one of the few binary options brokers with an office (albiet a
satellite office in Wall Street, in NY, NY. They received FSA regulation January 2013 and gave up the US satellite office. This makes them one of the former favorite US binary options brokers. They are known for their excellent customer service and positive reputation in the binary options trading community. We searched for complaints and while we did find our fair share, there was always a resolution and bbinary has maintained a positive reputation.
- Official Website: www.bbinary.com
- Headquarters: Cyprus & New York City, NY (Satellite)
- Phone Number: 800-656-6163
- Email Address: firstname.lastname@example.org
USA Traders AllowedJan 20th, 2013 – BDB stops accepting new US traders as they are now regulated by CYSEC and are working with the CFTC. (reached a 200,000 trader milestone in late August, 2012. Received CYSEC Regulation 1/2013, CFTC Sues Banc De Binary
- Trading Platform Used: SpotOption
Is Banc de Binary a scam?
The short answer to that question is no. Banc De Binary is not a scam site. They are an industry leader and are leading the charge for out and out full regulation by CYSEC, the Cyprus Securities and Exchange commission. You can feel comfortable making deposits at Bbinary and know that the trades there are legit. We do warn you to be cautious of accepting a bonus offer. Accepting a bonus offer makings withdrawing your money quite challenging. You have to meet a series of terms and conditions in order to withdraw if you accept a bonus. If you refuse the bonus you can deposit and withdraw as you need.
However, the long answer with more explanations is that while Banc de Binary isn’t a scam in our minds they aren’t perfect either. (Not many binary options brokers are) There will never be a binary options broker that is 100% perfect without any flaws.
So we take a look at what some of the traders have been complaining about. A “minor” complaint in our eyes are the people griping that they can’t get their withdrawal done when they want to. Upon further explanations most admitted that they didn’t have the appropriate paperwork on file to start the process.
A more experienced trader offered up these tips which we agree with and feel that if you followed them you’d have success withdrawing as well.
Steps To Get Your Account Set Up With BBinary.com
The best way to not experience withdrawal issues with any broker is to do the following:
1) Register with the broker. Wait until you complete the steps below to deposit)
2) Send your government ID, electricity bill, and credit card info (Blocking first 12digits and the 3 digit code in the end)
3) Request for a “Approved for Deposit & Withdrawal confirmation” from your account manager.
Ask her or him to email you with the above statement.
4) Deposit your amount after you receive your email confirmation
5) Withdraw without any problems in the future.
That being said we move onto the second complaint. Slightly more major in our minds yet a solution has to be out there. (I just haven’t found it yet.) Complaints of spreads being different. Some people offered up advise of taking a screenshot and presenting it to bbinary.com if you feel you’ve been cheated. Others suggested watching for spreads that are tolerable. It seems to happen frequently but if its a small spread it is easier to deal with.
Side note: A spread is the difference in price between your charts and the price they offer. Remember, when you are making the trade they offer you the trade at their terms and you can take it or not. It’s transparent even if there is a difference in price between your charts and their offer.
Cherry stepped in and gave a bit of insight on the spreads matter as well as her comments to the Banc de Binary Customer Service. You can read the full forum discussion here. It’s important to understand that these are seasoned traders sharing their long term opinion on where to trade.
- Minimum Deposit: $500
- Deposit Methods: Credit Card, Electronic Payment, Wire Transfer
- Credit Cards Accepted: Visa, Mastercard, Maestro, Amex, Diner’s Club International
- Electronic Payments Accepted: MoneyBookers
- Minimum of $1000USD for Wire Transfer
Banc de Binary has a 100% sign up bonus with a standard account. For the nitty gritty details you’ll want to head over to bbinary.com now.
Types of Options Information
- Types of Options: High/Low
- Expiry Times Available: 60 Seconds, Hourly
- High/Low Payout Percentage: 72-90%
Assets Available to Trade
- Oil (Brent Crude)
- Corn Coffee
- BNP Paribas
- British American T
- Coca Cola
- Danone SA
- France Telecom
- Goldman Sachs
- HSBC Holdings
- S.Bank India
- Tata Motors
- Vivendi Sa
- Deutche Telecom
- Louis Vuitton
- Publicis Groupe
- Sab Miller
- Rio Tinto
- Citi Group
- JP Morgan Chase
- Bombay SE
- FTSE 100
- Hang Seng
- Nasdaq Futures
- Nikkei 225
- S&P 500
- Straits Times
- Tel Aviv 25
*last updated Jan 11, 2013