Formerly known as BetOnMarkets, Binary.com is today’s premier binary options broker. The returns that this broker offers is one of the highest in the industry, reaching as high as 1000%! With their regulated status, you can rest assured that your money will be safe with this broker.
Introduction to Binary.Com
Binary.com first started out in 2000 as a betting company called BetOnMarkets offering fixed-odds financial betting. Over the years since obtaining an internet betting license from Malta, the platform has grown to be recognized as one of the ‘Best Fixed-Odds Financial Trading Provider’ by the Financial Times and Investors Chronicle. In 2013, BetOnMarkets become known as Binary.com to reflect the company’s realignment of business focus. The parent company Regent Markets Group Ltd was also renamed Binary Ltd in 2014 to harmonize the company’s objectives. In the same year, Binary.com has managed to achieve a gross turnover of $2 billion since its inception. In 2017, the broker announced plans for an IPO through an Initial Coin Offering (ICO).
Binary.com Company Information
As for Binary.com’s background, the broker is licensed in several jurisdictions globally. With more than 1,000,000 registered customers from all around the world, Binary.com also maintain subsidiaries in several countries such as the British Virgin Island, Japan, Malta, Isle of Man, Costa Rica, and the Republic of Vanuatu. In terms of regulatory oversight, Binary.com in Japan is regulated by the Kanto Local Finance Bureau (KLFB), the Financial Services Agency and the Financial Futures Association of Japan. For Europe, Binary.com is regulated by the Malta Financial Services Authority. In addition, it is also regulated by the Malta Gaming Authority and the UK Gambling Commission, the Gambling Supervision Commission of the Isle of Man and the Vanuatu Financial Services Commission. Apart from being well regulated, Binary.com has also won numerous awards over the years, bearing testimony to its reliability and quality services.
Binary.Com Trading Platforms
The trading platforms that are available at Binary.com can be categorized into 2 categories, Basic platforms and Advanced Platforms. The basic platforms consist of the Binary.com’s proprietary web platform and the Binary Tick Trade App. Both these platforms are specifically geared towards binary options trading.
For the Advanced trading platforms, they comprise of the following:
- MetaTrader 5
- Binary WebTrader
- Binary Next-Gen
- Binary Bot
The MetaTrader 5 platform is an updated version of the popular MetaTrader 4 trading platform. With this trading platform, you will be able to trade spot forex and contract for differences (CFDs). The platform comes with the same powerful features as its predecessor. It has an advanced charting package and a comprehensive library of technical indicators. In addition, it also supports one click trading, multiple languages and multiple order types.
The Binary WebTrader is a web-based trading platform that requires no software download or installation. It is fully accessible with any updated web browser and is targeted towards traders who don’t like the hassle of having to download and install software onto their computers. The WebTrader is highly customizable and comes with the ability to let you manage your portfolio and markets simultaneously. Other main features of the Binary WebTrader include:
- Customizable Interface
- Full Screen Interface
- Secured trading platform
- Support 13 languages
For traders wishing to trade on the go, Binary.com has made available 3 different types of mobile trading platforms. These include the mobile app for the MetaTrader 5 platform, the Binary Next Gen platform and the Binary Tick Trade App. These platforms are all available for download free of charge from Google Playstore and Apple App Store. These mobile trading platforms are specifically designed to allow you to trade the markets directly from your smartphones.
In terms of underlying assets, Binary.com is able to offer more than a hundred types of underlying assets for their traders to trade with. They include a selection of 30 forex pairs, 40 stocks, 5 commodities, 28 market indices, 7 types of market volatility indices and 4 currency indices. These assets can be traded in 4 different manners as End In/Out and Stay In/Out options, Up/Down options or as Touch/No Touch options. Obviously with these different options and the number of available underlying assets, the trading combinations are endless.
Binary.com Fees, Payouts And Trading Features
With regards to the payouts offered by Binary.com, they range from 70% to 90%. There is no additional fees payable on the trades that you make on Binary.com trading platform. However for tick trades, there is a commission charge of 1.5% applicable on the payouts.
As for the trading accounts offered by Binary.com, the broker only has one standard type of trading account and a demo account. The demo account is available free of charge and is preloaded with $10,000 practice money. With it, you can try out the trading platform or test out the trading strategies that you develop without have to risk any real money.
As for the standard trading account, only a token deposit of $5 is required to open it. This is unlike what most brokers in the industry are doing. The typical minimum deposit which these brokers require is $250. Hence with the ultra low deposit requirement imposed by Binary.com, the broker has made their trading services more accessible and affordable to everybody.
Binary.com Bonuses & VIP programs
As for bonuses or VIP programs, these features are not applicable on the Binary.com trading platform as the broker doesn’t have any VIP account program or bonus offer.
Binary.com Deposits and withdrawals
In order to make the funding of trading accounts easier, Binary,com has provided several payment methods which traders can use to fund their trading accounts. These payment methods include bank wire transfer, bank cards such as credit card and debit cards and eWallets such as Skrill and Neteller. However, you can also fund your trading account through Western Union or cryptocurrencies. Popular cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum and Litecoin are also accepted by Binary.com as deposits. To withdraw funds from your trading account, you can use the same methods that you use for depositing your trading funds. The typical processing time required to process a withdrawal request is one business day. However, it should be noted that it can take as long as 5 business days before you can see the funds posted to your bank account.
Binary.com Customer support
The support services at Binary.com are provided on a 24/7 basis. You can contact the support staff either through email or by telephone. Unfortunately, we noted that live chat is not available at Binary.com. Nevertheless, Binary.com has made their website more accessible to their traders by translating their website into a dozen different languages such as German, Thai, Chinese, Vietnamese, Russian, Portuguese, Bahasa Indonesia and Polish.
Binary.com Extra Features And Resources
In terms of extra features and resources offered by Binary.com, they stand out in this respect from other brokers in the industry. It is interesting to note that Binary.com is the only binary options broker in the industry that has a “Binary Shop” selling Binary.com themed T-Shirts. In addition, you can also access for free trading resources such as trading strategies, ebooks and daily reports from the “Binary Shop”. Apart from being a trader on the Binary.com platform, you can also apply to become an API developer for the trading platform, as well as a payment agent for your locality.
Our Verdict On Binary.com
In conclusion, we noted that Binary.com does indeed provide its clients with a safe and secured trading environment. While the broker may be lacking in the area of customer support, they make up for this deficiency by providing services that are second to none in the binary options trading industry. For example, the number of trading platforms that are available on Binary.com is far more than all the binary options brokers in the industry are currently offering their clients. In addition, Binary.com also offer you alternative ways where you can earn extra income by being a freelance software developer or payment agent.
- Award winning Broker
- High Returns on Investments
- Multi Lingual Support
- Multiple choices of trading platforms
- Regulated Broker
- Wide ranges of underlying assets
- No Bonus Offer
- No information of CFD trading conditions
- No Live Chat Support
How much do I have to deposit upon opening my account at Binary.com?
Binary.com only requires a minimum deposit of $5 when you open a trading account.
What is the typical processing time for a withdrawal request at Binary.com?
It normally takes one business day to process a withdrawal request at Binary.com
Is Binary.com a reliable broker?
Yes, Binary.com is a reliable broker. The broker has been operational since 2000.
Can Binary.com be trusted?
Yes. Binary.com is a trusted broker. It is regulated by several regulatory agencies around the world.
What are the trading platforms provided by Binary.com?
Binary.com has made available the proprietary Binary.com WebTrader, Binary Next Gen and MetaTrader 5 trading platforms to its traders.