Binary.com review - key features of the platform

Binary.com is a reputable and one of the most popular platforms for trading binary options, Forex, and CFDs. The brand is owned and operated by the Binary Group Ltd. This company entered the market in 1999 and was originally known as BetOnMarkets.com. Currently, it has attracted over 175,000 clients and has offices in Malta, Malaysia and Japan. Why is the broker so successful for more than two decades? The answer is very simple. It is considered one of the best option trading brokers.
February 8, 2021

Binary.com review

The initial deposit here is only $ 5, and you can try a free demo account. A virtual account is the best way to test a trading platform. You can select from more than 100 different assets available at Binary.com. You can trade cryptocurrencies, indices, commodities, currencies or volatility index instruments.

The maximum return on investment for binary options is 100 euros, and the maximum leverage for Forex and CFDs is up to 1: 500. Besides, the broker has no hidden fees on the platform.

Trading conditions:

  • Return on investment up to € 100 (Binary Options)
  • Leverage up to 1: 500 (Forex and CFDs)
  • Access to 100+ different markets
  • The initial deposit is 5 $
  • Free training account
  • Low fees compared to other brokers
  • High liquidity

Regulation & Reputation

Binary Limited is a holding company and includes a number of subsidiaries:

  • Binary Investments (Europe) Ltd. Registered in Malta, is certified and controlled by the Malta Financial Services Authority MFSA (license number IS / 70156).
  • Binary (Europe) Ltd., based in Malta, is licensed and controlled by the Malta Gambling Authority, licensed under MGA / CL2 / 118/2000.
  • Binary (SVG) is registered in Saint Vincent and the Grenadines under number 25299 BC 2019.
  • Binary (IOM) Ltd. is registered in the Isle of Man and is monitored by the Isle of Man Gambling Authority.
  • Binary (V) Ltd, located in the Republic of Vanuatu, is licensed and regulated by the Vanuatu Financial Services Commission (VFSC).
  • Binary (BVI) Ltd is under the control of the British Virgin Islands Financial Services Commission (FSC).
  • Binary (FX) Ltd. a Malaysian company is under the jurisdiction of Labuan Financial Services Authority. Valid license number is MB / 18/0024.
Besides official licenses, the broker is the owner of a number of awards and certificates. According to such reputable world publications as Global Banking & Finance Review, Trade2Win, eGaming Review, Shares Magazine UK, Investors Chronicle and Financial Times.

Trade Types and Payouts

Currently, the broker offers 114 different types of trading assets. These are 30 currency pairs, 4-currency indexes, 28 market indices, 40 stocks types, 5 types of commodities and 7 types of market volatility indices.

The platform offers its clients six different types of contracts, and some of them are very rare:

  • Classic (Higher / Lower) binary options are a standard tool that every broker knows. On the Binary.com site, you can trade these options for any period.

  • Up / Down Contracts. They are very similar to the above version but there are some differences. The key idea of this type of a trade is to indicate whether the price of the asset will go up or below a certain barrier after the transaction is over. Moreover, the greater the difference between the opening price and the fixed barrier, the greater the potential profit is.

  • Touch/ No Touch is also a very popular type of options. Here the trader needs to indicate whether the price of an asset will reach a given level, and from what side this touch will happen. The profit depends on how far you are from the specified level.

  • Range options. The trader needs to predict whether quotes will go beyond the specified boundaries or stay within them.

  • Asian options are a rare type of options. When selecting this options type, the trader needs to indicate whether the closing price of the transaction will be higher than the arithmetic average of the quotes observed throughout the transaction or lower. The options are really difficult to work with, but the profit is very high.

  • Digital options. Here, the measurement criterion is the decimal spot price. The trader needs to determine whether the last decimal of the closing price will coincide with his prediction or will differ from it. The forecast is made before opening a trade.

To implement passive trading, the company offers to use the Binary bot service - a service developed by the broker itself.

Here, anyone can create their own robot. The majority of components for a robot are written in the MQL programming language. Therefore, traders will need to master the basics of this language to succeed here. The very procedure for creating your own Expert Advisor consists of several important steps:

  • Selecting an order. Here the trader needs to decide on the type of contract, asset, robot behavior in case of an error. At the same stage, the lot size and timeframe are set.

  • Conclusion of a contract. It is the main stage, where the conditions for entering the market are prescribed.

  • The end of the trading session. At this stage, the conditions for order execution are prescribed.

  • Analysis of trades and refreshment of trading. After examining the trading results, the software makes an offline decision to continue trading or close the session.

The platform offers a store with ready-made bots, some of which were developed by the broker itself, for example, automated Binary.com strategies, as well as other programs. A trader who has created his own software can put it in the store along with other advisors, meaning additional income. He can receive a percentage of the use of the robot by other traders.

Mobile Trading

The Binary.com broker keeps up with the modern trends and offers users a special Tick Trade mobile application for convenient access via smartphone (available on Android). The program is free, convenient and easy to use. It has the main features of the web version: all types of options and settings, traders have access to the charts and market analysis. You can also set up a personal account, check its status and quickly make requests for the money withdrawal via smartphone. The mobile app is available for download through the Google Play service. With this program, fast and powerful trading becomes accessible at any time and from any location. The main advantage of mobile applications is that they make trading much easier and more comfortable.

Trading Accounts Offered

The broker offers traders 2 types of accounts:

  • A demo account.
The site gives you access to virtual $ 10,000 which allows you not to risk your own money. At the same time, you will get fully acquainted with the broker's capabilities. This training stage should not be considered as a game. Using this unique option, users can check the performance of the terminal, responsiveness of support managers, etc. After studying the platform, clients can decide whether it is worth continuing cooperation. Moreover, a training account is an excellent opportunity to develop and test your personal strategy.

  • Real account.
It allows traders to enjoy all benefits of binary options. Here you can trade crypto, major currencies, commodities, indices, as well as shares of global companies.

  • MT5 Account.
This account type provides access to CDFs on Forex, crypto and other markets. You can register MT5 Financial account and MT5 Synthetic account. Financial account type offers standard assets and Synthetic is used for indices.

Bonuses

This reputable broker does not need to motivate its clients with bonuses and tempting offers, because binary.com minimum deposit is only $ 5. It is great for beginners who are always looking for affordable trading opportunities.

For active traders, the broker offers a different option for earning money. Thus, users can benefit from participating in the affiliate program. There are two types of programs:

  • Partner. Program participants receive up to 45% of the referral commission. Funds are credited after the 15th day of each month.
  • Introducing Broker. Users get the opportunity to earn commissions from the trading activity of referrals that were attracted to the MT 5 trading platform. The amount of commission depends on the asset and is calculated according to a special formula.

Assets & Instruments

Currently, the company offers 114 different types of trading instruments. These are 30 currency pairs, 4-currency indexes, 28 market indices, 40 stocks types, 5 types of commodities and 7 types of market volatility indices.

Unlike other forex intermediaries that got stuck with MT4 terminal, Binary trading platform offers much wider selection. The software is also compatible with mobile devices. The platforms are designed for a variety of purposes and a trader can choose from. As mentioned earlier, it is possible to trade a variety of financial products with Binary.com. You cannot trade all financial products on one platform.

  • Deriv.com - next generation online trading platform. It is the most up to date development of the broker. The terminal is user-friendly and has many useful features.
  • SmartTrader – a leading trading terminal for binary options. It provides access to all global financial markets.
  • Tick Trade app for Android. The traders can enjoy instant trading on the go. You only need to download the app to your smartphone and login from any location.
  • MetaTrader 5 – an advanced platform for trading multiple assets. Here everyone can trade forex and CFDs from a powerful terminal that is considered to be the world standard.
  • WebTrader by Binary. It is an advanced terminal for trading binary options. At the same time, the interface allows traders to monitor the dynamics of the assets and markets.
  • Binary Bot is a tool for automated trading. Automate your trading techniques with our simple robot creation tool.

Judging by multiple reviews, all the platforms are very clearly designed and easy to use. They are suitable both for beginners and professional traders. Furthermore, the renowned MetaTrader 5 is available for Forex and CFD trading.

Customer Support

The official site is translated in a number of languages for customer convenience. The broker provides the following channels to help the clients solve difficulties with the terminal and answer various queries:

  • Phone. You can reach the technical specialists via two telephone numbers - 0800 011 9847 or +44 (0) 1666 8000. Calls are accepted on weekdays and weekends.
  • Online chat. At the same time, a free chat is available on the official website of the company.
  • Email. Another way to get in touch is to write to one of the several email addresses:

support@binary.com for general questions;

payments@binary.com on issues related to making payments, replenishing the balance and withdrawing funds;

marketing@binary.com for customers wishing to become partners of the company.

Deposits and Withdrawals

The payment methods are bank transfers, credit cards and e-wallets. At the same time, it is possible to enter and withdraw funds using 12 different electronic wallets.

Depending on the method of making a deposit or withdrawal of money, the time of receipt or withdrawal can vary from instant crediting to 5 business days.

The minimum amount you can withdraw is $ 5, the maximum is $ 100,000 by bank transfer.

According to almost every binary.com review, withdrawal requests are processed promptly, transactions in the system go through very quickly. Besides, you can always contact the support service and get an answer to your question in time.

FAQs with Binary

1. Is binary trading legal in South Africa?
If you are located in South Africa, you can freely participate in online trading. For this, you will need to find a broker to have access to financial markers.

2.Is binary trading a scam?
The Binary.com broker is a holder of a number of licenses from reputable financial regulators as well as multiple industry awards for the best trading conditions and software.

3.What kind of platform do Binary.com offer?
To satisfy the pickiest traders, the broker maintains a whole range of platforms. You can trade on the MT5 terminal or you can practice auto trading with Binary Bot. Mobile access is available via Tick Trade app. And besides, you can speculate on Web Trader or Smart Trader. And the most recent broker's development is the advanced Deriv.com platform.

Is Binomo a Scam? Read this article and find out whether or not Binomo is legal in Malaysia and India.

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