- Free Demo Account with 10,000 virtual funds added
- Highly Regulated
- No hidden fees or commissions
- Award Winning Platform
- Multiple funding methods
- Very little training materials
- Not available in United States, Malaysia, Hong Kong, Iran
- Head Office Address: Mompalao Building, Suite 2, Tower Road, Msida, Malta MSD1825
- Website: www.binary.com
- Minimum Deposit: $5
- Minimum Investment:$1 –
- Maximum Investment:$50,000
- Currencies Accepted: United States and Australian, Dollar, British Pound, Euro.
- Support Languages: English, German, Spanish, Portuguese, French, Italian, Polish, Indonesian, Thai, simplified Chinese, traditional Chinese, Vietnamese, Russian.
- Countries Not Allowed: United States, Malaysia, Hong Kong, Iran
- Deposits and Withdrawals: See below
- Withdrawal Time: 1 working day
- Demo account: Yes, free of charge, no time limit with $10,000 virtual funds
- Trading Platform: Own platform built on Web-browser, standalone app and MetaTrader 5 for advanced users
- Regulation: See list below
- Payout percent: 91%
Binary Com Review & Credibility:
Binary.com is one of the oldest online trading companies, originally founded in 1999, it started operation online at betonmarkets.com, where it established a 24/7 financial trading service. Due to the uniqueness of their situation as the only online fixed odds financial trading company, they filed for a patent on their software. In 2007 the company won the ‘Best Fixed-odds Financial Trading Provider’ award from Shares Magazine in the UK. In 2008 they won three further awards as’Best Fixed-odds Financial Trading Provider’, again from Shares Magazine and also from The Financial Times and Chronicle. Binary.com have gone on to win further awards around the world, including being honoured as the world’s “Best Binary Options Broker” at the 16th annual MENA International Financial Conference in 2016.
The company have offices located around the world; Malaysia, Isle of Man, Japan, and Paraguay.
They employ over 200 people worldwide and as of 2019, have just over 1 million registered accounts across the globe.
Binary.com are heavily regulated. The main company, Binary Limited has its registered office at 47 Esplanade, St Helier, Jersey JE1 0BD, Channel Islands, and is the holding company for the subsidiaries within the company that offer trading around the world.
Rather than fill this section with all the licence and regulation information for binary.com, you can check out the full list at there website, here
According to their website the following figures outline the projected usage of their binary options software for 2019.
- Number of active trading accounts in the system – over 100,000
- Number of transactions projected for 2019 is 197 million, taking the total number since the start to over 789 million.
- Trading Turnover expected- $1 billion (currently 4.7 billion USD since they started)
- Projected withdrawals for clients – $140 million USD
- Processing time for withdrawal requests – One working day
Binary.com offers a variety of trading platforms, apps and tools. For the beginner, there is the SmartTrader binary options trading platform. Then for Android smartphones, there is their Tick Trade app, and finally, if you wish to trade FX binary options, you have their multi-barrier trading platform called Ladders.
For the advanced trader, there are three platforms available. The first is the MetaTrader 5 advanced multi-asset trading platform that enables you to trade Forex, CFD’s and binary options from the one dashboard. Next, the Binary WebTrader platform allows you to monitor a variety of assets and markets at the same time. And finally, there is the Binary Bot drag-and-drop platform that enables you to set up the platform how you want for auto-trading.
You can also study various finance data to forecast movements in the markets through their two charting platforms, TradingView and SmartCharts.
It is important to remember that binary.com is a binary options trading company only. That may sound obvious, but when trading in Forex with Binary.com for example, you are not buying or selling any actualy currency, you are trading binary options in FX, which is a contract that determines the performance of the FX asset over a period of time. If you want to actually trad Forex, then check out our Forex review page.
The markets that are available from Binary.com are:
Forex – You have the option to trade up to 14 major currency pairs, 14 minor currency pairs, and 4 types of Smart FX indices, which are weighted indices (weighted by 20%) that will measure the value of the currency you pick from the four available (which are USD AUD, EUR and GBP) against a host of five other currencies, which are the four mentioned above, plus the CAD and JPY. So if you are trading on the GBP index, you are measuring the GBP against the USD, EUR, AUD, JPY and CAD, and so on.
Indices – you can trade in the Americas market, which covers the US Index, US Tech and Wall Street Index; Asia which covers Australia, Hong and Japan indexes; and Europe which cover the 7 major indexes.
Commodities – |Two areas of commodities are covered, energy and metals. Within energy you had oil only, and within metal, the four major ones, gold, silver, palladium, and platinum
Volatility Indices – Binary.com’s Volatility Indices are synthetic indices that mimic real-world market volatility and are available for trading 24/7
Binary Option Trade Types:
Binary.com pffer 5 different trading types on their MetaTrader5 platform. They are:
Up/Down – This enables you to predict as to whether the exit point will be higher (up) or lover(down) than the point of entry, within a time frame of 1 min to 5 mins or 5 ticks to 10 ticks.
High Tick/Low Tick – With this trade type you chose to predict either the highest or lowest tick within the following 5 ticks.
Matches/Differs – The third trading type is the matches/differs type. This where you predict if the last digit of the last tick will be a match or will differ from the prediction you selected from 5 to 10 ticks.
The final two choices of trading types are the Even/Odd which allows you to predict if the last digit of the last tick will be an even number or an odd number, within a duration of 5-10 ticks, and the Over/Under trading type, which allows you to predict if the last digit of the last tick will be over the your predicted selection from 5 to 10 ticks, or under your prediction.
Demo Trading Account:
As we have already hinted at, there is a demo account available for you to use and practice your trades before moving over to the full account. The demo account comes with 10,000 virtual USD’s. In addition, they let you top up your virtual account with an additional $10,000 USD when your balance gets to $1,000 USD or less, so that you can continue to keep practising.
So what do you get with the demo trading account? – Well basically you get everything that is in the live account except for the fact that all your trades are virtual. All the charts are live and actual, so there is no fake charts or dummy accounts, it is as if you were trading for real.
Funding Your Account
Binary.com offer a wide variety of payment methods. These are:
Bank Transfer – You can transfer USD, GBP, EUR, or AUD and the minimum depoisit is 500 with a maximum of 100,000 (the same amounts apply to withdrawals too).
Internet Bank Transfer – currency transfers are only USD, GBP and EUR, but the minimum Deposit is lower at 25, but also is the maximum deposit at 10,000. (same amounts apply to withdrawals)
Credit Debit Cards – There are three options, Visa, Mastercard and Maestro, all with the same currencies and deposit and withdrawal amounts, which are: USD, GBP, EUR and AUD and 10 min and 10,000 max deposit and withdrawal. Mastercard and Maestro withdrawals are only available for UK users.
E-Wallet – Binary.com will allow deposit and withdrawal via four e-wallets. Each one having slightly different criteria.
- Skrill – You can deposit using the four main currencies, USD, GBP, EUR and AUD. Min deposit and withdrawal is 5 with the max for both is 10,000
- Neteller – same as Skrill on all fronts.
- Webmoney – Same min and max deposit and withdrawals as Skrill and Neteller, but you can only deposit/withdraw in USD and EUR
- Paysafe – All four currencies for deposit and withdrawal, with a minimum deposit of 5 and a maximum deposit of 1,000. The withdrawals are different, 5 minimum and 750 maximum
We have yet to see any other trading platform offer this facility of funding and withdrawing from your account by way of cryptocurrency. This is impressive and puts binary.com ahead of all its competition on this front. The cryptocurrencies you can use are:
- Bitcoin (BTC) min deposit is 0.002 and min withdrawal is 0.0003
- Ethereum (ETH) min deposit 0.01 and min withdrawal 0.01
- Litcoin (LTC min deposit 0.1 min withdrawal 0.02
- Tether (UST) min deposit 1 min withdrawal 1
In all cases the processing time for deposits is 3 blockchain confirmations and withdrawal is one working day.
This information was correct at the time this review was written. We will monitor any changes, but advise you confirm with binary.com the rates etc before you start funding your account.
Like everything in life, nothing is perfect and there will always be people who are not happy with a product, or something has gone wrong with the product or service to cause an issue or a complaint. We did a search online for complaints about binary.com and we found some, a total of 68 complaints in fact. Most of these complaints revolved around loss of money and trying to get loses back. Also from reading these negative reviews, it is obvious that a few people actually didn’t fully understand certain trades, like volatility indices. These are complex and in our opinion you should only trade in them if you are certain you know what you are doing. When you consider that binary.com state that they have over 100,000 active trading accounts in their system, and we could only find 68 complaints, the ratio is pretty good.
We want to reiterate that no trading platform is perfect. Trading carries a high level of risk and it can result in you losing all your funds, therefore you should never invest money you are not prepared to lose.
Binary.com are one of the oldest and heavily regulated binary options trading platforms around. They offer a wide range of products and means by which to fund your account. The platform is very simple, however, we feel its a little too simple, mainly geared towards those who know what they are doing. If you are a seasoned trader, then binary.com is certainly a good platform for you to use. If you are new at trading, the demo account is a great place to start of course, and the training academy they offer with a selection of training videos and webinars is also very good, but you may find other platforms easier to use. All in all binary.com is very good trading platform and we certainly do recommend them.
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