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Binary.com is an online binary options and CFD trading platform that is owned and managed by the Regents Market Group. The platform was initially established in 2000 as BetonMarkets.com. It was only in 2013 that BetonMarkets.com was rebranded as Binary.com by the parent company, to spearhead an expansion plan to capture a bigger slice of the binary options market.
Today with the company’s head office located on Malta, at Mompalao Building, Suite 2, Tower Road, Msida MSD1825, Binary.com has grown to service more than one million clients from all over the world. They have since expanded to include satellite offices in Malaysia and Japan as well.
Regulation & Reputation
In terms of its reputation, Binary.com is an award winning platform. Over the years, the platform has won numerous awards from major reviewers in the financial industry. These awards are all testaments to the first class service which Binary.com has provided over the years, to its clients.
In addition, it is also reassuring for traders to know that they are dealing with a legitimate and regulated broker. In terms of regulatory oversight, Binary.com is regulated by the Malta Financial Services Authority as a Category 3 Investment Services provider under the license number IS/70156. On the Isle of Man and the UK, Binary.com is regulated by the Gambling Supervision Commission and the UK Gambling Commission respectively. The platform has also been issued a Remote Bookmaker’s license by the Revenue Commissioners in Ireland.
Trading Platforms
It is interesting to note that Binary.com is able to offer its traders a wide selection of trading platforms. The trading platforms are categorised into (1) basic platforms and (2) advanced platforms.
Basic Platforms
There are 2 types of basic platforms, the Binary.com platform and the Binary Tick Trade App. Both these platforms are used for trading binaries with the latter designed specifically for mobile trading.
Advanced Platforms
As for the advanced trading platforms, Binary.com has the following:
- The MetaTrader 5 platform, for CFDs and forex trading
- The Binary WebTrader, for advanced binary options trading
- The Binary Next-Gen platform, for advanced trading features
- The Binary Bot platform, for automated binary trading
Mobile Trading
As mentioned earlier, the Binary Tick Trade app is specifically designed for traders who need to be mobile and not be glued to their desktop trading terminal. The app is available free of charge and can be downloaded from Apple App Store and Google Playstore. With the app, traders can check their trading account status as well as execute trades.
Trading Accounts Offered
With regards to the type of trading platform that are available at Binary.com, the broker only has two types of trading accounts to offer, a standard trading account and a virtual account.
Virtual Account
The virtual or demo account is basically a practice account that is preloaded with $10,000 virtual cash. It allows beginner traders to test out the trading platform and trading strategies, without having to risk any real money.
It also provides a tool fr advanced traders to back test trading strategies and theories.
Standard Account
Once you are confident enough to begin live trading, you can open a standard trading account. Unlike most binary options brokers, which require a minimum deposit of $250 to open a live trading account, Binary.com only require a minimum deposit of just $5, hence making Binary.com more accessible.
The account process is simple and hassle free. If you have already registered for a demo account, the process of converting it to a virtual account to the standard account is even easier with just a click of the mouse.
Bonus
At present, Binary.com are not offering any form of free trade or no deposit bonus.
Assets & Instruments
At Binary.com, traders can trade in CFDs as well as 4 types of binary options such as Up/Down, Touch/No Touch, End In/Out and Stay In/Out. As for the list of available underlying assets, there is a choice of 114 different types of assets. They consist of 30 currency pairs, 4-currency indexes, 28 market indices, 40 types of stocks, 5 types of commodities and 7 types of market volatility indices.
Customer Support
For the convenience of their clients, Binary.com has translated their website into a dozen different languages. As for customer support, traders can contact the support team through email or by calling them directly on the telephone. Unfortunately, we noted that live chat support is not available which puts Binary.com at a disadvantage, when we compare the broker with other brokers in the industry.
Deposit & Withdrawal
As for the payment methods that are supported by Binary.com, there are plenty of choices. You can use major credit cards such as VISA, Mastercard. Alternatively, you also fund your trading account through eWallets such as Skrill and Neteller.
You can also fund your trading account through online exchanges such as Western Union. For traders without convenient access, funds can also be transferred through wire transfer.
Cryptocurrencies such as Bitcoin, Bitcoin Cash, Litecoin and Ethereum are also accepted in lieu of fiat currencies. As for withdrawals, the whole withdrawal process takes between 1 to 5 business days to be completed depending on the method used.
Is Binary.com Best For Day Trading?
As a platform for day trading, Binary.com is a suitable platform due to the fact that the expiry time for binary options can be as short as 2 minutes. The high returns offered also help to justify the trading risks involved in trading binaries.
FAQs
What is the minimum deposit requirement to open a trading account?
The minimum deposit requirement to open a standard trading account at Binary.com is $5.
How fast can my withdrawal request be processed?
The typical processing time for a withdrawal request to be processed is one business day. However, it may take as long as 5 business days for the funds to appear in your bank account.
Is Binary.com a reliable broker?
Yes, Binary.com is a reliable broker. It is regulated in 4 different jurisdictions, Malta, Isle of Man, UK and Ireland.
What kind of trading platform does Binary.com have?
Binary.com uses the MetaTrader 5 as well as several proprietary platforms.
What kind of instruments is available for trading at Binary.com?
You can trade the markets with CFDs or binary options at Binary.com.
Accepted Countries
Binary.com accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Binary.com from United States, Malaysia, Hong Kong, Iran.
FAQ
Does Binary.com accept US Traders?
No. At present, Binary.com does not accept traders based in the US. Visit the brokers page for a list of brokers who accept traders from your region.
Does binary.com offer trading on the Nasdaq?
Yes. Nasdaq is listed as ‘US Tech 100’ under the indices list. The minimum time frame that can be traded with binary options is 15 minutes. CFD trading is also available via the MT5 platform.
Is there a mobile app?
Yes. Mobile trading is available via the ‘Tick Trade’ android app. SmartTrader is also available on Mobile.
Does Binary.com have MT4
Yes. Binary.com offer MetaTrader integration. Traders need to open a specific account to access the MT4 and MT5 platforms.
Is hedging allowed?
Yes. Binary.com offer both binary options and CFD trading depending on your region. Both can be used to hedge other trades. Payouts between the investment types vary of course, so ensure you understand the potential payouts of each trade if hedging is your aim.
Is Binary.com a trusted, regulated broker?
Yes. Binary.com have been in business since 1999. That longevity in the financial marketplace is a sign of solid customer satisfaction. They are also regulated and licensed by:
- VFSC (Vanuatu)
- FSC (British Virgin Islands)
- IBFC (Malaysia)
