Binary

Editor's Score
Pros
  • Available in 12 languages
  • Free demo account
  • Various option types
Cons
  • No promotions or bonuses
  • Not available for US traders
  • Relatively “no frills”
Min Deposit
$5
Max Leverage
Mini Account
Bonus
Unclear
Platforms
  • SmartTrader
  • TrickTrade
  • Ladders
  • MT5
  • WebTrader
Withdrawal Options
  • Credit and Debit cards
  • Skrill
  • Neteller
  • Cryptocurrencies

Review

Introduction

Founded in 1999 in Malta, Binary.com is among the oldest brokers for online binary trading. Regulated in Malta, Vanuatu, Labuan, and the British Virgin Islands in addition to in the UK, Ireland, and the Isle of Man, the broker has offices in Malta and Malaysia. This broker has content in 12 different languages to appeal to an international client base.

The broker has earned many awards over the years. In 2018, these included the title of Best Binary Company Asia Pacific from the Global Banking & Finance Awards and the title of Best Trading Platform in Asia from Global Brands Magazine.

Trading Conditions

Binary.com does not clearly list its leverage or bonuses on its website for the most part. This broker has a good execution speed and average 20 transactions every second, 24/7. The broker offers the choice of Real Money or Virtual accounts, with the latter serving as a demo account. The Virtual Accounts come with $10,000 of virtual money and let traders hone their skills. You can open a Real Account within just a few minutes.

Products

To get a feel for the assets available for trading on Binary.com, you must either create an account or view the Asset Index. There, you will find 14 major Forex pairs, 14 minor pairs, and four Smart FX indices. Binary.com lists three indices in Asia/Oceania, seven in Europe, and three in the Americas. In terms of commodities, it offers four metals and one energy commodity. There are also volatility indices, including five continuous indices and two daily reset indices.

Regulation

Binary Investments (Europe) offers financials products within the EU at Mompalao Building, Suite 2, Tower Road, Msida MSD1825, Malta, where it is regulated by the Malta Financial Services Authority with license number IS/70156 as a Category 3 Investment Services provider.

Outside of the EU, there are several additional regulators and versions of Binary.com. Binary (C.R.) S.A. has an address in San Jose, Costa Rica while Binary (V) Ltd has an address is Port Vila, Vanuatu and is regulated by the Vanuatu Financial Services Commission. Binary (BVI) Ltd has an address in the British Virgin Islands and the British Virgin Islands Financial Services Commission regulates it with license number SIBA/L/18/1114. Finally, Binary (FX) Ltd. has an address in Labuan, Malaysia and the Labuan Financial Services Authority regulates it as a money-broking business with license number MB/18/0024.

It is important to note that Binary.com does not offer services to those in Japan, the USA, Canada, Hong Kong, or Costa Rica.

Platforms

Binary.com excels in its platform offerings, with platforms for both beginners and advanced traders. Beginners will appreciate SmartTrader, the premier platform for trading binary options that features an interface which is user-friendly. The Binary Tick Trade App is the specific application for mobile devices. Or you can use Ladders, Binary.com’s multi-barrier platform that lets you trade FX binary options. Advanced traders will appreciate the use of MetaTrader 5 with Binary.com, which is considered the global standard and allows for trading of binary options, CFDs, and Forex. They will also appreciate the Binary WebTrader, which is an advanced options trading interface and Binary Bot, which is a drag-and-drop tool for creating bots for your auto-trader programming needs.

There are also charting platforms from Binary.com that let you study financial data with convenient charting tools. TradingView for Binary.com includes a range of overlays, indicators, and price bands, making it possible to analyze the markets. SmartCharts is an interactive charting tool that lets traders analyze financial markets with unique trading tools, beautiful visualizations, and an intuitive, quick interface.

Mobile Trading

The best way to trade on mobile devices with Binary.com is via the Binary.com Tick Trade App. It lets you place tick trades from anywhere at any time. The application lets you choose your preferences, choose an underlying asset and market, set your trade pace (between five and ten ticks), designated the binary trade type (including Digit Match/Differs and Up/Down), or indicate the chosen stake or payout. It works with multiple languages, including Indonesia and English.

Pricing

Binary.com does not make it easy to find information related to pricing, commissions, fees, or spreads on its website. The broker says that there are no hidden commissions or fees, which indicates that Binary.com makes it profit from spreads. Unfortunately, information regarding those spreads is not readily available.

Deposits & Withdrawals

There are a vast number of methods for depositing and withdrawing into a Binary.com account. Bank wires and money transfers can be done in USD, GBP, AUD, or EUR or you can deposit with Visa or MasterCard in the same funds. Available e-wallets include FasaPay, Perfect Money, Skrill/Moneybookers, Neteller, WebMoney, Qiwi, PaySafeCard, and Yandex. Or you can deposit via cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. Deposit times tend to be instant or one day with withdrawals typically taking one working day.


Customer Support

There is always a button for customer support in the bottom right corner of the page on Binary.com. Clicking on this will open the help center. From there, you can either send a ticket or view the help content. This is where you will find the FAQ sections, which includes categories for general questions, account, deposits and withdrawals, trading, MetaTrader 5, binary bots, and cryptocurrencies.

Research & Education

There are plenty of educational tools in the Get Started section on Binary.com. Here, you can find introductions and various topics related to binary options as well as the MetaTrader 5 platform. There are also webinars and an Academy. The Academy includes recent updates to Binary.com, a daily report, a range of videos, events, and Binary TV, among other information. You can register for or view recorded videos of the Commodities Corner, webinars, and weekly trading signals. You will also find eBooks to download, security tips, Mellon on the Markets, and educational videos.

Noteworthy Points

In addition to the previously mentioned honors of being the Global Banking & Finance Awards’ Best Binary Company Asia Pacific and Global Brands Magazine’s Best Trading Platform in Asia, Binary.com has earned many other awards. In 2017, it earned the title of Best Binary Options Broker from the Online Personal Wealth Awards. In 2016, it was the Best Binary Options Broker according to the 16th MENA Financial Forum & Expo. Other honors included those from the EGR Operator Awards in 2015, the Best Fixed-Odds Frim from the 2012’s Global Banking and Finance Review, and the Best Fixed-Odds Broker Silver Award in 2010 from Trade2Win.

Conclusion

Binary.com is a well-respected broker, regulated in multiple jurisdictions around the world, something which further indicates that you can rely on this broker. Binary.com offers trading of binary options for a range of assets, but does not have clear information on spreads on its website. There are plenty of educational resources available to appeal to beginner traders as well as a demo account. At the same time, advanced traders will appreciate the tools available via MetaTrader 5 and advanced charting platforms plus things like weekly trading signals and daily market reports.

Comparison

Broker Comparison Maecenas porta rhoncus dui ut congue. Donec luctus non sem eu euismod. Ut rhoncus mauris non bibendum congue. Donec maximus ipsum a lectus sollicitudin.

User Reviews

Be the first to write a review

Log in

Log in

Cancel