Binary.com is a very interesting online binary option trading destination, perhaps the only operator that represents serious competition for dominant brokers like IQ Option. Indeed, Binary.com is regulated, it offers superb minimums on deposits as well as on individual trades and it is always up-to-date from a regulatory perspective.
As a result of the ESMA’s recent moves to curb bonus-oriented promotions in the regulated segment of the EU’s binary option market, MFSA, the regulator with which Binary.com is licensed (among other such authorities) has requested that its licensed operators comply with the latest requirements. Thus, Binary.com no longer offer any bonus-based deals for their traders. The logic behind the directive is that such promotions actively encourage traders to trade more and through the terms and conditions attached to them, many operators effectively hold their clients’ deposits hostage.
In addition to holding a number of licenses covering various jurisdictions and fields of activity, Binary.com also have a number of patents registered in the US, for various betting and trading systems. The group to which Binary.com belongs serves more than 1 million customers world-over.
To make a long story short, Binary.com are regulated and they’re really keen on compliance too. The community vibe concerning this broker is pretty healthy too. Although there are a few complaints here and there, by imprudent traders, who have wasted their bankrolls mostly, overall, everyone seems to be content with what Binary.com bring to the table.
The site features return rates of up to 91% – which is fair and slightly better than the industry-average. The minimum deposit is set to $10 and the minimum investment to $1. The maximum in this respect is a mind-boggling $50,000. As one can plainly see, this operator is all about flexibility. It’s not looking to force its clients to cough up cash in any shape or form, rather, it’s looking to hook them for the long run, leaving a host of possibilities and options open for them. The trading platform used by Binary.com is proprietary, and it comes with a demo account for users. The operation supports an impressively large number of deposit and withdrawal methods.
One of the downsides of the money transfer system of the broker is though that deposits/withdrawals made through net wallets can take some 3-5 days to process.
Traders are accepted from all over the world, with the exception of the US and Hong Kong.
The Binary.com Platform
The Binary.com proprietary platform is the main selling point of the operation. It comes with so many bells, whistles and unique features, that it’s obvious its creators are deeply committed to this game. The platform is made up of several sub-platforms, categorized into Basic Platforms and Advanced Platforms.
The basic platform section contains the main Binary.com trading platform, with its own bells and whistles, as well as the Binary Tick Trade App, which is available for all types of mobile devices. This app is apparently one of the fastest traders out there, allowing traders to have their options expire within five ticks. The cherry on top of the cake is that people can trade through this app on the move, everywhere.
Meta Trader 5 highlights the Advanced platform selection of the operation. This platform offers powerful charting and market-analysis tools and it is a must have for most serious binary option and CFD traders.
The Binary Webtrader is all about charting. It gives players the possibility to keep their eyes on the real-time evolution of several underlying assets, thus drawing their conclusions and placing their trades at the click of a button.
The Binary Next-Gen is an advanced trading app for various mobile devices. The Binary Next-Gen offers advanced charting and technical analysis features, as a sort of mobile trading laboratory.
The Binary Bot feature is Binary.com’s own, in-house, binary trading robot creator. Because the Binary.com software is proprietary, it has some compatibility issues with 3rd party auto-traders. The bottom line in this respect is, that given the amount of abuse 3rd party auto trading operators perpetrate, it is indeed best to steer well clear of them, for traders as well as for brokers. At Binary.com, auto-trading won’t be a problem though. Traders can build their own robots, using a powerful yet very simple drag-and-drop-based modular builder. What this means on one hand is that even those who aren’t technical analysis experts, can build their own robots. On the other hand, there is essentially no limit to the intricacy that robot creators can encode into their auto traders. What’s more, those who create robots are allowed to sell them to their fellow traders, through the app shop of the website. That’s right: robot creators aren’t compelled to share their creations for free. Whenever they make a sale through the app shop, they get an 80% cut from the revenue generated by their sale.
Those who want to build a robot but do not possess the expertise to pull it off, can contact Binary.com and receive assistance.
As if all the above listed features weren’t enough, traders also gain direct access to Binary.com’s TradingView, which takes charting and technical analysis to an entirely new level. TradingView features an impressive number of technical analysis indicators, overlays and price bands.
One has to understand that not all markets are available for every one of the above listed platforms though. For instance, tick trading can only be used with Forex and Volatility Indices. Meta Trader 5 only works with Volatility Indices and CFDs, while bots work with the entire asset-selection offered by the site. The available expiry times cover a ridiculously massive range: from 5 ticks to one whole year.
The way the actual trading interface is set up at Binary.com, allows traders to take a look at both sides of a possible trade and to compare the performances. After that, they can make an educated decision regarding the best trading path to take.
The demo account makes it possible for traders to familiarize themselves with the rather unusual trading interface, but for this purpose, Binary.com have implemented a platform tour, which takes one through the steps, one by one. Still, the demo account is great for the testing of various trading strategies and for the assessment of the performance of the auto-traders created on-site.
Binary.com Option Types
In line with its massive selection of platforms and trading tools, Binary.com covers quite a few option types too, thus allowing traders to put a wide range of strategies to use. They have Up/Down (Put/Call), Touch/No Touch and Stays in/Goes out (Boundary) options. With the Touch/No Touch option, the objective is to predict whether the price of the underlying asset will touch a certain level before expiry or not. With the Stays In/Goes Out option, one is wagering on whether the asset-price stays within a set range or leaves it before expiry.
Besides the tick trading feature mentioned above, Binary.com have recently added an Asian&Digits feature, which allows traders to bet on the last digit of the expiry -time. This feature was probably inspired by the pedigree of the operation, which is rooted in online gambling.
In addition to the above, at Binary.com, traders can sell their options before expiry, to lock in profits or to put a stop to losses.
Binary.com Tradable Asset Selection
Binary.com are at the forefront of the industry in this respect as well, although things may get a little confusing for the rank-and-file trader here. The selection of underlying assets is indeed different, with 28 indices, 27 currency pairs and more than 50 random indices available. There are only 3 commodities, but there are some indices in the Sectors section, which are essentially commodities too. Non-traditional asset classes are also present in the selection.
Having covered every aspect of their operation so well, it is only natural that Binary.com feature a superb Trading Academy too. This Academy takes up an entire section of their site, and it features webinars, free daily market reports, free charts, as well as an eBook. They also have a massive selection of trading articles, covering every nook and cranny of one’s activity at their site. Their training videos are numerous and well put-together, and their Learning Center is an almost inexhaustible source of market- and security tips, downloads, market updates and trading signals. They feature separate sections complete with videos for their commodities and they offer an impressive number of ready-made strategies and applications. While some of these tools and applications cost money, many of them are free. One can pick up the Martingale Strategy or the D’Alambert Strategy for free, together with the Tick Trade app.
Perhaps the most attractive thing about all this information made available by the operation is that everyone can browse through it for free, even those who do not yet have an account registered with the operator.
The Binary.com support is just as legit as the rest of the operation. Nothing is left to chance here. Support can be reached through live chat directly off their site, phone and email. There’s a much-appreciated call-back service available as well. The phone numbers they have listed feature different working hours for European and Asian clients. Those having problems with one of their trading platforms or with the robot-creation process, have different support numbers at their disposal.
Needless to say, the Binary.com support staff is knowledgeable, and quick to act. The call-back service is truly outstanding and probably something other binary option brokers should pick up as well.
The deposit and withdrawal methods supported by Binary.com cover a truly massive range. The minimums on withdrawals are about the same as the minimums on deposits, which are very convenient. Although the minimum deposit at the site is $10, one can start off as little as $5, using certain deposit methods.
The operation covers most of the common deposit/withdrawal methods, like various credit and debit cards, as well as various eWallets, like Skrill, Webmoney, Ukash and Liberty Reserve. The best way to determine which of these methods is right for a certain customer, is to just contact support and discuss the matter.
Normally, Binary.com withdrawals are processed within 24 hours, but they do have a 5-working day policy regarding withdrawals, so it’s safe to say one will get his or her money within 1-5 business days.
Through credit and debit cards, deposits are instantaneous and withdrawals take about 3 days. Bank wire is available for deposits/withdrawals as well. Bank wire withdrawal fees can be as high as $25.
It has to be noted that while Binary.com do indeed support a massive number of withdrawal and deposit methods, as well as currencies, not all these methods work with all the supported currencies.
Binary.com Review Conclusion
If you’ve made it this far in this Binary.com review, you’re probably aware that Binary.com may indeed be the best and most reliable binary option broker out there. They truly have every aspect of the operation aced: they offer superb minimums, they are keen on compliance and regulation, they have outstanding trading platforms and trading tools – not to mention a robot-builder only equaled by one other operator. Binary.com is a true one-stop trading destination. It covers every possible need of beginner as well as advanced traders, and more.