Formerly known as BetOnMarkets, Binary.com is a fixed odds financial betting broker existing in the market since 1999. The brokerage company is based in Isle of Man and Malta. Owned and Operated by Binary Ltd, the company serves approximately 1,000,000 clients till date. All their operations fall under the jurisdiction of Malta.
The main feature of Binary.com is its versatile, proprietary binary options trading platform based on the typical broker trading interface—crucial for trading. Their website provides truly useful input to trading. Their trading platform is good in terms of trading but doesn’t have advanced tools for analysis.
Is it a Scam?
No, we don’t think so. Being one of the most respected, multination corporations in trading, we don’t think that binary.com is a scam. All their operations are subject to the regulations of Malta and the Isle of Man. Traders can rely on the authorities to protect their legal rights.
If we check their website traffic history, we’ll find that the website receives huge traffic (up to 1.7 million until January 2017), which denotes they’re a legit business.
Trading Platform
The trading platform of Binary.com is different than other regular brokers. It has a deceptively simple interface with all basic functionalities. If you scroll down their home, you’ll find comprehensive charts and daily/intraday prices displayed on various tabs. The prices are accompanied by quotes and percentage change—something which is quite useful.
On a positive note, traders can compare information in the form of line charts, pop-up charts, legacy charts and interactive charts. Even their options differ from mainstream binary contracts and include the following options:
- Higher/Lower Option
Traders predict prices to end up lower or higher than the predetermined prices.
- Rise/Fall Option
The expiry price of a commodity is expected to fluctuate (rise or fall) from its current spot price.
- Touch/No Touch Option
Payouts are made when trade prices touch or don’t touch a preset price target.
- In/Out Option
The prices fluctuate between two price targets. You need to see in between or out of the price range.
- Tick Trade
Tick trade further covers—Lucky 10 digits, Quick 10% and Up/Down Traders. They work similar in case of 60 seconds options where the prices go in ‘5 ticks of price movements’.
Binary.com trading software deals in wide-ranging assets, such as Indices, stocks, forex and commodities. They also deal in Quotidians and Random Index market. Marked by a strong support system, the company people are available 24×7 from Monday to Friday. You can learn more about the trading software by calling, dropping a mail or chatting with the customer support team.
Trade Strategy
Binary.com follows a different strategy compared to other websites. The selection of expiry time is a unique process. Both the trading software as well as the platform offers great flexibility in terms of contracts and their expiry perhaps this why brokers favor binary.com. The firm delivers a range of advanced platforms (based on binary bot, MT4 and MT5 trader tools).
Bonus & Promotion Offers
The site offers unconventional bonuses to binary brokers, which are also available for new traders that register their brand new accounts. The bonus value differs from time to time and so will the trading volume.
As of now, the site offers 2 types of bonuses.
- Deposit Bonus: Which will be added to your account once you reach a turnover of 5 times bonus. Only then can you withdraw it.
- Free Bonus: It is available to new clients only. The maximum value offered under the ‘welcome bonus package’ is £ This type of bonus requires a turnover of 25 times before you can finally withdraw it.
Both offers contain specific terms and conditions attached with them.
Accounts on Offer
Both Demo and Normal trading accounts are available in case of binary.com, which is a good thing for new traders. Clients can start try their hand at virtual trading by opening a demo account and dealing with virtual money. Usually, many brokers require you to login and deposit money into your account before you can access their trading platform, but not them.
Once you’re comfortable with trading practices, you can open a live trading account by providing your details, getting account verified and depositing money in Euros, Dollars or Pounds.
Mobile App
Binary.com offers a strong mobile app—a unique trading platform optimized for each device and operating system. It maximizes your abilities and lets you access trading platforms anytime anywhere. The app is compatible with Android and iOS platforms.
Payout Ratios
The payout percent on trade varies from 60% to 110% (yet another distinguishing feature of Binary.com), based on what type of contract you’re dealing in. Check trading platform to find the current payout rate on the right side. The ratios fluctuate according to changing market conditions.
Regulations
Binary.com has strict regulations regarding assets, expiry times and returns. When trading, the customers can choose between 29 indices, 30 currency pairs, 5 commodities, 41 stocks and 10 volatility indexes. The expiry time of these assets is well defined under ‘Asset Index’.
Traders don’t need to pay any commission when opening account, except in the case of Tick Trades, where the commission is 1.5% on payout. However, it’s easy to get high returns (as high as 90%) on your trades. In some cases, tick trades offer greater returns (over 100%).
Deposits can be made using e-wallets, credit cards and debit cards. The minimum deposit value is £10—a fair amount to start your trade with.
Availability in Different Countries
The platform is intuitive and available in 12 different languages. The main language for charts and market analysis is English. The website offers a demo (free virtual money account) for first-time traders. Due to legal restrictions, the website doesn’t extend its operations to Hong Kong, US and Costa Rica.
Final Verdict
What’s Hot?
- The availability of demo account
- Flexible trade contracts
- Advanced charting tools
- Flexible trading conditions
- Comprehensive list of assets
- High returns on trade
- Excellent customer support service
- Low minimum deposit requirement
- Long operational history
Why do we recommend Binary.com?
We recommend Binary.com because it has simplified the process of account opening for its clients. With its unique trading platform, advanced charting tools and long operational history, the website gives you the peace of mind to trade with an open mind.
Why Does it Suck?
The website shares similar characteristics with a betting company. We aren’t against trading but gambling is different from trading and it should be kept like that. Talking about customer service, it is quite slow. However, things have significantly improved since BetonMarkets. We look forward to see more changes in the future.