Binary.com Review: The Pioneers of Binary Options Trading
Binary.com, a well-established platform in the binary options industry, has been providing an exceptional trading experience to its users for over two decades. This comprehensive review will delve into the features, platforms, trade types, regulations, and overall user experience that Binary.com offers. Compare platform with pocket option.
Introduction to Binary.com review
Binary.com is a renowned online binary options and CFD trading platform that is owned and managed by the Regents Market Group. With over 2.5 million users worldwide, it provides a wide range of derivative products across various markets including forex, indices, commodities, cryptocurrencies and stocks.
The platform allows online trading on financial markets seamlessly, be it binary options, digital options, multipliers or CFDs. Traders can speculate on the latest forex pairs, indices and commodities without worrying about the legitimacy of the platform.
Binary.com’s History and Background
Binary.com platform has an intriguing history in the binary options trading industry. The company was initially known as BetonMarkets.com before rebranding to Binary.com in 2013 as part of an expansion plan to capture a larger slice of the financial trading market.
Today, with its head office located in Malta, it services more than one million clients from all over the world. Binary.com also has satellite offices located in Malaysia and Japan to serve local traders better.
Over the years, Binary.com has won numerous awards from major reviewers in the financial industry which are testaments to their first-class service provided to clients.
In terms of regulatory oversight, they are regulated by several authorities including the Malta Financial Services Authority under license number IS70156. This ensures traders can invest their money safely.
Binary.com’s Trading Platforms and Tools
This review opposes that Binary.com platform offers a variety of trading platforms and tools to cater to both novice and advanced traders. Let’s explore them in detail:
User-Friendly Web Platform
In the process of our binary.com review, we find it easy to carry out trade. However the web-based platform offered by Binary.com is simple yet powerful. It provides traders with all necessary information without any distractions or gimmicks found on other platforms, making it clear and unobstructed for traders to execute their transactions.
The asset lists are displayed clearly on the top with the trade types just below them. Traders can easily switch between different trade types like digital options, multipliers, lookbacks etc.
The platform is trimmed down to deliver only what a trader needs. For some traders, this minimal interface might seem too basic while others might appreciate the clarity.
Advanced MetaTrader 5
MetaTrader 5 (MT5), a newer offering from Binary.com that went live in summer 2019 is also available. The MT5 software delivers CFDs on forex, cryptocurrency and other financial markets while also providing modern features like:
- Advanced charting
- One-click trading
- Trading strategy testing tool
- Stop loss and limit orders
So if you are looking for an advanced platform with more features, MT5 is the way to go. The group is also constantly upgrading and enhancing the MT5 platform suite.
SmartCharts is an innovative proprietary tool by Binary.com that allows traders to visualize their trades on interactive charts. It aims to aid traders in making informed decisions by providing insights into market trends and patterns emerging in real-time.
With features like indicators, drawing tools and integrated trading, SmartCharts is useful for traders who rely on technical analysis for identifying trading opportunities.
Mobile Trading Apps
Binary.com platform has not forgotten traders who want to trade on-the-go. They offer a mobile trading app for Android users which provides the same functionality as the web platform. Traders can check their account status, keep an eye on open positions and execute trades easily using the app.
An iOS app is also in development stages and will be launched soon for Apple device owners.
Binary.com Account Types
Binary.com offers two main account types namely virtual accounts and real accounts. Read down binary.com review while we examine them in detail:
Practice with Virtual Account
Binary.com offers a free virtual or demo account preloaded with $10,000 virtual cash. It serves as a practice platform allowing beginner traders to test out strategies and get familiar with the trading platform, without risking any real money.
It also serves as a backtesting tool for advanced traders before they put their strategies into the financial markets with actual capital.
Trade for Real with Standard Account
Once you are confident enough to begin live trading, you can seamlessly upgrade your virtual account to a standard real account with just a click of a button. No additional documentation is needed if you already registered for a demo account earlier.
Unlike most binary options brokers which require a minimum deposit of $250 to open a real account, Binary.com has an extremely low minimum deposit requirement of just $5 making it more accessible to get started.
Traders can fund their accounts via debit/credit cards, various e-wallets and even cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
Binary.com’s Trade Types
Binary.com offers a diverse suite of trade types to cater to different trading styles and strategies. Let’s go through the main ones:
Digital Options binary.com
Digital options are simple yet powerful financial instruments where a prediction is made regarding whether the price of an asset will go up or down in a predetermined time frame. Payouts up to 100% are possible in case of correct prediction.
Multipliers allow you to trade on leverage while maintaining control over your risk exposure. They are essentially leveraged financial instruments with built-in stop-loss orders. Multipliers start at just $1 per point invested while providing leverage up to 1:1000
High Risk/Reward Lookbacks
Lookbacks allow you speculate on whether the market price will end up being higher or lower after a pre-set time period. If you predict correctly, you can earn up to $1 million for just a $1 investment.
CFDs (Contracts for Difference) allow you to speculate on rising and falling prices in global financial markets such as forex, indices, commodities, shares etc. without needing to own the underlying asset. Leverage up to 1:1000 is available for trading CFDs.
As evident, Binary.com offers a diverse suite of trade types to cater to different trading styles – from safe, low risk digital options to extremely high risk, high reward lookback options and everything else in between.
Binary.com’s Asset Classes
A key highlight of Binary.com is the vast assets available for trading including:
Binary.com offers 38 major and minor currency pairs via CFDs and 14 major pairs through multipliers. This allows forex traders sufficient opportunities to trade.
You can bet on rising and falling prices via CFDs across a range of US and European stocks like NASDAQ, S&P 500, DAX40, CAC40, FTSE100 and more. Extended trading hours are also available on popular indices.
Commodities like gold, silver, palladium and oil are available for trading under metals and energies CFDs.
Binary.com offers trading on 31 top crypto coins like Bitcoin, Ethereum, Litecoin, Dash etc. via CFDs with up to 1:2 leverage. BTC/USD and ETH/USD is also available via multipliers.
Binary.com offers 4 proprietary synthetic indices that simulate real-market movements but are available for trading 24/7. These indices offer variable levels of volatility catering to different trader risk appetites.
StocksA wide range of stocks are also available for trading via CFDs and multipliers. You can buy and sell stocks from renowned companies without needing to own them.
As evident, Binary.com offers trading across a gamut of asset classes, so traders have abundant opportunities to trade on financial instruments of their choice.
Is Binary.com Right for You?
Binary.com is suitable for both beginner and advanced traders for the following reasons:
- Extremely low minimum deposit requirement ($5) makes it accessible
- Demo account available for practice
- User-friendly web platform easy to understand
- Advanced platforms like MetaTrader 5 and SmartCharts
- Innovative trade types fit for different strategies
- Synthetic indices available with 24/7 trading
So whether you are starting out or looking to level up your trading, Binary.com has something for everyone.
Binary.com’s Regulations and Reputation
One of the main concerns traders have while selecting a broker is whether it is licensed and regulated. Binary.com allays these fears by being regulated by several authorities globally, including:
- Malta Financial Services Authority (MFSA) – Malta
- UK Gambling Commission – United Kingdom
- Labuan Financial Service Authority (LFSA) – Malaysia
Furthermore, Binary.com adheres to strict regulatory standards set by these bodies ensuring fair and ethical trading practices. The company segregates all client funds from its operational accounts and maintains them in separate bank accounts as per regulatory guidelines.
These regulations provide reassurance to traders that Binary.com is a legitimate broker that they can trust with their hard-earned money.
Pros and Cons of Binary.com
- Regulated broker ensures credibility
- Award-winning trading platforms
- Low $5 minimum deposit requirement
- Wide selection of assets and trade types
- Website translations could be better
- Customer support needs improvement
- High risk products have high leverage
So in summary, Binary.com shines when it comes to technology and innovation but needs to enhance its customer support experience.
Frequently Asked Questions
Here are answers to some commonly asked questions about Binary.com:
Is Binary.com properly regulated?
Yes, Binary.com is regulated by authorities like Malta Financial Services Authority, UK Gambling Commission amongst others.
What is the minimum deposit requirement?
The minimum deposit is just $5 making Binary.com easily accessible to beginners.
Does Binary.com offer a practice account?
Yes, Binary.com offers a virtual demo account loaded with $10,000 virtual funds to practice trading in a risk-free environment.
What is the maximum leverage they offer?
The maximum leverage across various trade types goes up to 1:1000 at Binary.com. Professional clients can get higher leverage.</p>
Binary.com Review Final Thoughts
Binary.com rightfully deserves the title of pioneers of binary options trading by offering an exceptional trading experience catering to traders of all skill levels for over 20 years.
With multiple regulations, award-winning platforms packed with innovative trade types and one of the lowest minimum deposit requirements – Binary.com checks all the right boxes you should look for in a binary broker.
So if you are looking to venture into online trading, Binary.com provides the right blend of features, platforms and asset classes to start your journey. Open a free demo account now and test the waters risk-free. Or trade with Raceoption.