Owned by Regents Market Group, Binary was first set up in 1999 and licensed in the Isle of Man and Malta. As one of the more established binary options brokers, Binary.com wasn’t always known by this name. In fact, until 2013 it was known as BetonMarkets.com. The rebrand was undertaken to capitalise and increase their share of a growing binary options market.
With offices in Malta, Malaysia and Japan, the company now has over 1 million registered accounts worldwide and handles approximately 15 transactions per second. The site is published in 12 languages to cater to their worldwide clients. These are English, Japanese, Chinese, Arabic, Polish, German, French, Spanish, Portuguese, Italian and Russian.
A multi-award winning trading platform Binary.com’s success is built on their flexible trading, simplicity, sharp prices, trust and security. With over 2 billion dollars traded to date and their commitment to providing a first class client service, they have managed to maintain their position while many others have entered the market around them.
Unlike many brokers, there isn’t a menu of accounts to choose from, there are just Virtual and Real accounts.
- Virtual Account
When you visit the desktop or mobile site, you are encouraged to open an account, but it’s a Virtual Account, not a Real Account. Follow the steps to open an account, and you are asked to enter a verification code sent by e-mail to complete the process. Once you have done this, you have your very own live Binary.com demo account with $10,000 to practise with. A Virtual Account or “demo account” as they are also known to allow the novice trader to practise and get used to trading binary options before risking their own real money.
- Real Account
Once you have got to grips with the platform via your Virtual Account, you can then open a Real Account with as little as $5. This low deposit amount is much more accessible than other binary options brokers who require a minimum of 250 dollars and is a contributor to their popularity with so many account holders. It’s a swift and easy process to open a Real Account, and with a few simple details within minutes, your account is live, and you are ready to trade. There is a menu box that allows you to move between your Real Account and your Virtual Account and to stop you getting carried away you are asked if you would like to receive an update or “reality check” and at what intervals.
Trade Types And Payouts
The payout percentage changes in real time for all trade types. Unlike other brokers that may state a payout of 85% for a simple binary call/put trade the Binary.com platform updates as you watch. Second, by second the payout amount rises and falls, allowing you to pick when to make your trade. As an indication, the trader can expect to achieve a return of around 85-86% for a successful trade. The minimum trade amount is just $5, which makes this a decent beginner broker.
As with many of its peers, the Binary.com platform offers the following types of trades.
- Call/Put Trades
This trade type has two options. Rise/Fall or High/Low; A simple prediction of whether the asset will rise or fall in price in the allotted time.
- Touch/No Touch Trades
Profits are much higher with the type of trade with a return of around 1,000%. Again it is difficult to predict the exact return as the prices change in real time.
- In/Out Trades
With In/Out trading, there are two options. Ends In/Out or Stay In/Goes Out with returns again of around 1000%.
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.
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 and trading software, 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
Binary.com has integrity as one of its core values, with the idea that the company should always opt for the right thing. This extends to serving customers with transparency and honesty, communicating using easy-to-understand plain language, and settling contracts by the book.
The broker also values teamwork, with an emphasis on positive team players that work together so they can achieve common goals and overcome challenges. Binary.com values competence, choosing to work with people who are talented and smart as well as willing to get things done.
Finally, Binary.com has a strong customer focus. It always puts its customers first. Additionally, the broker dedicates itself to creating services and products that provide those customers with the best possible trading experience.
Thanks to Binary.com’s patented pricing technology, clients are able to enjoy the same return rates as traders within the interbank market. This means real-time prices that are benchmarked against the interbank options markets. Clients do not have to deal with any hidden commissions or fees. They also get returns of more than 100 percent on simple rise/fall contracts, as well as returns above 1,000 percent on touch/no-touch and higher/lower trades.
Binary.com does its best to make it simple for customers to trade however they want, regardless of their market strategy. You can trade all the major indices, currencies, commodities, and volatility indices. When setting up a trade, choose your trade type, the market, the trade duration (between 10 seconds and 365 days), the strike, the barriers, and the payout (between $1 and $50,000).
Tick Trade App
The Binary.com Tick Trade App is perfect for beginner traders who want to be able to trade their binary options while on the go or from a smartphone or tablet. The interface is sleek and responsive, making it quick to choose your trading preferences. You can choose a market and an underlying asset, including volatility indices assets and forex currency pairs. Use the application to designate your chosen type of binary trade, such as Up/Down or Digit Match/Differs. Via the app, you also set the pace of your trade, between five and 10 ticks. Finally, choose the amount you prefer for the stake or payout, so you can control the risk to meet your needs. This application supports English, Indonesian, and many other languages. However, it is not available in every country.
How to open an account with Binary.com
It is quite simple to open a trading account with Binary.com. You can sign up with your email address or social profile (Google and Facebook). The process is done in a few seconds and you get direct access to the trading platform. Now you can use the demo account with virtual money or continue the registration process.
For trading with real money and full access to all functions of the trading platform, verification is needed. You have to fulfill your account profile and upload personal documents that are checked by Binary.com. It depends on your country of residence which documents the broker needs to check your identity. Binary.com can request a copy of your passport and utility bill.
Verification of your identity:
- As regulated Forex Broker, the company have to check your identity
- Documents can be requested by Binary.com
- The account setup depends on you country of residence
- Upload the requested documents
- The full account setup take few minutes time
- We recommend doing the verification before trading with real money
The account setup is done in a few minutes. Just insert your personal data and upload the requested documents. Binary.com will confirm the profile within 24 hours. We recommend doing a full account setup before you start trading with real money.
Payment methods for the account funding
As you see on the official homepage of Binary.com there are more than 15 payment methods available for deposit and withdrawals. It is easy to fund your account. You can use different electronic methods or classic bank transfer.
Facts about the payment methods:
- Minimum deposit 5$
- No fees
- Credit Cards
- Electronic wallets (Neteller, Skrill, Qiwi, WebMoney, and more)
- Bank Transfer
- Instant deposits
- Withdrawals in 1 working day
Sometimes the payment method can depend on your country of residence. So do not be surprised if there are more or fewer payment methods available than in the list below or picture above. Note that the minimum deposit is 5$ with e-wallets but with other payment methods it can be higher.
To do a deposit on Binary.com go to the cashier menu and click on deposit. You only can deposit if your personal detail is approved by the broker. Deposit checklist:
- Make sure your personal details are confirmed by the broker
- Go to the cashier menu
- Click on deposit
- Choose the payment method for the deposit
You can deposit in different currencies. Also, cryptocurrency accounts are available with Binary.com. If you make a mistake by setting the currency it is possible to change it afterward. The withdrawals are easy as the deposits with the broker Binary.com. In the cashier menu, you can choose “withdraw” to pay out your earned money. Note that you can set up a different security password for the cashier menu.