Binary.com Review

The arrival of binary options trading has opened new avenues for generating cash and hedging risk. Interestingly, speculative assets of all kinds can be traded in the binary options market.

However, amateur traders and experienced professionals find it challenging to identify trustworthy binary brokers. In this regard, Binary.com claims to stand apart from others both in terms of investors’ safety and assets being offered.

In this article, our team will assess how the binary broker fares in providing a regulated trading environment, advanced platform features, a wide range of assets, secure deposit and withdrawal methods, and the safety of clients’ funds.

Licensing & Regulation

Binary.com is a brand owned and operated by the group of companies owned by Binary Group Ltd. The website, facilitating users to trade indices, currencies, commodities, etc., came into operation in October 1999. The holding company, Binary Limited has registered office at 47 Esplanade, St Helier, Jersey JE1 0BD, Channel Islands.

To manage the business efficiently, the binary broker has set up offices in various financial centers across the globe. In Malta, the subsidiary of Binary Group operates under the name Binary Investments (Europe) Ltd, with an office at W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta. The firm is licensed and regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority (license no. IS/70156).

In St. Vincent and the Grenadines, the company operates under the name Binary (SVG) Ltd, with an office at Hinds Buildings, Kingstown. The company’s registered number is 25299 BC 2019.

In the Republic of Vanuatu, the company operates under the name Binary (V) Ltd, with an office at Govant Building, Port Vila, PO. Box 1276. The company is regulated by the Vanuatu Financial Services Commission.

In the British Virgin Islands, the company operates under the name Binary (BVI) Ltd, with an office at Kingston Chambers, P.O. Box 173, Road Town, Tortola. Binary (BVI) is regulated by the British Virgin Islands Financial Services Commission (license no. SIBA/L/18/1114).

In Malaysia, the company operates under the name Binary (FX) Ltd., with an office at F16, First Floor, Paragon Labuan, Jalan Tun Mustapha, 87000 Federal Territory of Labuan, Malaysia. Binary (FX) Ltd. is the Labuan Financial Services Authority (license no. MB/18/0024). The company is allowed to carry on a money-broking business.

The binary broker has offices in Malaysia, Malta, Paraguay, and the UAE. With regard to the opening of a trading account, the company suggests residents of the UK and the European Union open accounts with Binary Investments (Europe) Ltd.

In the rest of the world, including Australia and excluding the residents of the USA, Canada and Hong Kong, accounts will be opened with Binary (SVG) Ltd, Binary (V) Ltd, Binary (BVI) Ltd and Binary (FX) Ltd.  Notably, Binary.com platform is not offered in the Republic of Vanuatu, British Virgin Islands, and Malaysia. Only Forex and CFDs are offered to traders in these countries through MetaTrader 5 platform.

Accounts, Trading Platform & Features

Before opening an account, a trader will look at the website, trading platforms offered, and its features.  The binary broker offers its website in 9 languages (English, Spanish, French, Italian, Polish, Portuguese, Russian, Vietnamese, and Chinese).

Binary.com offers a custom-built platform for trading binary options. For currency pairs, commodities, and synthetic indices, the binary broker offers the popular MetaTrader 5 platform. Notably, Binary.com provides a no-strings-attached demo account to allow traders to get their feet wet and have a feel of the trading platforms.

Platforms

The debt-free binary broker offers a range of platforms for beginner and professional traders:

Beginner traders

• Deriv (beta) – the feature-rich desktop platform has been designed for easy use by beginners. It handles over 200 million transactions with a turnover of more than $ billion a year. This platform is still in its beta phase. Being a customizable and intuitive platform, it enables easy access to favorite international markets, quickly monitors open positions, facilitates easy adjustment of trade parameters, and offers built-in reports. It also provides advanced charts, indicators, and drawing tools, while allowing asset comparison. Both dark and light themes are offered.
• Smart Trader – Simple and user-friendly online trading platform facilitating trade in the global financial markets (Forex, commodities, indices, and synthetic indices). It enables a trader to select the nature of a contract quickly (up/down, touch/no-touch and in/out). The platform is ideal for tablets.

Professional traders (desktop)

• MetaTrader 5 – almost considered a global standard for trading currencies and CFDs. The platform offers extremely advanced charting, analysis, and trading features.
• Binary Web Trader – offers advanced binary options trading interface, including a full-screen trading interface. The platform also enables tailor-made loading and arranging of assets and other resources as required by a trader. Even charting is customizable. The strong and safe platform is accessible from any web browser in 13 languages.

Beginner traders (mobile)

• Tick Trade Android App – primarily intended for a trader on the move. The ultra-responsive interface enables easy selection of trade preferences. It also facilitates quick selection of a market and underlying asset, from currency pairs to commodities. A trader will also be able to easily choose a type of binary trade and allocate funds for the contract purchase.

Binary Bot

The ‘drag and drop’ tool enables the automation of trading strategies quickly.

Account Options

Binary.com offers three types of MetaTrader 5 accounts, catering to the needs of both beginner and professional traders.  The account currency is US dollars in all kinds of accounts. Similarly, there is no minimum deposit requirement in all cases. As the commission is built into the spread, and the broker does not charge any fee while trading in the MT5 platform.

Standard

It is aimed at beginner traders. More than 50 assets (Forex majors/minors, commodities, and cryptocurrencies) are offered for trading. Leverage of up to 1000:1 is offered. Both standard (1) and micro-lots (0.01) can be traded. Notably, the spread is variable and changes as per market conditions. The binary broker will send out a margin call when the deposit balance falls below 150%. Liquidation (stop out) of positions can be carried out when the deposit balance falls below 75%.

Advanced

It is aimed at traders who are focused on currency pairs. More than 50 assets (Forex Majors, Minors, and Exotics) are offered for trading. Leverage of up to 100:1 is offered. Similar to the ‘Standard’ account, the spread is variable for the ‘Advanced’ account. Margin and stop out levels are 150% and 75%, respectively. Cryptocurrency trading is not offered.

Synthetic indices

As the name says, the account is for synthetic indices traders. Synthetic Indices are financial instruments that are structured to simulate other instruments while modifying crucial characteristics. The modification is done using random numbers generated by a computer program.

Binary.com, for the sake of transparency, has no control over the generation of random numbers. While the broker offers a leverage of up to 1000:1, only 10 assets (Volatility 25 index, Volatility 50 index, bull market index, and bear market index etc.) are listed for trading. Furthermore, the spread can be variable or fixed depending on market scenario. The margin call and stop out levels are 100% and 50%, respectively. The account does not permit trading in cryptocurrencies.

Binary trading

Binary.com is popular for facilitating binary options trading via Deriv (beta), Smart Trader and Web Trader platforms. There are no limitations in binary trading. A trader can quickly enter into a contract by choosing the market, trade type, barrier, and duration. Depending on the risk profile, a trader can input the stake.

Binary.com offers the following kind of options:

Up/Down

• Rise – a payout is made when the price at expiry is higher than the entry price.
• Prevailing price at the time of purchase of contract is the entry price.
• Fall – a payout is made when the price at expiry is lower than the entry price.
• Higher – a payout is made when the price at expiry is higher than the barrier price set at the time of contract purchase
• Lower – a payout is made when the price at expiry is lower than the barrier price.

Touch – a payout is made if the price of an asset touches the barrier, set at the time of purchasing a contract, at any time during the duration of a contract.
No Touch – a payout is made if the price of an asset fails to touch the barrier, set at the time of purchasing a contract, at any time during the duration of a contract.

In/Out

• Ends Between – a payout is made when the price of an asset, at expiry, stays above the lower barrier and below the higher barrier set at the time of purchasing a contract.
• Ends Outside – a payout is made when the price of an asset, at expiry, stays either below the lower barrier or above the higher barrier set at the time of purchasing a contract.
• Stays Between – a payout is made if the market does not touch and stays between the lower and higher barrier set at the time of purchasing a contract.
• Goes Outside – a payout is made if the market touches either the lower or higher barrier set at the time of purchasing a contract.

Asians

• Asians Rise – a payout is made if the last tick price is higher than the average of the number of ticks input at the time of purchasing a contract.
• Asians Fall – a payout is made if the last tick price is lower than the average of the number of ticks input at the time of purchasing a contract.

Digits

• Matches/Differs – a payout is made if the last digit of the last tick price is the same as predicted by a speculator. A trader needs to input the number of ticks and last digit forecast, after selecting the fiat or cryptocurrency.
• Even – a payout is made if the last digit of the last tick price is an even number.
• Odd – a payout is made if the last digit of the last tick price is an odd number.
• Over – a payout is made if the last digit of the last tick price is greater than the forecast.
• Under – a payout is made if the last digit of the last tick price is lower than the forecast.
• Reset Call – a payout is made if the exit price of an asset is strictly higher than either the entry spot or the spot at reset time.
• Reset Put – a payout is made if the exit price of an asset is strictly lower than either the entry spot or the spot at reset time. At reset time, if the price is in the opposite direction of forecast, the barrier is reset to that spot.
• High – a payout is made if the tick value is the highest among the next five ticks.
• Low Ticks – a payout is made if the tick value is the lowest among the next five ticks.

Lookbacks

• High-Close – a payout equivalent to the multiplier times the difference between the high and close over the duration of the contract is made. The contract duration and multiplier value needs to be selected by a trader.
• Close-Low – a payout equivalent to the multiplier times the difference between the close and low over the duration of the contract is made.
• High-Low – a payout equivalent to the multiplier times the difference between the high and low over the duration of the contract is made.
• Call Spread – maximum payout is made if the price of an asset at the time of expiry is higher than or equal to the upper barrier. If the price at the time of contract expiry is between lower and upper barrier, a payout in proportion to the difference between exit price and the lower barrier is made.
• Put Spread – maximum payout is made if the price of an asset at the time of expiry is lower than or equal to the upper barrier. If the price at the time of contract expiry is between lower and upper barrier, a payout in proportion to the difference between lower barrier and exit price is made.
• Only Ups – a payout is made if consecutive ticks rise successively after the entry price level.
• Only Downs – a payout is made if consecutive ticks decline successively after the entry price level.

Fees & Commissions

In the case of Forex, CFDs, and Synthetic indices traded via MT5, Binary.com generates profit by including its fee within the spread. The broker does not charge any other fees.

In the case of binary options, Binary.com makes money when a trader loses a bet. Binary.com is the counterparty to all trades. With over a million accounts, the platform processes more than 20 transactions per second. The broker continues to generate profit because of two reasons. At any given point in time, there will be two views regarding the trend of an asset. The broker will be able to offset one trade with another. Secondly, the percentage of success will be less than 50% in binary options due to the risk nature of derivatives. That enables the company to pay successful traders while pocketing a profit for themselves.

Promotions

The company offers a bonus on initial deposits made by a client. The bonus amount may differ from time to time. The bonus will be processed and credited to a client’s account when both of the following conditions are met:

• The required minimum deposit has been made by the client.
• The client has reached a turnover that is 5 times the bonus amount.
• The client is allowed to withdraw the bonus amount after exceeding an account turnover of 25 times the bonus amount value.
• If the account is funded purely through a bonus code, the bonus amount plus any winnings will be allowed to be withdrawn only after the client exceeds an account turnover of 25 times the bonus amount value. In such cases, only 25x the bonus amount will be allowed to be withdrawn.

Banking Options

For a Forex or binary options broker to be successful, multiple modes of deposit and withdrawals should be facilitated, as traders across the globe can then be served without any complications. Binary.com has clearly understood that a mode of payment popular in one part of the world may not be so in another. That is why it is providing numerous options for a trader to deposit and withdraw funds.

Deposits

The following modes of deposit are supported by Binary.com. Even though Binary.com facilitates trading with just $1, depositing such a small amount is not practically feasible in certain modes of payment.

• Bank Transfer (wire) – deposits ranging from 500 (min) – 100,000 (max) can be made in USD, GBP, EUR, in addition to Australian dollar. Deposits will be credited in a day.
• Online bank transfer – deposits ranging from 25 (min) – 10,000 (max) can be made in USD, GBP, and EUR. Deposits will be credited in a day.
• PayTrust – Instant US dollar deposits ranging from 25 (min) – 10,000 (max) can be made.
• Visa, Mastercard, Maestro – instant deposits ranging from 10 (min) – 10,000 (max) can be made in USD, GBP, EUR, in addition to the Australian dollar.
• Fasapay – instant deposits ranging from 5 (min) – 10,000 (max) can be made in US dollar.
• Perfect Money – instant deposits ranging from 5 (min) – 10,000 (max) can be made in US dollar and the euro.
• Skrill – instant deposits ranging from 10 (min) – 10,000 (max) can be made in USD, GBP, EUR, in addition to Australian dollar.
• Neteller – instant deposits ranging from 5 (min) – 10,000 (max) can be made in USD, GBP, EUR, in addition to the Australian dollar.
• Web Money – instant deposits ranging from 5 (min) – 10,000 (max) can be made in US dollar and the euro.
• QIWI – instant deposits can be made in US dollar and the euro. For US dollar deposits, the minimum amount is 5 and the maximum is 200. For euro deposits, the minimum amount is 5 and the maximum is 150.
• Paysafe card – instant deposits ranging from 5 (min) – 1,000 (max) can be made in USD, GBP, EUR, in addition to the Australian dollar.
• Jeton – instant deposits ranging from 5 (min) – 10,000 (max) can be made in US dollar and the euro.
• iwallet – instant deposits ranging from 5 (min) – 10,000 (max) can be made in US dollar.
• Sticpay – instant deposits ranging from 5 (min) – 1,000 (max) can be made in USD, GBP and EUR.
• airtm – instant deposits ranging from 5 (min) – 2,500 (max) can be made in US dollar.
• Bitcoin, Ethereum, Litecoin, Tether – No minimum. The amount will be credited after three blockchain confirmations.

Withdrawals

Binary.com supports the following withdrawals, subject to certain terms and conditions as explained below:

• Bank Transfer (wire) – withdrawals ranging from 500 (min) – 100,000 (max) can be made in USD, GBP, EUR, in addition to the Australian dollar. Withdrawal requests will be processed in a day.
• Online bank transfer – withdrawals ranging from 25 (min) – 10,000 (max) can be made in USD, GBP, and EUR. Withdrawal requests will be processed in a day.
• Visa, Mastercard, Maestro – withdrawals ranging from 10 (min) – 10,000 (max) can be made in USD, GBP, EUR, in addition to the Australian dollar. Withdrawal requests will be processed in a day.
• Fasapay – withdrawals ranging from 5 (min) – 10,000 (max) can be made in US dollar. Withdrawal requests will be processed in a day.
• Perfect Money – withdrawals ranging from 5 (min) – 10,000 (max) can be made in US dollar and the euro. Withdrawal requests will be processed in a day.
• Skrill – withdrawals ranging from 5 (min) – 10,000 (max) can be made in USD, GBP, EUR, in addition to the Australian dollar. Withdrawal requests will be processed in a day.
• Neteller – withdrawals ranging from 5 (min) – 10,000 (max) can be made in USD, GBP, EUR, in addition to the Australian dollar. Withdrawal requests will be processed in a day.
• Web Money – withdrawals ranging from 5 (min) – 10,000 (max) can be made in US dollar and the euro. Withdrawal requests will be processed in a day.
• QIWI – withdrawals can be made in US dollar and the euro. For US dollar withdrawals, the minimum amount is 5 and the maximum is 200. For euro withdrawals, the minimum amount is 5 and the maximum is 150.
• Paysafe card – withdrawals ranging from 5 (min) – 750 (max) can be made in USD, GBP, EUR, in addition to the Australian dollar. Withdrawal requests will be processed in a day.
• Sticpay – withdrawals ranging from 5 (min) – 1,000 (max) can be made in USD, GBP, and EUR. Withdrawal requests will be processed in a day.
• airtm – withdrawals ranging from 5 (min) – 2,500 (max) can be made in US dollar. Withdrawal requests will be processed in a day.
• Bitcoin – A minimum of 0.00289811 Bitcoin can be withdrawn. Withdrawal requests will be processed in a day.
• Ethereum – A minimum of 0.02985342 Ether can be withdrawn. Withdrawal requests will be processed in a day.
• Litecoin – A minimum of 0.00289811 Litecoin can be withdrawn. Withdrawal requests will be processed in a day.
• Tether – A minimum of 25 Tether can be withdrawn. Withdrawal requests will be processed in a day.

Binary.com permits transfers between Binary fiat and cryptocurrency accounts up to a maximum of USD 2,500.00 or equivalent. Fiat and cryptocurrency transfers are also allowed between Binary and MT5 accounts.

• Under KYC (Know Your Client) guidelines, Binary.com requires the following documents to process a payout request:
• Proof of identity (ID card, passport, driving license)
• Proof of address (bank statements, utility bills)
• & Proof of wealth in some cases (payslips/bank statements)
• In case, the client is a resident of the UK, then an age verification document is needed even for opening a demo account. Before a real account is opened, a client should complete the KYC process.

A dormant fee of up to USD/EUR/AUD/GBP 25 or equivalent of USD25 in any other currency will be levied every 6 months in case an account remains inactive for 12 months.

Binary.com will not accept residents of Canada, Hong Kong, Israel, Jersey, Malaysia, Malta, Paraguay, the United Arab Emirates, the USA, or any other restricted country that has been identified by the FATF as having strategic deficiencies.

Even though the minimum option contract value is mentioned as $1, contracts offered by Binary Investments (Europe) Ltd have a minimum purchase price of USD/GBP/EUR 5.

Education Resources & Support

Binary.com offers a huge range of educational materials for a trader to steer through the complex financial markets. This includes introduction videos about stocks, Forex, commodities, binary options, and indices. To ensure trouble-free trading, there are videos explaining how to place a binary options trade. Additionally, videos on technical analysis of commodities and major economic data are provided regularly. Every Friday at 12.30 GMT (1.30 pm UK Time), live technical analysis and commentary sessions are conducted on YouTube by professional trader Phil Carr.

E-books for beginners and intermediates are offered for download. Webinars on technical analysis and trading of cryptos, Forex and commodities are conducted regularly for clients to enrich their knowledge. To ensure beginner traders understand trends perfectly, weekly market updates and trading signals are also provided.

Trading strategies and bots can be bought from the online shop. Some of them are free. The educational videos section also explains how to use the popular Meta Trader 5 platform (desktop and iOS).

Despite these educational materials, in case a trader faces any difficulty, the support team is on standby to assist immediately.

Before contacting the support team, the help content can be searched for any possible solution.  A ticket can be created using the online form.

• Alternatively, a client can contact the support team using the email address below:
• General support: support@binary.com
• Payments-related queries: payments@binary.com
• For urgent issues, clients can use the online chat facility or dial any of the following numbers:
• UK – +44 1666 800042, +44 800 011 9847 (Toll Free)
• Australia – +61 (2) 8294 5448 (Toll-Free)
• South Africa – +27 80 099 0561 (Toll-Free)

Conclusion

In general, traders wish to have a single platform or account to trade a range of assets. Furthermore, the safety of funds by the way of regulation and segregation of clients’ funds is very much preferred. Finally, the platform offered by the binary broker must be stable, customizable, while offering a bouquet of features. Binary.com meets all the requirements of a trader mentioned above and deserves a solid 5 out of 5-star rating for its stellar performance, support and extensive platform.