Binary.com is certainly one of the most influential binary brokers in the industry.
It is also one of the oldest, being founded in October of 1999, and considering it is still going strong it seems pretty valid to conclude that there is a reason for that.
According to Binary.com website, their traders have the choice of trading commodities, currencies, indices and stocks for 24 hours, seven days a week.
They are also equipped with a very comprehensive group of products that are oriented toward all types of traders.
With this broker review we will give you an overview of all their most important features and tools, and hopefully, you will be one step closer to choosing your preferred binary options broker.
Binary.com claims to have a deep commitment to high ethical standards, coupled with a vast trading experience. This broker has over 1 million registered accounts worldwide with an average number of 15 executed transactions per second, all day, every day.
Obviously, one of the very first steps you need to do on your path of becoming a binary options trader with Binary.com is to open an account. This is a very simple process that only takes a few minutes. There is also no need to send any documents while opening an account as, per the website statement, they can verify your identity online.
Binary.com a demo account, or what they call a virtual money account. It is a free $10,000.00 virtual account that enables the traders to start learning to trade in a risk-free environment. This is a great option even for experienced traders who have not yet traded with Binary.com as they can use the demo account to find out if this broker is the right fit for them. Traders can start trading real money as soon as they deposit funds with the broker after opening an account.
Binary.com also has a huge selection of educational materials on their website under the category Academy, under which, among other, there is an educational center with a vast array of topics covered:
- Training Videos
- Commodities Corner Videos
- Commodities Corner
- Mellon on the Markets
- Security Tips
- Webinar Videos
- Weekly Market Update
- Weekly Trading Signals
- New to trading?
- Educational Videos
An interesting subsection is certainly that of webinars, which is an amazing way to further your knowledge and understanding of binary options trading. All the information concerning when the webinars are taking place and who is hosting them, are directly on Binary.com website.
The trading platform at Binary.com is a proprietary platform which implies that it is custom made by the company, and delivered to their traders with a diverse range of tools and features.
This part of Binary.com review will help traders read more not only about Binary.com platform but also about different binary options types and expiry times. Knowing the platform you trade on, can be one of the major advantages during the binary trading process, as you reduce the chances to make mistakes just because you don’t know how to use features offered.
Binary Options Types
There are five main types of trades that you can choose to use in order to execute your financial and investment strategy:
Up/Down – these trades are divided into Rise/Fall and Higher/Lower types. Both predict the price fluctuation, whether rise or fall from a current level, or higher or lower from the price target.
Touch/No Touch – prediction on whether the price will touch or not touch a boundary price within a time frame.
In/Out – this option also has two types. Stays In/Out marks staying inside or outside of the price boundaries at any time during the contract, while Ends In/Out marks the stopping of the price inside our out at the end of the contract.
Asians – this option has an Up tangent that predicts the market price will finish higher than the average, while Down predicts finishing lower than the average price.
Digits – as the name says, this option refers to the last decimal of the spot price and is divided into three types of trades: Matches/Differs, Even/Odd and Over/Under.
As all binary options traders know, the value of an option comes directly from the value of an underlying asset. But when we’re talking about binary options as opposed to a more traditional financial trading, here you are not actually buying an asset itself, but only the contract that sets the parameters on how the asset performs in predetermined conditions.
At Binary.com there are five types of markets where you can find your chosen assets to trade with:
- Currencies that offer all major Forex pairs
- Indices include all major stock indices
- Commodities include commodities such as gold and oil
- OTC stocks
- Volatility indices which refer to Binary.com’s proprietary indices
As it is pretty evident from everything that the Binary.com offers that the opportunities for traders are very widespread. The course of action is dependent only on traders individual preferences and style of trading.
Trading Platform Types
Binary.com has a selection of various platform types that are on offer for traders to use. Platforms are divided into two major groups; Basic platforms and Advanced Platforms.
Basic platforms refer to the essential Binary.com online platform that offers all the tools and features necessary for potentially successful trading. Any type of trader will find all they need in this versatile, user-friendly platform. Basic platforms also include a Binary Tick Trade App which is developed to be used specifically on smartphones to allow traders to trade on the go.
As far as Advanced platforms go, there are four distinct types:
- MetaTrader 5 which is a CFD trading platform
- Binary Webtrader which features an advanced trading interface
- Binary Next-Gen which is a next generation trading app for web and mobile
- Binary Bot that allows traders to create their own trading app with a drag and drop tool.
As we mentioned before, all of the Binary.com platforms are very easy to use with a modern, clean interface and intuitive layout. Traders will have no issues getting accustomed to this platform as it was designed to minimize the confusion and complications during trading processes.
While in the process of writing this review, we have come across a whole page on Binary.com dedicated to warning traders about trading risks, which include the dangers of developing an addiction. Binary.com offers advice on how to take care of yourself in a trading setting and how to make sure to avoid gambling dangers. What is probably the most refreshing is the option of contacting customer support if you wish to set limits on your own trading activities or you can even opt to self-exclude.
Customer support can be reached via several means such as email, live chat or phone. There are eight phone numbers available for customers: Australian, German, Canadian, Indonesian, Irish, Polish, Russian and UK.
As far as we could gather the staff is very professional and eager to help. Their information is accurate and without any complications, which we feel is a very important characteristic in a business such as binary options trading.
Binary.com has offices located in Malta, Japan and Malaysia with regulations and licensing extending to Malta, the United Kingdom, the Isle of Man, Ireland, and Japan.
This binary options trading platform has served clients across the globe since 1999, with, as referenced on their website, high ethical standards, and regulatory requirements.
As far as banking options go, Binary.com processes all your deposits and withdrawals within 24 hours with the exception of bank or money transfers, which may take longer. There are several means of banking available:
- Bank wire/Money transfer
- Credit/Debit Cards – Visa, Mastercard, UnionPay
- E-cash services such as Skrill, Neteller, WebMoney and more
While writing this review we have come to realize that Binary.com in addition to being one of the oldest binary brokers in this industry are also very versatile when it comes to features and tools that are at the trader’s disposal. We urge all traders to get accustomed with basics of binary options trading so you can maximize your profit chances and create financial strategies that will reflect your ambitions as a trader.