Binary.com is a Malta-based brokerage firm which has been in the business since 1999. They are regulated by the Gambling Supervision Commission in the Isle of Man and the Malta Gaming Authority and have over 300,000 international clients. Is this broker an ideal choice for trading binary options? Continue reading this review to find out.
Demo Account: Real-time quotes
The free demo account has a $10,000 opening balance and does not expire. It runs just the same way as a live account which means you can fully try out different trading strategies on actual market conditions without the need to use real money.
Bonuses: Account manager’s decision
They do not have fixed bonuses and this will be based on the decision of the account manager. This can be discussed over the phone when they call after the registration process so make sure to bargain in order to get the best deals.
Platform: In-house technology
They use a proprietary platform which they have developed using their own technology. It’s a little different in terms of the layout and structure but it’s a lot easier to use because it’s much simpler and more responsive than majority of the online trading platforms that we’ve tested.
Mobile Trading: For those on-the-go trading
You can trade via their Tick Trade app which can be installed on mobile devices that are powered by iOS or Android.
Tradable Assets: Stocks not available
Currently they have a total of 115 assets on the platform which is above average. What we’ve noticed though is that they do not offer stocks but they do have other categories including forex, indices, commodities, smart indices and random markets.
Minimum Trade: As low as $1!
One of the biggest advantages of this broker is that they allow a minimum trade size for as low as $1. This gives traders the freedom open positions with investment amounts that they are most comfortable with.
Payout Rate: More than 100% on standard contracts
In terms of payouts, Binary.com tops the list with returns of more than 100% on simple Up/Down contracts and up to 1,000% on Touch/No Touch trades. Such numbers are one of the highest that exists in this industry.
This standard option has a variety of duration or expiration ranging from 10 seconds to 365 days. What’s also unique about this instrument is that you can set your desired payout from $1 to $50,000.
With this option, you need to to predict whether the underlying asset’s value will touch a specified price level within the expiry time or not and returns can go for as high as 1,000%
Using this instrument, you need to speculate if the value of the underlying asset will be in between or out of the two price targets.
Deposit and Withdrawal
Minimum Deposit: Extremely low
We’ve never known any other broker that requires a low minimum deposit as Binary.com. At $5, you can instantly sign-up for an account and start trading live on their platform. Such leniency is definitely one of their strongest advantages.
Deposit Methods: Wide variety of choices
This broker accepts a range payment options including Visa/MasterCard, Bank Wire, Western Union, Clikandbuy, OK PAY, CashU, Fasapay, PerfectMoney, Skrill, Neteller, Monetaau, Webmoney, Ukash, Instadebit, QIWI and Paysafecard. Additionally, they also accept funding via cryptocurrencies such as Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
Withdrawal Processing Time: As fast as 24 hours
Withdrawal requests easily get processed and can be done in as fast as 24 hours. We never experienced any delays when we tried cashing out our money and it only took less than a week to see the funds back on the banking method that was originally used for funding the account.
Channels: No live chat
They do not have a live chat support and the available option to contact the customer service team is via phone and email.
Availability: All day and night
They can be contacted anytime because they are available 24/7.
Supported Languages: Plenty of choices
They support a variety of languages including English, German, Spanish, French, Indonesian, Italian, Japanese, Polish, Portuguese, Russian, Thai, Vietnamese and Chinese
Average User Rating: 9.4
This score was provided by various users and its value is taken from the accumulated votes that were given by actual traders who have tested this broker.
Platform Design: Simple and very easy to get used to
Since they are running their own platform, they are also using their own design which is an improvement from the common designs that you’ll see online. It’s conveniently easy to use and navigate thanks to its very basic and simple layout.
Support: Resolves issues with very fast handling times
Although there’s no live chat for immediate communication, their support is always straightforward and never goes around the bush with their answers. They also resolve issues with very fast handling times.
Reputation: Has over a decade of good track record
They have been providing financial trading services to over 300,000 international clients since 1999 which is a solid confirmation that they are stable and can be trusted. Aside from this fact, their company is fully licensed and regulated by Isle of Man Gambling Supervision Commission, the UK Gambling Commission, the Malta Financial Services Authority and the Malta Gaming Authority.
Editor Rating: 94
Binary.com runs a well-developed trading platform that covers a variety of markets with competitive prices and offers a variety of charting tools that allows their clients to make more successful trades. Their active license and years of proven track record in the industry makes them a highly stable and trusted binary options brand.