BinaryCM or Binary Capital Markets is a brokerage that is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the International Financial Services Commission of Belize (IFSC). They are also registered with the Financial Conduct Authority (FCA) in the UK, the Commissione Nazionale per le Società e la Borsa (CONSOB) in Italy and the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in Germany. It’s actually a rarity in the binary options market today to see a brokerage having a license or registration from more than one financial regulator. Does this mean that they should be your primary broker of choice? If you want to know the answer, please continue reading this review.
Demo Account: Free to test
A practice demo account is available for you to use for see so you can test your strategies and have the opportunity to familiarize yourself with the platform without risking real trading funds.
Account Types: Basic, Silver, Gold and Premier
There are four different account types which have different perks based on the amount that you deposited. Among the perks included include free access to their education library, a binary options e-book, a complete risk management plan, a BinaryCM rewards plan, access to their daily market reviews, free trading signals from Trading Central (a third party provider), a free 1-on-1 educational course, free monthly webinars, free trading alerts and event analysis, higher trading limits and access to the premium trading room.
Platform: Streamlined for trading
It’s interesting to see a platform that has been fully enhanced for trading and not just copied from other brokerages. During the entire testing phase, no bugs or lags were experienced and accessing the menus were just a breeze as everything can be seen on the main page.
Mobile Trading: All bases covered
Trading via smartphones at tablets is possible thanks to their mobile applications which can be installed on Android and iOS-powered devices. They also have a dedicated mobile site for those who wish to trade using a mobile web browser.
Tradable Assets: 70+ choices
More than 70 assets are available and these are comprised of indices, commodities, currencies and stocks. It’s close to the average range but the advantage is that most of the assets are the hottest and the most traded ones in the market.
Minimum Trade: Only $10 for a single option
A minimum trade size of $10 can be placed for a single Call or Put option and this is a great advantage because you will be able to have more control on the amount that you can invest on each option that you execute.
Payout Rate: Substantial yields
The maximum return that you can get from the standard Binary Options instrument is 90%. This is actually a good rate since most brokerages only pay around 80% for options that expire in the money.
The classic Call/Put option type is on the one of the first tab of the platform.
This is the option type to choose, if you wish to trade Binary Options with longer contracts from a few days to a few months.
If you want trading on the fast lane with contracts rapidly expiring in just 60 to 300 seconds then the 60 Seconds instrument is for you.
One Touch trading is also available for those who want greater returns but it is important to keep in mind that this also entails bigger risks.
Deposit and Withdrawal
Minimum Deposit: $250 to open an account
The $250 minimum deposit is practically the same as the requirement of many brokerages today so this is already a good deal. One a side note, it would be wise to consider availing the higher account types if you want to avail more perks and benefits.
Deposit Methods: Quick and secure options
You can deposit funds to your account quickly using various secure payment methods. This includes various credit and debit card brands, Bank Wire, NETELLER and Bitcoin. You may also deposit by phone by calling their toll-free number (+644-830-33-51).
Withdrawal Processing Time: Same day processing possible
Withdrawals are returned via the same payment method that was initially used for making the deposit and all requests are subject for full verification. For credit and debit cards, Bank Wire and Skrill/ Moneybookers, the processing time may take up to 7 working days but if you’re a VIP account holder then you will have the luxury of benefitting from the same day withdrawal approvals.
Channels: Phone support and more
If you wish to get in touch with their support agents, you may do so via the toll-free local phone numbers, email and live chat.
Availability: 24/7 assistance
Regardless of your account type, you will be able to experience 24/7 customer service from this brokerage.
Supported Languages: Different tongues
While their website is only available in English, they have customer support representatives that speak Spanish, Chinese, Thai and Arabic.
Average User Rating: 8.7
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: Fully customized for a better browsing experience
What makes them superior over their competition is that they have done an amazing job in fully customizing their platform making it much better to use especially for beginners.
Support: 24/7 with direct line to an account executive
Aside from the 24/7 customer service, it’s worth mentioning that they provide their clients a direct line to an account executive so questions and issues are handled much more efficiently. Do take note though that this is only available for Silver, Gold and Premier account holders.
Reputation: A regulated broker with strict compliance policies
What this brokerage has been known for since it started their operation is that is has been very strict with its compliance policies and this is due to their adherence to the regulatory requirements that have been set by various financial authorities. This is evidently shows that they have good compliance checks for the protection of their clients.
Editor’s Rating: 90
BinaryCM is a good choice to start trading binary options not only because they operate strictly under regulatory practices but also because of the competitive packages and value-added benefits that they provide for their traders, regardless of experience or skill level. On top of that, the 24/7 customer support will give you an assurance that you will be given quality client care any time of the day.