Binary.com is an online binary options and CFD trading platform (MT5) that is owned and managed by the Regents Market Group. The platform allows online trading on the financial markets, including cryptocurrency and forex markets. Our review details all you need to know before you open an account and start trading.
It was only in 2013 that BetonMarkets.com was rebranded as Binary.com by the parent company, to spearhead an expansion plan to capture a bigger slice of the financial trading market.
Today with the company’s head office located on Malta, at Mompalao Building, Suite 2, Tower Road, Msida MSD1825, Binary.com has grown to service more than one million clients from all over the world.
They have since expanded to include satellite offices in Malaysia and Japan as well. The platform has also been developed to include MT4 and MT5 integration.
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.
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.
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
As mentioned earlier, the Binary Tick Trade app is specifically designed for traders who need to be mobile and not be glued to their desktop trading terminal.
The app is available free of charge and can be downloaded from Apple App Store and Google Playstore. With the app, traders can check their trading account status as well as execute trades.
Trading Accounts Offered
With regards to the type of trading platform that are available at Binary.com, the broker only has two types of trading accounts to offer, a standard trading account and a virtual account.
The virtual or demo account is basically a practice account that is preloaded with $10,000 virtual cash. It allows beginner traders to test out the trading platform and trading strategies, without having to risk any real money.
It also provides a tool fr advanced traders to back test trading strategies and theories.
Once you are confident enough to begin live trading, you can open a standard trading account. Unlike most binary options brokers, which require a minimum deposit of $250 to open a live trading account, Binary.com only require a minimum deposit of just $5, hence making Binary.com more accessible.
The account process is simple and hassle free. If you have already registered for a demo account, the process of converting it to a virtual account to the standard account is even easier with just a click of the mouse.
The MT5 account delivers CFDs on forex, cryptocurrency and a range of other financial markets. The metatrader 5 platform is a new addition to the offering, going live in the summer of 2019.
The software is therefore cutting edge and delivers many of the features modern traders need. Stop loss, limit orders, advanced charting, trading strategy testing and one-click trading.
The MT5 platforms were recently tweaked, to include new names which better reflects which each account does.
So the ‘Standard’ MT5 account became ‘MT5 Financial‘ and the ‘Advanced’ became ‘MT5 Financial STP‘.
The MT5 Synthetic Indices is now simply the ‘MT5 Synthetic‘.
The meta trader offering at Binary.com is being constantly upgraded and improved. It is a clear area of focus for the group.
Assets & Instruments
At Binary.com, traders can trade in CFDs as well as 4 types of binary options such as Up/Down, Touch/No Touch, End In/Out and Stay In/Out.
As for the list of available underlying assets, there is a choice of 114 different types of assets. They consist of 30 currency pairs, 4-currency indexes, 28 market indices, 40 types of stocks, 5 types of commodities and 7 types of market volatility indices.
The addition of the MT5 platform expands the offering further.
For the convenience of their clients, Binary.com has translated their website into a dozen different languages. As for customer support, traders can contact the support team through Live chat.
The full details can be found on the ‘Contact Us’ area of the website.
Deposit & Withdrawal
As for the payment methods that are supported by Binary.com, there are plenty of choices. You can use major credit cards such as VISA, Mastercard. Alternatively, you also fund your trading account through eWallets such as Skrill and Neteller.
You can also fund your trading account through online exchanges such as Western Union. For traders without convenient access, funds can also be transferred through wire transfer.
Cryptocurrencies such as Bitcoin, Bitcoin Cash, Litecoin and Ethereum are also accepted in lieu of fiat currencies. As for withdrawals, the whole withdrawal process takes between 1 to 5 business days to be completed depending on the method used.
Is Binary.com Best For Day Trading?
As a platform for day trading, Binary.com is a suitable platform due to the fact that the expiry time for binary options can be as short as 2 minutes. The high returns offered also help to justify the trading risks involved in trading binaries.
The products offered on the Binary.com website include binary options, contracts for difference (“CFDs”) and other complex derivatives. Trading binary options may not be suitable for everyone. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, the products offered on the website may not be suitable for all investors because of the risk of losing all of your invested capital. You should never invest money that you cannot afford to lose, and never trade with borrowed money. Before trading in the complex products offered, please be sure to understand the risks involved.
Binary.com accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Binary.com from United States, Malaysia, Hong Kong, Iran.
Binary.com Account Features
Binary.com’s unique trading platform offers a wide range of tradable products. Its versatility and user-friendliness allows you to enable various binary trading strategies. Its versatility and user-friendliness attract thousands of users from all over the world. The platform allows flexibility of the choice of tradable products while also providing real-time charting capabilities. These features are crucial during trading as they enable users to have excellent, multiple trading experiences.
The candlestick chart is the most widely used in trading. The reason for this is not far-fetched: it allows traders to operate numerous awesome tools for technical analysis. Consequently, they can easily monitor price moves. It is, therefore, some good news that Binary.com supports it, and more.
Binary.com App & Mobile Trading
You can trade from mobile phone on the go with the free Binary.com app. It is important to state that Binary.com also makes educational opportunities readily available for its clients. The broker provides these in varied forms which range from webinars to text. Thus, even if you’re a newbie, with its tons of highly-useful educational resources, you can easily fast-track your journey towards becoming a pro. The essential binary options trading education you can get by reading the step by step guide offered for free using this binary options training guide.
However, before you jump at any of the trading plans, we recommend you first try it out on a Virtual binary options demo Account. The way you trade is carefully described in our article called: Fundamentals of binary trading – a binary options 101.
Binary.com Trading Software
There are additional features embedded with the charts to help traders in making their buying and selling decisions. As a result, they are trained to be able to develop and employ numerous technical abilities in their trading career. These abilities can easily be carried over to almost every other field of human endeavour!
Binary.com MT4 & Metatrader5
If there is one thing that needs more commentary about Binary.com, it is its trading platform. In addition to MetaTrader 5, the broker has its in-house trading platform via which its clients can trade numerous financial assets besides binary options. Also, Binary.com understands that it is not just about trading; it is about analysis, too. So, it ensures its platform is equipped with state-of-the-art analysis tools. You can buy ready made binary options robot software online that you can use to give you trading signals in Metatrader4 based on various indications such as bollinger bands and many more.
Furthermore, Binary.com provides different types of binary options. Altogether they are five, which are:
Touch/No Touch – read more in touch no touch binary options
Stays In/Stays Out
Ends In/Ends Out.
For example, do you think a financial asset will go up? You choose the Rise button. If you think it will come down, you choose Fall. To make this easy, the broker has a clearly-displayed Rise/Fall function enabled on its platform. Higher/Lower Binary Options enable traders to benefit from market situations when the price ends up higher or lower than a targeted price.
For Touch/No Touch trades, the price just has to hit your target price or not for you to win. Stays In/Stays Out and Ends In/Ends Out are advanced and therefore not so popular with binary options traders. As a result of these different types of binary options trades, you are always empowered with the choice to pick from different styles whenever you trade with Binary.com. Recently, the broker also started an Asian contract plan that further simplifies trading and opens up more opportunities.
Called Asian & Digits, the plan allows the terms of any trade you take to change. For example, if the market falls immediately you take a Rise position, the terms will also correspondingly drop to give you a better chance of winning the trade. Important to know the difference between itm and otm meaning in finance.
Binary.com has evolved over the years to become a broker that supports over 60 assets via its trading platform. The assets are grouped in 5 categories – Forex, Indices, Commodities, Cryptocurrencies and Synthetic Indices. There are Major, Minor, Smart Forex Indices which include AUD, EUR, and GBP Indices. Some of the currency pairs supported also include EUR/USD, AUD/JPY, GBP/NOK, and many more. In addition to these, the commodities and cryptocurrencies that the broker offers help to ensure that its clients always have a huge library of financial asset choices to trade!
Is Binary.com good or bad?
We can definitely say that our binary.com review is positive and that the binary.com experience is great without customer complaints. Binary.com being a regulated entity in Europe is making it a better broker than most of its competitors. If you are looking for alternatives to binary.com then here is a small list of examples that we recommend and that never has been on our binary options scams blacklist: