New Binary.com broker review – updated July 7th, 2020.
Binary.com is an online binary choices and CFD trading platform (MT5) which is owned and handled by the Regents Market Group. Now this broker works as a new brand – Deriv.com, so please read Deriv.com review here. The platform enables online trading over the financial markets, such as cryptocurrency and foreign exchange markets. Our inspection details all you want to learn before you start an account and begin trading.
It was in 2013 when BetonMarkets.com was rebranded as Binary.com by its parent firm, to spearhead a growth strategy to capture a larger slice of the financial trading industry.
Now with the organization’s head office situated on Malta, in Mompalao Building, Suite 2, Tower Road, Msida MSD1825, Binary.com has grown to support over one million customers from all around the world.
The system has also been designed to add MT4 and MT5 integration.
Regulation & Reputation
Regarding its position, Binary.com is a award-winning platform. Through time, it has won a lot of awards from leading reviewers in the financial sector.
These awards are testaments to the leading class service that Binary.com has supplied through time, to its clientele.
Additionally, it’s also reassuring for traders to understand they are working with a regulated and valid agent.
Concerning regulatory supervision, Binary.com is regulated by the Malta Financial Services Authority as a Category 3 Investment Services supplier under the license number IS/70156.
The platform has also been issued that a Remote Bookmaker’s permit by the Revenue Commissioners in Ireland.
It’s good to highlight that Binary.com can offer its traders a wide selection of trading platforms. The trading platforms have been categorised into (1) fundamental platforms and (2) advanced platforms.
There are 2 kinds of basic platforms, the Binary.com platform along with the Binary Tick Trade App. Both these platforms are utilized for trading binaries together with the latter made specifically for mobile trading.
As for the innovative trading platforms and trading software, Binary.com has got the following:
- The MetaTrader 5 platform, for CFDs and forex trading
- The Binary WebTrader, for innovative binary options trading
- The Binary Next-Gen platform, for innovative trading options
- The Binary Bot platform, used for automated binary trading
As mentioned above, the Binary Tick Trade app is designed with keeping in mind traders who must be mobile and never be glued to their own desktop trading terminal.
The app is available free of charge and may be downloaded from Apple App Store and Google Playstore. With the app, traders may check their trading account status in addition to execute transactions.
Trading Accounts Offered
Seeing the sort of trading platform which is accessible at Binary.com, the agent only has two kinds of trading account to provide – a standard trading accounts along with a virtual account.
The demo or virtual account is essentially a practice account that’s packed with $10,000 virtual money. It permits novice traders to try out the trading platform and trading approaches, without needing to risk any real money.
Additionally, it offers a tool for innovative traders to back test trading techniques and concepts.
As soon as you’re confident enough to start live trading, then you can start with a standard trading account. Unlike many binary choices agents, which need a minimum deposit of $250 to start a live trading account, Binary.com only takes a minimum deposit of $5, thus making Binary.com more handy.
The accounts procedure is straightforward and hassle-free. In case you’ve already registered to get a demo account, the procedure for converting from a virtual account to the standard one is much simpler and a mouse click away.
The MT5 account provides CFDs on currency, cryptocurrency along with a variety of other financial markets.
The program is cutting-edge and provides lots of the qualities modern traders desire. Stop loss, limit orders, advanced charting, forex trading strategy analyzing and straightforward trading.
At the moment, Binary.com aren’t offering any kind of free trade and no deposit bonus.
Assets & Instruments
In Binary.com, traders may trade in CFDs in addition to 4 kinds of binary selections like Up/Down, Touch/No Touch, End In/Out and Stay In/Out.
In terms of the listing of accessible underlying resources, there’s a option of 114 distinct kinds of assets. They include 30 currency pairs, 4-currency indicators, 28 marketplace indices, 40 kinds of stocks, 5 kinds of commodities and 7 kinds of market volatility indices.
By adding the MT5 platform, the offering is additionally expanded.
To make the process easier for the customers, Binary.com has translated the website to several dozen different languages. Traders can contact the support team through email or by contacting them directly over the phone.
Contact numbers vary based on the place of the trader. The details are listed on the ‘Contact Us’ section of their website.
Unfortunately, live chat support does not exist at this moment which counts as a con of Binary.com, once compared with various brokers in the industry.
Withdrawal & Deposit
Concerning the payment approaches which are available at Binary.com, there are tons. You can use major credit cards like Mastercard and VISA. Alternately, your trading account can be financed by you through eWallets such as Neteller and Skrill.
It’s also possible to update your trading account through online exchanges such as Western Union. Through wire transfer, funds can be transferred for traders with no convenient access.
Cryptocurrencies such as Bitcoin, Bitcoin Cash, Litecoin and Ethereum can be substitutes for fiat currencies. Concerning withdrawals, the process takes 1 to 5 days to finish, based upon the payment process.
How Is Binary.com Best Suited For trading?
Looked upon as a platform for trading, Binary.com is an acceptable platform on account of the expiry time for binary options being usually as short as a couple of minutes. The returns offered additionally help highlight the trading risks of binary trading.
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 out of United States of America, Malaysia, Hong Kong and Iran.