New Binary.com broker review – 2021 Update
Binary.com is an online binary choice and CFD trading platform (MT5) which is owned and handled by the Regents Market Group. Now, this broker rebranded to Deriv and all trading operations plus account details, funds, and custom settings, are transitioned to Deriv. Having said that, we highly recommend reading Deriv.com 2021 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 in 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 an 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.
Trading Platforms
It’s good to highlight that Binary.com can offer its traders a wide selection of trading platforms. The trading platforms have been categorized into fundamental platforms and advanced platforms.
Basic Platforms
There are 2 kinds of basic platforms, the Binary.com platform, and the Binary Tick Trade App. Both these platforms are utilized for trading binaries together with the latter made specifically for mobile trading.
Advanced Platforms
As for the innovative trading platforms and trading software, Binary.com has got the following:
- The MetaTrader 5 platform, for CFDs and forex trading
- For innovative binary options trading, the Binary WebTrader
- The Binary Next-Gen platform, for innovative trading options
- The Binary Bot platform, used for automated binary trading
Mobile 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 executing 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 account along with a virtual account.
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 backtest trading techniques and concepts.
Standard Account
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 handier.
The accounts procedure is straightforward and hassle-free. If you already have a demo account, the procedure for converting from a virtual account to the standard one is much simpler and a mouse clicks away.
MT5 Account
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.
Binary.com Review: Account comparison
Bonus
At the moment, Binary.com isn’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 an 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.
MetaTrader 5 platform
Customer Care
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 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.
Accepted Countries
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 the United States of America, Malaysia, Hong Kong and Iran.
