Binary.com Broker Review
The broker has a number of products, which include web-based platforms, mobile apps and a MetaTrader 5 platform. The web-based platform is highly customizable; traders have complete control over their trades’ durations and payouts. You can also place trades with pending orders that will execute in the future.
- High payouts up to 120%
- Exotic options – 1900% returns
- $5 minimum deposit
- Bitcoin deposits
- Auto-trading robot
The Binary.com trading platform is entirely web based. The software is quick to load and easy to navigate. You don’t need to download or install any application. You just load the platform into your browser and start trading right away. The platform is also mobile friendly, so you can use it on any mobile device.
Types of options
Binary.com offers five types of binary options contracts: Up/Down, Higher/Lower, Touch/No Touch, In/Out and Stays In/Goes Out. The regular binary trading is Up/Down with payouts up to 120%. Your potential payout will depend on the direction, expiry time and asset’s volatility.
On the other types of binary options, you may create a highly unusual event that could provide an extremely large profit but, at the same time, carries significant risk. These options are considered exotic and may not be recommended by many, but they clearly show the huge potential of the trading software.
You can select Duration or End of Time with a fixed hour on the clock. Traders can choose the expiry time from as little as 5 seconds to as far out at 365 days, or one year. To trade fast-paced binary options, you must choose Ticks in Duration. You can also select minutes, hours, days or a fixed date and time on the calendar.
As mentioned, the payouts at Binary.com are flexible and could reach 1900% on some events. The best part is that you create the event, and you decide what return you want; it could be 10% or 1000%.
The regular Up/Down binary options are usually paid about 90% but you have to consider the broker offers two different payouts for High and Low trade on the same asset. The difference is usually about 10%.
You can choose Payout or Stake. The Payout calculates your potential net profit + the amount you risk. If you use Stake, you can select the exact amount you will risk for your contract.
Binary.com offers a wide choice of assets, including forex pairs, stocks, indices and commodities. The stocks and indices cover a wide range of markets across the US, UK, Europe and the Middle East. You can choose from over 30 currency pairs and over 40 stocks.
There is also the Smart FX, which is the currency index. Currently, this is applicable for the Australian dollar, Euro index, British pound index and the U.S. dollar index.
The web-based charting platform comes packed with many technical indicators, including momentum and volatility indicators. Traders can switch between the OHLC bar chart and the candlestick chart or the line chart.
The charting tool can also recognize patterns, such as Doji Star, Engulfing and Hikkake. The tool is designed to be simple and smart to help traders on the markets. You can also save templates and use them later.
Binary.com offers two mobile apps. One is designed to replicate the web platform and allows you to trade all types of options. The other is called Tick Trade and offers only Up/Down trading with expiry times up to 10 ticks. The assets list is also limited to forex pairs if you decide to use the ticks trading app.
The apps can be downloaded via the iTunes store for iOS devices and the Google Play store for the Android enabled devices.
Binary.com offers a free virtual trading account with starting funds of $10K and unlimited time. You will need to register an account if you wish to keep track of your trading. The demo version does not lack any features, and you can experience live trading without risking any of your funds.
To start live trading, you must first verify your account with proof of address and ID. Once verified, you can deposit funds and begin trading. Depending on which deposit method you use, you can deposit as little as $5.
Binary.com provides real-time prices, benchmarked against the interbank options market. If you trade regular binary options with expiry times from 5 minutes to 1 hour, you can expect payouts of about 90% for each trade that closes in the money. If you trade fast-paced binary options with up to 10 ticks expiry, your potential return might increase over 120%.
All clients’ funds are held in pooled or omnibus clients’ money bank accounts, segregated from the company’s accounts.
You can use several strategies to be successful at trading with the Binary.com platform. Because you can select the expiry time and potential payout, you have absolute control over your binary options contracts. You can place trades with conditions that might or might not happen in one day, one month or one year.
For example, the EUR/USD current market price is 1.1822, and you want to place a trade that in one week or in one month the pair will touch the 1.1922 level. By adding more pips to your target price and shortening the expiry time, your potential payout will increase.
The broker also offers tick trades with expiry from 5 ticks up to 10 ticks, which is about 15 seconds. Trading ticks could be risky but also profitable if you have the pulse of the markets.
For technical binary options trading, you can use the Binary Bot to build your automated trading or you can use the charting platform with many free to use technical indicators and trade based off these signals.
Traders at Binary.com also can build their own trading robots through the Binary Bot tool. You can easily create an auto-trading system by using the drag-and-drop functions available on the tool. No programming skills are required, but you should have an idea about technical indicators, such as Moving Averages and Bollinger Bands.
The Binary Bot allows you to create conditions based on the technical indicator signals. The robot will follow the markets and will execute orders on logic-based conditions. Once you develop your robot, you can test it in demo mode to determine whether it makes profit in the long run.
Deposits and Withdrawals
Binary.com offers a wide range of deposit and withdrawal options that include wire transfers, credit cards, e-wallets and bitcoin wallets. There are no deposit or withdrawal fees applied to traders’ transactions on the platform.
Bank wire transfers can be completed for as little as $25, while credit/debit card payments require a minimum of $10. For e-wallets, which include OKPay, Skrill, and Neteller, you can deposit or withdraw funds for as little as $5.
Except for wire transfers, all deposits are executed instantly, the withdrawals take up to one business day.
Traders can contact Binary.com support via phone or e-mail. Live chat is not available. There are dedicated toll-free numbers that work 24/7, and you can reach customer support instantly. If you use e-mail, you will probably get feedback in about 5 minutes.
On the Binary.com page, you will also find many educational materials, including video tutorials and market analyses. You can also join a number of webinars each month, and they are all free.
Pros and Cons
- Well-established company
- Customized platform
- Highly regulated
- High payouts
- Fast withdrawals
- Segregated customer funds
- Missing Live chat
- Lack of bonuses
Currently, Binary.com does not accept clients from the following countries: USA, Malaysia, Hong Kong