Binary.com is 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 in 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.
Table of Contents
- Regulation & Reputation
- Trading Platforms
- Mobile Trading
- Trading Accounts Offered
- Assets & Instruments
- Customer Support
- Deposit & Withdrawal
- Is Binary.com Best For Day Trading?
- Accepted Countries
- Does Binary.com accept US Traders?
- Does binary.com offer trading on the Nasdaq?
- Is there a mobile app?
- Does Binary.com have MT4
- Is hedging allowed?
- Is Binary.com a trusted, regulated broker?
- What is the minimum deposit requirement to open an account?
- How fast are withdrawals processed from Binary.com?
- What kind of platform do Binary.com offer?
- What instruments can I use at Binary.com?
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 testament 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 can 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 is 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 requires a minimum deposit of just $5, hence making Binary.com more accessible.
The accounting 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 that better reflect what 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.
At present, the broker does not offer any form of free trade or no deposit bonus.
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 its 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 in 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 because 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, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.
Traders can not use Binary.com from United States, Malaysia, Hong Kong, Iran, United Arab Emirates.
Does Binary.com accept US Traders?
No. At present, Binary.com does not accept traders based in the US. Visit the brokers’ page for a list of brokers who accept traders from your region.
Does binary.com offer trading on the Nasdaq?
Yes. Nasdaq is listed as ‘US Tech 100’ under the indices list. The minimum time frame that can be traded with binary options is 15 minutes. CFD trading is also available via the MT5 platform.
Is there a mobile app?
Yes. Mobile trading is available via the ‘Tick Trade’ android app. SmartTrader is also available on Mobile.
Does Binary.com have MT4
Yes. Binary.com offer MetaTrader integration. Traders need to open a specific account to access the MT4 and MT5 platforms.
Is hedging allowed?
Yes. Binary.com offers both binary options and CFD trading depending on your region. Both can be used to hedge other trades. Payouts between the investment types vary of course, so ensure you understand the potential payouts of each trade if hedging is your aim.
Is Binary.com a trusted, regulated broker?
Yes. Binary.com has been in business since 1999. That longevity in the financial marketplace is a sign of solid customer satisfaction. They are also regulated and licensed by:
- VFSC (Vanuatu)
- FSC (British Virgin Islands)
- IBFC (Malaysia)
What is the minimum deposit requirement to open an account?
The minimum deposit requirement to open a trading account at Binary.com is $5. To open advanced and MT5 accounts, you first open a standard account and then apply for higher levels. This does not require any additional deposits.
How fast are withdrawals processed from Binary.com?
The typical processing time for a withdrawal request to be processed is one business day. However, it may take as long as 5 business days for the funds to appear in your bank account.
What kind of platform do Binary.com offer?
Binary.com uses the MetaTrader 5 as well as several proprietary platforms, including mobile apps.
What instruments can I use at Binary.com?
You can trade the markets with CFDs or binary options at Binary.com.
|Binary.com is the established pioneer of binary options. The choice of the advanced trader, Binary.com offers the greatest flexibility of any binary broker. They also offer Forex and CFD via the MT5 platform.|
Vincent Nyagaka is a Professional Trader, Analyst & Author. He has been actively engaged in market analysis for the past 7 years. He has a monthly readership of 100,000+ traders and has taught over 1,000 students since 2014. Vincent is also an experienced instructor and public speaker. Check out Vincent’s Professional Trading Course here.