Binary.com is one of the oldest ‘binary fixed odds’ brokers, having first set up operations in 1999. It is owned by Regent Markets Group and licensed in the Isle of Man and Malta.
Previously trading as BetOnMarkets.com, the company rebranded in 2013 to Binary.com in an effort to increase its share of the lucrative binary options market. It has now traded over 15 million transactions on behalf of over 300,000 clients worldwide.
The company has won a number of respected industry awards since inception. These include “Best Fixed Odds Financial Provider” in 2007 and 2008 by Share Magazine and “Best Fixed Odds Firm” by Investors Chronicle FT.
Telephone: 3 direct helpline numbers +4 Regional Toll free numbers, Callback facility
Trading Platform: Proprietary
Demo Account: Yes
Minimum Opening Deposit: $5 (or equivalent)
Minimum Trade Amount: $5
Profitability / Rebate: Varible
Account Holding Deposit: USD, GBP or EUR
Deposit Options:Credit/ Debit Card, Fast Bank Transfer, WebMoney, Skrill, Netteller
Regulated: Licensed and Regulated Malta
Accepts US Traders: No
The Binary.com platform is unique among brokers. It reflects both the long standing relationship that this company has with its clients and its experience of providing binary options trading contracts within the marketplace.
While it was originally billed as a ‘fixed odds trading platform’ the company have rebranded their BetOnMarkets website and consequently have become a more mainstream broker. From their previous incarnation there is also a greater degree of flexibility in the platform and therefore some of the contracts offered cannot be found elsewhere.
The Binary.com trading platform while being unique, is easy to get to grips with. All the functionality is clearly laid out making it both easy to navigate and trade on. A key strength of the platform is that it offers the ability to tailor most contracts to specific analysis. This includes highly granular settings for each contract where you can set the amount of profit that you want to make.
A good range of assets are available for trading on the platform. All major and minor Forex pairs are offered, together with a comprehensive range of over 20 indices and 50 stocks. Commodities are catered for with Gold, Silver and Oil contracts and a selection of ‘Random Indices’. These are as described, randomly generated indices for anyone looking to try their luck.
It should be noted however that no Rollover or Double feature available. However most contracts can be sold back to the broker prior to expiry for a nominal amount. This works best on trades lasting a day or more, where you can lock in profit early or exit if the market is moving against your position.
- Rise/ Fall – Profit from predicting if the price of a selected market will ‘rise’ or ‘fall’ over the time period you select.
- Higher/Lower – Choose a level and decide if the price of the asset/market will end higher or lower than this level by the expiry time you set on the contact.
- Touch/ No Touch – Set a level that you believe the market will either touch, or not touch, over the duration of the contract.
- In/Out – Set up a boundary range and specify if you think that the price will end ‘inside’ or ‘outside of this range at expiry.
Binary.com Mobile App
Binary.com offer a mobile trading app for Android users which provides the full set of trading functionality as offered on their main web based platform. It can be used to place Rise/ Fall trades, Higher/ Lower Trades, Touch/ No Touch and In/ Out trade types.
The interface is clearly laid out and almost as easy to use as the desktop platform. In addition to the trading interface you can also monitor open positions in your Portfolio and visit the Cashier to manage your funds in and out of your account.
IPhone users are not currently catered for although the brokers does have plans to release an IOS version in due course.
A single live account type is available which is designed to suit traders of all levels and abilities. You can open a real live trading account for free and take a look around without the need to make an initial deposit.
- Live – Accounts can be operated in US dollars, British Pounds or Euros. You simply need to select the currency that you wish to operate your account in at the time of opening. The minimum funding amount is just 5 units of your chosen account holding currency.
- Virtual – It is straightforward to open a no risk virtual account online. These are free and offer you $10K of virtual money to trade with.
The minimum deposit required by Binary.com is just $5 and as a result this one of the lowest deposits required around. What is so great about this is that virtually anyone can open an account and can into trading with Binary.com!
Funding an account is straightforward. Binary.com offers a huge range of supported deposit methods. Bank wire/ Money transfer and Credit/ Debit cards are supported.
In addition a number of EWallet and third party payment processing methods are also available should you wish to fund your account by this method. The most notable of these include CashU, FastPay, Skrill, Neteller, WebMoney and Ukash.
Account withdrawals with Binary.com are free and can easily be initiated from the account section within the platform. Processing times vary, being dependent upon the method chosen.
Typically withdrawals will take five working days to process for a bank wire withdrawal. Credit and Debit card requests are carried out in three working days.
Binary.com offers some good levels of support and offers four toll gree numbers. These are available to traders in Russia, UK, Australia and New Zealand. Traders in other regions are provided with a generic direct helpline number that is available 24 hours per day.
Other contact methods available include a Call back facility. This is initiated by submitting a request on the website. Call back times are not always fast however so you may be better to call directly if you want more immediate assistance. A direct support email address is also available. The website is available in a number of languages. The site can be viewed by traders in English, Indonesian, Spanish, French, Russian, Portuguese, Dutch and Chinese.
Unusually, Binary.com does not offer much in the way of a deposit bonus. The company does periodically run offers so consequently it is worth checking at sign up to see what’s available.
FTSE, DAX, DOW, NASDAQ, RTS, TADWUL, KUWAIT, BOMDAY SE, HANG SENG, SSE180, S&P FUTURE, STRAITS TIMES, KL FUTURE, TOPIX, TEL AVIV 25, NIKKEI 225, NIFTY, IBEZX, ASX
EUR/ USD, USD/JPY, USD/CHF, GBP/USD, USD/CAD, EUR/GBP, USD/TRY, USD/BRL, USD/RUB, USD/EGP, USD/SGD, USD/ZAR, NZD/USD
Gold, Oil, Platinum, Silver, Sugar, Wheat, Coffee
Amazon, Apple, BAE Systems, BNP Paribas, BP, British American Tobacco, Coca Cola, Citigroup, Fiat, France Telecom, Gazprom, Goldman Sachs, Google, HSBC, IBM, Lukoil, Microsoft, Nike, Nissan, Petroras, Retuers, Rolls Royce, Reuters, SAB Miller, S.Bank India, Sberbank, Tata Motors, Teva Parma, Tesco, Turkcell
Binary.com Review Verdict
- One of the oldest brokers so very well respected
- The platform is easy to use making it simple for anyone to trade
- Wide range of assets and different contracts offered
- Super low deposit requirement to start trading
- Limited support in some multinational languages