Is Binary.com a trusted online broker or a scam? – We will find out in this review and give you a professional overview of the company. Binay.com is a well-known Forex Broker for international investments. Since 2000 the company got a track record in online trading. In the next sections, we will show you how the platform works and find out if you should invest your money or not.
Is Binary.com regulated?
Before you sign up with any online broker you should check if the company is official regulated. This is the most important point to check and we will discuss it in the first section. Regulation means safety for the trader. On the internet, there are brokers which operate illegally and try to scam their customers. In order to invest in a serious company, there should be regulation.
A regulation shows trust and safety because the company has to be legal and act under certain laws of the regulatory authority. Binary.com is a licensed and regulated trading platform which is active since 1999. Different subsidiaries belong to the holding Binary Limited. This company is multi regulated and got different licenses.
Binary Investments (Europe) Ltd
Binary Investments Ltd is regulated by the Malta Financial Service Authority (MFSA) with the license number IS/70156. The company is allowed to provide its service in every European country. The company address is W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta.
Binary (SVG) Ltd
Binary (SVG) Ltd is registered with the company number 25299 BC 2019. International clients who want to trade Binary Options trade under this license. The address is Hinds Buildings, Kingstown, St. Vincent and the Grenadines.
Binary (V) Ltd
Binary (V) Ltd is regulated by the Vanuatu Financial Service Commission (VFSC). International clients who are trading forex and CFDs in the MetaTrader 5 are managed under this license. The address is Govant Building, Port Vila, PO Box 1276, Vanuatu, Republic of Vanuatu.
Binary (BVI) Ltd
Binary (BVI) Ltd is regulated by the British Virgin Islands Financial Service Commission and customers for the forex and CFD MetaTrader 5 are under this license. The address is Kingston Chambers, P.O. Box 173, Road Town, Tortola, British Virgin Islands.
Binary (FX) Ltd
Binary (FX) Ltd is regulated by the Labuan Financial Service Authority in Malaysia. MetaTrader 5 clients are served by this license, too. The address is Lot No. F16, First Floor, Paragon Labuan, Jalan Tun Mustapha, 87000 Federal Territory of Labuan.
In conclusion, Binary.com is a multi-regulated company and broker which accepts international clients. Fraud can be excluded by a view on these licenses. From our experience, Binary.com shows that more than 1 regulation is not enough and now they are a highly trusted online broker.
Financial security: Is Binary.com safe for traders?
How safe is the trading platform? – We checked the financial security for traders and got very good results. Binary.com only uses regulated payment methods for deposits and withdrawals. You can be sure that the money will be credited to your trading account and the withdrawals are working correctly.
Furthermore, the funds of the clients are managed in secure and licensed financial institutions. The broker does not use your money to do investments or hedge positions. Any time you got the full access to your account balance.
Security of the platform and account:
With Binary.com you can get very high account security. There are different options available which we want to present to you in this section. First of all, traders can enable two-factor authentication for the account. This is additional security because it is nearly impossible to hack your account. Before you login, you have to confirm the login with another device.
Also, Binary. com provides a clear login history of your account. You can set up a cashier lock password to secure your deposits and withdrawals. All in all, Binary.com provides very good safety features for traders. From our experience, it is a very safe platform. (See the picture below for all features)
What is behind Binary.com – History of the company
Binary.com was founded in 1999 by collecting investor’s money from a HongKong based fund management company. In 2000 the company goes live with the old name “Betonmarkets.com” and “Xodds.com”. Since this time the company achieved different milestones and attract a rising customer base.
On the Binary.com website, you can clearly see the group history which is very amazing. The company expanded internationally and collected different licenses for financial trading to serve clients from over the world. In addition, their platform is patented in the USA for the pioneer of Binary Options trading (Wikipedia).
2013 the company changed the name into “Binary.com” and reached a turnover in 2014 of 2 billion USD since 1999. More and more customers want to trade with Binary.com because the platform is unique and offers very good conditions. Nowadays, Binay.com manages offices in Japan, Kuala Lumpur, Dubai, Paraguay, and more countries.
In 2019 there are more than 100,000 active clients on the platform and the numbers are still growing. In conclusion, Binary.com is a very trusted broker in the trading industry which is leading the binary trading section. The broker is growing continuously because of the good conditions and unique trading platform. The company always adds new features and opportunities to invest in the financial markets.
Facts about the company:
- Founded in 1999
- International offices and licenses
- Rising customer base
- Unique and patented trading platform
- Global awards
How to open an account with Binary.com:
It is quite simple to open a trading account with Binary.com. You can sign up with your email address or social profile (Google and Facebook). The process is done in a few seconds and you get direct access to the trading platform. Now you can use the demo account with virtual money or continue the registration process.
The account opening is free for any trader. There are no hidden fees or commissions for you.
Important verification process
For trading with real money and full access to all functions of the trading platform, verification is needed. You have to fulfill your account profile and upload personal documents that are checked by Binary.com. It depends on your country of residence which documents the broker needs to check your identity. Binary.com can request a copy of your passport and utility bill.
The account setup is done in a few minutes. Just insert your personal data and upload the requested documents. Binary.com will confirm the profile within 24 hours. We recommend doing a full account setup before you start trading with real money.
Verification of your identity:
- As regulated Forex Broker, the company have to check your identity
- Documents can be requested by Binary.com
- The account setup depends on you country of residence
- Upload the requested documents
- The full account setup take few minutes time
- We recommend doing the verification before trading with real money
Use the free Binary.com demo account
One of the most important tools on the Binary.com trading platform is the demo account (virtual account). It is an account with virtual money (10,000$). This account allows you to test the platform without risk. Binary.com provides this account for free and you can switch between the real money and virtual money with only one click.
We recommend to any new user who wants to trade with Binary.com to use the demo account first. Check out the platform and open your first traders. Before you invest real money you should know how it works to trade and how to manage the trading platform. In addition, the demo account can be used to develop trading strategies and test new markets.
In conclusion, Binary.com offers a free demo account like any other broker. You can start trading without risk and test the platform by yourself. If you make a loss it is possible to deposit (recharge) the account.
Advantages of the demo account:
- Use it for free
- Test the platform without risk
- Develope trading strategies
- Try out new markets
- Recharge the demo account with one click
Demo account vs. real account trading
Are the differences between the demo account and the real account? – From our experience, the execution of trades is very fast in the demo account like in the real money account. There are no differences between these two account types. You will get the same conditions.
In fact, real money trading can be more difficult because you will act differently like it is virtual money. The key to success is to learn to trade without emotions like in the demo account. As professional traders we recommend it to use the demo account like the real money account to gain the best experience in trading.
Payment methods for the account funding:
As you see on the official homepage of Binary.com there are more than 15 payment methods available for deposit and withdrawals. It is easy to fund your account. You can use different electronic methods or classic bank transfer.
Sometimes the payment method can depend on your country of residence. So do not be surprised if there are more or fewer payment methods available than in the list below or picture above. Note that the minimum deposit is 5$ with e-wallets but with other payment methods it can be higher.
Facts about the payment methods:
- Minimum deposit 5$
- No fees
- Credit Cards
- Electronic wallets (Neteller, Skrill, Qiwi, WebMoney, and more)
- Bank Transfer
- Instant deposits
- Withdrawals in 1 working day
How to deposit on Binary.com:
To do a deposit on Binay.com go to the cashier menu and click on deposit. You only can deposit if your personal detail is approved by the broker.
You can deposit in different currencies. Also, cryptocurrency accounts are available with Binary.com. If you make a mistake by setting the currency it is possible to change it afterward.
- Make sure your personal details are confirmed by the broker
- Go to the cashier menu
- Click on deposit
- Choose the payment method for the deposit
How to do the withdrawal:
The withdrawals are easy as the deposits with the broker Binary.com. In the cashier menu, you can choose “withdraw” to pay out your earned money. Note that you can set up a different security password for the cashier menu.
From our experience, the withdrawals are very fast. Within one day the withdrawal is processed. You will get an email if it is processed. Sometimes it can happen in a few hours. On the other side, the process can be longer if the broker requests additional documents from you. All in all, the deposits and withdrawals are working correctly and free from interference.
Offers for traders: Review of the trading conditions
Before we show you the full information about the trading platforms of Binary.com we have to talk about the offers and conditions for traders. As you know Binary.com is a Binary Options, Forex, and CFD Broker. In this section, we will give you a detailed overview of “what you can trade on the platforms”.
The minimum deposit is only 5$ and you can try out the free virtual account. The virtual account is the best way to test the trading platform. There are more than 100 different assets available by Binary.com. Cryptocurrencies, indices, commodities, currencies, or volatility indexes are tradeable. In addition, you can choose between different currencies for your real account balance or using cryptocurrencies.
The maximum return of investment for Binary Options is 100%+ and the maximum leverage for Forex and CFDs is up to 1:500. From our experience, there are no direct fees on the platform. Sometimes it can happen that your payment provider charges fees for deposit or withdrawal.
- Return of investments up to 100%+ (Binary Options)
- Leverage up to 1:500 (Forex and CFD)
- More than 100 different markets
- Minimum deposit 5$
- Free demo account
- Low fees compared to other brokers
- High liquidity
Test of the Binary.com trading platforms
For professional online trading, Binary.com offers 6 different trading platforms. This software is even available as an app (mobile trading). The platforms are designed for a variety of purposes and the trader can choose from. As mentioned before it is possible to trade different financial products with Binary.com. You can not trade all financial products on one platform.
From our experience, the platforms are very clearly designed and easy to use. They are for beginners and advanced traders. Besides, the well-known MetaTrader 5 is available for Forex and CFD trading. Automated trading can be processed by the Binary Bot which is a very unique platform. We will discuss the trading platforms in detail.
- SmartTrader for Binary Options and Touch Options
- WebTrader for Binary Options and Touch Options
- Binary Bot for automated Binary Options
- MetaTrader 5 for Forex and CFD trading
- Deriv for Binary Options (beta version)
- Binary Grid for the best mobile trading with Binary Options
The SmartTrader is a reliable trading platform for Binary Options. You can trade options with different expiry times, investments, and on rising or falling prices. In the picture above you see a screenshot of the order mask. For chart analysis, you have to look below. The design is very clear and the beginner should feel comfortable. In the following section, we will explain how to trade too.
For charting, you can use the chart below the order mask. Binary.com offers the tools which a trader needs for his success. You can change the timeframes and chart types.
For the chart analysis you can use indicators, drawing tools, comparisons between assets, or fundamental data. By a few clicks you can insert the indicator you want and customize it. In conclusion, the SmartTrader which is recommended for beginners offers all tools for professional and sucessfull trading.
How to trade Binary Options?
Binary Options is not a complex financial product. Compared to other financial product traders understand it very fast how it works. The features of Binary Options are clear and limited. Before you open a position you know the possible return of investment, your possible loss, the time duration and the direction of the trade.
- Rise/Fall (classic and most popular)
- Touch/No Touch
- Ends Between/Ends Outside
- Stays Between/Goes Outside
Binary Options can be traded on currencies (Forex), indices, commodities, and volatility indices. Before you start trading you can customize your trading contract. The Binary Options is a contract between the trader and the broker.
Features of Binary Options:
- Start Time
- Duration (ticks, minutes, hours, days)
- Investment (starting 1$)
- Allow equals or not
- Trade higher or lower
We recommend to do some test trades with the demo account before trading with real money. You should understand the financial product completly before real investments. The next picture will give you a deeper look in it.
In the picture above you see that you can invest in rising or falling markets. For “Higher” trades the exit spot has to be above your entry point and for “Lower” trades the exit spot has to be below your entry point. Just make a forecast of the market and start the trade.
For Binary Options only the exit spot is important. When the expiry time is over the price will be checked and you will get the payout or not. The yield can be up to 100%+. It does not matter if the price goes above or below within the contract duration.
All in all, Binary Options are very simple to trade. It is a popular financial product because you can earn a very high payout within a short period.
If you want to do more advanced trading you have to choose the WebTrader. This software allows you multi-charting and a full-screen mode. More features are available on the platform. You can customize your trading window as you want.
Traders can choose in the upper menu between trade, chart, resources, and workspace to customize the platform. As you see in the picture above you can open different windows at the same time. This is a multifunctional feature and allows you to make a deeper market analysis. In the next point, we will give you a quick overview of the functions.
- Open the order mask for your markets
- Volatility Indices
- Open the chart for your markets
- Volatility Indices
- Make a deeper analysis
- Asset Index
- Trading Times
- Historical Data
- Chart Themes
- Manage the charts
- Arrange the windows
- Close All
As you see in the points above you got a whole bunch of options for your trading style to customize. From our experience, the WebTrader is the best platform for Binary Options trading and better than the SmartTrader.
The Binary Bot is a unique feature of Binary.com. Most brokers do not allow automated trading on their platforms or it is not possible because the features are missing. Binary.com provides software where you can program your own automated system for trading Binary Options.
For the first impression, the Binary Bot is not a trading platform for beginners. You need knowledge, math, and programming skills. In addition, your strategy should work successfully. It is possible to create an automated system with any trading strategy by the Binary Bot. You can use math and logic commands on the software.
Binary.com will help you to program a system. There are some tutorials and knowledge about it. For further knowledge you can read on the internet about automated trading or buy some programming books. The language of the Binary Bot is very easy but very hard to understand for beginners.
How does the Binary Bot work?
To create you automated trading system you have to open the right menu (red marked). There are different building blocks which you can insert in your system. There are mathematic and logic building blocks. Also, text programming can be used to create functions. If you inserted the block you can customize it like you want.
If you created the Binary Bot you can start to backtest it and improve the results by changing the system with a few clicks. The Binary Bot is clearly a huge advantage against other Forex Brokers because it is very easy to create an automated system. Binary.com provides you all the functions you need to create your system.
MetaTrader 5 is the most popular software worldwide for online trading. A lot of brokers offer this software because it is developed independently by programmers. Brokers are paying licenses for this software. The MetaTrader is available for your computer and mobile phone. You can create the account with Binary.com and download the program.
Moreover, MetaTrader 5 is a highly customizable software too. You can customize the chart as you want and using different tools. The software is supporting Forex and CFD Trading. 1-click trading even as automated trading is possible. There are a lot of different tools that you can individualize.
For traders who want to program their own indicators or automated systems, you can insert them easily in the software. The MetaTrader is enjoyed by millions of traders and it is from our experience the best software for forex and CFD trading.
Advantages of the MetaTrader 5:
- Available for any device
- Automated trading supported
- Indicators and drawing tools
- Chart types
- Insert extern programs and indicators
- Professional portfolio management
Deriv is a web-based online trading platform where you can trade Binary Options. Compared to the SmartTrader and WebTrader the design is a little bit different and known from other Binary Options Brokers. You see the chart which is customizable and next to it you see the orde mask.
Like the other platforms, you can customize the chart as you want. There are not so many differences between the platforms. We recommend to try out each platform by using the virtual account. The Deriv app is still in the development process. So it can be that Binary.com will add new features soon.
Mobile Trading with the Binary.com App
Mobile Trading is very important today. The customer base who trades with mobile devices is rising continuously. Binary.com offers different apps for Android and Apple (iOS) devices. You can download the on their platform.
- Binary.com Tick Trade App
- MetaTrader 5 for mobile devices
- Binary Grid App
The mobile apps are professionally designed and allow you to trade the financial markets with your mobile phone or tablet. Similar to the web-based platforms you can use indicators and analysis tools. With the mobile app, you always can check your portfolio. Another advantage of mobile trading is that you can react immediately to political decisions or news. In conclusion, Binary.com offers professional and reliable trading platforms for trading Binary Options, Forex, CFDs, indices, and cryptocurrencies.
Support for traders
Which type of support can you expect from Binary.com? – There is a phone, email, and chat support for traders. Also, you can get in touch with the broker via Youtube, Facebook, Twitter, or Telegram. More than 10 different languages are available because the company manages international employes and offices. The website is translated into 11 different languages
The support works 24 hours on regular working days and responds very professional to my questions. If you got questions you can contact them or read through the help articles. Moreover, there is an intelligent support system where you can insert your questions and get the right answers very quickly.
|Phone, Chat, Email||24/5 on working days||More than 10||+44 800 011 9847 (Toll-Free) (UK)|
Service for traders: Education and learning material
Furthermore there is a diverse learning center for every customer of Binary.com. It is suitable for beginners and advanced traders. The variety of free offers is huge and we will show you what you can learn in this section.
To get access to the academy you have to open your free account with Binary.com. Deposits are not necessary for access to the academy. There are different offers like webinars, trading signals, beginner tutorials, e-books, and market updates. You can learn how to trade by educational videos. Also, next on the platform, you will find direct explanations of the financial products which will help you to understand it.
From our experience, Binary.com wants the success of its traders. If the trader is successfull the broker can earn more revenue because the trader will continue to trade forever. There is a very good educational material to improve your trading skills. You should no miss the education center.
Learning material of Binary.com:
- Live Webinars
- Weekly Trading Signals
- Beginner tutorials
- Security Tips
- Educational Videos
Conclusion of the Binary.com review: Legit company and online broker
All in all, Binary.com is the leading broker for option trading. In addition, you can trade Forex and CFDs with the MetaTrader 5 Platform. The company offers you a huge range of investment possibilities which we recommend to test by using the demo account.
The minimum deposit is very low by 5$ and you can start investing with only 1$ per trade. There are no limits for bigger trades. Binary.com attracts any type of trader because of its good offers. Next to the professional trading platforms, you can use legal automated trading which is compared to other Forex Brokers a big advantage.
Furthermore, company history shows us that Binary.com is a trusted and reliable broker. The company expands continuously and implement new features. It is a fully regulated broker which we recommend to trade with.
Advantages of Binary.com:
- Multi-regulated company
- Small minimum deposit of 5$
- Free demo account
- No hidden fees
- Return of investments up to 100%+
- Forex and CFD Trading
- Professional trading platforms
- Automated trading
Binary.com is the leading broker for Binary Options trading but you can trade Forex and CFDs to good conditions too. (5 / 5)