Binary.com is an established binary options brand and has been developing in the binary options sector since 1999. The pioneers of this type of investment. The firm has changed names over the years and used to be BetOnMarkets.com – in 2013 they switched to Binary.com.
They recently added a Bitcoin funded trading account – initially for non-EU accounts only – but remain ahead of the game in the binary sector.
Their longevity shows that they are not a scam and are a respected, established brand in both Europe and Asia.
Review
The firm, frequently awarded in their formative years, has a history of trading more than $2 billion in binary. They also have over 1 million traders using their platform, handling over 1 million transactions per day. Despite competition in the sector, Binary.com has maintained their position as one of the leading binary vendors under the “Sharp Prices, Smart Trading” category.
The company is regulated by the Malta Financial Services Authority, and is based in Malta, with offices in Malaysia. It is popular in the region, especially Indonesia and Singapore. They are also licensed in the UK.
Low minimum deposits make this an attractive proposition. Traders can rate the platform for binary options, while taking the minimum risk. Advanced traders will also appreciate the flexibility of the trading platform, which allows ‘structuring’ of trades to create and execute more complex risk/reward plans.
Here are some key details about the Binary.com brand;
- Demo Account – Yes (A virtual account balance of $10,000 is provided)
- Minimum deposit – £5
- Minimum trade – £5
- Car Dealer Robot – yes
- Signal service – No
- Bonus Details – No bonus offers are currently being offered
- Binary.com App – Yes, for Android and iPhone.
Trading Platform
The Binary.com platform is finished to deliver only what a trader needs. With none of the distractions on other platforms. There are no gimmicks on the trading platform – just the most important trading information. This may suit some traders, others prefer a better ‘provided’ offer if they sign up. But few can argue that trade is clear and unfettered. This provides a large amount of flexibility for the trader. This clarity is why more advanced traders prefer this platform, and it is much simpler to use a winning strategy.
In addition to the standard platform, the firm also offers a number of other advanced tools. For example, there are also these trading areas:
- MetaTrader 5 – Advanced CFD Trading. This area combines the trading suite with MetaTrader integration, including both MT4 and MT5. It delivers charting on par with the market leading CFD brokers. The download is a quick process.
- Binary Web Trader . The WebTrader platform offers traders the ability to track and monitor multiple underlying assets and trade at the same time.
- Binary next-gen . This is the mobile app version of the platform. It facilitates trading on the go from various mobile devices. The app is compatible with Android and iPhone and delivers a seamless trading experience.
- Binary bot . The Binary Bot area is discussed in more detail below, and offers the opportunity for clients to build and operate their own auto trading robot. It delivers depth and detail beyond the similar services provided by other brokers. Bot scripts can be created and thoroughly tested.
The selection of underlying assets is made at the top of the platform. In addition to the usual Forex, indices, stocks and commodities, there are also ‘randoms’ unique to Binary.com. This is pure speculation and is exclusively for traders looking for a quick adrenaline rush.
Option types
Once the asset class is selected, the option selection will appear just above the trading fields. So, for example, Forex will display the types Up / Down, Touch / No Touch and In / Out. Again, the trading area below will update with the relevant fields once an option type is selected. Later in the overview, each option type is covered in more detail.
The first two fields in the trading area allow traders to select the specific asset they are interested in. The actual asset is selected from the second drop-down list. The first field simply reduces the list to make it more manageable. (For example, selecting ‘Major Pairs’ from the first field will reduce the list to only the major currencies, making selection much easier).
The ‘duration’ (or ‘end time’) can then be selected. It determines the expiration time of the option. This allows traders to choose the length of anything between a handful of ticks or seconds, up to an entire year if they want (and everywhere in between). This level of flexibility is unmatched among other brokers.
Once a contract is opened, it will have a ‘live’ price until expiry. This gives traders the opportunity to close trades – either to take profits or cut losses.
Spot price and strike price
There is then a display of the current price price, and a very small price chart. Below this is the payout field. On Binary.com, rather than asking traders to choose their stake, they ask them to choose the payout. The actual stake required to reach the payout is then automatically calculated. This is the opposite of how other brokers operate, but it is obvious once traders get used to it. As these fields are updated, the actual trade buttons on the right will be updated.
The trade buttons are large and contain all the relevant information – the effective interest, the exact expiry, the direction in which the asset price should move, the potential net profit and the actual raw payout percentage. Traders must select the ‘Purchase’ button to finalize the trade.
Traders moving to Binary.com from other brokers may find the trading platform unfamiliar as it is quite unique in design. However, it offers a wealth of flexibility and retains much of the simplicity that made binary options so popular.
Trader choice
Binary.com offers options on forex, commodities, stocks and indices. Their asset lists are good. Currency pairs are the most comprehensive list. Combined with the enormous flexibility of the expiration dates, binary.com offers a huge variety of options for traders.
They offer four main types of options:
Up / Down – The basic binary option. Will the asset increase in value, or decrease? (Higher / Lower is a similar option under the same heading, and is similar to a ‘ladder’ option – in other words, the price will end higher or lower than the predetermined price – not the strike price. Since it is larger require price movements, the payouts are generally higher, sometimes up to 1000%)
Touch / no touch – will the asset price last within a period or not? The flexibility within the platform allows trades to be ‘nested’, enabling more complex trading strategies, where risk and reward can be shaped even more accurately.
Expires in / out – will the asset price at the point of expiration be within a predetermined value range, or outside of that range?
Stays In / Goes Out – Similar to Ends In / Out, but here the question is whether the price will stay within the predetermined price levels for the duration of the trade, or will it move out of the values at any time during the trade is sufficient.
The binary ticker option also provides a method of earning ‘per tick’ which, while moving slightly away from the binary model, gives traders a different form or speculating on an asset.
The asset list is constantly growing, especially with the introduction of cryptocurrencies. However, Binary.com delivers a full range of markets, including forex (via binary and CFD) plus indices, commodities and metals. They also offer trading on the volatility index (VIX). The volatility index may need its own strategy or approach and it will also help to understand exactly how the volatility indices are calculated.
Weekend trade
Binary.com often traded with a lead on the weekend – they once ran their own indices for this purpose. However, the global markets operate outside the “traditional” western trading hours. Forex markets in particular are around the world 6 days a week.
However, Binary.com also benefits from the markets being open on the weekend.
So index opened in Tel Aviv or India can be traded over the weekend. Although there are volatility and volume considerations to trading on the weekend, Binary.com certainly makes it accessible to traders.
CFD
As the brand expanded, they went beyond just binary options. Binary.com now also offers CFDs (Contracts For Difference). These derivatives offer different styles of risk management to binaries, but offer more varied profit and loss scenarios.
The markets offered include Forex, Cryptocurrencies including Bitcoin, Bitcoin Cash and Litecoin, plus metals, indices and commodities. The MetaTrader 5 financial platform opens up these diverse investment styles and also offers more automation.
Mobile App
Binary.com delivers a high quality free mobile trading platform app. Compatible with currently only Android (2.3 and up). This allows traders to trade the full range of options available on the website and the full list of assets.
The trading screens keep the same look as the website, and the trading remains clear and simple. The portfolio area contains a list of open trades, and also a history of closed trades. The Cashier Area provides for deposit and withdrawal requests.
The Android app is being developed and updated regularly, and an iPhone app is in development soon.
Customer Service
Binary.com offers email and phone support. The contact numbers vary depending on the region of the dealer. For UK traders the number is:
+44 1942 316229
The Contact Us page on the website also includes a direct messaging facility.
Payout
Payouts at Binary.com are excellent. It offers a ‘two-way’ price. This means that the payout for each option is separate and can therefore be a bit higher.
On occasion some up / down payouts will reach 100%, but generally between 81% and 94%. As always, the payouts will vary depending on the maturities and the asset chosen.
Higher payouts are also available with different trading options, such as higher / lower. With these High / Low or Touch / No Touch trades, the payouts can be up to 1000% – that’s two-way pricing at work.
Withdrawal and deposit
Binary.com offers the largest range of deposit and withdrawal options of any binary options broker. The minimum deposit requirements vary depending on the deposit method used, but start from just £5, making it an excellent starting point for new traders.
Bank transfers have a minimum deposit of £25, credit and debit cards have a minimum of £10 and online e-cash accounts have the minimum deposit option of £5 (brands such as Skrill, Neteller, FastPay and WebMoney).
With the evolution of cryptocurrency, Binary.com has been quick to adapt, and now also accepts deposits in a variety of cryptos, including Bitcoin, Litecoin and Ethereum.
The variety of payment methods at Binary.com is very wide. This option varies between the EU and other parts of the world, so merchants will need to check what is available in their region.
Withdrawals are generally available via the same source list. The processing time can vary – for example, it will take five days to process a bank transfer, where an e-cash transaction to Skrill or Neteller will be processed in one day.
Withdrawals to cryptocurrency will vary according to the currency used and market conditions.
Withdrawals to credit and debit cards will take three days to process. The firm certainly offers a wide variety of methods for depositing or withdrawing funds, so traders need to find a solution that suits them.
Withdrawals are often the biggest source of disputes with binary options brokers, so it’s worth clarifying the preferred method.
Complaints for withdrawals often stem from verification issues, so merchants are advised to arrange them quickly.
Other properties
The firm offers its clients the following features and benefits:
- Charting – Binary.com offers a variety of charting options to aid technical analysis. Some tools can be downloaded, others work on the website.
- Variety of educational materials – a range of educational materials are available, including e-books, videos and online seminars.
- Randoms – Randoms are exclusively for those looking for entertainment, exclusive to Binary.com
- Market data – Via both chart packages and live feeds, Binary.com offers a variety of live market data.
- Support – Support is offered in a variety of languages.
Robot
Binary bot from Binary.com
Binary.com also offers a feature to build and run a robot for auto trading. As well as being home to sharp traders, Binary.com also now delivers ‘advanced platforms’ – the ‘Binary Bot’ platform being the latest.
This trading robot gives users the chance to set up an automated trading system. The feature is more advanced than competing broker offerings. The settings offer greater depth and levels of intricacy that deliver a more precise and accurate setup. This allows traders to be really specific about their trade triggers and run the robot with confidence.
Binary Bot adheres to the Binary.com look and feel, which is pared back and simple. The flashing or pulsing price charts preferred elsewhere are replaced with more features and ease of use. This is a great new addition for a brand that has always tried to stay at the forefront of innovation in the sector.
Auto trading is a major asset at Binary.com and many leading signal providers can include auto trading with the firm. The Binary bot extends the flexibility for retail investors.
In terms of a bot trading strategy, traders must tread carefully. While the webinars do offer a tutorial, it’s best to spend at least a while learning the bot setup by hand. Downloading the bot is a simple process and many dealers can jump right in to set up the car dealer, but there are greater risks involved. For example, automating a martingale strategy via the bot is obviously super-high risk and there is no recovery from a mistake. So use the demo area, back-test, execute strategies manually and make sure everything works as designed before completely handing over control.
Advanced Features
Binary.com (formerly BetOnMarkets) offers a unique trading platform. This is one that gives the trader a lot of freedom. While maintaining the simplicity of binary trading, it also offers unparalleled flexibility. Traders can know exactly when their option expires. They can set a time frame from just a few minutes to 365 days.
Likewise, there is also the opportunity to modify price levels and barriers. This is extremely valuable for traders who like to use In/Out and Touch/No Touch options.
This allows advanced traders to set up options to optimize the risk and reward they incur. Multiple options ‘nesting’ is one technique that allows risk to be managed with a high degree of precision.
This level of trading is really only possible with a broker that allows the level of trade setup that Binary.com does.
Education and Trading Guides
Binary.com offers a variety of educational services and trading information. Sometimes they release “Mellon on the Markets” as a free download. The market update, written by Jim Mellon, provides insight into when to trade news events and how to analyze the markets. Jim also shows when he will go long or short certain assets. A great read for every level of trader.
Binary.com also offers regular webinars (with a schedule posted a few weeks in advance). It provides excellent insight into the thought processes of profitable, professional traders.
Recent examples include webinars focusing on commodities, weekly market reviews, managing emotions while trading and advanced techniques.
Traders at any level can get something out of these deals.
Binary.tv
Binary.tv appeared on Binary.com in November 2020. It provides market analysis and overviews of popular assets and currency pairs. The features are broken down into short videos. Recent topics have included volatility in China and analysis of US home sales data.
Both examined the impact on the global economy and specific exchange rates. It offers traders a relaxed overview of news and trends in the financial sector and can highlight some good opportunities.