Binary.com is an online platform for binary options and CFD (MT5) owned and operated by the Regents Market Group. The platform allows online trading on the financial markets, including cryptocurrency and forex markets. Our review covers everything you need to know before you open an account and start trading.
It was not until 2013 that BetonMarkets.com was transferred by the parent company as Binary.com to give an expansion plan to obtain a larger part of the financial market.
Today, with the head office of the company in Malta, in Mompalao Building, Suite 2, Tower Road, Msida MSD1825, Binary.com has grown to more than one million customers 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.
Regulation and Reputation
In terms of its reputation, Binary.com is an award-winning platform. Over the years, the platform has won numerous awards from major judges in the financial sector.
These awards are all testaments to the first-class service that Binary.com has provided to its customers over the years.
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 license number IS / 70156.
In the Isle of Man and the United Kingdom, Binary.com is regulated by the Gambling Supervisory Commission and the UK Gambling Commission respectively.
The Revenue Commissioners in Ireland have also issued a license for delivery of remote bookmakers.
It was not until 2013 that BetonMarkets.com was transferred by the parent company as Binary.com to give an expansion plan to obtain a larger part of the financial market.
Today, with the head office of the company in Malta, in Mompalao Building, Suite 2, Tower Road, Msida MSD1825, Binary.com has grown to more than one million customers 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.
Regulation and Reputation
In terms of its reputation, Binary.com is an award-winning platform. Over the years, the platform has won numerous awards from major judges in the financial sector.
These awards are all testaments to the first-class service that Binary.com has provided to its customers over the years.
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 license number IS / 70156.
In the Isle of Man and the United Kingdom, Binary.com is regulated by the Gambling Supervisory Commission and the UK Gambling Commission respectively.
The Revenue Commissioners in Ireland have also issued a license for delivery of remote bookmakers.
Trading accounts offered
Regarding the type of trading platform available on Binary.com, the broker has only two types of trading accounts to offer, a standard trading account and a virtual account.
Virtual account
The virtual or demo account is basically a practice account preloaded with $10,000 virtual cash. This allows novice traders to test out the trading platform and trading strategies, without risking real money.
It also provides a tool for advanced traders to test trading strategies and theories.
Standard account
Once you are confident enough to start 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 only $5, thus making Binary.com more accessible.
The account process is simple and hassle-free. If you have already registered for a demo account, the process of converting it to a virtual account in the standard account is even easier with a click of the mouse.
MT5 Account
The MT5 account delivers CFDs on forex, cryptocurrency and a variety of other financial markets. The metatrader 5 platform is a new addition to the offering that will go live in the summer of 2019.
So the software is cutting edge and delivers many of the features that modern traders need. Stop loss, limit orders, advanced charting, trading strategy testing and one click trading.
Bonus
Currently, Binary.com does not offer any form of free trading or no deposit bonus.
Assets and Instruments
On 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 In / Out to stay.
As for the list of available underlying assets, there is a choice between 114 different types of assets. It consists of 30 currency pairs, 4 currency indices, 28 market indices, 40 types of stocks, 5 types of commodities and 7 types of market volatility indices.
The addition of the MT5 platform further expands the offering.
Customer Service
For the sake of their customers, Binary.com has translated their website into a dozen different languages. In terms of customer support, merchants can contact the support team via email or call directly.
Contact numbers vary by dealer location. The correct details can be found in the ‘Contact Us’ area of the website.
Unfortunately, we noticed that live chat support is not available, which puts Binary.com at a disadvantage when comparing the broker to other brokers in the industry.
Deposit and withdrawal
As for the payment methods supported by Binary.com, there are many choices. You can use major credit cards such as VISA, Mastercard. Alternatively, you also fund your trading account via eWallets such as Skrill and Neteller.
You can also fund your trading account via online exchanges such as Western Union. For merchants without easy access, funds can also be transferred via bank transfer.
Cryptocurrencies such as Bitcoin, Bitcoin Cash, Litecoin and Ethereum are also accepted instead of fiat currencies. As for the withdrawals, the entire withdrawal process takes between 1 to 5 business days to complete, depending on the method used.
Is Binary.com the 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 on offer also help to justify the trading risks associated with trading binaries.
Accepted countries
Binary.com accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders cannot use Binary.com from the United States, Malaysia, Hong Kong, Iran.
Questions
Does Binary.com accept US traders?
Does binary.com offer trading on the Nasdaq?
Is there a mobile app?
Have Binary.com MT4
Is hedging allowed?
Is Binary.com a reliable, regulated broker?
Yes. Binary.com has been in business since 1999. That longevity in the financial market is a sign of good customer satisfaction. It is also regulated and licensed by:
- VFSC (Vanuatu)
- FSC (British Virgin Islands)
- IBFC (Malaysia)
What is the minimum requirement to open an account?
How fast are withdrawals from Binary.com processed?
What kind of platform does Binary.com offer?
What instruments can I use on Binary.com?