Binary.com 2020 Review and Tutorial

Binary.com is an online binary options and CFD (MT5) trading platform owned and managed by Regents Market Group. The platform enables online trading in financial markets, including cryptocurrency and forex markets. Our review details what 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 large number of financial trading markets. Today with the company headquarters located in Malta, at Mompalao Building, Suite 2, Road Tower, Msida MSD1825, Binary.com has grown to serve more than one million customers from all over the world. Since then, they have expanded satellite offices in Malaysia and Japan.

Rules & Reputation

In terms of reputation, Binary.com is an award-winning platform. Over the years, the platform has won numerous awards from leading commentators in the financial industry. These awards are all testimonials to the first-class service that Binary.com has provided over the years, to its customers. In addition, it also reassures 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 UK, Binary.com is regulated by the Gambling Supervision Commission and the UK Gambling Commission respectively -each.

 

 

Trading Platform

It is interesting to note that Binary.com is able to offer its traders with a wide selection of trading platforms. Trading platform

categorized into (1) basic platform and (2) advanced platform.

 

Basic Platform

There are 2 basic types of platforms, the Binary.com platform and the Mouse Trading App. Both of these platforms are used for binary trading with the second being designed specifically for mobile trading.

Advanced Platform

As for advanced trading platforms and trading software, Binary.com has the following:

• MetaTrader 5 platform, for CFD and forex trading
• Binary WebTrader, for advanced binary options trading
• Binary Next-Gen Platform, for advanced trading features
• Bot Binary Platform, for automated binary trading

Mobile Commerce

As mentioned earlier, the Binary Trading application is designed specifically for traders who need to be mobile and not tied to their desktop trading terminal. The application is available for free and can be downloaded from the Apple App Store and Google Playstore. With the app, traders can

check their trading account status as well as execute trades.

 

 

Trading Account Offered

Regarding the types of trading platforms available at Binary.com, the broker has only two types of trading accounts on offer, standard trading accounts and virtual accounts.

Virtual Account

A virtual or demo account is basically a practice account loaded with $10,000 virtual cash. It allows novice traders to test trading platforms and trading strategies, without having to risk any real money. It also provides advanced trader tools to support 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 easy. If you have registered for a demo account, the process of converting it from a virtual account to a standard account is easier with just a click of the mouse.

MT5 account

MT5 accounts deliver CFDs on forex, cryptocurrency and various other financial markets. The metatrader 5 platform is a new addition to the offer, will stay in the summer of 2019. Therefore, the software is sophisticated and delivers many features that modern traders need. Stop loss, order limit, advanced chart, trading strategy test and one-click trading.

Bonus

Currently, Binary.com does not offer any form of free trading 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 underlying assets available, there are 114 different asset types to choose from. 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.

 

User support

For the convenience of their customers, Binary.com has translated their website into many different languages. For customer support, merchants can contact the support team via email or by calling them directly on the phone. Contact numbers vary based on dealer location. Correct details can be found in the ‘Contact Us’ area of ​​the website. Unfortunately, we note that live chat support is not available which puts Binary.com at an unsatisfactory level, when we compare the broker with other brokers in the industry.

Deposit & Withdrawal

As for payment methods supported by Binary.com, there are many options. You can use major credit cards such as VISA, Mastercard. Alternatively, you can also fund your trading account through eWallets such as Skrill and Neteller. You can also fund your trading account through an online exchange such as Western Union. For traders without easy access, funds can also be transferred via wire transfer. Cryptocurrencies such as Bitcoin, Bitcoin Cash, Litecoin and Ethereum are also accepted in lieu of fiat currency. As for production, the entire production process takes between 1 to 5 business days to complete depending on the method used.

Is Binary.com Best For Day Trading?

As a platform for day trading, Binary.com is an ideal platform due to the fact that the expiry time for binary options can be as low as 2 minutes. The high returns offered also help to justify the trading risks involved in binary trading.

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 many other countries . Traders cannot use Binary.com from the United States, Malaysia, Hong Kong, Iran.

Frequently asked questions