Binary.com is an online trading platform that allows you to trade binary options 24/7, even on weekends. Binary.com was established in 1999 under the brand name BetOnMarkets.com before rebranding to Binary.com nearly 10 years later.
Binary.com is owned by a company called Binary Group LTD. Binary.com has local offices in Malaysia, Malta, Paraguay, and the UAE. With over 1,000,000 registered users and over 20 transactions per second, Binary.com is one of the oldest and most respected names in the binary options industry.
But is Binary.com right for you？ Can this broker be trusted？ In this Binary.com review, I'm going to tell you everything you need to know.
Binary.com Trading Platforms
In order to cater to the needs of both beginners and advanced traders, Binary.com has several different trading platforms you can choose from.
Beginner Platforms
For beginners, you have the option of using their Deriv platform or SmartTrader. Both of these platforms are custom-built and specifically designed for binary options trading in a simple and easy-to-use interface. With both Deriv and SmartTrader, you have several different trade types to choose from including:
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High/Low
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Rise/Fall
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Touch/No Touch
A nice feature that Binary.com has is the ability to set your own expiry time, ranging anywhere from 1 day up to 1 year.
Advanced Platforms
For the advanced trader, you can choose between MetaTrader 5 and Binary WebTrader.
MetaTrader 5 is a multi-asset trading platform that is recognized as the global standard. With MetaTrader 5, you can trade FX, CFDs, and Binary Options with 1 powerful platform.
Binary WebTrader is an advanced binary options trading interface that allows you to monitor the movements of your favorite assets and markets simultaneously. With it's full-screen interface, you can arrange all of your essential charts, asset index, historical data, and market movements however you see fit. This platform is available in 13 different languages as well.
Binary.com also has an auto-trading tool that allows you to automate your trading strategies using a simple drad-and-drop bot creation tool.
Payouts
Binary.com has some of the best payouts among binary options brokers. The profit you make on successful trades will depend on the type of trade, the expiry, and the asset. However, you can achieve returns above 100% on rise/fall trades and as high as 1,000% on high/low and touch/no-touch trades.
Account Types
Demo Account
Binary.com offers a free demo account where you can practice trading with virtual money. This allows you to sharpen your trading skills and test new strategies without risking real money. Demo accounts are funded with $10,000 in virtual funds for you to practice with.
Real Account
You can open a live trading account with Binary.com with an initial investment as low as $5, which is quite a bit lower than most binary options brokers. A real account gives you access to the beginner platforms, the advanced platforms (including MetaTrader 5), as well as their mobile app for on-the-go trading.
Deposits and Withdrawals
Wire Transfer
For bank transfers, the minimum deposit and withdrawal amount is $500. The maximum deposit and withdrawal amount is $100,000. The currencies accepted include USD, GBP, EUR, and AUD. The processing time for standard bank transfers is 1 working day. If you're using an Internet Bank Transfer, deposits can take as little as 15 minutes. If you're using PayTrust, deposits are instant.
Cryptocurrency
Binary.com accepts several different cryptocurrencies as a form of payment including ETH (Ethereum), LTC (Litecoin), UST (Tether), and BTC (Bitcoin).
Final Thoughts
In my honest opinion, Binary.com is one of the top binary option brokers in the industry. Their platform offers excellent payouts, mobile trading, multiple trade types, and a variety of payment methods to fund your account. Binary.com is simple enough to use for beginners with minimal trading experience, while also offering enough features to satisfy even the most advanced option traders. And most importantly, Binary.com is licensed and regulation by multiple regulatory agencies.
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