Binary.com General Information
Headquarters: Millennium House, Victoria Road, Douglas, IM2 4RW, Isle of Man, British Isles.
USA Traders: Not Allowed
Available Assets: 50
Min. Deposit: $5
Min. Trade Size: $5
Max Trade Size: $5,000
Additional Features: Randoms
Platform Provider: BetonMarkets
Languages: English, Italian, Chinese, Deutsch, Arabic, Polish, Portuguese, Russian, French and Spanish.
Binary.com Broker Review
Binary.com, like a few other binary options brokers is using a gambling licensee for it’s binary options trading platform. They are licensed and regulated under the Gambling Supervision Commission in the Isle of Man, the UK Gambling Commission, reference number 39172 and by the MFSA (Malta). These 3 different regulations, are used for all binary.com activities outside the European Union.
For it’s European Union operation, they have an investment products regulation, which is a Category 3 Investment Services provider issued by the Malta Financial Services Authority (license no. IS/70156).
Binary.com Trading Platform
Binary.com have come a long way since the early days of BetonMarkets and they have improved tremendously since they have changed their name. Unlike most binary options brokers who are working 24/7 in order to give a financial orientation to their trading platform. Binary.com is openly giving their clients a feeling that they have just stepped into a casino. The over all attitude is that here you don’t trade, you are placing bets. However, they do provide high quality trading charts for the more experienced traders. In fact I think their charts are one of the best among all other binary brokers. As for binary.com offered expiries, one thing is certain, they perfectly suitable for traders who are into fast trading. The platform offers extremely fast expiries, starting from 10 seconds expiries!!!
Apart from straight-up trading they also provide an extensive tutorials and explanations section about Binary Options which are well structured and simple to understand.
Binary.com Unique Features
There is no doubt that this is one of the most innovative brokers in the industry. But with their ‘Random Markets’ feature the may have went 1 step perhaps too far. According to Binary.com this feature is generated from random numbers and ranging with different values of 25,50,70 and 100. Now, each random asset correspond with it’s volatility, which can be anywhere from 25% to 100%. To make a long story short, each trader can choose his desired volatility level as well as the market he wished to trade on. For example: If you don’t like too much ‘ups and downs’ while trading and prefer a more calm trading, you can choose 25 as your level of volatility. I must say I still don’t quite understand according to what binary.com decides on each asset volatility level. Also I am not quite sure what will happen if a trader chooses 100 as his desired level of volatility. There are plenty of other types of ‘Randoms’ as well but you will need to check what does each one represent.
Binary.com Bonus & Withdrawals
Apparently, they do not offer a straightforward bonus on deposits above certain amount and in order to receive a bonus, one will have to contact their support team and ask by email the bonus he is eligible to get. They would have gotten much more appreciation if they would simply cancel the bonus.
As for withdrawals, it is great to know that they allow to take out funds starting from as low as $10. However, the it takes until you receive the funds can be anywhere from 5-10 businesses days, too long in my opinion.
Why to open an account with Binary.com
It is a well established company with some serious kilometerage in the industry as well as one of the most innovative binary options brokers out there. Binary.com are regulated in multiple countries, which in my opinion gives their operation a high level of credibility. Moreover, I like the fact they do not hide their relation to gambling and the fact that in some regions they are operating with a gambling license.
Why NOT to open an account with Binary.com
For most brokers binary options is perceived as a financial product, and if you are asking me, that is the right way to look at it. Binary.com is one of the only brokers that have decided to promote binary options more as a casino type product, as well as using a gambling regulation for their trading platform, and from my perspective that is wrong.
Another reason why I think you should avoid investing your money with Binary.com is due to the very bad reputation they are having on many binary options forums. We have found many different traders which were not able to withdrawals their funds, including a few very recent ones.
Wall Of Shame
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