Binary.com is an online trading platform that provides binary options, forex, contract for differences (CFDs), stocks, and cryptocurrency trading opportunities for investors.
As a leading binary broker, Binary.com operates off the MetaTrader 5 application, allowing traders to get the most out of technical analysis and trade planning. However, there are also several platforms that beginners can use.
If you’re considering becoming a Binary.com trader, we’ll give you the down-low on how they operate, the features you’ll receive, the fees you can expect to pay, and the quality of their customer support.
About Binary.com
Binary.com officially became “Binary” in 2013, as it used to operate under the name BetonMarkets.com. It did this to represent its parent company and fulfill its goal to expand in the financial trading market world.
However, Binary’s proven track record of offering fast, secure trades dates back to 1999. Moreover, they’re a name that many customers can trust, given that they segregate funds, storing them in secure and licensed financial institutions.
If you have any doubts, a look at their long list of awards from Global Brands Magazine to Global Banking and Finance Review will help ease your mind that they’ve received the stamp of approval from many big-name brands.
As of now, people have made over $2 billion in trades on Binary, and this is no doubt thanks in part to Binary.com’s binary trading technology that you can only find on their platform.
Binary currently has over 1,000,000 customers worldwide that use their platform, and they have offices in Malta, Paraguay, Malaysia, and the United Arab Emirates.
Top Features of Binary.com
Below are some of the most notable features you’ll benefit from by selecting Binary.com as your online binary broker.
24/7 Trading
Since Binary.com operates across the globe, covering many different forex currencies, cryptocurrencies, synthetic indices, and more, there’s always some option to trade with them around the clock.
That’s a massive difference from traditional stock markets, where you have to arrange your schedule around the opening and closing bells to do your trading. Of course, you can trade these stocks, too, but having the option to trade certain assets at any time of day or night is a huge plus.
Fast Transactions
On average, Binary.com can make 20 transactions per second. As a result, their technology can help you lock in a buy or sell trade faster, preventing slippage that can come from delayed computers.
The result is that you can feel peace of mind knowing that the trade you set should trigger and execute if the markets reach it without worrying about missing it due to a delay on Binary’s part.
Demo Trading
If you’re new to trading or simply want to get a feel for Binary’s platform after having traded elsewhere, you’ll appreciate that they offer a free demo account. Using the demo account lets you see how your trading strategies would play out in the market.
Demo trading is a feature that some trading platforms charge extra for, so this is an excellent value with Binary. Furthermore, it’s easy to switch back and forth between your demo and live accounts, allowing you to hone your skills virtually and in real life.
Caters to Many Languages
Since Binary.com is a global binary broker, they’ve translated its website into twelve different languages. English, Chinese, Spanish, French, and Russian are among those.
Furthermore, you can expect to speak with a staff or contractor of these same languages if you reach out to them for help via their live chat.
MetaTrader 5
Binary.com uses MetaTrader 5, a multi-asset platform that allows users to understand and map out their trading possibilities. It’s an invaluable free tool that has helped thousands of traders worldwide analyze their trades.
That said, MetaTrader 5 is ideal for advanced traders. So, you can also use several beginner-friendly trading platforms on Binary.com, including Deriv.com, SmartTrader, and Tick Trade, if you’re new to trading.
Binary Bot
If you love the idea of making money while you sleep, you’ll have the chance to do so by setting up a Binary Bot. The Binary Bot is Binary.com’s personal creation, and it allows you to automate your strategies while leaving what can sometimes be rash human emotion out of your trades.
By using their drag-and-drop method, you can set up your first bot, customizing it according to whatever trade you plan. Then, close your laptop and let the bot do the rest, following the specific parameters you laid out for it in advance.
Great Educational Tools
Working with binary brokers isn’t for the faint of heart, given there’s the high risk of losing (and gaining) money. However, Binary.com understands how crucial it is for its customers to educate themselves and know what they’re getting into.
So, they offer detailed information for beginners on binary options, lookback contracts, and MetaTrader 5.
Excellent Account Security
Binary does its part to keep your deposits safe, but it’s equally important that they offer account security on your end so that you can prevent a hacker from accessing your account. They do this by providing the option to enable two-factor authentication, Cloudflare DNS, and a login history where you can monitor previous logins.
In addition to these measures, Binary.com encourages its users to use a unique and strong password with many characters. You should also ensure that you update your web browser whenever there’s the option, as it may contain crucial security features.
Binary.com Costs
Binary.com offers ultra-low opening bids, starting at $1, as well as replenishing bids starting at $5, making them an attractive choice for people trading with a small bankroll. Best of all, unlike some binary brokers that charge high fees for people dealing with little money, Binary.com’s commissions and non-commission fees are relatively reasonable.
Binary also charges a commission to open a trade. From there, they’ll charge a fee to withdraw any funds if you wish to do so. In some cases, Binary.com’s commissions start as low as $0.
As for withdrawing your funds, Binary has a minimum withdrawal amount which depends on the current exchange rates. They offer a detailed analysis of the minimum and maximum deposit and withdrawal amounts on their payment page.
Some deposit and withdrawal options include wire transfer, credit card, e-wallet, and cryptocurrencies. The exact withdrawal fees you pay will depend on your preferred payment mode.
Customer Support
Admittedly, Binary’s customer support is lacking, given that they offer live chat as the only option to contact them. That said, they make this live chat accessible to nearly all of their customers, thanks to them translating their website into many different languages.
Additionally, Binary.com offers many written resources for their customers so that they don’t have to spend time waiting to live chat with a representative. By visiting their help center, you can find answers to questions on topics ranging from withdrawals to the Binary Bot and understanding how time zones relate to your trades.
Binary.com Regulation
Regulation is at the core of helping customers trust an online trading company, so Binary.com doesn’t take any shortcuts with it.
They have several different regulators, one of the most notable being the Financial Commission. The Financial Commission is an independent organization that serves to protect the customer, as they offer up to 20,000 Euro to clients that win a dispute.
Deriv Limited is the other regulator of Binary.com. They have multiple licenses under Deriv Limited, allowing Binary to work with clients across different parts of the globe. Some of these regulators include:
- British Virgin Islands Financial Services Commission
- Labuan Financial Services Authority
- Vanuatu Financial Services Commission
Final Thoughts
Regardless of the binary broker that you end up choosing, it’s essential to do your due diligence as this is a fast-track way to make—or lose—significant amounts of money.
But by choosing to use Binary.com as your broker, you’ll be joining over one million accounts that trust them and the support of over 300 staff and contractors across the globe. Furthermore, Binary’s list of regulators and licenses offers peace of mind that they’re unlikely to act in shady ways or run off with your funds.
So, we encourage you to continue doing your research, and if you decide that Binary.com is the right fit for you, why wait? Sign up with them today.