Binary.com True Review and test

Admiral Markets user-ratings: $5
10/10
10 of 10 points 1 reviews
  • Asset varierity - 10/10
    10/10
  • Trading platform - 10/10
    10/10
  • Support - 10/10
    10/10
  • Fees - 10/10
    10/10
  • Deposit/Withdrawal - 10/10
    10/10

Facts about the company:

  • Type: Binary, Forex, CFD Broker
  • Regulation: MGA, GAMStop 
  • Minimum deposit: $5
  • Demo account: Not available 
  • Markets: Forex,  CFDs, Stocks, Indices, Commodities
10/10
Comments Rating 10/10 (1 review)

Pros

  • Exclusive binary trading technology
  • Debt-free
  • Daily Market Reports available 
  • Returns above 100% on simple rise/fall contracts
  • High yield
  • Forex and CFD Trading

Cons

About Binary.com

Binary.com was founded back in 1999 and has since developed a customer base of no less than one million customers. In addition to Europe, this provider is also strongly represented in Asia and maintains its own branches there. According to the company, a total of 90 employees ensure that customers are offered the best service and optimal conditions and that on average 15 transactions are processed via Binary.com per second. We would also like to take a closer look at this online broker with licenses in Malta, Great Britain, Ireland, and the Isle of Man and find out in the test whether customers can be unconcerned about rip-offs and fraud.

Screenshot of the Binary.com Landing Page

Our experience at a glance

The numbers alone show quite clearly that Binary.com is a special provider that stands out from the mass of online brokers for binary options trading. Not only the customer base of more than a million traders worldwide sounds impressive, but also the worldwide presence. The provider has a strong presence not only in Europe but also in Asia and the Arab world. Purely formally Binary.com belongs to the Binary Ltd. group of companies.

CompanyBinary Ltd.
AdressTower Road, Msida MSD1825
Registration number143125
Regulation / LicenseMAG, MGA/CL2/118/2000
Telephone00221 98259000
eMailsupport@binary.com
Live Chatyes
Call backno

For many prospective customers, the most important criterion for evaluating an online broker is the selection of tradable underlying and the number of instruments. While the first criterion is primarily for a high degree of flexibility in choosing the right trading strategy, the risk can also be regulated very well with a good range of instruments. With Binary.com both are right in any case. For a very large and well-structured selection of different underlying, risk levels between 70 and 1,000 percent can be selected with different instruments.

However, our experience with Binary.com has shown that this provider concentrates on the essentials, which in this case means that optimal trading can be carried out. With a large network of trading partners and state-of-the-art price discovery technology, precise real-time prices can be guaranteed. The Online Broker’s aim is to offer its customers the same conditions that are available to professional traders. This also includes the fact that no fees or commissions are charged. Another attractive feature of Binary.com is that customers can trade not only around the clock but also on weekends. In any case, an extensive overall offer, which opens up a lot of trading opportunities for the trader.

The positive impression applies naturally also to the question of seriousness. All experiences show that this broker is doing the right thing and that both data and customer deposits are protected. Fraud or rip-offs have no place here. In detail, we want to look at further points now – first of all to the offer itself.

Comprehensive range of tradable underlying

The first glance when evaluating a broker is almost always directed at the range of tradable underlying offered to experienced investors. Ultimately, even in binary options trading, it is all about investing in real market values. Each trader brings a different level of knowledge to the table and, accordingly, their preferences in terms of trading favorites differ. Even though our experience has shown that in most cases trading is limited to a few stocks, it is of course important that the stocks that the trader really knows about are included. While it may not be essential to trade everything that is available in the market, a wise selection of stocks simply opens up more opportunities. We believe that Binary.com has been very successful in reconciling the goals of the breadth of selection and structure.

The offering includes the categories of forex, indices, stocks, and commodities. A special feature is the so-called Randoms. So while all the majors and the most important minors are included in the forex market, the trader also has a good choice when it comes to the indices with the most important global stocks. With regard to stocks, however, the range is somewhat more manageable and is limited to stocks from France, the Netherlands, and Belgium. There are also five commodities stocks to choose from, including precious metals, industrial metals, and oil.

Another, somewhat unknown category of trade is the so-called Randoms. Binary.com tries to simulate markets with random indices. Depending on this, one can bet on particularly volatile variants or bull or bear markets. In our opinion, this is in any case an interesting possibility to expand your own trading spectrum. However, it is strongly recommended to deal with these instruments thoroughly before entering into real trading.

Another positive aspect with regard to the trading offer is the possibility of determining the expiry date of the contracts yourself. The terms can be chosen largely freely between one minute and one year.

A total of five different contract types can be traded on Binary.com. In addition to the probably best known basic version of the “up / down” contracts, there are “reached / not reached” contracts as well as “buy/sell” contracts. Furthermore, an “Asian” trading variant is offered and the possibility to use options to set changes in the decimal place. The “Achieved / Not Achieved” version is a variant that many traders may know as “Touch / No Touch”. The sole purpose here is to predict whether a certain price level will be reached during the term of the option, i.e. whether it will be touched or not. The “Buy / Sell” version is also basically a well-known version, which is about predicting whether or not a certain value will move within a certain price range.

A less known version in this country is the Asian trading instrument, where the trader can choose between Asian rising and Asian falling. It must be correctly predicted whether the last price within the contract term is above or below the average price of the option term. With “decimal point” it must be correctly predicted whether only the last digit of the price reaches a certain value or not.

New customer bonus only from time to time

With the bonus for new customers, it is always one of those things. Almost every provider has a corresponding regulation in their general terms and conditions but these promotions are not always offered. At Binary.com we, unfortunately, did not have a special bonus offer during our test period, neither for new customers nor for existing customers. However, a look at the terms and conditions reveals that this is to be expected from time to time.

So if you are currently active with another binary options broker and are still waiting for the right opportunity to switch, you should take a look at the Binary.com site from time to time. If you are not patient, you can of course also try to contact customer service directly. It is not uncommon for a special bonus to be traded out if you ask for it directly. However, we do not recommend the strategy of choosing the right provider solely on the basis of a possible bonus, but always consider the actual conditions and keep an eye on your budget when making deposits. If these things are taken into account, there is of course nothing to prevent the injection of trading capital in the form of a bonus.

Deposits and withdrawals: Numerous options on offer

As an international provider with a presence in many markets, Binary.com also offers a huge range of options for transferring money to your trading account and withdrawing funds. Basically, it is important to note that you have to choose a payment method when you register, but then you always have to use it. Of course, this payment method can also be changed again later, but this always involves a certain administrative effort in the account settings.

Available payment methodBank Transfer, Western Union, Credit Card,Skrill, Neteller, Moneta, Webmoney, Qiwi, Paysafecard,
Minimum deposit5 Dollars
FeesNo
Available currenciesUSD,GBP,EUR,AUD
Withdrawal optionsCredit Card, Bank transfer, Neteller, Skrill, Webmoney

Payment methods

Altogether, Binary.com offers three basic options. In addition to the electronic bank transfer, the payment can of course also be made by credit card. In addition, there are also several ecash providers available – including well-known providers such as Neteller, WebMoney, or Skrill Moneybookers. On the part of the provider, no fees are charged for deposits and withdrawals. The minimum amounts for deposits and withdrawals are usually only five to ten Dollars but vary depending on the provider.

Security and regulation: Binary.com is licensed in Malta and Great Britain

First of all, Binary.com justifiably claims that the success story that has been going on since 1999 alone is a certain guarantee for security and reliability. Nevertheless, the investor can also rely on tangible regulations that guarantee a high level of security for the deposits. The provider is licensed by the authorities in Malta and Great Britain. Both states are members of the EU and therefore guarantee the corresponding community standards. Binary.com has always managed customer deposits separately and deposited exclusively with AAA rated banks. Even if the online broker were to become insolvent, customers’ money would not be at risk. Based on our experience, the investor can be reassured and need not worry about fraud and rip-offs.

Support and customer service: good offer for all customers

With an extensive range of underlyings and a broad customer base, there is no shortage of questions that cannot be answered by looking at the website alone, even though the information provided there is very neat and tidy. In this case, specific telephone numbers are available for different countries. There is also a separate hotline for Germany. Furthermore, as a customer of Binary.com you have the possibility to contact the company via live chat and of course there is also an own email address. While waiting times can occur with the telephone, a quick processing is very likely with the chat.

Binary.com also goes to great lengths to provide its customers with additional knowledge about trading binary options. In addition to many offers on the website itself, there is a blog in English, which regularly deals with various topics related to trading with binary options. The webinars that take place at regular intervals are also very interesting. About once a week a webinar is offered. The subject of these offers are trading strategies for advanced investors, such as special forms of chat technology or certain asset classes such as commodities. However, these offers are also only available in English.

Support available: 24/7 via live chat
Telephone:00221 98259000
Adress:support@binary.com
Languages: 1

Website and mobile trading

All in all, we found a very well structured website at Binary.com, which also provides all-important content and information for German customers. Via a clearly arranged menu, you can quickly find the categories you are looking for. In addition, the website offers a wide range of market information and its own analyses, which can be used to guide trading decisions.

The trade itself is processed via a trading platform, which in principle is very simply structured, making it possible to start trading quickly. Binary.com also uses additional tools rather sparingly. At the very least, live charts for the traded underlying can be called up. For any analysis beyond that, however, you will have to make do with other tools. The customer will also find a separate app for trading in the offer. This makes it possible to access the hub with a smartphone and participate in trading. With Binary.com you do not have to do without mobile trading.

Conclusion

With Binary.com, we have tested a provider with which the investor is flexible and can take advantage of a great many opportunities. With a small restriction in terms of share values, this applies with regard to the trading offer and especially the trading opportunities. In addition to several instruments, above all the duration of the contracts can be chosen completely freely, so that the trader can choose between one minute and one year. In terms of support and service, however, the provider is clearly geared towards an English-speaking customer group. This is also true with regard to the question of deposit security. Not only our experience has shown that everything is in order here and there is no threat of fraud or rip-off. By the way, more than 15 years of successful company history, as well as the governmental authorities of Great Britain and Malta, also stand for this.


Most asked question:

What trading Instruments are offered?

With Binary Options you can trade with different trading instruments like MetaTrader 5, SmartTrader, or the Binary WebTrader. There is also the possibility to trade via mobile phones or other mobile devices. It is possible to trade stocks, forex, CFDs, indices, and cryptocurrencies via CFDs or Binary Option.

What is the minimum deposit?

Unlike other online brokers, Binary.com offers its clients low minimum deposits. Therefore, you can start trading with a minimum deposit of $5. In addition, the risk is very low.

Is there a free demo Account?

Yes, Binary.com offers a free demo account with virtual funds. You can create this account in a few seconds and test the platform.

Can I Lift my Withdrawal Limit?

Of course, it is possible to lift the withdrawal limit of the account. Unfortunately, it is only possible when the verification process of the account is finished. To check that, you can see your withdrawal limit in your personal account.

One Response

  1. Andre Witzel September 8, 2020

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