Binary.com – Broker Review and Trader Opinions 2024

Binary.com is one of the first binary options brokers with many years of experience in helping traders of different levels to make a profit. This broker belongs to the RegenMarketsGroup – a company that has been focusing on investments since 1999. A couple of years into its operation, the company released its first binary options product – a broker called BetOnMarkets, which has later been rebranded to Binary.com.

RegenMarketsGroup follows the UK legislation and has passed inspections to prove its suitability to operate in the sphere of finances. The site is protected by the SSL security protocols and is built on an in-house platform. Quotes come from the interbank market without any intermediaries, reflecting real asset price movements in real time, without delays.

The reports of its financial turnover, which reaches over a billion dollars, serve as proof of the broker’s liquidity. Over 300 thousand traders choose the services of Binary.com, and the vast majority of those has positive reviews of the broker. Let us have a closer look at the company which has over 15 years of experience in trading and has created one of the first binary options brokers – is it worth being considered while choosing a binary broker, and what potential pitfalls are.

Reliability: As mentioned above, the company has been operating since 1999 and since then has proved its competence in the area of investments, which also involves binary options trade.

Low minimum deposit threshold: The minimum deposit is $5, and the minimum investment is $1. Such conditions allow almost any beginner to learn and practice trading with minimal risk.

A demo account: Each trader is provided with a demo account with a virtual deposit of $10000, which allows one to get used to the platform and to develop their trading skills without risking any real money.

Customer support: Each client can get real-time assistance with the help of an online chat.

A unique trading platform: Binary.com had their specialists develop a trading platform tailored to the needs and expectations of their clients. This guarantees a much better and efficient entry into each deal and helps avoid slippage.

High profitability: The profit made from a successful trade may reach or even go above 100%.

The platform takes some time getting used to: Binary.com offers a trading platform that has been built by its own specialists; which means it differs from the more standard and frequently used ones, and one may need a bit of time to become comfortable with all the aspects of trade through this platform.

No mobile app: The platform has not been adapted to work on mobile devices.

Binary.com offers its clients a unique trading platform that is constantly being updated and improved. The minimum deposit threshold is $5, the minimum investment is $1, while the maximum is $100 000. This allows everyone – including inexperienced beginner traders and professional traders with existing expectations – to work with Binary.com. Free demonstration accounts make it even easier for the former group to start their patch towards market mastery.

Profitability of successful trades ranges from 60 to 110 percent, and sometimes even higher. Compensation for losses is not provided, and there isn’t a mobile trading platform as of the time of writing.

The diversity of instruments available on this broker’s platform is quite impressive. The number of available assets exceeds 170. You can trade in shares of large companies, global stock indices, forex currency pairs, commodities, and a unique asset called Random, the price of which is generated automatically and does not depend on external economic factors. The choice of currency pairs involves the classical EUR/USD, USD/JPY, GBP/USD etc., as well as some more exotic ones.

One of the significant advantages of this broker is its own trading platform that has been designed within the company and adapted to meet the specific needs of its clients.

Clients can trade in four types of options contracts. In each of them, the minimum amount of investment is $1, and the maximum is $ 100,000. In addition to the deal size, it is also possible to set the desired profitability level, and the platform will automatically activate the appropriate lot. The various types of available options contracts are discussed in more detail below:

• Binary option. This type of option is a classic type with the outcome of the deal depending on whether the asset price closes above or below the starting level at the moment of expiration. The latter is selected either for a certain time period (e.g. 15 seconds), or until a certain point in time. The average payout on a successful trade is 70-80%, however in some cases, i.e. on riskier bets, it can exceed 100%.
• “Above/Below”. To trade with this type of instrument, it is necessary to determine if the price of the selected asset is going to reach the level set by the trader prior to the transaction. Expiry period in this case is at least seven days, and the average payout is around 85%.
• “Touch”. In this case, the trader needs to predict if the price will reach the specified level during the lifetime of the option at least once. In case the trader wishes to predict the opposite, there is also an opposite option called "No Touch”. The average payout is around 75%, and the minimum expiry period is seven days.
• “Inside/Out of range”. On other platforms this option is also sometimes called “Border” or “Corridor”. The platform defines two price levels, and the trader should determine whether the price at the time of expiration of the option is going to lie inside or outside of the range. With a positive outcome, the trader earns a ca 75% profit, while the minimum expiry period is also seven days.

In the case of an erroneous forecast one does not receive compensation, in contrast to some other options brokers. The platform focuses mainly on currency pairs, as well as major stock indices. As already noted, the new user will need to take some time to get used to the interface and is thus advised to start with a demo account and then move on to the real one.

In order to open an account, one needs to fill out a form on the broker’s official web page, indicating one’s personal details, email, and password, which will be followed by a confirmation email. Once all formalities are settled, you immediately become a user of Binary.com and receives access to the trading platform. One is also recommended to verify their account right away by sending scanned copies of the documents requested by the company, as this will have to be done during fund withdrawal in any case.

Trading accounts can be funded in EUR, USD, or GBP. The minimal deposit threshold is $5, and the maximum is $100000. One can use Visa, MasterCard, and UnionPay credit cards, or a standard bank transfer to deposit and withdraw money. Credit card deposits are almost instantaneous, while a bank transfer on average takes up to three days. Once your identity is confirmed, the withdrawal will take up to three working days. If the funds are requested through a bank transfer, one will have to wait for up to seven working days.

The demo account feature is one of the main advantages of this broker. Such account is identical to the real one: all the same assets, same types of option contracts, as well as other instruments are available here. One receives $10000 to their virtual account, allowing any trader to test the platform without having to risk their own money. In this way, one can learn the particularities of the platform, get used to it, give one’s trading strategy a test, and polish one’s trading skills.

You don’t need to make a deposit in order to activate your demo account. During the registration process you will be offered to choose the type of account you wish to open first.

Binary.com have created a special training section which contains reference materials that will allow beginner traders to understand the basics of binary options on this broker’s platform. In addition to that, it focuses on the principles of price movement and methods of market analysis. In general, the information available from this section will be useful not only for beginners but also to experienced traders looking to "refresh" their knowledge.

The company also organizes training and introductory seminars open to the general public from time to time. The link to the seminars can be found at the bottom of the broker’s home page.

The answer stems from the facts that we’ve mentioned above: Binary.com provides trading services to 300,000+ clients, having been in the business for over 15 years. All this time the broker has been making steps to improve trading conditions and upgrade its platform, which is designed with the user in mind and offers a wide variety of assets and other instruments that a serious trader might require. A fully operational demo account allows to perfect one’s trading skills, while the online support team members are always ready to help their clients. Binary.com is a logical choice for those valuing their time and the security of their funds.