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Banc de Binary – Detailed Review and Trader Comments

3.8 / 5

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Banc de Binary (BdB) can be named one of the leaders of the binary options trading services industry. In the recent years BdB were awarded a number of titles, such as ‘Broker of the Year’, ‘Best Platform of the Year’, ‘Safest Broker’, and ‘Best Customer Support’. The company is able to successfully combine innovative technologies and years of experience on financial markets with high-quality customer service. BdB provides services in over 100 countries all over the world. Banc de Binary is controlled by CySec in the EU (license number 188/13) and follows the norms and regulations of MiFID. Its activity is also regulated by the FCA (Financial Conduct Authority), with the following license number: 596375.

Awards and sponsorship

1. General information

Banc de Binary was one of the first companies to offer binary options trading, and as of today they have become one of the leaders in this segment and one of the few ones to have been licensed by the FCA. Banc de Binary has been in operation since 2009 having grown from a start-up to providing its services to over 250 000 clients in 80 countries of the world. Financial regulator oversight, wide selection of underlying assets, as well as high quality customer service – all of the above help BdB clients feel assured that they are working with one of the most serious existing binary options brokers.

2. Advantages and disadvantages

Regulated by EU financial authorities: Banc de Binary if one of the few binary options brokers licensed by both CySec and FCA, which ensures high service quality and strict safety standards.

International recognition: BdB has won dozens of international awards, among which the Binary Options Leaders’ award in the ‘Best Broker in Europe’ category is worth a separate mention. Already back in 2013 it was recognised as the ‘Best Trading Platform’ according to ‘Binary Options Strategy’ and ‘Binary Options Daily’.

High security of transations: In order to keep their clients’ data safe, BdB uses the EV-SSL certificate, which is frequently used by the largest international banks.

A time consuming verification process: Since BdB is regulated by the EU authorities, all clients of this broker need to verify their accounts before being able to start trading. You are going to have to provide a scanned copy of your personal ID, as well as copies of a utility bill and your credit card.

No mobile app for Windows Phone: BdB only offers trading apps for iOS and Android users at the moment.

3. Trading conditions

Bank de Binary offers their traders a relatively wide selection of assets, with a choice from over 180 contracts on four types of underlying assets, including currencies, commodities, stocks, and indices. Currency pairs, such as EUR/USD, commodities (e.g. gold, oil), and indices and stocks of some of the biggest international companies are all within just one click’s reach. BdB clients also gain access to some of the highest bonuses on the European market. This includes first deposit bonuses (up to 100% of the initial deposit, depending on the sum), and also VIP bonuses, which are awarded to the most active traders with highest trading turnovers and trading account balances. Profitability of options contracts varies depending on the asset and can reach 91%, which is not a record number when compared to some of the other brokers, but is not a low figure either.

4. Trading platform

When accessing BdB’s trading environment, you will be presented with a choice of several stand-alone “platforms”, each tailored for a specific type of options contracts. It is worth mentioning that uses the term ‘trading platform’ for each separate type of asset, so if we speak in more general terms, we can say that BdB offers their clients a unified trading tool that includes four types of options: ‘Digital Options Pro’, ‘Long Term’, ‘60 Second’ and ‘Pairs.’

“Digital Options Pro” are the classical binary options with fixed exit terms and expiration times starting from 15 minutes. “Long Term” options will allow you to create trades on larger time intervals and even bet on the development of the economy, while the “60 Second” contracts allow you to trade on the shortest possible intervals and exploit short-term micro-trends. “Pairs” are designed for more experienced traders and allow forecasting the behavior of one asset against the other, e.g. Facebook against Google, or the NASDAQ index against the British FTSE. We would not recommend such contracts to novice traders though, as their risk levels tend to be higher than those of the previously mentioned instruments.

5. Types of trading accounts

In order to open a trading account with Banc de Binary, one does not need to commit money straight away - in other words, anyone can get acquainted with the platform before they decide to start trading. This broker offers four types of accounts, the main difference between which is the level of personalisation of the included services. ‘Micro Silver’ account owners with a minimum deposit threshold of $250 will be given access to all trading instruments and types of contracts, as well as 24/7 client support that can be contacted live on the platform, via email, or on the phone.

A ‘Standard Gold’ account requires a minimum deposit of $5000 and offers higher bonuses, while the Personal Account Manager Reserved Account, ($35000 and above) comes with a personal manager and access to a wider selection of trading signals and finance analytics. Clients with a VIP Lions Club account (starting from $50000) have access to extra market liquidity to help them maximize profits from their trading operations. It is worth mentioning that beginner traders will do just fine with the ‘Micro Silver’ account in order to test their skills on small amounts of money with low deposit thresholds.

6. Deposits and Withdrawals

After opening a trading account you will find that depositing money can be a rather challenging task to perform. Since BdB is regulated by the several authorities in the EU, it will require you to verify your account straight away. Once this is done, you will be able to deposit money in a variety of ways, including Skrill and Payza digital wallets, as well as all major credit card brands and bank transfers. This service, as well as withdrawal, is free of charge and has no hidden commissions. In order to deposit funds, you need to click on the ‘Deposit’ button in the top right corner of the broker’s website, choose the type of deposit and enter the required information. Traders can place a deposit within minutes, and the money will appear on their account immediately after the operation has been completed.

Traders willing to withdraw funds will need to click on the ‘My account’ button at the top of the page, while being logged into their personal account. Before you fill out the form, you need to choose ‘Request funds’ and click on ‘Accept’. Traders are informed about completed transactions via email.

7. Trader education and training

According to Banc de Binary, financial literacy is one of the key aspects in becoming a top trader. New clients will be pleasantly surprised by how easy it is to access the wide selection of learning materials. These include a reading list, an interactive online course, trading webinars, blogs, an electronic manual that offers descriptions of all types of available binary options, and a daily review of the market offered by the analytics team at BdB. Traders are even allowed access to free trading signals offered by the leading analysts in the field, all to help them make the right trading decisions. It is also worth mentioning that you can always contact a client manager in order to discuss a trading strategy, which, in many cases, can prove quite helpful.

8. Client support

BdB being an international company, its clients have the opportunity to access support services 24/7 in case of questions or technical problems. In spite of the constantly growing number of traders, BdB still manages to provide personalized approach to each of their clients – your trading results will surely benefit from the attention, support, and individual coaching. BdB’s customer support service has been recognised as one of the best in the industry - FX Empire and Forex Partners awards, as well as IAIR award for ‘Supreme quality in binary options trading’ speak for themselves.

9. Should I choose Banc De Binary?

BdB has been quite successful at combining their international experience acquired in the recent years with the many years of binary options trading, allowing them to create a high class services package.

High level of technical and legislative protection, as well as a modern trading platform, wide range of assets, and a selection of high quality training materials allow Banc de Binary to offer their clients a very impressive product. Do not forget, however, that their minimum deposit threshold is rather high ($250), and that you will have to undergo a rather lengthy verification process. Overall, BdB could be an interesting choice for those who are interested in profiting from financial markets and value the safety of their funds and transactions.

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Reviews on Banc de Binary

Comments about Banc de Binary
( 5 )
User rating: 4.1 / 5

Comments: 5

  1. avatar

    Looks solid. Has anyone tried this broker yet? I’d like to hear some real trader opinions

  2. avatar
    Elizabeth Ruth

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