Binary Review of the Oldest Binary Options Broker

Binary Platform Overview 2021

To start trading binary options in 2021, you need a proper platform to start with. Even though the number of useful resources on how to get into the process is vast, picking a trusty portal is the first crucial step to take. The article focuses on describing the grade-A trading software on the current market.

What Is Binary.com

Binary.com is a website dedicated to binary options trading internationally. Its history dates back to 1999, way before the majority of portals of this type. It caters to users globally, which is why it opened a new office in the famous offshore Jumeirah Lake Towers in UAE. The versatile range of products to trade here includes currencies, commodities, as well as stock and synthetic indices. In fact, the list features 173 trade instruments.

Company Details

To grasp the basics quicker, we decided to summarize all the essential info on the platform in the table below. It includes only up-to-date facts.

Broker

Binary.com

URL address of the website

Established

1999

Minimum deposit

5 USD

Lowest threshold for trade

1 USD

Highest threshold for trade

350,000 USD

Available bonus

Match bonus up to 500 USD

Demo account

10,000 USD virtual credits

Commission fees

Absent

Working hours

24/7

Withdrawal limit

None

Binary.com Registration Process

Signing up with your personal account is an unavoidable condition for trading real money here. This Binary review would be incomplete without detailed instructions on signing up. All the steps have a separate description for easier understanding:

Go To The Sign Up Page

Use the link from the table to launch the official site of the broker. In the upper-right part of the screen, click on the green binary.com login button and set up an account.

Verify Your Email Address

After providing a valid email address, you will have to prove it is yours. For this, click on the link in the letter from the customer care. The verification process is immediate and straightforward.

Verify Your Phone Number

Users can benefit from using a phone number while creating an account too. However, verification is obligatory. The site will send a message on your phone.

Complete Your Account Profile

To unlock the full-fledged functionality of Binary.com, it is necessary to fill in some additional personal information. The website also requires providing scans or photocopies of your identity documents.

Start Trading

Even though everyone can use a binary option demo account, after signing up, you may begin to earn and withdraw real money right away.

Is Binary.com Safe

Yes, it is indeed completely safe to use. It obtains multiple licenses from reputable authorities to provide its services in different regions legally. The availability of the following documents signifies the reliability and safety of Binary.com

Licenses obtained by the platform:

  • Deriv Limited;
  • Deriv Investments (Europe) Limited. Works for residents from European countries;
  • Deriv (SVG) LLC. For clients from other countries except for Canada, Hong Kong, and USA;
  • Deriv (V) Ltd;
  • Deriv (BVI) Ltd. For customers that trade CFDs on financial instruments;
  • Deriv (FX) Ltd.
  • The Financial Commission.

Funds Management

Binary.com guarantees that your funds stay secure after you accrue them. Moreover, it is the company’s responsibility to provide a convenient banking system with multiple banking methods. The clients should only deposit money in order to trade; the website is not a banking facility and it reserves the right to block accounts with multiple money transfers but not contracts.

Account Safety

The security of customers’ private data and banking details is the top priority for the platform. One of the aspects is backing up the total balance in cash or its equivalent to be able to payout 100% of the withdrawals at any given moment. As for the credit details, they are transferred to special networking with the help of the newest SSL encryption.

Demo Account Vs. Real Money Trading

Even though the difference might be too obvious, let’s compare the main ways to unlock the features of the broker.

Demo account

Real money

Pros:

- Great for getting into trading;

- $10,000 credits;

- Risk-free;

- Access to all the features.

Pros:

- Opens up an opportunity of earning real money;

- Allows using special tools like binary option robot, etc.;

- Full access to bonuses and offers;

Cons:

- No access to bonuses and special propositions;

- It is impossible to withdraw any of the credits.

Cons:

- Trading is risky;

- Verification of the data is necessary.

What Can You Trade On Binary.com

The array of instruments on the site is surely versatile and features all the common options. Browse through some of their nuances.

Binary Option/forex

The biggest international marketplace featuring currencies with high liquidity and trillions of dollars of turnover. Here you can simultaneously buy one currency and sell another, so it works as an exchange. Trading here implies dealing with multiple currency pairs, that is why it is essential to know their classification:

  1. Main pairs. Include the most popular and stable currencies (EUR/USD);
  2. Secondary pairs. Less common currencies with lower liquidity;
  3. Exotic pairs. Include a common currency (unavailable for USD) and a currency of the developing country.

Commodities (metals)

Earn money on predicting the price changes on the market of metals. There are 2 main categories of metals for buying and selling:

  • Industrial. Lower price but higher volumes of sales;
  • Precious. Significantly higher prices make these metals much harder to come by.

CFDs

Contract for difference allows earning money without buying or selling products on the marketplace. Traders earn money for predicting changes in the price of different products. This type of trading is versatile, as you can place CFD on any type of indices, products, or commodities. It is possible to open short or long positions to build up a unique binary option strategy.

Cryptocurrencies

With binary.com, you can trade both Bitcoin and Ethereum cryptocurrencies. Their main trait is the absence of regulation from a single authority and complicated cryptographic techniques that secure every transaction and make them virtually impossible to counterfeit.

Placing a contract on MetaTrader 5 means predicting the changes in prices of cryptocurrency pairs.

Helpful Trading Tools

Trading on binary.com is a breeze even for newcomers if they know about tools for smoothing the process:

  • Binary option signals. Indicators people or systems get after analyzing particular assets and trends of prices on them. Every user can receive them as alerts and take advantage of this data to make more certain predictions and place contracts successfully;
  • Charts. A basis for getting into online trading is learning to analyze charts. They provide all the essential information about the prices, sales, and purchases of the assets visually through graphics, which allows figuring out ongoing tendencies easier;
  • A decent broker. Of course, it is important to mention the necessity of finding a proper platform once again. With a reliable broker, you get access to other useful tools that will make your trading experience much more convenient and smooth.

Binary.com Trading Step -by Step

Now you have enough knowledge to get into trading itself. Follow the guide to get into the process easier.

Choose The Market You Want To Trade

On the main page of the site, there are 6 main international financial markets. Be aware that trading on each one of them has specific nuances to it, so we recommend devoting some time to choose the market. 

Make A Forecast And Analysis Of The Chart

The charts are the basic tools that yield up the most essential information for traders. It is impossible to get any leverage without understanding the trends of the prices. Therefore, before placing any contracts, you should put some time into evaluating the charts and properly analyzing them.

Choose The Amount You Want To Invest

Start slow and build up the investment amounts gradually. Conveniently, the starting amount of funds binary.com accepts is only 1 USD. It is essential to consider the amount of credits you want to invest while making the choice of the market too.

Set The Stop-loss And Take-profit

Stop-loss order, as you may have guessed, works to prevent traders from losing more money than the threshold he or she can set here. It goes well with fixed-time trades to tell the broker how many credits you are willing to risk on any particular contract. As for the Take-profit, it works the other way around; you can set the desired amount of profits you want to make with a contract, so the system closes it after reaching the specified numbers.

Start Trading

Confirm the contract and manage it manually or with the help of mentioned orders. It is also possible to purchase a special binary option robot that will generate trade signals and make deals for you.

Close The Trade Whenever You Want

The majority of contracts allow closing them at any point, which gives traders more freedom in terms of strategy. This is usually available for “Touch” options trading.

How To Deposit Money In Binary.com

Online trading cannot go far without real money deposits, so it is essential to take a closer look at the banking system of the website before accruing personal credits.

Supported Banking Methods

Some of the most common deposit methods available at binary.com:

Method

Minimal deposit

Maximum deposit

Supported currencies

Processing time

Bank transfer

500

100,000

USD; EUR; GBP; AUD

Around 1 day

ZingPay

10

10,000

USD

Immediate

Visa/MasterCard/Maestro cards

10

10,000

USD; EUR; GBP; AUD

Immediate

Qiwi

5

200

EUR; USD

Immediate

Skrill/Neteller

5

10,000

USD; EUR; GBP; AUD

Immediate

Bitcoin

-

-

BTC

3 blockchain confirmations

Ethereum

-

-

ETH

3 blockchain confirmations

Deposit Process

To accrue funds to your balance:

  1. Proceed to the “Cashier” tab on the main page of the website (the top row of tabs);
  2. Click on the “Deposit” button and select the most convenient payment method;
  3. Fill in all the information in the blank spaces;
  4. On the terminal tab, you will have to enter the password and confirm the payment;
  5. With most methods, you will receive a special PIN code you then have to enter to finish the transaction.

Fees And Limits

It should be mentioned that the platform charges no extra fees for money transactions. As for the limits, it depends on the particular banking option you choose.

Binary.com Withdrawal Explained

The process of withdrawal at binary.com is also quite straightforward - almost no special training or knowledge is needed.

Supported Methods

The availability of almost all payment methods for depositing as well as withdrawal makes the banking system of the site even more convenient.

Method

Minimum withdrawal

Maximum withdrawal

Supported currencies

Processing time

Bank transfer

500

100,000

USD; EUR; GBP; AUD

Around 1 day

ZingPay

10

10,000

USD; EUR; GBP; AUD

Up to 3 days

Visa/MasterCard/Maestro cards

10

10,000

USD; EUR; GBP; AUD

1 day

Qiwi

5

200

EUR; USD

1 day

Skrill/Neteller

5

10,000

USD; EUR; GBP; AUD

1 day

Bitcoin

0.00066

-

BTC

1 day

Ethereum

0.0011

-

ETH

1 day

Withdrawal Step By Step

After you log in, you need to follow some steps to withdraw funds:

  1. Open up a “Cashier” tab and opt for the “Withdraw” procedure;
  2. In a separate tab, open your email and click on the link in the letter from the site to verify that you initiated the withdrawal;
  3. Enter the required details and confirm the operation.

Fees And Limits

As we have already mentioned, all financial operations with a website are commission-free. However, you might have to exchange the currencies if the payment method does not support the one you have.

About Binary.com Bonus Offers

The main special offer you can count on is a no deposit bonus that is 10 USD. Use it to practice with real-money deals without risking your funds.

Bonus Terms And Conditions

The main condition is creating a valid account. Moreover, this specific promotion is only for new traders from Europe and the UK.

To withdraw bonus credits, the trader has to make the total turnover of the account 25 times larger than the value of the gift.

Binary.com App For Mobile Trading

Access to the full-fledged features of the broker through any mobile device is a huge deal for any modern trader. The portal offers a separate app available in AppStore and Play Market, allowing for better versatility.

App Overview

These are the key pros of the binary trading app to consider:

  • Similar look and uncut functionality, comparing with the desktop version of the site;
  • Quality of optimization with certain features for Android as well as iOS;
  • The app is completely free;
  • The small size of the app makes it worth downloading.

How To Trade With The App

The fact that the interface of the app looks and feels similar to the full website means there won’t be problems with getting used to it. Moreover, a single account works across all platforms, but users can create a new one in the application.

Customer Support

Main information about the customer help service:

Working time

Supported languages

Contact options

FAQ Forum

24/7

11 in total

Email, Live Chat, Phone

Binary.com Reviews From Traders

The website mainly receives completely positive reviews from its clients with only minor complaints, which you can check on any reputable website. For instance, on Trustpilot, it holds an average score of 4.2 out of 5 with over 1,8 thousand reviews in total.

Pros And Cons Of The Broker

Let’s summarize all the features and nuances of the website to wrap up the review.

Advantages include:

  • It is an absolute pioneer in the industry of binary options trading;
  • The neat and functional UI;
  • Access to multiple international markets with availability of as many as 73 trading tools;
  • A separate mobile app with an uncut list of features;
  • The versatile banking system with convenient payment methods, flexible limits, and absent fees;
  • Positive reputation among traders and outstanding level of trustworthiness.

Disadvantages:

  • No traders from the United States;
  • No Profit Bonuses.

Alternatives To Binary.com Platform

If you are still on the fence about joining the broker’s community, here are some decent alternatives that are also worth checking out:

  1. Olymp Trade. Almost 30 million clients choose it for the innovative approach to offering excellent services and 7 years of experience;
  2. IQ Option. Another leading broker of the industry. Here users may trade with 300+ assets and the functional interface, and tools will assist the process;
  3. Binomo. Broker’s history dates back to 2014 when it was launched. Currently, it offers a decent set of trading services with a responsive support team, and a separate mobile app;
  4. ExpertOption. The website features 4 different types of live charts with 8 versatile indicators. Choose from 100+ assets and stocks flawlessly;
  5. eToro. A major player in the industry with a launch date in 2007 focuses on the top-notch social networking system for traders out there.

Binary.com Review Final Thoughts

Looking for the answer to “what is binary trading?”, you definitely want to give this portal a try. It provides services of unmatched quality and only improves with time.