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Review 2022: Trading App; Platform - Is It Safe?

by Concetta Elmore (2022-03-08)


Binary.com Review.
Binary.com is an online trading platform that allows you to trade binary options 24/7, even on weekends. Binary.com was established in 1999 under the brand name BetOnMarkets.com before rebranding to Binary.com nearly 10 years later.
Binary.com is owned by a company called Binary Group LTD. Binary.com has local offices in Malaysia, Malta, Paraguay, and the UAE. With over 1,000,000 registered users and over 20 transactions per second, Binary.com is one of the oldest and most respected names in the binary options industry.
But is Binary.com right for you? Can this broker be trusted? In this Binary.com review, I'm going to tell you everything you need to know.
Table of Contents.
Binary.com Trading Platforms.
In order to cater to the needs of both beginners and advanced traders, Binary.com has several different trading platforms you can choose from.
Beginner Platforms.
For beginners, you have the option of using their Deriv platform or SmartTrader . Both of these platforms are custom-built and specifically designed for binary options trading in a simple and easy-to-use interface. With both Deriv and SmartTrader, you have several different trade types to choose from including:
High/Low Rise/Fall Touch/No Touch.
A nice feature that Binary.com has is the ability to set your own expiry time, ranging anywhere from 1 day up to 1 year.
Advanced Platforms.
For the advanced trader, you can choose between MetaTrader 5 and Binary WebTrader.
MetaTrader 5 is a multi-asset trading platform that is recognized as the global standard. With MetaTrader 5, you can trade FX, CFDs, and Binary Options with 1 powerful platform.
Binary WebTrader is an advanced binary options trading interface that allows you to monitor the movements of your favorite assets and markets simultaneously. With it's full-screen interface, you can arrange all of your essential charts, asset index, historical data, and market movements however you see fit. This platform is available in 13 different languages as well.
Binary.com also has an auto-trading tool that allows you to automate your trading strategies using a simple drad-and-drop bot creation tool.
Payouts.
Binary.com has some of the best payouts among binary options brokers. The profit you make on successful trades will depend on the type of trade, the expiry, and the asset. However, you can achieve returns above 100% on rise/fall trades and binary option as high as 1,000% on high/low and touch/no-touch trades.
Financial Instruments.
Binary Options - Binary options are the simplest type of contract you can trade on Binary.com This type of option trading offers a fixed payout based on a simple yes or no proposition.
Lookbacks - A lookback is a type of trading contract that has a payout that depends on the optimum low or high achieved by the market. This type of option allows you to "look back" over time to determine the payout.
CFDs - A CFD (Contract For Difference) is a type of financial derivative that allows you to trade on the movement of an underlying asset without actually owning the asset itself. CFDs are a complex financial instrument and it does carry a high level of risk due to its leverage.
Forex - Trading FX allows you to buy, sell, and exchange currency pairs on the global market.
Account Types.
Demo Account.
Binary.com offers a free demo account where you can practice trading with virtual money. This allows you to sharpen your trading skills and test new strategies without risking real money. Demo accounts are funded with $10,000 in virtual funds for you to practice with.
Real Account.
You can open a live trading account with Binary.com with an initial investment as low as $5, which is quite a bit lower than most binary options brokers. A real account gives you access to the beginner platforms, the advanced platforms (including MetaTrader 5), as well as their mobile app for on-the-go trading.
Regulation.
Binary.com is a licensed and regulated broker with over 1,000,000 traders globally. To comply with regulations around the world, this broker holds multiple licenses from different regulatory bodies.
In Europe, Binary.com operates under the company name Binary Investments Ltd and is regulated as a Category 3 Investment Services provider by the MFSA (Malta Financial Services Authority) with license no. IS/70156.
For clients outside of the EU, USA, Canada, and Hong Kong, Binary.com operates under a company called Binary (SVG) LLC. This company is located in St. Vincent and the Grenadines under company number 252999 BC 2019.
For clients that want to open a FX or CFD Metatrader 5 account, Binary.com is regulated by the VSC (Vanuatu Financial Services Commission), British Virgin Islands Financial Services Commission, and Labuan Financial Services Authority.
Mobile Trading.
Binary.com offers a binary trading app called binary option broker Tick Trade, which allows you to trade binary options on the go. With the mobile app, you can execute trades, check your account status, and deposit funds just like you can with their web platform. The Binary Tick Trade app is available for iOS and Android. You can download this application from the Apple Store or from the Google Playstore.
Assets.
Binary.com has 58 different assets to trade including stocks, commodities, currency pairs, and indices. This broker doesn't offer as many assets to trade as other brokers, but it's still enough for most traders.
Commodities - Gold, Palladium, Platinum, Silver, and Oil Currency Pairs - All the major pairs including EUR/USD, GBP/USD, EUR/CAD, AUD/JPY, USD/CHF, and many more. Indices - Hong Kong Index, Euro 50 Index, UK Index, US Index, Wall Street Index, and more. Synthetic Indices - Volatility 10 Index, Volatility 75 Index, Bear Market Index, Bull Market Index, and more.
Deposits and Withdrawals.
Binary.com offers a variety of payment methods to add money to your account.
Wire Transfer.
For bank transfers, the minimum deposit and withdrawal amount is $500. The maximum deposit and withdrawal amount is $100,000. The currencies accepted include USD, GBP, EUR, and AUD. The processing time for standard bank transfers is 1 working day. If you're using an Internet Bank Transfer, deposits can take as little as 15 minutes. If you're using PayTrust, deposits are instant.
Credit Cards.
For credit and debit cards, Binary.com accepts Visa, Mastercard, and Maestro. The currencies accepted for credit cards include USD, GBP, EUR, and AUD. The minimum deposit and withdrawal amount is $10, while the maximum deposit and withdrawal amount is $10,000. Deposits are processed instantly and withdrawals can take up to 1 working day. It should be noted that Mastercard and Maestro withdrawals are only available for UK clients.
E-Wallets.
Binary.com accepts all major E-Wallets including Fasapay, Perfect Money, Skrill, Neteller, WebMoney, QIWI, Paysafe Card, Jeton, iWallet, STICPAY, and Airtm. The minimum deposit and withdrawal using E-Wallets is $5, but the maximum amount will vary depending on which e-wallet you use. With E-wallets, your deposits are instant and the withdrawal processing time is $1.
Cryptocurrency.
Binary.com accepts several different cryptocurrencies as a form of payment including ETH (Ethereum), LTC (Litecoin), UST (Tether), and BTC (Bitcoin).
Why Choose Binary.com As Your Broker?
Sharp Prices - Binary.com's patented pricing technology gives you the same return rates as traders in the interbank market. No hidden fees or commissions.
Flexible Trades - With Binary.com you have a lot of flexibility with your trades. You have a variety of trade types, the ability to choose your own expiry time, and the option to select your own payout from $1 to $50,00.
Controlled risk - If you use Binary.com as a broker, you'll understand the risk and reward of each trade before you purchase a contract. You have the ability to sell your option before expiry to keep any profit you've earned or to minimize your loss.
Safety and Security - Binary.com has been a trusted broker since they originally launched their platform in 2000. They are licensed and regulated by multiple agencies including the Malta Financial Services Authority, Vanuatu Financial Services Commission, British Virgin Islands Financial Services, and Labuan Financial Services Authority. All funds deposited are segregated into separate bank accounts to keep your money safe and secure.
Reputation - Binary.com has over 2 billion dollars worth of trades to date. They've won numerous awards throughout the years including:
Best Trading Platform in Asia - 2018 Global Brands Magazine Best Binary Company in Asia Pacific - 2018 Global Banking & Finance Awards Best Binary Options Broker - 2017 Online Personal Wealth Awards Best Fixed-Odds Firm - 2012 Global Banking and Finance Review Best Fixed-Odds Broker Silver Award - 2010 Trade2Win.
Customer Support.
For your convenience, the Binary.com website is available in 9 different languages including English, Spanish, French, Polish, Chinese, and Italian. As for customer support, you can use their contact form to request help by email or you can call their toll free phone number (+44 800 011 9847). Unfortunately, the Binary.com customer service team does not offer live chat support, which is a disadvantage for some.
Final Thoughts.
In my honest opinion, Binary.com is one of the top binary option brokers in the industry. Their platform offers excellent payouts, mobile trading, multiple trade types, and a variety of payment methods to fund your account. Binary.com is simple enough to use for beginners with minimal trading experience, while also offering enough features to satisfy even the most advanced option traders. And most importantly, Binary.com is licensed and regulation by multiple regulatory agencies.
* The products offered on the Binary.com website include binary options, contracts for difference ("CFDs") and other complex derivatives. Trading binary options may not be suitable for everyone. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, the products offered on the website may not be suitable for all investors because of the risk of losing all of your invested capital. You should never invest money that you cannot afford to lose, and never trade with borrowed money. Before trading in the complex products offered, please be sure to understand the risks involved.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.