Binary.com (formerly BetOnMarkets.com) is an award winning fixed odds financial betting broker that is based in the Isle of Man and Malta. The platform is owned and operated by the Regent Markets Group with extensive business interests in the Asian Pacific region. Operating as an online gambling platform, binary.com is fully licensed and regulated by the Isle of Man’s Gambling Supervision Commission as well as the by the Lotteries and Gaming Authority in Malta. The reason why there are two operational bases is because the broker uses different corporate vehicles to serve clients in the European Union market and U.K’s market.
This global approach is reflected in their new Bitcoin account. It allows traders to fund an account (and trade) using Bitcoin cryptocurrency. At present however, the account is only open to non-EU account holders. Payment methods have also been expanded to include Ethereum and Litecoin as the firm embrace blockchain technology and established cryptos.
At first glance, one can see that the trading platform offered by Binary.com is quite unlike all the other platforms normally seen with other binary brokers. For one thing, the interface is deceptively simple. All the basic functionalities are there. There is actually really nothing extraordinary with Binary.com’s platform until you scroll further down…it’s a different picture entirely. We were pleasantly surprised to find that this platform offers such a comprehensive charting feature for their platform.
In addition, traders have the option to obtain the list of daily prices and intraday prices from the tabs located just below the main trading platform. The prices displayed are quite detailed show even the percentage change on the right side of the price quotes.
As mentioned earlier, one unique feature about Binary.com trading platform is the charts they provide. Traders can choose between the different types of displays available:
- Line Charts
- Interactive Charts
- Pop-up Charts
- Legacy Charts
As Binary.com is not your typical binary options broker, the types of trading contracts they offer differ slightly from mainstream binary contracts. For example, traders can choose from:
- Rise/Fall Option Contract
Traders will decide if the expiry price will RISE or FALL from its current spot price.
- Higher/Lower Option Contract
Traders will decide if prices will end up HIGHER or LOWER than a predetermined price target.
- Touch/No Touch Option Contract
Payout is made when prices Trade TOUCH or NOT TOUCH a predetermined price target during duration of the contract.
- In/Out Option Contract
The aim is to see if prices will be IN between or OUT of two price targets.
- Tick Trades
Similar to 60 seconds options, traders here decide which way the market will go in 5 ticks of price movements. Tick Trades are further classified into:
- Up/Down Trades
- Lucky 10 Digits
- Quick 10%
Demo & Trading Accounts
One great thing about Binary.com is the fact that they let would be clients try out their platform with a demo account with $10,000 virtual money. This is not something you find often with other binary brokers. Most other brokers will require that you login and place a deposit first before they let you access their trading platform.
Once a trader decided that he wants to open a live trading account with binary.com, all he has to do is to fill up the registration form, login, and place a very small minimum initial deposit of $/£/€ 5.
Trading Software Features
The payout ratios at binary.com vary from around 60% to 110% depending on the contract types. The exact payout can be seen the right side of the trading platform. Traders should that note that the ratio changes constantly according to the market fluctuation.
The list of asset available is truly wide ranging. Traders can choose from Forex, Commodities, Stocks, Indices and the Random Index and Quotidian Market. To get an idea of what is on offer; readers can visit their website to view the full list.
Customer support is available 24 hours a day from Monday to Friday. Basically, traders can choose from emailing them, calling them or requesting a call back.
Because Binary.com is operating as an online gaming platform, they are currently being regulated by the gaming regulatory authorities in Malta and the Isle of Man. However, this is likely to change in the near future as Malta is currently looking to regulate the trading of binary options on the island. So before that happens, traders have to rely on the gaming authorities to protect their legal rights.
Nevertheless, one has to remember that Binary.com is part of a multinational conglomerate so it is unlikely that they will do anything illegal to jeopardize their corporate image.
The mobile app is another very strong offering. As with the rest of the trading experience, the app retains the binary.com look and feel. The unique trading platform stays the same on the mobile version, and the company ensure that the app is optimized for each particular device and operating system. The android app for example, has been designed to maximize the abilities of android devices. Likewise Apple products such as the iPad and iPhone will see features unique to that operating system.
This attention to detail is a large part of what has kept this brand at the sharp end of the binary options industry since it began.
The mobile app delivers a slick, but easy to use trading platform for ensuring traders can make and maintain trades at any time. It is another plus for the firm.
Binary.com offer their ‘Binary Bot’ service, which is another innovative feature. The leading brokers are all rushing to make similar features available. It gives traders the ability to configure and build their own auto trader.
So traders can build an automated trading robot, based on their own system or winning strategy. They can then set the robot ‘live’ to trade whenever the market conditions trigger the criteria laid out by the trader. The building tool has a great walk through demo before traders are let loose with it – and best of all, it can be tested before you sign up or login with a live account. So it can be tried out risk free. Here is the robot builder screen:
Is Binary.com a Scam?
Binary.com are one of the most respected brands in binary options. They were started and grown by well respected traders and are now a multinational corporation that does not need to indulge in any sort of ‘scam’ behaviour that might be seen elsewhere in the industry. This brand can be used with absolute confidence.
Binary.com have withdrawn their deposit bonus offer. At present, there are no existing free trade, or ‘no deposit bonus’ promotions in operation.
Strategy needs to be thought about in a distinct way for Binary.com. The method of selecting expiry time is unique, and so any winning strategy needs to consider that. The flexibility offered by both the trading platform and the software itself (in terms of expiry, and contracts) means that winning trades are within the grasp of any trader willing to put in the time and effort to hone their strategy.
This is one of the main reasons why this particular broker remain the favored choice of advanced traders. The firm deliver a range of advanced platforms too – offering both MT4 and MT5 (MetaTrader) integration – and the innovative auto trader “Binary Bot” tool.
The Binary bot allows traders to create their own bots or auto trading setups. The firm also offer integration way beyond what other firms may offer. The bot allows retail investors to access some of the features restricted to more established signal services or auto trading advisory services.
Tick trade strategy is something that is only possible with Binary.com, and the tick trade platform is not something that has been replicated elsewhere. Specific strategies however, need a section of their own, so for those looking to read up on existing systems, take a look at our strategy pages.
The fact is I was won over by what Binary.com has to offer to its clients. They made it easy to open a live account by setting a low minimum deposit of just $/£/€ 5 (depending on your currency of choice). In addition, their trading platform is truly unique with charting tools as advanced as a dedicated Meta Trader platform (both mt4 and now mt5). Their long operational history and the fact that they are a subsidiary of a larger entity give me the peace of mind to trade with them. So if you are looking for a different kind of binary broker than what the industry has to offer, have a look at Binary.com.