Banc de Binary is a binary options broker service which commenced operations in 2010. This brand is owned by Banc de Binary Ltd, a broker which is licensed in Cyprus by CySEC.
Bonuses and Promotions
Bonuses issued on Banc de Binary are usually left at the discretion of the account executives, giving traders the ability to negotiate bonuses on an individual basis. However, several types of bonuses exist on Banc de Binary:
- Welcome bonus: There is always a bonus awarded for first time deposits on a Banc de Binary account. The trader can negotiate for a bonus amount which ranges from 50% to 100% of the deposited amount.
- Special Trading Bonuses: These bonuses are used to get traders to deposit more funds into a trading account so that they can participate in explosive market events which cause increased volatility.
- Consistent Deposit Bonus: This bonus is used to encourage re-deposits into dormant accounts on Banc de Binary.
- Affiliate bonuses: These are special bonuses given out for Banc de Binary sign-ups from certain affiliated firms and individuals.
- VIP Rebate bonuses: Like many brokers, VIP Rebate bonuses are given to VIP account holders and are used to give such traders a refund of their invested amount on attainment of a particular trade volume in a month.
Payouts and Trade Types
The trade types which are available on the Banc de Binary platform are as follows:
- Classical (Up/Down) option: This is the trend-based trade which has a payout of at least 70%, with a maximum of 85%. Payouts tend to fluctuate within this range and are affected by use of the Loss Return function, time of trade, expiry time used as well as use of the Rollover function.
- Pairs option trading pits the performance of one asset with another asset in its class. The payout of this option is between 70% and 85%.
- Long Term binary option, which is an Up/Down option with a minimum expiry time of 24 hours. The average payout is between 75% and 85%.
- 60 Seconds option is the Up/Down option with a 60 seconds expiry time. The average payout for this trade is 65% to 70%.
Banc de Binary offers 174 assets pooled from 30 different countries, thus giving the asset index a wide geographical spread. The listed assets on which binary options are traded are:
- Commodities: Crude oil, wheat, gold, silver, sugar, corn, coffee.
- Currencies: AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/JPY, EUR/AUD, EUR/CAD, EUR/GBP, EUR/JPY, EUR/USD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/USD, NZD/JPY, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/MXN, USD/RUB, USD/SGD, USD/TRY, USD/ZAR
- Stocks: 3M, AIG, Alibaba, Allianz SE, Amazon, ANZ Bank, Apple, Axis Bank, Banco Santander, Bank of America, Barclays, Bayer AG, Baidu, Blackberry, BMW, Boeing, BNP Paribas, BP, British American Tobacco, Citi Group, Cheung Kong, Coca Cola, Daimler AG, DANONE SA, Deutsch Telecom, Disney, FIAT, France Telecom, Gazprom, Goldman Sachs, Google, HSBC Holdings, IBM, JP Morgan Chase, MICROSOFT, NATIONAL AUSTRALIA BANK, NETFLIX, ORANGE S.A., PETROBRAS, PFIZER, PUBLICIS GROUPE, RENAULT, RIO-AU, RIO TINTO, ROSNEFT’, S.BANK INDIA, SAB MILLER, SAUDI BASIC INDS, SAUDI REFINERIES, SBERBANK, SIEMENS AG, STARBUCKS, TATA MOTORS, TATA STEEL, TESCO, TESLA, TEVA.TA, TOTAL S.A.,
TOYOTA Unilever, UBS, Vivendi SA, Vodafone, Volkswagen, Volvo, Wynn Resorts, Yahoo!.
- Indices: ASX, Bombay SE, Bovespa-F, DAX, Dollar Index, Dow, Dubai, FAZ Short Banks, CAC40, FTSE100, Hang Seng, IBEX, Jakarta SE, KL Futures, KOSPI, MICEX10, NASDAQ, Nikkei225, PSI20, Shanghai 180, Shenzhen 300, SMI, Strait Times, Tel Aviv25, VIX.
Deposits and Withdrawals The minimum transaction amount on Banc de Binary is $500. The transaction methods on Banc de Binary are:
- Bank Wire Transfer (International and/or Domestic)
- Credit Card (Processed via a clearing agency)
- Third Party Credit Card (Processed via Skrill)
- Skrill (MoneyBookers)
- Alternative payment methods such as AstroPay, Boleto, CashU, Dineromail, Lobanet, Moneta, POLI, POLINZ, QIWI, China Union Pay, Yandexmoney.
The minimum deposit amounts for each transaction method are as follows:
- Credit Card: $250/€250/£250
- Electronic Payment: $250/€250/£250
- Wire Transfer: $500/€500/£500
Pros and Cons
- The array of 200 assets from over 30 countries gives traders a wide array of assets to choose from when trading on the Banc de Binary platform and also paves way for trading of familiar assets by traders in a region.
- Banc de Binary provides demo accounts for its traders.
- Banc de Binary has a binary options license from CySEC.
- The discretion applied to deposit bonuses allows traders to negotiate the exact bonus that they feel comfortable with. Nothing is forced on the trader.
- Banc de Binary has a well-stocked learning resource centre on its website.
- Restrictive licensing. Banc de Binary lost its license from CySEC and only has licensing from Belize.
The customer support information concludes our review of Banc de Binary. Customer support can be accessed in the following ways:
- Live chat
- Email: email@example.com
- Phone: 1-800-656-6163
Banc de Binary is a regulated broker which has done quite a lot to boost its image and strengthen its binary options offering. This broker is worth considering because it allows traders to select assets which are from their geographical location and so provide some degree of familiarity which may aid success in trading.