The result of binary options trading directly depends on how the broker works. Opening and closing trade on non-market quotes or with a long delay can lead to a loss for the most profitable strategy or binary options signals. Also, we want the broker to have no problems with the withdrawal of profits and customer support. If you plan to practice options for a long time and professionally, you should pay attention to the company Binary.com.
About the company and licensing
The broker began work in 2000 and was one of the first to provide access to binary options. According to the official website, by the end of 2019, the number of active accounts is about 100 thousand, 197 million transactions worth more than 1 billion dollars. Clients earned and withdrawn $ 140 million. The numbers may seem average compared to the Forex market, but for this market, it is quite a decent amount-profits are constantly growing, which indirectly confirms the stability of the company.
The situation with licensing and protection of clients rights compares favorably with competitors. If the company is based on the offshore jurisdictions of Vanuatu and Saint Vincent and the Grenadines, the European clients are served by a branch in Malta that has the right to operate in the EU and the UK.
Registration, account and trading assets
Binary options trader can start trading as quickly as possible. You just need to enter your E-mail and click on the link to confirm. Immediately open a real and demo account for 10 thousand dollars with the possibility of unlimited updates.
A client can have only one real account. The main currency of the account is determined by the first deposit, it is recommended to choose EUR or USD to avoid additional conversions when withdrawing funds.
Be careful when entering personal information. Enter real data to avoid possible problems with verification (confirmation) of the account. Your account allows you to set restrictions on trade so that you can think about how to make money on binary options to avoid a complete loss of your deposit.
Let’s see what trading assets are offered. All major currency pairs with several exotic ones are present, such as Norwegian and Danish crown, Mexican peso and Polish zloty. Commodity assets are represented by oil and precious metals (gold, silver and palladium, platinum). The trading platform provides real market quotes, the maximum deviation does not exceed 1-2 points, which is quite acceptable even on short-term options.
The following two types of trading assets represent the main difference between this binary trading site and other brokers: currency and Volatility (Synthetic) indices.
When you open an option, you can see a list of indexes such as “EUR index” or “Australian index”. It is important to understand that these are not real stock indexes like the S&P500 or NASDAQ100.
The broker considers them according to his methodology and how they are related to the real market is unclear, it is very difficult to find any patterns.
Volatility indices went even further and are completely computer-generated based on random numbers. According to the company, this is only a “real market simulation”. It is possible that they can also be traded profitably, but this review does not provide for their detailed consideration.
Terms of options.
For currency pairs, raw materials and indices based on them, a standard set of options such as “Rise/Fall” and “Touch/No Touch” is offered. For the “Stays Between/Goes Outside” options, the expiration period of the option starts from 1 day, which limits trading to medium and long-term trades only.
On synthetic indices, the choice is much greater. You can open the option for coincidence/difference of the last digit of the asset quotation at the time of expiration, only the growth/fall of the asset for a certain time, etc. But once again we remind you that we are dealing with artificial quotes and standard analysis methods almost do not work here!
Once you have logged in to the site, you can immediately start trading in the Smart Trader system. If you need additional market analysis tools, go to the binary trading platform Web Trader, where it is convenient to observe several open transactions, work with different price chart options and download the quote history.
Forex traders, in addition to binary options, can download the MetaTrader 5 terminal and continue to trade all assets without changing the strategy: without fixed expiration, using pending orders, Take Profit / Stop Loss levels, using technical indicators and automatic advisers.
The Binary Bot program allows users with minimal programming experience to automate the option strategy. The site has enough training materials for creating strategies of any complexity.
The list of ways to deposit withdraw funds contains all the main options, including popular among Russian-speaking WebMoney/QIWI clients and the most anonymous Perfect Money. The binary options trader who regularly withdraws profits should pay attention to the Neteller payment system with its own plastic card. It allows you to withdraw funds and pay at MasterCard receiving points.
Before use, read reviews about using a Neteller card in your country!
Regarding verification or confirmation of personal data, it all depends on the method of withdrawal. The initial withdrawal limit, after which the company can request confirmation, is set at 10 thousand dollars, but as practice shows, for VISA/MasterCard transactions, this can happen already at the first withdrawal.
Although it all depends on the security service, be careful when filling out the profile, especially not in English!
To summarize: Opinions about the company on forums and sites dedicated to binary options are more positive than negative and opening an account, even if it is only an exact binary option on a demo account, will be useful for both beginners and professionals:
- Since its inception, Binary.com has never given rise to doubt its reliability. At least find similar information including and the English-language Internet failed;
The company can be classified as “calm” in the sense that there are no regular calls from managers, E-mail spam with new promotions and other elements of aggressive marketing typical for most brokers. For beginners, the lack of bonuses for the first Deposit, contests on demo accounts and free signals can be a problem. If you want to trade long, large amounts in a quiet environment, choose Binary.
- The ability to open binary options directly in the MetaTrader trading terminal allows you to combine the “classic” binary options strategy and options for additional profit or compensation (hedging) of possible losses;
* Loyal attitude to verification of personal data when withdrawing funds to e-wallets.
As always, in addition to advantages, there are also disadvantages, which include a limited choice (in comparison with synthetic indices) of types of options for currency pairs, commodity assets, indices and the long reaction time of the technical support service.
E-mail response takes up to 24 hours, the chat does not always work even in English. But if you follow all the rules of work and do not produce suspicious actions, this is not a big problem.