As an established binary options brand Binary.com is the end result of a company with its roots in the binary options sector since 1999. As the pioneers of binary options trading as an investment, they have changed their branding over time – previously known as BetOnMarkets.com – and changing to Binary.com in 2013.
In their formative years they were regular award winners and can now boast with a historical turnover of more than $2 billion in binary trades. In addition, they have over 1 million traders on their platform, handling over 1 million transactions daily. With the tag line “Sharp prices, Smart trading”, they have persevered as a leading binary operator despite competition. They offer a low minimum deposit for traders who wish to take minimum risk while assessing a binary options platform. For the more advanced trader, the flexibility of the trading platform, allowing ‘structuring’ of trades enabling more complex risk/reward plans, is appreciated.
More Key Details About Binary.com:
Demo Account – Yes ($10,000 trading balance)
Minimum Deposit – £5
Minimum trade – £1
Signals service – No
Bonus details – £20 – Exclusive to BinaryOptions.net.za
Mobile App – Yes, for Android.
To make use of their exclusive bonus, just click on the logo or click on the ‘Apply for account’ button to the right. Initially you can use a demo account, and there-after upgrade to a ‘real money’ account. Once you have done the upgrade, within three days the account will receive a £20 bonus. T’s & C’s do apply, and the bonus is only availably through BinaryOptions.net.za.
How to Trade on the Binary.com Trading Platform
As a minimalistic platform Binary.com has been trimmed down to provide only the key trading information, cutting out distractions. Although it suits some traders, there are traders who prefers a better ‘presented’ offering. However undeniably trading is unobstructed and clear, offering traders a huge amount of flexibility.
Along the top of the platform, the trader can choose the commodity. Over and above the usual indices, stocks, commodities and Forex, Binary.com offers unique ‘randoms’. They are purely for the traders looking for a quick adrenalin rush, and are pure speculation.
After selecting the asset class, a choice of options will show, just above the trading fields. If you choose Forex for example, the options Up/Down, Touch/No Touch and In/Out will appear. Once again in the trading area below the relevant fields will be updated, once the selection has been made. Later in the review we will cover each option type.
In the trading area, the first two fields will allow the traders to choose their asset of preference. A second drop down list will allow the trader to select the actual asset, as the first field is simply to make the list more manageable. (As an example – when you select ‘Major Pairs’ in the first field, the drop down list will then only display the major currencies, making your selection so much easier.)
After this the ‘end time’ or ‘duration’ may be selected, which dictates the option’s expiry time. Traders can select any periods of time, anything from a few seconds right up to a whole year. There’s not many brokers that can provide this level of flexibility.
The current spot price will be displayed, as well as a very small price graph, underneath which the payout field will show. Binary.com will rather request traders to select their payout, than ask them to select the stake. To reach the expected payout, a calculation will be made to show how much actual stake is required. It is quite the opposite of how many other brokers operate, but once traders get used to it, it is clear to understand.
As these fields are updated, the trading buttons on the right will update too.
All the relevant information is displayed in the large trading buttons – the exact expiry, the effective stake, the direction the asset price needs to move in, the potential net profit and the raw payout percentage. At that point, traders just need to select the ‘Purchase’ button to finalise the trade.
If you have worked with other trading platforms, you may find the Binary.com platform unfamiliar because of its unique design. However it retains much of the simplicity that initially made binary options trading popular, and offers a wealth of flexibility.
Forex, commodities, stocks and indices are all offered by Binary.com. They have good asset lists and the currency pairs list is comprehensive. Additionally, the huge selection of expiry times ensures that traders have a large range of options.
They Offer Four Main Kinds of Option:
Up/Down – This is the basic binary option. Will the value of the asset rise or fall? (Where-as Higher/Lower is similar and falls under the same heading, that is more of a ‘ladder’ option – i.e., will the price finish lower or higher that the predetermined price – not the strike price? Because these requires greater movements in the price, the payouts are usually higher, sometimes even as high as 1000%)
Touch/No Touch – In the duration period, will the asset price touch a certain set price level, or will it not? By allowing trades to be ‘nested’ on this flexible platform, it enables more complex trading strategies where the reward and risk can be formed more accurately.
Ends In/Out – Will the asset price be within a preset range of values or outside of that range, when the period expires.
Stays In/Goes Out – Although it may seem similar to Ends In/Out, the question that is asked is whether the price will move outside the range of values at any point during the period of the trade. Only one movement outside the range would be seen as sufficient.
Mobile App – Binary.com for Android
A free high quality mobile platform is provided by Binary.com. Presently it is only compatible with Android 2.3 and higher. Traders are allowed to trade the full range of assets and options as are available on the website.
The trading screens reflects the same look and feel as the website, ensuring that trading remains simple and clear. The portfolio areas will list the open trades as well as a history of closed trades. Another area, called ’The Cashier’ will allow for deposit as well as withdrawal requests.
Excellent payouts are made at Binary.com. They offer “two way” prices, which means that the payout for each option is separate and can consequently be a bit higher. Some Up/Down payouts can reach 100% on occasion, however the general range is from 81% to 94%. As always, the payout depends on the asset selected and the expiry times. With different trading options such as Higher/Lower, higher payouts are available.
Withdrawal and Deposit Options – How to Withdraw from Binary.com
The largest range of withdrawal and deposit options of any broker are provided by Binary.com. Depending on the deposit method used, the minimum deposit amount changes. Starting as low as £5, it is a great way for new traders to start. EFT’s requires a minimum of £25, while credit and debit cards a minimum of just £10, and the online eWallet starts at a minimum deposit of £5.
The same list of sources are available for withdrawals. However the processing times will vary, as an example an EFT can take 5 days or more to process, while an e-cash transaction will be processed in 1 day. Credit and debit card withdrawals can take 3 days or more to process. Traders are very fortunate with this wide selection of methods for deposits and withdrawals, and should find the perfect solution for them. With many binary options brokers, withdrawals are often the greatest source of disputes. With Binary.com it is worthwhile clarifying your desired method to prevent any disputes.
- Clients of Binary.com are also offered the following benefits and features:
- Charting – A range of charting options are offered, to aid technical analysis. While some of the tools are downloadable, others only operate on their website.
- Range of Educational Material – eBooks, online seminars and videos are available for educational purposes.
- Randoms – Binary.com exclusively offers Randoms, which is purely for those seeking entertainment.
- Market Data – A range of live market data is provided via both live feeds and chart packages.