30 Second Summary
Pros / Cons
- Advanced Charting Tool
- Extensive Asset List
- Flexible Trading Conditions
- No offline desktop software – online access only
- Limitations on popular trading area such as cryptocurrency
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 by the Lotteries and Gaming Authority in Malta.
The reason why there are two operational bases is that the broker uses different corporate vehicles to serve clients in the European Union market and U.K market.
In 2020, Binary.com has rebranded into Deriv.com, In an effort to deviate from its association to binary options alone. The roll-out of Deriv.com sees the culmination of over 20 years of experience in analyzing trading trends, harnessing cutting-edge technology, and responding to client preferences.
The rebranding involves the launch of Deriv.com, which delivers multiple trading options centered around three core products: DTrader, for both new and experienced traders; DBot, which allows users — even those with zero coding knowledge — to create trading robots; and Deriv MT5 (DMT5), the trading platform of choice for professional traders. SmartTrader, the popular trading platform with a unique interface on Binary.com, will continue to be available to clients on Deriv.com.
As part of the rebranding, Deriv.com introduces products like Multiplier Options that potentially offer traders higher profits while limiting risks. New features like P2P Cashier, which facilitates seamless financial transactions, will be introduced gradually. These new developments will provide users with a more satisfying trading experience on Deriv.com.
Safety and Regulation
In terms of regulatory oversight, Binary.com is regulated by the Malta Financial Services Authority as a Category 3 Investment Services provider under the license number IS/70156. On the Isle of Man and the UK, Binary.com is regulated by the Gambling Supervision Commission and the UK Gambling Commission respectively. The platform has also been issued a Remote Bookmaker’s license by the Revenue Commissioners in Ireland. They are regulated and licensed by VFSC in Vanuatu, FSC in the British Virgin Islands, and IBFC in Malaysia.
Is Binary.com safe or a scam?
Yes, it is considered to be a safe broker. Binary.com has been in business since 1999. That longevity in the financial marketplace is a sign of solid customer satisfaction.
In terms of its reputation, Binary.com is an award-winning platform. Over the years, the platform has won numerous awards from major reviewers in the financial industry. These awards are all testaments to the first-class service which Binary.com has provided over the years, to its clients. In addition, it is also reassuring for traders to know that they are dealing with a legitimate and regulated broker.
Binary.com accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, India, France, Germany, Norway, Sweden, Italy, Denmark, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.
Traders can not use Binary.com from United States, Malaysia, Hong Kong, Iran, United Arab Emirates.
It is interesting to note that Binary.com is able to offer its traders a wide selection of trading platforms. The trading platforms are categorized into basic and advanced platforms.
Binary.com Basic Platforms
There are 2 types of basic platforms, the Binary.com platform, and the Binary Tick Trade App. Both these platforms are used for trading binaries with the latter designed specifically for mobile trading.
Binary.com Advanced Platforms
As for the advanced trading platforms and trading software, Binary.com has the following:
- The MetaTrader 5 platform, for CFDs and forex trading
- The Binary WebTrader, for advanced binary options trading
- The Binary Next-Gen platform, for advanced trading features
- The Binary Bot platform, for automated binary trading
As mentioned earlier, one unique feature of the 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
Binary.com Mobile App
As mentioned earlier, the Binary Tick Trade app is specifically designed for traders who need to be mobile and not be glued to their desktop trading terminal. The app is available free of charge and can be downloaded from Apple App Store and Google Playstore. With the app, traders can check their trading account status as well as execute trades.
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 ensures 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.
Account Types Offered
With regards to the type of trading platform that is available at Binary.com, the broker only has two types of trading accounts to offer, a standard trading account and a virtual account. The account opening process is simple and hassle-free. If you have already registered for a demo account, the process of converting it from a virtual account to a standard account is even easier with just a click of the mouse.
Virtual or Demo Account
The virtual or demo account is basically a practice account that is preloaded with $10,000 virtual cash. It allows beginner traders to test out the trading platform and trading strategies, without having to risk any real money. It also provides a tool fr advanced traders to backtest trading strategies and theories.
Once you are confident enough to begin live trading, you can open a standard trading account. Unlike most binary options brokers, which require a minimum deposit of $250 to open a live trading account, Binary.com only requires a minimum deposit of just $5, hence making Binary.com more accessible.
The MT5 account delivers CFDs on forex, cryptocurrency, and a range of other financial markets. The MetaTrader 5 platform is a new addition to the offering, going live in the summer of 2019. The software is therefore cutting edge and delivers many of the features modern traders need. Stop loss, limit orders, advanced charting, trading strategy testing, and one-click trading.
The MT5 platforms were recently tweaked, to include new names that better reflect what each account does. So the ‘Standard’ MT5 account became ‘MT5 Financial‘ and the ‘Advanced’ became ‘MT5 Financial STP‘. The MT5 Synthetic Indices is now simply the ‘MT5 Synthetic‘. The meta trader offering at Binary.com is being constantly upgraded and improved. It is a clear area of focus for the group.
Promotions and Contests
Binary.com offers discretionary bonuses to long term clients who match specific criteria.
Assets and Products Offered
At Binary.com, traders can trade in CFDs as well as 4 types of binary options such as Up/Down, Touch/No Touch, End In/Out and Stay In/Out.
As for the list of available underlying assets, there is a choice of 114 different types of assets. They consist of 30 currency pairs, 4-currency indexes, 28 market indices, 40 types of stocks, 5 types of commodities, and 7 types of market volatility indices. The addition of the MT5 platform expands the offering further.
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 the 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%
The payout ratios at binary.com vary from around 60% to 110% depending on the contract types. The exact payout can be seen on the right side of the trading platform. Traders should note that the ratio changes constantly according to the market fluctuation.
The list of assets available is truly wide-ranging. Traders can choose from Forex, Commodities, Stocks, Indices, and the Random Index and Quotidians Market. To get an idea of what is on offer; readers can visit their website to view the full list.
Is Binary.com suitable for Day Trading?
As a platform for day trading, Binary.com is a suitable platform due to the fact that the expiry time for binary options can be as short as 2 minutes. The high returns offered also help to justify the trading risks involved in trading binaries.
Does Binary.com offer trading on the Nasdaq?
Yes. Nasdaq is listed as ‘US Tech 100’ under the indices list. The minimum time frame that can be traded with binary options is 15 minutes. CFD trading is also available via the MT5 platform.
Is hedging allowed on the Binary.com platform?
Yes. Binary.com offers both binary options and CFD trading depending on your region. Both can be used to hedge other trades. Payouts between the investment types vary of course, so ensure you understand the potential payouts of each trade if hedging is your aim.
For the convenience of their clients, Binary.com has translated its website into a dozen different languages. As for customer support, traders can contact the support team through Live chat.
The full details can be found in the ‘Contact Us’ area of the website.
As for the payment methods that are supported by Binary.com, there are plenty of choices. You can use major credit cards such as VISA, Mastercard. Alternatively, you also fund your trading account through eWallets such as Skrill and Neteller. You can also fund your trading account through online exchanges such as Western Union. For traders without convenient access, funds can also be transferred through wire transfer. Cryptocurrencies such as Bitcoin, Bitcoin Cash, Litecoin, and Ethereum are also accepted in lieu of fiat currencies. As for withdrawals, the whole withdrawal process takes between 1 to 5 business days to be completed depending on the method used.
What is the minimum deposit requirement to open a trading account with Binary.com?
The minimum deposit at Binary.com is $5.
How long does it take to withdraw money from Binary.com?
Binary.com aims to execute every withdrawal request within 24 hours. However, in extreme cases, the withdrawal process can last up to 5 working days.
Binary.com can be considered a one-stop shop for its clients that look to trade the markets via CFDs or binary options. They made access to the markets easy, by setting a very low minimum deposit. 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.
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There is a very high degree of risk involved in trading securities.
With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
All investments involve risks and are not suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against the loss, in a down market.
There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing. More details here.
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