Binary.com honest review
Binary.com has been around for quite some time. Founded in 1999, Binary is a general online trading platform for trading currencies, indices, stocks and commodities. This broker is licensed in Malta, UK, Isle of Man, and Japan with over 90 staff worldwide. They have offices in Malta, Japan and Malaysia. Binary claims a customer base of over 1 million. The site can be accessed in English, Indonesian, Japanese, Chinese, Polish, German, French, Spanish, Portuguese, Italian, Russian, and Thai.
The process of opening an account is pretty straightforward. You start by entering an email. The website sends a unique token to the input and completes the registration process. The website accepts users from all over the world. A new user gets a virtual account to work with before trading on the real platform. The virtual account is credited with $10,000 virtual balance. There is a walk-through guide for every new user and tons of resources for a new trader and also tips for the experienced trader.
Deposits and Withdrawals
To begin trading, we have to use a real trading account. Deposits can be made as little as $5 but it depends on the mode of deposit. Binary.com is one of the most liberal acceptors of different modes of money. There are 18 ways to deposit. The available methods for depositing are
• Bank /wire transfer – This includes Western Union and internet bank transfer in addition to the traditional SWIFT transfer.
• Credit/debit card – The cards accepted include Union Pay, Visa and MasterCard
• Ecash/Digital currencies- These include OkPay, FastPay, Perfect Money, Skrill, Neteller, Moneta.ru, Webmoney, Qiwi, PaySafe and Bitcoin
Binary.com is one of the few online brokers who accept deposits and withdrawals in Bitcoin. Many brokers stay away from this digital currency for restrictions placed on it by the US. All deposits are reflected instantly except for bank and wire transfers which show within one working day, which is pretty fast in the case of wire transfers.
Withdrawals are also effected in 1 working day. Binary.com processes all transfers within 1 working day except for wire and bank transfers which vary by bank and country regulations.
Binary.com has an extensive network of payment agents to handle countries where banking and money transfers are a bit of a problem. These include China, Brazil, Bangladesh, Pakistan, India, Nigeria and Myanmar.
Binary.com has one of the most extensive markets in the online trading scene. The major categories include:
Currency trading is done in two different sub-categories:
• Major pairs – The pairs included here are the Euro, US dollar, Australian dollar, Canadian dollar, Swiss Franc and the Japanese Yen
• Minor pairs – In addition to the major currencies the others are the Polish Zloty, the New Zealand Dollar, the Swedish Krona, Mexican Peso and the Norwegian Krone
There is a third sub-category Binary calls SmartFx which involves following the major indices of the USD, GBP, AUD and EUR.
Binary.com enables trading on indices of 26 countries around the world, including the Middle East and Africa. This includes over the counter (OTC) indices in the US, Hong Kong, India, UK, Australia, Germany, Dubai and other major economies.
OTC stocks: This category allows trading in OTC (Over the Counter) stocks from the US, UK, India and Germany
Commodities: The commodities market allows trading in precious metals which are gold, platinum, palladium and silver. The energy sub-category features oil.
Volatility indices: This category allows a trader to take advantage of the volatility of different markets. The volatility indexes are 10,25,50,75 and 100. You can also opt to take positions on Bear market index or the Bull market index.
Trading Dashboard: The trading dashboard is quite simple. The trader has 3 options in the mode of trade: Up/down, Touch/No touch, and In and Out. The trader can choose the time to start a trade. the time factor has 2 choices; duration and end of time. finally, the trader can choose a payout or a stake.
The best thing is that the trending chart of the commodity trends in real time. you can monitor the trend as you place your trades. The movement of prices can be followed as a conventional line graph or a table with a column for change in percentages.
The best aid in this chart is the Indicators function. You can follow volatility indicators, overlap studies, momentum indicators, price transformation, statistical functions, pattern recognition, and Bill Williams’s indicators. There is also a comparisons aid for different currencies and commodities.
Binary.com’s trends charts update in real time for all markets except South Africa. You can place trades for time duration as short as 2 minutes. Binary.com is set on the high-performance MT5 platform which enables high-speed volatility.
The user has a simple interface that has 5 tabs. This simple design enables quick access to what the trader wants to view. The UI is intuitive to the needs of the trader placed sequentially as would be expected of someone placing trades and following them closely.
You start with the trading dashboard, then the portfolio tab which tracks your account balances, then the profit table to show how much you are making or losing, on to the statement, then the cashier tab to deposit or withdraw. There is also a resources tab which has guidelines and tutorials on online trading. Finally, there is a shopping tab.
The shopping store is a unique feature. It has the tools needed for online trading including desktop and smartphone apps. There are books and guides some free and some for sale. There are also Binary.com T-shirts.
Binary.com has one of the well-stocked academies for the aspiring binary trader. There are numerous guides for download and reading online. There are comprehensive guides that walk the novice trader to the professional. The academy is also a blog of the happenings in the online trading scene. There are Binary TV and numerous video downloads.
Binary.com’s presence over the years can be seen to have differentiated this online trading broker. For anyone looking to trade more than the usual Forex markets, this is a good choice.
Binary.com is for sure a recommended broker. Its reputation goes beyond what is needed to trust a Binary Options broker. If you want to open an account with them, simply click here. Don't forget to leave a comment and thank you for reading.
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