Binary.com are an established binary options brand and have been evolving in the binary options sector since 1999. The pioneers of this type of investment. The firm have changed brand over the years, and were previously BetOnMarkets.com – rebranding to Binary.com in 2013.
They recently added a Bitcoin funded trading account – initially only for non-EU accounts – but continue to stay ahead of the game in the binary sector.
Their longevity shows they are not a scam and are a well respected, established brand in both Europe and Asia.
Regular award winners in their formative years, the firm now boast a history which has seen them turnover more than $2 billion in binary trades. They also have over 1 million traders using their platform, handling over 1 million transactions per day. Despite competition in the sector Binary.com have maintained their position as one of the leading binary operators, under the tag line " Sharp prices, Smart trading ".
Regulated by the Malta Financial Services Authority, the firm is based in Malta, with offices in Malaysia too. They are popular in the region, particularly Indonesia and Singapore. They are also licensed in the UK.
Low minimum deposits make them an attractive proposition. Traders can assess the binary options platform, whilst taking minimal risk. Advanced traders will also appreciate the flexibility of the trading platform which allows ‘ structuring ‘ of trades to enable more complex risk/reward plans to be created and executed.
Here are some of the key details about the Binary.com brand;
Demo Account – Yes (A virtual account balance of $10k is provided) Minimum Deposit – £5 Minimum trade – £5 auto trading
Trader Robot – Yes Signals service – No Bonus details – No bonus offers currently offered Binary.com App – Yes, for Android and iPhone.
The Binary.com platform has been trimmed down to deliver only what a trader needs. With none of the distractions found on other platforms. There are no gimmicks on the trading platform – just the key trading information.
This might suit some traders, others may prefer a better ‘presented’ offering when they login. But few can argue that trading is clear and unobstructed.
It offers a huge amount of flexibility for the trader. This clarity is why more advanced traders prefer this platform, and it makes using a winning strategy that much simpler.
In addition to the standard platform, the firm also offer a number of other advanced tools. For example, there are also these trading areas:
MetaTrader 5 – Advanced CFD trading. This area combines the trade suite with MetaTrader integration, including both MT4 and MT5. This delivers charting on par with the the market leading CFD brokers. The download is a quick process. There are 3 MT5 Accounts: MT5 Synthetic MT5 Financials MT5 Financials STP.
The choice of underlying asset is made along the top of the platform. As well as the usual Forex, Indices, stocks and commodities, there are also ‘ randoms ‘ unique to Binary.com. These are pure speculation and are solely for traders looking for a quick adrenalin thrill.
Once the asset class in selected, the choice of option will appear just above the trading fields. So Forex for example, will show Up/Down , Touch/No Touch and In/Out options types. Again, the trading area below will update with the relevant fields once an option type has been selected. Each option type is covered in more detail later in the review.
The first two fields in the trading area allow traders to select the specific asset they are interested in. The actual asset is selected from the second drop down list. The first field simply reduces the list to make it more manageable. (For example, selecting ‘Major Pairs’ from the first field, will reduce the list to only the major currencies, making selection much easier).
The ‘ duration ‘ (or ‘ end time ‘) can then be selected. This dictates the expiry time of the option. This allows traders to select lengths of anything between a handful of ticks or seconds, to a whole year if they desire (and anywhere in between). This level of flexibility is unparalleled among other brokers.
Once a contract is opened, it will have a ‘live’ price up until the point of expiry. This gives traders the opportunity to close trades – either to take profit or cut losses.
Spot Price And Strike Price.
There is then a display of the current spot price, and a very small price graph. Beneath these is the payout field. At Binary.com, rather than ask traders to select their stake, they ask them to select the payout . The actual stake required to reach that payout will then be calculated automatically.
It is the reverse of how other brokers operate, but is clear once traders have got used to it. As these fields are updated, the actual trading buttons on the right will update.
The trading buttons are large, and contain all the relevant information – The effective stake, the exact expiry, the direction the asset price needs to move in, the potential net profit and the actual raw payout percentage.
Traders need to select the ‘ Purchase ‘ button to finalise the trade.
Traders moving to Binary.com from other brokers may find the trading platform unfamiliar, as it is a fairly unique design. It does however, offer a wealth of flexibility and retains much of the simplicity that has made binary options so popular.
Binary.com offer options on forex, commodities, stocks and indices. Their asset lists are good. Currency pairs are the most comprehensive list. Combined with the huge flexibility of expiry times, binary.com offer a large range of options for traders.
They offer four main kinds of option:
Up/Down – The basic binary option. Will the asset rise in value, or fall? ( Higher/Lower is a similar choice under the same heading, and is similar to a " ladder " option – in other words, will the price finish higher or lower than the predetermined price – not the strike price. As these require greater price movements, the payouts are generally higher, sometimes as high as 1000%)
Touch/No Touch – Will the asset price touch a certain price level within the duration period, or not? The flexibility within the platform allows trades to be ‘nested’, making more complex trading strategies possible, where risk and reward can be shaped even more accurately.
Ends In/Out – At the point of expiry, will the asset price be within a preset range of values, or outside of that range?
Stays In/Goes Out – Similar to Ends In/Out, but here the question is will the price stay within preset price levels throughout the duration of the trade , or will it move out of the values at any point during the trade – once, at any time, is sufficient.
The binary.com tick trade option also delivers a method to profit ‘per tick’, which, while moving away from the binary model slightly, does provide traders a different form or speculating on an asset.
The asset lists are constantly growing, especially with the introduction of cryptocurrencies. Binary.com deliver a full range of markets however, including forex (via binary and CFD) plus indices, commodities and metals.
They also provide trading on the volatility index (VIX). The volatility index possibly requires it’s own strategy or approach and it will also help to full understand exactly how the volatility indices are calculated.
Binary.com have often led the way in weekend trading – they once operated their own indices for this purpose. Now however, global markets are operating outside of "traditional" western trading hours. Forex markets in particular, operate globally 6 days week, around the clock.
Binary.com also however, take advantage of markets open at the weekend.