Binary.com review 2023 – Is it a scam or not? – Test of the broker
- Free demo account
- $10 minimum deposit
- Automated trading
- Huge variety
Do you search for trusted information and experience with Binary.com? – Then you are completely right on this website. With more than 10 years of experience in trading, I will check in this review if Binary.com is a scam or a reliable broker. In the following text, I will show you the conditions of the company and how to trade. Is it really worth investing your money there? – Find it out in this review.
Important notice: Binary.com has moved its trading platforms to Deriv!
Quick facts about Binary.com:
|⭐ Rating:||(5 / 5)|
|⚖️ Regulation:||VFSC, FSC, FSA|
|💻 Demo account:||Available, unlimited|
|🖥️ Platform:||Deriv trading platforms|
|💰 Minimum deposit:||$5|
|👥 Account types:||Demo, live|
|📱Trading platforms:||Web-Platform, mobile applications|
|💱 Account currencies:||USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND, NGN, EGP, MXN, JPY|
|🏧 Withdrawal limit:||$10,000 per 1 withdrawal|
|📈 Minimum trade amount:||$1|
|📈 Maximum trade amount:||30 lots on DMT5|
|🎁 Bonus:||No Bonus|
|💵 Affiliate program:||Available|
|⚠️ Yield:||Usually between 80% and 100%; 1000% on higher/lower, and touch/no-touch trades|
|📊 Assets:||100+ binary options & forex assets|
|💳 Payment methods:||Credit cards, e-wallets, online banking, cryptocurrencies|
|🧮 Fees:||No additional fees|
|📞 Support:||24/7 chat and email|
|🌎Languages:||More than 20|
What is Binary.com? – The broker presented:
Binary.com is an international broker for different financial instruments. On the innovative platform, you can trade Binary Options, Forex, CFDs, or Cryptos 24/7 per week. The binary is based in Malta and the British Isles. Since 1999 the company has a proven track record with awards and improvements for their clients. In 2018 there were more than 80.000 active clients, and the number is rising for the following years.
Binary Investments Ltd operates in the EU and is based in Malta, and Binary (IOM) is based on the British Isles and acts internationally. So traders are connected to different parts of the company depending on their country. All in all, Binary.com is one of the experienced brokers for trading financial products and derivates.
Facts about the company:
- Founded in 1999
- International broker with a good track record
- Award-winning company
- Based in Malta and the British Isles
- International offices
- More than 80.000 active clients with 1 billion turnover
The pros and cons of Binary.com:
Due to our comparison with other trading platforms, we now show you the pros and cons of Binary.com. Please keep in mind that no platform is perfect. Each one has its advantages and disadvantages. Here is an overview of Binary.com:
- Multi-regulated company
- A small minimum deposit of 5$
- Free demo account
- No hidden fees
- Return of investments up to 100%+
- Forex and CFD Trading
- Professional trading platforms
- Automated trading
- 24/5 support
- Only 100+ assets
- No 24/7 support
Is Binary.com regulated and safe?
Safety is one of the important factors when it comes to online trading. You can read many complaints on the internet about unregulated brokers who manipulate charts or steal customers’ money. So the first thing you have to do if you are searching for a new online broker does research the regulation of the company.
Binary.com got more than 1 regulation and license, which shows me that the broker is trusted. Have a look at the facts below. In addition, the company is debt-free and uses top-tier European banks for money transactions. For customer payments, there are only regulated payment methods available.
Facts about the regulation:
- Fully regulated and registered in Europe
- Binary (Europe) Limited is regulated by the Malta Financial Service Authority
- Binary (IOM) Limited is regulated by UK Gambling Commission
- Binary (SVG) is registered in St. Vincent and the Grenadines
- Binary (V) Ltd is regulated by the Vanuatu Financial Service Commission
- Binary (FX) Ltd is regulated by the Labuan Financial Service Authority
In conclusion, Binary.com is a secure and regulated broker. There is no problem with money transactions, and the company does the payouts fast. For example, in 2018, more than 150 million USD were withdrawn by clients. With Binary, you can trade safe financial products and Binary Options.
See all facts about the security:
|Regulation:||VFSC, FSC, FSA|
|Regulated payment methods:||Yes, available|
|Negative balance protection:||Yes|
Review of the conditions for traders – Huge range of options
What is Binary offering to its clients? – You can trade with different financial products in more than 200 markets. If you create an account, you are able to invest in Forex, CFDs, Cryptocurrencies, and Metals. The most popular financial instrument on the platform is Binary Options. It is possible to earn a high profit in a small-time horizon.
Traders can start with a minimum deposit of 5$ to open a live account. The demo account is free and unlimited to use. Trades can start with a small investment of 1$. Another advantage of the broker is that it is a user-friendly platform for cryptocurrencies. Traders can choose between a cryptocurrency account or a regular money account.
The yield for Binary Options is between 80% and 100%. This is a very high amount and better than most other brokers. Furthermore, spreads for CFDs and Forex are competitive and start with 1.0 pips. Binary.com offers additional tools for their traders, which can increase your trading profit by using different strategies. I will test that later. In conclusion, Binary knows what a trader needs to invest in the financial markets. The conditions are better than most online brokers.
Facts about the conditions:
- The minimum deposit is only 5$ and the minimum trade amount 1$
- Regular accounts or cryptocurrency accounts
- More than 200 different markets (Forex, CFD, Metals, Crypto)
- Trade Binary Options, Forex, and CFD with one platform
- Payouts up to 100%
- Spreads starting 1.0 pips
Test of the Binary.com trading platforms:
Binary.com offers different trading platforms, which I will present to you in the following section. Overall the platforms are very user-friendly and easy to use. Beginners will find detailed tutorials for the trade execution.
Since Binary.com offers different financial products, you can use special platforms for them. In the SmartTrader, it is possible to trade any options you want with Binary. More advanced traders can use WebTrader. There are more functions for analysis and trading available. In addition, there is a big advantage because traders can trade more than one chart simultaneously. Also, you can invent your own automatic strategy very easily with the BinaryBot.
For Forex and CFD trading, there is the well-known platform Metatrader 5. This platform offers all that you need to do professional trading. Choose indicators, analysis tools, or programs for your investment. Traders can adapt the trading platform to their trading style.
These platforms are available:
- SmartTrader for any Binary Options
- WebTrader for more detailed analysis and multi-charting
- Binary Bot for inventing your own automatic strategy
- Metatrader 5 for Forex and CFD Trading
- Ladders for trading Ladder Options
Overview of the SmartTrader
Binary.com offers in its platform different types of charts. Choose between 7 different chart types. Also, the tick chart is available, which is missing on a lot of other trading platforms. Traders can use free indicators for the analysis. Configure them as you want and adjust them to your chart. The SmartTrader and the other platforms offer you all types of analytical stuff to do professional and successful trading.
Charting and analysis:
- Professional charting and analysis are possible with Binary.com
- Use free indicators and analysis tools
- Configure the charts as you want
- More than 7 chart types and tick charts are available
- Drawing tools
- Comparison tools
- Multi charting
Trading Interface – How to trade Binary Options?
In comparison, Binary offers the best trading interface for its clients. In the picture below, you will see the interface, and in the following section, I will show you how to trade on the platform.
Trade without conflict of interest
With Binary.com, you trade without a conflict of interest. It is like the broker IQ Option which matches the orders intern between traders. You can see in the interface that the yield is always changing. The average yield is between 70% and 100%. The broker has to secure the risk, and this affects the yield of Binary Options.
With Binary.com you trade without conflict of interest. Unlimited profits are possible.
Trading tutorial: The principle of Binary Options
On the one hand, Binary Options are very risky to trade because you can lose your investment. On the other hand, it is a very easy principle that allows you to make a high profit in a short time horizon. For beginners, there are good explanations of the trading principle on the homepage of Binary.com. In the following text, I will show you how to trade financial products correctly.
- Choose a market and analyze the chart
- Choose your investment amount
- Make a forecast of the price movement
- Choose an expiry time
- Invest in falling or rising prices
- Start trading
- Earn a high profit or lose your investment
Trade automatically with the BinaryBot
Binary.com is one of the few Binary Options Brokers that allow automatic trading. On the platform BinaryBot, you can create your own automatic strategy. The platform offers you the options which you need to create a system. From my experience, it is not easy to create a bot for beginners. You have to know about programming.
Programm your own automatic strategy:
- Trade definitions for Binary Options
- Tick Analysis
- Implement indicators and analysis tools
In conclusion, the BinaryBot is a very good chance to earn a high and passive profit from the markets. I mentioned earlier that Binary.com is one of the few brokers that allows automatic trading, and this is a huge advantage for the company.
Professional Forex and CFD Platform Metatrader 5
Metatrader 5 is the most popular platform for Forex and CFD Trading. The platform is available for any device, and you can start trading with Binary.com. You only need one account for the platform on any device.
The platform is like the WebTrader, but you can configure more tools and functions. In addition, this platform is only available for Forex and CFD. It is a different financial product like Binary Options. It is more complicated to trade there, but with some practice, you will understand it. You can invest in different assets and buy or sell them with high leverage.
Facts about the Metatrader 5:
- For Forex and CFD Trading
- Available for any device, and you only need one account
- Unlimited indicators and analytic tools
- Technical Analysis
- Automatic trading possible
Increase your profit with Ladder Options
The last platform I will present to you is the platform for Ladder Options. This is a different type of Binary Option. It is the same execution tactic, but you can earn more or less profit than Binary Options. The difference between these two financial products is that you can choose your entry point at a certain price.
That is why it is called “Ladder Options.” At the end of the trade, the price always has to be over or under your entry point. Ladder Options allow you new strategies because there are different barriers that you can choose.
Facts about Ladder Options:
- The same principle as Binary Options
- Choose between different barriers
- A different profit is possible
- Trade with less or higher risk
Mobile Trading: Binary.com Tick App is available
If you want to trade with your mobile device, it is possible with Binary.com. The platforms are available for mobile. You can install the Metatrader 5 as an app or use the Tick App for trading. The advantage is that you need one account for any device. You can trade with your computer and use the app at the same time.
Nowadays, mobile trading is very important because more and more people use their smartphones daily. With Binary.com, you can check your portfolio and trading positions anytime. React to economic or political news within seconds and trade the markets. In conclusion, the app completes the offer of the broker.
- Apps are available for Android, Apple (IOS), and desktop
- The Metatrader 5 is available as an app
- Check your portfolio any time
- Customizable like the WebTrader
Free and unlimited demo account (virtual account)
The demo account is the best way to practice trading on the platform. It is an account with virtual money which simulates real trading. Beginners can trade freely and without risk to the markets. I recommend using the demo account first before you start with real money.
The demo account is the best way to improve your skills.
Traders can gather knowledge about the platform and trade execution. Furthermore, it is important to practice and earn profit in the demo account. Advanced traders can try new strategies or markets to trade. In conclusion, the demo account is the best way to improve your trading and learn about the platform. Binary.com offers this account type free and unlimited.
Facts about the demo account:
- Filled with 10.000$
- Practice trading without risk
How to create your trading account:
It is very simple to open an account with Binary.com. Just insert your email address and get started. Also, it is possible to use your Google or Facebook account to sign up. For actual money trading, the broker needs more information about your person. Fill out the form before you deposit and withdraw.
Binary.com is a regulated company, and as a result, they have to check your identity. Just upload a picture of your passport to get started. There are no account fees for you, and the account opening is simple and fast.
How to deposit in Binary.com?
For a deposit, you can use more than 10 different payment methods. Sometimes the payment method depends on your country, but you will see that in your account dashboard. The minimum deposit for starting trading is only 5$. There are no fees.
Most payment methods are electronic. That means the money is credited directly to your account balance. Also, you can use cryptocurrencies for the deposit. The account balance is available in cryptocurrencies too. Compared to other brokers, it is a huge advantage.
Facts about the deposit:
- Minimum deposit 5$
- More than 10 different payment methods
- A cryptocurrency account is available
- No fees
Test of the withdrawal options
As I mentioned, there is no conflict of interest with the broker. Withdrawals are working correctly, and you can easily withdraw your profit. The minimum withdrawal amount is like the deposit amount of only 5$. There are no fees or hidden costs. But how long does it take to withdraw from Binary.com?
It usually takes up to a maximum of 3 working days. The broker will accept your withdrawal after 1 working day, but with some methods, the payment processor needs some time. All in all, deposit and withdrawal are working very well with Binary.com.
Active payment methods:
- Bank Transfer (Minimum amount of 500$)
- Internet Bank Transfer (Minimum amount of 25$)
- Credit Cards (Minimum amount 10$)
- Skrill (Minimum amount 5$)
- Neteller (Minimum amount 5$)
- WebMoney (Minimum amount 5$)
- PaysafeCard (Minimum amount 5$)
- Stickpay (Minimum amount 5$)
- Bitcoin (Minimum amount 0.002)
- Ethereum (Minimum amount 0.01)
- Litecoin (Minimum amount 0.1)
- Tether (Minimum amount 1)
Support and service for traders
Binary.com offers real professional support in different languages. From my experience, it is the leader in technology and trading investments. More than 200 employees work for this company. There are offices worldwide that are working 24/5 per week.
If you got questions, you could ask for help through chat, phone, or email. Also, there is a big FAQ and help center for beginners. The support is working professionally and fast. So customers should feel comfortable with it.
Facts about the support:
- Available 24/5
- Chat, phone, and email
- Professionally educated employees
- FAQ and help center
|Supported languages:||More than 20 Offered|
|Email:||Support email available. The email is: [email protected]|
|Phone support:||Yes, available. The phone number is: +44 1666 800042|
Languages and countries
The broker accepts traders from anywhere without the countries USA, Canada, and Hong Kong. All other traders are accepted. The main audience is in Asia, Europe, and Africa. The broker always tries to improve the offer for traders and the support languages are now available in Chinese, English, French, German, Indonesian, Italian, Polish, Portuguese, Russian, Spanish, Thai, and Vietnamese.
The growing countries for traders are:
- United Kingdom
Alternatives to Binary.com:
Binary.com is an excellent investment platform that allows you to trade Binary options. Here, we have tested more than 40 different brokers. Therefore, we can conclude that there are great other brokers to choose from. We have listed 2 popular ones that many binary options traders use.
|1. Binary.com||2. Pocket Option||3. IQ Option|
|Regulation:||VFSC, FSC, FSA||IFMRRC||/|
|Return:||Up to 100%||Up to 93%+||Up to 100%+|
|Advantages:||Small minimum deposit of $5||Offers 30-second trades||Offers CFD and forex trading as well|
|Disadvantages:||24/5 customer support only||No phone support||Not available in every country|
|➔ Sign up with Binary.com||➔ Visit the Pocket Option review||➔ Visit the IQ Option review|
Conclusion of the broker review: Is Binary.com legit? – Yes, for sure
Due to my research and review, I can confirm that Binary.com is not a binary scam broker. It is a fully regulated company founded in 1999, and since this year, it has been one of the most competent brokers for Binary Options. Start trading with the best technology to earn a high yield. Whether you want to invest short-term or long-term, Binary.com is the right broker.
In conclusion, the facts about this company speak for themselves. I highly recommend using this company if you want to trade seriously. Also, I found no complaints about the broker on the internet.
The advantages of Binary:
- Full regulated company
- Working since 1999
- The best technology for trading
- Huge range of markets and options
- High yield up to 100%
- Small minimum deposit of 5$
- No hidden fees
- Professional support
Binary.com is the best address for trading Binary Options. The conditions are at their best and the company has a serious track record.
Frequently asked questions (FAQs) about Binary.com
What is Binary.com used for?
Binary.com is a trading platform that is known for offering binary options trading. Therefore, binary.com is mainly used by those who want to earn money by trading binary options. Registered people can choose from a variety of assets (over 100 instruments) and access helpful tools such as DMetaTrader 5 or DTrader, among others. There is also an education section that provides useful knowledge.
Does Binary.com have an app?
Yes. Binary.com offers access to the “Binary.com Tick app,” which is available for mobile phones. Among other things, it allows users to keep an eye on their portfolio all the time, even when they are on the move. It also displays political and economic news, which is quite helpful for binary options traders.
Is Binary.com legal?
Yes, Binary.com is a legal and regulated trading platform. Binary.com belongs to Deriv and is regulated by the Malta Financial Services Authority. However, you should always check whether the country you reside in allows binary options trading. For example, Binary.com’s services are unavailable in certain countries, including Canada, Hong Kong, and the USA. In addition, those under the age of 18 are generally not allowed to trade. So Binary.com is a safe and legal trading platform, but traders should always check what laws apply in their countries.
How can I withdraw money from Binary.com?
The withdrawal process on binary.com is fairly simple. Traders can withdraw their money with a minimum withdrawal of $5, and it takes a maximum of 3 days for the money to be paid out. To withdraw your funds, click on your account, select “Withdrawal,” and specify your preferred withdrawal method. After confirming, the funds will be transferred to your chosen account.
Can I withdraw from Binary.com without verification?
Yes, Binary.com clients can withdraw outstanding funds from the account subject to KYC verification. However, you should be aware that in most countries, you will need verification before making a deposit. Therefore, the withdrawal process should work without any problems. If you have any questions, you can always contact Binary.com support.
What is the minimum deposit for Binary.com?
The minimum deposit for Binary.com is $5.