Banc De Binary is one of the world's most popular binary options brokers. With a highly informational website and a large demo account for new comers, Banc De Binary has made a name for itself. However, not all popular brands are the best brands to work with. With that said, today we'll take a look at the intricate details of the Banc De Binary trading platform and other factors associated with the broker to determine if the broker is a good one to work with.
First and foremost, the average trader is going to spend most of their time in the trading platform. So, it's important that the broker you choose offers an intuitive platform that is easy to use. With that said, I found Banc De Binary's platform to be very interesting. At first glance, the platform was very simplistic in nature. However, as I dug through, I found that it's important not to mix simplicity with inefficiency. While the trading platform offered by Banc De Binary was very simple to use, I found that it also included all of the tools that expert traders would expect. I also liked that the company offered a demo trading account with a virtual balance of $50,000. This gives beginners the opportunity to learn the ropes without risking capital. Banc De Binary provides 3 account types: bronze ($250 minimum deposit), silver ($2,500 minimum deposit), gold ($5,000 minimum deposit).
Deposits & Withdrawals
- Minimum Deposit – Minimum deposits are one of the biggest hindrance when it comes to beginner traders. Currently, the minimum deposit at Banc De Binary is $250 while the minimum trade amount is $1, moreover, there is no maximum deposit. While it's not the highest minimum I've seen, it's also not the lowest; which could deter beginners from getting started.
- Deposit & Withdrawal Methods – Banc De Binary offers traders the ability to deposit and withdrawal funds using credit cards, Skrill, wire transfers, Money Gram or Western Union. And there is no charge for withdrawals. Furthermore, you may withdraw all your funds at any time to either your credit card or bank account.
It's also important to mention that Withdrawals happen relatively quickly; which is definitely a plus for traders.
Customer Support & Education
When choosing a binary options broker, customer support and education are two of the most important factors that should sway your decision. After all, when you work with a binary options broker, you're not just opening an account; you're creating a financial relationship. For that relationship to be successful, there should be someone on the other end of the line that's ready and willing to answer your questions and teach you the ropes. With that said, I was incredibly impressed by the customer support offered at Banc De Binary. Their support team is available via phone, chat or email; and to my surprise, there was very little wait time. The support staff is very knowledgeable and ready to answer even the tough questions. Service is provided in 8 main languages: English, French, German, Italian, Russian, Spanish, Arabic, Portuguese.
In regards to education, I was also very impressed at what I saw at Banc De Binary. The company offers an education center that would rival most other binary options brokers. Through articles, videos, and more, they have the educational materials that are necessary to turn a beginner trader into a professional!
- Education – While most binary options brokers do offer education, most don't offer education that is as in depth as what is offered at Banc De Binary. The company offers everything from beginner advice to in depth, advanced strategies.
- Large Demo Account – I definitely enjoyed the demo account offered at Banc De Binary. This is also a very important educational tool. However, I should add that your first deposit must be made before you gain access to the $50,000 in virtual money through the demo accoount.
- Large List Of Financial Assets – In the binary options market, a list of 50 assets is considered large. However, at last count, Banc De Binary offered options on more than 200 assets; and that list is consistently growing!
All in all, I was very impressed with the services offered at Banc De Binary. The platform was great and the educational resources are some of the best in the industry. However, I would like to see a lower minimum deposit. Doing so would allow more beginners to enter the market. Also, it would be great if users could gain automatic access to the demo account before making a deposit. After all, if you don't like the concept in demo, you're most likely not going to trade with your deposit. Nonetheless, I was impressed overall!
You can find more information about binary options brokers on our brokers review page.