With a proliferation of binary options brokers on the internet, it is at times difficult for a trader to know which is the best broker for them. In our opinion, the very best starting point is by working with a binary options broker that is regulated by the relevant authorities. In this review, we will take a closer look at binary.com, formerly known as BetOnMartkets.com. With their tradition and experience in online gaming, it seems a natural progression for the former gaming platform to reinvent itself as a binary options trading platform.
Trading Platform & Assets
The first thing that you will notice that is different about Binary.com is their proprietary trading platform. While most binary options brokers rely on white labeled trading platforms, Binary.com has chosen to develop their own platform that is specific to their traders’ needs. With this trading platform, traders can trade the markets across various option contract types such as Rise/Fall, Higher/Lower, Touch/No Touch and In/Out.
Another impressive thing about Binary.com is the range of markets which they offer. While most binary options brokers have stuck to forex, stocks, commodities and indices, Binary.com have extended their offerings to include market sectors and random markets as well.
Deposits & Withdrawals
Minimum Deposit – Binary.com doesn’t require any deposit when you open an account with them. However, you need to have sufficient funds before you can start trading. And since the minimum trade is $5, this means you need to deposit a mere minimum of $5 in order to make a live trade. In the binary options trading industry, this is perhaps the lowest amount required by any broker.
Deposit & Withdrawal Methods – As a company with decades of experience in the online trading industry, Bnary.com is all too familiar with payment methods. This is perhaps why they offer more than a dozen different payment options. Most withdrawal requests take only 24 hours to process, however certain methods may take up to 5 days.
As for the account types available, Binary.com doesn’t differentiate between their traders and as such offers only one standard type of trading account. As mentioned earlier, they do not require a minimum deposit for opening a trading account.
Customer Support & Education
One of the most critical aspects of a broker’s operation after the trading platform is customer support. As an experienced service provider, Binary.com has taken great pains to ensure that their traders are well looked after with regards to their trading needs. To get in touch with the support team, traders can choose to email or call them on the telephone. It is worth noting that countries such as Australia, UK, Indonesia, Russia and Ireland are provided with toll free numbers. In more urgent cases, traders can also contact the support team using live chat.
As for Binary.com’s educational support, the tutorials and Webinars are well structured and detailed. In addition, traders can also view the educational videos provided to cut down their learning curve. Other trading tools provided by Binary.com also include daily market analysis, weekly signals and special reports written by a financial markets expert.
Binary.com platform has many of the features that are found on most binary options trading platforms. An example of this is the “early close” or “sell now” feature. Nevertheless, their proprietary platform also comes with some unique features not normally seen on other trading platforms. For a start, the charts used by Binary.com are much more advanced than those of other brokers. Using real-time charting – the charts feature a candlesticks format and are interactive. The charts also come with numerous technical tools which traders can overlay over the price charts to see the range of possible market movements.
Another unique feature about Binary.com’s platform is the Asian & Digit trade mode. Instead of trading on the pips movements, traders actually make bets on the last digit of the asset’s expiry time.
In retrospect, Binary.com provide traders with a secured and conducive trading environment. The fact that they are regulated by Gaming Commissions in Ireland and UK and as well as by the Malta Financial Services Authority helps to reassure traders that their money is safe with this broker. In addition, these guys have also added variety to an industry that features cookie cutter brokers.