Is Binary.com a Fraud or Legitimate binary broker?
DO you want to know more about the online broker Binary.com? And determine if the provider really fits your needs? And what else should you need to know about this broker? In this review, you will find all the answers!
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Binary.com 2018 Review and Test: what information is really important?
Binary.com has been active in the market since 1999, so you can look back on a long and successful history. It also passes on this experience to its customers.
The provider not only provides binary options, but also other financial products. But that’s not all, customers can look forward to a free demo account at Binary.com and a good and comprehensive customer service. The selection of different trading options is overall quite good. However, we want to go into all of these points in the following sections and in much more detail.
For a start, here are some key points about Binary.com in the overview:
Account opening and operational from $5 minimum deposit
Demo account available for free
Maximum return of up to 350%
Choice between a total of four types of trade
Minimum trading amount [money per trade] only $1
Good customer service
High trustworthiness and legitimacy
Binary.com Review and Test: How legitimate this binary options broker is?
Before we look at the trade offer and the other conditions, we first want to deal with the question of whether or not this broker is legit. With good reason, the best offer with the lowest fees is of little use to you if fraudulent intentions have to be suspected behind it!
Therefore, take a close look! Fortunately, based on some reliable evidence, it is easy to see how serious and trustworthy a supplier is. So how is Binary.com ordered in this regard?
This provider belongs to the renowned Regent Group, which operates internationally.
Binary.com itself can look back on more than 15 years of successful corporate history.
The company is based in Malta. As a result, it is fully regulated by European financial regulators, ensuring that all applicable EU directives are actually complied with. This is done in the present case by the Maltese Lotteries and Gambling Authority.
Also on the basis of other points, one can be sure that we are dealing here with a reputable provider. For example, the customer can benefit from a deposit guarantee, which amounts to up to $20,000 per customer. In addition, there is a separate storage of client funds from those of the company. In the event of bankruptcy, there is no reason to fear that the capital invested will not be paid out to the creditors.
Furthermore, Binary.com strives for the greatest possible transparency. This can be seen, for example, that all terms and conditions are clear in the terms and conditions section. Hidden cost and other traps are guaranteed to be not present here – this also contributes to a comprehensive security for the trader!
And last but not least, the broker also scores good points in terms of data protection. All customer information is treated as confidential and will never be disclosed to unauthorized third parties. In addition, there is SSL encryption, which makes the transactions even more secure.
Our conclusion: In our detailed review we found no evidence that Binary.com is a dubious provider. Active in the market since 199, this broker enjoys a good reputation. Fully regulated by the Maltese Financial Supervision, this ensures that all important EU directives are complied with. In addition, as a customer, you can benefit from a deposit guarantee as well as a high level of transparency and good data protection.
Binary.com Review and Test: And what about trading assets?
After answering positively about the trustworthiness of Binary.com, we now look at the trade assets. Of course, the motto here is that the more, the better! This way, trading will not be boring in the long run and professionals will be happy about some exciting orders.
Unfortunately, Binary.com did not cannot really convince us in this regard. Because there are only about 30 different assets available, which one can trade. These are from the following categories:
All major products are included, but with the top providers in this area, Binary.com cannot compete by far. For comparison, other providers often offer more than 180 different underlyings! In this respect, there is still room for improvement. Although this selection is for beginners with little experience, but advanced traders would certainly want a little more assets to trade.
And what about the order types? There are, as already briefly mentioned above, a total of four different variants. For example, the simple call and put trading, in which one sets trades on rising or falling prices. This is a feature that is particularly suitable for beginners, as not much knowledge is required to trade like this.
This is supplemented by the one or no touch trading.
It is speculated that the price reaches a certain limit once or never.
The barrier trade can also enjoy a lively demand at Binary.com.
The same applies to the range trade.
But beware, a little more knowledge is needed for these variants. In the beginning, as a beginner with little experience, it is therefore better to start small – and then gradually increase. And another hint: not every strategy is perfect for every trader or every moment! In the beginning, therefore, do theoretically work on a selected method and then put the acquired background knowledge into practice.
We also advise you to trade month by month only on a specific budget that you can well do without. It is best to set a limit here that should not be exceeding! Only very few traders who do this full-time can really make good profits over the long term. For most, it is more of a nice additional income and accordingly you should also use a specific budget!
Our conclusion: Unfortunately, Binary.com could not really convince us in our trading assets test. Because the selection of different underlyings is relatively small, about 30, other providers score much more here. With the order types, one can select nevertheless four different types of trade. In addition to the classical Call and Put trades, we here also have variants barrier, range, and touch/no-touch trade types.
Binary.com: How user friendly is the trading platform? And is there an app for mobile trading?
Anyone familiar with online trading knows how important a reliable and stable platform is. With good reason, it is very important to be able to react quickly and to find find the functions you want within a very short time!
Binary.com is aware of this and provides its customers with a platform that can meet the above requirements. Although the provided software does not shine through special highlights, on the whole it proves to be functional and quite powerful in our review.
The platform is web-based. Thus, no extra download is needed.
The platform is offered in only three languages, with English being the most used. Therefore, you should already have English skills to trade here.
However, the platform itself can be convincing with its clear design and modern design. In this way, you can quickly and easily find your way as a newbie and quickly click on the desired functions. Furthermore, useful charts can be used for a thorough analysis. And all open and closed positions can be viewed in the overview.
At this point, the only question is whether an app for mobile trading is available? With good reason, you’re far more flexible when you can access your account quickly from your smartphone or tablet. Unfortunately, this is not included in Binary.com’s offers. According to the company, this is still in the development phase – therefore, customers have to wait…
Our conclusion: in our test, we were convinced by the quite solid and powerful platform of Binary.com. This has several valuable features, which makes online trading easier. In addition, it has a clear design, so that even beginners will find their way quickly. However, the platform is only available in three languages. A mobile trading app is still looking for in vain – a pity, but this means far less flexibility for the trader. Other providers prove to be much more customer friendly in this regard.
Binary.com Review and Test: How fast is it with the account opening? And is there a bonus?
Of course, as a new customer, you wish that opening an account is as quick and uncomplicated as possible. As already mentioned, there must already be sufficient English skills – if that is the case, the registration is also quick and without problems on the stage.
For this only a short registration form has to be filled out.
If this is sent, you will receive a confirmation email.
After that you can make your first deposit in principle. We also advise you to verify yourself in the process. The following documents are required for this:
Copy of the ID card (identity card or passport)
Copy of a consumer invoice showing the current address
Possibly a copy of the credit card, if this is to be used for the deposit and withdrawal
Although this verification step may look a bit awkward, it is ultimately only for personal safety. Again, this is an indication that Binary.com is a reputable provider!
And what about the bonus? In the face of increasingly fierce competition, hardly any online brokers are relinquishing more to provide one for new customers. Often this is supplemented by changing offers and promotions – at Binary.com the latter is also like that. Therefore, it is worthwhile to keep up to date so as not to miss any of the promotions.
But there is a bonus for new customers, provided of course they meet the minimum deposit. The terms and conditions in this regard are clearly in the terms read – such as that that 5 times the bonus amount must be converted into trades.
The bonus itself is 20%. Compared to other brokers, this is fine, if not outstanding. (For example, some other competitors offer up to 100%, albeit with an upper limit.) It is also worth considering whether you want to put a little money on the table at the beginning, so that it really pays off.
Our conclusion: Opening an account at Binary.com is pleasingly fast and uncomplicated. All you have to do is fill in an application form, then you can get started by depositing the minimum amount of money and get started with online trading. We also advise you to verify yourself at the beginning. When you deposit funds, you can also enjoy a bonus that is 20%. This is a value that is fine – even if other brokers have much more to offer. It is also worthwhile to take part in the regular promotions, which can be found again and again at Binary.com.
Binary.com Review and Test: Is there a demo account?
A demo account is great for gaining experience in online trading – all without risk and under realistic market conditions! Not only for beginners, this opportunity is worth gold even for advanced traders; they like to use a demo account to test new and previously untried strategies. And also get acquainted with the platform and its functions.
Unfortunately, few binary options brokers offer such an account so far – and on favorable terms. So what about Binary.com?
Here the broker from Malta scores in full.
A Virtual Account is offered, which is available for free.
And equipped with a virtual capital of $10,000.
In order to use the demo account, the following steps must be taken:
Give your e-mail address and specify a password. There’s no need to take more steps – even opening a demo account is not tied to prior setup of a regular account, as is the case with so many other providers. This account is also equipped with all the important features, which makes trading even more realistic.
Our conclusion: In the test of providing a demo account, Binary.com can fully convince. So the trader can look forward to an account that is available to you for free and can also be used without the prior opening of a regular account. In order to use the demo account, only the e-mail address and a password have to be specified. Then you can go straight into virtual trading – and with a starting capital of $10,000.
Binary.com Review and Test: And what about customer service?
As mentioned above, the platform is only available in three languages. But the support proves to be very friendly and competent. They can be contacted by phone, e-mail, and live chat and will endeavor to resolve all questions and concerns promptly.
And what about providing education?
They offer interesting information for both beginners and advanced traders, as well as the opportunity to gain valuable basic knowledge.
The following offers are available in this area:
A platform tour to familiarize yourself with the site and its functions
In this way, you can thoroughly inform yourself about the different strategies and of course the trading itself and educate yourself. If you want, you can also use the provided charting apps to polish up the platform on your home PC.
Our conclusion: If you turn to English-speaking support, Binary.com will serve you in a friendly and competent manner. This is available via telephone, e-mail, and live chat. In addition, the provider from Malta scores particularly high with its comprehensive education offer, which is very lush and gives plenty of opportunity to gain valuable knowledge. However, this area is only available in English!
What do the general Binary.com reviews say?
Let’s take a closer look at what Binary.com reviews/experiences are all about. Here, we look at the forums, where you can find various reports from previous or current users who were or are still registered with this broker.
Here is a preliminary remark: Basically you should read the reports in various forums with a healthy skepticism. Unfortunately, you will find here some frustrated Traders, who did not have the desired success with online trading and now, they would like to blame the broker!
Therefore, you should always be a little careful with such reviews. This also applies to all those reports that are downright hymnic and absolutely positive – and that, even though the reviews in independent portals indicate otherwise. It is suspected that these are paid posts commissioned by a (more or less) dubious and/or unpopular broker.
At binary.com, however, one thing is clear: the reviews are mostly positive. Here is a review of a trader who is registered with this broker and has been active there for some time:
“I chose the broker for a variety of reasons. On one hand, I like the good offer so that I can decide between very different underlying assets. Of course that is very pleasant. Finally, I have the assurance that I will not be bored in the long run.
Then there was a little problem with the website. I immediately turned to the support, who also took care of it quickly and could fix it. That surprised me positively, I knew that quite differently. The staff contacted me quickly, asked what exactly is going on and after a few hours, the problem was resolved. I really do not take that for granted.
Well, I also found the educational material useful. At the beginning, I really did not know well about online trading and therefore I was looking for ways to find out more. Especially about strategies. That was the case with Binary.com, I thought that was very good. For other brokers, the education sector was not so well equipped.
And everything else was actually done quickly and uncomplicatedly, so I really cannot say anything bad about Binary.com. “
Here, we would like to mention another review:
“At the time, I was thinking that I would really like to start trading online. With whom or which broker, I did not really know that. A friend then gave me the tip to try Binary.com. So I signed up and the whole thing worked out well and quickly.
Of course, at first I did not have the knowledge of strategies and online trading at all. Thanks to the educational material, I was able to change that quickly – I got to know quite a bit, which I was able to put into practice well. That was very good.
I also liked that I was so well looked after. When I had a question or a problem, I turned to the staff and they took care of everything. However, when I sent an email, it took a bit longer, but good. Overall, I am already satisfied with the broker. I’ve learned a great deal about online trading and am now quite good at it – so I can only recommend Binary.com! “
Our conclusion: When looking around internet, you will find mostly positive reviews about Binary.com. Of course, every now and then, a negative post appears – but this is usually the contribution of a frustrated trader who wants to blame the failure on the broker. Therefore, one should always read such reviews with a dose of healthy skepticism.
Binary.com Review and Test: How fast are deposits and withdrawals?
Of course, for the greatest possible customer satisfaction, it also depends on how fast or slow a broker is with the incoming and outgoing payments. At Binary.com, this process is going smoothly and quickly – here, too, the provider has made a noticeable effort!
Traders have the following options to send or receive money/funds:
Various online payment services (such as Neteller, Skrill, Ukash, WebMoney, …)
A good selection, which Binary.com certainly does not have to hide behind! Note, however, that the duration for these transactions will be different. Experience has shown that the money arrives at a deposit or withdrawal via credit card very quickly to the desired destination and also the online payment services score good with a fairly short transaction period. A transaction via bank transfer or even by check, however, takes about three to five working days.
Fees for these transactions are not charged by Binary.com. How this looks with the external financial service providers, of course, is another matter. We therefore advise you to make a quick decision about this, in order not to experience many a nasty surprise afterwards.
Our conclusion. The broker from Malta also proves to be very customer-friendly when it comes to deposits and withdrawals. There are different ways for the customer for the deposits and withdrawals, ranging from credit card to bank transfer to various online payment services. More detailed information can be found on the homepage of the company. Depending on the method, however, it takes a different amount of time for the transfer to complete. Fee for this are not charged by Binary.com.
Binary.com Review and Test: How are the general opinions about the broker online?
Another question that we ask ourselves in our test: What do the general opinions about Binary.com say – by both experts and traders? On the whole, these are satisfactory – although there are, as in our research, few posts of criticism.
This mainly concerns the fact that the website is only available in English. Even the not very large trade offer is objected to by some. But there are also commendable voices mentioning customer service and competent support. The demo account is also gladly used and stated positively in the reports.
Every now and then, a review online appears, in which fraud is connected with Binary.com. Here, we need to look very carefully. Mostly this is a post of a trader who could not achieve the desired success in the area of binary options. And he is now posting scam and rip-off reviews about the broker online. However, there are no indications for this, as we have already explained in detail before! Rather, this is a phenomenon that affects all other brokers – unfortunately.
How to find the perfect binary options broker?
The perfect broker for all traders does not exist. The taste and preferences are just too different! Therefore, we cannot make a general recommendation for a binary options broker.
Rather, we advise you to make a comprehensive comparison before registering and registering. It’s best to think about what you’re looking for at a vendor. For example, one person gives great importance to good customer service, while the other wants the widest possible range of trading opportunities. You are also welcome to create a list to help you make faster decisions.
Also take time for the binary options comparison. Do not put yourself under pressure and include only the reports of independent sources! This increases the chances of finding the perfect broker for yourself. And so to achieve effective success in trading after a relatively short time.
Our conclusion: To find the perfect broker for yourself, you should first think about where your personal preferences and priorities lie. The perfect provider for all traders does not exist – the tastes are just too different for that. A comprehensive comparison helps to find the right broker for your needs and expectations. But be sure to take enough time – after all, it is your money that is involved!
Overall, Binary.com can make a solid and satisfying impression on us. Therefore, we can draw a positive conclusion – although this is not outstanding and so many criticisms included.
For example, it is a pity that so far there is no mobile app for trading on the move. In this way, it is not possible to quickly access your account from your smartphone and check the status.
It is also objectionable that the website and the customer service are only available in English. Therefore, there is a certain language barrier that is certainly causing many to look around at the competition. Binary.com can also improve a lot in this respect!
Of course, there are also positive aspects. Such as the high trustworthiness of the broker and the great features from which you can also benefit as a customer. In addition, the trading conditions for the customer are very favorable thanks to the low minimum deposit of only $5 and the minimum trading sum of just $1. In this way, even traders with a not very high income can trade in binary options – without the prospect of having to plunge into massive expenses.
Thanks to the free demo account, you can also practice online trading with no obligation and risk-free, which also makes the whole thing very pleasant. However, the trade offer could be a bit more varied and comprehensive – other brokers, in this regard offer much more! So there is a risk that some experienced traders could get a little bored over time, especially since the “usual suspects” can be found.
Overall, however, a thoroughly recommended provider that can convince especially beginners. Therefore, we can recommend Binary.com in good conscience. Even if, as I said, one or two points of criticism. But we have the hope that these will be rectified soon.
During the testing phase, many things were positive that convinced us. For example, a demo account is available, which holds $10,000 of fake money. Likewise, there are various types of trade, which make the training experience quite variable.
The broker itself is part of the Regent Group. These are in turn known for being a legit company. Likewise, it exists since the year 1999. One can look back on a correspondingly large amount of experience. The Regent Group is located in Malta. And in Malta, there is a commission that regulates the brokers there. This supervisory authority is, so to speak, a mandatory program. And Binary.com has a corresponding license proving that it is a reputable supplier.
In summary: since a supervisory authority is on the way and the brokers are scrutinized, it is impossible that fraud will be carried out in any way. So you can safely assume that everything is done seriously.
A total of four different variants are available for a trader, classic put and call options, range trade, barrier trade, and the one and no touch trade. There are more than 99 underlying assets available. The most important assets are served. These include foreign exchange, commodities, indices, and stocks. Certainly, their offer is not necessarily comprehensive, but it is still sufficient.
Our opinion: this diversity is not found everywhere. Therefore, it is worth taking a look at this broker. After all, a versatile trade is an important prerequisite if you want to be flexible in trading. One likes stocks and the other knows better about commodities.
The opening of the account is relatively simple and clear. After registration, the first deposit can be made. Copy of your identity card is required. Likewise, a credit card or possibly an invoice is required to verify address.
The customer receives a deposit bonus. This is only distributed if the minimum deposit is met. Similarly, five times the own bonus for a distribution must be implemented sustainably.
Our opinion: a bonus is given. So it’s worth it if you’re a bonus hunter. It stands out positively that additionally promotion codes are available, which can be used excellently.
The only negative aspect is the mobile unavailability. So no mobile app is available with which can be traded on the phone.
Our opinion: this is of course a disadvantage that should not be underestimated. The fact that one cannot use mobile, can result in disadvantages for professionals. Because many like to check their trades on the mobile phone in the bus or in the bar, while traveling and so on.
All customers get a demo account. Especially in the Forex area or CFD brokers, demo accounts are widely used. The demo account can be used quickly by logging in. Of course completely free. There is a money supply of $ 10,000 available. Of course, this is not real money. With this money first options can be traded. So you can gain experience or develop your own strategies if necessary.
Our opinion: this aspect stands out clearly. A demo account is a great way to train. And at this point offers here a really good and successful opportunity. Everyone should take advantage of this opportunity, who would like to try and test it first. It can be explored with a decent amount of the whole system, before it comes to invest real money.
Tt is striking that a variety of high-quality video courses are offered. As well as instructions but also seminars and help positions. Anyone who wants to engage more intensively with the matter, gets here a comprehensive amount of material. Of course, most of it is available in English. Still, it’s worth it because you can constantly build and expand your knowledge, which is important when you want to get better.
Our opinion: a real treat for anyone who wants to continue their education. This aspect alone demonstrates a customer-friendly approach. The broker does not want to rip off, but it wants to help the customer. Of course, you have to know English. But one is also rewarded with very good information.
The transaction methods are extremely diverse. In addition to the credit card, bank transfer, online payment services, and simple checks, there are plenty of opportunities here, so that everyone can act without a problem. It is only important that the transaction duration is considered. Because of these, there can be delays in payments or deposits. Regardless, the offer is so comprehensive that anyone who wants to trade will get along easily.
Our opinion: It is important that a deposit and withdrawal works uncomplicated. And here everything is really done right. Anyone who wants to join this broker will always get their money. Both, the deposit and the payout/withdrawal can be extremely flexible and uncomplicated. So it is certain that every consumer can get started quickly.
Due to the fact that Binary.com is closely monitored, the likelihood of fraud is dwindling. If a broker cheats, then this will be publicized relatively quickly. A broker could never exist for 15 years. The supervisory authority would have reacted relatively quickly and removed it from the market. If one considers that also a minimum trading sum of just one dollar is possible, then it becomes apparent that this broker does not want to rip off the customer.
Our opinion: being able to stay in business of 15 years testifies to legitimacy. The minimum deposit is extremely low, which underpins the whole aspect once again. Likewise, a supervisory authority is on the way and the broker already has a license. All this testifies to 100% seriousness.
Especially positive is that a demo account is provided, which has $10,000 of play money. Likewise, that different types of trades are possible. Furthermore, very good maximum returns are given. Complemented by a weekly newsletter and educational material, you can do well with Binary.com.
Our opinion: Every broker has his strengths and weaknesses. The demo account with $10,000 play money, speaks for itself in any case. Supplemented by important information from the newsletter, this can be regarded as an extremely important plus, which always benefits the broker.
The minimum deposit on the trading account is just five dollars. That is quite low. Many brokers need $100 and upwards. The trades or maturities can be set to 60 seconds or 365 days. This leaves a lot of flexibility for everyone. The returns can be increased up to 99%. This applies only to the call and put trading. Likewise, up to 1000% is possible when trading in the high-yield mode.
Our opinion: only five dollars and you can start trading. This is not only worthwhile, but a great way to start. Complemented by the fact that you can set a trade up to 365 days or 60 seconds, there is a lot of flexibility. This aspect also stands out positively and is above all customer-friendly. Combined with the possible returns, you can get good returns even on low deposits.
The telephone hotline works perfectly and the e-mail support is friendly and reacts relatively quickly. Highly recommended is the use of live chat. Here you can immediately get in touch and get all the information delivered immediately. It is only important that you are very good in the English language. Otherwise, communication becomes difficult.
Our opinion: the support service is extremely important with every broker. There are many opportunities to get in contact with this broker. And especially the live chat is outstanding. One should only be able to speak English language. But if these conditions are fulfilled, then you can count on answers in a matter of seconds.
The bonus is unique and with a minimum deposit of five dollars, also relatively low. What are worth more are so-called promotion codes. These allow traders to get bonus opportunities again and again. But the whole thing is tied to sales requirements.
Our opinion: it makes sense to work with the bonus. But it should be remembered that this applies only to new customers. In addition, there are promotion codes that can be redeemed. So the whole thing makes sense. Only it should be noted that the whole thing is always linked to certain trade requirements. The bonus is a positive plus point, as there are additional bonus options via the promotion codes.
How often is the bonus given?
There is no permanent bonus on Binary.com. The turnover conditions are linked to a frequency of 10-40 times. This means, for example, that a bonus must be converted 25 times before it is possible to receive a payout. Therefore, it is questionable whether a bonus makes sense at all. Regardless, there is only a one-time bonus here.
Our conclusion about Binary.com
This provider is well worth it. The minimum deposit is small, which allows a good flexibility. The bonus must be implemented 25 times, which is quite feasible. Very interesting is also the demo account, which stands out positively here. Here you can trade with virtual money in the amount of up to $10,000. At the same time, Binary.com is supported by a 24-hour service. This should be especially pleasing customers who are relatively new and still have many questions. Supplemented by a large variety of trade and a high degree of seriousness, one can assume a very reputable supplier here. It is possible that through seminars, webinars, and videos get imparted an incredible amount of content that is necessary for action. Just keep in mind that it is offered in English. And that in turn is not beneficial for everyone. However, if you have a good knowledge of English (sporadically enough,) if you are looking for a solid and verified broker and would like to work with a demo account, then Binary.com will provide you with everything you need to succeed.