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Binary.com Review 2019 – Is Binary.com Scam or Legit?

Binary.com Review 2019 – Is Binary.com Scam or Legit?

Binary.com Review 2019 – Is Binary.com Scam or Legit?

Quick Review

NameBinary.com Review 2019 – Is Binary.com Scam or Legit?
Founded 1999
Legal Entity Binary (IOM) Ltd
Turnover 82%
Minimum deposit $5
Bonusup to 100%
Full AddressIsle of Man, Douglas, 14, Victoria Road
Phone +44 (0) 1666 800042
Regulation No
Site visit site
E-mail support@binary.com
Visit Broker
Binary.com is the pioneer of binary options
The broker is a focused and a respected name in the binary options trading industry.

Founded in 1999 as BetOnMarkets.com, Binary.com has metamorphosed to be one of the popular and pioneering brokers in the binary options trading industry.

The rebranding of the company to Binary.com was done in 2013 to enhance the quality of service it offers to binary options traders. Since then, the company has earned an enviable reputation in the industry and now boasts of more than 1 million registered accounts worldwide.

We did a comprehensive review of the broker to establish whether it is capable of offering healthy and quality conditions for trading.

Here are the things we found out.

Opening an account

Opening a new account at Binary.com is fast and simple. We first opened a virtual account with the broker, which comes with a free deposit of $10,000. We used the free account to try out the broker’s platform and familiarize ourselves with its offerings.

Thereafter, we upgraded to a real account and made some real cash deposit to better get a ‘feel’ of the broker. After submitting the required details, which includes identity verification documents, our account was up and running.

Trading Platform

Trading at Binary.com

We noticed that the broker provides a simple and user-friendly web-based platform to traders. We easily navigated through the trading platform and monitored our portfolio in real time. Some key strengths we noticed with the platform is that it enables traders to execute orders in seconds, tailor the contracts to suit their preferences, and sell back trades at the current prices.

The Binary.com platform has over 100 assets for trading. Traders can choose from a wide variety of forex pairs, indices, stocks, commodities, and volatility indices. The binary options types offered include Up/Down, Touch/No Touch, In/Out, Rise/Fall, and Higher/Lower, with expiry times ranging from 10 seconds to 365 days for some assets.

In terms of payouts, we noticed that the broker offers one of the most lucrative and unique rates in the industry, from $1 to $50,000 based on the success of your trades.

Deposits and Withdrawals

Binary.com provides secure and convenient payment options to clients. Some of the common payment methods supported by the broker include bank wire transfer, credit cards or debit cards, Skrill, Neteller, PerfectMoney, WebMoney, and Qiwi. Payments can be made in U.S. dollars, British Pounds, or Euros.

Binary Payment Methods

Furthermore, the broker holds clients’ funds in segregated accounts maintained by AAA-rated financial institutions.

The processing time for deposits and withdrawals is fast and is usually completed within one working day.

Binary.com requires a minimum deposit of $5 for new accounts. In terms of bonuses, we noticed that the broker runs frequent promotions to provide traders with bonuses. After opening a live account, you will need to contact the broker to know your bonus amount.

Regulation

Binary.com (previously referred to as BetOnMarkets.com) is owned and operated by a company called Binary Ltd. The broker is fully licensed and regulated and has been providing unmatched trading conditions to clients for over a decade.

Binary.com Awards

The broker is under the watchful eye of several regulating bodies, including Gambling Supervision Commission in the Isle of Man, Malta Financial Services Authority (MFSA), and UK Gambling Commission. As much as most of the broker’s licenses are from gambling regulatory bodies, we noticed that it has been continually offering transparent and legitimate trading conditions to binary options brokers.

What’s more, we searched on the internet for negative user feedback and failed to get any significant proof that the broker is failing in its mission. Additionally, Binary.com has a very thorough and straightforward complaints and disputes policy, which it uses to handle any issues raised by clients professionally.

During our Binary.com review, a major drawback we learnt is that the broker lacks sufficient regulation to offer its services to traders in the U.S., Japan, Costa Rica, and Hong Kong.

Customer Service

Binary.com offers a quick and supportive multilingual customer service, which can be reached by phone, email, or live chat 24 hours a day.

The broker’s site has extensive resources and tools, which traders can use to sharpen their skills and become profitable from binary options trading. The site is also available in different languages, so you can choose the language that suits you the most.

Pros and Cons of Binary

Pros

  • Long history of quality service delivery in the industry
  • Site available in different languages
  • Minimum deposit of $5
  • Wide range of assets
  • User-friendly trading platform
  • Professional support department
  • Free demo account
  • Operates under regulated conditions
  • Convenient and secure payment methods

Cons

  • Traders in the U.S., Japan, Costa Rica, and Hong Kong not allowed
  • A bit of gambling attitude towards trading

Conclusion

The fast and easy account opening process, innovative trading platform, secure and convenient payment options, as well as an extensive range of assets and expiry times are exciting features that make the broker stand out among the others.

Furthermore, the transparent and clear dealings of the broker together with the fact that it is regulated affirm that it is not a scam broker and does not allow fraudulent practices.

So, if you are looking for a broker with a long history of providing robust and quality conditions for trading, you can try out Binary.com.

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Milo madacky - 2016-08-31 15:33:06

What bugs me how on earth they are respected. No clarifications, shaggy support, full of excuses and who ever you email to, the same person answers your query. What's wrong with you people. I had a misfortune to deal with them and my conclusion is that either they are playing stupid or taking a p** I will never, ever even consider ever dealing with them under any circumstances: arrogant, ignorant and full of excuses. Do not believe that you will ever get any no deposit bonus because they will find an excuse not to give you one, trust me.

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