Binary.com Review

Binary.com, now called Deriv, is one of the biggest online brokers in the world. They provide CFDs and other derivatives on forex, stocks, indices, cryptocurrencies, commodities, and derived indices to millions of users worldwide. From the start, their goal has been to avoid high commissions and complicated products offered by traditional brokers. They aim to give a top-notch experience to digital traders. Now, they have grown to over 2.5 million customers globally. But you must be wondering how accurate all this is. In this review, we’ll see if it’s a reliable broker to choose or a scam. 

🏢 Headquarters	W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta
📅 Year founded	1999
🗺️ Regulation	VFSC, MFSA, Labuan FSA, FSC BVI
💻 Trading platform:	МТ5, SmartTrader, Tick Trade, Deriv, Binary Bot, WebTrader from Binary
💰 Account currency:	USD, EUR, GBP, AUD, BTC, ETH, LTC, BCH, UST
📊 Accounts:	Demo Account, Standard Account
💵 Withdrawal:	MasterCard, Visa, Maestro, bank transfer, PayPal, e-wallets Skrill, Paysafecard, Neteller, WebMoney, Fasapay, Perfect Money, Jeton, Stickpay, Airtm, cryptocurrency wallets Bitcoin, Ethereum, Litecoin, Tether
💵 Deposit:	Debit card, credit card: Visa, Mastercard, and UnionPay, Bank wire: Bank transfer, internet bank transfer, internet banking, and Western Union
💵 Licence Number:	MFSA (IS/70156), VFSC (14556), FSC BVI (SIBA/L/18/1114), Labuan FSA (MB/18/0024)
🚀 Minimum deposit:	$5
🔧 Instruments:	Binary options, Lookback options, Currency pairs & CFDs, Metals, Futures
☎ Customer Support:	24*7
📚 Education	Providing including webinars and articles covering different aspects of binary options trading.

Binary.com Fees, Spreads, and Commissions

The costs at Binary.com depend on factors like spread and margins, and they can vary based on your country or place of residence. The spread of a currency pair is the difference between the buying and selling price. A pip is the smallest amount an exchange rate can change. The margin is the money you need in your account to open a position. It is calculated based on the current price of the base currency against USD, the size of the position, and the leverage on your trading account. Binary.com charges commissions only on cryptocurrencies, but the exact amount isn’t listed on their website. They also charge dormancy fees for inactive accounts. If you don’t use your account for a year, you’ll be charged 25 USD or the equivalent every six months. Spreads vary depending on the financial instrument you trade.

Pros and Cons

Pros	Cons
You can access various interesting markets, including Deriv’s unique synthetic indices from simulated markets.	The platform has limited regulatory oversight.
The company has a strong global reputation with many years of experience in trading.	You can only use the DTrader platform through a web browser.
Beginners can use a demo account with unlimited virtual funds to practice strategies.	There is a smaller range of instruments compared to other brokers.
You can make instant deposits with a minimum of $5.
There are many risk management tools like trading limits and self-exclusion options.
Customer support is available 24/7 through live chat, phone, email, or WhatsApp.
You can sign up for a CFD or Multiplier account in just a few minutes.

Regulation & Security

Binary.com is a highly respected platform that has won many awards from major financial industry reviewers. These awards show the excellent service Binary.com has provided to its clients over the years. Traders can feel secure knowing they are working with a legitimate and regulated broker. Binary.com is regulated by the Malta Financial Services Authority as a Category 3 Investment Services provider with license number IS/70156. On the Isle of Man and in the UK, the Gambling Supervision Commission and the UK Gambling Commission regulate Binary.com. In Ireland, the platform has a Remote Bookmaker’s license from the Revenue Commissioners. To measure the safety of a broker like Binary.com, it’s important to look at the regulatory authorities overseeing its activities. Binary.com holds multiple licenses to meet global regulations, including those from VFSC (Vanuatu), FSC (British Virgin Islands), and IBFC (Malaysia).

Assets & Instruments

At Binary.com, traders can trade CFDs and four types of binary options: Up/Down, Touch/No Touch, End In/Out, and Stay In/Out. They can choose from 114 different underlying assets, including 30 currency pairs, 4 currency indexes, 28 market indices, 40 types of stocks, 5 types of commodities, and 7 market volatility indices.

Deposit & Withdrawal

To deposit or withdraw money from Binary.com, you have many options. You can use credit cards like VISA or Mastercard. You can also use eWallets like Skrill and Neteller. Another way is through online exchanges like Western Union. If you can’t access these options easily, you can transfer money through wire transfer. You can also use cryptocurrencies like Bitcoin, Bitcoin Cash, Litecoin, and Ethereum instead of regular money. When you withdraw money, it usually takes between 1 to 5 business days to complete, depending on how you’re withdrawing it.

Trading Platforms

It’s interesting to know that Binary.com offers its traders many different trading platforms. We group these platforms into two categories: basic and advanced.

Basic Platforms

There are two types of basic platforms: the Binary.com platform and the Binary Tick Trade App. Both of these platforms let you trade binaries, with the Tick Trade App made especially for mobile trading.

Advanced Platforms

Binary.com also provides advanced trading platforms and software, including:

• MetaTrader 5: for trading CFDs and forex
• Binary WebTrader: for advanced binary options trading
• Binary Next-Gen: for advanced trading features
• Binary Bot: for automated binary trading

Mobile Trading

The Binary Tick Trade app is made for traders who want to trade on the go, not just on their desktops. It’s free to download from the Apple App Store and Google Play Store. With this app, traders can check their account status and make trades anytime, anywhere.

How to Open a Binary.com Account

Here’s how you can open a Binary.com account: Step 1: Go to the Binary.com website. Click on the “log in” button at the top of the page. Step 2: Choose the option to create a Binary.com account. Follow the steps that come up. Step 3: Fill in your email address to create your Binary.com account application. Step 4: Check your email to verify your address and get your Binary.com login details. Then you’re done!

Education

Before you begin trading, make sure you gather all the information and skills you need for success in forex and commodity trading.

Research

Traders need to do a lot of research before they start trading to feel sure about it. They should look into every trade carefully to avoid losing money and try to make as much profit as they can. Binary.com offers different research tools in their trading software, like an economic calendar that shows important events happening each year.

Customer Support

Binary.com made their website available in twelve different languages to help their customers. Traders can reach out to the support team through Live chat. You can find all the details in the ‘Contact Us’ section of the website.

FAQs

Is Binary.com a fake or scam broker?

Binary.com is regulated by financial institutions like the British Virgin Islands Financial Services Commission and The Financial Commission. They can be considered safe.

Does Binary.com accept US Traders?

No. Currently, Binary.com doesn’t accept traders from the US. Check the brokers page for ones that accept traders from your area.

Does binary.com offer trading on the Nasdaq?

Yes. Nasdaq is listed as ‘US Tech 100’ under the indices list. You can trade with binary options for a minimum time frame of 15 minutes. CFD trading is also possible via the MT5 platform.

Is there a mobile app?

Yes. You can trade on mobile using the ‘Tick Trade’ Android app. SmartTrader is also available on mobile.

Does Binary.com have MT4?

Yes. Binary.com offers MetaTrader integration. Traders need to open a specific account to access the MT4 and MT5 platforms.

Is Binary.com suitable for beginners or experienced traders?

Binary.com’s comprehensive trading platform, diverse range of financial instruments, and advanced features make it suitable for both beginners and experienced traders.

Conclusion

Overall, Binary.com is a trustworthy broker that provides a complete trading experience for both new and experienced traders. They follow regulations, prioritize security, and are transparent, making them a great option for anyone looking for a reliable trading partner online.