Binary.com review – Should you sign up? – Test of the broker

Rating:Assets:Minimum deposit:Return:
5 out of 5 stars (5 / 5)CFDs, multipliers, digital options$ 5Up to 92%+

Traders want nothing but a safe and genuine online trading platform. However, the emergence of hundreds of online trading platforms and binary brokers makes choosing one challenging for any trader. 

User satisfaction is one thing a trader looks for while choosing a broker. The beginners want a trading platform that they can rely on and on which they can trade safely. 

Binary.com is a leading online trading platform, but is it worth a trader’s trust? This Binary.com review is the way to help a trader find out. 

Binary.com official website

(Risk warning: your capital can be at risk)

ParticularsAvailability
RegulationYes
Minimum deposit$5
Minimum withdrawal$10
Minimum trade$1
Fees and commissionsNil
Demo accountYes
Social tradingNo
Payment methodsBank transfer, credit card, debit card, electronic wallet, cryptocurrency
Account typesDemo account, standard account. MT5
Trading signalsNo

What is Binary.com?

Binary.com is a renowned online trading platform that has millions of users. It is an intuitive online trading platform allowing beginners and advanced traders to participate in various underlying markets. 

As a leading broker, Binary.com offers a chance for traders to trade at their convenience. This online trading platform came into being in 1999. It is one of the most reputed brokers in the industry that has been operating for years. 

Binary.com awards

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Regulation of Binary.com

It should be any trader’s priority to find whether a broker is regulated or not. If any local or international regulatory body’s supervision is missing on a broker, it could cause various trust issues. 

For instance, you wouldn’t want to trade with a broker whose operations are not overseen by anybody. It is because the chances of fraud and the broker duping its clients are very high. The worst part is that it is also impossible to track such brokers and bring back the lost amount of the investors. 

VFSC regulation of binary.com

Thankfully, Binary.com give no such trouble to the traders. There are not one but multiple regulatory bodies that oversee the functioning of Binary.com. These include

If you have doubts about Binary.com’s legitimacy, you can give up those doubts. This well-regulated broker has so much to offer to its clients. Let us review the work of Binary.com and the advantages and disadvantages of trading on this online platform. 

(Risk warning: your capital can be at risk)

Trading with Binary.com – How does it work?

Sometimes, it can be a hectic job for any trader to sign up for a live trading account. Most brokers’ signup process is nothing less than a hassle for the trader. 

Interestingly, a trader will have a smooth experience opening a live trading account with Binary.com.

Sign up an account on Binary.com

The Binary.com live account signup process involves only a few steps:

  • Visit the Binary.com website and find the signup option to start trading in financial markets. 
  • Enter the details that Binary.com needs to get your trading account ready. These details usually include your name, email address, identity proof, and other relevant information that Binary.com may need to authenticate or verify your identity. 
  • Finally, you can click on the signup option to begin trading with Binay.com. 
Good to know!
Binary.com has different account types for different levels of traders. For instance, a trader with no trading knowledge or very little one can sign up for a Binary.com demo account. The traders who are professionals or possess advanced knowledge of trading can opt for a standard account or MT5 account. 

(Risk warning: your capital can be at risk)

Binary.com account types:

As mentioned, you get to explore three different account types on Binary.com. These are:

A trader can choose an account type based on his expertise. 

Demo account

Some facts about a Binary.com demo trading account are as follows:

  • A Binary.com demo trading account is perfect for traders who have just stepped into the trading world. 
  • A trader need not add or fund the demo account with money. When one signs up for a demo trading account, he gets virtual funds in his account. In the case of Binary.com, these virtual funds amount to $10,000. 
  • A person can use $10,000 just like he would use his real money on his live trading account. 
  • A demo account looks like a standard trading account without real money. 
  • Ideally, a novice trader can learn to trade on a Binary.com demo account before he places his trade on his standard account. 
  • The features of a Binary.com demo account are very similar to the standard trading account. Thus, a trader can also know what it will be like to trade on Binary.com standard account. 
  • Any trader can make risk-free traders from a demo account as there is no involvement of money. 
  • Since all features are present, a trader can brush up on his risk and fund management skills. Even if he loses money on a demo account, it will not be his real loss. 
Good to know!
Interestingly, not only beginners but even advanced and professional experts trading on Binary.com use its demo account. Practicing often with all the top-notch features will allow you to bring proficiency into your trading practices.

(Risk warning: your capital can be at risk)

Standard account

A standard account is the one that allows you to place some real trade. If a trader wishes to trade with Binary.com and earn real profits, he could sign up for a standard account. 

  • A standard account helps you place trades for stocks, commodities, etc.
  • You could earn real profits with Binary.com standard account if you trade strategically.
  • A trader needs only to fund his account and place the trade to earn profits. 
  • Once there is sufficient balance in a trader’s Binary.com standard account, he can withdraw it. 

MT5 Account

MT5 is an innovative online trading platform useful for traders wishing to step into the world of different financial markets. It allows you to trade forex, cryptocurrency, CFDs, etc.

Binary.com’s regular or standard trading account might not have a lot of features. However, the Binary.com MT5 trading account allows users to access features such as limit orders. It has features like stop loss, advanced charting, and one-click trading.

Good to know!
Once you have chosen an account type, your trading experience with Binary.com will be seamless. It is a leading online trading platform for a reason. The world-class features and the trading ease it offers users distinguish it from other online brokers in the market.

Another discussion area in our Binary.com review would be its minimum deposit amount. You must fund your trading account with a minimum deposit amount to begin trading. 

(Risk warning: your capital can be at risk)

The Binary.com minimum deposit:

A trader’s main concern while choosing an online trading platform is the minimum deposit amount. No trader would want to pick an online trading platform having a high minimum deposit requirement. 

  • A minimum deposit amount is that with which a trader must fund his account. 
  • It is the lowest amount that a trader must add to his online trading account to begin trading. 
  • A low minimum deposit is an attractive feature of any online trading account. 
Good to know!
The Binary.com minimum deposit amount is only $5. It is one of the lowest minimum deposit requirements in the industry. 

Most brokers have a very high stipulation for a minimum deposit amount. The drawback is that it locks in a huge part of the trader’s funds in his trading account. Novice traders or beginners might not want to be caught up in such a situation. 

(Risk warning: your capital can be at risk)

Binary.com minimum withdrawal amount

Like the minimum deposit amount, Binary.com also has a minimum withdrawal amount. The minimum withdrawal amount is also great when picking an online trading platform. 

  • The minimum deposit amount is the least amount for which you can submit a withdrawal request. 
  • It might be trouble when you withdraw less than the minimum withdrawal amount. 
  • You might have to pay fees to withdraw money less than the minimum withdrawal amount. 
  • A trader might be unable to withdraw an amount less than the minimum. 

Thus, the minimum withdrawal amount is one crucial factor you should consider while deciding on a suitable trading platform. 

Good to know!
As for Binary.com, the minimum withdrawal amount is $10. Again, the minimum withdrawal amount of Binary.com is one of the lowest amounts in the industry. Most brokers don’t allow the traders to withdraw an amount less than $50-100.

Payment methods available with Binary.com

Binary.com payment methods

To fund your Binary.com trading accounts, you would need a payment method. One should look for and select an online trading platform that offers multiple payment methods for the traders. 

Good to know!
Having a choice of payment options only brings ease and convenience to the traders. For instance, there can be times when your desired payment is down. You will find it troublesome to fund your account to place trade in such instances. 
However, if you have multiple payment methods available at your disposal, you can use them to fund your trading account. 

Thankfully, Binary.com offers a choice of payment methods to traders. At Binary.com, you can use the following to add funds to your standard/MT5 trading account. 

  • Bank transfer or wire transfer
  • Credit or debit cards (Visa, MasterCard, or Maestro)
  • Cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Tether, and USD Coin
  • Electronic wallets including Fasapay, Neteller, Skrill, Perfect Money, WebMoney, Qiwi, Paysafecard, Jeton, and Sticpay

Thus, while trading on Binary.com, you can pick the most suitable method to begin trading. Funding your real trading account with the broker is also smooth as it requires only a few steps. 

  • Sign in to your Binary.com trading account using the login credentials available. 
  • Click on the ‘add funds’ or ‘fund my account’ option to add money to trade assets. 
  • Finally, select the payment method you want to use to add money. 
  • Enter the amount
  • Finally, after you click on ‘continue’ and verify the payment, your Binary.com account has funds. 

You can use these funds to buy and sell hundreds of assets on Binary.com. 

(Risk warning: your capital can be at risk)

Funding and withdrawal time at Binary.com

You wouldn’t want to miss out on profits when extended time is involved in funding your account. Some trading platforms might not credit your trading account with funds until they receive them. Thankfully, it is not the case with Binary.com. 

As soon as you confirm your account funding, the broker will credit your account with respective funds. It will allow you to place trades when you see an opportunity to earn profits. 

On the other hand, withdrawing money through Binary.com might take up to 24 hours.

The broker takes 24 hours to process your withdrawal request. Other than that, the duration you receive your withdrawal will vary according to your payment method.

Good to know!
Withdrawals made through bank transfers or credit cards might take up to a few days. However, if you withdraw funds using cryptocurrency or an electronic wallet, you might receive your funds instantly after your request gets approved. 

(Risk warning: your capital can be at risk)

Assets available on Binary.com:

As Binary.com is one of the most reputed and old brokers, it provides its users access to different assets. Binary.com is an ideal trading platform to trade binary options, forex, currency pairs, stocks, indices, etc. 

Binary.com assets and markets
  • No matter what your market specialization is, you can always find an asset to invest in on this platform. 
  • There exist more than 45 tradable assets on the Binary.com online trading platform. 
  • These assets are available across different underlying markets. 
  • A wide range of assets offers Binary.com traders a chance to diversify their portfolios. 
  • A diversified portfolio lessens their chances of losing all their money.

Thus, we can say that a great number of assets is a plus point for the traders of Binary.com. 

Mobile applications (app)

Nothing attracts a trader more than a mobile application to trade easily and conveniently. Trade on the go with laptops or the web is nothing but a hassle. Thus, the mobile application is one of the easiest ways to trade online. 

Binary.com app and trading platform

Trading through Binary.com mobile application is simple. It has all the features Binary.com offers the traders on its web version. 

The mobile application has high ratings from traders. You can download Binary.com mobile application by following these steps. 

  • Open the App Store or the Playstore on your Android. 
  • Find the ‘Binary.com’ mobile application in the search bar. 
  • Choose to install this mobile application on your phone. 
  • Once installed, you can log in to your trading account in the same way as you do on the web version. 
  • After logging in, you can see the details of your trading account. You can place trades the same way on the web version. 

(Risk warning: your capital can be at risk)

Binary.com fees and commissions 

The best part of trading with Binary.com is that traders do not have to worry about fees. Ideally, you wouldn’t find many brokers in the market that do not charge fees and commissions from the traders. 

However, binary.com is one favorable trading platform when we walk about the fees and commissions. 

Payout at Binary.com

The next thing you should consider about a broker is their payout percentage. After all, this payout percentage will help you know the number of profits you can make. 

Binary.com allows users to get payouts up to 92%. It is much higher than the market average because most brokers have a low payout percentage.

Thus, we can undoubtedly say that Binary.com is one of the best brokers out there. 

Minimum trade on the platform

Novice traders wouldn’t want a platform that asks you to make huge investments. When you are only learning to trade, many requirements can frustrate you. Thus, minimum trade is among the most significant factors when selecting a trading platform. 

A novice trader can lose money if the minimum trade value is high. 

A trader can start his trading journey on Binary.com with a minimum trade of only $1.

(Risk warning: your capital can be at risk)

Other features’ availability at Binary.com

Let us find out whether other top features are available at Binary.com or not. 

Features Availability
Educational servicesNo
Social trading/copy tradingNo
Trading signalsNo
Email alertsYes
ChartsNo
Offers and promotionsYes
Stop loss and limit ordersNo

Educational services

These services are an important feature for any trader. A trader usually goes with an online trading platform that offers plenty of resources. It helps them to brush up on their trading skills. Regularly conducting webinars or providing trading journals are beneficial for all traders. 

However, Binary.com does not offer any educational resources to the traders. It is one of the drawbacks of this online trading platform. 

Social trading/copy trading

Allowing the traders to learn trading from their fellow traders is an upcoming feature of all online trading platforms. This feature is for those traders who do not wish to research to place their trades. 

You can copy the trades of all other experienced traders and earn profits. However, such features are not available on Binary.com. Thus, it is one of the drawbacks of trading with this online trading platform. 

(Risk warning: your capital can be at risk)

Trading signals 

These signals can lessen the possibility of making losses when received on time. Many online trading platforms offer trading signals to traders to help reduce their loss percentages. 

Trading signals help traders buy or sell their assets according to the market situation. 

Trading signals are not an integral feature of Binary.com. Thus, a trader will have to rely only on his research. 

Email alerts 

Thankfully, Binary.com provides users with email alerts. You get the email alert when you log in to your account. The broker might also send alerts when someone else tries to get into your account. Thus, your account and the funds in your account stay safe.

Trading with charts

Charting software is one thing that allows traders to make the most accurate trading decisions. Charts allow you to understand the market trends and thus strategize your trading moves. 

However, Binary.com lacks in offering charting facilities for traders. 

Offers and promotions

Various online trading platforms lure investors by offering various offers and promotions to traders. Offers and promotions offer various monetary benefits to traders. 

Binary.com does offer various offers and promotions to traders. It is an interesting feature that allows traders to get monetary benefits with the online trading platform. 

Stop loss and limit order features

Stop loss and limit order feature allows the trader to limit their losses. Various trading platforms offer this feature to limit traders’ losses to a certain level. 

These top features are not available on Binary.com. Thus, it is one of the drawbacks of this online trading platform. 

(Risk warning: your capital can be at risk)

Advantages and disadvantages of Binary.com

A trader experiences many advantages and disadvantages of trading with Binary.com.

Advantages (pros) of Binary.com

  • A trader can easily signup with Binary.com to trade online. 
  • It offers over 45 trading assets to traders. 
  • All leading stocks, currency pairs, commodities, etc., are available on Binary.com. 
  • The trader can begin trading with Binary.com with a minimum deposit of only $5. 
  • Binary.com’s minimum withdrawal amount is also as low as $10. 
  • You can use the Binary.com demo trading account to learn to trade for free.
  • A trader can start trading with only $1. 
  • Email alerts and customer support are available for all traders trading on Binary.com. 
  • The trading platform has user-friendly features allowing traders to trade without any hindrance. 
  • Multiple payment methods offer ease of funding their live trading account. 
  • The withdrawal process is seamless and hassle-free. 
  • You can take expert advice on the platform to limit your losses or learn to trade.
  • Multiple offers and promotions are available for the traders at Binary.com.
  • A trader does not have to pay fees or commissions for trading on this online platform. 
  • Opening your trading account does not require you to pay any charges to the broker.

Disadvantages (cons) of Binary.com

A trader can experience a couple of disadvantages while trading with Binary.com: 

  • Binary.com offers a limited number of features to traders.
  • A trader has no access to the educational resources with Binary.com.
  • It does not offer the features of copy trading and social trading. 
  • The withdrawal request takes almost 24 hours to process—other online trading platforms process withdrawals within as early as 60 minutes. 
  • A trader has no access to trading signals and trading charts. These trading tools are crucial to allow traders to earn profits. 
  • Stop loss and limit order features are not available at Binary.com.

Final verdict: It is a legit broker

Binary.com is one of the oldest online trading platforms for brokers. This genuine broker has hundreds of traders trading various tradeable assets. 

Binary.com allows its users to make the most out of trading. The low minimum deposit, withdrawal, and trading requirements are lucrative for any trader. 

However, the online trading platform is not as feature-rich as it should be. This broker lags in providing features of copy trading, social trading, education, and research to the traders. In addition, features such as stop loss and limit orders are also missing from Binary.com. Thus, you can choose to join this broker based on your convenience.

(Risk warning: your capital can be at risk)

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