A Review of Binary.com
Binary.com (previously known as BetonMarkets) is a group of companies regulated in Malta and the UK which offer binary options services all over the world, with the exception of United States, Japan and Hong Kong. The group was founded in 1999 and has gone from strength to strength, reaching over 130.000 transactions daily in 2014 and 1 million clients in its database in 2015. Those are big numbers, so let’s take a closer look to see what makes Binary.com so popular.
The trading platform is entirely web-based (including all charting packages) and very easy to use due to its intuitive features. There are five ways to trade – up/down, touch/no touch, in/out, digits and asian on five different asset classes – forex, indices, stocks, commodities and randoms.
Up/down comes with two different choices: rise/fall when you want to profit from the chosen instrument rising or falling from its current price; higher/lower when you want to profit from the market ending (you can select the desired duration from seconds to days) higher or lower than a predetermined price level.
Touch/no touch is suitable for when you want to profit from the market touching or not touching a particular price level during a predetermined time period (which again, can be from seconds to days)
In/out is similar to range trading. You can choose stays between/goes outside to profit if the market stays between two price barriers or goes outside them at any moment during the selected time period; the second option is ends between/outside which turns a profit if the price ends the preset time either in the selected range or outside it.
Digits (available only for randoms) if you think you can guess correctly the last decimal digit of the spot after a predetermined time, this is the right option for you.
Asian (available only for randoms) is the solution if you think you can guess whether the last tick of the spot price is higher or lower than the average of a set number of past ticks.
So what are these ‘randoms’ ? As the name implies, they are random indices available 24/7 created by Binary.com. In total there are 12 of them, with funny names such as Random Sun or Random Yang. At this point I should mention that these are purely gambling products, as they have no real underlying assets (like for instance Oil or EUR/USD). This explains why Binary.com beside having a license from Malta Financial Services Authority also has a license from the UK Gambling commission. Furthermore, there is a warning on the website about the addictive potential of gambling and some advice on how to do it responsibly. I just wanted to stress this aspect because some of the ‘randoms’ are fast paced, and coupled with around the clock availability, they have the potential to become very destructive, financially speaking, in the wrong hands.
There are several deposit/withdrawal options with Binary.com, from bank wire and credit/debit card to a host of e-cash solutions, with a minimum amount of $5 and a maximum of $100.000.
To conclude: binary options might not have the best of reputations, mostly because of an environment rife with frauds and unregulated entities. When your broker is the counterparty to your trades, then trust is of utmost importance. With a 16 years history and regulated by reputable gambling and financial supervisors, Binary.com is the ‘go to’ place for both individuals and market professionals interested in trading binary options.
Special!:
I’ve even managed to secure an exclusive £20 credit especially for you if sign up to Binary using this link.
The promotion code for the free £20 credit is FSBS. As long as you signup using our link above the bonus code will be automatically embedded in the signup form. To claim the extra £20 credit e-mail offers@binary.com quoting FSBS after upgrading to a real money account.
