To find a reliable and honest Binary Options Broker can be a tough game. Broker pay high affiliate commissions up to $800 per trader you can bring to these hungry company monsters – of course everyone and his dog will try to sell their grandma to get a hop. Sadly this is reality in the world of online trading and you should be more than just aware to look out for REAL reviews. It is helpful to take a look at FOREX PEACE ARMY, as they offer great information often.
Today we want to take a close look on BINARY.COM (Formerly known as BetOnMarkets – which is quite funny as BETON is the German word for Concrete hahahahaha, okay not funny back to topic). If you google BINARY.COM here as well it is not easy to find any reviews, which are not biased by their affiliates. I don’t complain, just explain. This review does not contain any affiliate links, I simply won’t link BINARY.COM at all to bring up some extra proof and leave you with no doubts that this is a real unbiased review.
First of all I want to stress that it is never wrong to know a binary options broker has a proper financial background (as we saw broke brokers in the past, e.g. iOption) to pay your earnings from the trades you learned at TBN. Owning a top player domain like BINARY.COM, is an actual indicator that the company at least had once an impressive liquidity to buy it. But let’s take a look at the hard facts instead of assumptions.
Having one or the other brokerage account in the interwebz, BINARY.COM left me impressed. They really have the most honorable approach in the binary options industry from what I have experienced in the past. They are one of a kind when it comes to gambling protection, payouts & available assets but later more on that.
The Registration & Verification Process at Binary.com
You are quickly registered, that is for sure – however you can have a hard time get your account verified, if you deny your phone number. I asked the live chat why my verification process takes so long, and they told me that they need to call me. I asked them why and had to ask this through multiple layers of employees until I got a bit mad with them – finally they verified the account without having me called (yes, not a big deal to the most – I just hate to talk with fishy human chat bots and so I don’t do so). However, it is remarkable that they won’t let you deposit a single dollar if you are not fully verified. This is a good thing, as most brokers want you to deposit as early as possible, as much as possible. BINARY.COM let you go through their verification process first – after that deposits are welcome of course, but first things first so to say.
+++Important: BINARY.COM does not take U.S. Clients+++ (oh, bummer!)
Are BINARY.COM regulated?
Yes, they are. Having the company in the European tax paradise Malta, they are regulated with the MFSA, the Malta Financial Services Authority, which is applying to the Mifid regulations by the EU. Furthermore they have a seal by the Malta Gaming Authority, meaning that they have took their steps to avoid addictive trading.
The platform by BINARY.COM
Whilst the orange is still beautiful, someone can get a weird 90ies feeling with the combination in smurf blue – Back in these days, I had a shirt in this colorset, I remember. OK, but it is definitely not about fashion here, so let’s bring back the bacon to the facts. I think most will agree that the design is pretty basic, and therefore down to earth. I suggest to open BINARY.COM in one tab, and right beside the polished IQOPTION. However, this basic design is better in terms of performance as you will figure out quickly. To stay with that example IQOPTION has brought every machine to heat or to slow down to date I tried with. But enough about design.
When BINARY.COM started as BETONMARKETS I was not convinced once I discovered it. I registered and tried it out, but it is so very different to other brokers, that I felt lost. No not really lost but I was not comfortable trading there. First of all you will find it perhaps a bit tedious to have all these dropdowns. Dropdowns are VERY 00’ish. To be fair you have to say that you have to deal with TONS of assets (which is a big plus for them) so this is quite an obvious solution, if you don’t want to mess with testing and better usability options.
Albeit it does not look very neat, it actually is. This is a platform, meant for serious traders and not gamblers – real trading is much more possible here, as – depending on strategy/method – it can be used as a game decided by particular numbers with the help of this platform. Let me explain: BINARY.COM is the first and till date the only platform that offers expiries by freely definable minutes. STOCKPAIR and some other very few binary option brokers have also flexible expires, like ending in 5, 15, 30, 60 minutes, which is quite fine, though the amount of numbers is fixed. All that SPOTOPTION retort babies have fixed expiry times, like 3PM and so on. With BINARY.COM you can define exactly how long you want to stay in the trade – just give it 47 minutes if it makes any sense for your trade for example. That is spectacular and a very unique feature – for example to exploit the End-of-Hour-Effect a bit better. Heck, you can even define an entry date in the future for an automatic starting trade for a certain point of time, if you know some special news are coming or whatever reason one might have.
Also funky and unique in the market: Instead of time based, you can place tick based trades, like you bet on a direction reached by the next 10 ticks for example.
Furthermore you can choose between the payout you want to get (if the trade runs in your favour of course) or the stake you are willing to invest. Especially if you tend to trade to high amounts, it is a very helpful feature to trade with payouts instead. Example: I can trade $20 as payout value. If I win I get $20, whilst $12 have been initially taken from the account. With the stake option, initially $20 are taken from the account and you will get around $38 in case of a win.
If you want to trade more than one trade at once, you have to go to the portfolio page for the overview.
This is a bit uncomfortable if you want to monitor what is going on right now while being in position to place a trade – however, multiple tabs are helpful. Another small uncomfy fact is that the tick charts are below the fold, so you have to scroll down and pinpoint the position, you can’t execute the trade + see the tickchart really well at one time for an optimized entry. You have at least a micro tickchart in the upper area, but I think there should be a better solution.
Furthermore there is an option to trade touch options and in/out ranges, which can come in handy in some cases – however I always forgot about this option when it made sense to use. Talking about being mindless.
However – there is another thing to say: BINARY.COM offers multiple plattforms to use – A very cool webtrader with GOOGLE CHROME extension, allowing ultimate overview with multiple asset boxes, as well as the use of their android app within the browser.
Are the Payouts good on BINARY.COM?
Well, it depends. We have seen different times, especially in the evening the payout %s went down dramatically. After they received a massive amount of complaints, we guess, they adjusted. Their payout rates are algo-based and flexible. Each direction to trade has it’s own percentage (which, by the way, can be seen as additional VERY soft indicator). Personally in my trading time, the Asian and the EU session it is very much in the 80%s to 90%s which is VERY good. Currently I really can’t complain about their payout rates and would consider them as very good.
Your infinite Demo Account on BINARY.COM
Another reason why we think BINARY.COM is serious about gambling protection is, that they offer an unrestricted Demo Account. Whenever you want you can push fresh 10K of virtual money into your account, which is a very good pratice by BINARY.COM. As you can see on my screenshots I have just 125 bucks in my virtual account. Once reuploaded, I start doing losing trades until I have it down at $25, to practice account growth like teached in our Money Management. I also use the demo account to iron small trade sizes into my brain. Just as a small hint for your journey.
By the way when I deposited with my first broker 24OPTION.COM I told the account manager that I am totally new. He said, “OK – then you better don’t just deposit 250€, but 1000€ as with 1K you can learn trading first – 1K deposits are eligible for a demo account!” WOW, I mean what? I have to deposit 1 grand just to get access to the demo account? Sadly I experienced this again and again. So industry-wise BINARY.COM does very well here, even it should be standard.
The Anti-Gambler Protection Features by BINARY.COM
As you might have seen here on THE BINARY NERD we care much about our readers – we want to help establish yourself as a trader instead of a gambler. As you can see on this website I am myself in the process of this transformation. You can read more about this topic in the following articles: How to get rid of a Binary Options Addiciton, Binary Options Self Control Issues incl Cheatsheet and to finally smile a bit about yourself or others: Trader or Gambler?
But back to BINARY.COM and its engagement to provide you great tools to help you create discipline, becoming a TRADER instead of gambler. Let’s take a look through their industry-unique features:
I mean this is really WOW! They took their responsibility and developed whatever they could do to help you with your issues – and this lies in general against the interests by a broker. Actually, in the time where I recalled my credit card number from mind to deposit, I experienced that they did everything they could to exploit your addicition patterns. I will write an article soon, how they are doing this. Bravo @ BINARY.COM to take your part of the responsibility story very serious.
When started with The Nerd’s Money Management, I went crazy easily and my trade size has been far away from responsible. The daily limit on losses feature by BINARY.COM has helped me a lot to create the discipline needed. Things is, once set, you can’t simply remove it which super nice. I tend to make much money over the week and put my account low on the hard to trade Fridays – again and again. If this should happen now again, after loosing 50 bucks, it is over.
BINARY.COM got in RAGE with its APPs
When I first installed the BINARY.COM app I was like, what shit is this? It was scatter with ads, totally unusable, I even doubt it is official as you never know in a heavy marketed field like this one. Meanwhile it is away, which is just good as it left BINARY.COM in a shady light. Now they are listed with two apps with the official binary.com-account. A normal trading app and a tick trade app. These are pretty well, and work better as the most in the industry – at least much better as that SPOTOPTION crap. However, I just downloaded them for this review as I think, despite the fact there are situations it might come handy, generally no serious trader should place his trades per app.
Errm, what the hell has this BINARY.COM shop to offer?
Wow, this shop is just wow. Once I visited it first it looked like the dark net for traders. Between BINARY.COM puzzles and shirts, they offer free things, everyone would have been able to access over the internet anyways, they offer e-books on “How to martingale”, currency exchangers and strange bots with names like “Lucky Luke”, Binary Bot Pikko, SBB – SMART BINARY BOT, and whatelse. This shop leaves me actually head-scratching. It is the opposite of the impression of the trading platform we got.
Is there any negative CRITICS about BINARY.COM? Are they really no scam?
Well, everything that ever came up in forums, like late withdrawals or so, has been resolved in record time as it seems according to our research. What can be critized is a behaviour they have shown with SIGNALHIVE. The signal providers used their API and have some very succesful traders that have long rows of winning trades overnight. As more and more people recognized the winning configuration for this offer, it seems like it became a major problem to BINARY.COM. So they cut down the night time trading as a result. Whilst this is no scam, it can be seen at least as unfair.
UPDATE: The problems seems to be solved and most should be back to normal.
One topic in an forum claims to have observed price manipulation but we never heard from it anywhere w+else, nor did we experience this ourselves. However a small trick they are using, which you have to know about is about the currency pair GBP/USD. Here they show it only 4 digits pair, without the last micro pip. This makes it really hard to get an favourable entry, especially in the world of binary options.
Now, as we know it is not scam – How fast does BINARY.COM withdraw?
The industry standard can be seen 3-5 days for withdrawals, which can be very wrong if you make mistakes in your account. BINARY.COM is gladly very quick and I often had the withdrawal on the same day or the day after. Here again they made it technically a bit tricky, as if you open the withdrawal page, automatically in the background you will get an email with a security token. No click of a button, just by opening the withdrawal page. If you dont monitor your inbox, you feel like humm? What do I need to do here to get my monieeeeees? Or what to do when this security token email arrives unseen in your junkfolder? There is definitely a communication gap on this particular page which has to become closed if they don’t want to keep their support busy and risk negative reviews. Whilst a day for a withdrawals is really quick it is not the top of the cream anymore. Eyeing over to AYREX, we can see automatically issued withdrawals are not the future anymore, it is presently available.
Forget about Boni. Never take any bonus anywhere, easy as that. Just not worth trouble. Stop thinking about it. Now. You still think about it, I can sense that. OK perhaps everyone has to do the mistakes on its own. We don’t bother in gathering any informations about boni. Don’t say you have been warned.
BINARY.COM is a trustworthy good broker. You need to get used to the platform, but once it clicked, you never want to miss it as it offers many options you won’t find at any other broker. The amount of assets is impressive as well as the possible payouts. The website offers several features for responsible trading and has a set of tools that can help you act like a trader instead of a gambler. Their support is helpful and quick. The binary options broker BINARY.COM is fair, though there have been a few issues in the past you might be aware. The issues arose with using their API for autotrading. We still recommend to use this broker in general it acts very responsible and honest. The overal set of features, payouts, available assets and speed of withdrawals makes BINARY.COM an outstanding partner when it comes to trading binary options online.
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