Binary.com is a broker well worth checking out. It is not like any other broker you will find and is one of the most versatile platforms for social traders. The company has offices in the Channel Islands, Costa Rica and the United Kingdom, has been a leading provider of trading technology since 1999 and is well regulated. The broker is currently regulated by the Isle of Mann GSC and the Malta Financial Services Authority as a financial services provider operating under the MiFID. The company has a unique set up, offices and incorporation in 3 locations, but this allows them to provide regulated and safe trading for residents in the UK, the European Union and the rest of the world.
Full Review Of Binary.Com
Binary.com has been in business for over a decade. It was previously known as Benton Markets and has since transitioned to the new name. Regardless, the broker has a long history of fair dealings and cutting edge trading tools that make it a perfect choice for social traders. The first thing to know, option contracts are priced in the 0-100 model like US style binary and CFD’s. The difference is that the only strike available is the spot price, just like with the more typical binary contracts.
There are a couple of other differences as well but they only make the platform more versatile. Once you pick the asset you want to trade you pick the start time. This means you can set an option to open just after or just before a known market event. The next difference is expiry; they call it duration. You can pick either the length of expiry from point of purchase or a specific end time such as 2PM tomorrow. Choices for expiry are extensive ranging from as short as 5 ticks, yes 5 ticks, to seconds, minutes, hours or days.
Now, payout, payout is similar to the 0-100 model but better described as all-or-nothing. This is how it works. You can choose to view your trade amount as Payout or Stake. If you set Payout at $100 options will price based on a payout of $100 with your profit the difference in purchase price and $100. If you set Stake at $100 options are priced at $100 and will show you the amount of return if closed in the money. The beauty of this system is that payouts run pretty high, as much as 100% or more on average.
Banking With Binary.Com
Banking with Binary.com is yet another feature that sets this broker apart from the run-of-the-mill. They accept wires, credit cards and a full line of eWallets. By wires I mean bank wires, Western Union and others. eWallets include Skrill, Netteller, MoneyBookers and many others. Minimum deposit is ridiculously low, only $10 in most cases (CC’s, most eWallets etc., some wires have $25 minimums) and matched by a $1 minimum trade size.
Credit card and eWallet deposits are immediately available for trading, wires take 5 days to clear, Western Union takes only 1. Withdrawals are where they really stand out; wires take the longest, 5 working days, but credit cards take only 3 and eWallets only 1 so you can be assured you funds are readily available.
Bonuses are available but once again are not like what you will find anywhere else. I actually like the system, the bonus is offered at time of sign-up, if you want it you have to meet the bonus minimum BEFORE you receive the money. It’s like this; you deposit $100 for a bonus of $25, the minimum is 5X which is really low. This means once you generate $125 in trades they give you the $25 and the money is yours. You can withdraw it and any profits at any time from that point forward. Other bonuses and demo accounts are also available so be sure and check with a rep before depositing.
Social Trading At Binary.com
Binary.com does not put itself up as a social trading or copy trading platform but nonetheless it is a great choice for new and old social traders alike. There are no copy trading features but that is not a problem. The platform features, most specifically the expiry, make it perfect for trading signals from any source. What I mean is, you can tailor your expiry to match any signal, tip or trade you get from your social network. Another bonus for social trading is the charts. This broker has the best charts of any broker on the market, actually they have three different charts that are all better than anything else you can find. The one I like the best is the Java Charts package, it’s the one I use every day.