Binary.com is one of the most successful binary options brokers, which has been operating since 1999. A few years ago, the organization received a Forex dealer license and expanded its services. We will diligently check the conditions of the company and find reviews about it to understand whether it is worth trusting this broker or if it is a scam.
Table of Contents
Highlights
| 🏛️ Country | Malta, Vanuatu, British Virgin Islands, Malaysia |
| ⚠️ Regulation | MFSA, VFSC, FSC BVI, Labuan FSA |
| 🖥️ Website | https://www.binary.com/, https://deriv.com/ |
| 🎲 Demo Account | Yes |
| ⏳ Start Time | 1999 |
| 💲 Minimum Deposit | $5 |
| ⚖️ Minimum and Maximum Leverage | 1:1, 1:500 |
| ⚙️ Trading Platform | Smart Trader, MetaTrader 5,TickTrade |
| complaints@deriv.com | |
| 📞 Phone | +44-1942-316229 |
First Impression of Binary.com
It’s hard to guess from the site’s interface that this is one of the most “advanced, secure and experienced binary options brokers”. The design cannot be called stylish, modern, or very functional. By the way, the firm claims that traders have trusted it since 2000.
It is curious that Binary.com has migrated to the site deriv.com. The broker was rebranded and we will describe mainly its new website. So, whom traders really trust is a big question. Binary.com warns of high risks and lists several of its legal entities. Each organization is regulated by its own license.
Of course, the broker does not miss the opportunity to impress with huge numbers. In one of the sections there are diagrams that clearly illustrate the growth of customers, contracts, and turnover.
Partnership and Bonuses
Binary.com has several partner programs. The first one is a classic one. According to its terms, you will get profit from the trading commission of each invited referral. The reward will be up to 45%. Or you can get up to a $100 reward in one payment. However, this only works for EU residents and if your referral has deposited the account with at least $100. We wonder why the broker makes such a difference between countries?
Account Opening on Binary.com
The registration form is on the Deriv home page. You need to Enter your email address to register in the system. You can also use a Google+ or Facebook account.
After that, you should receive an email confirming your account. After clicking on the link, you will be asked to come up with a strong password and choose your country of residence. Next, you will be taken to your personal account.
Right on the start page, you can try to open an order, because when you register, you get 10 thousand dollars on a demo account. The personal account, like the website, has too little functionality. You can use different terminals, view the history of transactions, fund your account, use reference information, and change your personal settings. To open a real account, you need to fill out another small form.
Verification
For verification, Binary.com asks only the proof of identity and proof of address. To do this, you will need to upload photos of relevant documents, for example, a passport or a utility bill.
- A convenient form for uploading documents.
- It is not specified how long documents will be checked.
- When withdrawing money, additional documents are requested.
Trading Software
Binary.com offers 3 main trading terminals: Dctrader, DBot, DMT 5. You can trade either in the browser or in Metatrader. The web version looks cluttered and complicated.
A self-made terminal is the worst choice. There are only 22 indicators in it. It is impossible to set the required timeframe. Such functionality is not enough for professional trading, but you can get a general understanding of the situation on markets on the chart.
When checking the correctness of trades, a minus was highlighted. The order is executed with a delay of several ticks. Such an unacceptable pause can seriously harm your deposit.
| Features | Binary.com | Quotex | Binomo |
|---|---|---|---|
| Demo Account | ✔️ | ✔️ | ✔️ |
| Mobile App | ✔️ | ❌ | ❌ |
| Own Development | ✔️ | ✔️ | ✔️ |
How Can I Trade With Binary.com?
Binary.com provides its clients brokerage services in the binary options and Forex market. The company has additional offers: margin lending and a free robot for trading.
The effectiveness of automated algorithms for working with the fixed-term contracts market has not been proven. Very often, such programs simply drain the deposit. Why does Binary.com provide customers with a free algorithm that will take money from the company? Such a strange charity.
All Info About Accounts
Traders can use a wide variety of types of binary options:
- Up/Down
- Touch/No touch
- Inside/Outside
- Asian (at average prices)
- Digital (at decimal prices)
- Reset Call/Reset Put
- The largest/Smallest tick
- Up/down only.
Binary provides a single account.
- You can trade CFDs.
- No additional services.
- No swap-free account.
Deposit, Withdrawal, and Fees
Ways to deposit and withdraw funds:
- Bank cards
- Wire transfers
- Electronic wallets FasaPay, Perfect Money, Skrill, Neteller, WebMoney, QIWI, Paysafecard, Jeton, SticPay, Airtm
- Cryptocurrencies Bitcoin, Ethereum, Litecoin, Tether.
| Features | Binary.com | Quotex | Pocket Option |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ✔️ | ❌ | ✔️ |
| Crypto Transfers | ✔️ | ✔️ | ❌ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ❌ | ❌ | ❌ |
How Can I Contact It?
You can contact support in several ways. Among them are a live chat on the website, a phone number, and an email.
- There are several ways to contact.
- Support is not answering the call
- Long wait for an email response.
Is Binary.com Dangerous?
Apparently, the presence of several licenses and such a long period of work should speak only positively about the broker. However, in this case, not everything is so clear, and there are several interesting facts that should be considered in more detail.
How Long Does The Broker Work?
The client is informed that Binary.com has been working for more than 20 years and its history began in 1999 with the creation of Regent Markets Group. It probably confuses you that the broker seems to be called that way, but in fact it is different. For 20 years the company has been changing names, rebranding, and so on. However, of course, it counts all this into the “piggy bank” of general experience.
It is clear when the legal entity only changed its name as part of the rebranding. In the case of Deriv or Binary.com, call it what you want, new companies just open up every time. Just a year ago, this broker was called Binary and offered exclusively binary options trading. Today, the legal entity is already called Deriv, has received registration offshore, and has started its activities from scratch. The broker needs to call a spade a spade. However, it adds a few years of age thanks to organizations that have been functioning for a long time, but have disappointed customers. By the way, this is what happened with Binary.com. That’s why Deriv suddenly appeared. Of course, it’s time to think about rebranding.
How Is Binary.com Regulated?
Binary.com posts information about 4 licenses from various regulators. It’s worth saying right away that the broker really got them. However, the quality of these documents is laughable. The company managed to collect literally all the offshore documents. It received certificates from regulators in Malta, Vanuatu, the British Virgin Islands, and Labuan. Which of these offshore companies will the client go to if problems and disagreements with the broker suddenly arise?
We would like to remind you that Binary.com (Deriv) has twenty years of experience. Was it really impossible to register a legal entity in a “clean” economic zone and get a license from a reputable organization during such a period? However, the matter is most likely not that the broker does not care about its reputation, but that decent regulators do not allow setting leverage to 1 to 1000. Since this is the shortest way for investors to lose money, of course the broker is satisfied with it.
| Features | Binary.com | Quotex | Binomo |
|---|---|---|---|
| European Zone | ❌ | ❌ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ✔️ | ❌ | ❌ |
Frequently Asked Questions (FAQ)
How to Trade With Binary.com?
Is Binary.com Legit?
How Risky Is It?
Kevin Berry This is a really old and reputable binary options broker. But here’s the thing, do you need my opinion on this? I mean, if you are wary of binary options, which are banned in many countries, you won’t consider them anyway. If you want to try your luck, you will trade anyway. I wouldn’t even trade CFDs with this offshore Binary, but it’s up to you to decide if you’re willing to take the risk.
Binary.com rating
4 reviews about Binary.com
I couldn’t make any money here. The conditions are generally strange. On some binaries there is expiration from the current moment for a certain number of minutes. On other pairs expiration is strictly after 10, 15, 20 minutes. I couldn’t solve the riddle, and I gave up on this lost cause. There is no money here. Everything here is against the trader. You will not be able to raise money.
At Binary.com, I am surprised by many things. For example, it sounds very strange and even crazy that the platform can simply turn off some currency pairs whenever it pleases. It is at least sooo alarming. The platform also likes to greet people with the message “Planned technical work is currently underway.” I just can’t understand, if the work is “Planned “, why are they not warned about a week, 3 days, a day? And they just suddenly appear and interfere with trade.
Withdrawal of funds does not work. They simply do not provide an opportunity to withdraw even the funds that you have just deposited. For some reason, to deposit funds, only card data is required, and to withdraw a whole pile of documents that is unrealistic to collect!
For the first time in my life, I encountered a very strange situation. Usually the broker is very long and tedious to withdraw funds, but there are no problems with crediting! I was amazed when the “instant” enrollment took me about 9 hours! 9 hours, CARL! I’ve already called support and written emails. They say this is a regular situation, and I should wait. How is this possible in the modern world? This level of service does not suit me very much. I decided to cut off all ties with such a dubious company as soon as possible.