Binary.com is one of the most well-known of the international sites for binary option traders online. It is licensed and regulated in the United Kingdom, the Isle of Man, Ireland, Malta and Japan, but not in Australia.
Binary.com is owned and operated by the Binary Group Ltd, but traders in Australia will be trading through the Costa Rica-based company Binary (C.R.) S.A. This company is just a regular Costa Rican company; it is not licensed or regulated as a provider of financial services in Costa Rica.
Australian traders trading in FX and CFD through Metatrader 5 will do so through the company Binary (V) Ltd, a Vanuatu-based company licensed and regulated by the Vanuatu Financial Services Commission.
Binary.com is a well-established online trading company with roots going back all the way to 1999, when online trading was still in its infancy. Known as BetOnMarkets until a rebranding in 2013, Binary.com is hailed as one of the trailblazers of binary option trading. Still holding the torch of innovation high, Binary.com is today one of the few binary option sites that permits Bitcoin funded trading accounts.
The Binary.com platform handles over 1 million transactions per day, chiefly from traders in Europe and Asia. In Asia, the company is especially popular in Indonesia and Singapore.
Getting started with Binary.com
Singning-up and getting started is easy, and you can use a demo account to become familiar with the trading platform without risking any real money. Your demo account will come funded with $10,000 in virtual money to allow you to try out many different trades and trading strategies.
Once you decide to start trading with real money, you will be happy to know that the minimum deposit is just a few dollars. This distinguishes Binary.com from many other online binary option sites and has helped them become popular with novice traders who don’t want to make a big first deposit. Also, Binary.com has elected to keep the minimum trade size small: it’s just one dollar.
The standard Binary.com trading platform is sleek and very easy to navigate. Binary.com has resisted the temptation to overload if with too much information and features, so you wont easily get lost or distracted when you log in.
The first field in the trading is for selecting type of underlying asset. Once you have picket the type, you proceed to selecting the actual underlying in the second drop down list. Once you have gotten this far, you continue by adjusting parametres such ad duration (lifespan of the binary option). You will be able to see the current spot price of the selected underlying on your screen, together with a small price graph. Beneath this, the payout fields is located. You let the platform know your desired payout, and it will tell you the stake required to make this possible. (Many other binary option platforms work the other way around, i.e. you select the stake and the platform tells you how large the payout will be of the binary option expires in the money.)
The smallest possible trade at Binary.com is just 1 AUD, making this platform a popular choice with traders who don’t have huge bankrolls. When such small trades are allowed, it becomes much easier for the hobby trader on a limited budget to engange in some serious hedging and risk management techniques. At the same time, the max trade is a whopping 100, 000 AUD so traders with deep pockets can use this platform too.
At the Binary.com platform, live market data is dislpayed in live feeds and via chart packages.
In addition to the standard platform, you can access MetaTrader 5 through you Binary.com account. MetaTrader 5 is for advanced CFD (Contracts for Difference) trading.
Trading on a mobile device
Mobile trading takes place at the Binary Next-Gen platform, which is compatible with both iOS devices and Android devices (2.3 and higher).
The mobile trading interface is clear and easy to use, even on fairly small screens.
Examples of binary option types available at Binary.com are Up/Down, Ends In/EndsOut, and Stays in/Goes out (No Touch/Touch). You can not see the available option types until you have selected which type of underlying asset you want, e.g. stocks, commodities, forex, etc.
- Up/DownThis is the classic type of binary option and it is very popular among the Binary.com traders. Your task is to correctly determine if the underlying asset will raise in value (Up) or fall (Down). It is the value of the underlying asset when the binary option expires that’s important.
- Ends In/Ends OutWith this type of binary option, you need to guess if the value of the underlying option will be within (Ends In) or outside (Ends Out) a certain predetermined value intervall when the binary option expires.
- Stays In/Goes OutWill the value of the underlying asset stay within a certain predetermined value intervall (Stays In) throughout the lifetime of the binary option? Or will it venture outside this intervall (Goes Out) at least one time throughout the lifetime of the binary option? With this option type, the value of the underlying throughout the entire lifetime of the option is important – it is not just the value upon expiration that determines if you get paid or lose your money.
Stocks, indices, commodities and currency pairs (forex) are available as underlyings for binary options at Binary.com. There is also a category of underlyings known as randoms. These are randomly generated and aren’t tied to any real stock price, real currency exchange rate or similar.
The largest category of underlying assets is the one for currency pairs.
The binary options with the shortest expiration time at Binary.com will expire just a few ticks into the future, while the longest ones last for a year.
When it comes to payouts, most binary options at Binary.com offer payouts within the 80% – 94% span. There are a few binary options that will pay more than that though, including some that pay 100% when they expire in the money.
The Binary Bot at Binary.com
At Binary.com, you can use the Binary Bot to build and operate a robot for auto trading. Create your own automated trading systems and put them to work at Binary.com.
The Binary Bot comes with a lot of advanced features and allow for really complex and precise trading strategies.
Technical analysis at Binary.com
A wide range of charting tools are availabe at Binary.com, so this is a great place for anyone interested in technical analysis.
Become an even better trader
Binary.com offers plenty of educational and training materials for clients interested in taking their trading to the next level. Chose between various formats, including video, e-books and online seminars (webinars).
Once in a while, Binary.com makes the popular “Mellon on the Markets” by Jim Mellon available as a free download.
Launched back in 2015, Binary.tv will provide you with up to date market analysis and reviews. This is the place to go to get new perspectives on how current events – everything from market swings in East Asia to new legislation proposals in the U.S. – can impact the movements of assets used as underlyings for binary options at Binary.com.
Binary.com accepts many different transaction methods, including several major credit and debit cards, and e-wallets such as Neteller, Skrill, WebMoney and FastPay. Bank wire can also be utilized.
The size of the minimum deposit vary depending on which transaction method you wish to use. With Neteller, Skrill, WebMoney and FastPay, you can make deposits as small as 5 AUD. For credit and debit cards, the lower limit is 10 AUD, while bank wire transfers carry a minimum deposit of 25 AUD.
For withdrawals, e-wallets tend to be the fastest option, with withdrawals through Neteller and Skrill often being processed within one or two days. Bank wire withdrawals will on the other hand typically take five days to process. Credit and debit card withdrawals fall in the middle, with an average processing time of three days.
Customer support for Australian traders
The phone support number for Australian traders are:
+61 (02) 8294 5448
1800 093570 (Toll Free)
The email support adresses are the same for all traders regardless of geographical location:
email@example.com (for payment-related issues)
firstname.lastname@example.org (for everything else)