Binary.com Binary Options Unique Platform Review
Binary.com is the platform and broker formerly known as Benton Markets. Benton Markets got is start as a gaming house and chose to rebrand itself as Binary.com in an effort to capture more of the growing market. Binary.com is operated by Regent Markets and is registered on the Isle of Mann with the GSC and on Malta with the Lotteries and Gaming Authority. This may be a negative for some but over 13 years of service to the industry speaks for itself. Binary.com is not like any other binary options platform on the market. They offer options similar to the standard EU style binary but price and sell them in a way that may be confusing at first. I think though that serious traders who take the time to get familiar with the platform will agree with me when I say they have some of the best binary trading on the market. Visit Binary.com Review by Martin Kay for more information about the broker.
Binary Platform Ratings
Platform Functionality 8/10 Great Platform, Once you get comfortable with it
Platform Efficiency 8/10 Good set up but again, it takes some getting used to
Ease of use 7/10
Additional Information 9/10
Assets And Expiry 10/10
Trading Tools 10/10
Available Options 9/10
Prices and Rates – Good
Why Binary.com Doesn’t Suck
Binary.com doesn’t suck because it has some of the most versatile and adaptable options of any broker on the market. Expiry can be set to the second, minute, hour or day of your choice up to 365 days out for some assets. The asset list is one of the most complete on the market as well including markets in agricultural and industrial sectors not available anywhere else.
Why Binary.com Might Suck
Binary.com might suck because of how the platform is laid out. Defining your trades is much more complicated than with a typical EU licensed broker and may be the root cause of losses for newbies.
The platform technology may seem advanced, and it is, but it has been in use for years as Benton Markets. The binary is traded, and the way they display trade information, is unlike anything anywhere else. The order screen for each trade is the same, you don’t scroll between assets and options. You “define” your trade through a number of selections such as rise/fall, high/low, touch/no touch, expiry time, asset and a few others depending on your trading style. The platform will then give you a list of available options to choose from and shows both sides of the trade. I will be honest, it took me a while to comprehend what I was looking at in a way that I could make a reasonable trade. This platform can be confusing at first but has a lot to offer once you figure it out.
The asset list is quite good. I first thought it average at best but then I checked into the last section listed, the Sectors. There are 26 major and minor currency pairs, 28 indices, dozens of EU and Asia and Oceana region stocks but only 3 commodities. This is why I thought it only average. However, this platform takes trading a step further in this direction than any other to date with their Sectors. This asset list includes things like commodity, stock and futures indices on bonds, cotton, and many many others.
The option types are a little bit different as well. They have the standard high/low binary trade but also a Rise/Fall trade. This is similar to high/low but assumes that an asset will move in the desired direction at time of purchase and never move out of the money. Touch/No Touch is much as you would expect but you can choose your target levels, which affects payouts. The range options are also pretty advanced in terms of what you can trade. There are stay inside/move inside and stay outside/move outside options on some assets.
Expiry is another area where this platform is a leader. Most assets, but not all, have expiry out to 365 days from purchase. Expiry can be set by seconds, minutes, hours or days. When defining your trade you pick which setting and how many, the shortest being 15 second tick trades and the longest being 365 days. You may not always find an option with the exact expiry you are looking for. I could not find one for 48 hours on the USD/JPY but there was one for 2 days.
Charting is an important aspect of trading and this platform includes the most advanced charts for binary options of any website I have seen. They include 3 types of charts such as downloadable Java Charts. I myself am a big fan of Java Charts and use them myself. Another feature is early closure which is available on most trades.
- extensive asset list
- more types of trading
- lock in profits
- expiry from 15 sec to 364 days
- returns 85%-95%
- difficult to use
- hard to navigate
- Might not Fit experienced traders