Founded in 1999 and formerly known as BetOnMarkets.com, Binary.com is one of the very few binary options brokers that are regulated in multiple jurisdictions. In Ireland, operating under Binary (IOM) Ltd, the platform is licensed and regulated by the Gambling Supervision Commission. In the UK, it is regulated by the UK’s Gaming Commission. Some might find it odd that a binary options trading platform is regulated by a Gaming Commission instead of a financial regulatory agency. This is because in the UK and Ireland, there is no legal framework existing for the regulation of binary options trading activities. Instead, binary options are legally recognized as bets and as such fall under the jurisdiction of the Gaming Commission. Nevertheless, Binary.com is also regulated as a financial services provider in Malta by the Malta Financial Services Authority under the license no. IS/70156.
One of the most noticeable aspects of Binary.com is their trading platform. Rather than using a generic white labeled trading platform, Binary.com has opted instead to develop their own proprietary trading platform. While the trading platform may perform the same function as the white labeled trading platforms, there are some distinctive features of the trading platform which sets it apart. To begin with, the charting package offered by Binary.com platform is more advanced and detailed than any other platform that we have seen so far. Displayed in candlesticks format, traders can use the charts together with other technical trading tools to perform more detailed analysis.
Another main difference about Binary.com’s trading platform is the range of markets covered. With this particular platform, traders can also trade “Random” markets and trade by sectors. This is in addition to the 4 main types of markets namely, forex, commodities, stocks and Indices.
In terms of reliability, Binary.com is one of the most heavily regulated binary options platforms in the industry. No other binary options brokers can boast of the fact that they are regulated by three separate agencies. As for the integrity of their website, Binary.com relies on SSL encryption technology to protect them from unwarranted intrusion.
Scam Ratings: 55/60
Complaints – 10/ 10
One of the most impressive aspects about Binary.com is the fact that there are practically no complaints about this broker on the internet. This is quite a feat when we consider that they have been around for quite a while. Normally in the service based industry, one would expect at least some complaints from disgruntled traders who have lost money while trading.
Bonuses – 5 /10
At the time of writing this review, Binary.com does not have any bonuses or promotional offers available for traders who sign up with them. This is slightly disappointing as one would normally expect binary options broker to offer at least some kind of welcome deposit bonus. On the other hand, it is can be said to be a blessing in disguise since there is no minimum trading volume which a trader has to meet before he is allowed to withdraw any money.
Customer Care – 10 / 10
The customer support services at Binary.com can’t be faulted, as the broker is able to provide quality services around the clock 7 days a week. Access to the support services can be conducted through email, live chat and telephone. In addition to their 24/7 support services, localized support is also provided to traders from more than half a dozen countries.
Price Manipulation – 10/10
From our observations, Binary.com shows no sign of any price manipulation with the pricings of their option contracts.
Security – 10/10
As mentioned earlier, Binary.com uses SSL encryption technology to help it protect the integrity of their website. In addition as a regulated broker, Binary.com abides by strict anti money laundering protocols to prevent any money laundering operations occurring through its platform.
Withdrawals & Deposits 10/10
Binary.com supports one of the most extensive range of payment options for its traders. Apart from accepting all major credit cards and wire transfer, the broker also supports a wide variety of web wallets and online payment modes.
With a total score of 55 out of 60, Binary.com certainly rates as one of BinaryScamSniffer's top binary options brokers. The key point to note about Binary.com is the fact it is a regulated broker in multiple jurisdictions and as such offers peace of mind for anyone signing up with them.