Binary.com is one of the top brokers in binary options industry but the main questions remains – is it a scam, is it safe to trade on their platform? What are Binary.com reviews and opinions? During the review process we’re going to closely look at main aspects of the broker so that you could understand if it’s a good choice for trading. We’re going to look at regulations, trading platform, bonus offers, withdrawal options, scam possibilities etc. Keep reading further to find out.
Proven history. The company has been around since 1999 which is the longest history in the binary options market.
Adaptive trading platform. The platform doesn’t limit you to make custom deals. Even though it’s very simple, there are also possibilities to make advanced deals by customising various aspects.
Regulated. Binary Investments is entitled to provide services in another EU Member State throguh EU passporting rights. The company is currently Licensed and regulated in Malta, the United Kingdom, the Isle of Man, Ireland, and Japan.
Free demo account. Registered users can get a free demo account with a virtual cash of $10,000.
Many deposit and withdrawal options. There are more than 15+ possibilities how yo deposit or withdraw your funds.
Free mobile trading app. Very fast and easy to use mobile trading app for most popular mobile devices.
24/7 support. Professional support from the company staff. Currently Binary.com employs more than 90 people.
High payouts. Possibility to get more than 100% profit from a standard High/Low binary option deal.
Low deposit. Traders can open real trading accounts starting from 5 EUR, USD, AUD or GBP. It’s one of the lowest possibilites in the market.
Powerful tools. Powerful charting and technical analysis provided in Binary.com tools.
Currency support. Some of the services available on the platform are not available in all currencies, which may be crucial for traders from various countries.
Country restrictions. Traders from USA, Costa Rica and Hong Kong are not allowed to use the platform.
Advanced trading platform. Newcomers to the industry may feel a bit lost because the platform is feature rich. It’s recommended to begin with a demo account first.
24option’s trading platform is feature rich and well developed platform for binary option traders. Even though the asset list is a bit smaller than some other brokers may have, it’s secure and simple.
The platform has been developed in-house and it helps the company to develop features quicker than other brokers who are using white label solutions. You’ll see that trading platforms like GrandOption.com, YBinary.com and QuickOption.com are going to be very similar. That’s because all of these brands are owned by the same company that operates 24option.com. All of these platforms and brands are regulated by CySEC under licence no. 207/13. It was issued on 11th July 2013.
Trading Platform and Option Types
On 24option trading platform, you can find the following option types: High / Low, Above / Below, Short Term (30 seconds, 1, 2 or 5 minutes), One Touch and Boundary (Click on the option type to learn more).
One Touch and Boundary deals have another trading option where it’s possible to get up to 350% return on trades. These type of trades are called ‘High Yield Touch’ and ‘High Yield Boundary’. These trades are riskier as price ranges are set with a greater reserve and in most cases, it’s less likely that prices are going to reach those levels.
24option Account Types
Basic – the very basic account where you’ll have access to a trading platform, customer service, professional charts and trading tools. Your first withdrawal is going to be free but once you use it, on every next withdrawal you’ll need to pay a commission. The commission depends on a withdrawal method you’re going to use. Most popular: credit card withdrawals 3.5% and wire transfers $30, €25, £20 or ¥3,000 fixed.
Silver – even though it’s a small step up the ladder, with the Silver account you’re getting a very good upgrade already. In addition to what you’re getting with the Basic account, you’re also getting free trading alerts and a personal coach. This is a very good way to begin learning binary options trading seriously.
Gold – Live trading with experts and SMS/Email alerts are very useful if trading is becoming your job. Probably the best financial gain is that you can withdraw once a month without paying a commission and you’re also getting an extra +2% on your payout. Every penny matters!
Platinum & Diamond – Both accounts are made for professional traders. It’s a great solution for those who take trading seriously and are willing to invest large amounts. You’re getting an extra +4% for a Platinum and +6% for a Diamond account payout in comparison to the Basic account. No more fees on withdrawals and lots of other useful features and bonuses.
How to Get a 24option Demo Account?
24option offer demo accounts only to users who have opened a real trading account on their platform. The whole process looks like this:
Make a Deposit
Get an Account
As the company has many branches around the world there’s also a great selection of languages that you can select to make your trading easier and more understandable.
Both most popular platforms are covered and you can find apps for iOS and Android below:
Available Asset List
- British Petroleum PLC
- Barclays PLC
- Deutsche Lufthansa
- Samsung Electronics
- Google Inc.
- Apple Inc.
- Royal Dutch
- BHP Billiton
- Rio Tinto
- Citi Group
- Westpac Banking Corporation
- Coca Cola
- JPMorgan Chase
- BNP Paribas
- Tata Motors Ltd
- Orange France
- Societe Generale
- Dow Jones
- Nasdaq Composite
- IBEX- 35
- S&P 500
- Nikkei 225
- SMI FUTURE
- MIB-40 FUTURE
- ASX 200 Future
- Hang Seng Future
- Bombay 30
- KOSPI 200
- South Africa 40 Future
- RTS Index
- Kuwait Index
- MSM 30
- Qatar Index
- Gold (XAU)
- Silver (XAG)
- Platinum XPT
Is 24option a scam?
Binary options brokers must be regulated by various independent institutions to consider a broker platform safe to use. 24option (Rodeler Limited) is regulated by CySEC (Cyprus Securities and Exchange Commission), licence no. 207/13.
24option.com Domain Owner Information
Information about the domain owner is not available.
First appeared online on the Web
Based on available information, 24option was founded in 2009. As it can be seen above, the website and the platform first appeared online in 2010 (According to the Web Archive information). The company has a solid history and there are no immediate signs of a scam.
Please note, we’ve identified a potential change of a company in May 2013 which is mentioned in the website’s Legal Terms & Conditions. In May 2013 the broker seems to operated under a different company – Cbay Financial Services Limited. Screenshot below:
There are various methods that you can use to withdraw your funds: credit card, wire transfer, or selected online payment system. Please note that depending on your account you may need to pay a commission for your withdrawal. In order to avoid these commissions you need to upgrade your account to ‘Gold‘ (withdraw your funds once a month for free) or ‘Platinum‘ and ‘Diamond‘ (withdraw your funds any time at no cost).
Please note: in order to withdraw funds you’ll need to send your proof of ID, proof of residence and to verify your payment method.
24option Signals or Trading Alerts
Starting from a ‘Gold‘ account you can use 24option trading alerts for free. This is a useful feature if you’re not sitting next to a computer all the time. Trading alerts may warn you about great deals as well as any significant changes about your live trades. These alerts are being sent either to your phone (sms) or email.