Once in a while, there’s always one binary options broker that catches the eyes of traders, Banc de Binary without a doubt is one such option. Unfortunately, this may not be evident to those starting out with their trades, only leaving the best opportunities to the experienced traders. For that reason, we decided to come up with this exhaustive review, which is going to highlight most important aspects of Banc de Binary that’ll make you want to place your trades with it and earn money from the comfort of your seat.
Banc de Binary at a glance
With a Cyprus jurisdiction, Banc de Binary is one of the best binary options brokers ever existed, having been established back in 2009. It’s a company that has won multiple awards and is also World Finance listed. It is actually the first binary broker to be regulated and has a customer base in more than 80 countries globally, known for their trustworthiness in binary options trading.
Such a reputation doesn’t come so easily, especially when the market is flooded with other binary options brokers. Our review only came in to confirm that its outstanding reputation is actually what it is.
Banc de Binary Ltd owns this trading website. The company is regulated by Cyprus Securities and Exchange Commission (CySEC) under the 188/3 license since 7th January 2013. The company is based in Limassol, Cyprus. It’s also registered with Financial Conduct Authority as well as many other major regulatory bodies in the countries they offer their trading services.
Some of its key features?
Banc de Binary actually has an endless list of key features. To highlight every detail about its key features will need a whole article, but this review will briefly cover the most important ones while you’ll get to know the others in the course of time.
One of the most important features brought to the table by this binary option broker is user experience. Since its establishment in 2009, their website has been improving constantly to enhance the experience of investors. The website has a whole lot of features and learning tools that will make any trader feel comfortable.
The fact that it’s licensed is enough to assure you that they are operating within the highest standards of binary options industry. Currently, traders from the US cannot place their trades with Banc de Binary because their license prohibits it.
Any investor who appreciate a generous bonus on their first trade will surely feel relieved with this broker. You are given a welcome bonus of 100% for an initial deposit of $250 as minimum, up to $10,000. This bonus structure is very generous, especially if you compare it to that from other brokers. The bonus amounts are directly deposited into your account. For instance, if you have a $500 deposit, you will be instantly granted $1,000 in your account.
This comes as an advantageous treat especially for the rookie investors as it gives them an instant opportunity to double their investments. However, just like most other sites offering bonuses, there are always formal terms associated with the bonuses. That is, you need to trade some particular amount of money to withdraw the bonus amount. You can get other requirements by simply contacting their customer support.
There’s a good reason why Banc de Binary is listed as one of the best binary option trading company. This is because it offers an extensive account coverage for different needs of traders. Banc de Binary has 6 types of accounts, including:
- Bronze – The Bronze account offer plenty of tradable assets, up to 190. You will be in this account status so long as your deposit amount is within $250 to $2,499. Under this account, you’ll enjoy financial research and market reviews on a daily basis as well as access to webinars two times a month.
- Silver – a minimum deposit amount of $2,500 and a maximum of $4,499 is required. You’ll receive trading alerts, loyalty store gifts, direct line to the account manager for a period of 10 days plus trading signals from the Trading Central for a period of 1 month. .
- Gold – a deposit amount ranging between $5,000 and $9,999 is required. This includes the benefits of Bronze and Silver accounts plus several others, including risk-free trading, private introductory session with trading analyst and smart money management plan
- Lion Premium – this account includes aforementioned benefits of the other accounts plus others. The Lion Premium account basically has two sub-types, that is, Premium and Platinum, making a total of six accounts. The deposit amount for the Premium account ranges between $10,000 and $24,499. It features expedited withdrawals and first access to option contracts.
As for the Platinum account, deposit ranges between $24,999 and $99,999. You get to enjoy exclusive invites to VIP events, access to the Premium trade room, and all aforementioned benefits.
- Exclusive – As for the Exclusive account, it is an invitation type, in that, you are given an opportunity to join it if you have a deposit amount exceeding $99,999. This account features all the benefits of the other account types.
In addition, there’s also a demo account suitable for novice traders. The demo account offers a risk-free means of understanding how the Banc de Binary’s platform works. Once you’ve gained the confidence and skills in binary option trading, it will be easier for you to make a smooth transition into the real trading platform. We recommend that you make use of the demo account for more than a day before starting to trade in real assets and money.
If you are a Muslim trader, Banc de Binary also offers an Islamic account that adheres to all the rules of Sharia Law. The accounts are free from interests and has everything put in detail about the Islamic faith.
Payout and profits
When profits and payouts are in question, Banc de Binary provides benefits that are among the best. The payout ranges from 60% to 90%. The upper limit for the payouts is 91%, something that is definitely difficult to come across with most brokers. On average the payout is usually above 75% and can go up to 80%.
In addition, Banc de Binary has an “early close” offer for traders so as to reduce their losses if they happen to make a bad trade which doesn’t seem to win at the end. The early close feature makes it possible for you to close your trade before your expiry time comes to an end. If appropriately used, the feature can help a trader so they don’t lose all the trade.
What’s the minimum deposit amount?
Currently, Banc de Binary requires a minimum deposit of $250. There’s a good reason for this minimum deposit amount: you get a 100% bonus amount for your deposit. If the deposit amount is lowered, it wouldn’t be possible to receive a hefty bonus that can help you trade.
Trading with Banc de Binary
Banc de Binary offers one of the biggest asset selection in the industry. It features tradable assets amounting to 190 in number. Additionally, there are 100 stock options to choose from.
In terms of currency pairs, there are about 30, including most commonly used currencies such as EUR/USD, JPY/NZD and GBP/CAD among many others.
There’s also about 30 various indices from major stock markets on the planet, including S&P Futures, NASDAQ, IBEX and NIKKEI 225 just to mention a few.
What are the option types and the expiry times?
Banc de Binary makes use of SpotOption as a trading platform. The fact that SpotOption is a popular platform used by most brokers is enough to prove that it’s an intuitive platform. Through this platform, they provide regular pairs, options, long and short term options.
The expiry times have a wide spectrum. Regular options have a duration as short as several minutes to as long as the remaining period of the day. As for the Sixty Second options, there are 30 seconds, 60 seconds and 120 seconds. The advantage with the long term expiry time options is that it can last as short as a day up to several months, actually 15 months. That’s something that you don’t get with other binary options brokers.
However, the site does not have One Touch or Ladder options, which can be a little hitch for a website that is superb in every other aspect. Once you have created your account, you can start using it right way once the minimum deposit amount is made.
Is there support material for traders?
Banc de Binary has over a hundred articles regarding binary options trading and related aspects to its traders. Some of the articles offered for beginning traders include:
- Binary options online trading.
- Why you should be a disciplined trader.
- Understanding binary trading.
There is a lot more categories of articles that any other trader will find very useful when trading with this platform. If reading through these materials feel too exhaustive for you, Banc de Binary also has another option: Real Robot. This is an automated binary options robot that can be very helpful for beginners. It performs automatic trading with regard to a set of pre-programmed rules or actions. This solution comes in very handy and allows you trade even when you do not have ready access to a computer or there’s no time for placing trades manually.
Mobile trading platform
If you want to place your trades on the go, Banc de Binary has one of the best trading platforms that supports mobile users. The platform can be accessed via a mobile app for both iOS and Android devices. The app is found in the respective app stores, that is, App Store and the Google Play Store.
Banking options accepted
Banc de Binary provides a lot of banking options for its traders. Some of these include bank wire transfers, credit cards, Skrill, Fast Bank transfer, CashU, Lobanet, Dineromail, POLI, Union Pay, Yandex Money, WebMoney, Todito Cash, Moneta and AstroPay. In addition, several other local methods of payment from around the globe are also supported.
Privacy and Security
This is one of the most trusted and safest broker websites for traders. All investors’ information is secured by EV SSL certificate. They also work with MaxMind, a security company, to prevent fraud and verify deposits. All its methods of processing data are compliant with PCI regulations.
- It offers great deposit bonuses, up to 100%.
- Offers plenty of options.
- The payouts are excellent.
- The trading platform is very intuitive.
- The minimum investment amounts are minimal.
The only major drawback of Banc de Binary is that it’s not available to the US investors. It also doesn’t have a One Touch or Ladder options included. Otherwise it’s a great brokerage site for serious traders.
There’s only one word to better describe Banc de Binary: impressive. The broker deserves an enthusiastic thumb up for the way that their website is put together. It’s a great website for any trader who is after a great overall trading experience.