Binary.com Reviews 2024: Features, Cost & Alternatives

Deriv, formerly known as Binary.com, is an online trading service provider with a proven track record dating back to 1999. The company is regulated by multiple entities, including the Malta Financial Services Authority and the British Virgin Islands Financial Services Commission, and ensures client money protection by segregating all customer funds in secure financial institutions. 

Deriv encourages responsible trading and offers support through its 24/7 live chat, help center, and community of traders. The company prioritizes its customers’ safety by implementing best-in-class security measures such as SSL encryption. Deriv also provides unlimited virtual funds for customers to practice with no risk or hidden fees, full access to all markets and trading platforms, and a sign-up process that requires only an email address and no credit card or minimum deposit.

According to the Binary.com home page, you can trade Forex, Crypto, CFD’s, Metals, and Look backs

Binary.com Advantages

Take a look at how Binary.com stands from the rest:

Small Minimum Deposit

One of the advantages of Binary.com is its small minimum deposit requirement. Unlike most binary options brokers, which require a minimum deposit of $250 to open a live trading account, with just $5, traders can open a real-money account and start trading on binary.com review This low barrier to entry makes Binary.com accessible to traders with limited funds or those who are just starting out in trading. Despite the small depoUnlike most binary options brokers, which require a minimum deposit of $250 to open a live trading account,sit amount, Binary.com still offers a range of trading tools and resources to help traders make informed trading decisions.

No Hidden Fees

All costs associated with trading are clearly stated on the website, and there are no surprises with binary.com. This helps traders to plan and manage their trading expenses more effectively and to avoid unexpected charges. Binary.com prides itself on transparency and honesty, and this is reflected in its fee structure.

Multi-Regulated Company

Binary.com is a multi-regulated company that holds licenses and operates under the oversight of multiple financial regulatory bodies around the world, including the MFSA, the Vanuatu Financial Services Commission (VFSC), the Isle of Man Gambling Supervision Commission, the UK Gambling Commission, and the Labuan Financial Services Authority in Malaysia.

The company adheres to strict regulatory guidelines and maintains segregated client accounts to ensure that clients’ funds are protected. The multi-regulated status of Binary.com is a testament to its commitment to transparency and responsible trading practices, making it a trusted and reliable platform for clients globally.

Demo Account

Binary.com offers a free demo account that allows traders to practice with virtual funds before risking their own money. The demo account is an excellent way for beginners to learn about trading and test different trading strategies without any financial risk. 

Additionally, advanced traders can use the demo account to test new trading ideas and approaches before implementing them in the live market. The demo account has no expiration date, which means traders can continue using it to hone their skills and strategies indefinitely.

Binary.com Trading Platform Accounts

Binary.com offers a range of trading platform accounts to cater to the needs of different types of traders. Each account has its own unique features and benefits, allowing traders to choose the one that best suits their trading style and preferences. In this section, we’ll take a closer look at each of the available trading platform accounts offered by Binary.com.

Binary.com Accounts

Binary.com Standard Account

The Standard Account is one of the five account types available on Deriv.com (formerly known as Binary.com). It is the most basic account type and is suitable for beginners or traders who want to start with a smaller deposit. The minimum deposit for this free account, however is $5, making it accessible to traders who are just starting out.

With a Standard Account, traders have access to a range of trading instruments, including forex, commodities, and CFDs. However, the leverage available on this account is limited to 1:100, which is lower than what is available on some of the other brokers account types. Additionally, the Standard Account does not offer any advanced trading tools or features, such as custom indicators or expert advisors.

Regarding automatic trading fees, the Standard Account has a commission-free trading structure. However, spreads on this account and other platforms of type can be wider than on other account types, which can result in higher trading costs. There are also fees for withdrawals, which vary depending on the payment method used.

Binary.com Deriv MT5 Account

Deriv MT5 account allows traders to access multiple asset classes, including forex, stocks & indices, cryptocurrencies, commodities, and derived products all in one place. This platform offers a range of innovative trade types and is suitable for both novice and experienced traders.

With a quick and easy sign-up process for a demo account preloaded with unlimited virtual funds, traders can practice and get a feel for the platform before moving to a real money account. Deriv MT5 is available on desktop, web browser, and mobile app (for both Android and iOS devices), and it allows traders to trade round-the-clock, even on weekends, with their proprietary derived.  

Binary.com Deriv X Account

The Deriv X account is a customisable multi-asset platform offered by Binary.com. With for trading CFDs, on the forex market, commodities, stocks & indices, cryptocurrencies, and derived, Deriv X offers a versatile trading experience that lets you customise your trading environment. The platform is built to fit your trading style and is packed with features that make it a promising alternative to the MT5 platform.

One of the main advantages of Deriv X is the ability to trade on multiple markets simultaneously, with 24/7 trading available for cryptocurrencies volatility indices and synthetic indices even on weekends and holidays. The platform also offers an intuitive dashboard, journal, and custom watchlists to keep track of your progress and favourite assets.

In terms of fees, the deposit minimum for the Deriv X account is included, just like with the Deriv MT5 account mentioned earlier. However, the account offers more customisation options, and the fees for live trading account may vary depending on the specific assets you trade.

Binary.com DTrader Account

DTrader, offered by Binary.com, is a user-friendly trading platform with a variety of tools and features that appeal to both beginner and experienced traders with an advanced account. With over 50 assets available for trading across the forex markets, stock indices, commodities, cryptocurrencies, and Deriv’s synthetic indices, you can select the market and asset that aligns with your trading strategy. DTrader offers two trade types – options and multipliers – that don’t require buying the underlying asset, giving you the freedom to trade according to your preferences. The platform’s technical analysis tools and risk management features also enable you to refine your trading strategy and manage your risks effectively.

DTrader’s well-spaced layout and intuitive navigation system make it easy to use, even for novice traders. With a minimum stake as low as 0.35 USD and contract durations as short as 1 second, the platform is accessible to traders with varying levels of experience and capital. You can also test all the features on DTrader with a demo account loaded with 10,000 USD virtual money that you can create a free account can use to trade instead of using your own funds. It’s worth noting, however, that some trading conditions and underlying assets may not be available for clients residing in certain regions.

Binary.com Deriv Go Account

Binary.com’s Deriv Go Account is an excellent mobile app for trading multipliers on the go. With this app, users can easily trade on forex, synthetic indices, and cryptocurrencies, maximizing their potential profit without risking more than their stake. The app’s user-friendly features allow for a smooth trading experience with easy-to-use charts and a pleasant dark theme. Deriv GO offers 24/7 trading, with synthetics and cryptocurrencies available round the clock and forex trading during regular market hours.

One of the unique features of Deriv GO is the ability to amplify profits up to 1000x without losing more than the trade amount with multipliers. This feature enables traders to multiply their profits while also limiting their losses. Additionally, traders can customize their contracts to suit their risk appetite using innovative features like stop loss, take profit, and deal cancellation, allowing for better risk management.

Binary.com Quick Overview

4.75 stars

Best Overall Value

• Lowest possible deposit
• Convenient withdrawal and payment methods
• DBot website extra features

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Binary.com Customer Reviews

Here are some Binary.com reviews from their customers:

I chose this broker because many people know it positively and the availability of multiple regulators allows you not to worry. Initially, I was prepared for high risks, as I was going to trade options. I have been receiving a profit. Although within six months of cooperation with the company, the terminal has shut down a couple of times. They have not delayed my withdrawals. Now I’ve decided to move away from manual trading a little and switch to robots. Let’s see how it goes.

Benjamin

I’m a novice at binary options. I chose this broker because of advice from friends. At first, when I saw that the company did not have a cent account, I was upset. But, in principle, you can start trading with minimal risks: there must be at least five dollars in your account. About the bidding: I tried it, but lost it quickly. I don’t think Binary is to blame, rather my lack of experience. But when I wanted to contact support, I waited for a long time. They answered 4 hours later. Within that time I had figured out everything myself.

Jack

The broker offers good trading conditions, is regulated, and withdraws funds quickly. I also liked the variety of toolkit. I trade options using robots. I have recently started trading cryptocurrency. I worried that the terminal would freeze and not for nothing. Because of this, almost guaranteed profitable trades flew away a couple of times. I decided to continue cooperation for now, and then we’ll see.

Leon

Binary.com Review

If you’re interested in trading binary options, Binary.com is a reputable and reliable platform to consider. With over 20 years of experience in the industry, Binary.com offers a user-friendly platform for both novice and experienced traders.

Is This Brand Right For You?

If you’re interested in trading options, Binary.com could be the right platform for you. It is regulated by the Malta Financial Services Authority, which ensures that it adheres to strict regulatory standards. Additionally, Binary.com offers a range of account types to suit different trading needs, including demo accounts for beginners and live trading accounts for experienced traders.

Cost Value 

Binary.com is one of the most cost-effective binary options brokers available that is designed for you to not only lose money or hurt your bank account as it has a Negative balance protection option. With a minimum deposit of only 0/1-3. It also offers several account types; you can create free account including a demo account, to help you find the right binary broker trading account to meet your needs. Please note that there is “no deposit bonus” which means it is mandatory to make a deposit.

Customer Service

Binary.com has a dedicated customer service team that is available 24/7 to assist traders with any questions or issues they may have. Binary.com Customer Support Binary.com has translated their website into a dozen different languages. They can be contacted through a variety of channels, including live chat, email, and phone.

Ease of Use

Binary.com is easy to use, even for beginners. The platform has a simple interface that allows users to trade binary options easily. Additionally, Binary.com offers a range of educational resources, including webinars, tutorials, and videos, to help users learn more about binary options trading and improve their skills.

Included Features

Binary.com offers a variety of features for trading options, including a range of trading instruments and trading risks. They also provide access to a range of educational materials and resources to help traders improve their skills.

Overall

Binary.com is a reliable and trustworthy platform and one of the best binary options broker. With a range of account types, including a virtual account, and a variety of features and educational resources, Binary.com is an excellent choice for both novice and experienced binary options traders.

However, always remember that you should never invest money that you cannot afford to lose, and never trade with borrowed money. Before trading in the complex products offered, please be sure to understand the risks involved.

2 Top Binary.com Alternatives

Quotex  

Quotex is a binary options platform that provides traders with a simple and intuitive interface, allowing them to quickly and easily trade binary options. The platform offers a variety of different financial instruments used to trade, including forex, commodities, and stocks. One of the main advantages of Quotex is its low minimum deposit of just $10, making it accessible to traders of all levels.

Pocket Option  

Pocket Option is another popular platform that offers a wide range of trading instruments, including stocks, currencies, and commodities. The platform is known for its user-friendly interface and innovative features, such as social trading and built-in technical analysis tools. With a minimum deposit of just $10, Pocket Option is an affordable option for traders of all levels.

Conclusion

Deriv.com, formerly known as Binary.com, is a well-established online platform that provides a wide range of trading instruments and account types to cater to the needs of different types of traders. The company is regulated by multiple financial regulatory bodies and maintains strict client money protection policies, making it a trusted and reliable trading platform globally. 

One of the advantages of Deriv.com is its low minimum deposit requirement, making it accessible to traders with limited funds or those who are just starting out in trading. Additionally, the company offers a virtual account with unlimited virtual funds to practice before risking real money, as well as a range of trading tools and resources to help traders make informed trading decisions. 

Deriv.com also prioritizes its customers’ safety by implementing best-in-class security measures and offering support through its 24/7 live chat, help center, and community of traders. 

Overall, Binary.com is a great platform for both novice and experienced traders looking for a reliable and transparent platform.

Frequently Asked Questions (FAQs)