Banc De Binary is an enterprise based in Cyprus that specializes in binary options. It is a privately held investment firm founded in the wake of the financial crisis in 2008. The main focus of the company is to provide the most profitable trading solutions to its customers via its trustworthy online binary options platform on assets such as foreign exchange, stocks and commodities. Banc De Binary currently has 250,000 account holders in more than 800 countries throughout the world. It is considered as an industry leader and offers a rick controlled and secure environment for all its customers.
Trading Offer
Banc De Binary has the most sophisticated virtual binary options trading platforms in the industry. These include digital options pro, long term, 60 second platform and pairs. The broker platform is SpotOption 2.0. Special features of the platform include interactive analysis, candlestick view, and a strategy advisor widget. The binary trading platform enables traders to make decisions in real time from their highly secure accounts.
Trading account types available are Bronze Account $250+, the most popular Silver Account $2,500+ and Gold Account $5,000+. The benefits these accounts get is access to over 190 tradeable assets, daily market reviews and financial research and a two-time access to webinars per month. Additional benefits Gold Account members get are luxury loyalty gifts, a smart money management plan, direct phone line to their account manager, trading signals from Trading Central, education classes, priority access to customer support etc.
The underlying assets Banc De Binary offers include online currencies, stocks, top commodities and popular indices. There are 25 currency pairs available and some of them are AUD/CAD, EUR/JPY, NZD/USD, GRP/CHF and so on. In addition, there are about 40 popular indices such as ASX, Hang Seng Future, France 40 Future, PSI 20, Qatar, VIX, Tel Aviv 25 and many more. Furthermore, in the stocks category traders can find about 100 tradeable stocks and some of them are Yahoo, Facebook, Linkedin, Volvo, Coca Cola, Tesla, Johnson & Johnson, Blackberry etc. Lastly, some top commodities are Gold, Coffee and Corn.
Furthermore, the minimum trade size is $1 min investment, while the maximum trade size is $8,000. Scalping at Banc De Binary is not allowed. ETFs and CFDs are not currently supported. Lastly, the company’s main risk arises from the fluctuations in foreign exchange, therefore, in order to minimize the chances of occurrence of risk, it follows mitigation strategies such as Stop Loss (limits on trading), active hedging strategy and margin calls.
Spreads, Fees, Margins
The spread may sometimes be different from the price Banc De Binary offers compared to traders’ charts. Here traders should remember that the company offers them a trade at their terms and they can choose whether to accept it or not. It is transparent even though there might be difference between the offer and the charts. Furthermore, the company doesn’t change any fees for transactions or opening an account. However, it charges an annual $25 fee for maintaining inactive accounts. Other fees it changes are a renewal or rolling fee for extending a day trading position to the next day as well as a 10% handling fee in cases of severe breach of its terms of use. Lastly, when traders trade Forex and foreign currencies, they use margins which usually range between 1:200 and 1:500. There are no margins in binary options trading.
Bonus Information
Banc De Binary welcomes all new customers with trading sign up bonuses that range between 50% and 100%. For example, if you deposit $250, you will get a 100% match bonus or an extra $250 free to trade with. In other words, the company matches your initial deposit by a certain percentage in accordance to the value of your first deposit. The sign up bonus is an excellent way to boost your initial bankroll with free bonus cash. However, this bonus is subject to a 20x wagering requirement (both the bonus and deposit amount). To claim the training welcome bonus, you don’t have to enter any special bonus code. The bonus is claimed at the cashier. If you have any questions about the bonus value, the minimum qualifying deposit amount and wagering restrictions, contact the customer support service. Micro accounts are not subject to trading sign up bonuses.
After they claim the trading sign up bonus, traders can also claim several other bonus opportunities to boost their money balance. For example, they can claim a broker bonus before certain financial events and take advantage of the current market volatility. Furthermore, the holders of VIP accounts can claim a no deposit bonus which is also known as a rebate bonus. This bonus is based on the percentage of the trading volume of customers. The rebate bonus is given on a monthly basis and traders get a percentage of their investments for the month back into their accounts. Last but not least, the company also offers bonuses to customers who will make deposits via certain payment methods such as Wire Transfer, Skrill and others. However, the amount of this bonus can change so always check before making a deposit which deposit method gives you the best bonus.
Website
The website of Banc De Binary is very user friendly and easy to navigate. Everything is nicely arranged and you can find all you need in a few clicks. If you have difficulty or an instant question, you can use the useful search feature on the down left hand side of the website. Furthermore, to be able to access and use the binary option platform of the company, you don’t need to download any special software. As long as you are connected to the Internet via your PC, laptop, tablet or mobile device, you can access Banc De Binary and start trading. The site is browser based and uses Java technology. In addition, trading is smooth and the site has fast loading time.
The company also offers a trading app designed for trading on the go on smart phones and tablets. It is fully functional, provides instant access to your account as well as live charts of various underlying assets and it gives 24/7 access to breaking news. On Banc De Binary website there is also an in depth educational center where beginners can watch binary option videos, read e-books and learn more from platform tutorials. The company is also present in social media and maintains a useful blog that publishes important content. Demo account is also available and it is an excellent way for new traders to start binary option trading without the risk of losing their own money.
Additional offers from Banc De Binary include trending news and trading singles as well as an economic calendar. On the calendar traders can see upcoming events by date, their importance and forecast. Last but not least, on the website traders can find press releases from the company and customer testimonials.
Banking and Payment Options
The following are the payment options available: Bank Wire Transfer, major credit cards, third party credit cards, Skrill and alternative payment methods such as POLi, Moneta, QIWI and WebMoney among others which are restricted by country. Deposits are instantly processed and the money should be immediately available into your account. Deposits by Bank Wire Transfer, however, take 5 days to complete. This method is excellent for deposits of over $50,000. The minimum amount to start trading is $250.
Withdrawal transactions, on the other hand, take up to 5 days to process. Cashouts via credit card are usually complete within 2 or 3 working days, Bank Wire cashouts take 5 business days, while Skrill cashouts are completed within 60 minutes. Banc De Binary doesn’t charge for withdrawal requests. The min qualifying cashout amount is $100 per transaction. When requesting a withdrawal, customers must prove that they are the real account holders and provide the needed documents. These include a copy of an ID (front and back), a copy of a utility bill no older than six months and a copy of a credit card showing name, expiry date, last four numbers on the front and the signature on the back of the card.
Additional Details of the Broker/Company
Banc De Binary provides around the clock help and support to all its customers. The representatives from the customer support service can be reached via live chat, e-mail and phone number. On the left hand side at the bottom of the website, traders can find the live chat feature. There are two live chat options- for general inquiries and for reporting urgent matters for review by management. In addition, if they click on the Phone Book option, the site will list contact telephone numbers by country and traders can scroll down to find their local phone number.
In Europe, the company is operated by the Cyprus based Banc De Binary Limited which is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license no. 188/13. Moreover, in accordance with MiFID, the company is present into almost all member states of the EEA. Banc De Binary also protects the customers’ privacy and transactions and is EV SSL verified. Its partnership with MaxMind, makes sure that all payments are legitimate. The company also uses the services provided by PCI which safeguards the security of money transactions and assists compliance efforts.
Banc De Binary is an award winning world finance company founded in the beginning of 2009. The company is considered the global leader in binary options trading and it is the largest binary options brokerage in the world. It offers 200 tradable assets such as stocks, commodities and currencies from more than 30 different countries throughout the world. To achieve its goals and provide the best service, the company has partnered with other companies. For example, via BDB Services Limited, it can operate outside of the European Union. Several awards it has won include ‘Platform of the Year’, ‘FBO- Best Broker 2015’ and ‘Best Customer Service’ by FX Empire.
Conclusion/Experiences/Comparison
All in all, Banc De Binary seems to be a professional company that deals with online binary options. It offers an excellent range of stable platforms and with the Option Builder traders are in complete control of their trading. The choice of assets is also excellent. The company also offers a superb trading app enabling customers to trade on the go and provides help and assistance 24/7. Compared to its main competitor, 24Option, the later company has greater trading competitions on a monthly basis but Banc De Binary also has many positive aspects as referred to in this article. Therefore, it is highly recommended.