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Do you want to know which is the better broker between FOREX.com and Binary.com ?
In the table below, you can compare the features of FOREX.com , Binary.com side by side to determine the best fit for your needs.
EURUSD: -0.1
XAUUSD: 0.1
Long: -1.32
Short: -0.49
Long: -5.4
Short: -0.68
You can determine the reliability and credibility of a broker by checking four factors:
1.Forex broker introduction。
2.Are the transaction costs and expenses of forex-com, binary-com lower?
3.Which broker is safer?
4.Which broker provides better trading platform?
Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:
Forex.com is a major player in forex trading, providing various options including currencies, commodities, indices, and cryptocurrencies. Their platforms, like the popular MetaTrader 4, are available worldwide to meet different trader preferences. Backed by robust regulation and a strong focus on security, Forex.com is a favored choice for professionals looking for an all-encompassing trading experience. Now, let's delve deeper to verify if Forex.com lives up to its reputation.
Quick Forex.com Review in 10 Key Points | |
Registered in | USA |
Regulated by | FCA (UK), IIROC (Canada), NFA(USA), ASIC (Australia), and CySEC (Cyprus), MAS ( Singapore), CIMA ( Cayman Islands) |
Year(s) of incorporation | More than 20 years |
Market instruments | currency pairs, precious metals, energies, indices, bonds, cryptocurrencies and equities |
Minimum initial deposit | $100 |
Maximum leverage | Variant |
Minimum spread | Floating |
Trading platform | Forex.com and MT5 |
Deposit and withdrawal methods | credit card (Visa, Mastercard, Maestro), bank wire transfer, Skrill and Neteller |
Customer Service | E-mail address/live chat |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
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Forex.com is one of the most respected and trusted forex brokers in the foreign exchange trading industry. Founded in 2001, Forex.com is a global company licensed and regulated by several reputable regulatory authorities, including ASIC in Australia, FCA in the United Kingdom, FSA in Japan, NFA in the United States, IIROC in Canada, CIMA in the Cayman Islands and MAS in Singapore. These regulators are known for their strict compliance and oversight requirements, which means that Forex.com is required to meet high ethical and operational standards to protect its clients and ensure the safety of their funds.
In the following article, we will analyze the characteristics of this broker in all its dimensions, offering you easy and well-organized information. If you are interested, read on.
Pros | Cons |
Offers tighter spreads | Acts as counterparty in the operations of its customers |
Guarantees the execution of operations under normal market conditions. | There may be conflicts of interest |
Can offer a greater amount of liquidity and depth in the marketplace | Traders do not have direct access to the interbank market. |
Offers an easy to use and customizable trading platform | Traders may prefer ECN or STP brokers. |
Forex.com is a worldwide forex broker offering online trading services in multiple markets, including forex, indices, commodities, cryptocurrencies and stocks.
Forex.com is a Market Maker broker, which means that it acts as a counterparty to its clients' trades, rather than sending trades to the interbank market. As such, Forex.com can offer tighter spreads and guarantee execution of trades under normal market conditions. However, some traders may prefer ECN or STP brokers, which send trades directly to the interbank market and do not act as a counterparty to their clients.
Yes, Forex.com operates legally. Forex.com, a globally recognized broker, is part of an international holding company regulated by reputable authorities worldwide, including the FCA (UK), IIROC (Canada), NFA(USA), ASIC (Australia), and CySEC (Cyprus), MAS ( Singapore), CIMA ( Cayman Islands).
Regulated Country | Regulated Authority | Regulated Entity | License Type | License Number |
ASIC | STONEX FINANCIAL PTY LTD | Market Making(MM) | 345646 | |
FCA | Gain Capital UK Limited | Market Making(MM) | 113942 | |
FSA | GAIN Capital Japan Co., Ltd | Retail Forex License | 関東財務局長(金商)第291号 | |
NFA | GAIN CAPITAL GROUP LLC | Market Making(MM) | 0339826 | |
IIROC | GAIN Capital - FOREX.com Canada Ltd. | Market Making(MM) | Unreleased | |
CIMA | GAIN Global Markets, Inc | Market Making(MM) | 25033 | |
MAS | STONEX FINANCIAL PTE. LTD. | Retail Forex License | Unreleased |
Forex.com's Australian entity, STONEX FINANCIAL PTY LTD, regulated by the ASIC in Asutralia under regulatory number 345646, holding a license for Market Making(MM).
Forex.com's UK entity, Gain Capital UK Limited, regulated by tier-one regulatory FCA under regulatory number 113942, holding a license for Market Making(MM).
The entity based in Japan, GAIN Capital Japan Co., Ltd, regulated by FCA under regulatory number 関東財務局長(金商)第291号, holding a license for Retail Forex License.
GAIN CAPITAL GROUP LLC, the US entity, regulated by the NFA under regulatory number0339826, holding a license for Market Making(MM).
Candian entity, GAIN Capital - FOREX.com Canada Ltd., is regulated by the IIROC, holding a license for Market Making (MM), with license unreleased.
GAIN Global Markets, Inc, another entity in the Cayman Islands, regulated by CIMA under regulatory number 25033, holding a license for Market Making (MM).
STONEX FINANCIAL PTE. LTD., the entity in Singapore, regulated by the MAS in Singapore, holding a license for retail forex.
Pros | Cons |
It offers a wide variety of trading instruments, allowing traders to find opportunities in different markets. | Offering a wide variety of trading instruments, it can be overwhelming for traders who are new to the market and do not have experience in all available markets. |
Diversification of trading instruments can help traders manage the risk of their portfolios. | Some trading instruments may have higher costs in terms of spreads or commissions, which may reduce the profitability of trades. |
Forex.com offers a variety of market analysis and education tools to help traders make informed decisions about trading instruments. | Traders may find that the variety of trading instruments may be too wide, making it difficult to identify profitable trading opportunities. |
Forex.com offers a wide variety of trading instruments, including currency pairs, precious metals, indices, futures and options, stocks. Traders have a wide range of options to choose from and can find opportunities in a variety of markets.
The minimum deposit amount required to register a Forex.com Standard live trading account is $100 USD, which is quite friendly to most investors.
Here is the table showing the comparison of Forex.com minimum deposit with other brokers:
Broker | Minimum Deposit |
$100 | |
$10 | |
$5 | |
$200 |
Pros | Cons |
Demo account available for risk-free practice | No Islamic account offered for traders who follow Shariah law |
Offers two account types to suit different trading needs | The standard account has wider spreads compared to the MT5 account. |
The standard account is ideal for traders looking for a wide variety of advanced charting tools and a wide selection of markets. | MT5 account can be more complex for beginner traders |
Both accounts offer access to Forex.com's award-winning, technologically advanced and easy-to-use trading platform. | The MT5 account has a more limited selection of markets to trade compared to the standard account. |
Customers can switch between the two accounts at any time to meet their business needs. | The standard account does not offer multi-asset class trading, like the MT5 account. |
Forex.com offers its clients two types of trading accounts: the standard account and the MT5 account. The standard account is ideal for traders looking for a wide range of advanced charting tools with more than 80 technical indicators and a wide selection of markets to trade with competitive spreads starting from 0.8 pips on the EUR/USD currency pair. In addition, this account does not charge commissions on over 300 markets. On the other hand, the MT5 account is ideal for traders looking for up-to-date tools and analysis, multi-asset class trading, expert advisors and custom indicators. Both accounts offer access to Forex.com's award-winning, technologically advanced and easy-to-use trading platform. In addition, clients can switch between the two accounts at any time to suit their trading needs.
Forex.com provides beginners with demo accounts, allowing them to practice in a real trading setting without any financial risks. Demo accounts come with $50,000 in virtual funds and are active for 30 days from the time of registration. Please be aware that once this period ends, you won't be able to access the demo account with the same login details. Notably, each email address can only be used to open one demo account for each type, whether it's on FOREX.com platforms or MetaTrader.
With Forex.com demo accounts, you can enjoy the following features:
$50,000 virtual funds
Demo accounts active for 30 days
Access to 80+ tradable FX pairs, plus gold and silver
Using customizable charts
Here is the simple demo account sign-up process for you to follow:
Step 1: click the “Free Demo Account” button on the “Account” Navigation section;
Step 2: Fill in your full name, email and phone number in the form, and then click “ I'm not a robot” for verification.
Step 3: After a simple registration, you can use the demo account and start trading.
Pros | Cons |
Low spreads on a wide range of instruments | Spreads can be variable and can widen during periods of high volatility. |
Low commissions for stock trading | Forex.com is a Market Maker broker, which means that there may be a conflict of interest. |
Average speed of fast execution | It does not offer trading accounts with variable spreads. |
Very low spreads on the EUR/USD currency pair | Some traders may prefer ECN or STP brokers that send trades directly to the market. |
Low spreads for spot oil trading | |
Low spreads for gold trading |
Forex.com offers competitive spreads and low commissions on a wide range of trading instruments. Spreads for the EUR/USD currency pair start from as low as 0.018 pips, which is very low compared to other brokers. In addition, spreads for the Germany 40 and UK 100 indices start from 1 pip, and commissions for trading stocks start from 0.1%. Traders can also trade spot oil with spreads starting from 0 pips, which can be very attractive for those interested in commodity trading. In addition, the average trade execution speed on Forex.com is 0.04 seconds, which means that traders can expect fast execution of their trades. Finally, spreads for gold start as low as 0.15 cents, which can be very attractive for traders looking to trade the precious metals markets.
Pros | Cons |
Forex.com's MT5 platform is fast and offers a wide range of technical analysis tools and resources. | Some traders may prefer other popular platforms such as MetaTrader 4. |
The MT5 platform can be customized to each trader's preferences. | Traders who prefer a simpler platform may find the Forex.com platform a bit overwhelming. |
The Forex.com platform is easy to use and designed to provide an intuitive trading experience. | The Forex.com platform is not as advanced as MT5 and may not be suitable for more experienced traders looking for more advanced tools. |
Forex.com offers its clients the MT5 trading platform, one of the most popular and advanced trading platforms on the market. MT5 is known for its fast order execution and wide range of technical analysis tools and resources. In addition, traders can customize the platform according to their needs and preferences.
In addition to MT5, Forex.com also offers its own trading platform, the Forex.com platform. This platform is easy to use and is designed to provide an intuitive and customizable trading experience. The Forex.com platform features advanced trading tools, real-time charting and a wide range of technical indicators, making it a good choice for traders of all experience levels.
Margin on Forex.com is a financial requirement that traders must meet in order to maintain their open positions. The margin requirement varies by platform (FOREX.com or MetaTrader), market, asset class and position size. Each instrument on Forex.com has its own margin information that can be found on the market information sheet on the FOREX.com platforms. To calculate the margin required to open a position, simply multiply the total nominal value of the trade (quantity x instrument price) by the margin factor. Traders can use the platform's margin calculator to find out the margin required before opening a position. In addition, Forex.com allows monitoring the margin requirements of each position individually and reviewing the total margin requirement of the account through the Margin Indicator. It is important to remember that the margin requirement may change over time as market prices fluctuate.
Forex.com offers negative balance protection on all of its trading accounts. This means that clients cannot lose more money than they have in their account, providing an additional layer of security and peace of mind in trading. In the event that an extreme market situation occurs and a position moves against the client, Forex.com will automatically close the position before the account balance falls below zero. This protection helps limit risk for clients and is an important feature to consider when choosing a forex broker.
Forex.com offers several payment methods for depositing and withdrawing funds, such as credit card (Visa, Mastercard, Maestro), wire transfer, Skrill and Neteller. Deposits are processed within 24 hours, which means traders can start trading quickly. Withdrawals are also fast, usually taking 1-2 business days to process. It is important to note that Forex.com does not charge any additional fees for deposits or withdrawals, but payment service providers may impose their own fees.
Forex.com offers a wide variety of tools and resources to help traders make informed decisions, including technical analysis, economic calendars, real-time news, free webinars and seminars, and a free demo account to practice and improve trading skills.
Forex.com offers exceptional customer service, with 24-hour support in multiple languages via live chat, email and address. In addition, the broker has an extensive online help center covering topics from account opening to trade execution and risk management. It also offers a news and analysis section, which includes an economic calendar and real-time market news, allowing clients to stay informed and make informed decisions. Overall, Forex.com demonstrates a strong commitment to customer satisfaction and provides all the tools necessary for traders to succeed in their trading experience.
E-mail: support@forex.com
Address: 30 Independence Blvd, Suite 300 (3rd floor), Warren, NJ 07059, USA
In summary, Forex.com is a well-regulated and respected broker with a wide variety of trading instruments and easy-to-use trading platforms. With its solid reputation in the industry and its focus on security and protection of client funds, Forex.com is an attractive option for traders looking for a reliable and secure broker.
Q: Does Forex.com offer a demo account for practice?
A: Yes, Forex.com offers a free demo account for traders who want to practice before trading with real money. The demo account offers full access to the trading platforms and market analysis tools for a limited period of time.
Q: What is the minimum deposit to open an account at Forex.com?
A: The minimum deposit to open a Forex.com account varies depending on the type of account the trader chooses and the trader's location. In some cases, it can be as low as 10 0 dollars.
Q: Does Forex.com charge commissions for trades?
A: Forex.com charges commissions for some trades, such as stock trading. However, it does not charge commissions in most markets. Instead, Forex.com earns profits through the spread between the bid and ask prices of assets.
Q: Does Forex.com have any kind of training or education program for traders?
A: Yes, Forex.com offers a wide variety of educational resources for traders of all levels, including live webinars, seminars, trading guides, articles and educational videos.
Q: What payment methods does Forex.com accept?
A: Forex.com accepts various payment methods, including credit and debit cards, bank transfers, as well as electronic payment systems such as Skrill and Neteller. Processing times and deposit and withdrawal limits may vary depending on the method chosen and the trader's location.
Aspect | Information |
Registered Country/Area | United Kingdom |
Founded year | 5-10 years |
Company Name | Binary.com |
Regulation | Regulated in Malaysia, Offshore Regulatory (Vanuatu) |
Minimum Deposit | $5 |
Maximum Leverage | Dynamic (range from 1:300 to 1:1000) |
Spreads | Not specified |
Trading Platforms | Deriv MT5, Deriv X, Deriv EZ, Deriv GO, SmartTrader, Deriv Trader, Deriv Bot, Binary Bot |
Tradable assets | Forex, CFDs, Derivatives, Stocks & Indices, Cryptocurrencies, Commodities |
Account Types | Real trading and demo trading |
Demo Account | Available |
Islamic Account | Not specified |
Customer Support | Phone (English, German, French), Email |
Payment Methods | Credit/Debit Cards, E-wallets, Online Banking, Cryptocurrencies, Fiat Onramp |
Binary.com is a regulated trading platform based in the United Kingdom and has been in operation for 5-10 years. It operates under a Straight Through Processing (STP) license in Malaysia but has had its retail Forex license revoked in Vanuatu. The broker has a global business presence and is known for its high potential risk. It is important to note that Binary.com's regulatory status is classified as offshore.
Binary.com offers a wide range of market instruments, including Forex, CFDs, derivatives, stocks, indices, cryptocurrencies, and commodities. Traders can participate in various financial markets and take advantage of opportunities in different asset classes. However, it is crucial to be aware of the potential risks associated with trading on this platform, especially given the offshore regulatory status.
The broker provides several trading types, including CFDs, Multipliers, and Options, each offering unique benefits and risks. Traders can choose the trading type that aligns with their strategies and risk tolerance. It is important to note that trading with high leverage amplifies both potential profits and losses, and caution should be exercised when using leverage.
Binary.com offers a range of trading platforms, including Deriv MT5, Deriv X, Deriv EZ, Deriv GO, SmartTrader, Deriv Trader, Deriv Bot, and Binary Bot. These platforms provide different features and functionalities to cater to the diverse needs of traders. However, detailed information about platform fees is not readily available, and traders should consider this aspect before choosing a specific platform.
Overall, traders considering Binary.com should be cautious due to the high potential risk associated with the broker's offshore regulatory status and the reported complaints. It is advisable to thoroughly research and understand the risks involved before engaging in trading activities on this platform.
Binary.com is a regulated broker by the Labuan Financial Services Authority in Malaysia, but its licenses in Vanuatu and the British Virgin Islands are currently revoked, raising concerns about its offshore regulatory status. The broker claims to be regulated by the Financial Services Agency in Japan, but there are suspicions that it may be a clone. WikiFX has reported 21 complaints against Binary.com in the past 3 months, indicating potential risks and scams. On the positive side, Binary.com offers a wide range of market instruments, including forex, CFDs, derivatives, stocks, indices, cryptocurrencies, and commodities, providing traders with diverse trading opportunities. However, high leverage levels can increase the risk of potential losses, and multipliers amplify both gains and losses, which can be risky. Additionally, there is limited information available on expiry dates and the website for licensed institutions. The broker offers various trading platforms, including Deriv MT5, Deriv X, Deriv EZ, Deriv GO, SmartTrader, Deriv Trader, Deriv Bot, and Binary Bot, each with its own features and capabilities. However, some platforms may have limited customization options and lack advanced trading features. Overall, traders should exercise caution and consider the potential risks associated with Binary.com before engaging in trading activities.
Pros | Cons |
Wide range of market instruments | Revoked licenses in Vanuatu and the British Virgin Islands |
Regulated by Labuan Financial Services Authority in Malaysia | Suspicions of being a clone regulator in Japan |
Diverse trading opportunities | 21 complaints reported in the past 3 months |
Regulation claimed in Japan | High leverage levels and multipliers increase risk |
Multiple trading platforms | Limited information on expiry dates and licensed institutions' website |
Binary.com is regulated by the Labuan Financial Services Authority in Malaysia under license number MB/18/0024. It operates as Deriv (FX) Ltd with a Straight Through Processing (STP) license. However, its licenses in Vanuatu and the British Virgin Islands are currently revoked and classified as offshore regulatory. The broker also claims to be regulated by the Financial Services Agency in Japan, but it is suspected to be a clone. WikiFX has reported 21 complaints against Binary.com in the past 3 months, raising concerns about potential risks and scams.
Binary.com offers a diverse range of market instruments for traders, providing them with various opportunities to participate in financial markets.
Forex and CFDs:
Binary.com offers trading in Forex and Contract for Difference (CFDs). CFD trading allows you to speculate on the price movement of an asset without owning the underlying asset. With high leverage, you can trade CFDs by paying only a fraction of the contract's value. This amplifies potential gains but also increases potential losses.
Derivatives:
Derivatives trading allows traders to speculate on the price movements of various financial instruments without owning the underlying assets. It offers flexibility and the opportunity to trade on indices that represent specific markets or sectors. Traders can benefit from the volatility of these instruments and potentially profit from both upward and downward price movements.
Stocks & Indices:
Binary.com allows trading in global stocks of well-known brands and international stock market indices. This provides traders with access to a wide range of stocks and indices at competitive prices, expanding their trading opportunities.
Cryptocurrencies:
Binary.com offers trading in popular cryptocurrencies, taking advantage of the highly liquid cryptocurrency market. Traders can profit from predicting the movement of cryptocurrencies such as Bitcoin, Ethereum, and more.
Commodities:
Binary.com allows trading in commodities such as Metals and Energy. Traders can speculate on the price movements of these assets without owning them, benefiting from high leverage and competitive spreads.
Pros and Cons
Pros | Cons |
Wide range of market instruments available | High leverage can lead to increased risk and potential losses |
Access to global stocks, indices, and cryptocurrencies | Multipliers amplify gains and losses, increasing risk |
CFD trading allows speculation on price movements | Regulatory status in some jurisdictions is revoked or offshore |
Binary.com offers two types of accounts: real trading and demo trading. Real trading accounts are for traders who want to engage in live trading with real money, allowing them to access various financial instruments and participate in global markets. On the other hand, demo trading accounts provide a risk-free environment for traders to practice their strategies and explore the platform using virtual funds.
Binary.com offers three exciting trade types: CFDs, Multipliers, and Options.
CFDs:
Trade CFDs on Binary.com to take advantage of leverage and low spreads, which can result in better returns on successful trades. With high leverage, you can open larger positions with a smaller balance in your trading account. It's important to keep in mind that CFDs are traded on margin, meaning you need a deposit to open a leveraged position. Trading CFDs increases both potential profit and loss, as it amplifies market exposure. Stop loss, stop out, and margin call features are available to manage risk.
Multipliers:
Multipliers on Binary.com combine leverage trading benefits with limited risk. By predicting market movements, you can multiply potential profits when the market moves in your favor. Losses are limited to your stake amount. Customizable features such as stop loss, take profit, and deal cancellation enhance risk management. With increased market exposure, you can trade multipliers 24/7 on forex and synthetics. The platform provides a responsive trading experience, with expert and friendly support available.
Options:
Binary.com offers options trading, which allows you to predict market movements and earn payouts without owning the underlying asset. You can trade digital options that offer fixed payouts based on correct predictions or lookbacks that provide payouts based on the optimum high or low achieved by the market during the contract's duration. Options trading requires minimal capital investment, making it accessible to a wide range of traders.
Pros and Cons
Pros | Cons |
CFDs offer leverage and low spreads | CFDs amplify potential profit and loss |
Multipliers combine leverage and risk | Multipliers have limited losses to stake |
Options allow participation with minimal investment | Options have fixed payouts based on correct predictions |
Trade 24/7 on forex and synthetics | Margin requirements and market exposure |
Risk management features available | Sudden market fluctuations can affect stop loss levels |
Swap rates and overnight funding charges |
To open an account with Binary.com, follow these simple steps:
Visit the Binary.com website and click on the “Create a New Account” button to access the login page.
On the login page, click on the “Sign Up” option to begin the account creation process.
3. Enter your email address in the provided field to initiate the signup process.
4. Review the information regarding the creation of a demo account and confirm your age as 18 or older.
5. By clicking “Create demo account,” you acknowledge that Binary.com may use your email address to send you information about their products, services, and market news. You can unsubscribe from these emails at any time within your account settings.
6. Alternatively, you may have the option to sign up using alternative methods specified on the page.
Binary.com offers different types of leverage depending on various factors. The leverage used at Binary.com is dynamic, with a range from 1:300 to 1:1000. It's important to note that such high leverage levels may not be suitable for inexperienced traders. The use of high leverage carries significant risk, as it amplifies both profits and losses. Traders should exercise caution and consider their risk tolerance before utilizing high leverage ratios.
Binary.com offers flexibility in deposit and withdrawal options. The minimum deposit and withdrawal amounts vary depending on the payment method, with e-wallets allowing as low as 5 to 10 USD/EUR/GBP/AUD. Notably, Binary.com stands out with a minimum deposit requirement of just $5, making it more accessible compared to other brokers that typically require a minimum deposit of $250.
Binary.com offers a wide range of payment and withdrawal methods for its users. The specific fees for deposit and withdrawal are not provided by Binary.com.
Credit/Debit Cards: Binary.com accepts various credit/debit cards such as Visa, Visa Electron, Mastercard, Maestro, Diners Club International, and JCB. The minimum and maximum deposit and withdrawal amounts vary, and instant processing is available for deposits. Withdrawals may take up to 15 working days to reflect on the card, and Mastercard and Maestro withdrawals are limited to UK clients.
E-wallets: E-wallet options supported by Binary.com include Fasapay, Perfect Money, Skrill, Neteller, Webmoney, Paysafecard, Jeton, Sticpay, Airtm, Boleto, Paylivre, Online Naira, Trustly, Astropay, OneForYou, and Advcash. The deposit and withdrawal limits vary for each method, and instant processing is available for deposits. Withdrawal processing time is typically 1 working day, but may vary depending on the specific e-wallet provider.
Online Banking: Binary.com supports instant bank transfers, PayTrust, Help2Pay, ZingPay, and NganLuong for online banking transactions. The minimum and maximum deposit and withdrawal amounts vary for each method. Deposit processing time is usually 1 working day, while withdrawal processing time may vary from 1 to 3 working days.
Cryptocurrencies: Binary.com accepts deposits in cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Usd Coin, and Tether. There is no minimum deposit requirement for cryptocurrencies, and the minimum withdrawal amounts are specified for each cryptocurrency. Deposit processing time is based on confirmation, and withdrawal processing time is subject to internal checks.
Fiat Onramp: Binary.com provides a fiat onramp option where users can buy cryptocurrencies on popular exchanges. The supported methods include Changelly, and Banxa, allowing users to purchase cryptocurrencies with USD, EUR, GBP, AUD, BTC, LTC, USDT, and USDC. The minimum deposit amount and deposit processing time vary depending on the chosen method.
Also, Binary.com offers a Deposit and Withdrawal process with varying minimum amounts depending on the chosen payment method. The minimum deposit and withdrawal amount can range from 5 to 10 USD/EUR/GBP/AUD when using e-wallets. It is important to note that the specific minimum amounts may vary for different payment methods. To obtain comprehensive information about the minimum deposit and withdrawal amounts for each payment method, it is advisable to refer to the Payment Methods page provided by Binary.com.
Pros | Cons |
Wide range of payment and withdrawal methods | Lack of detailed information on fees |
Instant processing for many deposit methods | Longer withdrawal processing times |
Fiat onramp options for crypto purchase | Limited availability of certain withdrawal methods for specific regions |
No minimum deposit requirement for cryptocurrencies | Minimum withdrawal amounts may vary depending on exchange rates |
Multiple fiat currencies available |
Deriv MT5: Deriv MT5 is an all-in-one CFD trading platform that provides access to various asset classes, including forex, stocks & indices, cryptocurrencies, commodities, and derived indices. It offers 24/7 trading and multiple trading assets on a single platform. With its quick demo account sign-up and regulation by a trusted industry pioneer, Deriv MT5 is suitable for both new and experienced traders.
Deriv X: Deriv X is a customisable multi-asset trading platform that allows trading of CFDs on forex, commodities, stocks & indices, cryptocurrencies, and derived indices. It offers a versatile trading experience with features designed to fit individual trading styles. Traders can trade on multiple markets simultaneously, customise their trading environment, and access intuitive tools such as dashboards, custom watchlists, and feature-rich charts.
Deriv EZ: Deriv EZ is a user-friendly CFDs trading platform that offers instant access to a wide variety of assets, including forex, stocks and indices, commodities, cryptocurrencies, and derived indices. It provides a seamless trading experience with no additional account ID or password required. With 24/7 trading availability, Deriv EZ allows traders to easily start trading, trade their favorite assets on a single platform, and access trading tools and indicators for informed decision-making.
Deriv GO: Deriv GO is a mobile app designed for trading multipliers on the go. It offers 24/7 trading of forex, derived indices, and cryptocurrencies. With user-friendly features, easy access to trades, and the ability to amplify profits up to 1000x with multipliers, Deriv GO provides a trading experience for traders who prefer trading on mobile devices.
SmartTrader: SmartTrader is an all-in-one CFD trading platform that offers a wide range of tradable assets, zero commissions, and 24/7 trading. It provides a simple and user-friendly interface for traders to make informed decisions.
Deriv Trader: Deriv Trader is a user-friendly trading platform offered by Binary.com. It allows traders to engage in forex, commodities, cryptocurrencies, and indices markets. The platform offers customizable chart types and trade types, with trade durations and a minimum stake of $0.35. Traders can make informed decisions using technical indicators and widgets. Overall, Deriv Trader provides a simple and versatile trading experience.
Deriv Bot: Deriv Bot is a platform that allows traders to automate their trading ideas without the need for coding. Traders can build their own trading robots using pre-built strategies or create their own from scratch. With a variety of assets to choose from, zero cost to build bots, and performance tracking features, Deriv Bot offers a solution for traders interested in algorithmic trading.
Binary Bot: Binary Bot is a platform that enables traders to automate their trading ideas without coding. It offers a range of assets to create trading bots, including pre-built strategies and the option to build custom strategies visually. Traders can use analysis tools, indicators, and logic such as take profit and stop loss to optimize their bot's performance. Binary Bot allows traders to track the bot's profitability and offers integrated help, tutorials, saving strategies on Google Drive.
Pros | Cons |
Wide range of assets and markets available | Limited information provided about trading platform fees |
User-friendly interfaces and intuitive tools | Limited customization options for some platforms |
24/7 trading availability | Lack of advanced trading features in certain platforms |
Quick demo account sign-up | Limited access to educational resources in some platforms |
Regulated and trusted industry pioneer | Mobile app may have limited functionality compared to web-based platforms |
Margin Calculator:
The margin calculator provided by Binary.com allows traders to estimate the margin required to hold their positions. This calculation takes into account factors such as leverage, volume lot, and the trader's Deriv MT5 account balance. By using the margin calculator, traders can have a better understanding of the margin requirements for their trades.
Swap Calculator:
The swap calculator helps traders calculate the overnight fees associated with holding open positions. These fees can be positive or negative, depending on the swap rate. By using the swap calculator, traders can assess the potential costs or earnings from holding positions overnight, allowing for better risk management.
Pip Calculator:
The pip calculator is a useful tool for determining the value of pips in trades. It helps traders manage their risk by providing insight into the potential profits or losses based on pip movements. This information is valuable for setting appropriate stop-loss and take-profit levels.
PnL for Margin:
The PnL (Profit and Loss) margin calculator helps traders estimate the stop-loss and take-profit levels, as well as the pip value for their contracts. This information assists in mitigating risk when entering buy or sell positions. By using the PnL margin calculator, traders can plan their trades with a better understanding of potential risks and rewards.
PnL Multipliers:
The PnL multipliers calculator is specifically designed for traders using multipliers. It estimates the level and amount of the stop-loss and take-profit orders for contracts, helping traders manage their risk in case the market price moves against their predictions. This tool is particularly useful when trading with leveraged products.
Pros | Cons |
Provides essential tools for risk management | Limited in-depth analysis capabilities |
Helps traders estimate margin requirements | Lacks advanced technical analysis tools |
Facilitates calculating overnight swap fees | Does not offer extensive charting features |
Enables pip value calculation | May not meet the needs of advanced traders |
Assists in setting stop-loss and take-profit levels | Lack of customization options for the tools |
Binary.com offers customer support in various languages, as their website is translated into multiple languages. Traders can contact the support team through live chat, with the necessary details available in the “Contact Us” section of the website. Additionally, Binary.com provides contact information for different regions and countries.
For English support, traders can reach out via the phone number 08000119847. German support is available at +44(0)1666 800042, and French support can be contacted at +44(0)1666 800042. Traders can also connect with Binary.com through email at support@binary.com or via their Facebook page.
Binary.com has multiple offices located worldwide. In Europe, their offices are in the United Kingdom, France, Malta, Cyprus, and Guernsey. In Asia, Binary.com has offices in Malaysia, including Cyberjaya and Labuan, as well as in Ipoh, Melaka, and Singapore. They also have offices in Dubai, Jordan, Belarus, Rwanda, Paraguay, the Cayman Islands in the Caribbean, and Port Vila in Vanuatu.
These various support channels and office locations allow traders to seek assistance and get in touch with Binary.com according to their specific needs and geographical location.
In conclusion, Binary.com is a regulated broker operating under the Labuan Financial Services Authority in Malaysia with a Straight Through Processing (STP) license. However, its licenses in Vanuatu and the British Virgin Islands are currently revoked, raising concerns about its offshore regulatory status. The broker has also been reported for 21 complaints in the past 3 months, indicating potential risks and scams. While Binary.com offers a wide range of market instruments, including forex, CFDs, derivatives, stocks, indices, cryptocurrencies, and commodities, traders should be cautious of the high leverage that can lead to increased risk and potential losses. The platform lacks transparency regarding fees and expiry dates, and there is limited information available about licensed institutions. Overall, it is important for traders to carefully consider the potential disadvantages and risks associated with Binary.com before engaging in trading activities.
Q: Is Binary.com regulated?
A: Yes, Binary.com is regulated by the Labuan Financial Services Authority (LFSA) in Malaysia under license number MB/18/0024. However, its licenses in Vanuatu and the British Virgin Islands are currently revoked and classified as offshore regulatory.
Q: What market instruments does Binary.com offer?
A: Binary.com offers a diverse range of market instruments, including Forex and CFDs, derivatives, stocks & indices, cryptocurrencies, and commodities.
Q: What types of accounts does Binary.com offer?
A: Binary.com offers two types of accounts: real trading accounts for live trading with real money and demo trading accounts for practicing strategies with virtual funds.
Q: What are the trading types offered by Binary.com?
A: Binary.com offers CFDs, Multipliers, and Options trading. CFDs allow leverage trading with low spreads, multipliers combine leverage with limited risk, and options trading allows predictions and earnings without owning the underlying asset.
Q: How can I open an account with Binary.com?
A: To open an account with Binary.com, visit their website, click on “Create a New Account,” and follow the signup process by entering your email address and confirming your age.
Q: What leverage does Binary.com offer?
A: Binary.com offers dynamic leverage ranging from 1:300 to 1:1000, depending on various factors. However, high leverage levels may not be suitable for inexperienced traders, and caution should be exercised.
Q: What is the minimum deposit at Binary.com?
A: The minimum deposit at Binary.com depends on the payment method used and can vary. E-wallets allow as low as 5 to 10 USD/EUR/GBP/AUD, while other methods may have different minimums. Binary.com stands out with a minimum deposit requirement of just $5.
Q: What payment and withdrawal methods does Binary.com offer?
A: Binary.com offers a wide range of payment and withdrawal methods, including credit/debit cards, e-wallets, online banking, cryptocurrencies, and fiat onramp options. The specific fees for deposit and withdrawal are not provided by Binary.com.
Q: What trading platforms are available on Binary.com?
A: Binary.com offers several trading platforms, including Deriv MT5, Deriv X, Deriv EZ, Deriv GO, SmartTrader, Deriv Trader, Deriv Bot, and Binary Bot. Each platform provides different features and trading options.
Q: What trading tools does Binary.com provide?
A: Binary.com provides trading tools such as a margin calculator to estimate margin requirements, a swap calculator to calculate overnight fees, and a pip calculator for precise pip value calculations.
To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).
To get a comprehensive understanding of how cheap or expensive forex-com and binary-com are, we first considered common fees for standard accounts. On forex-com, the average spread for the EUR/USD currency pair is -- pips, while on binary-com the spread is --.
To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.
forex-com is regulated by ASIC,FCA,FSA,NFA,IIROC,MAS. binary-com is regulated by LFSA,VFSC,FSC,FSA.
When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.
forex-com provides trading platform including STP PRO,COMMISSION,Standard and trading variety including 60 currency pairs Gold & silver. binary-com provides trading platform including -- and trading variety including --.