Banc De Binary.com is a trademark owned by Banc De Binary Ltd and is probably one of the oldest and best known binary option providers in the market at the moment, but does big mean the best? Banc De Binary is registered in Cyprus and regulated by the Cyprus Securities Exchange Commission (CySEC) and is also registered with many regulators in various jurisdictions. They operate on the Spotoption platform and offer a wide range of assets and expiry options. Their website is pleasing on the eye, the front page asks for your location and once selected the home page is tailored to your location making it feel a more personal offering. There is the option of a demo account but this is only available for a 24 hour period.
Website and trading platform
Banc de Binary offers a large selection of tradable assets, including commodities, currency pairs, Indices, stocks and pairs. There is also the potential for weekend trading on certain assets owing to geographical markets which they cover. The trading platform is clean, and very intuitive to use and within no time and it feels like you have been using it for ages. People new to binary options may be put off by the minimum deposit of $250 but then Banc de Binary more than make up for it with a minimum trade size of $1 and there is always the option of opening a demo account first. They offer four different accounts depending on the value in your trading account, provide good market commentary, research and they also have a comprehensive education section.
Banc De Binary account offerings
For the basic account you get access to the trading platform and everything you need to get trading as you move up the account ladder you receive what Banc de Binary deem to be added benefits in an account manager but I am unsure if I would trade any recommendations from the company looking for you to deposit money (Only my thoughts as they may be very good) and trading signals again issued by the broker after your money. If you want to use trading signals it’s always best to take them from an independent source and more importantly trial them first.
Like all binary option providers they offer bonuses to new clients on sign up, this added bonus will be added to the amount deposited and the whole amount will be required to be traded a certain number of times. So unless you are a very profitable trader it could prove difficult to withdraw your funds without incurring a handling fee unless this criteria is met.
Taken from Banc De Binary terms and conditions
For illustration purposes please see the following example:
Client deposited $10,000 into his account and received a bonus for $10,000; in accordance with the Company’s Bonus policy, the client is required to reach trade volume of Total Deposit + Total Bonus X 20 = $400,000.
Client reached $300,000 trade volume and is requesting to make a withdrawal from his account prior to reaching his trade turnover.
The Client will first be notified of the Handling Fee calculation with respect to the Client’s request to make a withdrawal of funds.
The calculation will be as follows:
Total sum of deposits (not including bonus) while deducting profits or losses (including assessed losses from positions which had no yet expired)
The Handling Fee obligated of the Client for breach of Bonus agreement:
The maximum Handling Fee rate can incur up to 30%;
Loss assessment as a result of breach of Bonus agreement: 300,000/400,000=0.75
(30%*0.75) -30%=7.5% (maximum handling fee* loss assessment – maximum handling fee)
Handling Fee rate: 7.5%
Handling Fee sum: 10,000*7.5%= $750
The calculation is as follows:
The Client’s total refund will be: Total Deposit minus Client’s losses and minus the sum of $750 Handling Fee.
Any bonus offered is optional and you have to accept the bonus to have it placed on your account to be able to trade with. In most cases it is best to say No, but always read the terms of the bonus being offered first, before making your decision.
On the trading side, their platform is easy to navigate and the operation is very slick, with a comprehensive range of trade types and expiry times. Placing a trade is easy and once a trade is open you can see with a quick glance how it is progressing and with the 60 second trade there is a very hand countdown to expiry feature
For standard binary trade and still just as clear and easy to read, with options on certain assets to sell, double up or to rollover.
The Live chat was quickly replied to, even though it did take a while to find out why the account which had just been set up wouldn’t open they did resolve the issue and they were very concise and polite with their responses and above all the issue was sorted.
Banc De Binary offers a highly attractive product, with a good selection of assets and a wide range of expiry times all on running on a very slick easy to use platform. They have an offering which would appeal to both the novice trader with an easy to navigate platform, comprehensive education section and a low minimum trade and for the more experienced trader with a wide range of expiry options from as low as 30 seconds up to a month or more along with a good maximum trade size. In the past they have had regulatory issues with plenty of comments around on the internet but on the face of it they seem to be moving in the right direction that is assuming nothing comes out the woodwork. They are responsive to questions via live chat and email, giving polite and correct information. The demo account is an ideal way to test run their offering but it is only available for a 24 hour period (unlike MarketsWorld where their demo account has no time limit)
|Broker Name||Banc De Binary|
|Platform Languages||English, German, French, Arabic, Danish, Chinese, Italian, Japanese, Spanish, Portuguese, Romanian, Russian, Spanish, Turkish|
|Support Type||Email, Live Chat, Telephone|
|Support Languages||English, German, French, Arabic, Danish, Chinese, Italian, Japanese, Spanish, Portuguese, Romanian, Russian, Spanish, Turkish|
|Free Demo Account||Yes|
|Minimum Account Size||$250|
|Minimum Trade Amount||$1|
|Maximum trade Amount||$/$/€ 50,000 for High/Low, $10,000 or all other|
|Deposit Options||Credit Cards, MoneyBookers, Wire Transfer, MoneyGram, Liberty Reserve, Western Union, Cash U|
|Withdrawal Options||Credit Cards, MoneyBookers, Wire Transfer, MoneyGram, Liberty Reserve, Western Union, Cash U|
|Tradeable Option Types||High/Low, One Touch, Boundary, 60 Second|
|Option Expiry Times||30 Seconds, 60 Seconds, 120 Seconds, 15 Minutes, 30 Minutes, 1 Hour, 1 Day, 1 month +|
|Number of Assets||78|
|Asset Types||Commodities, Currencies, Indicies, Stocks|
|Number of Currencies||12|
|Number of Commodities||8|
|Number of Indices||20|
|Number of Stocks||38|
|Account Currency Options||Euro, US Dollar, Sterling|
|US Traders Allowed||No|
|Bonus||Varied, includes new client sign up bonus|