A Review of Banc de Binary

Banc De Binary is a broker located in Mesa Yeitonia, Limassol, Cyprus. This broker offers traders the opportunity of trading digital option contracts using the SpotOption white-label trading platform and making money as a result.

Regulation

Banc De Binary is one of the digital options brokers regulated by the Cyprus Securities and Exchange Commission (CySEC) with license no. 188/13. It is also regulated by other regulatory authorities as the FCA, FSB and other EEA options licensing bodies that regulate brokers. A review shows that Banc de Binary, just like many Cyprus-based brokers, does not have option regulatory status in the United States, effectively preventing US citizens from trading and making money on this option broker’s platform.

Payouts and Bonuses

Most options trades carry a payout of between 70% and 85%. Digital options trades covered by this option broker’s payout structure include the 60 seconds options, the Call/Put option and OptionBuilder. However, the Binary Meta option allows traders to close trades prior to expiration and if this facility is used by the trader, the broker will pay out less than what was originally obtainable.

The only other digital options trade type with this broker is the High Yield Touch trade, which allows traders to make money equivalent to 500% of the invested amount.

Bonus Awards and Promotions

Our review shows that unlike before, bonus awards are now the norm with binary options brokers and Banc de Binary is no exception. The following bonus awards are given out:

  • 50% of the first deposit is given as bonus to new entrants. However, account managers can negotiate with clients on the actual bonus given. Thus a trader can even get up to 100% bonus on the account after negotiation. The 100% free trading money is also awarded straight away to Standard and VIP-level account holders.
  • Clients with an existing broker trading account get special seasonal bonuses such as Independence Day bonus, Christmas bonuses, etc.

Asset Index

Banc de Binary offers the opportunity to make money on forex digital options as well as other assets in the market. There are 12 forex assets, 6 commodities and many stocks available for trading. Forex assets are very popular and it will be good to see more currencies added.

Trading Tools

  • Trading with a live account on Banc de Binary grants access to $50,000 virtual money. Many brokers in this market do not provide demo accounts.
  • BDB Radio is the technical analysis online radio station. It is accessible from a link on the website.
  • Audio and PDF ebook on what digital options trading is all about is another option for traders willing to learn more about the digital option marketplace before taking the plunge.
  • Banc de Binary’s iTrading mobile platform for the iPhone.

Transaction Methods

Bank wires, credit cards, Moneybookers and AlertPay are the transaction methods of choice. The minimum account money deposit is $500 irrespective of the method used. There are no charges on withdrawals with this platform. A review shows that this is Banc de Binary is one of the few brokers that do not charge money for withdrawals on their platform.

Customer Support

Customer support information is available on the Banc de Binary website and includes a live chat facility on the platform. An email, phone number (1-800-656-6163), Skype contact and a Call Back facility are also available.

Risk warning: Trading binary options, CFD or other leveraged products carries a high degree of risk. Be aware that you can lose even more than the capital you invested. Only trade with money that you can afford to lose. This site is purely informational and cannot replace getting professional advice before trading for real money.