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Banc De Binary is a very good place to start for our broker reviews. As the oldest broker in the industry Banc De Binary has a reputation of being head and shoulders above the competition. Let’s see whether this holds true on closer inspection. The starting account you get with Banc De Binary is Micro Silver, this is for initial deposits of $500 – $2500. Above the Micro Silver you have the Standard Gold account for deposits of $2501- $5000. With this one you supposedly get privileged access to their customer service, however it seems like pretty-much the same level of customer service as you get for the Micro Silver account, or indeed if you call up without any account. This feature seems to have recently been removed from under the Standard Gold account so now it would seem the only difference between the silver and gold accounts is that with the Gold you get your initial deposit matched by Banc De Binary. The next step up in accounts is the Personal Broker Reserved account, you qualify for this one by depositing between $5001 and $50,000. The Personal Broker Reserved account earns you exclusive trading signals from their brokers, who you can get in touch with via email or alternatively you can talk to them over the phone or Skype. Banc De Binary’s brokers will help you trade smarter by sharing their expert knowledge of the markets with you as well as helping you hone your risk management strategies. For deposits of over $50,000 the company offers access to their VIP Lions Club which gets you all of the above features as well as access to the company’s market analysts specially reserved trading signals, professional portfolio management and true first in line access to any binary option contracts offered at any time. If you deposit $100,000 or more you also are provided with an exclusive card attached to the balance in your trading account and your own personal assistant to help you with market research, bookings, itineraries, basically anything you need done for you.
A look at their platform:
The front page of their trading platform features the basic Call/Put options for various asset classes throughout the day. This main trading page features three slots where you can load the different asset classes of your preference. This is a terrific feature as it allows you to personalize your trading page to your liking so that it shows the assets you’re interested in working with.
On the right side of each graph you can alter the expiration times for the option in the box. Then, if you select an expiry time and you see the red lock-out box, you will not be able to enter into a new trade on this particular asset because the current one is too close to expiring, lock-out times go from around 15 minutes to as low as 3 minutes, this is dependent on the asset class. So for instance, an option on Euro/USD might be closing in 5 minutes, this will, in-turn, cause it to expire in 8 minutes, with the lock-out time for this particular trade being in three minutes. Three minutes is actually a pretty competitive lock-out time, which gives you a greater deal of control than some of the other brokers do.
Now as far as payouts go, on Banc De Binary’s platform the payouts range between 65% and 91%, again a pretty competitive payout rate. The exact percentage for each option differs and is clearly marked to the right of the graph.
Trade sizes are the minimum and maximum value of an option that a broker will permit you to purchase. Banc De Binary’s trade sizes are categorically the best in the industry, accommodating all varieties of trader, from the greenest beginner to the most experienced big boy with a bankroll to match. Banc De Binary’s trade sizes range from a single dollar all the way up to $9000.
- Option Builder: Banc De Binary also offer some advanced trading features that it’s a good idea to get to grips with if you begin trading with them. One of these is the Option Builder tab. Option Builder essentially allows you to have a greater deal of control over the parameters of your trade. So for instance, you can select an asset you want to trade and then tailor the expiry time to your own needs if you don’t like the look of the preset expiry times. You can also control your risk/management from the Option Builder tab, so if you don’t like the look of some of the higher payouts in the money, you can change to a lower in the money and higher out of the money risk ratio.
- One Touch: You also have access to a One Touch feature on this particular platform. One Touch is only open from 5pm EST every Friday until 5pm EST Sunday. It opens between these times and lets you trade on what are called weekly touch options. Basically this class of options offer you a far higher payout scheme, with payouts of between 200 to 500% back on investment. However the parameters are pretty darn steeply stacked against against you, with a currency having to shift somewhere in the region of 400 pips or a stock by somewhere around $20 dollars a share in order for you to be in the money. Typically we’d suggest that you reserve these options for when you have some inside information of a radical change of fortunes in the industry, alternatively you can place them for a goof and if one lands that’s a handy little addition to your trading bankroll. Keep in mind though that the probability of hitting a weekly touch option is very low.
- Sixty Second Options: Next up we have the 60 Second Options. These are the shortest duration of option that Banc De Binary offers. They expire in only a minute from the time of purchase. So for instance if you place an option 10 seconds into any given minute it will expire 10 seconds after the next minute. With 60 Second Options you can only trade between $5 and $100, also the asset classes available for these options are also usually limited because they are among the more volatile trades available.
- Binary Meta: Finally you have the Binary Meta tab which we are very fond of. Binary Meta essentially provides you with a miniature version of the MT4 platform that is used by Forex traders. It is better version of Banc De Binary’s existing platform, and provides you with a bigger graph, more information and more charting controls. Another aspect of Binary Meta that might interest you is that once you are in this tab you also have the power to close a trade. So say you enter a trade for $10 on the Euro/USD currency pair and the trade starts looking like it might be going against you, you have the option to sell this trade back to the Banc De Binary, albeit at a reduced rate, rather than making a greater loss by staying with a losing trade until it expires.
Our time on Banc De Binary’s platform has pretty much confirmed the hype around this company. They are the best all round platform to trade on, with specific advantages in having the lowest possible minimum trade. Also, from what we can see they have the highest possible maximum trade, the highest payout percentages, most interesting account features and the newly added benefit of having this company being the only one to achieve regulation in a relatively new industry. They may not have the most tradable assets or allow you to deposit in the greatest number of currencies but overall we find the features they do offer to be a winning combination.