Binary.com Trading Account – Review, Types, Process, Benefits, Charges & more
Find out all details about Binary.com Trading Account here. Binary.com is one of the most recommended brokers of all time.
It is the only online trading platform that helps you to trade 24×7 which means you can get to trade on weekends even.
Before the rebranding to Binary.com, it all started with the name “BetonMarkets”. The company was established in 1999 and the rebranding to binary.com was done 10 years later in 2010.
Binary.com is headquartered in Malaysia, Paraguay, UAE, and Malta.
Binary.com has more than a million users and there are almost 20 transactions that occur every minute through the Binary trading platform.
But how much use will it be for users like you and what benefits you will get after opening a Trading account with Binary.com? These are some of the many questions which will be addressed in the article.
We will also get to know about the types of trading accounts that binary.com provides and their features as well.
We will also give an in-depth process of opening a Trading account too. Let’s take a look at Binary’s online trading account in detail.
Binary.com Trading Account and Benefits
Binary.com is a well-regulated broker which gives ease of trading. You can trade on a Binary.com account 24×7.
Binary.com’s online trading account has a very low minimum deposit which maximum other brokers do not have.
This broker provides tutorials and video tips to the user who is completely new to the platform and hence it is one of the best platforms for beginners in trading.
One of the other benefits of this trading platform is that you will get an array of trading platforms to choose from.
Binary.com trading account is a very good platform for daily trading as well as swing trading.
Lots of users who are using the platform for a long time also prefer the Swig trading feature of the binay.com trading account.
Apart from that, they have the MT5 platform for Forex trading and CFDs.
The Binary Web trader and the Binary Web Trader work fine for advanced binary trading options. They have a Binary Bot platform as well which is meant for automated Binary Trading.
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Binary.com Trading Account Charges
|Trading Account Charges|
|Account Type||Financial||Financial STP||Synthetic|
|Initial Deposit||None||Not Required||None|
There are three types of plans that the Binary.com trading account provides which are based on the initial deposit amount, spread, commission, and Leverage.
The three types of plans are Financial trading account, Financial STP account, and Synthetic account.
Financial Account plan
The financial Trading account offered by Binary.com has great leverage and high variable spreads for new traders as well as old traders.
The account is best optimized to give the traders maximum flexibility.
With the Financial trading account, you can trade cryptocurrencies, commodities, minor currency pairs, and major currency pairs which include standard and micro-lots.
The Financial STP account plan
The Financial STP or the Financial Straight-through processing account is a plan where you can get direct access to Forex liquidity providers.
In this account, trades are passed directly through the market.
With this type of account, you can trade Cryptocurrencies, major currency pairs, minor currency pairs, and exotic currency pairs.
The account will give you the option to trade with higher trade volumes and tight spreads.
The Synthetic trading account plan
The synthetic account majorly focuses on CFDs or Contracts for Difference on synthetic indices which in turn simulates real-world movements.
With this account, you can trade 24×7 which is audited independently by a third party.
Types of Binary.com Trading Account
|Types of Trading Account|
|Trading Desk Type||No dealing desk|
|Suitable for beginners||Yes|
|Suitable for professionals||N/A|
|Suitable for scalping||N/A|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||Yes|
There are different types of trading accounts available when you enroll for a trading account through the binary.com platform.
Apart from the MT5 trading account, binary.com broker provides two types of trading account.
It has a virtual trading account also known as the Demo account and standard trading account.
Virtual trading account
The Demo account or the virtual account is an account that does not have any real money so does not have any risks.
The Demo account comes with virtual $10,000 money which cannot be withdrawn but can be used to learn to trade.
The demo account will give you real-world data but the trading that occurs does not have any relation to the real world.
The standard account is the real account that you will get once you sign up for the live trading account.
The standard account comes with a minimum deposit of only $5.
The process of registration is quite simple and if you have a virtual trading account then you can easily convert it to a live standard trading account leaving all the hassles of filling up your personal information all over again.
The MT5 account or MetaTrader 5 account is very useful for traders who work with Forex, cryptocurrencies, CFDs, and other financial markets.
MT5 account comes with features that are not available with regular accounts like limit orders, stop loss, advanced charting, one-click trading, and trading strategy testing.
Binary.com Account Opening and Trading Process
There are two types of accounts associated with binary.com viz Demo account and a virtual account. Opening an account is the same for both of these types.
To open a trading account with Binary.com you need to visit their official website https://Binary.com
Once there, you will find the signup option on the left top corner.
On the next page, you will be produced with a signup form where you have to fill in the details properly.
If you fill in the details wrongly then it might create a problem during the verification process.
Once you have filled up with personal details you will be asked for a Govt approved id card which will be used for verification.
Once verified you can include your banking details and can start trading.
The approval of Banking details takes a few hours to get verified after which you can withdraw and deposit.
Binary.com Trading process
Once you have completed the signup process and installed funds on your account you will be provided with the trading screen.
The trade type is Fall/Rise and the selected trade type is AUD/JPY. The price information is also given alongside.
You can open a contract by clicking on a button to the right. For a higher ROI, the opening price must be less than the closing price.
When the closing price is less than that of the closing price, you incur a loss.
Once you have selected your trades, you click on purchase too but the trades.
If you feel like selling the shares, then you can easily do that by selecting the number of shares and then clicking on sell.
Binary.com Trading Account – Features
|Social Trading / Copy Trading||No|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||No|
|Interest On Margin||No|
|Other Trading Features||No|
Binary.com comes with the Email alerts features which help you to stay updated on trade markets and about your trading account with binary.com.
It comes with trailing stop loss and Take profit options. You can do automated trading with the help of bots and which is also known as Bot Trading.
Other than these features binary.com also has VPS services, API trading, and one-click trading.
They provide Expert advisors which help novice users and they offer heavy promotions to new as well as old users so that they can get a push.
Binary.com Trading Account – Conclusion
The Binary.com account is built for new as well as old users.
It is very easy to operate and has the right set of navigations.
The account opening process is also not tough and you can use a demo account too initially and convert it into a live standard trading account later.
There is no commission levied for general plans with a higher spread.
Maximum brokers charge an amount without which you cannot start trading and that account can be big for a beginner and if that person does not know anything about trading then he or she may end up losing the amount.
This is why there is $5 as a minimum deposit account for all traders. Overall it is one of the finest trading platforms of all time.
Binary.com Online Trading – FAQs
Here is a list of FAQs related to the Binary.com Online Trading:
Do Binary.com provide Online Trading?
Yes, the Binary.com online trading account is meant for trading remotely and online.
You can watch and lock trades with the help of a Laptop and good internet connectivity.
What are the Commission Charges in Binary.com?
Binary.com does not charge any commission for all the three types of plans viz, Financial Trading Account plan, Financial STP trading account plan, and Synthetic Trading Account plan.
Do Binary.com provide Demo account Trading?
Yes, Binary.com has Demo account trading which is also known as the virtual account.
You will be provided with 10,000 dollars of virtual money when you successfully sign up for the binary.com demo account which cannot be withdrawn anyway whatsoever.
Is trading Free at Binary.com?
Yes, trading is completely free at Binary.com. Sometimes your bank may charge you a processing fee but other than that it is free.
Do Binary.com provide Spot Metals Trading?
Yes, Binary.com provides Metals Trading for industrial metals and precious metals which is commission-free, comprehensive and comes with competitive spreads.
What are Spot Metals Trading Charges at Binary.com?
There are no spot metal charges you will find while trading for spot metal at binary.com. You will not be charged commission fees as well.
Do Binary.com provide Stock Trading?
Yes, you can easily trade with stocks. You can purchase and sell stocks whenever you want.
What is spread at Binary.com?
The spread at binary.com is the difference between the asking price and the selling price.
The currency pairs offered by binary.com have two prices one is the asking price and one is the selling price or the bid price.
Is Binary.com safe for trading?
Yes, Binary.com is a safe trading platform.
People at various review platforms gave the Binary.com online trading platform thumbs up.
Do Binary.com provide Trading Tips?
Yes, the Binary.com account gives its new users tips and a user guide to go ahead in trading.
It also provides educational materials and introductory guides to help you.
Fill up the Form – Open Forex Trading Account Now!
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