Banc De Binary is the daddy of them all, the Coca Cola of Binary Options, a binary option broker that was launched in 2009, and remains to be one of the biggest players if not the biggest in the binary options industry. They are currently located in New York, USA and are currently regulated by the Cyprus Securities and Exchange Commission. In this review, I’ll cover all the features that Banc De Binary offers and help you decide whether or not this broker is right for you.
Banc de Binary Review Basic Information
Official Website: http://www.bbinary.com/
Officially Launched: Early 2009
Account Currencies: USD, EUR, GBP
Minimum Deposit: $250
Mobile Platform: Yes
Demo Account: Yes – For Depositing Customers Only
Accepts US Clients: No – No US or Israel
Deposit Bonus: Yes – Up To 100%
BDB Review Rating: 8/10 – Very Good
Banc De Binary uses SpotOption as their trading platform, which is probably the most intuitive and easy to understand platform that is available. Currently, they have 7 different trade types available including High/Low, Long-Term, One-Touch, 60 Seconds, Option Builder, BinaryMeta, and Pairs. There are tabs at the top of the user interface so you can switch between the different trade types easily.
Once you click on a trade type, you can easily see all the different assets that are available at that time. If you click on an asset, you’ll see everything you need to know about that asset including it’s market price, the expiry time, and the payout. You can start a binary option trade with just 1 click of the mouse. Just enter your investment amount, and click CALL if you believe the price of the asset will increase or PUT if you believe the price of the asset will decrease.
Banc De Binary does offer it’s users the ability to trade binary options from their smartphone or tablet. Just download their mobile application, and you can start trading anywhere in the world, as long as there’s an internet connection or WiFi.
Banc De Binary offers payouts that range from 70-91% on your standard Call/Put trades. Their One-Touch trades offer higher payouts that can reach over 500%. Depending on the asset, they also offer a 0-15% refund rate on losing trades. So usually, the assets with the lower payouts have a built-in refund rate, so you can recoup some of your investment even if you lose the trade. Their minimum investment for a single trade is just $1, which is perfect for novice traders that are still learning how to trade. Their maximum investment for a single trade is $6,000.
Banc De Binary currently has about 90 assets available on their platform from the 4 major asset classes such as stocks, indices, commodities, and currencies. One good thing about this broker is that you can actually make requests to include assets in their platform that aren’t already available. Customer satisfaction is their primary goal, and that’s one of the reasons why they’ve been one of the largest brokers over the past several years.
Banc De Binary requires a minimum deposit of $250 to open a live account. For those that deposit a higher amount, will get access to their gold or VIP accounts which have additional advantages such as a personal account manager to help you with anything you need or offer advice. You can make deposits by wire transfer, credit cards, and MoneyBookers. All transactions are made using SSL with 256 bit encryption to make sure your financial data is secure. Your funds are then segregated into a segregated bank account, as a requirement by their license from the CySEC.
Banc De Binary will allow you to withdraw your funds at any time using credit card, bank wire, or MoneyBookers. Most of their withdrawal requests are processed within 2 days and there are no withdrawal fees like there are with other brokers. Withdrawals via MoneyBookers can be as fast as 24 hours. To prevent potential fraud, they require you to show proof of identity when you make your withdrawal request. The proof of identity can be sent via email, and is generally something that every broker requires.
Clients are now able to get access to a demo account of their platform, with $50,000 of virtual money. Once you open your live account with a $250 minimum deposit, the demo account will be available to you. This allows you to test out your trading strategy before risking your real money. Our advice is demo for 2-3 days around 100 trades to work out what kind of trader you are and works best for you before trading any real money.
For the minimum deposit ($250) the Bonus offered goes up to 50% and the wager is 20 times. These numbers are average for the industry and pretty normal, but for all other types of accounts, the Bonus is 100% which is huge and as you might know, our opinion is that a big bonus creates more problems than benefits. The main problem is of course the fact that you cannot withdraw until the required turnover is accomplished and the higher the bonus, the higher the trading volume needed until you can withdraw. However, the good thing is they don’t force the trader to accept the bonus. Think very carefully before accepting the bonus. our advice is although enticing if you do not require the additional funds don’t take them.
Banc De Binary is the Coco Cola of the Binary Options Industry and has one of the strongest reputations, and for good reason. To help entice clients to sign up with their company, they do offer first-time deposit bonuses up to 100% of the deposit amount. Their platform interface is extremely easy to use and offers a wide range of trade types and assets. They are regulated and licensed by a financial regulatory agency, which is one of the most important features you should seek in a binary option broker. Unfortunately, they do not accept clients from the United States. Overall, Banc De Binary is a broker that has a lot of strengths and not many weaknesses.
Banc De Binary Review Rating = 9.5/10 = Binary Bosses!