Banc de Binary is a binary options broker currently based out of Cyprus. They first opened up in 2009, back when binary options were a brand new thing for the average person. They use SpotOptions as their software platform for trading; one of the best and most widely used platforms out there. Overall, this is a great broker for most, but one that is not for everyone. Let’s look quickly at the good and the bad and see who will benefit most from using their services.
One of the big benefits of Banc de Binary is their appeal to institutional traders. They have a focus on the big guy, including professional individuals, which makes them very popular. As far as asset choice goes, Banc de Binary is one of the best binary brokers on the web. They have a huge list from over 30 countries, and they even offer custom assets to some of their larger customers. This gives them a great amount of appeal when you’re trying to select a new broker. Their trading platform is easy to use and hard to make a mistake on once you learn how to navigate it.
Banc de Binary has some great trading features that make them attractive to advanced traders, including Option Builder, which allows you a great deal of customization for your trades. They also have One Touch and are compatible with MetaTrader 4’s BinaryMETA software to give you an edge over the Forex markets. Rates of return are pretty high for their high yield one touch options–up to 500 percent on correct trades. These are all advanced tools that give someone with some experience here a big edge.
Another big benefit of this site is the fact that they have a demo account. While a lot of their features are great for advanced traders, this is one that will also appeal to the new guy. Demo accounts are a great way to get your feet wet in binary trading, learn the software that you’ll be using, and get a basic feel for the market. It’s designed to help you shorten your learning curve and start making money faster. To gain access to this feature, you will need to contact their customer service representatives, but it is an extremely helpful thing to have at your disposal.
Over the last couple years, there has been a lot of controversy surrounding Banc de Binary. At one point, the U.S. financial regulators shut them down. They are now back up and open for business, but to avoid future problems they do not accept U.S. traders. This casts a very poor image of them, however. Being forced to close does not ever look good, but the argument was that they were offering a product that was not SEC regulated. It’s a tiny point at best, and it is one that can be debated endlessly. The bottom line is that this broker is one of the oldest out there, has a great reputation amongst those that use their services, and they continue to attract new clients every day. In this light, it’s hard to say that they are doing something that is wrong or harmful. It’s unfortunate that their press has been bad,but this doesn’t mean that they are a bad broker.
Other than this big concern, Banc de Binary has lower rates than the industry standard on their regular trades, usually around 71 percent. A lot of other brokers have pushed this limit up past 80 percent these days, and 71 percent will severely limit your earnings, until you consider the fact that you will be better able to make trades as you want them at this site and they are very safe and reliable.
They do not offer huge bonuses, either. Their bonus rate only goes up to 50 percent. They do this to stay competitive but keep away from gimmicks at the same time. A lot of the big bonuses that other sites offer you will never see because of ridiculous trade through requirements, and while Banc de Binary avoids this, they also seem unattractive while doing it which many will perceive as a negative.
Who is this Broker Best For?
This broker has the biggest amount of benefits for those with trading experience. They have a great platform, lots of assets to choose from, and they don’t hype up features that really don’t matter. If you get a bonus and can keep it, great, but that’s not the focus here. The focus is on offering a steady product with steady rates of return. They are not as flashy as a lot of other brokers, but they offer something superior if you have a leg up in the industry already. Not many people would choose 71 percent over 85 percent in returns if they don’t have to, but because of the high amount of customization available with this broker, professionals with experience quickly overcome this disadvantage.