Banc De Binary has been around since 2009 and you can tell they have been around for awhile. The SpotOption trading interface works well and it’s a mature platform. Normally the brokers using SpotOption have fairly low payouts, usually 65-75%. Banc De Binary, on the other hand, is now offering up to 90% on certain underlying assets. Remember, that’s without a special account. With some other brokers you need to have a Premium account to get 89%, not with Banc De Binary – everybody gets an amazing payout. A minor drawback is the Out-Of-The-Money payout, it’s a puny 1% at best – that’s ridiculous. Another major positive with Banc De Binary is that they are actually incorporated in the US, not some tax haven. That doesn’t mean they are regulated by the NFA, but at least there’s some oversight by the SEC. The minimum deposit is $500, which is higher than most Binary Options Brokers. A demo account is available after you have funded your account. Their slogan is quite cheesy though – Private Option Bankers.
Banc De Binary have grown there available underlying assets consistently. At this moment they are offering 79 different assets, which is very good indeed. Not the best but enough to satisfy most traders. Of course most assets are Stocks, but even in the Commodities you can find some unusual underlying assets. They are also covering different region like the Middle East which is great for those traders coming from there. It’s always an advantage to have some experience of an asset before you dive in. Forex had in the beginning the the most assets, but Banc De Binary now only offers the majors. The advantage with Forex or Currencies is the around the clock availability. All other assets can only be traded at certain times during the day, while currencies can be traded almost 6 days a week. That’s one reason Forex is so popular with traders.
The SpotOption platform used by Banc De Binary is tested and tried, which means reliability is strong. We have never experienced any problems. Of course loading the charts migh take a couple of seconds on a slow connection and submitting order so take a few seconds before confirmation is received, but that’s normal. For smoother running use a browser without add-on as this improves performance.
Charting is fine, although it could of course be better. There is no way to get extra price history on the normal charts. You have to use the MetaCharts (BinaryMETA) for that. But even then it is not entirely good. The problem with the MetaCharts is the history function. It would actually be better with a zoom function, than they way it is set up now. However, no other broker offer such a feature. Trading from these charts is difficult, at least in my opinion. Much better to use some free charting service where you can adjust time frame, zoom and lots of other stuff. It’s recommended to use these charts only to pinpoint your entries.
The SpotOption platform Banc De Binary is using is not the most user friendly. It lacks some filtering features or a favorite function. Most traders trade only a few assets and therefore it can come in handy to be able to define these favorite assets. One sign of an amateur is they way he spreads out his trades between many assets, trying out everything and learning nothing. Each asset is unique and must be learned. There is no escaping that fact. Although a demo account is available, you have to fund a real account first with $500 before you can start testing your trading strategy on a demo account. Only a few Binary Options brokers offer a demo account so that’s good. However, it would of course be better with a demo account without any strings attached. Depositing and withdrawal looks to be very easy as with most Binary Options brokers. One one provider is missing – PayPal, which is not so good. However, there are so many other choices, for example MoneyBookers, that most traders are covered.
Banc De Binary have been around since 2009, so it’s a well oiled machine by now. We have tried both by email and Live Chat and both work well. The Live Chat is preferable because the answer comes within a few seconds. The staff seems knowledgeable and reply quickly even a special question that the average user might not ask. They also have a pretty good trading library with a decent Binary Options ebook as well as an audio book. What is missing is a video series that could help complete beginners get a running start.
|Deposit Bonus||Up to 100%|
|Markets||Forex, Stocks, Indices, Commodities|
|Number of Assets||120|
|Deposit Currency||US Dollar, British Pound, Japanese Yen, Euro|
|Account Funding||Visa, MasterCard, Dinners Club, Maestro International, JCB, Carte Bleue, Dankort, CartaSi, Laser, Discover, Liberty Reserve, MoneyBookers, Money Gram, Wire Transfer|