Is Banc de Swiss a serious and reliable company?
How does Banc de Swiss rate among other binary options brokers?
This review shows the flaws and benefits of this focused and its influence on the German market.
Banc de Swiss is the leading binary broker in Germany, although this site was only launched in late 2012. Although it is available in several languages, the focus of the company is German customers.
Besides being among the largest binary firms in Europe, Banc de Swiss has the suspicious distinction of being among the companies most associated with scam accusations and complaints. This review will allow you to understand why this has happened and whether there is real reason for caution when trading with Banc de Swiss.
Banc de Swiss company
Similar to other major binary options brokers such as Cedar Finance or TradeRush, Banc de Swiss is a white label company that uses the trading platform leased by platform-developer SpotOption. As a result, the trading experience on the site is a good one, since the platform uses a simple interface. It allows clients to become used to the features offered on the site quickly and with ease.
Unfortunately, the company has not put the necessary effort to enhance the content of their site. Banc de Swiss does not offer traders even a minimal amount of educational material, tutorials or investments advice.
Looking to expand their business to Scandinavian nations, the Banc de Swiss site is available in Norwegian and Swedish, as well as Italian, since Italy is considered one of the top two European markets for binary trading. The registration process is simple but does not give access to any additional information on the site.
Asset list and Yields
A diverse asset list in digital trading allows customers to take advantage of unique market situations that can be translated into immediate profit. Therefore, although Banc de Swiss have an acceptable variety of currencies, stock, commodities and indices available, its list is average. Other brokers in the market simple offer more in this sense.
Likewise, although payouts in this field are always high and should not be the measure by which to choose a broker, Banc de Swiss yields are only average, with most options offering a fix rate of 80%. As mentioned, though, the ability to create profits in binary trading is centered not on payout values, but on the consistency of your results.
When considering that the Banc de Swiss site is fairly good and the yields and asset list at least average, why has the reliability of the company been constantly questioned? This should be your main concern, and here we review the reasons for this situation.
Issues with Banc de Swiss
Banc de Swiss offer an opportunity to trade with binary options, and besides the high yields, they also use other marketing strategies, such as a low initial deposit value and the ability to place small trades, of only 5 euro each. What they fail to inform about in a clear way, is the fact that binary trading is highly speculative and caution is necessary.
This is what differentiates Banc de Swiss from brokers who are trustworthy and have an excellent reputation. These brokers not only inform traders of the risk involved, but also help them learn risk management techniques and investment strategies.
That is why this company is plagued with fraud allegations. Although it is not a scam and creating a profit on their site is definitely possible, they lack the transparency that creates trust and allows clients to learn trading systems.
Banc de Binary is an excellent example of a company that has adopted a philosophy of assisting clients in becoming skilled traders. Its financial advisors are true professionals and customers in many countries have reported excellent results after receiving guidance from these experts. Since Banc de Binary also offer the highest yields in binary trading and a large cash bonus, they are a safe and recommended destination for your investment.
Another broker that has been praised by traders for its investment assistance is OptionBit. An experienced broker, this company, 2nd largest worldwide, gives you free one-on-one lessons that teach you the ins and outs of online trading, from the simplest tasks and all the way to sophisticated trading strategies. An additional benefit is their generous bonus which you can add to your deposit to start off with a larger initial investment.
StockPair, considered the most reliable broker worldwide, has created an Education center on their site, complete with one on one trading sessions, tutorials, a free ecourse and many other instructional tools. This approach not only allows you to become a successful online trader, it gives you the assurance of selecting a broker that is looking after your needs and assisting you in creating profits:
While all these companies have developed several tools to improve the trading experience of customers, Banc de Swiss has maintained a very limited offer to clients, who have access to the trading platform and little else. This being one of the main reasons for scam allegations.
Limitations and regulation
Banc de Swiss does not accept American traders and does not operate in the USA, where regulations regarding online trader are stricter. In general, the fact that a binary broker does not offer services to US citizens should be seen as a cause for some concern. It might mean the company has not been established in such a way as to comply with American regulatory demands, which at the end of the day, are set to protect traders.
Although its name and marketing campaigns suggest otherwise, Banc de Swiss is a registered Cypriot company. It is not located in Switzerland, and although this contradiction is bizarre, it should not be cause for alarm. Many binary options brokers had established themselves in this small European country, which had offered a regulatory process specifically for the binary field. The Cypriot financial crisis has put an end to this project, but nonetheless, currently many companies are still located there.
Banc de Swiss Review Summary
There are definitely advantages to this broker, such as a good site, a decent asset list and reasonable payouts. Yet when reviewing all that Banc de Swiss offers, the flaws outnumber the benefits, since what is lacking relates to the more essential services binary traders should seek.
With excellent alternatives in the form of experienced and highly professional brokers, there seems to be no major reason to select Banc de Swiss as the place for your funds. At least as long as the package offered by others is so substantially better.
Although not a scam at all, it’s understandable why this company deals with a questionable reputation, given its limited customer service and lack of an effort in creating a trusting individual relationship with its clients