Interested in earning money with binary trading?
Heard about a Binary.com scam and are unsure which binary broker to choose?
Although binary options trading can be highly profitable, it can also cause inexperienced traders to lose their entire investment. Therefore, choosing a trustworthy broker is the best place to start when preparing to profit from this financial derivative.
Is Binary.com a smart selection? Learn what is true about the fraud accusations involving this company.
What is Binary.com
Binary.com is historically a financial betting site launched in the early 2000’s. It has since modified its range of products several times, and currently offers a variation of binary options trading. Owned by Regent Markets Group, formerly known as Fixed Odds Group, this broker has had significant success catering to online gamblers.
If you are interested in binary trading and wish to improve your income through some sort of online financial investment, Binary.com is not suited for you. On the other hand, if you consider your online trading activities a fun way of speculating and feeding your gaming interests, then this broker might just be the right choice.
Binary options trading does involve risk, and it should, since no investment offering such high yields could be considered entirely safe. In order to succeed, a serious trader will seek to learn trading strategies and risk control mechanism that will allow for a profitable and consistent experience.
Scam allegations against Binary.com are understandable, since this company chooses to present options trading as an easy, manageable gamble. Although it does inform clients about the risk involved, it blatantly fails to explain to you why this activity is volatile, and more importantly, what you should do to earn money.
Meanwhile, serious and reliable brokers are constantly improving their services and making sure clients get all the assistance and knowledge necessary for trading safely and profitably.
Banc de Binary is the fastest growing binary options firm worldwide, due to the transparency of its activities, and mainly to the Education Center built to give customers all the tools needed to become a skilled online trader. It has seen remarkable success in certain markets where once Binary.com ruled. Binary options in Australia and in the UK are examples of the impact Banc de Binary has had on the mentality and success traders experience.
Offering the best binary trading ecourse, it also gives you extensive tutorials and has an amazing team of professional financial advisers ready to assist you. Moreover, it offers the highest yields in the market, and a 100% cash bonus that is added to your account. Certainly this is a better choice for you to earn with:
OptionBit, the 2nd largest binary broker worldwide, has likewise invested in educating its clients with the most advanced set of learning tools, helping them sophisticate their techniques while creating new trading strategies weekly. In addition to their tutorials, they offer a free trading signals services, Algobit, which traders have praised for increasing the profitability of their accounts. Learn how to build and manage a portfolio of binary options profitably and professionally with this leading broker:
OptionWeb is an excellent example of a firm committed to helping clients, as opposed to the slack attitude seen on the Binary.com site. Eager to help you improve your results, this firm has created one-on-one training sessions, where a personal account manager helps you learn the best strategies for your online investment success. As soon as you create your account, a professional investment adviser begins tutoring you and helping you become a successful trader:
Binary.com Withdrawal Issues
Several complaints have been voiced against Binary.com, its services and the transparency with which it handles customers’ monies.
Of course, not all allegations are true, but certainly the bureaucracy involved in receiving funds from this binary broker is over-complicated and sometimes might feel like a lack of good faith. Regardless of the problems with the withdrawal of profits, there are additional issues surrounding Binary.com activities.
The main aspect which creates doubts about the legitimacy of this company is the trading platform itself. The trading environment is very different from that seen on most binary options sites. The calculation of payouts, and losses are unclear and the explanations completely fail to inform clients what percentage of their investment is lost when making an incorrect prediction.
Although declaring a Binary.com scam is unfair to this broker, considering the site to be very uninformative and at times misleading is something that would not cause surprise.
Binary.com is the leading binary options broker in Indonesia. It also has large market shares in Russia and in fact the site is available in those three languages. What is the key to this success?
Binary Options have only been available as an online derivative since late 2008, while Binary.com functioned as a gambling site and as a spread betting site as early as 2002. As a result, this brand name carried on to its new niche, binary trading, allowing this broker to garner success in these markets, in spite of the fact that nowadays there are much more reliable and professional binary brokers available.
Binary.com changed its name in mid 2013, from BetOnMarkets to its current brand name. This was probably a marketing move intended to distance the company from the image of gambling and acquire a more financial status.
Regulation and Security
When trading with Binary.com, clients may be assigned to one of four (!) different companies. The firm has subsidiaries which are de-facto individual firms in places as exotic as Malta, Channel Islands, Isle of Man and Cost Rica.
Although you might be rightfully tempted to visit these territories during your next touristic stint, investing your monies in such uncommon countries is hardly the safest financial step. One reason for this four-headed monster corporation is the need to comply with regulatory demands from gambling regulation purposes, such as those demanded by the LGA in Malta.
It is important to stress that Binary.com is not regulated as a financial services company, but as an online gambling site. Although this is not a scam and the regulation does give clients some protection, it does not oversee the financial activities and investment offers of the company.
Binary.com Scam Summary
- Binary.com is a former gambling site currently offering a variation to binary trading
- Although very similar to regular binary options, the Binary.com trading platform calculates payouts differently, is more complicated and less transparent
- Scam allegations against Binary.com have been voiced on several levels
- Although it is definitely not a fraud, Binary.com clearly presents itself as a gaming site and therefore offers no investment guidance to customers
- Nowadays, the market offers much more professional and serious brokers to choose from
- Remember that binary trading involves risk and is speculative. To avoid scams, always give preference to companies offering extensive advice and educational tools