Banc de Binary is a Cyprus based binary options broker. They were founded in 2009, making them one of the oldest and most trusted brokers out there. They have seen ups and downs in those six years, but they are still considered one of the top brokers, and have much to offer their clients. Read our Banc De Binary review and hopefully it will help you decide if this is the broker for you.
What makes them different?
First, Banc de Binary has experience on their side. They’ve been around longer than almost every other broker, and there is a reason for this. Over a period of this long, the bad brokers–the ones that do not provide a valuable service to their clients or are just plain old ripoffs–disappear. Other Brokers Out There shows that they have a superior product.
Second, this broker is very strict about following industry standards. This has come at a cost to them, but it shows that they do care about their customers and providing them with a high quality product. When a company is faced with a dilemma where they must choose between making money and doing the right thing, most companies would not choose the less profitable choice, yet Banc de Binary has by limiting which customers they take on. Currently, they do not accept U.S. based traders, even though this costs them millions of dollars in profit each year. They do this voluntarily because of vagaries in the SEC laws established.
What are the strengths?
This site plays toward beginning traders, especially those with smaller account sizes. This is one of the reasons we did this banc de binary reviews. According to their last estimate, the site had over 200,000 traders, and many of these are small individual accounts. You can open a trading account for just $250 and begin right away. You can trade with as little as $1, and the average rate of return is right at the industry standard of 81 percent. They have the call and put options that people think of when they think binaries, as well as boundary and one touch trades. You can also end certain trades early, which is a unique feature in this business. These come with a cut taken out of the full profit rate, but it’s a good choice if you are currently in the money and that is in jeopardy.
They also have a strong platform to trade on, More on Practice Accounts. This is a great way to practice before you start risking real money and familiarize yourself with how the site works. Contacting one of their 60 employees is a good way to get set up with a demo trading account if you wish to use one and learn how to best use their site quickly.
What are the weaknesses?
The obvious weakness is the Banc de Binary isn’t accessible to U.S. traders. There are a lot of rumors swirling around about this site, and most are negative. The issue is that the SEC has filed complaints against the broker because of the fact that the product they were advertising wasn’t registered in the U.S. The cases are not resolved, and it’s hard to know whether these are legitimate issues or not because of gray area in the laws cited, but as a precaution and as a show of willingness to do the right thing, the broker has decided to voluntarily suspend U.S. operations.
Who is this site best for?
This site is best for European traders at the moment. The site has a lot of European based stocks and indices listed as underlying assets, so it’s clear that this is their focus. If you are a new binary options trader, or do not wish to risk a ton of money in trading, Banc de Binary is a great place to take your business, as well. We hope this Banc De Binary review was helpful. Please leave some comments if you have anything to add.