Banc de Binary Review
Experiences with Banc de Binary
Banc de Binary (BDB) is one of the world's biggest operators of binary options (according to Wall Street Journal) and this company was founded in 2009. The motto of the broker „Simplicity pays" can be felt from the first visit of its website and the broker sets up everything so that its selection of services is simple, effective and easily understandable.
The company was founded on St. Vincent and Grenadines by the parent company Ash Ltd. and has its European headquarters in Cyprus. Brick and mortar branches are located, for example, in London or Bulgarian Sofia. Broker's website is translated into most world languages.
Our experience with Banc de Binary is positive, because we appreciate the speed and clarity of the trading platform and the offer of more than 190 trading instruments. Payout ratio of 91% is above average and means that the client will get more from his successful trades than he would at most competitive brokers of binary options. In certain cases it is possible to get up to 94% payout ratio!
Trading with BDB
As it is customary with binary options brokers, trading occurs via a trading platform, which runs in a web browser and it is therefore not necessary to download or install anything. Platform is easily accessible through the option „Trading Platform" and if a trader has a verified account with money deposited in it, he can start trading immediately.
The most important aspect of the trading platform is its speed and clarity. Opening a trade on the platform is a question of 4 clicks with your computer mouse:
- select, which instrument you want to trade (that is, choose one of 100 currency pairs or one of dozens of stocks, commodities, equity indices, etc)
- select the amount to invest for the given trade - from 1 Euro to hundreds
- select the expiration time of the option - that is when you want the investment to be evaluated - from 60 seconds to days
- select the direction in which you think the markets will move - and therefore speculate that the price of the stock will rise (option CALL) , or fall (PUT)
BDB's forte is its selection of trading instruments, as well as the fact that the broker does not limit this offer to forex only, but also includes stocks, commodities, energies, precious metals or equity indices.
Payout ratios or how to earn with Banc de Binary?
Most instruments has a payout ratio between 75-80 % at Banc de Binary, which is standard at most binary options brokers. The longer the expiration time of the option, the more lucrative payout ratio is achieved.
Whether the client will profit or his investments will not be as successful depends on how he approaches trading. The foundation is to have enough information about the markets and considering the more favorable nature of payout ratios it is better to prefer longer lasting options. On the other hand, short (60 seconds) options with the possibility of 1 Euro trade offer the possibility of performing large volume of trades in a relatively short amount of time and have a quick overview whether the applied trading strategy is profitable or if it needs adjustments.
License, securities and financial transfersEven though Banc de Binary has its roots in St Vincent and Grenadines, the broker is fully legal, approved and regulated in EU. In the European Union, the broker operates through its Banc de Binary (Cyprus) Ltd. branch and is regulated by CySEC - Cyprus Securities and Exchange Commission as an investment firm under the license number 188/13. The entire license can be accessed online on the CySEC website here: http://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/37701/
Thanks to the CySEC license, BDB's operation is legal over the entire area of the European Union and client's deposits are insured up to 20 000 Euros in case of broker insolvency where they would no longer be able to pay their liabilities to their clients.
Payment options at Banc de Binary are standard and include bank transfer and transfers via a debit card.
Minimum deposit amount for active trading with real money is 250 Euro, the maximum amount is no set.
Types of accounts
Client is given one of 5 types of accounts according to the amount of money he deposits. These accounts vary in the level of additional exclusive services offered.
Bronze account is given to a client who deposits 250+ Euro. This is a starter account, which apart from trading binary options themselves offers the possibility of accessing webinars twice a month, daily market news and a dedicated manager.
Silver account is given to a trader depositing 2 500+ Euro. This is the most popular and widespread type of account that is open by BDB's clients. With it, you can trade all 190+ financial instruments and for a period of 1 month take full advantage of their analytic signal system Trading Central for free. Clients are also given other gifts for trading from BDB.
Gold account is linked with deposits of 5000 + Euro and offers, among other things, unlimited use of Trading Central, consultations with analyst, special bonus trades, money management plan and others.
Premium account is assigned to everyone who deposits 10 000 + Euro. The main advantage, compared to the before mentioned types of accounts, are payout ratios higher by 2-3% on successful trades, therefore a long term higher deposit is linked with higher earning potential. Other advantages are, for example, invitations to VIP events and parties for clients, exclusive trading space, extra quick processing of withdrawals, twice monthly educational meetings with analyst and many others.
Platinum account is the most exclusive form of an account and is ready for the VIP clients with deposits of 25 000+ Euro. Compared to the premium account it does not offer anything else other than the exclusive status.
Banc de Binary demo account
The basic prerequisite to become a successful trader is to make large number of trades and make sure they all are profitable. An excellent way how to learn trading binary options with Banc de Binary is to try trading with their trial account with virtual money, or on so called demo account.
Every trader, who deposits out front at least 250 Euros will get a trial account with virtual 50 000 Euros that works just like a real account with real money. Trading with the demo account does not differ in any way from real trading and the results that would be achieved with the demo account would, under the same conditions, be achieved with the real account.
Beginners should at first try BDB's capabilities with the demo account before getting into trading with real money.
How to open a new account with Banc de Binary
As with any other regulated broker, with Banc de Binary, it is impossible to start trading with real money before a client fills out a so called investment questionnaire and verifies his personal data.
The whole process occurs online and the client fills out a short form, in which he checks what are, for example, his investing experiences, financial options, expected trading results, etc. These are requirements given by the European Union and along with this questionnaire, the client also sends in a scan or a digital photo of his ID and a document confirming his address (a bill for services, energies or such)
Education with Banc de Binary
Banc de Binary offers its clients advanced options in education and through that increases their chances for successful trading. The main foundation for education is the portal BancDeBinary.net, which focuses on educating traders. It contains educational articles, financial calendar and many other items. Ebook with educational materials is available for free as well.
Another level of education that BDB provides are webinars, personal coaching directly from managers or invitations to conferences and events. These higher levels of educations are available according to the type of account the client has. Beginner trader will not have access to a personal consultation with an analyst.
Trading Central is a great analytic tool, which in many cases can help to fill in the gaps in thinking where the markets will move and clients with the silver accounts and higher have access to it.
Bonuses and 3 Risk Free Trades with Banc de Binary
Banc de Binary has a special promotion, where it offers 3 risk free trades. The idea behind it is that the client opens up a new account, asks for activation of 3 risk free trades with the customer support and if the trades are profitable, keeps 80%-91% of the profit (according to the instrument and the option expiration time). If the trade is not profitable, Banc de Binary covers the client's loss. To get the bonus, just enter your email by clicking on the link below:
Another great bonus that Banc de Binary gives its clients is up to 100% bonus with the deposit up to 1000 Euros. To get this one, the client deposits money and contacts customer service which then credits bonus. It is even possible to get the bonus repeatedly under certain conditions (for example after previous unsuccessful trades there is a big chance that BDB will grant the client deposit bonus again)
Summary and conclusion of the review
Banc de Binary is a broker with one of the longest histories among binary options brokers. Thanks to the experiences broker has gained over the years, they can offer their clients exactly what they are looking for - quick and intuitive trading platform, straightforward communication, quick payouts, good selection of trading instruments and competitive payouts.
Based on our test there seems to be no issue with BDB. The broker is fully regulated throughout the European Union with deposit insurance of up to 20 000 Euros, has long history and offers good bonuses for clients. If Banc de Binary interests you, visit its website by clicking on the link below, open an account and try, for example, risk free trading with the demo account or ask for the 3 risk free trades on the broker.
Discussion on Banc de Binary
Did you have good or bad experiences with BDB? Share them in our discussion and help your fellow traders decide, which broker is a better partner for trading binary options.