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Banc De Binary
Banc de Binary have closed and are no longer trading. This broker is no longer accepting new customers.
The sales method known as “upselling” has ultimately damaged their reputation and business. Brokers operating similar models will hopefully take heed and provide higher levels of customer service in order to run sustainable operations.
Return to the broker comparison table to search for an alternative broker.
Banc de binary ‘eu’ are one of the largest binary options brokers in the world. Their global brand name is what sets them apart from other rival trading brokers. They provide binary options in 180+ assets in over 30 countries. They cater for traders in more than 80 different countries around the world. Their mission statement is “simplicity pays“, and that tagline is central to the business.
Banc de binary still pride themselves on their customer service, despite their growth since 2008. From one to one tuition to video tutorials and e-books, Banc de binary offer as much help as a trader requests. Complaints about the firm however, stem from account managers who encourage large deposits, and often over trade, or suggest clients to. As ever in binary options, it is always best to trade yourself. Never let anyone trade on your behalf.
Here are some of the other key details;
- Demo Account – No
- Bonus details – Up to 100%.
- Minimum Deposit – $250
- Minimum trade – $1
- Signals service – Yes. This forms part of Silver or Gold account packages.
- Mobile App – Yes. Android and iOS.
The Banc de Binary platform offers a fast, user-friendly method of trading options. Spot Option backed, the trading area delivers clear layout, all the key data can be easily found.
The top of the trading platform is where traders can select the asset, the expiry time they wish ti use, and the size of their trade. Updating these will change the price graph, and trading buttons with the up to date data for that asset and expiry. Changing the trade amount updates the ‘projected payout’ figure too.
Under the trade selection bar is the main price graph. This can be changed to reflect different time periods, with options of 30 minutes up to 12 hours offered. To the right are the trading buttons and key trade details. The current price, and payout, the expiry countdown and the call and put buttons (clearly marked). The trading area is very intuitive. The final feature is a trader sentiment bar
The trading platform provides a clean, organised area.
Who regulates Banc de Binary?
Banc de Binary are regulated by CySEC (License 188/13). They are also registered with a number of other organisation including the AML in France and the FCA in the UK. They are not regulated by those bodies however, merely registered with them, which is not the same thing. Any trader disputes would need to be taken up with CySec.
The firm offer a good selection of binary option types.
- Binary Options – The traditional Up/Down options. Will the asset rise in value, or fall?
- 60 Seconds – The 60 second options work in the same way as a standard binary option, but the expiry times are very short – 60 seconds or less.
- Pairs – Which of two assets will rise in value most? The pairs of assets will generally be in the same asset category, for example Google versus Amazon, or Gold versus silver.
- Long term – Long term options follow the same principals as standard binary options – but the expiry periods are over long time frames. Anything over ‘end of day’ expiries are classed as long term.
The assets lists are very big, and it is a clear strength of being a global brand. They also command a large share of trading volume, which means their large asset list is also available to trade. Some smaller brokers may list certain assets, but then not be able to open them due to a lack of volume
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When Banc de Binary generate complaints, it generally revolves around the practice of ‘upselling’. This is where an account manager from the firm, will contact a client and offer them advice. This advice can often lead to large deposits, and pressure on the client to trade beyond their means. It very rarely ends up profitable for the trader – much the opposite.
The brand offer a good trading platform and educational materials, but traders must beware of any account managers and ensure they take responsibility for their own trading. Never let anyone else trade on your behalf. As an ‘over the counter’ broker, there is a clear conflict of interest where anyone from the firm offers to trade for you.
Banc de binary offer a free mobile trading app. Delivering full access to all areas of the full website, so traders can trade on the move and ensure no trading opportunities are missed.
The app is available on iOS (iPhone and iPad) and android. The trading area appears more or less the same as it does on the web based platform.
Live charts are also available via the mobile app, designed thoughtfully for smartphones and tablets. A responsive design means the charts display well regardless of the device used. Account management features are also available on the app.
The mobile app delivers a great user experience and is fully functional.
Returns are 86% on most options. Payouts will vary depending on the asset and the expiry time of the trade. The percentage may also move depending on trade volume. The returns on the more popular assets are good compared to their rivals. Payout comparison can sometimes prove difficult, but BdB do pay a fairly consistent level across all assets.
Deposits at Banc de Binary are secure and robust. There is a deposit option on the right of the login area, visible once a user logs in. Once confirmed, deposits are available to trade immediately. There are a variety of deposit methods to choose from – credit card, bank wire transfer (international or domestic) and Skrill. Any withdrawals are generally returned via the same route that a deposit was made. This is a common policy throughout binary options brokers, and is a measure against laundering.
Withdrawals can be made anytime, but there is a minimum withdrawal figure of $50. The broker will always require some proof of identity before authorising any withdrawal, again this policy is fairly common with binary firms. These delays are sometimes the cause for disputes, so proof of ID is best sorted out as quickly as possible after opening an account.
Withdrawal authorisation will require;
- A form of photo ID (driving license for example),
- A recent utility bill.
Both documents will need to show the address of the trader. Once received, withdrawals will then become. When using a credit card to deposit funds, Banc de Binary need an image of the card (both sides). These steps are required by the regulator in order to protect traders, and to ensure their funds are separated and protected.
Withdrawals should be sent out in 5 working days. There is no charge or fee for any withdrawals. ‘Pending’ status withdrawals can also be cancelled, this is useful if funds are needed for trading again.
Banc de Binary delivers these additional features and benefits:
- International reach – Banc de Binary offers trading to over 100 countries, and lists assets from over 30.
- 24/7 trading – Where markets are open, the trading platform will be open.
- Loyalty rewards – The firm offer a number of loyalty rewards to regular traders after sign up.
- Account Types – There are four levels of login account; Bronze, Silver, Gold and Lion Premium. Each level offers further benefits including gifts, trading alerts and private sessions with analysts.
How do they make money?
Banc de Binary offer ‘Over the counter’ binary options, and are the counter party to each trade. If they have traders on each side of any trade, they will profit regardless of the outcome due to the payout being less than 100% to the winner. Where the trade is not covered on both sides, BdB will effectively only profit when the trade loses.
Banc de Binary demo account?
At present Banc de Binary do not currently offer a demo account. They are one of only a few major brokers who do not offer such a service, so we hope they will reconsider this policy soon.
Are Banc de Binary a Scam?
While the brand is not a scam, the process of ‘upselling’ has damaged their reputation. This is where account managers contact clients in order to encourage larger deposits and more trades. This advice is generally not in the best interest of the trader.
This type of behaviour is rare, but traders should be aware of the risk, so that should they receive such a call, they can say “No thanks”.
The withdrawals and trading platform both generate very few complaints, so if the firm were able to stop this practise of upselling, their reputation could be restored.
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a Complete Guide for Binary Options Trading
We have found out that Banc de Binary is closed.
We recommend choosing one of our top binary option brokers instead:
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Try also Binary Option Robot if you are looking for automated binary trading.
If we think about a list of the most trustworthy brokers in terms of withdrawal procedure, then Banc De Binary is surely one of the first choices. This broker knows how to implement innovative technologies and be inventive in creating a safe trading environment. Any trader who plans to deal with this broker will be possible to choose from a variety of withdrawal methods. To be able to keep the customers’ funds safe in a constant manner, the broker implemented advanced safety measures and strategies.
It is rumored that there have been a number of withdrawal issues that the clients experienced before, yet currently such problems and slowdowns are gone. The broker provides the quickest cash out periods when put together with other internet binary options services. Regardless of what the withdrawal sum may be, you should not concern yourself with getting the cash into your account.
You will find a number of payment methods that are meant to satisfy the needs of different clients all over the world. The list includes bank wire transfer, credit/debit card, and electronic payments such as Skrill, yet there are more. It is really not a big deal to perform a withdrawal process – it’s super easy. The cash out time takes approximately 2-3 days based on the particular payment method that you choose.
The quickest method is Skrill, as you can get your money within 60 minutes, which is quite impressive. If you got a bonus with Banc de Binary and want to get it, you should know it is not possible to have it right after it was offered to you. The bonus is designed for practicing binary options trading, so there are particular requirements that you should follow. For example, you should trade 20 times the bonus volume in order to get the bonus amount. If we go back to withdrawal speed, then AlertPay is as fast as Skrill. Anyway, you should check out the rules and requirements for the withdrawal procedure to make sure you will have the payment as soon as possible.
Is Banc De Binary a scam?
With regards to withdrawal procedures, on many occasions the clients find out their broker is a scam only after they have generated some considerable profits and the broker does not want to pay because of different reasons. Well, with Banc de Binary this is not the case, but it is quite natural to be cautious with internet brokers, especially when you don’t really know much info about them. Today, there are many scam services online, so people want to be sure about the broker they choose. We can surely state that we don’t have any issues in relation to Banc de Binary and we don’t consider it to be a scam.
There are lots of scams occurring on the internet, and for this reason it is recommended to keep cautious whenever choosing an internet broker. Even so, you should be aware that Banc de Binary is obviously not one of those brokers. It is an internet binary options service that is already well-known for providing quality and safe trading solutions. Prior to registering their site, it is important to comprehend various characteristics related to this broker.
The broker’s trading platform was developed for both beginner and professional traders. Even if you didn’t have the chance to get familiar with options trading, on this platform you will learn it very quickly. Once you make a deposit of at least $500, you can benefit from the broker’s demo account, which has virtual funds so that you could trade them for practicing. On the demo account, you will note that Banc De Binary platform is simple to utilize. The foundations in various market segments made sure the broker’s great reputation and positive results.
BDB creators knew everything about binary options trading particulars, so it helped them to offer an outstanding trading experience that is secure, legitimate, and adequate to all investors.
The broker was capable of keeping a trustworthy and clear status by delivering relevant details regarding their place and team members. Furthermore, they have acquired several prizes during the past, like BEST BINARY OPTIONS BROKER IN THE MIDDLE EAST 2020, 2020 IAIR AWARD – EXCELLENCE IN BINARY OPTION TRADING.
In addition, they are managed and regulate by CySEC, which is based in Cyprus and is a reputable institution with European recognition. BDB’s license by CySEC is 188/13 and it is not a problem to simply check it. The broker’s customer service is exceptional too, and it’s recommended to get in touch with it individually prior to signing-up the service in order to observe how fast the reply is. In fact, you should know the broker received two awards related to their customer service, one of which is shown above.
Is Banc De Binary Good?
BDB is believed to be a frontrunner and among the greatest online brokers worldwide. They have an impressive selection of underlying assets, high standard platform with great functions for both novice and experienced traders. There is certainly a justification why they have developed so rapidly and received the CySEC authorization. There are approximately 35 000 customers that constantly trade with BDB and their webpage is available in over 100 countries.
The broker offers plenty of functions that the clients really appreciate. For example, it includes totally separated website categories for market analysis and education centre. These are the 2 sections in which the investors can inform themselves regarding everything happening in the markets, as the info is always updating. Traders will also find out about trading procedure, different strategies, and many other characteristics that can direct them in reaching impressive results. Additionally, there are many content materials accessible on their webpage.
Their content is undoubtedly an excellent source for traders who are dealing with issues in comprehending different aspects. Alternatively, their market info offers details like suggestions, calendar, and economic events that are helpful when making some predictions. The broker offers impressive returns without hidden fees.
BDB is certainly among the greatest binary options services out there, so don’t be reluctant to benefit from their unique features. The platform offered by them actually demonstrates this. Additionally, they provide exceptional customer support for their clients. With this service, all of your concerns will be clarified and all of your questions will be answered usually within 24 hours.
Is it legal to trade with Banc De Binary?
BDB experts have developed an advanced platform that is intuitive and simple. The intuitive interface is great for beginners, while the advanced options will benefit more experienced traders. Furthermore, the broker provides many unique advantages and generous bonuses to all the customers no matter where they live. Accordingly, these aspects are essential evidences that the broker is a dedicated one and is a reliable trading opportunity in the internet environment.
If you are unsure about the broker’s reliability, you can simply invest some hours in exploring the web and special binary pages. Well, it is probable that you will find some criticisms against this broker, yet you should not be confused about opting for BDB because of this. You can always find clients who choose to condemn their broker because of the losses that were caused because of their own faults. Sometimes, people get emotional and can exaggerate their impressions.
Banc De Binary, which is a trusted and certified binary options service, is aware of how significant the client approval is. This is why the broker employees who are responsible with client relations are meticulous in directing traders throughout all the steps of signing up and trading procedures.
Banc De Binary Regulated by CySEC
The broker is legally accepted by the Cyprus Securities and Exchange Commission, shortly known as CySEC. In fact, the broker is one of the first to get the CySEC license and it still efficiently implements measures in order to make trading an available experience and really secure for all the traders regardless of their country of origin. The strong reputation is supported by the fact that BDB is among the first brokers regulated in the European Union. It is something that boosts their authority and security precautions too.
Having a CySEC official license means that the clients can regularly report if something is wrong or if they have any issues or questions. It is a clear sign that the broker has nothing to cover from its clients, as opposed to other similar services out there. You should take into account that getting licensed with CySEC is not an easy job. Actually, it is quite complicated, as the regulator recognizes only convincing and genuine brokers. This Commission is famous for its severe rules and restrictions, so you should feel safe.
Cyprus is part of the EU and it is regarded as an important center in banking and trading. This is why CySEC is a gateway in the whole European market, so it does not simply mean a certificate for the Cyprus market. The financial resources are kept as outlined by CySEC’s tight rules and this is exactly why the broker will never impose any extra costs that are visible or hidden.
All of the mentioned above demonstrates the way in which the broker has grown to be committed over the recent past. This service is known to offer the greatest solutions to their clients and to apply security precautions that use advanced technologies.
The clients have nothing to stress with, thinking only about trading issues and developing different strategies. This is surely a great method to generate money and improve personal discipline. These attributes make the broker one of the most preferred worldwide.
Trust Pay AS Banc De Binary
The leader status of this broker is also supported by the fact that it applies effective payment solutions and prompt banking operations to a large number of clients who find BDB’s platform ideal. Banc De Binary makes use of Trust Pay AS, which helps them process the withdrawal demands. It is clear that all the clients would like to find quick payment options from their broker, and Banc De Binary won’t disappoint you in this regard. The prompt manner of payment processing is a big plus for this broker.
Trust Pay AS offers a secure and trustworthy platform meant for payment procedures in the European countries. The broker applies this system for all the payment methods: wire transfers, credit/debit card or e-wallets. Trust Pay AS is compatible with over 60 European banks, making sure BDB clients receive the greatest and most affordable path to unique banking solutions.
The BDB payments via Trust Pay AS are totally safe, which means the clients should not worry about transferring money in and out. The system is certified by the Payment Service Directive (2007/64/EC) and Payment services law (492/2009 Z.Z.). This transparency will help traders have peace of mind about their funds.
The Right Banc De Binary Strategy
The binary options strategy you choose can make the real difference. In fact, each project or job has a precise plan, and binary option trading is not an exception. Because of this, Banc De Binary is ready to provide you with valuable info regarding different strategies that must be applied first. Yet, ultimately, it is the trader who is responsible in applying it properly and successfully.
Both beginners and experienced traders can enjoy the broker’s strategy related content on their website. The guidelines and methods can differ based on trader’s knowledge. Additionally, be ready to read all other e-books that are accessible there. BDB’s guidebook must be the first one.
Besides the basic info about how to trade on their platform, BDB’s e-book also contains special chapters about unique strategies and ideas that will reward traders in the long term. For example, let us discuss one simple strategy:
The fence strategy is ideal for traders who want to risk less. It is about having at least two market entries in different directions, like CALL and PUT. This will help you create something similar to a fence. Here is how it works: when the Strike Price is at $10, you can invest $1000 by clicking CALL with 30 minute expiration time and wait for $850 return. If the price goes up, it is great for you. However, there may be a moment when there is a reversal, and in this case, you can buy a PUT option for an additional $1000, let’s say when the price reaches $15 on its way down. Therefore, the channel between $10 and $15 looks like a fence, and if the price will close in this range, you will get profits from both orders. And, if the price closes below $10 or above $15, you will profit $850 from one of the orders, reducing in this way the losses.
Regardless of what strategy you apply, you should always be ready for market changes.
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