Update on Binary Options Broker Banc De Binary
Banc De Binary, one of the largest global binary options brokers, closed its operations in March 2017, liquidating its business and leaving the binary options industry forever.
A senior official of this binary options provider has confirmed the news, explaining that the movement was taken by the owners of the company after the systematically negative press that this broker faced during the past year. This was largely due to the complaints of a large number of clients who alleged unfair and unethical treatment, and even practices that we may describe as illegal and that led to the loss of confidence on the part of potential clients.
The problems were seen to come when Banc de Binary decided to give up its CySEC CIF license due to regular penalties for bad practices.
A senior official of this binary options provider has confirmed the news, explaining that the movement was taken by the owners of the company after the systematically negative press that this broker faced during the past year. This was largely due to the complaints of a large number of clients who alleged unfair and unethical treatment, and even practices that we may describe as illegal and that led to the loss of confidence on the part of potential clients.
The problems were seen to come when Banc de Binary decided to give up its CySEC CIF license due to regular penalties for bad practices.
Type of Broker
Banc De Binary is a Binary Options Broker.
Country of origin
The headquarters of this broker are located in St. Vincent & Grenadines.
Regulation
For the moment this broker has no regulation.
Underlying Assets
Banc De Binary offer the possibility to trade with Binary Options based on the following 79 underlying assets:
- Forex Market: 12 different currency pairs of the Forex market, including the most important like the EUR/USD, GBP/USD and USD/JPY and other more exotic like the USD/SGD among other.
- Indices: 20 of the most important stock indices of the market. In this case the trader has the possibility to trade with options based on the S&P 500, Dow Jones, Nikkei 225, FTSE 100, ASX, Hang Seng, CAC 40 and Bombay SE among other.
- Commodities: 8 of the most important and traded commodities in the market including gold, silver, oil, platinum, coffee and sugar.
- Stocks: 39 of the main stocks from the US market, the European market and the Asian market, including IBM, Apple, Google, BP, Vodafone, BAE Systems, and Toyota among other.
Types of Binary Options
Banc De Binary allows to trade with the following types of binary options:
- High/Low Binary Options: This is the most common and traded type of binary option thanks to its simplicity and the high and fast income that offer. In this case, the trader only has to determine if the price of the underlying asset is going to be up or down once the option expires. The expiration period of the options offered by Banc De Binary is 1 hour.
- One Touch Binary Options: In this type of option, the trader must determine if the underlying asset price is going to touch or not a particular price level before the end of the expiration period of the option. The maturity of One Touch options can last several days, so they offer a higher yield (up to 500% of the option inversion) compared to the High/Low options.
- 60 seconds Options: These are High/Low binary options that have an expiry period of just 60 seconds which allows the trader to perform that that take advantage of the micro-movements of the market. In other words these are fast in and out trades.
- Custom Options *: Banc De Binary has a unique tool among the Binary Options broker. This function called “Option Builder” offers the possibility to design and customize the Binary Options with which the client trade, so the trader can customize its trades by selecting different combinations of variables. In this way the traders can create an ideal option that is completely adapted to their trading strategy. To use this function, the client should take the following steps:
- Select the underlying asset.
- Choosing the expiration period of the option.
- Choosing between the different values of benefits and risks offered by Banc De Binary, selecting one that best suits the trader’s preference.
*The performance offered by the custom options depends on the combinations of variables selected by the trade
Payments Offered by Banc De Binary
-If the call or put options expires “In the money”, Banc De Binary pays from 65%-85% of the contract inversion for the High/Low options.
-For One Touch options, the payment can be up to 500% of the option inversion.
Trading Accounts
This broker offers 4 types of trading accounts with the following features:
-Micro Silver Account: It is the basic trading account of Banc De Binary and requires a minimum deposit of $500. It allows to trade with options based on all underlying assets offered by the broker and all its trading platforms. This account provides full access to news and market analysis and research.
-Gold Standard Account: It is a type of account designed for more experienced traders in the market which requires a minimum deposit of $2500. In addition to offering the same benefits as the Silver Micro Accounts, it also has additional ones such as full access to the customer service of Banc De Binary.
-Gold Standard Account: It is a type of account designed for more experienced traders in the market which requires a minimum deposit of $2500. In addition to offering the same benefits as the Silver Micro Accounts, it also has additional ones such as full access to the customer service of Banc De Binary.
-Personal Broker Reserved Account: This account which requires a minimum deposit of $5000 was created for experienced investors with more experience in the market . It offers the customer all the services and advantages of the Gold Standard Account, plus direct access to own Personal Broker via telephone, email or chat. Likewise, the trader has access to the team of analysts working for this broker.
-VIP Lions Club Account: It is an account designed for large investors interested in trading with options. It requires a minimum deposit of $50000 and it offers all kinds of services and additional benefits to customers of this company such as trading signals, a dedicated team of analysts, money management, education classes on the market, preferential access to all contracts of options, the debit card of Banc De Binary for withdrawals and a service tailored to the needs of the trader.
Trading Platform
Banc De Binary offers 4 types of trading platforms with the following features:
-Digital Option Pro: This is the regular trading platform of Banc De Binary. This online application is a web based platform (no download is required) designed to trade with High/Low binary options and it is characterized by its simplicity and ease of use. Once the position is open (the option is purchased), the platform monitors the operation and close the position automatically without the need of trader intervention at any time. The system sends notifications via e-mail regarding the outcome of each operation.
-Option Builder: This platform allows customers to design their own custom options according to their personal style of trading. The trader can choose the time of expiration of the option, the level of risk of the transaction, the underlying asset and the amount to invest. This online application allows the customers of this broker to implement trading strategies that best fit their style to trade in the market.
-One Touch Platform: This online trading platform is designed specifically to trade with One Touch options. Because these are options with a higher expiration time and payout compared with the High/Low options, this application works a little differently from the rest of trading platforms of this broker. However, it is also characterized by its simplicity and ease of use. Because these options expire on Friday each week, once a trader opens a position, the system manages the trade automatically and check if the option expired “In The Money” at the end of each day.
-Binary Meta: It is the newest and most advanced trading platform of Banc De Binary. This online application provides more features than traditional platforms designed to trade with binary options. For example, it has several analysis tools which allow to track the price behavior of a particular asset. In addition, the trader can follow the options purchased directly on the price chart to see the performance of each trade. This also allows to analyze all possibilities and make decisions in real time, making the Binary Meta one of the most advanced platforms in the industry.
Demo Account
It offers a demo account with $50 000 of virtual funds.
Payment Options
-The customer of Banc De Binary can deposit/withdrawal funds by Bank Wire Transfer, Credit Card (the most important like Mastercard and VISA) and Skrill.
Main Advantages of Banc De Binary
- Banc De Binary is a professional binary options broker which offers a lot of services for beginners and professional traders.
- It offers the possibility to open a demo account with no limit of time.
- This company offers regular bonuses for new clients that open a trading account and deposit funds . Also, there are bonuses packages for regular clients.
- This broker has a good customer service through e-mail, telephone and chat in the website of the company. This chat can be accessed 24 hours a day.
- Banc De Binary offers a lot of underlying assets to trade with Binary Options, such as currency pairs, stocks, indices and commodities.
- The trading accounts can be opened in euros and US dollars.
- No commissions and no fees of any kind.
- It offers various trading accounts and trading platforms.
- This broker offers a unique feature among companies of its kind, which is the possibility to create custom options through the use of different combinations of variables (underlying assets, end of expiration periods, etc.).
- Through its website, Banc De Binary offers free market analysis tools including an economic calendar a Fibonacci calculator, live market hours and the BDB Radio, which offers which provides daily, weekly and special analysis and reports on the markets.
- This broker offers free education on binary options through its website. It also has a free e-book dedicated to binary options which includes the most important aspects related to these investment instruments.
- The broker’s customers can get personal assistance from dedicated account managers whose role is to provide the necessary assistance, especially to novice traders with little knowledge of binary options. This assistance includes constant training and customer support through online seminars and personal training one on one.
- It has an Education blog with updates on the market.
- This broker offers an interest rate of 2.5% for trading funds that customers keep in their accounts.
- Banc De Binary offers the possibility to earn money by promoting its services as a Binary Options broker through an associated affiliate program called Banc De Binary Affiliate Program and other affiliate programs like VipAffiliates.
Main Brokers Offers
Banc De Binary offers interesting bonuses for new and regular clients. These bonuses depends on the amount of money deposited by the clients in their accounts.
- Currently it offers a bonus for every deposit made by the client (new and regular clients) up to 50%.
