Banc de Binary Review
Our team has properly researched and conducted multiple trial runs of Banc de Binary’s trading platform to analyze and confirm the credibility of their services as a binary options broker. Scam-rank has dissected the performance of their trading platform, deposit and withdrawal methods to provide fellow traders an objective review of Banc de Binary’s integrity as a broker.
Review Verdict: The good news is that Banc De Binary is NOT a Scam.
Is Banc de Binary a Legit Or Scam?
Banc de Binary was founded in 2008 and is one of the first established and regulated binary options brokers to provide a trading platform where traders could invest. They are a well-respected leader in the market with clients from over 80 countries worldwide – and have more than 250,000 binary trading clients. Additionally, we report to you that Banc de Binary is a regulated broker from CySEC under the License No 188/13 as of 2013. This broker is also qualified with the FCA in the United Kingdom and AMF in France. Rest assured for all interested traders.
It has been verified that Banc de Binary is a multi-award winning company that retains a consistent reputation for offering its clients exceptionally high-quality customer service with an above average experience. In 2013, they received an award for their trading platform, and in 2015, they were credited as the Best Overall Broker. With so much competition out there, it’s not easy to gain AND keep a high-standing reputation. Based on these findings we can confirm that Banc de Binary is a credible and trustworthy broker.
We can’t say we didn’t find complaints, but the ones we found were not sincere or consistent enough to consider for a bad review. As this broker has been in business for 7 years, they have had a small share of clients that took it upon themselves to partake in higher risk trades, and once they lost their investment, they blamed the company. Such cases are NOT the company’s fault, but the individual trader’s responsibility. Therefore, we do not consider these as qualified and integral complaints.
The Banc de Binary Platform
Banc de Binary features one of the latest and most popular SpotOption trading platforms. Many excellent and reliable brokers use this platform as it is well recognized for being easy to learn and simple for beginners to adopt.
The broker offers its clients a repertoire of more than 200 assets to place trades in. Some of the most sought after assets are Coca-Cola, Apple, Gold, USD/GBP, just to list a few. The platform is all web-based; therefore a trader doesn’t have to download the software. Banc de Binary also keeps their game up by updating their platform with new features and tools such as Option Builder to customize trades, Double-up, Early Closure, Roll Over and the Ladder trade option. The trading platform can also be accessed via a mobile device, so you are not limited to ONLY trading from your computer – you can invest on-the-go (very savvy, might we add).
Also, when a client opens and activates an account, they receive access to the ZuluTrade tool that lets users copy and track the top performing traders’ strategies to adopt as their own.
Banc de Binary Account Levels & Bonuses
Banc de Binary offers different account levels depending on the investor’s initial deposit and preferences. Additionally, each account type has various attractive perks and benefits for traders to take advantage of.
- Bronze Account Min. $250. Includes daily market updates, financial data and access to webinars twice a month.
- Silver Account Min. $2,500. Includes trading alerts and event analysis to traders, bonus loyalty store gift, 10 days of a direct contact line to an account manager, plus 1 month of free trading signals.
- Gold Account Min. $5,000. Includes an extra 2 months of trading signals, protected bonus trades, account manager support, and tactics for money management.
- Premium Account Min. $10,000. Includes accelerated withdrawals and first access to all option contracts.
- Platinum Account Min. $25,000. Includes premium trade room access, invitations to private VIP happenings and 2-3% higher payouts.
Banc De Binary knows how to get on its clients’ good side with its various bonuses. They provide welcome bonuses to new traders, and they also have a referral program that rewards its clients every time their referral signs up and makes a deposit. You can also speak to an account manager to inquire and find out about upcoming special events to participate in.
The Banc De Binary account managers are very professional in informing you about their bonus policy regarding the terms and conditions you need to be aware of before accepting bonuses. For instance, you may need to make a certain amount of trades in relation to your initial deposit to withdraw funds; however, your manager will give you all the information upfront. For newbies, accepting bonuses are not mandatory. You have complete control and management to accept applying a bonus or not to your account.
Banc de Binary Bonus Protected Trades
Banc de Binary offers something extremely unique in comparison to its competitors – Protected Trades.
They promote this under their bonuses as Protected Trades with returns up to 90%. This means that if you trade with protected bonus trades, you can have numerous positions open with no option to lose. Depending on the account level you choose to go with, will reflect the number of protected trades available to you. After every successful trade, they offer payouts ranging from 70% up to 90%, but if you lose, Banc de Binary covers your losses COMPLETELY! Although they don’t offer a demo account just yet, this is the next best thing as a great bonus.
Broker Insight: Many established binary options brokers like Banc de Binary usually don’t provide demo accounts because they are reputable in the industry. Their platform is highly-reviewed, and the account advisors are very professional, hence why there is no questioning the company’s performance.
- Free Sign Up – Open a free account with Banc De Binary just by providing a few details.
- Invest & Trade – You need to register and provide an initial deposit to access the platform’s dashboard to begin trading. There are numerous tools, tutorials and educational materials readily available to help achieve profitable results.
- Withdrawal – All you have to do is request a withdrawal and then you’ll receive your earnings.
Deposit & Withdrawal Procedure
Just like in the case of most brokers, Banc De Binary has a minimum deposit of $250 to begin placing trades via the platform. Make sure you choose the appropriate currency – USD, EUR or GBP – to apply to your account because you will not be able to change this in the future. They also offer a minimum trade of ONLY $1 with a maximum investment of $6,000. This means with $1 trades, you can place a hefty amount of trades with LESS risk.
Both deposits and withdrawals can be conducted through any of the following methods: Major credit cards, Skrill, Wire transfer, Money Gram, and Western Union.
Banc de Binary has a quick withdrawal process – and no fees. You may only experience a fee charge from your bank according to the transaction being handled. This broker also offers one of the lowest withdrawal amounts beginning at $50, but the time it takes to actually see your funds in your bank account depends solely on your chosen payment method. For example, credit cards usually take 2 days or so, while bank wires take longer. Compared to many binary brokers on the market, Banc de Binary is at the top of their game.
How Attentive is Customer Support?
We found Banc De Binary’s customer support to be very responsive and detailed as per our investigation and other client feedback. The website and trading platform are presented in 9 different languages: English, French, German, Spanish, Italian, Russian, Arabic and Portuguese.
The physical address of the broker is Kanika International Business Centre, office 401, Profiti Ilias 4, Germasogeia 4046, Limassol, Cyprus. You can contact their Customer Support team via live chat, Skype, telephone +44 207 099 2097, and email at email@example.com. We recommend their live chat or email for the best customer support to attain fast assistance.
The Final Verdict
Overall, Banc de Binary provides a very secure and reliable trading environment to its customers with a popular platform that is infamous for its simplicity and intuitiveness. We have concluded Banc de Binary’s practices are upfront and honest after our investigations and test runs.
The most distinct and unique features that differentiate itself from other brokers are its protected trade bonuses, a minimum trading size of $1, and high payouts of up to 90%.
Your investment is safe with this broker as they are regulated by CySec, and are one of the first ever brokers that released their platform in the binary options industry. Since 2008, they have received numerous awards for their services and performance. They currently are still experiencing growth at a rapid rate and have traders from over 80 countries around the globe.
Banc de Binary is highly recommended for newbies as well as expert traders. We can firmly say that it is one of the most impressive brokers that we have come across for trading binary options.
- User-Friendly Platform
- Licensed and Regulated
- Protected Trades for Risk Management
- Quick Withdrawal
- Up To A 91% Max. Trading Rate
- No Trading Insurance