Binary-Banc Review

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Binary-Banc Home Page Screenshot
Broker Binary-Banc
US Traders Accepted
Headquarters Nicosia, Cyprus
Max Payout 75%
Out-of-Money Reward 10%
Regulation No
Minimum Age 18
Trading Platform SpotOption
Deposit Options US Dollar, Euro
Deposit Currencies Credit/debit cards, CashU, wire transfer, Skrill, Nordea, iDEAL
Minimum Deposit $100
Minimum Trade $10
Maximum Trade $1,000
Online Since 2011
Trading Instruments Forex, Commodities, Stocks, Indices
Number of Trading Instruments 81
Binary Option Types Call/Put Options, One Touch, Option Builder, 60 seconds
Customer Support Types Online chat service (not working), email support (bounces back), telephone calls to their satellite offices
Education Offered Demo video, How-to-trade tutorial
Tools Offered Daily Market Review, Weekly Market Review, Expiry Rates, Live Finance News
Commission $25 fee for wire transfer withdrawal
Languages English, German
Demo Account No

Review by BinaryTrading.com

All traders see binary options trading as a lucrative option of making money fast. This is the reason why they take enough care in selecting a binary options broker, and expect the broker to extend the needful assistance to them when needed. If tested on this criterion, Binary-Banc can be particularly identified for their poor communication system. Their online chat service doesn’t work and e-mail bounces back, and to avail their assistance, one needs to make calls to their satellite offices. When they are claiming to provide trading services in the online environment, they could have a better online support service for their clients. However, the good thing is that they provide the SpotOption trading platform to their clients, which is a well-known trading platform in the industry. Several brokers use SpotOption. So for many experienced traders, it’s not a new trading platform. But it’s doubtful that Binary-Banc will be able to attract new investors to start trading with them. A newbie in the world of binary options trading may have lots many doubts and queries, and would probably fail to find a way with Binary-Banc to get answers to all their queries. Moreover, they do not offer a demo account so that a new trader can gain some familiarity of the platform before starting business with them.

Binary-Banc is the brand name of ChargeXP Investments Ltd, which is a Cyprus based company. There is no data that the company is regulated by any authority. An unregulated company with a poor communication system will hardly appeal investors and traders to initiate a business relationship with them. But there is one thing that could appeal many investors, and that is the diverse range of assets that they have in their portfolio. They offer more than eighty financial instruments from different financial markets, and for many traders this could be a good opportunity to access global financial markets and start trading in a wide variety of assets. Moreover, one will need just 100 US dollars or 100 Euros to fund their account and start trading with them. The opportunity of using an advanced 100% web-based platform like SpotOption by investing such a small amount may draw many small investors towards Binary-Banc.

With Binary-Banc, communication seems not a main concern to impress the traders and investors, as they support only two languages English and German. While many brokers try to offer support in several languages with an attempt to lure traders from various parts of the world, Binary-Banc’s dependence on just two languages could prove a limitation for the traders who prefer other languages than English and German. But when it comes to offering money depositing facilities, they offer several options including credit cards, wire transfer, CashU etc, and a trader can choose a preferred method as per his suitability.

Trading Choices

Binary-Banc has an impressive portfolio of 81 financial instruments from global financial markets. Thus, a trader can get a wide variety of trading options with an expected return ranging between 65% and 75%. Traders can also get a maximum out of money reward of 10%, if they fail to make correct predictions on their chosen assets. Thus, a trader can use Binary-Banc to earn a profit of up to 75% by investing in their traditional Call Option or Put Option. While an investor with a big earning in his mind can take advantage of their One Touch trading opportunity, which can bring them a profit of up to 400%. Binary-Banc also offers traders “Option Builder” trading opportunity where a trader can customize his trading choices and can make a maximum profit of up to 70%. A trader who is interested in making money very fast can use Binary-Banc’s 60 seconds, which can offer them a maximum payout of 72% in just 60 seconds.

Bonus & Earnings

Binary-Banc is not a very impressive broker, when it comes to offering bonuses to their clients. They do not offer any bonus on first deposits, which several brokers in the industry offer to their clients in order to draw new trader’s attention and grow their client base. With Binary-Banc, bonuses are only onetime trading credits, which would be available to the traders as a part of their promotional offers. However, for many traders earning bonuses and withdrawing them would not be that easier. Binary-Banc bonus withdrawal policy requires that a trader will have to execute a minimum trading of 30 times of the earned bonus, in order to withdraw it. So, any trader willing to earn bonus with Binary-Banc must develop the familiarity of their terms and conditions, and must be ready to meet the terms in order to withdraw the bonus amount from them.

Technical Analysis

This is yet another area where Binary-Banc may fail to impress the traders. While many brokers try to offer a wide variety of technical analysis and tools to their clients, Binary-Banc just has Daily Market Review, Weekly Market Review and Expiry Rates. They also provide Live Finance News to the traders with an objective of updating them with the new market developments. But more experienced traders may require historical data and charts for better decision-making, where Binary-Banc may not prove much helpful.

Learning & Support

The poor support features of Binary-Banc have already been discussed above, and when it comes to offering learning resources, they do not offer anything significant either. They just have a Demo video and a How to Trade Tutorial on their website, which may not be sufficient to educate someone who is new in the world of binary trading. Interestingly, there are several other brokers who make a great deal of effort to educate investors and include several types of educational resources on their websites. Thus, one who wants to learn more about binary options trading would prefer to take advantage of those resources and appreciate the efforts of those helpful brokers. Binary-Banc has educational resources that would leave many questions answered when a trader would try to learn the binary options trading. Moreover, Binary-Banc does not offer friendly customer support to help clear all the doubts that a trader may have in mind while using their platform. In such a scenario, very few new traders would be attracted towards them and would prefer using their services.

Conclusion

There could be several reasons that may restrict a trader to choose Binary-Banc for trading binary options. They do not have an efficient support system in place and are not a regulated company. Neither they offer a wide variety of technical tools nor do they provide significant learning resources to the newbie traders. However, they have an impressive portfolio containing 81 financial assets from different markets, and offer the well-known SpotOption trading platform. An experienced trader may find them perfect to access a wide variety of assets from different markets. On the other hand, a newbie trader can only get lured by their minimum deposit amount for funding account, which is only $100.

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