BinaryCM, also known as “Binary Capital Markets,” is a binary options broker based in Limassol, Cyprus. If you have been looking for a regulated broker which goes the extra mile to take care of its customers, BinaryCM looks to be a site well worthy of your consideration.
The company that owns and operates BinaryCM is called G.S.E. Golden Sky Europe Limited. They are regulated by CySEC under license #293/16. Additionally, they list a ton of other regulators here. They are registered with every one of them. This is really quite astonishing considering that many brokers are not regulated at all.
Unfortunately, they are not regulated by the CFTC and do not take customers from the USA (the site does not even load in the US). If you try to access the site from the USA, you get redirected to https://us.binarycm.com/, which says, “US is under Construction.” This may indicate that BinaryCM does intend to expand to offer services in America.
Opening Your BinaryCM Account
When you open your account on BinaryCM, you need to deposit a minimum of €250 or the equivalent in your currency (currencies accepted include US Dollar, British Pound, and Euro). You can make your deposit using credit or debit card, wire transfer, Skrill, iDEAL, paysafecard, or SOFORT.
There are four account tiers:
- Basic: €250+
- Silver: €2,500+
- Gold: €10,000+
- Premier: €25,000+
At the Basic level, the benefits are actually pretty good. You get 24/7 customer service, three lessons from the education library, a free eBook, access to a demo account (you have to contact customer service about this), and daily market reviews.
At the next level up (Silver), you can add on event trading, a direct line to your account executive, 4 more lessons from the educational library, a month of trading signals, two 1-on-1 educational sessions and unlimited free monthly webinars. Gold customers get trading alerts and event analysis along with unlimited access to the education library. At the Premier level, you can tack on more 1-on-1 courses along with higher trading limits and access to the premium trading room.
BinaryCM is quite generous with features, as you can see. One thing you will not see on this site however are bonuses. Bonuses are practically ubiquitous throughout the binary options industry: “Deposit $100, get $200 free!” offers and so on. BinaryCM specifically states in their terms of service that they do not make these offers available.
I encourage you not to see this as a drawback. In reality, if anything, it is a positive, not a negative. A lot of customers get trapped by bonuses, because they do not understand their high turnover requirements and other limitations and restrictions. That is not going to happen on BinaryCM, and that is a good thing. The trading signals, demo account, and other features offered by this company are far more valuable.
One drawback is the area of fees. The minimum withdrawal amount is €50. There is a flat fee of 3.5% for all withdrawals made by credit card. For Skrill, you pay a 2.5% fee, and for Neteller, that jumps up to 3.5%. This is not terrible, but obviously fee-free withdrawals are more desirable.
There is also a €55 monthly fee on dormant accounts. The company considers your account to be dormant after just three months, so if you do plan to take some time off from trading, you probably should withdraw your funds first (or contact customer service and see what they can do) so you do not get charged.
Trading on BinaryCM’s Proprietary Platform
BinaryCM has their own proprietary platform. Visually speaking, it is quite impressive. The colors have a high contrast, but they are easy on the eyes. Finding your way around is effortless. It is as easy to use as SpotOption or any of the other popular white label platforms. You can trade on your desktop or laptop.
There are 67 currencies, commodities, indices, and stocks to trade on BinaryCM. Types of options include High/Low, Sixty Seconds, Long Term and One Touch. This is not a huge selection, but it is pretty average. The maximum payout on trades is 90%, which is quite competitive considering that many other brokers offer payouts closer to 75-85%.
The minimum trade size is $10, and the maximum trade size is $2,000 (to start with—remember, you can get a higher ceiling if you deposit more money). This is a nice range, as many other brokers start out traders with $25 as the minimum investment size—which frankly is too much for those with smaller accounts. As your account grows, the maximum trade size does too, so the $2,000 should not ultimately be too restrictive.
You already know that there are many tools available to help you with your education and your trading on BinaryCM. What about customer service? If you need to talk to someone, you can reach the company via live chat, telephone, email or paper mail. For whatever reason, they do not have a web form on their site, but it only takes a couple extra minutes to send an email. Remember, if you have a Silver account or higher, you also have a direct line to your account executive.
Conclusion: BinaryCM Is a Highly Regulated, High-Quality Broker
BinaryCM has its flaws, just like any other binary options broker. They impose fees on all withdrawals, regardless of the method you use, and some customers will be unhappy that there are no bonuses. Still, these flaws are quite minor in the grand scheme of things, and BinaryCM offers a lot of advantages to customers. In an industry where trust is hard to come by, a broker which works with numerous regulatory bodies is a rarity. BinaryCM offers that trust in conjunction with an abundance of educational resources and tools. So if you have been searching for a reliable, feature-rich broker, think about trading with BinaryCM.