For a long time, Banc de Binary has more or less controlled the market for binary options. There simply was hardly any broker which was able to stand up to Banc de Binary. Their most important factor of success was reliability, what they were really able to convey to their traders. Well, there was another factor of success and its name is USA. As you might already know, the US market for binary options was first not regulated there. Later, the lobby of already established finance markets increased more and more and finally, it was achieved that you were only allowed to offer trade with an appropriate licence. However, it is often the case that lobbies actually only want to enforce their interests. The Nadex, that is the market for derivatives where binary options are also included, is -according to the lobbies- supposed to be the only trading place. And then, they warn you of fraudulent websites in order to justify that. This development is anything but positive for traders. A market full of competition is always the best for us traders – a monopoly for sure isn’t. But that is how things are and we cannot change them.
As a matter of fact, this is the reason why Banc de Binary had to quit the US market. And that really hurt! Because Banc de Binary was huge there and they had hundred thousands of active traders in the US. Every broker was envious of their figures and all of a sudden, Banc de Binary was gone. However, one year after quitting the US market, you can say that Banc de Binary has recovered pretty fast. They have immediately concentrated on Europe, especially Germany, and meanwhile, they are an entrenched power there. Banc de Binary is therefore one of my absolutely favourite brokers and there are a few reasons for that:
- for me, Banc de Binary is still one of the most reliable brokers. And the reason for that is not the fact that “Banc” is a part of their name, but rather the fact that from the very beginning, they have attached great importance to proper regulations and licencing. They were one of the first brokers with a EU licence and they established in the UK (before, it was the Wall Street…)
- you can really notice that they are focused on the German market. That is why this is one of the few brokers that really has a well translated website.
- the software is just super awesome and above all, easy to handle. There is nothing what you cannot understand and what I like best with Banc de Binary, is the colour design that makes trading a lot easier. Other brokers often stagnate when it comes to appealing designs and especially use colours that they like instead of colours that make trading easier for the trader. Just have a look:
Of course, there are a few aspects which are not totally awesome. Every single broker has its weaknesses and Banc de Binary is no exception here. The aspect I do not like that much is the payout, respectively the return. With other brokers, such as 24Option, for example, the payout is a bit higher. But you always have to come to a compromise and those of you who do not trade that often and with huge amounts, actually do not need to care too much about the return. Indeed, I prefer feeling 100 % comfortable with a broker than -with a return of already 1000 Euros – getting 5 Euros more with another broker …
Then, there are a few minor things I do not really like, for example this one:
Other brokers (and that is usually the case on the Internet) immediately recognize which country the website visitor is from and displays the website in the right language. Here, you seriously have to choose Germany from the list, that means first search it and then, click on it. I am sorry, Banc de Binary, but that sucks!
Apart from that, I can rate this website “OK”. Sure, it is not perfect and sometimes you even find the original text in English instead of the German translation which is another negative aspect. But just get an idea of the website yourself!