Binary Capital Markets (BinaryCapitalMarkets.com) is one of the newest binary options brokers. Launched in October, 2016, it represents a completely new breed of financial operator, to whom proper regulation and licensing isn’t an evolutionary state, but rather the very first step. In the past, binary options brokers would launch their operations and then after some time, they would look to raise it to another level through regulation. Binary Capital Markets have gotten the licensing hurdle out of their way from the get-go, which is – from a trader’s perspective – the right thing to do indeed.
The operator hasn’t stopped at picking up a CySEC license either. They have registered with a number of other national regulatory agencies, and they have secured a license in Belize too. Their CySEC license is meant to cover their EU-based operations, while the Belize license is aimed at reassuring customers from other parts of the world, including them under its regulatory umbrella. The operation is registered with Italy’s CONSOB, with Germany’s BaFin and the AFM of Netherlands. Britain’s FCA is also on this list.
Above and beyond everything else regulation-wise though, Binary Capital Markets are apparently in talks with a number of US regulatory authorities, to allegedly pick up a US license. If that ever became reality, it would indeed send the broker onto a path to instant greatness, into a legal area no other binary options broker has ever treaded before. That would most probably require the complete overhaul of their business model though, otherwise US regulation may be impossible to attain.
Binary Capital Markets Platform
The BCM platform is a new version of the popular SpotOption software, sporting all the recent updates. It is also highly customizable, as it allows traders to display all the tools they need for proper market analysis, the way they see fit.
There’s a reason why SpotOption is the preferred technology provider of so many binary option brokers: it is fast, it is always on target, and it looks good. Also, it has all the bells and whistles traders may need for their market analysis. Because it’s highly customizable, the SpotOption platform can be adapted to represent the brand of the broker in an original and interesting manner.
The tradable asset selection is outstanding as well. There are around 180 underlying assets, covering all major currency pairs, commodities, indices and stocks. As far as SpotOption goes, this is a standard selection really, but it is very generous from every other point of view. In the commodity department, assets such as Gold, Silver, Oil, Diamond and even Natural Gas, are covered.
The Binary Capital Markets platform is available in mobile versions too and it looks and works just as well on a phone as it does on a PC.
The trading interface is intuitive and sleek. The supported option types are 60 seconds, One Touch, Long Term and classic Put/Call binaries. What this means is that BCM lends itself well to a high number of technical analysis-based trading strategies.
Through the sidebar on the left, traders can view their open and closed positions at the click of a single button and they can access the calendar of various trading events and special offers too.
To round out the picture, a demo account is also available, to take traders through the steps one by one, without requiring them to put a single dime into harm’s way.
Binary Capital Markets Account Types
BCM support no fewer than four different account types, all of them offering different perks and requiring different deposit amounts. As said above, the minimum required deposit at the site is $250. Those who take the cautious approach and deposit exactly that much, will fall into the Silver account category. Everyone whose deposit falls under $5,000 will also fall into this account-category.
Silver account holders will benefit from 24/7 Customer Service, and they will have their same-day approved withdrawals processed within 3 business days. They will also gain access to the demo account (those who do not make an actual deposit, will not be able to make use of it) and they will receive a binary options eBook dealing with some of the basic concepts on which the activity is based.
In addition to everything else, BCM also give their silver account holders a 25% match bonus on their deposits. This part of the deal is an interesting one to say the least, especially in light of how keen the operator is on regulation. According to the ESMA’s latest directives, to which CySEC subscribes as well, binary options operators should terminate all such bonus deals. For the time being though, BCM do actually offer such bonuses.
The Gold Account is apparently the most popular option for traders. The minimum deposit for such an account is set to $5,000. Gold account holders gain access to everything Silver account holders get, plus they get Event Trading, and up to $2.5k in rewards. When it comes to bonuses, their match percentage is 50%.
The Platinum account is probably out of the reach of most traders. With a minimum deposit of $25,000, it is indeed quite an expensive proposition. It gives traders all the perks covered by the Gold account, plus it raises the cap on rewards all the way to $25,000. In addition to that, the match percentage on deposits is raised to 100%.
The VIP account represents an entirely different trading ballgame. The minimum required deposit on this is $250,000, and it comes with all the perks the operation can currently muster. That means that in addition to all the above, VIP account holders get free trading signals, complete money management services, as well as a 24/7 dedicated account manager.
Getting Started with Binary Capital Markets
Setting up a personal trading account with Binary Capital Markets is as easy as 1-2-3. All one needs to do after signing up here is to provide some personal details through a form, after which a password needs to be set and the desired currency needs to be selected. Before one can make a deposit though, he/she will be required to jump through some KYC policy hoops. That translates to the delivery of a number of documents as proof of identity and proof of residence. Only when one’s account has been verified this way, will one be able to make an actual deposit. This is when one’s account-type category is established.
Automated Trading Software
This is a rather touchy issue, since Auto-trading and various 3rd party auto-trading solutions have become equivalent to scams. Still, many traders want to use legitimate auto traders with their account, to get some of the nitty-gritty work off their shoulders. Such traders will be glad to learn that almost every SpotOption broker accepts some auto-trading solutions. Be extremely cautious with auto-traders that are advertised as get-rich-quick with little-to-no-effort solutions. Such auto-traders are scams almost without an exception.
Binary Capital Markets Support
Binary Capital Markets support can be reached 24/7 through email and live chat. There’s an internal ticketing system in place to help with the quick resolution of problems traders may encounter. The support staff is knowledgeable and keen to help, and response times are good. There’s also local toll-free phone support.
Binary Capital Markets Banking
In order to give their traders the best possible banking services, BCM have teamed up with major financial operators like the Royal Bank of Scotland, Deutsche Bank and Barclays. Their deposit and withdrawal methods include a number of popular ewallets too, and all their transactions take place over SSL connections, for maximum protection.
Binary Capital Markets Review Conclusion
To make a long story short, Binary Capital Markets have apparently realized that the road to binary options success leads through the personal success of their own traders, and through keen regulation, of course. What the site currently offers is pretty standard in terms of actual services. Regulation-wise though, the operation is light-years ahead of most of its peers. It’s really worth keeping an eye on their efforts focused on US regulation. One thing is certain: if they want to break into the US market, they will have to go through a platform approved by the US financial authorities, and that means radically altering their current business model.
Looking for a good binary options broker? Visit our Getting Started with Binary Options guide.