Frequently Asked Questions
What is a Binary Option?
A binary option is a trade with two possible outcomes, based on an asset, where the price, expiration, and payout are fixed at the start of the contract.
What is an asset?
An asset is the stock, currency, index or commodity on which the option contract is based. (example: the EUR/USD (the Euro and US dollar)) can act as the asset for an option.
What is a Call option?
A Call option earns you a profit when the asset price at expiry time is higher than the purchase price. For Ex: If you buy Google (GOOG) at 618.48 at 10:00 AM and choose that it will be higher than 618.48 at 11:00 AM. If it is higher than 618.48 at 11:00 AM - you have made a profit.
What is a Put option?
A Put option earns you a profit when the asset price at expiry time is lower then the purchase price. For Ex: If you buy Google (GOOG) at 618.48 at 10:00 AM and choose that it will be lower than 618.48 at 11:00 AM. If it is lower than 618.48 at 11:00 AM - you have made a profit.
What is out-of-the-money?
In the case of a Call option out-of-the-money means that the asset price closed below the purchase price. A 'Low' option is out-of-the-money when the asset price closes above the purchase price. A Call or Put option that is out-of-the-money will result in a loss to the trader.
What is in-the-money?
In-the-money means that in the case of a Call option the asset price closed above the purchase price. A 'Low' option finishes In-the-money when the asset price closes below the purchase price. A Call or Put option that is in-the-money will earn the trader a profit.
What is at-the-money?
At-the-money is when the asset price closes at the same price it was purchased. In this case, the full purchase amount will be returned to you.
What is the expiry time?
The expiry time is the pre-determined time that an option ends with the result of in-the-money or out of-the-money.
What is the expiry date?
The expiry time is the pre-determined date that an option closes with the result of in-the-money or out of-the-money.
What is the time zone of the expiry time?
The time on the site is based on GMT time
What is the maximum trade amount?
The maximum trade amount is $1000. There is no limit to the number of trades you can make. For Ex: If you want to buy Google (GOOG) for $2000 you can place 2 trades of $1000 each.
What is the minimum trade amount?
The minimum trade amount is $1
How can I see my trading history?
All of your trades can be viewed by selecting the "My Trades" tab. You can also sort your trades.
What assets are available?
The assets that are available to trade are a wide range of Currency Pairs (Forex), Commodities, Indices and Stocks.
How do payouts work?
Payouts can be between 65% and 85% of the initial investment when a option closes in-the-money, dependent on whether trade insurance is placed
How can I register?
Registration is possible through the Open Account page. Fill in the following details: First name, Last name, phone number and e-mail. For your convenience, click here to register
Do I have to deposit money for registration?
No, you do not have to deposit money to register.
Is there a demo for your site?
Yes, you can sign up for a demo account and receive $500 of play money to trade with.
How can I update my Personal Information
Your personal details can be updated by clicking on "My profile" and then clicking on the "Personal Details" tab.
How can I view my balance?
The balance is always displayed on top of trading page.
What is the maximum deposit amount?
For client safety we have capped deposits via card processing at 1000 pounds/dollars/euros per transaction. On bank transfers clients have no limitations on deposit amounts and BinaTrades will only accept transactions in pounds/dollars/euros
What is the minimum deposit amount?
The minimum deposit amount is 20 dollars per transaction.
How can I deposit money?
You can deposit money by Credit Card or Wire (bank) Transfer. There will be additional funding options in the future.
What is a SWIFT code and IBAN code?
A SWIFT code is the unique identification code that is used when transferring money between banks. Every bank has its own SWIFT code. Bank Wires transfers will not be able to be processed without a SWIFT code. Call your bank to get your SWIFT code for placing a deposit or withdrawal request by bank wire. A IBAN code is a unique international bank account number that identifies your account with your bank and all banks require this to make international payments. A Bank Wire transfer will not be able to be processed without a IBAN code.
Are payouts taxable?
We do not charge tax from your profits. You should check your local tax rules and regulations.
Which currencies can I use to fund my account?
You can fund your account with USD/Indonesia Rupiah at this moment.
How can I withdraw my profits?
Withdrawal of your profits can be done in two ways. Refunding your credit card, wire transfer to your bank account.
Can I cancel a withdrawal request?
Withdrawals can be cancelled as long as you haven't yet received withdrawal approval by email.
How do I know that my funds are safe?
Your funds are protected by Comodo SSL and held in a separate account by the billing company
Is there a minimum withdrawal amount?
You may withdraw any amount up to your remaining balance, but amount that doesn't meet the minimum requirement may be subjected to a processing fee.
Do I have to download any software in order to trade?
No. All of the platforms are web based and no download or installation is required for trading.
I forgot my login or password, what should I do?
You can reset your password by clicking on this link
Is there a way to change the language?
Yes, we have 3 different languages that you can select at the upper right side