From innovator to market leader, 27 years in the making.
When it all started
The man behind Binary.com is founder and CEO Jean-Yves Sireau. An expert in entrepreneurship, software development and financial derivatives, Jean-Yves founded his first company in 1991, at the age of 21, to develop financial software for the French brokerage community. In 1993, he founded Fortitude Group Inc., a Hong Kong-based investment fund specialised in dealing futures and options on the Hong Kong Futures Exchange. From 1997 to 1999, he developed the systems and algorithms that would become the foundation of Binary.com today.
Jean-Yves’ idea was to implement a fixed-odds financial trading system that would give ordinary investors the chance to make small trades. With fixed-odds trading, risk is limited because investors cannot lose more than their initial stake. Prior to this, binary options were mostly traded in large quantities by big banks and hedge funds. Founded in 2000, Binary.com (then known as Betonmarkets.com) was the first online trading platform to offer binary options to retail traders, sparking off a market revolution.
Eighteen years on, Binary.com now offers a variety of trading options on its easy-to-use platform designed for new and advanced traders alike. Through the years, the platform has earned an enviable reputation for its commitment to high ethical standards and the quality of the trading experience provided. It caters to all markets and conditions such as currencies, indices, commodities, and more in rising, falling, sideways, quiet, and volatile markets. With a comprehensive suite of products available, Binary.com has the most flexible, competitive and transparent pricing. Customers can benefit from the same rates of return as interbank traders as prices are benchmarked daily against the interbank options markets.
Besides offering different trading products, Binary.com is one of the first financial firms to open-source front-end applications, allowing other developers to review or adapt their front-end code. There are APIs that allow clients to leverage Binary.com’s patented trading technology. This means that you can build your own binary options trading platform without having to start from scratch: just adapt Binary.com’s front-end code to build your own application, using the APIs to communicate with Binary.com’s trading system to calculate the price of each contract.
In November 2016, Binary.com expanded into Forex and CFD trading via the MetaTrader 5 multi-asset trading platform, offering ultra-competitive spreads and leverage, zero-commission trades, and new assets such as cryptocurrencies. Currently, Binary.com handles an average of 36 transactions per second and over 1 million transactions a day, 24/7.
Risks and challenges
Admittedly, many risks and challenges exist within the industry. There is always competition from companies with greater financial and technical resources. Binary.com looks at every potential risk very seriously. Over the years, processes are implemented that allow continuous risk assessment and management, including the setting up of an internal audit team that regularly reviews existing systems, processes, and controls of high-risk areas including IT security, payments, and regulatory compliance. Binary.com’s conduct as a business is heavily driven by its core values: integrity, tolerance, diversity, and equal opportunity, which are deeply embedded within its company culture.
Awards and recognitions
As a result of its resilient nature, Binary.com has won several awards over the years as testament to its constant and unwavering commitment to serve clients with integrity and reliability. These awards include:
- Best Fixed-Odds Financial Trading Provider (Shares Magazine UK 2007)
- Best Fixed-Odds Financial Provider (Financial Times and Investors Chronicle UK 2008)
- Best Fixed-Odds Financial Trading Provider (Shares Magazine UK 2008)
- Financial Betting Operator of the Year (eGaming Review 2009)
- Best Fixed-Odds Financial Trading Provider (Shares Magazine UK 2009)
- Best Fixed-Odds Broker (Trade2Win 2011)
- Best Fixed-Odds Firm (Global Banking and Finance Review 2012)
- First Prize – Financial Betting Operator (EGR Operator Awards 2015)
- Best Binary Options Broker (MENA International Financial Conference and Exhibition 2015)
- Best Binary Options Broker (Online Personal Wealth Awards 2017)
- Best Trading Platform in Asia (Global Brands Awards 2018)
- Best Binary Company Asia Pacific (Global Banking & Finance Awards 2018)
Binary.com’s long-term growth strategy is primarily focused on four key pillars: technology, expansion, customer experience, and branding. Plans include high-growth initiatives involving development of offices and related licence applications in strategic jurisdictions; enhancement of technology and IT infrastructure to enhance competitive advantage; increase in digital and automated marketing spend; and further development of operational resources by expanding technical, customer support, and business growth capacity.
With decades of industry experience, Binary.com has been established as a market leader in online trading technology and the future looks brighter than ever. Join traders worldwide who trust Binary.com’s proven track record since 2000. Start trading at Binary.com with a free virtual account today.
UK retail sales drop, NatWest loss dampen FTSE 100 mood
By Shivani Kumaresan and Amal S
(Reuters) – The FTSE 100 was muted on Friday as a bigger-than-expected drop in January retail sales underscored the business damage from a prolonged nationwide lockdown, while NatWest group fell after swinging to an annual loss.
The commodity-heavy FTSE 100 was flat as gains in miners Anglo American, Rio Tinto and BHP Group capped losses.
Oil producers BP and Royal Dutch Shell fell 1.2% and 0.5%, respectively as crude prices slid.
Data on Friday showed British retail sales tumbled much more than expected in January as non-essential shops went back into coronavirus lockdowns. Flash readings of business activity data, due at 0930 GMT, are likely to show the services sector struggling to return to growth in February.
“The 8.2% fall was considerably higher than we’d expected (around 4%), and provides clear evidence the hit to consumer spending is noticeably larger than it was during the November restrictions,” said James Smith, market economist at ING.
He added focus will now be on UK’s COVID-19 vaccination program and easing of restrictions, to drive economic recovery.
The FTSE 100 has recovered nearly 35% from its March 2020 lows but has been largely range-bound since the beginning of this year as a nationwide lockdown hurt business activity, undermining hopes of economic growth in the second half of the year.
The domestically-focused mid-cap FTSE 250 index rose 0.2%, with consumer and industrials stocks leading gains.
NatWest fell 0.6% after the financial services provider swung to a full-year loss for 2020 after COVID-19 lockdowns crunched household spending.
Segro Plc rose 1.7% after the real estate investment trust reported a near 11% jump in annual profit for 2020.
Banking group TBC Bank fell 2.3% after a slump in annual underlying profit due to lower interest rates and limited lending growth in the fourth quarter from the COVID-19 pandemic.
(Reporting by Shivani Kumaresan and Amal S in Bengaluru; Editing by Vinay Dwivedi and Krishna Chandra Eluri)
Dollar slips further after disappointing jobs data, sterling shines
By Tommy Wilkes
LONDON (Reuters) – The U.S. dollar slipped further on Friday and the euro rebounded after disappointing U.S. data dented optimism for a speedy recovery from the COVID-19 pandemic, while sterling edged towards the $1.40 mark.
The U.S. currency had been rising as a jump in Treasury yields on the back of the so-called reflation trade encouraged investors back into the greenback.
But an unexpected increase in U.S. weekly jobless claims soured the economic outlook and sent the dollar lower overnight.
On Friday it traded down 0.1% against a basket of currencies, the dollar index now at 90.474.
The string of soft labour data is weighing on the dollar even as other indicators have shown resilience, and as President Joe Biden’s pandemic relief efforts take shape, including a proposed $1.9 trillion spending package.
The euro rose 0.2% to $1.2113. The single currency showed little reaction to German and French flash purchasing manager index data, which unsurprisingly showed a slowdown in activity in January.
Despite the recent rise in U.S. yields, many analysts think they won’t climb too much higher, limiting the benefit for the dollar.
ING analysts said that “the rise in rates will be self-regulating, meaning the dollar need not correct too much higher.”
They see the greenback index trading down to the 90.10 to 91.05 range
Sterling has been the standout performer in 2021 and on Friday rose to $1.3987, an almost three-year high amid Britain’s aggressive vaccination programme.
Given the size of Britain’s vital services sector, analysts say the faster it can reopen the economy the better for the currency.
The dollar bought 105.46 yen, down 0.2% and a continued retreat from the five-month high of 106.225 reached Wednesday.
Many analysts expect the dollar to weaken over the course of the year as it has traditionally done during times of global economic recovery, though it might take some time to develop.
“It looks to me like there’s some exhaustion in that just-straight global reflation theme,” leading the dollar to trend largely sideways for now, said Daniel Been, head of FX at ANZ in Sydney.
(Additional reporting by Kevin Buckland in Tokyo; Editing by Hugh Lawson)
Bitcoin is ‘economic side show’ and poor hedge against stocks – JP Morgan
By Stanley White
TOKYO (Reuters) – Bitcoin is an “economic side show” and a poor hedge against a decline in equity prices, analysts at JP Morgan said in a sobering assessment that could undercut the cryptocurrency’s rise to record highs.
Current prices are well above JP Morgan’s estimates of fair value and the mainstream adoption of bitcoin increases its correlation with cyclical assets, which reduces the benefits of diversifying into bitcoin, the investment bank said in a memo.
Bitcoin, the most popular cryptocurrency, last traded at $51,116 on Friday, down from a record high of $52,640 reached on Wednesday. Rival cryptocurrency ether traded near a record of $1,951 reached earlier on Friday.
Bitcoin has surged by 45% so far this month, fuelled by signs it is winning acceptance among mainstream investors and companies, such as Tesla, Mastercard and BNY Mellon, but many observers remain sceptical of the unregulated and highly volatile digital asset.
“Crypto assets continue to rank as the poorest hedge for major drawdowns in equities, with questionable diversification benefits at prices so far above production costs, while correlations with cyclical assets are rising as crypto ownership is mainstreamed,” analysts at JP Morgan said.
Some of bitcoin’s supporters argue that the cryptocurrency is “digital” gold that can hedge against inflation and declines in the dollar.
Based on that logic, bitcoin would need to rise to $146,000 in the long-term for its market capitalisation to equal total private-sector investment in gold via exchange-traded funds or bars and coins, according to JP Morgan.
Tesla’s chief executive Elon Musk said on Thursday that owning bitcoin was only a little better than holding cash. He also defended Tesla’s recent purchase of $1.5 billion of bitcoin, which re-ignited mainstream interest in the digital currency.
(Reporting by Stanley White; Editing by Sam Holmes)
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