Binary Broker: GCMBinary.com
GCM Binary is a major online binary options broker that offers many possibilities to profit from the forex, commodities, stock and indices financial markets to its customers. GCM Binary is a licensed and regulated online trading provider operating under British Virgin Islands Financial Security Commission number: SIBA/L/11/0964 associated with Gallant Capital Markets Ltd. This means that all aspects of the services offered are independently supervised and subject to financial regulatory scrutiny. Moreover, Gallant Capital Markets is an established foreign currency exchange broker that has been in operation since 2008.
GCM Binary is also one of the few regulated binary brokers on the market that provide various non-conventional commodities to trade with, such as Coca Cola, eBay and others. The most common payout rate at GCM Binary is 85% – but sometimes even up to 400% – which places it on top of the list of best paying binary options providers. This binary broker review will offer an impartial description about GCM Binary.
Indices: NASDAQ, DJIA, DAX, NKKEI 225
Forex: EUR/USD, GBP/USD, USD/YPY, EUR/GBP, EUR/CHF, USD/CAD
Stocks: Google, Coca Cola, eBay, Vodafone, HSBC, Adidas, Volkswagen
Commodities: Gold, Silver, Oil
The assets available at GCM Binary are balanced and offer most of the popular choices. A shortcoming is the fact that these are only offered in the form of High/Low and One Touch binary options types with no option for Zone and/or Boundary binary options. On the other hand, this is compensated with trading assets that are not available at most other binary options brokers.
Creating an Account
Setting up an account at GCM Binary is somewhat different than in the case of other providers because, as a regulated binary broker, GCM requires news clients to send them a proof of identification and a proof of address before they can begin trading. If you’re not sure if you want to create a real account with GCM Binary, there is a much easier way to test out their platform before dealing with scanning and emailing or faxing sensitive documents: Simply create a free GCM Binary binary options demo account.
All you need to do is click on “Register for a Demo Account” at the top of the GCMBinary.com home page and fill in the data requested. Once you’ve completed the short form, you will be emailed a username and password and directed to a demo account log in page. The demo account will allow you to trade with $5000 in virtual money for up to 7 days.
GCM Binary provides a unique reports chart that traders can use in order to evaluate all of their previous actions. This is extremely useful in developing a solid binary options strategy that will increase the likelihood of successful bets in the future.
On the bottom of the binary options platform provided by GCM Binary traders will also find several shortcuts to all the assets available. This will hugely improve navigation and speed which makes sure that no deadlines are missed and trades are placed in time.
GCM offers several contact methods to its clients. Like in the case of most other binary options providers, at GCM Binary the most convenient method is live chat. When we tried out the live chat platform we were surprised to see that we were already connected with a staff member in just 2 seconds. Then we went to ask a series of questions regarding deposits, withdrawals and requested explanations regarding the available trading possibilities. Each time we managed to receive a satisfying answer.
On addition to live chat, GCM is also available over email and phone. The phone support of this provider is really impressive. A total number of 10 phone numbers are provided for customers around the globe. Our test phone call was immediately picked up by a representative of the GCM Binary’s UK office.
As mentioned above, GCM Binary provides a fully functional demo account that has all the features of a live, real money account. Creating a binary options demo account can be done by selecting this option at the registration process. After the account is activated, it will be charged with $5,000 virtual currency that can be used to test all the features of the platform.
After evaluating the site and testing all the features and trading possibilities provided, the demo account can easy be converted into a live account. This can be achieved by making a real money deposit. It has to be noted that a demo account will only be active for 7 days.
GCM Binary offers payout rates between 65%-85%. 85% is considered to be very good in this industry and most of the trading options available at this provider offer this rate. A selected number of binaries offer special payouts rates even up to 400%. These trading possibilities are rare and are found only within the One Touch trading type selection.
Deposits and Withdrawals
Traders at GCM have a variety of deposit and withdrawal options at their disposal. These are Visa, MasterCard, Moneybookers, Skrill (Moneybookers), Paynova and Bank Wire. These options are completely secure and every payment process on the site uses latest-technology encryption that adds an extra layer of security.
The fact that GCM Binary is a regulated binary options provider further enhances safety of transactions and that of the money deposited. The provider has also several safety protocols such as segregation of funds, using only regulated payment processors and risk management systems.
GCM Binary is not necessarily a provider that offers a large selection of trading types and assets. This aspect is however compensated by the fact that this broker is 100% financially regulated meaning its activities are subject to oversight by an impartial regulatory body, which gives traders a major reason to feel comfortable about putting their funds in this broker’s hands. Moreover, GCM offers several options that are not available to trade elsewhere – such as eBay, Vodafone, Volkswagen – are available here.
GCM Binary also provides a solid binary options platform and a competent support team. This, together with the fact it offers payout rates of up to 400% in case of some One Touch trades makes this provider an excellent choice.