Binarium Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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I opened Binarium's website, but all I see is a blank page. I'm not sure what happened exactly, but it's very frustrating for me because I was really interested in learning more about their trading platform and conditions. I hope they can fix the issue soon, or at least provide some explanation for the outage.
Binarium has emerged as a popular choice among novice traders in the binary options market since its establishment in 2012. The broker offers a user-friendly platform with a low minimum deposit requirement, making it accessible for beginners. However, it is essential to note that Binarium operates without regulation, which raises concerns regarding the safety and security of traders' funds. This review will delve into the key features, user experiences, and expert opinions about Binarium to provide a comprehensive overview.
Note: It is crucial to consider that the broker operates under different entities in various jurisdictions, and the lack of regulation could pose risks for traders. We aim to present a fair and accurate assessment based on the available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 7.5 |
| Tools and Resources | 6.0 |
| Customer Service & Support | 6.5 |
| Trading Setup (Experience) | 6.0 |
| Trustworthiness | 4.0 |
| User Experience | 6.5 |
How We Rate Brokers: Our ratings are based on extensive research, user feedback, and expert evaluations.
Binarium, founded in 2012, is a binary options broker headquartered in Saint Vincent and the Grenadines, with an additional office in Cyprus. The broker provides a proprietary trading platform that is designed to cater to the needs of novice traders, featuring a straightforward interface and essential trading tools. It allows trading in various asset classes, including forex pairs, stocks, commodities, and cryptocurrencies. However, it is important to note that Binarium operates without regulation from any prominent financial authority, which raises concerns about its trustworthiness.
Binarium operates without regulation, which is a significant drawback for many traders. The broker is registered in an offshore jurisdiction, specifically Saint Vincent and the Grenadines. This lack of regulatory oversight can expose traders to potential risks, as they may not have the same protections as those trading with regulated brokers.
Binarium supports multiple currencies for deposits and withdrawals, including USD, EUR, AUD, and RUB. Additionally, the broker accepts various cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
The minimum deposit required to open an account with Binarium is just $5, making it highly accessible for new traders. This low entry barrier is appealing for those looking to start trading without a significant financial commitment.
Binarium offers various promotional bonuses, including a welcome bonus of up to 100% on initial deposits. However, to withdraw bonus funds, traders must meet a trading volume requirement, typically around 40 times the bonus amount.
Traders on Binarium can access a range of asset classes, including forex pairs, stocks, commodities, and cryptocurrencies. However, the selection of assets is relatively limited compared to other brokers, with around 46 available trading instruments.
Binarium does not charge trading fees; however, traders should be aware of potential withdrawal fees that may apply depending on the payment method used. The broker claims to cover third-party charges, but if the trading volume does not exceed twice the initial deposit, a 10% fee may apply to withdrawal requests.
Binarium does not offer leverage for trading, as it focuses exclusively on binary options. This means that traders cannot engage in margin trading, which may limit potential profits.
The broker provides a proprietary trading platform accessible via web browsers and a mobile application for both iOS and Android devices. The platform includes essential features such as live price quotes, various chart types, and trading indicators.
Binarium does not accept clients from specific jurisdictions, including the United States, Canada, and certain countries in the European Economic Area. Traders should verify whether their country of residence is eligible before opening an account.
Customer support at Binarium is available in multiple languages, including English, Russian, and several others. Users can reach out for assistance via email, live chat, or phone.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 7.5 |
| Tools and Resources | 6.0 |
| Customer Service & Support | 6.5 |
| Trading Setup (Experience) | 6.0 |
| Trustworthiness | 4.0 |
| User Experience | 6.5 |
The account conditions at Binarium are favorable for beginners, with a low minimum deposit of $5. However, the limited selection of assets and trading options may not cater to more experienced traders.
While Binarium offers a demo account for practice and educational resources, the overall selection of tools is limited compared to competitors. The platform provides only a handful of technical indicators.
Customer service has received mixed reviews, with some users praising the quick response times, while others have reported delays in communication. Support is available 24/7, which is a positive aspect.
The trading experience on Binarium is user-friendly, but technical issues, such as delays when executing trades, have been reported by users. This can hinder the trading experience, especially during volatile market conditions.
The lack of regulation is a significant concern for many traders, leading to a lower trust rating for Binarium. While the broker has been operational since 2012, the absence of oversight raises questions about fund security.
Overall, user experiences vary widely. Some traders appreciate the ease of use and low minimum deposit, while others express concerns about withdrawal issues and the broker's unregulated status.
In conclusion, while Binarium offers an accessible platform for novice traders, the lack of regulatory oversight and mixed user feedback should prompt potential clients to exercise caution. It is advisable to thoroughly research and consider other regulated brokers in the market before making a decision.
