Binarium Review and Feedback on the Binary Options Broker

What is Binarium

Binarium is a binary options broker owned by Binarium Ltd. and registered in Cyprus. However, the company is not regulated or licensed by the Cyprus Securities and Exchange Commission (CySEC), or any regulating body.

The company has been in business since 2012 and has its headquarters at Agias Zonis 13, 1st Floor, 3027 Limassol, Cyprus. While Binarium is not a new kid on the block, they are not as visible as some of the major players in the industry. This is because they do not actively market themselves to traders in Europe and North America.

Instead, they focus on emerging markets such as Asia, Latin America, and Eastern Europe. Another potential reason they are not a major player is because they don’t have the financial muscle to compete with the big boys or perhaps because they lack the licenses to operate in developed markets. Looking for a regulated options broker? Check out Pocket Option.

How easy is it to use Binarium?

One thing you are sure to enjoy with this broker is its user-friendly interface. Their trading platform comes in two versions: the web-based version and the mobile trading app.

The web-based platform can be accessed from any internet browser, while the mobile trading app is available for download on Android and iOS devices. Both versions are well-designed and offer a smooth trading experience.

In addition, they are also very user-friendly, even for those who are new to binary options trading. The education center on the website contains a wide range of trading materials. Plus, the educational material is well organized and covers all the basics of trading in general.

You will easily find information on money management strategies, such as the Martingale system (a system where you double your stake after a loss in order to recoup your losses and make a profit), and technical analysis tools and indicators. Another thing I like about this broker is that they offer 24/7 customer support.

You can reach them via live chat, telephone or email. I tested the live chat feature and was happy with the speed of the response and the professionalism of the customer service agent. However, online forums have some complaints about the quality of customer service.

Some traders have complained about being promised a call back from a senior manager and never receiving the call. I also noticed that the FAQ section on the website is not very comprehensive and does not cover all the topics relevant to traders. Again, this is something that the broker needs to improve on.

Do they offer an Asset Index?

The asset index is one of the most important aspects of any binary options broker. This is because the assets that are available for trading will determine whether or not you will be able to make a profit.

Binarium offers a decent selection of assets for trading. There are over 50 assets to choose from, which is more than enough to give you a good chance of making a profit, especially if you are just starting your trading journey.

The assets are divided into currencies, cryptocurrencies, and commodities. The more popular assets include gold, silver, oil, EUR/USD, USD/CHF, and GBP/USD. For experienced traders, there is also the option of trading on more exotic assets such as Bitcoin, Ethereum, Litecoin, and Dash.

The only thing I didn’t like about the asset index is that no stocks or indices are available for trading. If you are an avid trader, the lack of stocks can be a significant downside, as stocks and indices offer some of the most profitable opportunities in binary options trading.

Account Types

Binarium offers four types of trading accounts:

Starter Account:

This is the most basic account type, requiring a minimum deposit of just $5, which is ideal for beginners. This account gives you access to the trading platform and all the features that come with it. You can also make use of the education center and customer support services.

However, you will only be able to trade 46 of the 50 assets on the platform. There are also no advantages, such as a trading room, which is a big downside for experienced traders. You also get limited deposit amounts for simultaneous open trades with a limit of $100.

Standard Account:

This account requires a minimum deposit between $100 to $500. You get all the features that come with the Starter Account, as well as access to more assets and advanced features such as a higher withdrawal limit ranging from $200 to $500 per day as opposed to Starter Account’s $100 daily withdrawal limit.

While no trading room is available for the Standard Account, you get access to a 5% bonus or kickback on your lost trades.

Business Account:

The Business Account is one of the more advanced accounts, requiring a minimum deposit of $500. You get all the features that come with the Standard Account, access to more assets, and advanced features such as a higher withdrawal limit ranging from $500 to $2,000 per day. You also get access to weekly market review sessions and a personal senior account manager.

In addition, if you want multiple open trades simultaneously, Binarium’s Business Account gives you a limit of $1,000 per open trade, which is significantly higher than what other brokers offer. The Business Account also offers a kickback of 10% on your lost trades, which is double that of the Standard Account.

Premium Account:

The Premium Account is the most exclusive and advanced account type offered by Binarium. It requires a minimum deposit of $2,000, and it gives you all the features that come with the other account types, as well as access to more assets and advanced features such as a higher withdrawal limit ranging from $1,500 to $4,000 per day.

You also get access to a higher limit for your open trades set at $2,500 per trade. This is an excellent option for avid binary options traders who manage large amounts of capital.

The Premium Account also offers a kickback of a 12.5% bonus, not to mention nearly 70 trading assets to choose from. You also get the quickest withdrawals in just one day compared to the two days of the Business Account.

Demo Account:

Binarium also offers a demo account, which you can use to practice and familiarize yourself with the trading platform. The demo account is funded with $1,000 of virtual money that you can use to test out the different features of the trading platform.

The best thing about the demo account is that it doesn’t expire, which means you can use it for as long as you want. This is a great way to test the platform and see if it’s right for you before investing any real money.

What Refund Policies and Bonuses are available?

Binarium offers its users a partial refund for their lost trades. For instance, if you make a $100 trade and lose, you will get a $5 rebate. This is quite a small refund compared to what other brokers offer, but it’s better than nothing.

The company also offers bonuses for its users. For example, all users have a 100% bonus on their first deposit over $50. This bonus is an excellent incentive for new users to try out the platform. These bonuses are pretty generous compared to what other brokers offer.

IQ options, for instance, only provide a 50% bonus on your first deposit, while some brokers don’t offer any bonuses. Add the bonuses to Binarium’s rebate of 5 to 12.5% on your lost trades, depending on which account type you have and whether you have a nice way to recoup some of your losses.

The only challenge is that the platform requires you to reach a turnover of 40X before you can withdraw the bonuses. Admittedly, this turnover requirement is relatively high compared to other brokers’ requirements, but it’s still doable.

Commissions and Fees

Happily, Binarium doesn’t charge a commission to open an account. Plus, there are no inactivity fees.

You will only be charged a $25 fee if you make a wire transfer deposit of less than $500, and there is also a 3% fee for credit card deposits. There is no information on their website about the spreads.

Banking and Payment Options

Regarding payment and banking options, Binarium offers its users a wide range of options. You can make a deposit using your credit or debit card, wire transfer, or e-wallets such as Skrill, Neteller, and QIWI, to mention a few.

The minimum deposit is $5, and the minimum withdrawal amount is $100.

The company doesn’t charge withdrawal fees via credit/debit cards or e-wallets. In addition, they use secured 3D transactions on their credit card deposits which is a great security feature.

The processing time for withdrawals takes up to three days, with Premium Account holders enjoying the fastest withdrawals. However, crypto withdrawals and deposits are instant.

Customer Support

“Customer service shouldn’t just be a department, it should be the entire company.” – Tony Hsieh.

Fortunately, Binarium offers excellent customer support to its users. You can reach the customer support team through live chat, email, or phone 24/7.

The company has a decent FAQ section on its website that covers most of the commonly asked questions about binary options trading and the various trading strategies that can be used on the platform. The customer support team is knowledgeable and quick to respond to any queries you may have.

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