Binarium Review and Feedback on the Binary Options Broker

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.

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.

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.

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.

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.

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.

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.

How to Trade Bitcoin on Binarium Profitably?

To trade bitcoin on Binarium profitably, you need to understand the basic concepts of trading and have a good understanding of the factors that affect the price of bitcoin. In addition, it would help to use technical analysis indicators to identify profitable trading opportunities.

Binarium offers over 12 technical indicators you can use to trade bitcoin profitably. You can use the platform to trade binary options with bitcoin and make up 92% profit on your investment.

How to Deposit and Withdraw Money from Binarium?

You can deposit and withdraw money from Binarium using various methods, including credit/debit cards, wire transfers, and e-wallets such as Skrill, Neteller, and QIWI.

Is Binarium a Legit Broker?

Yes, Binarium is a legit broker. Although prominent financial regulators do not regulate the platform’s parent company, the platform has been around since 2012, which is a long time for a binary options broker to exist with a bad reputation. However, the company has a good reputation in the industry and offers a variety of features to its users.

Does Binarium have hidden fees?

No, Binarium doesn’t have any hidden fees.

Is Binarium suitable for beginner traders?

Yes, Binarium is a great broker for beginner traders. The platform offers a wide range of features and tools that beginners can use to start binary options trading.

Does Binarium offer a demo account?

Yes, Binarium offers a free demo account to its users with $1,000 in virtual money. You can use it to test the platform’s various features and practice your trading skills.

Conclusion

As Scott Redler who is the chief strategic officer at T3 live puts it, “Traders need a daily routine that they love. If you don’t love it, you’re not gonna do it.” In the same breath, trading binary options requires you to work with a broker you love.

Binarium is an excellent binary options broker that offers users a wide range of features and tools. The broker is suitable for both beginner and experienced traders. However, the platform does not offer stocks and indices as is common on other binary options platforms.

Overall, the broker is reliable and provides a good trading experience to its users. If trading stocks and indices via binary options is important to you, read our review on Quotex.

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