Binarium

Binarium Review and Feedback on the Binary Options Broker

Binarium is a professional trading platform that has been in business since 2012. Its years of experience have enabled the company to serve different types of traders globally. Binarium prides itself on delivering convenient solutions to its customers to enjoy smooth and hassle-free transactions. This Binarium review will evaluate this trading platform to determine its reliability and confirm whether you can trust it.

Is Binarium Safe? Regulation and Reputation Explained

When it comes to registering with a new trading platform, people are usually skeptical. We can understand your fear if you’re not jumping at the opportunity to register with Binarium. For those asking, “Is Binarium legit?” there is a way to find out. One of the easiest ways to know more about a company is to check what other customers are saying about it.

Trustpilot is a reputable third-party review site, and there are 66 reviews on Binarium on the site. With a 67% 5-star rating, a 1% 3-star rating, and a 32% 1-star rating, Binarium has a review score of 4.6, placing it in the excellent category.

Despite its reliable reputation, many traders have issues with the fact that it is not regulated by a financial authority with strict standards. In 2022, the Cyprus financial regulator, CySEC, went as far as issuing a Binarium scam warning.

AML & KYC Policies on the Platform

Upon registration, you’ll have to provide an identification document and then verify your email address.

When it is time to fund the account, the user must provide additional KYC information, which includes a photo of an ID document and proof of address. All of these are required to further confirm the identity of the user.

Some of the negative Binarium reviews are due to incomplete KYC information. Without providing the required details, your account won’t be verified, and you won’t be able to use the platform properly. To comply with AML regulations, the customer will be required to scan the front and back of their debit or credit card when registering it. However, apart from the card number’s first 6 and last 4 digits, the rest of the number should be covered. The same goes for the CVV code. So, the verification process entails:

• Type your personal data correctly.
• Confirm your email address.
• Submit a request for document verification.
• Verify your payment methods.

Bear in mind that the customer’s information might be used to comply with AML regulations upon government request. Even after you have closed the account, this information remains accessible for a specified period before it is finally deleted.

Trading Fees

For those asking about Binarium fees: the platform does not charge trading fees; however, it gets its profit from the difference between your trade amount and eventual payout. The platform doesn’t charge deposit or withdrawal fees as well. This doesn’t account for the transaction fees your chosen third-party payment provider might charge.

Another thing you need to note is that there is an instance where a 10% withdrawal fee might apply. This happens when your account turnover is not up to twice the amount you deposited plus your existing bonuses. You need to ensure your account is active to avoid a penalty charge. If your account is inactive for 90 days, you’ll be charged a 50 euro fee or your chosen currency’s equivalent.

Available Cryptocurrencies and Trading Pairs

As a global provider, Binarium provides up to 76 trading assets for those with a standard account. The VIPs, on the other hand, can trade over 121 assets. The main trading assets are the binary options of Forex and cryptocurrencies, where you can trade on price movements across several assets.

The Forex catalog has several trading pairs with competitive spreads, including:

• EUR/USD
• EUR/GBP
• USD/CHF
• USD/JPY
• AUD/USD
• USD/CAD

The available cryptocurrencies include various pairs of

• Bitcoin
• Ethereum
• Litecoin
• Ripple and more[b][c]

Recently, mega stocks have been added to its product offerings, with the following available to clients:

• Google
• Apple
• Amazon
• Microsoft

How to Use Binarium Trading Features

Binarium trading platforms are easy to use due to their simple user interface. In this section, we take a look at some of the platform’s features and explain how they work.

Binarium Account Types Review

There are 5 account types that clients can choose from, all with different features and benefits.

Start Account

As the name implies, this account allows you to get a feel of the platform and how it works. On the website, the deposit amount is listed as $0 - $100. Yet, it’s been discovered that the Binarium minimum deposit amount for this account is just $5. With this account, you don’t get any tradeback should you suffer any loss.

There are 67 available trading assets you can try your hand at, and your maximum daily and weekly withdrawal limits are $55 and $110, respectively. The average withdrawal request processing time is 5 business days. You can open multiple trades at the same time, but the amount cannot exceed $100. With the Start account, you won’t have access to any trading room.

Standard Account

When you upgrade to the Standard account, it means you’re ready to step up your game as the minimum deposit amount is $100. The first perk you enjoy by upgrading is a 5% tradeback bonus for losing trades, which you’ll get every Tuesday at 12:00 UTC +0. Another difference you’ll readily notice is the increase in trading assets from 67 to 76.

At this stage, your withdrawal limit also increases to $200 daily and $500 weekly. However, you can only make a withdrawal of $55 per request, and the average processing time is reduced to 3 business days. Although you can now have up to $250 in simultaneous open trades, you still won’t get access to a trading room.

Business Account

This level is not for casual traders, with the minimum deposit pegged at $500, which secures a tradeback bonus of 10%. Users can now trade over 92 assets, enabling them to maximize their trades. As expected, the daily and weekly withdrawal limits increase to $500 and $2,000, respectively.

However, you can only withdraw $100 per request, and it will take an average of 2 business days for the request to be approved. Simultaneous open trades of up to $1,000 are available with this account, and users have access to the business trading room where they can learn trading strategies from other traders.

Premium Account

No one will question why this account is called premium, given its premium minimum deposit of $2,000. For this level of investment and commitment, the platform offers clients a 12.5% tradeback as a bonus. Their deposit and bonuses can be used to invest in 113 trading assets.

As far as withdrawal limits are concerned, clients can withdraw up to $1,500 daily and $4,000 weekly. The withdrawal limit per request is increased to $250. You can rest assured you’ll get your money within 1 business day. The premium account allows you to hold simultaneous open trades of up to $2,500, and you are given access to the business trading room as well.

VIP Account

The final account type is for the VIPs, the high rollers, where the minimum deposit amount is $5,000. Unlike other accounts where you get your tradeback as a bonus, the VIP account gives you a 15% tradeback as real funds. That means you can simply withdraw the money without having to reinvest, making it a great way to cut your losses.

But if you choose to reinvest, there are 121 trading assets you can check out. The withdrawal limit for this account is simply mind-blowing when compared to the other accounts on the platform. You can withdraw as much as $110,000 in a day. The thing is, if you withdraw that much in one day, you can’t withdraw again for that week, since that’s the weekly limit as well.

The withdrawal limit per request is stated as “no limit” on Binarium’s website. This information can be misleading since you cannot withdraw above $110,000 in a day. So, the withdrawal limit per request is $110,000.

You would think that given the amount one can withdraw, the processing time per request will take a while. Interestingly, that’s not the case. If you choose to withdraw $110,000 per request, you’ll get your money within 1 business day.

The only feature that actually has no limit is the amount of simultaneously open trades you can have. In other words, you can trade to your heart’s content. Apart from the business trading room, you also have access to the VIP trading room, exclusive to high rollers like yourself.

Demo Account

The demo account allows new users to get used to Binarium. You are given virtual $10,000 when you register. These funds can only be used to practice; you cannot withdraw them.

The demo account has all the features available in the real trading account, ensuring you get an accurate experience as you practice.

Promotions and Bonuses

Binarium offers its clients four main types of promotions and bonuses.

Welcome Bonus

This bonus is available to new users who have just joined the platform. Binarium gives you 100% of your first deposit, which is sent to your bonus account and can be used to trade on the platform. The larger your deposit, the larger your welcome bonus.

Deposit Bonus

Existing users may get this bonus whenever they fund their account using a Binarium trading promo code. You can find these codes on Binarium’s newsletters, social media pages, and third-party websites. Customers can also get this bonus when they participate in promotions on the platform.

Tradeback Bonus

We mentioned this when we talked about the account types. With tradeback, you get a percentage of your losses returned to you. However, this is only available to standard, business, premium, and VIP account holders.

Risk-Free Trades and Deposit Insurance

With risk-free trades, you are given the opportunity to trade without the risk of losing your money. Deposit insurance, on the other hand, is similar to tradebacks because it compensates for losses but deals more with potential than actual losses. Furthermore, it applies only to the client’s initial consecutive trades, and the compensation cap is your original deposit amount.

Deposits and Withdrawals

Binarium offers a wide range of payment systems for your deposit and Binarium withdrawal process. You can use your bank card (Visa or Mastercard), e-wallets like Stickpay, and cryptocurrencies such as Bitcoin and Ethereum.

Here is a comprehensive list of the available payment methods as listed on the Binarium website:

• Skrill
• Tether
• Bitcoin
• TRX
• Litecoin
• Ripple
• Toncoin
• FKWallet
• USDCoin
• Solana
• Ethereum
• BinanceCoin
• Dogecoin
• POL

Since Binarium is an online trading platform rather than a forex broker, it doesn’t make use of lot sizes in the traditional forex sense. What it uses is a minimum trade size, which is $1.

In the Binarium Account Types Review section, we mentioned the minimum and maximum deposit amounts for each account type.

Before you can deposit or withdraw, you must complete the Binarium verification process. You can review the account types above to see the deposit and withdrawal limits.

How to Deposit Crypto

If you decide to use any of the available crypto options to deposit funds into your account, the process is quite easy.

Step 1: Click on Deposit from your trading terminal.

Step 2: Choose any of the crypto options available. For instance, you select Bitcoin.

Step 3: Select the amount in your preferred currency you want to deposit.

Note that the actual crypto amount you’ll deposit depends on the current global exchange rate and not the Binarium exchange. Binarium provides an estimated crypto amount as you input the sum to deposit.

Step 4: If you have a promo code, click on “I have a promo code.”

Step 5: Scan the QR code using your BTC wallet application. Alternatively, you can copy the address and then paste it into your wallet. Once you do this, the BTC will be sent to your Binarium account.

Analytical and Trading Tools

There are different trading tools on the platform that enable traders to master the trade and increase their earnings.

Economic Calendar

With this tool, you won’t miss current happenings and opportunities to make a profit. The economic calendar gives you updates on announcements and events that could impact market movements.

When you click on an event, you get a comprehensive explanation and how it might impact signals and overall trade.

Trading Signals

Binarium regularly sends recommendations, and there are real-time trading signals that help users make profitable decisions.

SMA (Simple Moving Average)

The Simple Moving Average is an average price of an asset over a certain timeframe. It smooths out price fluctuations to find trends. It responds slowly to changes in price, though, since it treats every data point equally.

A variation of the SMA, the Smoothed Simple Moving Average, emphasizes historical data while considering current price fluctuations.  It is excellent for long-term trend analysis as it removes short-term fluctuations more effectively than the SMA.

LWMA (Linear Weighted Moving Average)

The Linear Weighted Moving Average adds greater weight to recent price data, making it more responsive to price changes than the SMA. The most recent price has the highest weight, whereas older prices have diminishing weights. This allows traders to notice trend shifts more quickly than the SMA.

EMA (Exponential Moving Average)

It prioritizes recent price data by applying an exponential weighting factor. This indicator responds more quickly to price fluctuations than the SMA and is extensively used for identifying trends and reversals. The most common EMAs employed by traders are the 12-day and 26-day EMAs, sometimes paired with other indicators like MACD.

SAR (Parabolic Stop and Reverse)

A trend-following indicator, the Parabolic SAR dots either above or below price movements. It shows an uptrend if the dots are below the price, and a downtrend if they are above. Popular for establishing exit strategies, the indicator helps traders determine stop-loss points and trend reversals.

Alligator Indicator

The Alligator Indicator consists of three smoothed-moving averages (13-period, 8-period, and 5-period). The market is in consolidation when the three lines entwine themselves. Their divergence indicates a strong trend.

Bollinger Bands

A middle SMA and two bands that are placed two standard deviations apart from it make up the Bollinger bands. High volatility expands these bands; conversely, low volatility causes them to contract. A price touching the upper band could point to overbought conditions, while a price touching the lower band could point to oversold conditions.

RSI (Relative Strength Index)

The Relative Strength Index measures the speed and magnitude of price fluctuations over time (usually 14 days). With a 0 to 100 range, values above 70 indicate overbought conditions, and values below 30 indicate oversold conditions.

Awesome Oscillator

The Awesome Oscillator, devised by Bill Williams, compares a 34-period SMA to a 5-period SMA to visualize market momentum. It appears as a histogram with green and red bars. Green bars indicate increasing momentum, while red bars suggest weakening momentum.

PVO (Percentage Volume Oscillator)

The Percentage Volume Oscillator measures the difference between two moving averages of volume as a percentage. It highlights changes in buying and selling pressure. When the PVO rises, it indicates increasing volume and potential price moves; when it falls, it suggests declining volume and a weaker trend.

High Minus Low Indicator

The indicator calculates the difference between the highest and lowest prices of an asset. It may be incorporated into other indicators to improve risk management strategies and evaluate market volatility.

Momentum Indicator

The Momentum Indicator measures over time the rate of change in the price of a security. Strong upward price movement is indicated by a rising momentum value; a declining value indicates weakening momentum. It's frequently used to spot reversals or verify trends.

MACD (Moving Average Convergence Divergence)

The MACD helps investors determine the right entry and exit points by calculating the difference between 26- and 12-day EMAs (the MACD line).

CCI (Commodity Channel Index)

It measures price deviation and clarifies possible trend reversals and overbought or oversold situations. A CCI above +100 indicates an overbought market, and a CCI below -100 — an oversold market.

Tournaments and Other Perks

As part of its objective to ensure its clients have a wonderful experience, Binarium organizes different tournaments from time to time, which come with amazing perks. Active participants can take advantage of these tournaments to win monetary prizes.

There are two categories of tournaments, which are usually available throughout the year. The first category is free since the prize fund comes from bonus funds. On the other hand, the prize fund for the paid category comes from real funds. Both tournament categories can be held daily, weekly, biweekly, and during weekends.

Recently, these tournaments have been temporarily suspended due to ongoing technical work, and there is no fixed date on when they will be resumed.

Customer Support

The platform’s customer support is available in multiple languages, and it's no surprise given the global customer base they support. Binarium support includes the following methods: online chat, call, Telegram Bot, and email.

Tutorials

Binarium has an “Education” section where you can get all the information you need to use the platform. There are questions and answers, strategies, and even tutorial videos.

There are nine educational videos on the platform:

• How to trade on the Binarium platform
• How to top up the account?
• How to withdraw funds from an account?
• How to pass verification?
• What are bonuses and how to use them?
• Why type of account to choose and why?
• What is tradeback?
• What is a trading room and what is it used for?
• What are risk-free trades?

There are also 20 trading strategies explained on the platform that users can adopt to maximize their trading:

• Trend Reversal Trading
• Absorption Strategy
• Gap Trading
• Pinocchio Strategy
• “Three Candles” Strategy
• “Seven Candles” Strategy
• Domino Strategy
• Trend Strategy
• Heatmap Trading
• News Trading
• Traders’ Choice Trading
• Trading Within Price Channel
• Trading Bitcoin
• Trading Gold
• Trading on Market Corrections
• Parabolic SAR Trading
• “Andrew’s Pitchfork” or averaging trading
• MACD Indicator
• Stochastic Indicator
• Fibonacci Retracement Strategy

You can learn more about all these strategies in the Binarium “Education” section.

Mobile vs Web Versions of Binarium

Binarium’s mobile app version is available on the Play Store and the App Store. The trading process is similar to the web version. All the features available on the web version are available on the mobile app. [d][e][f]

The major difference between both versions is the interface of the terminal operation. A typical example is the layout of the terminal buttons. Such differences are common when a web version is made into a mobile app.

Another difference you may notice when using the app is that some sections might redirect you to the web version. For instance, when you go to the training section to check the training videos, you will be directed from the app to the web version where you can view the videos.

When the Android and iOS versions are compared, we discover that both app versions function the same.

How to Register and Verify Your Account on the App

Step 1: After downloading the app, you’ll see the registration page as soon as you open the app.

Step 2: You’ll have to enter your email, password, and then your preferred currency to sign up.

Alternatively, you can sign up using your Google account.

Step 3: To complete the Binarium login process, enter your full name, phone number, and currency. After that, you can click on Start Trading.

This action will take you to the trading terminal.

Step 4: To begin your account verification, tap on your profile icon at the top left corner.

Step 5: Tap “User Profile.”

Step 6: You’ll be redirected to the web version.

Step 7: Go to your email to confirm the email link sent to you.

Step 8: After verifying your email, you’ll have to upload a national ID card.
Once you successfully upload the document, your account is fully verified.

Placing an Order and Using Technical Analysis on the App

Step 1: Just like the web version, enter the amount you want to trade.

Step 2: Choose the assets you want to trade from the top right corner.

Step 3: Tap on the green up button or the Binarium down trade button.

Step 4: Tap “Confirm” to confirm your trade.

Step 6: To use technical analysis tools, tap on the indicators icon.

Step 7: Choose any of the listed indicators and then apply it to the trading terminal.

Depositing and Withdrawal

Step 1: Click on your profile icon.

Step 2: Tap “Make a deposit” if you want to deposit.

Step 3: After you are redirected to the web version, choose your preferred payment method.

Step 4: Follow the rest of the steps discussed in the Deposit and Withdrawal section.

The withdrawal process is the same as that of the website version. Select Withdrawal after tapping the profile icon. Then choose the amount you want to withdraw and the withdrawal method.

What Is Forbidden? Why Could Your Account Be Banned[g][h]

To provide a fair and safe trading environment for all customers, Binarium imposes certain obligations on its users. Here are the key rules you need to know and comply with.

• Account Registration & Verification. You need to submit valid personal information, verify your email, and complete identity verification. Failure to provide true personal data in full volume may lead to account suspension or restricted access.
• Personal Use Only. Trading accounts have to be used only by the registered person. Using third-party credit/debit cards for transactions, bank accounts, or identification is strictly prohibited.
• Anti-Money Laundering Compliance. Binarium follows global regulations to prevent money laundering. Therefore, you’ll be required to follow all the verification procedures. Any suspicious financial activity, including using several accounts for fraudulent transactions, can lead to account termination.
• Privacy & Data Protection. The company collects and stores user information as mandated by law and may be legally obliged to share it with relevant authorities.
• Legal age. Users must be of legal age and have a sound mind to be able to access the service.
• Residence. Users must not live or reside in Canada, Israel, Palestine, Japan, Sudan, Syria, Iran, North Korea, or the European Economic Area (or any country where using our services will violate the law).
• Inactivity Fee. If user’s account remains inactive for more than 90 days, Binarium will charge a €50 inactivity fee from balance.
• Users must not be US reportable persons.

Binarium Pros & Cons

Just like any other trading platform, Binarium has its pros and cons. Let’s take a look at them.

Pros

• User-friendly interface
• Diverse asset selection
• Flexible account options
• Promotional offers
• Educational materials

Cons

• Binarium regulation is not strict

FAQ About Binarium

Does Binarium provide educational resources?

Yes, there are educational resources on the platform with tutorials to help traders understand the platform and enhance their trading knowledge.

Is the service beginner-friendly?

The platform is beginner-friendly with features like the demo account and educational resources, giving beginners the opportunity to understand the online trading world.

How does Binarium ensure the security of my funds?

Binarium uses encryption technologies, two-factor authentication, and identity verification, among others, to ensure clients’ funds are safe.

What is the free demo option for?

The demo option is a free account that allows new users and beginners to learn how the platform works without using actual money.

Can I trade without registering an account?

You cannot trade without registering an account. This is done to prevent Binarium fraud. It is your registered and verified account that gives you access to the platform’s features.