Position in Rating | Overall Rating | Trading Terminals |
9th  | 2.5 Overall Rating | Binarium |
Binarium Review
Quick profits are an investor attraction, but usually, they are impossible to obtain without gambling your funds. Over the last few years, we have seen the rise of many brokers who promise significant returns in little time. Binarium claims its traders can earn up to 85% returns within 30 seconds.
The high return is genuinely magnetic. Binarium offers a complete package for many traders. However, some customers have failed to realize any profit over the years, let alone in 30 seconds.
Broker selection is confusing, and a trader needs a precise analysis to make a good decision. If you're looking for a Binarium review, you're in luck. We'll take you through a detailed evaluation of Binarium based on its services, efficiency, prices, trustability, and customer reviews. Let's go!
What is Binarium?
Binarium started its operations in 2012 and has been expanding ever since. Binarium ltd owns the broker, and its operations are targeted mainly in Russia. Although the broker publicizes a license from an EU body, the website doesn't contain any legitimate information to confirm the details. However, they've protected their funds in an EU bank that saves a trader's investment from external fraud.
Binarium's suspicious history makes it a less-favourable broker for most traders. CNMV- Spain's regulatory body- issued a report against Binarium, highlighting it as a ‘warned company.'
Some similar accusations were issued by CONSOB in Italy and Cysec in the EU. Cysec didn't blame them for fraud or manipulation; instead, it delisted them due to unregulated operations in the region. Moreover, many experts claim the company is based in Russia, as most of its users and customer support agents are Russian, but the website suggests its location as Cyprus.
Although the details may put many traders off-track, an unregulated broker isn't always a scam. US traders have already invested over 15% of their funds in offshore brokers, and they enjoy regular returns.
Hence, we can trust Binarium to some extent. Binarium is primarily a binary options broker; they provide traders with different categorical investments in derivative assets. The underlying assets are stocks, Forex, and commodities.
Binarium is famous for its high returns; the company claims a maximum of 85% return within 30 seconds. Customer reviews suggest they've received over $1000 in profits within a day of active trading. They also offer a free demo account with over $1000 to help you practice your strategies before taking your funds.
Advantages and Disadvantages of Trading with Binarium
Advantages
DisadvantagesBenefits of Trading with Binarium
Every trader aims to generate profits, and most of us would like to opt for a broker who thinks similarly. Binarium offers a platform to enter the trading world without legal complexities.
The signup procedure is straightforward; it takes only about 4-6 hours to get access to the portal to start trading. Contrarily, other brokers will take over 3-4 days to view and accept your application for their platform.
Traders don't have to complicate their minds by thinking of different assets and commodities; instead, they can opt for a category offered by Binarium and evaluate its movements.
The trading process is also designed ingeniously to assist new traders. You can easily select up and down movements through the main interface; the dashboard presents changes in your desired category, and you can analyze the securities while your options expire.
Binarium's easy signup procedure and trading criteria have helped people earn massive amounts quickly. The platform has shown excellent results for active traders; it's also due to its transparent fee structure.
Binary options brokers usually have hidden charges to gallop traders' profits, but Binarium is relatively transparent. Traders have noticed no hidden charges across their transactions and successfully retained their trading profits.
Overall, we think Binarium's selling point is its profitability, which has attracted traders worldwide. However, traders should not be swayed by greed for profits and evaluate a broker based on their compatibility.
Binarium Pros and Cons
Pros
- Up to 85% return rates within 30 seconds.
- Only up/down selection is required- no complexity.
- Trade with as low as $1 per trade.
- Immediate withdrawal options for some traders
Cons
- No licenses from an official financial authority
- High ratio of negative customer reviews
- Limited indicators and security choices
Binarium Customer Reviews
Our criteria pay essential attention to existing traders because they have firsthand experience dealing with a broker. We usually analyze reviews across different platforms and communities where traders engage and exchange insights. Binarium has a 2-star rating on Trustpilot, which is pretty low, but they also have 18 reviews that suggest only a few customers have shared their insights.
The positives about Binarium shared by the customers were similar to what we already discussed; their high profits, easy signup, and no educational requirements are sweet perks to attract users. However, the negative reviews were concerning and raised red flags about the brand.
We found multiple reviews claiming the broker was a ‘scam.' Customers had to face severe difficulties in withdrawing their payments.
Usually, they fail to get any positive response even after a month. Customers claim that the broker showed high profits in the beginning to attract investments; however, once they asked for a withdrawal, everything changed.
Many users suggest that Binarium required excessive legal documentation from customers to withdraw from their business account; the documents weren't present with most users; thus, the withdrawal wasn't processed. However, as there are only a few reviews on most platforms, we can't be sure about their legitimacy.
If you look keenly, some reviewers have added a negative remark, primarily to promote a chargeback service. There is a fair chance that these customers never used the service.
Binarium Spreads, Fees, and Commissions
Binarium is a binary options broker, and it is known for its high-profit turnover. The founders have made it easily accessible to the masses; therefore, the trading and signup costs are pretty minimal. Users can open a trading account with a minimum deposit of $10 and trade with only $1.
Per our reports, the website has switched domains several times over the last few years, and the current domain presents little information about its trading spreads.
Previously, the Binarium trading platform charged spreads on different categories starting from 1. However, in our recent discussion, their agent suggested that Binarium has stopped charging any trading fees from its users.
It's done to ensure that traders keep most of their profits. Similarly, Binarium's payout ratio fluctuates between 60%-130% based on your category. Binarium has also launched a tradeback feature for its traders.
Some of its account types offer a tradeback of 12.5%. Overall, traders don't need to incur any costs during their trading period with Binarium; they charge no platform or other trading fees. However, we'll discuss a few critical conditions for charging withdrawal in the respective section.
Account Types
Binarium has their fair share of pros & cons, but they can be a good choice for new traders starting their journey. The easy trading platform and demo account feature make users comfortable while trading. Binarium has about 5 real-time account types that come with varying features.Start account: it is the primary account type and can open with a minimum deposit of $5. It gives you access to 46 different assets and has a weekly withdrawal limit of $100. The withdrawal time for the Start account is about 5 days.
Standard Account
It can be opened with a minimum deposit of $100. It comes with a 5% tradeback bonus and enables traders to access over 53 assets. Traders can withdraw up to $500 weekly. The withdrawal requests are processed within 3 days.
Business Account
Any user can open a business account for as low as $500. It has a tradeback bonus of about 10%, and you can trade up to 61 assets. The weekly limit is $2000, and you can request $200 at a time. The proprietary trading platform is offered alongside a business room.
Premium Account
traders can create a premium account with an investment of $2000; it is remarkable in terms of withdrawal processing, and users can receive their withdrawal within 1 day. They can also withdraw up to $4000 every week. It comes with 73 trading assets and an over 12.5 % trading bonus.
VIP Account
The best account at Binarium is the VIP account that gets traders access to a separate VIP trading room. It has a minimum deposit of $5000, and traders can trade up to 78 different assets. The weekly withdrawal limit is $10000, and the account has no limit for your simultaneous trading. You can access the trading room for trading plan development and discussion with expert traders.
Binarium also offers a demo account with about $1000 in virtual funds. Demo account users can access the same Binarium platform as other real-time users. If you're new to trading, we suggest you use the demo account to experience the binary options market and develop a trading plan.
How To Open Your Account
Binarium's popularity is mainly among novice traders; it offers unparalleled trading ease that attracts new investors. The signup procedure for a standard account is simple; there are no demands for legal documents. As the broker is not registered, it doesn't have to comply with any KYC/AML requirements that quicken the complete signup process.
- You can start by heading to the official website. The form is available on the first page, and you can start by filling in your name, email, and password.
- Next, you'll receive a verification email on your email. Tap on the link in the email to go to the Binarium online platform.
- From the top bar, you can select your account type and mode of payment transfer.
- Once you've made the transfer, it'll take a few hours to access your real-time account.
Binarium gives you access to separate trading rooms based on your account type; the platform doesn't contain any extra features, and most educational resources are available on the website. You can start trading by selecting the up/down movements.
What Can You Trade on Binarium
Binarium gives you access to over 78 different trading assets for the VIP account; the standard account has access to 46 trading assets. As per Binarium's website, the binary options are based on Forex and cryptocurrencies. Traders can choose a specific category for their trading priority, and they will get specific options.
By default, the binary options come with Forex and crypto as underlying assets. The broker's Forex catalog includes multiple currency pairs, including EurGbp, EurUsd, GbpUsd, and UsdChf. The cryptocurrency usually consists of different Bitcoin, Litecoin, and ripple pairs.
Per their support team, Binarium has also added stocks to their asset offerings; the collection consists of all mega stocks, such as Microsoft, Amazon, Apple, and Google. Overall, we feel binary options are highly risky, and with Binarium's limited options, traders have little control over the investment.
Binarium Customer Support
Usually, experts appreciate Binarium for its profits and ease, but an overlooked feature is its customer support. It is now available in multiple languages, and their newer recruits can converse in multiple languages. You can communicate with Binarium through live chat, email, phone, telegram, and trading rooms.
The live chat impressed us; we communicated with the agents multiple times to discuss our security concerns, and they were highly responsive. The agents have remarkable information about the trading platform and may also guide you about preferred educational resources and training.
A phone call is also an excellent option for instant response, but you may have to wait several minutes to connect with an agent. Email service is generally slow, and it can take 1-24 hours to get your desired response from Binarium.
Generally, the trading rooms are for like-minded traders to interact with, but top executives also monitor them. They can reply to a common problem and guide traders about an upcoming change in the platform.
Advantages and Disadvantages of Binarium Customer Support
Contacts Table
Security for Investors
Withdrawal Options and Fees
The biggest concern that most customers faced with Binarium were their withdrawal policy. So far, we haven't found any noticeable evidence from the broker or any third party to refute the claims. Binarium's withdrawal policy is different for its five account types; the VIP accounts can get withdrawal within a single day, but Start accounts may need up to 7 days.
Unlike other brokers, Binarium doesn't only have a minimum withdrawal limit, but it also has a maximum withdrawal limit. It means that traders can't withdraw their amount even if they have it in their balance. The weekly limit is sufficient for novice traders, but the daily limit is relatively low and should be updated.
As per Binarium's representative, Binarium doesn't charge any withdrawal fee; it offers MasterCard, visa, and crypto wallets for both deposits and withdrawals. Some methods may charge a commission as an intermediary, but Binarium takes the responsibility of paying it.
The goal is to help traders receive their total profit. However, there is a catch. If the trader withdraws double the amount than their deposit, Binarium is entitled to 10% of the amount due to its withdrawal service.
Overall, the withdrawal policy doesn't seem as sketchy as some users had painted. However, we won't deny that some policies were unnecessary and may harm unwary users.
Binarium Vs Other Brokers
#1. Binarium vs IQ Option
IQ Option is one of the most popular binary options brokers worldwide. They have catered to over a million customers since their inception in 2013. IQ option's security is its selling point; official financial authorities regulate them in the European Union.
The website also contains comprehensive details about their licenses and services. Contrarily, Binarium's biggest flaw is its weak security; the broker has no regulatory licenses, and the website contains little details about their registered addresses. They have been blacklisted by leading financial authorities, making it difficult for traders to trust them.
If we look at trading platforms, IQ options take the lead again; it has a diverse platform where traders can use different indicators and tools to check for movements. IQ options also have a larger range of asset offerings that keeps the options less volatile than otherwise.
Binarium, on the other hand, has no more than four features in its trading platform. You can either participate in bonus schemes or trade; they have no other option on their mobile trading app. However, the website contains information about the training programs.
Traders can open an account on both platforms for as low as $10. The average payout percentage for the IQ option is 75%, with a maximum of 90% in case of correct prediction.
In Binarium's case, significantly higher profits are promised, and the average rate fluctuates between 70-130%. Overall, we would prefer IQ options ahead of Binarium; IQ options are more reliable and have a higher range of assets, a better support network, and advanced trading platforms.
#2. Binarium vs Pocket Option
Pocket option has also risen to fame amongst binary options traders; their high payout ratio has made them a preferred choice among customers. If we compare the two brokers, the Pocket option has better security.
Both brokers target the Russian market primarily; however, Pocket option has the FMRRC and MISA licenses that make them credible compared to Binarium. Pocket Option also has many positive reviews in the last five years to suggest their reliable services. We can't say the same about Binarium.
Pocket option allows its traders to trade with a minimum deposit of $5. However, the range of assets offered by Pocket option is significantly higher than Binarium.
Binarium offers only 46 assets for its basic account, while Pocket Option can offer up to 130 assets, including stock, Forex, and crypto. The wide range makes Pocket Option more credible than its counterparts.
Similarly, Binarium also stays behind due to its less-advanced trading platform. Although the trading platform is easy to use, the lack of features is often cumbersome for experienced traders.
They have to switch to a third-party platform to evaluate the market as the trading platform doesn't allow the features. On the contrary, Pocket option offers both a website trading platform and the MT5. It lets traders trade in a comfortable environment and make deals based on their expertise.
Precisely, we can infer the Pocket option is a significantly better broker than Binarium. Their better security, trading platforms, services, and asset range are valuable perks to ensure long-run profitability for traders.
#3. Binarium vs RaceOption
RaceOption is a relatively new entrant in binary options trading, and traders will often like to compare Binarium with RaceOption to reach a final decision. If we look at the security and licenses, both brokers haven't met the required industry standards, and they can improve their standings.
Race Option was founded in 2017 but hasn't obtained any legal licenses. Binarium is similar; however, RaceOption has received better customer reviews than Binarium, suggesting the latter may be a better option.
Regarding trading assets, RaceOption has a wider asset collection, offering up to 150 different assets, including stocks, crypto, commodities, and Forex. Binarium has a relatively lower range, and most of its accounts offer less than 70 assets.
RaceOption and Binarium share the same minimum deposit of $5, and traders can make a trade worth as low as $1. We can't differentiate between brokers regarding accessibility, and we should consider other aspects for a better conclusion.
The next aspect in comparison is their trading platforms, and RaceOption is a clear winner; It may have the best platforms on our list. The broker offers MT4, MT5, web trader, and mobile app for traders to evaluate, analyze and study different securities.
It allows traders to trade in a comfortable atmosphere and practice their strategies. However, their copy trade feature is pretty restricted, and traders may like Binarium's copy feature.
Overall, we have a clear winner in RaceOption. However, we won't suggest RaceOption as an ideal broker due to their lack of a trading license. You should opt for a broker with regulatory licenses, so your funds are protected.
Nonetheless, if you only have these two options, you can choose RaceOption due to its additional features.
Conclusion: Binarium Review
In every review, our goal is to present a transparent picture that helps traders make a decision. We ensure to analyze a broker under our strict evaluation criteria to give a good recommendation. As we saw in comparison, Binarium isn't the best choice for binary options traders; IQ option and RaceOption are also good choices that can assist in long-run profitability.
Binarium's best advantage is its profit-oriented approach. The broker has provided valuable opportunities for traders to gain good returns; they provide multiple timely bonuses alongside great payouts, helping traders change their livelihood. The customer service is also impressive, and they can assist you in tuning your personal strategy.
However, binary options trading relies heavily on brokers' reliability, and we couldn't find trustable documents to confirm Binarium's legitimacy. There are a few concerns about their withdrawal methods, which may hurt traders if they aren't cautious.
Binarium Review FAQs
Is Binarium legit?
Binarium has been operating since 2012, claiming they are registered in Cyprus. CNMV, CONSOB, and CYSEC have issued multiple warnings against them. Similarly, we also found multiple customers reviews accusing them of fraudulent activities.
Overall, we can't term Binarium as ‘legit,' but if the evidence changes, their reliability may improve.
How does Binarium make a profit?
Binarium is a binary options broker; usually, binary options brokers make money by taking opposite positions of their traders. If the trader makes a profit, Binarium loses, and vice versa. However, Binarium also has an investment retention policy that helps them stay afloat even if they incur losses.
How reliable is Binarium?
Any broker's reliability is judged by their licenses and review in the trading community. However, none of the evidence supports Binarium. They aren't regulated by any regulatory body in the European region; the broker has been delisted by CNMV, CONSOB, and other leading bodies.
Many existing traders have portrayed negative remarks regarding their withdrawal policy, and we have multiple articles claiming them as ‘scam.' However, they have been around for 12 years, and we can see a few users applauding their profits.
