Binarium review – Is it a scam broker?

In the Binarium review we will tell you about all its advantages and disadvantages. Should you trust it or it is just another scam broker?

Binarium provides binary options trading services and is one of the top platforms in Russia and the CIS. Broker was founded in 2012, but it is practically not found in the world ratings and there are few reviews on it. It is worth noting that there are few brokers for trading binary options in Europe, and Binarium is one of them. Is the broker scam or undervalued?

Trading conditions on Binarium

Is Binarium safe or a scam?

The broker is owned by Binarium Limited, whose main office is located at Office 02, 9 Kappadokias, Dasoupoli, 2028, Nicosia, Cyprus.

Binarium is not a regulated broker. But it is worth noting that the lack of regulation of binary options brokers is not a signal to accuse the broker of scam.

It has a good reputation, the platform has been working steadily since 2012 without rebranding. The broker’s liquidity provider is Leverate. Real reviews can be found both positive and negative. But there are no real reviews that the broker does not withdraw money. There is also no suspicion of scam in the offered trading conditions and functions.

A detailed review of Binarium shows that there is no reason to consider the broker a scam.

Trading platform review

Almost all the disadvantages appear when you start using the trading platform.

On your starting account, you will only have 20 assets available for trading (not 25 as indicated in the “Account Types”). Of these, only 6-9 of them have a relatively good profitability of 70-80%, depending on the time of day. The maximum available number of assets at the moment is 46.

Then we select the options expiration time. It can be 1-5 minutes or 5+ minutes. When you open a tab for 5+ minutes, you will be disappointed. You cannot set your own expiration time, but you can only select it from some of the suggested ones. And they are also few. For example, at 9:50 am, the following options are available.

Everything is ready to open the option. When opening an option, you will notice the most important drawback – it is a huge delay of about 2+ seconds. After the option expires, the delay can be much greater. The trading platform is very slow. And all this happens during a period of low volatility with a good internet connection without ping.

At the bottom right of the platform, you can change the type and period of the chart, as well as add trading indicators and charting tools. There are many chart periods (14), but few trading indicators (10).

When you review the Binarium trading platform, you try to find something good. Um … Um … There is a free demo account for $ 10,000! And it can be replenished if you lose it completely. They have free tournaments with a $ 1500 prize pool. There are also paid tournaments.

Deposit, withdrawal and bonus

Binarium has a low minimum deposit of $ 5, minimum withdrawal of $ 10. The maximum deposit per transaction is $ 10,000. The maximum withdrawal depends on the type of account (up to $ 100,000 every month for VIP)

Binarium has 11 methods of deposit and withdrawal for all countries: Visa/Mastercard/Mir, Qiwi wallet, Webmoney, Yandex.Money, Alfa-Click, Bitcoin, Ethereum, Litecoin, Ripple. Moreover, 4 of them are suitable only for the CIS countries, and another 4 are cryptocurrencies.

Broker does not charge deposit and withdrawal fees and covers the fees of the payment system. However, if your trading volume (the sum of all your trades) isn’t at least twice as big as your deposit, the may not cover the 10% fee of the requested withdrawal amount.

Verification is required to withdraw funds. If your account is successfully verified, then the withdrawal request will be processed in about 1 hour.

Binarium offers good deposit bonus up to 100%, which can be withdrawn if you make a trade turnover 40 times the bonus amount. The broker gives a 100% welcome bonus and can send a promo code by email. Binomo (trading turnover ×35 ) and PocketOption (trading turnover ×50) have the same bonuses.

Account types and mobile app

The broker has 5 types of account (excluding demo): Start, Standart, Business, Premium and VIP. In the image below and on the binarium.com website, you can find their benefits.

The system of privileges depending on the deposit is done well. The most necessary privileges of statuses are tradeback (cashback) and the number of trading assets. Tradeback is credited every week if you have lost part of your deposit. Only with VIP status, tradeback is returned as real funds.

When you get a certain status, assets of countries and leaders become available for trading. Therefore, at first you will be surprised when you notice the assets “Putin”, “Trump”, “Merkel”, “USA”, “Germany” and others.

According to the Binarium website, using big data, the AI algorithm determines the ranking of countries and leaders, turning the result into a trading asset.

Millions of information items appear on social networks and media every day: news, financial and market ratings, reports from world forums. Processing information on the fly, the AI algorithm generates a dynamic rating of countries and leaders.

It is not known how true this is, but one thing is clear. Instead of such a feature, it would be better to make a good trading platform without lags.

In addition to the web platform, Binarium has a mobile app only for Android. And in it, positions are also opened with a long delay.

The Binarium review is coming to an end, it remains to summarize the advantages and disadvantages.

Pros and Cons

Conclusion on the Binarium review

As a result of the review, it can be seen that the binary options broker Binarium needs to think about improving the platform. Most of the disadvantages are due to poor trading conditions. With the high competition among binary options brokers, they constantly need to implement improvements. Unfortunately, the Binarium broker got stuck in 2012-2015 and left everything as it was.

Binarium can only be considered in the absence of serious competition. For example, Binarium is one of the few trading platforms that operates in Europe and Russia. Otherwise, it is recommended to choose a more modern broker with better trading conditions, such as IQ Option, Olymp Trade or Binomo.

You can choose one of the best binary options brokers in this ranking.

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