Is Binarium a legit broker or a scam

Binarium is among the top most discussed binary options brokers. The company positions itself as a reliable partner for traders. Each company client can count on a large selection of trading assets, instruments, and pleasant bonuses. However, there are many rumors and contradictory reviews surrounding Binarium. In this review, we will thoroughly analyze the broker's activities, examine its advantages and disadvantages, and try to answer the central question: is Binarium a legitimate binary options broker?

Table of contents:

• Is Binarium legit?
• What is Binarium?
• History and statistics of the Binarium broker
• Regulation

1. Jurisdictional Considerations
2. Restricted Jurisdictions

• Security of Funds and User Data
• User satisfaction
• Account Types
• Trading Assets
• Binarium trading hours (GMT)
• Deposit and Withdrawal

1. Accepted payment methods
2. Currencies

• Broker quotes
• Binarium fees & commissions
• Demo account
• Trading platforms
• Mobile app
• Technical platform issues
• Is it easy to open a Binarium account?
• How to trade on Binarium? 
• Tournaments
• Bonuses and promotions
• Binarium affiliate program
• Customer support
• Research & Education
• Who should consider using a Binarium?
• Pros and cons of Binarium
• What's new in Binarium in 2024?
• Should you trade binary options on Binarium?
• FAQ

Is Binarium legit?

Binarium has been providing financial services for 12 years, which indicates some level of stability. However, the broker needs more regulation by any monetary authority, which causes distrust among traders. We are still looking for documents confirming Binarium's legitimacy. Therefore, we cannot call it legitimate in the complete sense of the word. If the regulatory situation changes soon, it will significantly increase confidence in the broker.

What is Binarium?

Binarium has been operating as an online binary options broker since 2012. Traders created the trading platform, so it includes everything necessary for starting the career of novice investors. Over the years, the company has been developing the functionality of its trading terminal and expanding the list of available instruments. As a result, users now benefit from advanced chart settings, new technical indicators, and the ability to trade on the OTC market during weekends and holidays. Binarium maintains several offices in Latvia, Ukraine, Saint Vincent and the Grenadines, with its headquarters in Cyprus.

History and statistics of the Binarium broker

Binarium actively develops, adding new features to its platform every year.

Regulation

The broker Binarium operates without regulation by any financial body, which understandably raises concerns among many binary options traders. The company holds registrations in Saint Vincent and the Grenadines and Cyprus.

However, the broker's lack of a license does not automatically label it fraudulent. Its long-standing presence in the binary options market and numerous positive reviews suggest otherwise.

Jurisdictional Considerations

Binarium Limited owns the broker Binarium, registered at 1599 СTD 2016, Suite 305 Griffin Corporate Centre P.O. Box1510, Beachmont, Kingstown St. Vincent and the Grenadines.

Restricted Jurisdictions

To access Binarium's services, you must not be a citizen or resident of the following jurisdictions: Canada, Israel, Palestine, Japan, Sudan, Syria, Iran, North Korea, or the European Economic Area. Additionally, you must not reside in any country where offering binary options services violates local laws or regulations, nor can you qualify as a reportable person under U.S. regulations.

Security of Funds and User Data

BINARIUM LIMITED processes and manages user data. Its office is at Office 02, 9 Kappadokias, Dasoupoli, 2028, Nicosia, Cyprus. Binarium uses personal information to verify user identities during registration, validate payment details, manage accounts, and communicate with clients while providing services and fulfilling other objectives.

According to its privacy policy and commitment to protecting user rights, Binarium allows clients to request the deletion of their accounts and associated personal data. To protect traders' funds, Binarium keeps them separate from the company's funds and other clients' money. The company also commits to using client funds solely for purposes outlined in the client agreement.

User satisfaction

We researched user reviews on reputable platforms to form an unbiased opinion about Binarium. Here's what we found.

Negative reviews about the broker are online. However, closer examination shows that many of these cases involve traders breaching the client agreement, which resulted in the company blocking their accounts. Therefore, we recommend that traders carefully review the user agreement before trading.

Account Types

Binarium's trading conditions vary based on the selected account type, with five options: Start, Standard, Business, Premium, and VIP. The table below describes each of them.

Now, let's look at each account type listed above.

1. Start ($0 to $100): This account type suits beginners. It allows trading options on 68 essential assets. However, it does not include additional bonuses or access to a trading room.
2. Standard (from $100 to $500): Traders on this account can expect a trade-back bonus — a partial reimbursement of losing trades — credited every Tuesday at noon UTC+0. Traders have access to 77 assets.
3. Business (from $500 to $2000): This account type provides access to a trading room where experienced traders share their signals and assist newcomers in earning. Traders can trade 93 assets.
4. Premium (from $2000 to $5000): The number of available assets increases to 113, and the maximum amount for open positions rises to $2500.
5. VIP (from $5000): If you deposit this amount into your Binarium account, you can receive a cash bonus that is available for withdrawal. Otherwise, you will have to work off such accruals by making trades.

Trading Assets

The broker offers over 50 assets, such as stocks, currency pairs, indices, metals, and cryptocurrencies. Binary options payouts vary depending on the expiration time and the volatility of the specific asset. The maximum payout reaches 91%.

Binarium trading hours (GMT)

Assets on the Binarium platform follow a standard trading schedule. Each session operates during specific hours tied to the opening times of international financial centers. For example, the European session starts when Frankfurt opens at 8:00 and ends when London business centers close at 18:00 (GMT+2).

Deposit and Withdrawal

To ensure the smooth withdrawal of funds, users must complete the identity verification process and submit copies of all required documents to Binarium's financial department. This procedure is in place to prevent potential fraud and money laundering.

Accepted payment methods

Typically, binary options brokers offer several account funding methods. The limited company operates a Binarium in the same way. The minimum deposit requirement is just $5, which is convenient for retail clients.

You can fund and withdraw using Visa and Mastercard credit cards, payment systems such as Sky Pay and Bank QR, and cryptocurrencies: Tether, Bitcoin, TRX, Litecoin, Ripple, Tobcoin, USD Coin, Ethereum, Dogecoin, Binance Coin, and POL. You can also use PiastrixWallet and FKWallet for transactions.

The initial deposit amount and withdrawal of funds is just $5. The platform adds a bonus to each account upon the first deposit. Additionally, traders can use special promo codes from Binarium to increase the size of their initial trading accounts.

Currencies

We found that the Binarium platform allows you to choose a currency for your trading account during the profile registration. The broker offers official currencies, including US dollars, euros, Australian dollars, Ukrainian hryvnias, and cryptocurrencies.

Please note that you cannot change the account currency once you complete the registration. For a Binarium trading account in a currency other than US dollars, the platform calculates all limits (deposits, withdrawals, and open trade amounts) based on the current exchange rate. You can also use Bitcoin or Litecoin as account base currency.

Broker quotes

The quality of binary options trading largely depends on the quotes, so Binarium pays significant attention to them. The exchange data provider is the third-party company Leverate, which specializes in providing technological solutions for brokerage firms.

Suppose clients need clarification about the relevance of the broker's quotes. In this case, they can request a data reconciliation from the support service, which will verify the quotes in the trading terminal with the liquidity provider.

However, it's important to note that the data transmitted in the trading terminal may differ from what other brokers provide. Because some financial instruments do not have a single centralized trading venue, liquidity providers transmit exchange data from various sources using services from different providers. Nevertheless, according to experienced traders, the quality of your trading is not affected.

Binarium fees & commissions

The binary options broker does not charge trading fees. Withdrawal fees are also not charged. If an options contract expires from the money, you lose the entire stake. For a successful trade, you receive your stake plus a payout percentage of up to 91%.

You might encounter third-party withdrawal charges when using specific payment systems for deposits or withdrawals. Binarium does not impose any other third-party charges.

If you are interested in margin trading or using leverage rates, Binarium does not offer these options. The broker focuses exclusively on binary options and does not provide Forex or CFD trading services.

Demo account

After registering on the broker's platform, each client gets access to a demo account with 10,000 USD. This free demo account is available permanently. You can switch to it at any time. On it, new traders can test various strategies and learn how to work with the trading platform. This feature will make it easier for beginners to switch from a demo to a live trading account.

Trading platforms

This broker offers one trading terminal available in major web browsers. In it, you can place fixed trades with binary options, receive signals from experienced traders in the trading room, and conduct technical analysis of financial markets.

We found that Binarium does not provide access to Forex or CFD trading. Therefore, clients have only the web browser terminal and a mobile app, which we will discuss further in this review.

Mobile app

The Binarium mobile app allows traders and investors to respond promptly to changes in the financial market. The broker offers clients two mobile app versions designed for Android and iOS operating systems.

The mobile terminal's appearance resembles the browser version and mirrors its interface. Traders note the similarities between the two versions of the Binarium trading platform, which is convenient if you work on different devices.

However, mobile software is different because it has a smaller screen size, limiting the number of charts you can view simultaneously. In addition, you can download an APK file from the broker's website with all the necessary components of the mobile app. This feature lets you install the mobile trading terminal without visiting official digital stores like Google Play or the App Store. We recommend using this installation method when the official sources only offer outdated app versions.

Technical platform issues

Active development of Binarium software sometimes leads to malfunctions. Traders report such technical problems:

• Some traders have encountered additional document verification requirements before withdrawing funds from the trading platform.
• Occasionally, traders complain about slow customer support response times and wait for email replies.
• Users from certain countries report being unable to use the platform even after successfully making a deposit.
• Users report multiple rejections of their documents without clear explanations for the reasons.
• The company often cites violations of the terms of use but fails to provide specific details.

The active adoption of new technologies initially disrupted the trading platform's performance. However, thorough software testing and prompt issue resolution successfully eliminated all problems.

Is it easy to open a Binarium account?

The account registration process with Binarium is straightforward and takes just a few minutes. The user must provide a valid email address and password and choose the account currency on the broker's website.

The company offers clients different base currencies: Ukrainian hryvnias, US dollars, and euros. Bitcoin and Litecoin are other currency options.

To simplify platform usage, you can register through the Google social network. We recommend correcting your personal Google account information if you choose this option. Otherwise, you may register with incorrect details, preventing you from completing the identity verification process in the future.

How to trade on Binarium?

Executing trades on the Binarium platform is as simple as on other binary options brokers' platforms, and the process is straightforward. It follows a standard algorithm:

1. Choose an asset: The trader selects the asset they want to trade from the extensive list provided by the platform.
2. Determine the direction: The trader predicts whether the asset's price will increase or decrease within the chosen time frame.
3. Set the expiration time: The trader chooses when the trade will automatically close.
4. Set the investment size: The trader sets the amount they are willing to invest in the trade.

5. Opening the trade:After confirming all parameters, the trade opens.
6. Waiting for the result:The trader waits for the option's expiration and sees the outcome of the trade.

Tournaments

Earlier, this broker held two free and paid tournaments with different prize funds. However, at the time of writing this review, they were no longer held. According to the support service, the team is performing technical work to improve the functionality of the "Tournaments" section. In this regard, the broker has temporarily paused the launch of new tournaments. The team of Binarium specialists is doing its best to complete the work as soon as possible. However, the exact date of resumption of tournaments still needs to be discovered.

Bonuses and promotions

A bonus represents additional funds the brokerage provides to enhance traders' trading potential. The bonus does not limit the amount of funds you can withdraw: at any time, you can withdraw both the profit and the entire deposit. However, remember that unused bonus funds that have yet to reach a turnover of 40 will become inactive and be deducted from your account when you withdraw funds.

For everyone interested in trading on the Binarium platform, we offer a promo code that can double your trading volume. For example, if you transfer $100 to your trading account, $200 will appear. The advantage of the bonus program is that the user can increase the potential profit at the expense of the broker's bonus funds, not for their own money.

To get the welcome bonus, enter the promo code WINOPTION in the designated field that appears when you enter your name and phone number during registration. The bonus is credited when you deposit at least $20.

To get the promo code:

1. Visit the official Binarium website to sign up.
2. Input your email, set a password, and choose your account currency.
3. When entering your name and phone number, you'll see a "Partner Promo Code" field on the second registration step.
4. In this field, enter WINOPTION.
5. After depositing at least $20, you'll automatically receive a 100% bonus for further trading.

Binarium affiliate program

For the duration of its operation, the Binarium affiliate program has built a strong reputation thanks to high-quality service and fully transparent financial relationships with partners. The Binarium trading platform offers its clients access to trading 24/7, allowing them to earn at any convenient time. Accordingly, you can also gain from the clients you refer. The more deposits made through your affiliate links, the higher your income.

Partnership with the CLEVERAFF affiliate program is available through various models:

1. The RevShare model provides partners with a stable income throughout the client's activity in the form of a percentage of the company's earnings from each active client. The commission percentage ranges from 50% to 70%, depending on the number of first-time deposits made during the reporting period.

2. CPA (Cost-Per-Acquisition)– This is a one-time payment per acquired trader. After attracting more than 500 first deposits within a month, you can request this tariff plan from your manager. The conditions for this tariff are individualized for each partner and are calculated based on the traffic you've attracted. The one-time payment per acquired trader is $20.
3. Hybrid (CPA $25 + RevShare 25%)– This is a hybrid program that combines a one-time payment of $25 per trader who deposits at least $50 with absolute trading volumes of $100, as well as a lifetime 25% share of the platform's income from that trader.
4. Turnover Income– This scheme offers a 2% commission on the total amount of each trade opened with real funds.

Customer support

Every Binarium client can contact the company's support service with any questions. The broker's technical support works Monday through Friday from 10:00 to 19:00. Specialists ts promptly answer incoming questions to solve users' problems quickly. It is best to do it via online chat on the trading platform or the broker's website. You can also ask questions by official e-mail address, Telegram bot, or phone.

Research & Education

The Binarium Broker's website and trading platform provide educational materials: articles and videos. The "Education" section contains information on trading basics, trading account management, flexible withdrawals, bonuses, trading assets and quotes, and educational videos.

Who should consider using a Binarium?

The Binarium platform is suitable for both novice and experienced binary options traders. Both use different trading strategies and have different goals. Let's explore what attracts them to this broker platform.

For Beginner Traders

This trading platform attracts novice traders by offering a demo account. The virtual account lets them get acquainted with the trading terminal and test strategies without financial risk. Beginners can start trading popular asset classes like currency pairs or stocks of well-known companies, which helps them quickly learn the basics of trading and minimize risks at the initial stage. Educational materials and a low minimum deposit of $5 will assist them in this.

For Experienced Traders

Experienced traders like the technical analysis tools on the Binarium platform for testing complex trading strategies. Professionals are also attracted to the Binarium terminal because of its speed, which is essential for a scalping strategy. In addition, experienced users have access to professional accounts with advanced features.

Pros and cons of Binarium

What's new in Binarium in 2024?

In 2024, the broker Binarium paused its trader tournaments. According to customer support, technical issues and ongoing efforts by the company's specialists to improve the "Tournaments" section of the platform caused the suspension. The exact timeline for resuming competitions and tournaments remains to be determined.

Should you trade binary options on Binarium?

In every review, we aim to provide an honest and objective evaluation of binary options brokers. We analyze each company against strict criteria before offering our recommendations. For this reason, we cannot claim that Binarium is the ideal broker for binary options trading. The lack of regulation and licensing prevents us from calling it a reliable and established online broker.

However, the company does have strengths. The broker accepts payments in various currencies, including cryptocurrencies. Other notable advantages include high-quality educational resources, an economic calendar, and a trading room offering signals from experienced traders. With the option to choose between different account types, every trader can find conditions that suit their trading style here.

FAQ

Who is the owner of Binarium?

Binarium Limited owns the broker Binarium, registered at 1599 СTD 2016, Suite 305 Griffin Corporate Centre P.O. Box1510, Beachmont, Kingstown St. Vincent and the Grenadines.

Can you earn money on a Binarium?

Can I trade on a Binarium from my country?

The ability to trade on the Binarium platform depends on your nationality and country of residence. Before opening an account, ensure your country is not on the list of restricted countries. You can find this list on the broker's official website's homepage.

What is the minimum deposit on Binarium?

The minimum deposit to create a trading account with the binary options broker Binarium is only $5. This amount is enough to explore the trading terminal, familiarize yourself with the technical indicators, and test your strategy without the risk of financial losses.

How does the Binarium compare to other binary options brokers?

Binarium is one of many brokers in the binary options market. It offers unique trading conditions, a platform, and tools. Therefore, comparing this platform with other brokers is a personal choice. Each trader looks for advantages: some value a wide range of assets, others prefer low fees, and some prioritize platform convenience. To choose the best broker, we recommend thoroughly examining the offerings of several platforms and comparing them based on critical criteria.

Is Binarium a good or bad binary options broker?

Labeling Binarium as a "good" or "bad" broker is tricky. Traders' opinions vary. Some praise the wide selection of assets and the user-friendly platform. In contrast, other traders complain about withdrawal issues and lack of regulations. We advise you to study real traders' reviews thoroughly and only then decide to cooperate with this broker.

Does Binarium have Bots?

Officially, Binarium offers a single bot to communicate with customer support. You can access it directly from the broker's homepage. This Telegram bot provides a convenient and fast way to receive assistance or consultation on any questions.

Is there a strategy for trading on Binarium?

Undoubtedly, any trading strategy with a win rate above 60% works well on the Binarium platform. We recommend testing the live account features on a demo account beforehand. Otherwise, you may lose your money.

Is Binarium suitable for beginners?

Traders often recommend Binarium to beginners due to its intuitive interface and demo account availability. This feature allows newbies to become familiar with the platform without the risk of losing real money. Additionally, we advise beginner traders to study technical analysis and risk management basics.

Are transfers available in cryptocurrency?

Yes, Binarium also accepts cryptocurrency transfers. You can use Bitcoin and Litecoin as the base currency for your trading account.

Is it necessary to carry out verification immediately after registration?

No, completing identity verification immediately after registering a new account is not mandatory. However, we strongly recommend doing so to avoid future issues when withdrawing funds. Remember, only verified accounts can withdraw their funds.

Open an account in Binarium

See also:

How to verify an account with Binarium

How to open a new account with Binarium?

Mobile application for binary options broker Bianrium

What are the benefits of a VIP account with the Binarium broker?

The whole truth about the binary options broker Binarium

Binarium broker promotional codes