BInarium Review 2023: Is it a Legit Broker? Is it a Scam? User Experiences and Verdict
Binarium was launched in 2012 in Saint Vincent and the Grenadines as a binary options broker offering a range of trading instruments including currencies, cryptocurrencies, and metals.
Notably, Binarium is best used by beginning traders who do not know anything about binary options trading yet but would like to learn how to trade fast.
The minimum deposit in Binarium is only $5 and the minimum trade amount is $1 making it easier for anyone to get started.
If you ask me, that is the lowest minimum deposit you will find offered by any binary broker in 2023.
You can fund Binarium via Neteller, WebMoney, and even cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple.
As we continue with this review we will consider a number of factors including: –
- How to register in Binarium
- Binarium Account Types
- Binarium Bonuses
- How to withdraw in Binarium
- Binarium Login
- Trading Tools
- Mobile Apps
- Binarium Demo account
- Risk Free Trades
- Binarium Tournaments
Among other features
1. How to Register in Binarium
Getting started with Binarium is easy. Follow these straightforward steps to create your trading account:
- Visit the official Binarium website: Head over to the Binarium’s official website using your preferred web browser.
- Sign-Up Button: Look for the “Sign Up” button on the website’s homepage. Click on it to begin the registration process.
- Fill in Your Details: A registration form will pop up. Provide your accurate information: your name, email address, and password. Ensure that your details are entered correctly to prevent any future issues.
- Select Your Currency: Choose the currency you’ll use for trading. Binarium supports various currency options to cater to traders from different regions.
- Complete the Registration: Click the “Open an account for FREE” button to finalize your registration. Binarium will likely send you a verification link to the email address you provided.
- Verify Your Email: Open your email inbox and find the verification email from Binarium. Click on the verification link to confirm your email address.
Account Verification: Though not required at this stage, you can take additional verification steps to comply with regulations. Be prepared to submit identification documents like a passport or driver’s license.
Once your account is verified, you can log in to your newly created Binarium account. From here, you can explore the platform and its features.
2. Exploring Binarium Account Types
Binarium has three different account types tailored to meet the trading needs of different traders.
Each account type comes with its own set of features and benefits, catering to traders of different experience levels and preferences.
Here are some of the benefits you will get from each account type:
i. Start Account
The Binarium Start Account is your entry point into real account trading on the Binarium platform.
It is simple and requires a small deposit to get you started.
Here Are the Account Details for the Binarium Start Account
- Deposit Amount: Starting from just $5 to $99.99, the Binarium Start Account allows you to begin trading with a small initial investment.
- Tradeback: The tradeback feature offers traders the opportunity to recover a percentage of their losses. If you’re on the start account, you will not get any Tradeback.
- Trading Assets: Though few, you will get access to 46 assets with a start account, and trust me, if you know how to trade, you can still make money with that small deposit.
- Withdrawal Limits: The withdrawal limits are set at $50 per day and $100 per week. Though unfair, this is it. If you want to withdraw more then you should strive to get started with an account in a higher tier.
- Withdrawal Request Processing: Withdrawal requests are typically processed within up to 5 business days on the start account
- Trading Room: You will not get access to the Binarium trading room with a start account.
- Simultaneously Open Trades: The account allows for a maximum of 100 simultaneous open trades.
ii. Binarium Standard Account: Stepping Up Your Trading Game
The Binarium Standard Account is designed for traders who are ready to elevate their binary options trading experience.
With a slightly higher deposit requirement, this account type offers enhanced features and benefits that cater to those seeking more advanced trading opportunities.
Standard Account Details
- Deposit Amount: The deposit range for this account type is $100 to $499.99.
- Tradeback Bonus: If you are on the Standard Account you will get a 5% tradeback bonus, allowing you to recover a portion of your losses and potentially mitigate risk.
- Trading Assets: Unlike the Start account which only offers access to 46 assets, the standard account offers 53 asset options allowing traders in this tier to trade and diversify their portfolios.
- Withdrawal Limits: The Standard Account provides increased withdrawal limits. Traders on the Binarium Standard account are allowed to withdraw up to $200 per day and $500 per week.
- Limit per Request: Each withdrawal request is subject to a $50 limit. If you ask me, this is stupid considering all other brokers allow you to withdraw what you want. After all, it is your money why subject yourself to these small withdrawal gimmicks? This is a red flag.
- Withdrawal Request Processing: Withdrawal requests are processed within up to 3 business days, ensuring timely access to your requested funds.
- Trading Room: You will not get access to the Binarium trading room with this account type.
- Simultaneously Open Trades: This account type allows for a maximum of 250 simultaneously open trades.
iii. Binarium Business Account: For Serious Traders, or is it?
The Binarium Business Account is tailor-made for traders who are committed to their craft and are ready to take their binary options trading to the next level.
With enhanced features and substantial benefits, this account type is designed to accommodate the needs of serious and experienced traders.
But what are the serious drawdowns to committing that much money to the Binarium Business account type? Read between the lines in the account details.
- Deposit Amount: This account type requires a deposit within the range of $500 to $1,999.99.
- Tradeback Bonus: If you make that deposit you will enjoy a 10% tradeback bonus, giving you the advantage of recovering a significant portion of your losses and potentially mitigating risk.
- Trading Assets: The Business Account offers access to an impressive range of 61 trading assets, empowering you to diversify your trading portfolio.
- Withdrawal Limits: With larger trading ambitions, the Business Account allows you to withdraw up to $500 per day and $2,000 per week, providing greater financial flexibility.
- Limit per Request: Each withdrawal request is capped at $100. Again this is bullshit. What if I make $20,000 in a day and I want to withdraw? Will I get $100 only? Considering that the withdrawal amount is also limited to $500 per day, does that mean that I have to place a request 5 times? This is a serious drawdown and a red flag.
- Withdrawal Request Processing: Withdrawal requests are typically processed within up to 2 business days.
- Trading Room: The Business Account includes access to a dedicated trading room, providing you with a professional environment to make informed trading decisions.
- Simultaneously Open Trades: This account type allows for a maximum of 1,000 simultaneously open trades, granting you the capacity to manage multiple trading opportunities simultaneously.
iv). Binarium Premium Account: Elevate Your Trading Expertise
The Binarium Premium Account is designed for traders who demand excellence and strive for greater heights in their binary options trading journey.
With a higher deposit requirement, this account type offers exceptional features and benefits that cater to experienced and ambitious traders.
- Deposit Amount: To unlock the potential of the Binarium Premium Account, a deposit ranging from $2,000 to $4,999.99 is required.
- Tradeback Bonus: If you make that deposit, you will enjoy a robust 12.5% tradeback bonus, providing you with a significant advantage in recovering a portion of your losses, adding to your trading efficiency.
- Trading Assets: The Premium Account grants access to an extensive selection of 73 trading assets, giving you ample opportunities to diversify your trading strategies.
- Withdrawal Limits: With a focus on accommodating larger trading volumes, the Premium Account allows withdrawals of up to $1,500 per day and $4,000 per week.
- Limit per Request: Each withdrawal request is subject to a limit of $250, ensuring that you can manage your funds effectively as you navigate the markets.
- Withdrawal Request Processing: With expedited processing, withdrawal requests are typically handled within just 1 business day.
- Trading Room: The Premium Account continues to offer access to a dedicated trading room, creating an environment conducive to making well-informed trading decisions.
- Simultaneously Open Trades: This account type extends the capability to manage up to 2,500 simultaneously open trades, allowing you to seize a multitude of trading opportunities.
v). Binarium VIP Account: Elite Trading
The Binarium VIP Account is the pinnacle of trading sophistication, tailored for seasoned traders who demand the utmost in features, benefits, and opportunities.
With a substantial deposit requirement, this account type unlocks so much exclusivity, empowering traders to maximize their trading potential.
- Deposit Amount: The required deposit amount is $5,000 for this account type.
- Tradeback Bonus: The VIP Account offers a remarkable 15% tradeback bonus, granting you an impressive edge in recovering losses and bolstering your trading efficiency.
- Trading Assets: The VIP Account provides access to an extensive range of 78 trading assets, allowing you to diversify your trading strategies and capitalize on various market opportunities.
- Withdrawal Limits: The Binarium VIP Account offers generous withdrawal limits of up to $15,000 per day and an astonishing $100,000 per week.
- Limit per Request: Enjoy the flexibility of unlimited withdrawal limits per request, ensuring you have unrestricted access to your trading funds.
- Withdrawal Request Processing: Withdrawal requests are processed within just 1 business day, ensuring swift access to your requested funds.
- Trading Room: FREE access.
Summary of account types
Each Binarium account type offers unique advantages, allowing traders to choose the one that aligns with their goals and preferences. Whether you’re a novice or an experienced trader, Binarium’s account options make it easier to get started.
Stay with us as we go further into this Binarium review, exploring essential aspects such as regulations, bonuses, withdrawal procedures, trading tools, and more.
Binarium Demo Account: Learn How to Trade Risk-Free
The Binarium Demo Account offers an invaluable opportunity for traders to refine their skills and strategies without exposing themselves to any financial risk.
With a generous allocation of USD 10,000 in virtual funds, you can use the demo account to trade for FREE on real market conditions.
- Free USD 10,000 Demo Account
- Experience All Available Features
- Practice Risk-Free
Whether you’re a newcomer seeking to understand the platform or an experienced trader honing your skills, the Binarium Demo Account serves as a valuable training ground.
Practice, learn, and refine your trading strategies before starting to trade with real money. This goes a long way to ensure your success.
Binarium Login: Access Your Trading Account with Ease
The Binarium login process is easy. If you are not sure how to do it, follow the steps outlined below to get started.
A guide for logging in on Binarium
- Visit the Website: Open your preferred web browser and navigate to the official Binarium website.
- Locate the Login Area: Look for the “Login” or “Sign In” button on the homepage. This is usually located at the top right corner of the website.
- Enter Your Credentials: Click on the login button to access the login page. Enter your registered email address and the password associated with your Binarium account and click on login.
- Security Check: Binanrium will require you to complete a security in CAPTCHA. Do that by checking the I am not a robot box.
- Access Your Account: Once you’ve entered your credentials, clicked the log-in button, and completed the required security checks, you will be redirected to your account.
How to Stay Secure in a Binarium Account
- Password Security: Ensure that your password is strong and unique, combining letters, numbers, and special characters. Avoid using easily guessable information.
- Two-Factor Authentication: If Binarium offers two-factor authentication (2FA), consider enabling it for an added layer of security.
Risk-Free Trades in Binarium
Risk-free trades are a valuable offering that many traders appreciate, as they provide an opportunity to engage in trading without the fear of incurring losses.
Let’s explore how risk-free trades work and how they can benefit you while trading in Binarium
How Risk-Free Trades Work
Risk-free trades are essentially a form of insurance for your initial trades. Here’s how they typically work:
- Promotional Offer: Brokers like Binarium may offer risk-free trades as part of promotions or bonuses, especially to new traders.
These trades allow you to place a trade without the risk of losing your investment.
- Loss Coverage: If your risk-free trade ends up in a loss, the broker will reimburse you with either the full investment amount or a predefined percentage of it.
This means that if your trade doesn’t go as planned, you won’t suffer any financial setbacks.
Benefits of Risk-Free Trades
- Learning Opportunity: Risk-free trades provide an excellent chance for novice traders to dip their toes into the trading world without worrying about losing money.
It’s a practical way to practice trading strategies and get familiar with the platform.
- Confidence Building: Knowing that you have risk-free trades at your disposal can boost your confidence as a trader.
You can experiment with different strategies and approaches without the fear of losing your investment.
- Exploring New Markets: Risk-free trades can encourage you to explore new trading markets and assets that you might have been hesitant to try otherwise.
- Minimized Losses: Even for experienced traders, risk-free trades can act as a safety net.
If a trade doesn’t go your way, you won’t suffer a financial setback.
Are there risk-free trades in Binarium?
Yes and no.
Yes because another word for risk free trades as used in BInarium is Tradeback and no because while the definition of risk free trades point to trader getting back all their investment in lost trade, tracebacks only guarantee a portion back. And in Binarium you only get up to 50% back.
Binarium 100% Deposit Bonus
Binarium also provides a 100% first deposit bonus that empowers traders to magnify their trading potential.
Here’s how the 100% deposit bonus works:
- Promo Code – FIRSTDEP: To take advantage of the 100% deposit bonus, use the promo code “FIRSTDEP” during the deposit process. This code unlocks the bonus, ensuring that your deposit is matched by 100%.
- Deposit Range: The bonus applies to deposits ranging from $30 to $2,000. This means that deposits within this range will be doubled.
- Single Use: The promo code “FIRSTDEP” can only be used once. It’s important to make the most of this bonus opportunity on your initial deposit.
- Doubling Your Deposit: When you deposit funds within the specified range and apply the promo code, the deposited amount will be matched by 100%, effectively doubling your trading capital.
Binarium Mobile Apps
Binarium recognizes the importance of seamless accessibility for traders, and their mobile apps are designed to bring the world of binary options trading directly to your fingertips.
Here’s how Binarium’s mobile apps can enhance your trading experience:
a). Mobile Trading Convenience
- Trade Anytime, Anywhere: Binarium’s mobile apps allow you to trade on the go, enabling you to access the markets from wherever you are. Whether you’re commuting, traveling, or simply away from your computer, the mobile app ensures you don’t miss out on trading opportunities.
- Real-Time Market Updates: Stay informed about market developments with real-time price updates and market news.
- Intuitive Navigation: Binarium’s mobile apps are designed with user-friendliness in mind. The intuitive interface makes it easy to navigate through various features, execute trades, and manage your account effortlessly.
- Trade Execution: Execute trades swiftly with just a few taps. Whether you’re opening, modifying, or closing positions, the mobile app streamlines the trading process.
Features and Tools
- Charting Tools: Access advanced charting tools directly on your mobile device. Analyze price patterns, indicators, and trends to make informed trading decisions.
- Account Management: Manage your account efficiently through the mobile app. Check your balance, review your transaction history, and manage your account settings seamlessly.
Download Binarium and Get Started
To begin trading on Binarium’s mobile apps, follow these steps:
- Download: Search for “Binarium” on your device’s app store (available for both iOS and Android).
- Install: Download and install the app on your device.
- Login: Use your existing Binarium account credentials to log in to the app. If you’re new to Binarium, you can create an account directly through the app.
Tournaments are trading competitions. At Binarium, trading tournaments are advertised frequently.
Whether you’re a novice or a seasoned trader, these tournaments provide you with an opportunity to showcase your skills, compete with peers, and reap rewarding prizes.
Here are some of the advantages of competing in Binarium tournaments.
- Level-Based Competition: Binarium Tournaments are structured to match traders of similar experience levels. This ensures a fair and engaging competition where everyone stands a chance to shine.
- Weekly Valuable Gifts: As you participate in the trading competitions, you have the chance to win valuable gifts on a weekly basis. These rewards add an extra layer of motivation to your trading journey.
- Claim the Super Prize: Beyond the weekly rewards, the ultimate achievement awaits the trader who rises above the rest. Claim the title of the best Binarium trader and secure the coveted super prize.
How to Participate
Participating in Binarium Tournaments is a straightforward process:
- Opt-In: Look for ongoing tournaments on the Binarium platform. Opt into the competition that aligns with your trading level by clicking on the “Take part” button in the tournament of your choice.
- Trade with Strategy: Engage in trading with your best strategies during the tournament period. Every trade you make could bring you closer to victory.
- Accumulate Points: Tournament rankings are often determined by points earned through successful trades. The higher your trading performance, the better your chances of climbing the leaderboard.
- Claim Your Rewards: At the end of each week, the winners of the tournament are announced, and valuable gifts are issued to the top performers.
Binarium and Regulation: Is Binarium Regulated?
It’s important to note that as of now, Binarium operates without regulation.
This means that the platform doesn’t fall under the oversight and supervision of a regulatory authority.
While regulation can offer a layer of security and accountability, it’s essential to assess the platform’s features, reputation, and customer feedback before making trading decisions.
Caution to take if you still want to trade with Binarium
Binarium’s operation without regulation might have certain implications for traders:
- Risk Consideration: Trading on a platform that isn’t regulated can carry inherent risks. As a trader risking on this platform, you might not have the same level of protection or recourse in case of disputes.
- Due Diligence: You should conduct thorough research and due diligence before engaging with any platform that operates without regulation. This includes reading user reviews, examining the platform’s terms and conditions, and understanding its offerings. This will go a long way in cases of disputes.
If you are still interested in trading with the platform even after learning that it is not regulated, I recommend that you read the fine print to learn more.
User Reviews. What are other traders saying about Binarium? Is Binarium a scam or a legit broker?
In evaluating whether Binarium is a scam or a legitimate broker, we took into account the various features of the platform and some of the reviews that have been posted online.
What we dug?
Binarium presents itself as a platform that offers binary options trading services with a range of account types, trading tools, and promotional offers. True!
The account types cater to traders of different levels, allowing them to access various benefits, from risk-free trades to substantial deposit bonuses. True!
Additionally, the availability of mobile apps and trading tournaments reflects efforts to enhance the trading experience and engage traders in a competitive environment. True!
However, the reviews shared online by users paint a mixed picture of their experiences with Binarium.
Some reviewers express satisfaction with their trading experience, highlighting features such as dedicated account managers, helpful customer support, and the potential for profit generation.
On the other hand, a significant number of reviewers raise concerns about issues related to withdrawal processes, account freezing, and perceived difficulties in accessing their funds.
Some reviewers have even gone so far as to label Binarium as a scam, expressing frustration over the inability to withdraw profits and the perceived lack of responsiveness from the platform’s support team.
Considering both positive and negative reviews, it’s evident that Binarium has garnered both praise and criticism from its users.
While some traders have reported successful trading experiences, others have voiced concerns that warrant serious consideration. The absence of regulation further adds complexity to the evaluation.
In conclusion, the question of whether Binarium is a scam or a legitimate broker remains ambiguous based on the diverse range of user experiences and opinions.
As with any trading platform, it’s imperative for potential users to conduct thorough research, exercise caution, and carefully weigh the benefits and risks before engaging with Binarium.
Due diligence and an informed approach are paramount if you don’t want to be the next person posting another negative review about Binarium. Haha