Binarium is an established BO broker who primarily caters to Russian traders. They are headquartered in St. Vincent and Grenadines and is not regulated by any financial authority. Their system offers a website in four languages and is not open to traders in the United States; residents of Israel and Ukraine are also not accepted. Right now their platform is strictly web-based. Binarium uses the SpotOption trading platform which is becoming one of the most popular choices by binary options brokers. They have over 80 assets that a user can choose to trade and offer a variety of educational resources that can be useful for beginners.
Getting Started
Binarium makes it very easy to create an account and start trading right away. To create an account, simply fill out their registration form. Only your name and email are initially required to open an account. After verifying your account with your email, you can then deposit money into your account and start trading. One big advantage is that there is a completely unrestricted demo account that is currently offered to new traders. This is a great tool for those who just want to test out the platform and see if it is a right fit for them. Moreover, the minimum deposit to start trading is only ten dollars so you could test out the system without investing much at first. Let’s next look at the various account types to help you consider which might be the best match for you.
Account Types
There are four main account types that a person can choose when getting started with this binary options broker. The first account that they offer is labeled their “basic” account. This requires a minimum of ten dollars to open but the resources you get with this account are very limited. It is important to mention that withdrawals using this account type can take up to five working days. The next account type is their “premium” account. This is marked as their most popular choice. With this option, a trader can withdraw money from their account within three days, get a personal trader, have personal trading signals, and have the ability to copy trade during the first week. The premium account costs $500 to open. The next type is their “business” account. This requires at least a $2,000 deposit. This account includes all of the features of the “premium” account along with the development of a personal trading strategy and more in-depth market analysis. Withdrawal time with this account is within one working day. Lastly, their highest account is the “VIP”. A user can attain this account with a deposit of $10,000 or more. With this, you get the great features of all the accounts combined and have access to instant withdrawals.
Depositing and Withdrawing
Like most binary option brokers, depositing money with this service is made very easy to do. Traders can add money to their account using credit or debit cards such as Visa and MasterCard. There is also the ability to deposit through online applications such as QIWI, Yandex.Money, WebMoney, Neteller, Chinese UnionPay, Mobile Commerce, and Bitcoin. The minimum deposit amount is only $10 dollars. Once a person deposits money into their account, the funds are made available to trade from instantly.
To withdrawal money, a trader needs to submit a request for withdrawal of funds. Once this is done, you must wait for Binarium to confirm the request. As mentioned earlier, depending on what account type you have this process varies anywhere between one and five days. However, once the request is confirmed, the withdrawals will be processed right away. The minimum that can be taken out is five dollars. There is no fee to withdraw money and can be done in any of the same methods that are used to deposit funds. The only options available for withdrawal are a credit/debit card, Qiwi, Yandex.Money, and WebMoney.
Trading Platform
The service uses the SpotOption trading platform, which is kind of a standard platform for binary option brokers. The platform’s interface itself is simple and easy-to-use. Both candlestick and line charts are available to view, the underlying asset’s price is clearly shown, and the expiration times are displayed. The major downside to this platform is because so many brokers use it, there is really no unique features to it. If you are looking for a feature-rich platform, this is not for you. But overall, the platform performs as you would expect and has the basic functionality of a typical binary options broker service.
Educational Resources
There is a decent amount of educational resources that are offered through Binarium’s website. They have a free “lessons” page that offers information on the different types of options and ways to trade them. There are also video lessons that explain some basic trading strategies can be used and help explain how to read the markets. Along with this, there is an updated economic calendar, a list of assets currently available to trade on the platform, and live market news. This information could be helpful for both beginner traders as well as more advanced traders. Furthermore, there are tutorials on how to use the trading platform itself and gives very useful information to start trading right away.
Conclusion
Overall, Binarium has all the features and resources that are becoming standard for binary options brokers. They use a trading platform that is easy to understand and registering with them is a straightforward process. It offer many ways to deposit and withdraw from accounts and do not charge any fees to do so. It also offer many different account types to match many different kinds of traders. Even more, they have educational resources that may be useful to many people. The largest advantage of this broker is that they offer a free demo account. An important downside to them is that they are not available to traders within the United States, Ukraine, and Israel. However, they are still a broker that should be considered, especially for people in Russia.
