- Binarium brokers. The truthful review
- About Binarium
- Different accounts
- Registered or not?
- Unclear rules and regulations
- What traders are saying about them
- Regulators warning
Before you can start trading, you need to find a forex broker that you can work with. On the internet, there are a large number of brokers that you can make use of. The problem is that some of them are more reliable than other brokers. There are even brokers that are not hiding the fact that they are illegal and scams. And, still, people are using them.
What about Binarium brokers? Are they legit or are they just another scam that you should stay away from? This is a truthful review about Binarium to ensure that you are going to know if they can be trusted or not.
Binarium was opened in 2012, and they have two countries where they are doing business from. The one country is Cyprus and the other country where they are situated is in St. Vincent and The Grenadines. This might be confusing to know that they have offices in both countries, but their address and contact details are correct.
They are transparent when it comes to their address and the information about their company. However, there are some other things about them that aren’t so transparent, and this is why should make double sure about all the facts before you are making use of them.
This is a great thing about Binarium. They are offering four different accounts for trading. The first one is ideal for beginners that don’t want to lose a lot of money in the beginning. The fourth account is ideally for experts that are experienced in trading.
They are offering bonuses and a demo account where you can learn to trade. The minimum amount that you can trade for is really low, so no big losses in the beginning. This all might sound great, but because of a couple of hidden information and facts about Binarium, this is hard to know if they are legit or not.
This is where the confusion comes in. Some review sites are claiming that they are registered. However, other sites are claiming that they aren’t internationally registered and that you can’t trade in India and the US. Making this a bit troubling.
The one thing that we do know is that they aren’t regulated. This you can see with the terms and conditions that they are working under. And, there is confusion when it comes to the different reviews that they are getting. But the facts are that they aren’t regulated, so the chance that they are registered is slim. And, this is something to consider before you start using them.
They have their rules and regulations on their website that you need to read before you can sign up with them. However, if you are reading their rules and regulations you will see that there are differences between their rules and the rules of other, known and trusted forex brokers.
There isn’t clear information about the fees that they are asking for you to be able to trade there. There isn’t really complete guidance about the withdrawal process and the minimum amount that you can withdraw from them. And, this is things that you should make sure about before you decide to work with them.
This is the one thing that you can trust. Honest reviews and comments from traders that have used Binarium for trading. Most of them are complaining about withdrawing fund and the fees that are being taken without any explanation.
Some are also complaining about customer service and the fact that they can cancel any account, at any given time. The result is that there might be other brokers that are more reliable and trustworthy than Binarium.
Yes, there are regulators warnings about Binarium. This is sole because of Binarium isn’t regulated and the fact that there is confusion about their registration. Regulators are saying that it might be best to use other forex brokers that are more transparent and that are offering all the necessary information before you start trading.
The thing that you need to know is that if forex brokers aren’t regulated, they don’t have rules to obey. They can do just about anything they please and will get away with it. So, this is why unregulated brokers aren’t recommended by regulators.
There are no specific reasons why you should not make use of Binarium. However, there are a couple of things that are uncertain and unexplained. And, then there is the fact that they aren’t regulated as well. All these things are showing that Binarium might not be as honest and trustworthy as what many traders might think. And, it is really recommended that you should rather use another forex broker that is registered for sure, and that is regulated as well. Making sure that you are not going to be scammed out of your money.