Overview of Binarium
Binarium is a financial services company established in 2015 and based in Saint Vincent and the Grenadines. Although unregulated, it offers a range of trading products including forex pairs and cryptocurrencies like BTC and LTC.
Binarium attracts traders of all levels with its various account types—Start, Standard, Business, Premium, and VIP—and supports trading across major global sessions: Asia, Europe, America, and Oceania.
The platform provides a trading room environment and includes features such as a demo account with USD 10,000 for practice, comprehensive customer support via phone, email, and live chat, and a variety of deposit and withdrawal options including major credit/debit cards and cryptocurrencies.
Additionally, Binarium emphasizes education and resources for traders by offering tools like an economic calendar, FAQs, and educational videos.
Is Korata Limited Legit or a Scam？
Binarium operates as an unregulated financial services provider. This means it does not hold a license from any financial regulatory authority to oversee its operations or ensure compliance with specific financial standards and protections that regulated entities are typically subject to.
Trading with unregulated brokers carries certain risks, including the lack of oversight in financial practices and the absence of regulatory safeguards for traders' funds and interests.
Pros and Cons
Pros:
Quick Withdrawal Processing: Binarium processes withdrawal requests within 1 hour during office hours, ensuring traders have swift access to their funds.
Rapid Customer Support: The platform boasts an exceptionally quick average response time of less than one minute, providing almost instant support to resolve any issues or questions traders will have.
Continuous Trading Opportunity: Traders have the advantage of accessing a wide selection of highly profitable assets for trading 24/7, allowing for flexibility in trading schedules and strategies.
Tradeback Feature: Binarium offers a unique benefit where traders can receive up to 15% back from their losing trades in real money, providing a cushion against trading losses.
Highly Responsive Support: The platform's commitment to lightning-fast support ensures that traders can get help with any question online swiftly, enhancing the overall trading experience.
Cons:
Unregulated: The lack of regulatory oversight will pose risks to traders, as regulatory bodies play a crucial role in ensuring transparency, fairness, and security in trading practices.
Limited Deposit and Withdrawal methods: Binarium accepts major credit/debit cards and cryptocurrencies for transactions, which are limited for a big exchange.
Restricted Geographic Availability: Given its registration in Saint Vincent and the Grenadines, the services of Binarium will not be available or suitable for traders in jurisdictions with strict financial regulations.
Potential for Limited Advanced Features: While suitable for beginners and intermediate traders, the platform may lack certain advanced features and tools sought by more experienced traders.
Risk of Unpredictability: Being unregulated, there could be concerns regarding the predictability and stability of the trading environment, which will affect dispute resolutions and fund security.
Products
Forex:
The platform provides an extensive selection of forex trading options, covering major, minor, and exotic currency pairs. These include:
Major Pairs: Such as EUR/USD (Euro/US Dollar), GBP/USD (British Pound/US Dollar), and USD/CHF (US Dollar/Swiss Franc), which involve major world currencies and are known for their liquidity and lower spreads.
Minor Pairs: Including EUR/GBP (Euro/British Pound), NZD/USD (New Zealand Dollar/US Dollar), and AUD/JPY (Australian Dollar/Japanese Yen), which do not include the US Dollar but involve other significant currencies.
Exotic Pairs: Like GBP/RUB (British Pound/Russian Ruble), EUR/RUB (Euro/Russian Ruble), and AUD/NZD (Australian Dollar/New Zealand Dollar), which pair a major currency with a currency from a smaller or emerging economy, typically featuring higher volatility and spreads.
Cryptocurrencies:
The platform also offers trading in popular cryptocurrencies, providing direct quotations with major fiat currencies. These include:
BTC/EUR: Trading Bitcoin against the Euro, offering opportunities to engage with the volatility and growth potential of the leading cryptocurrency in relation to the Eurozone's currency.
BTC/USD: Bitcoin trading against the US Dollar, providing a classic crypto-to-fiat trading pair that is widely popular among traders for its liquidity and market depth.
BTC/GBP: Bitcoin paired with the British Pound, allowing for crypto trading activities tied to the value of the Pound Sterling.
Account Types
Binarium provides 5 account types for users.
Start Account
The Start Account is designed for newcomers with a deposit range of $0 to $100. It offers access to 63 trading assets but does not include a tradeback option. Withdrawals are capped at $50 per day and $100 per week, with a maximum request limit of $25.
The processing time for withdrawal requests can take up to 5 business days. Traders can have up to $100 in simultaneously open trades, making it a suitable option for individuals looking to explore trading with minimal financial commitment.
Standard Account
The Standard Account caters to more experienced traders, with a deposit range of $100 to $500. It features a 5% bonus tradeback and provides access to 72 trading assets. The withdrawal limits are set at $200 per day and $500 per week, with a per-request limit of $50.
Withdrawal requests are processed within up to 3 business days. This account allows for up to $250 in simultaneously open trades, offering a balanced mix of options for traders looking to step up their trading activities.
Business Account
Designed for serious traders, the Business Account requires a deposit between $500 and $2,000. It rewards traders with a 10% bonus tradeback and grants access to 88 trading assets. Withdrawal limits increase to $500 per day and $2,000 per week, with a request limit of $100.
Withdrawals are processed more swiftly, within up to 2 business days, and traders gain access to a Business Trading Room. This account permits up to $1,000 in simultaneously open trades, providing a robust platform for more aggressive trading strategies.
Premium Account
The Premium Account is tailored for high-level traders, with a required deposit of $2,000 to $5,000. It offers a generous 12.5% bonus tradeback and unlocks 108 trading assets. Daily and weekly withdrawal limits are set at $1,500 and $4,000, respectively, with a higher request limit of $250.
Withdrawals are expedited, processed within 1 business day. Premium account holders also have access to a Business Trading Room and can maintain up to $2,500 in open trades simultaneously, delivering an enhanced trading experience with premium benefits.
VIP Account
The VIP Account offers the best conditions for elite traders, with a minimum deposit requirement of $5,000. It stands out with a 15% real funds tradeback and the highest number of trading assets at 116. The withdrawal policy is exceptionally flexible, allowing for up to $15,000 per day and $100,000 per week, with no limit on the request amount. Withdrawals are processed within 1 business day.
VIP traders have exclusive access to both Business and VIP Trading Rooms and face no restrictions on the amount of simultaneously open trades, providing the ultimate trading environment with maximum flexibility and benefits.
How to Open an Account？
Opening an account and securing a welcome bonus involves a simple three-step process:
Registration: Begin by registering on the platform, a quick process that requires less than 15 seconds to complete. This step involves providing basic personal information to set up your account.
Making a Deposit: After registering, proceed to fund your account with an initial deposit. The minimum amount required to qualify for the welcome bonus is USD 50. This deposit can be made through various payment methods available on the platform.
Receiving the Bonus: Upon completing the deposit, you become eligible for the welcome bonus. The platform offers a 100% bonus on your first deposit, which is credited to your account, doubling your initial investment and providing additional funds for trading.
Strategies
The platform offers a structured approach to trading with a variety of strategies categorized into three levels: simple, basic, and advanced. Each level caters to traders with different levels of experience and expertise.
Simple Strategies:
Trend Reversal Trading: This strategy focuses on identifying trend reversals without the use of indicators, relying solely on candlestick chart analysis to open transactions at optimal times.
Absorption Strategy: It involves recognizing a specific pattern of candles where each subsequent candle is larger from its low to its high compared to the preceding one, emphasizing the importance of timing and candlestick chart analysis.
Gap Trading: This strategy takes advantage of price gaps that occur due to significant volume changes, particularly over weekends, offering opportunities for profit on the following Monday.
Basic Strategies:
Pinocchio Strategy: Named after the appearance of pin bar candles, this strategy predicts trend changes based on the length of the candle's wick, akin to Pinocchio's nose, indicating potential reversals.
Three Candles Strategy: A pattern-based system that looks for specific fluctuations appearing together on a chart, providing a basis for effective price change predictions.
Domino Strategy: Best suited for non-volatile markets, this straightforward approach doesn't require in-depth market knowledge, focusing on following a clear system.
Advanced Strategies:
Trading Within Price Channel: This strategy excels in low volatility, night-time markets by trading within a horizontal price channel, allowing for numerous profitable transactions in a short span.
Trading Bitcoin: With the high level of speculation in cryptocurrency, Bitcoin trading has become a significant market phenomenon, attracting various traders.
Parabolic SAR Trading: Utilizing the parabolic SAR indicator, this strategy helps in identifying trend reversals, making it a powerful tool for profit-making decisions.
Trading Platform
The trading platform features a specialized Trading Room, designed as a tool to facilitate confident and simplified trading experiences. This exclusive space is accessible to customers who meet certain criteria, providing them with valuable trading signals directly from the platform's leading traders.
The aim of the Trading Room is to enhance the trading efficiency and profitability of its users by offering expert insights and real-time advice, thereby enabling them to make more informed decisions and potentially increase their earnings through the platform.
Trading Sessions
The trading sessions on the platform are organized according to major financial centers across the globe, catering to various time zones and providing traders with opportunities to engage in the markets almost around the clock. Each session reflects the operational hours of the financial markets in its respective region:
Asia:
Tokyo, Hong Kong, Singapore: The Asian trading session begins at 08:00 GMT+08:00 for Tokyo and 09:00 GMT+08:00 for both Hong Kong and Singapore. It concludes between 16:00 and 18:00 GMT+08:00, making it the first major market to open and setting the tone for the trading day.
Europe:
Frankfurt, London: The European session starts at 14:00 GMT+08:00 for Frankfurt and 15:00 GMT+08:00 for London, closing between 22:00 and 00:00 GMT+08:00. This session is known for its high volatility and liquidity due to the overlap with the latter part of the Asian session and the opening of the American markets.
America:
New York, Chicago: The American trading session kicks off at 21:00 GMT+08:00 for New York and 22:00 GMT+08:00 for Chicago, ending between 04:00 and 06:00 GMT+08:00. This session is characterized by significant movements, particularly in the forex market, due to major economic releases and the overlap with the European session.
Oceania:
Wellington, Sydney: The Oceania session starts at 05:00 GMT+08:00 for Wellington and 06:00 GMT+08:00 for Sydney, closing between 13:00 and 15:00 GMT+08:00. Although smaller in volume compared to the other sessions, it's crucial for traders in the Pacific region and those trading AUD and NZD pairs.
Demo Account
The platform offers a Demo Account feature, which is equipped with USD 10,000 in virtual funds. This tool is designed for traders to practice and refine their trading strategies without any financial risk.
It allows full access to all the available features of the platform, mirroring real trading conditions but using virtual money. This setup is ideal for both beginners who are learning the ropes of trading and experienced traders looking to test new strategies in a risk-free environment.
Signing up for the Demo Account is a straightforward process, enabling users to immediately start practicing and gaining confidence before transitioning to live trading.
Deposit & Withdrawal
The platform offers a versatile and user-friendly approach to managing finances, accommodating a wide array of payment methods for deposits and withdrawals.
Clients can conveniently transact using traditional banking options, e-wallets, and an assortment of cryptocurrencies, ensuring flexibility and ease of use for traders globally. The accepted payment systems include major credit and debit cards like Visa and Mastercard, popular e-wallet services, and leading cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Ripple, and Tether.
The minimum deposit requirement varies by account type, starting from as low as $0 to $100 for the Start Account, making it accessible for individuals at different financial capacities to begin trading.
This inclusive financial structure, combined with the diverse range of payment options, underscores the platform's commitment to providing a seamless and accommodating trading experience for its users.
Customer Support
The platform offers dedicated customer support to assist clients with their queries and concerns. For more information or support, clients can reach out via email at support@binarium.com.
Additionally, there are two phone numbers available for direct contact: +357(22)052784 and +44(203)6957705. This ensures that clients have multiple channels for communication, catering to their preference for either electronic or telephonic support.
The customer support team is based at the platform's headquarters, located at Suite 305, Griffin Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines, providing a central point for all client service operations.
Educational Tools
Binarium provides its traders with essential educational tools to enhance their trading experience, including an Economic Calendar and Educational Videos. The Economic Calendar is a crucial resource for traders, offering real-time updates on global economic events that can impact market movements.
This tool helps traders stay informed about important announcements and data releases, allowing them to make more strategic trading decisions based on upcoming economic indicators.
Additionally, Binarium's Educational Videos serve as an interactive learning platform, covering a wide range of topics from basic trading concepts to more advanced strategies and market analysis techniques. T
hese videos are designed to meet both novice and experienced traders, providing valuable insights and tips to improve trading skills and knowledge. Together, these educational resources equip Binarium traders with the information and skills needed to navigate the markets more effectively.
Conclusion
Binarium stands out as a versatile trading platform that caters to a diverse clientele, from beginners to seasoned traders, through its comprehensive suite of services and educational resources.
With features like a Demo Account loaded with USD 10,000 for risk-free practice, a variety of account types tailored to different trading needs, and a wide range of payment options including cryptocurrencies, Binarium offers a well-rounded trading experience.
The inclusion of essential tools such as an Economic Calendar and Educational Videos further empowers users by enhancing their market understanding and trading skills. Despite the lack of regulatory oversight,
Binarium's commitment to providing valuable trading insights, flexible financial transactions, and robust customer support establishes it as a noteworthy platform in the trading community.
FAQs
Q: What is the minimum deposit required to start trading on Binarium？
A: The minimum deposit required varies by account type, starting from $0 to $100 for the Start Account, making it accessible for traders with varying financial capacities.
Q: Can I practice trading on Binarium without risking real money？
A: Yes, Binarium offers a Demo Account with USD 10,000 in virtual funds, allowing you to practice trading and test strategies without any financial risk.
Q: What types of assets can I trade in Binarium？
A: Binarium provides a wide range of trading options, including forex pairs, cryptocurrencies like Bitcoin, Litecoin, and Ethereum, among others.
Q: How can I withdraw my funds from Binarium, and what are the limits？
A: Withdrawals can be made through various payment methods including bank cards, e-wallets, and cryptocurrencies. The withdrawal limits and processing times vary depending on the account type.
Q: What educational resources does Binarium offer to help improve my trading skills？
A: Binarium provides an Economic Calendar, Educational Videos, and detailed strategies to help traders understand market movements and develop their trading skills.
Q: How can I access customer support if I have questions or need assistance？
A: Customer support can be reached via email at support@binarium.com or through the provided phone numbers. Support is available to assist with any queries or issues you may encounter.
2024-02-01 10:03
2023-03-22 12:15
