Binomo leaves the Russian market

binomo 300x193 - Binomo leaves the Russian market

Binomo left the Russian market on 1 August 2019. After this date, it became impossible for Russian citizens to register on the official website of the broker. The company announced that such changes would take place in advance. The broker’s clients were acquainted with this information. Traders from the Russian Federation, who managed to register on the official website of the brokerage firm, will not notice any changes in the work. Below you will find out why such a situation has developed.

Useful information for clients of Binomo broker

The situation with this brokerage company caused a lot of disputes and questions. Users working with this broker are interested in the following information:

  1. Will the withdrawal of funds be available after the introduction of restrictions for Russian citizens?
  2. Why did the company impose restrictions?
  3. What to expect in the future?

The broker’s technical support provided answers to all these questions. Anyone can ask them on the official website of the company. It is especially interesting for the current clients of the company.

Binomo does not leave the Russian financial market completely. Thus, registration of new clients on an official site is impossible. Users who opened an account before the first of August, can continue to trade binary options. Account replenishment, withdrawal of funds, and other services are still available to current clients of the firm.

The administration of the company has no intention to change the agreement with clients. This information is published on the official website. This broker continues to serve old clients in a standard format.

The ban on registration of new users is connected with the probability of adoption of one important law in the State Duma. It imposes certain obligations on the brokers focused on work with binary options, and trade in the international currency market. Companies will begin to undergo certification of the software used for trading.

This legislative initiative has significantly influenced the activity of Olymp Trade broker. This company is focused on binary options. Its representatives said directly that the company’s platform does not comply with the restrictions imposed by the Russian laws. This led to a ban on registration of clients from Russia. Then three months later the company stopped its activity in principle.

The broker warned all his traders about it. Information about the termination of work was available in the personal user accounts on the official website of the organization. At the same time, the network began to spread feedback that the company is a “kitchen” engaged in divorce. Many people began to say that the company was a scam, a scam, and the whole Olymp Trade project – Scam. For the sake of fairness, we would like to note that a significant part of traders managed to withdraw their funds.

At the moment, amendments to the law “On Changes to the Federal Law on the Securities Market and other laws of the Russian Federation” have been adopted in the first reading. There is a probability that voting in the second and third reading will also be successfully completed. Traders trading binary options should analyze possible consequences.

The legislative initiative should make changes to the current situation on the Russian market. The government wants to make binary options trading more honest and safe for traders. The essence of the law is to fight against various “kitchens” and kids.

Fraudsters form schemes that target traders. They tend to deprive users of their investment. Divorce of trusting beginners is a profitable business. At the same time, the law under consideration is a problem for all brokers operating in Russia and offering binary options trading services.

It is necessary to understand the peculiarities of this type of trading. Binary options are technically a betting contract between a trader and a broker. The object of the contract is the probable value of goods or a derivative financial asset. These can be futures, currency pairs or CFD-contracts. Binary options are legalized in only one region – Illinois. In all other states of America and other countries, this type of activity is equal to betting business.

The innovations adopted by the Parliament of the Russian Federation will not particularly affect the traditional Forex brokers, which are not associated with binary options. Nowadays, trading on the over-the-counter market is a business that many reputable financial institutions are engaged in. For example, banks. Their activities are carefully controlled by the state regulator. Thus, the clients of these institutions are 100% protected from non-trade risks.

Binary Options: What to expect in the near future?

Probable jumps in currency pairs and derivative assets cannot be the object of a transaction between a user and a broker. The changes also significantly limit the possibility of trading binary options “Turbo”. The Russian financial regulator requires that the minimum period of expiry of the transaction is not less than 24 hours.

These changes in legislation have affected not only Binomo, but also all other companies working with binary options. Perhaps such a business will be prohibited by law at all. Such a prospect is quite real. Note that online casinos are also banned in Russia, but they are available to everyone. Perhaps binary options are waiting for the same fate.

Is Binomo a divorce or a reliable firm?

Binomo has been providing services to Russian clients for quite a long time. The broker was officially registered in 2014. The company provides binary options trading services for more than 70 financial instruments.

Binomo’s official website is available in Russian. Users from different regions and countries can register on the Binomo website. Having logged in to the personal cabinet, users get access to a lot of training materials and programs. Their application will be useful in terms of obtaining professional knowledge and skills. A personal account is used to login to the application in a demo mode. There you can practice and sharpen your knowledge. Personal cabinet also provides access to loyalty programs and bonuses.

Binomo Broker is a participant of many professional contests. He won the following events: Forex Expo Awards (2015). The firm also holds an IAIR Awards certificate (2016). The documents confirming this are published on the official website of the firm.

Feedback from users suggests that Binomo provides quality and convenient services. The firm provides favorable conditions for working in the financial markets. Reviews also show that the organization solves conflict situations as honestly and absolutely transparently as possible. The size of the minimum deposit at Binomo broker is equal to ten US dollars. Thanks to this, the threshold for entry into trading is available to almost any person. Having opened a minimum deposit, you can deeply immerse yourself in all aspects of real trading, as well as learn the features and functionality of the working platform.

There are a huge number of projects like “Scam” on the market, which call themselves brokers. The main vector of their activity is the divorce of trusting users. Kidals and swindlers attract new clients to their networks. After the transfer of money to the first deposit, they usually disappear, and there is no way to withdraw funds.

Binomo is not a project like “Scam”. This organization is not a fraudster or a scammer, which is full in the financial market of the Russian Federation. The firm is not engaged in divorce of traders. It qualitatively renders its services.

What are the advantages of Binomo?

Binomo has many advantages. The brokerage firm has a convenient and intuitive official website. Their portal has all the necessary information. Reviews about the company indicate that it has the following advantages:

  • Training materials and training programs. On the official site you can learn a lot of useful information. Reviews about the company indicate that their training programs are effective. All you need to do to access them is sign in to your account.
  • Convenient platform. Trading options in Binomo is easy. The firm’s platform allows you to comfortably use financial instruments to make a profit. Log in to the application and start trading. Feedback shows that the platform is 100% reliable. It is characterized by security and user-friendly interface.
  • Minimal deposit. It is enough to start with ten US dollars. By depositing this amount, you get all the functionality of the trading terminal. These funds will be enough to start a successful career in the world of trading.
  • Client-oriented service. Reviews on the work of the company’s technical support indicate that the withdrawal of money is carried out in the shortest possible time. Users can ask for help 24 hours a day to solve any problems they have.

Binomo has perfectly proved itself in the market of brokerage services. The majority of clients highly appreciated the quality of work of this brokerage office. In the currency market there is a sufficient number of serious brokerage companies, to which traders can turn their attention. Taking care of their clients and striving to create the most comfortable conditions for them to trade, they provide books and textbooks, hold free webinars and, moreover, organize a cycle of video lessons, which in itself can be called an unprecedented action. Thus, traders have a lot of opportunities to replenish their knowledge.