101,000 Binomo left the Russian market on August 1, 2019. After this date, registration on the official website of the broker for Russian citizens has become impossible. The company announced in advance that such changes would take place. Broker clients have been entered into this information. Traders from Russia, who managed to register on the official website of the brokerage company, will not notice any changes in the work. Here’s why.
Useful information for binomo broker clients
The situation with this brokerage company has caused a lot of controversy and questions. Users working with this broker are interested in the following information:
Will withdrawals be available after restrictions are placed on Russian citizens? Why did the company impose restrictions? What to expect in the future?
Tech support broker gave answers to all these questions. Anyone can ask them on the official website of the company. This is of particular interest to the company’s current customers.
Binomo does not leave the Russian financial market completely. At the same time, it is not possible to register new customers on the official website. Users who open an account before the first of August can still trade binary options. Top-up, rollback, and other services are still available to the company’s current customers.
The administration of the company has no intention of changing the contract with customers. This information is published on the official website. This broker still supports old clients in the standard format.
Prohibition of registration of new users is associated with the likelihood of one important law in the State Dumie. It imposes certain obligations on binary options brokers and trading on the international foreign exchange market. Companies will start to be certified software that is used for trading.
This legislative initiative has had a significant impact on the activities of the Olymp Trade broker. This company focuses on binary options. Its representatives expressly stated that the company’s platform does not comply with the restrictions imposed by Russian law. This led to a ban on registration of customers from Russia. Then, three months later, the company generally ceased operations.
Broker warned all its traders about it. Work completion information was available in users’ personal offices on the organization’s official website. At the same time, the network began to spread the opinion that this company – “kitchen” engaged in divorce. Many began to say that the company is a putter, a scam, and the whole project Olymp Trade – Scam. Justice for good, keep in mind that a significant proportion of traders have managed to make withdrawals.
At this time, amendments to the Law “On changes in the FK on the securities market and other regulations of the Russian Federation” were adopted at first reading. It is possible that the vote at second and third reading will also succeed. Binary options traders should consider the possible consequences. The legislative initiative should make changes to the current situation on the Russian market. The state wants to make binary options trading more honest and safe for traders. The essence of the law is the fight against various “kitchens” and throws.
Scammers create schemes that are aimed at traders. They want to deprive users of their invested funds. Divorce of naïvy newcomers – profitable business. At the same time, the law under consideration is a problem for all brokers operating in the Russian Federation and offering binary options trading services.
You need to understand the characteristics of this type of trading. Binary options are technically a bet type agreement that a trader and broker enter into. The subject matter of the contract is the probable value of the commodity or derivative financial asset. These can be futures, foreign exchange contracts or CFDs. Binary options are legalized in only one Illinois. In all other states of America and other countries, this type of activity is equated with the activities of bookmakers.
The innovations adopted by the Russian Parliament will not particularly affect traditional Forex brokers who have nothing to do with binary options. Today, over-the-counter trading is a business in which many reputable financial institutions are involved. For example, banks. Their activities are closely monitored by the state regulator. As a result, the clients of these companies are 100% protected against non-commercial risks.
Binary Options: What to expect in the near future Future?
Likely spikes in the exchange rates of pairs and derivatives cannot be traded between you and the broker. The changes also significantly limit the ability to trade Turbo binary options. The Russian financial regulator requires that the minimum expiry period of the transaction be at least one day.
These changes in the law have affected not only Binomo, but all other companies working with binary options. Perhaps such activities will be prohibited by law at all. This perspective is very real. Please note that online casinos are also banned in Russia, but they are available to everyone. Perhaps binary options will face the same fate.
Binomo – Divorce or reliable company?
Binomo has been providing services to Russian customers for a long time. The broker was officially registered in 2014. The company provides binary options trading services for more than 70 financial instruments. The official website of
Binomo is available in Russian. Users from different regions and countries can register on the company’s website. After entering your personal office, users have access to various tutorials and programs. Their application will be useful in terms of professional knowledge and skills. Through the personal office, the work app is logged in demo mode. There you will be able to train and improve your knowledge. The personal office also provides access to loyalty programs and bonuses.
Broker Binomo is a participant in many professional competitions. In 2015, he won the Forex Expo Awards. The company also has the IAIR Awards (2016). Documents confirming this are published on the official website of the company.
User reviews suggest that Binomo broker provides quality and convenient service. The company provides favorable conditions for working in the financial markets. Reviews also show that the organization resolves conflict situations as honestly and completely transparently as possible. The minimum deposit for a Binomo broker is ten US dollars. As a result, the threshold for entry into trade is available to almost everyone. By opening a minimum deposit, you can deeply immerse yourself in all aspects of real trading, as well as explore the features and functionality of the work platform.
There are a huge number of scam projects on the market that call themselves brokers. The main vector of their business is the divorce of naïve users. Kids and scammers lure new customers to their networks. After transferring money for the first deposit, they usually disappear and there is no way to make withdrawals.
Binomo is not a Scam project. This organization is not scammers or throws that are full in the financial market of the Russian Federation. The company does not divorce entrepreneurs. It provides its services well.
What are the benefits of Binomo?
Binomo has many advantages. The brokerage company has a convenient and intuitive official website. Their portal has all the information they need. Company reviews indicate that it has the following advantages:
Training materials and training programs. On the official site you will be able to learn a lot of useful information. Reviews of the company show that their training programs are effective. All you need to do is access them by accessing your account. It is not difficult to trade options in Binomo. The company’s platform allows you to conveniently use financial instruments for profit. Log in to the app and start trading. Reviews show 100% platform reliability. It is characterized by safety and convenient interface. Ten U.S. dollars is enough to start. By adding an account for this amount, you get all the features of the trading terminal. These funds are enough to start a successful career in the world of trading. Reviews about the technical support of the company show that the withdrawal of money takes place as soon as possible. Users can seek help 24 hours a day to resolve any issues they have.
Binomo has proven itself in the brokerage market. Most clients praised the quality of this brokerage house. There are a sufficient number of serious brokerage firms on the foreign exchange market to which investors can pay attention. Taking care of their customers and trying to create the most comfortable trading conditions for them, they provide books and manuals, conduct free webinars, and organize a whole cycle of video tutorials which in itself can be called an unprecedented action. In this way, traders have many opportunities to supplement their knowledge.
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Binomo message stops working in Russia: what is the reason? first appeared on The Globe Trader.