Binomo Available and Banned Countries | Where is it Legal?

In this article, we will thoroughly discuss all of Binomo’s supported (available) and unsupported (banned) countries, explain why some of these countries are not supported, explore where Binomo is located and regulated, and whether you can use a VPN to get around these restrictions if you are residing on one of these unsupported countries.

Binomo’s Banned Countries List

The following is the complete list (in alphabetical manner) of countries and territories not supported by Binomo:

• Afghanistan
• Albania
• Andorra
• Australia
• Austria
• Belarus
• Belgium
• Brazil
• Bulgaria
• Canada
• Croatia
• Cuba
• Cyprus
• Czech Republic
• Denmark
• Estonia
• Finland
• France
• Germany
• Greece
• Haiti
• Hong Kong
• Hungary
• Iceland
• Iran
• Iraq
• Ireland
• Israel
• Italy
• Jamaica
• Japan
• Latvia
• Libya
• Liechtenstein
• Lithuania
• Luxembourg
• Mali
• Malta
• Moldova
• Monaco
• Myanmar
• Netherlands
• New Zealand
• Nicaragua
• North Korea
• Norway
• Palestine
• Poland
• Portugal
• Romania
• Russia
• Saint Vincent and the Grenadines
• San Marino
• Senegal
• Singapore
• Slovakia
• Slovenia
• South Sudan
• Spain
• Sweden
• Switzerland
• Syria
• United Arab Emirates
• United Kingdom
• United States of America
• Vatican
• Zimbabwe

Binomo’s Available Countries List:

The following is the complete list (in alphabetical manner) of countries and territories that Binomo currently supports:

Why is Binomo not available in some countries?

According to Binomo, its service is inaccessible in these 67 countries and territories because of their local legislation regarding international brokerage providers like Binomo. These banned countries and territories are outlined in Paragraph 10.2 of the company’s Client Agreement. Binomo is an offshore brokerage and many countries require a local regulation, which is why Binomo can not offer its services there legally.

In which country is Binomo based?

Binomo is operated and owned by Dolphin Corporation, a company based and registered in Saint Vincent and the Grenadines, a small island country in the Caribbean.

Where is Binomo regulated?

Locally, Saint Vincent and the Grenadines has jurisdiction over Binomo. In 2018, it voluntarily joined the International Financial Commission (IFC), an independent and neutral dispute resolution organization specializing in financial markets, to guarantee the quality of service, transparency, and protection for its traders from an independent international organization. 

Since joining almost six years ago, it has been a category “A” member — the highest membership category — which offers compensation for up to $20,000 per complaint. “By joining The [International] Financial Commission, Binomo reaffirms its commitment to maintaining the highest standards of trading honor and best business practices,” the company declared on its website.

Using VPN to get access to Binomo (and should you?)

Suppose your country or territory of residence is on the “Banned” list. In that case, you can technically still register and use the platform by using a VPN set in a supported country to circumvent this restriction. However, just because you can do not mean that you should.

For starters, in Paragraph 10.3 of Binomo’s Client Agreement, the company states, “The Client guarantees they are not a citizen and/or resident of a country in which the Company does not render its services.” Hence, deciding to still sign up violates the broker’s terms of service (TOS). 

In addition, you will also not be able to verify your account since the required documents (such as your identity verification) will be coming from a restricted country. This is crucial since if you fail or do not complete the verification process, you will not be able to withdraw any funds you deposited and any trading gains you made. Lastly, you will also be unable to get full support when you encounter problems and fraudulent activities since you have already violated the broker’s TOS and do not meet the minimum requirement of the broker’s “valid” user. 

Thus, with all these things considered, using a VPN to get access presents an overwhelming number of downsides that overshadow the potential upside of using Binomo. Not to mention the legal repercussions you may face in your own country as a result.

Conclusion

Overall, we can see that Binomo supports trading in most countries and territories worldwide. However, due to some of the restricted countries and territories’ local legislation, Binomo cannot provide services to these 67 locations. Nevertheless, in countries where Binomo provides its services — it demonstrates its commitment to quality service, transparency, and safeguarding its users’ assets by being a category “A” member of the International Financial Commission.

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