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We cannot ignore the need for a reliable trading partner when trading binary options. It is a tricky game that causes the new traders to lose more money than they presume. The main reason for such a mishap is primarily overconfidence and inconsistency.
But, with a reliable binary trading platform like Binomo, you can reduce the risks effectively. Despite the useful benefits a broker like Binomo provides to its customers, it is available in certain countries and prohibited in others. So, let us go deeper and find the reasons.
We stop promoting and recommending Binomo anymore after banning our partner’s account for no reason. Choose a better alternative like Quotex or Pocket Option to trade!
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100+ Markets
- Accepts international clients
- High payouts 95%+
- Professional platform
- Fast deposits
- Social Trading
- Free bonuses
from $50
(Risk warning: Trading is risky)
100+ Markets
- Min. deposit $10
- $10,000 demo
- Professional platform
- High profit up to 95%
- Fast withdrawals
- Signals
from $10
(Risk warning: Trading is risky)
What you will read in this Post
Countries where Binomo is available:
Binomo is an established binary trading platform. However, binary options trading is a trading format that often gets into a dispute due to its availability and unavailability. However, some countries do not ignore the benefits of both binary options and a broker like Binomo for its citizens. Therefore, in such countries, Binomo is available without any issues.
First, let us look at those countries where Binomo is available as a binary options service provider. After that, we can move further.
Asian countries available:
Other countries
Therefore, if you are a trader who resides in any of these countries, you can use the services of Binomo and binary options without any legal issues. Most of the countries in South America, Africa and Asia are available
(Risk warning: Your capital can be at risk)
Binomo unavailable countries (banned countries):
European countries banned (all EEA countries are banned):
- Switzerland
- Belgium
- Czech Republic
- Germany
- France
- Netherlands
- Portugal
- Greece
- Italy
- Spain
- Sweden
- Iceland
- Monaco
- San Marino
- Cyprus
- United Kingdom
- and some more
Asian countries banned:
- Japan
- Russia
- Iran
- Pakistan
- Palestine
- North Korea
- Hong Kong
- Indonesia
Middle eastern countries banned:
- Syria
- Turkey
- Libya
- Palestine
- Afghanistan
Other countries banned:
- Australia
- Canada
- USA
- Saint Vincent and the Grenadines
- Moldavia
- South Sudan
- Albania
- Haiti
- Jamaica
- Mali
- Myanmar
- Nicaragua
- Senegal
- Zimbabwe
- Cuba
- Israel
- Singapore
Why is Binomo unavailable in some countries?
Different countries view trading and binary options differently. As a result, their financial norms significantly differ from one another. So, trading activity may be legal in one country and, at the same time, illegal in another.
As a result, the availability of binary options and their providers both decreased.
Brokers like Binomo are also unavailable in such countries that do not permit the trade in binary options.
We must wonder what exactly is the reason behind such a prohibition. Right?
One of the primary reasons for a country to restrict a binary options trade is simply its similarity to gambling.
An experienced trader can surely understand that such a reason is totally vague. But many countries take it very seriously. They claim that their economy suffers as a result of increased binary trading. That is because a lot of new traders enter into financial burdens after trading these options.
We know that it is mainly because of their lack of understanding and inconsistency. But, when this reason combines with the addictive nature of binary trading, many countries do not take a second chance and restrict the use of binary options.
Another goal for making binary options unavailable is to prevent unlicensed brokers from canvassing the clients. That is because the binary options market often has fraudulent brokers and outlets. But because of that, even reliable brokers like Binomo also suffer.
Many binary outlets con the clients by offering them a sure-shot win in their trades. Once the traders invest in them, all of their wealth is gone in one shot.
As such activities increased, various countries started updating their norms and imposed a ban on binary options and their service providers. However, the aim is to prevent fraudulent activities and discourage the gambling nature of binary options.
But, the unavailability of Binomo is a result of that.
For example, the authority named Commodity Futures Trading Commission regulates binary options in the USA. It regulates binary trading as a gambling form due to its similarity; as a result, we can see that Binomo is also unavailable there.
Moreover, the CTFC also prohibits outside brokers from getting a license. Such a restriction reduces even the narrow chance of US traders using the services of Binomo.
In a similar move, the risk of significant loss of funds forced other countries and unions to restrict its availability.
They claim that binary options differ from trading by offering a chance to place bets. Unlike regular trading, where you can buy and sell assets, in binary options, you can only emulate the rise or fall of the option’s value by availing of a yes or no proposition.
Since the presence of this betting element, the UK imposed a ban on binary options in April 2019. The ban was welcomed by the European Union as well, and they adopted the same. However, the European Securities and Markets Authority imposed it temporarily at that time.
(Risk warning: Your capital can be at risk)
Recognition and certification
Since 2018, Binomo has been legally active in most countries. The International Finance Commission regulates binary trading platforms such as Binomo, FTX, Quotes, Pocket Option, and Olymp Trade. To ensure the regulations in binary trading, IFC has monitored Binomo’s functionality. Therefore, IFC conducted a survey called “verify my trade” for better reliability of the platforms.
Binomo has won many awards in the trading industry. One of the most popular awards in the trading industry is the AIR award. This one is offered for global finance and economy in the industry.
Moreover, Binomo won the FE award in 2015 for being the best platform for beginners. For accessible user interfaces, this platform won the FE award. These awards are proof of the honesty and legitimacy of the company in the trading industry.
Binomo also provides CFD training with an affiliated company called TITAWIN. TITAWIN is also certified with VFSC. With this, Binomo can help the traders gain access to the financial market in this fast-moving world economy. So you can trade different derivative products like indices, commodities, equities, and others.
Binomo is ready to acquire a license from the CySEC, a regulatory body situated in Cyprus. CySEC denotes the legitimacy of trading platforms for brokers and traders.
Safe trading qualities
Do you value internal qualities and securities more? Then, Binomo is the perfect match for you to invest in binary platforms. Vanuatu Financial Services Commission VFSC is one of the most renowned authorities for financial regulation. The authority regulates all the non-banking services of the country.
Although binary trading is prohibited in the United States and several European nations, there is no such prohibition in India. So, you can freely use Binomo to improve your earnings. A trader can quickly get the payment or pay through different conventional ways in our country. Hence, you can easily pay with UPI, net banking, and other online payment gateways. Through easy accessibility, you can easily understand that Binomo cares for you.
Most importantly, Binomo was a category A member of the International Financial Commission in 2018. IFC helps to resolve different disputes between brokers and consumers in trading. It also acts as the regulatory body in the binary trading industry.
IFC memberships show the reliability and trust of Binomo in the world of trading and will make them one of the most trusted agencies in the trading world. The best feature of IFC traders is that the traders will get compensation. The guarantee will help you get a compensation fund if Binomo returns some amount. This membership will also help to show that Binomo is legit and safe
Conclusion – Check whether your country is available before trading
Binomo is a trading brand that works with clients all over the world. It aims at guaranteeing the most advantageous terms in the trading world. That is why it provides high-quality access to the world’s financial markets. A trader can use its High-end trading platform that offers a wide range of financial assets.
Therefore, she can enjoy some of the most advantageous trading terms and investment opportunities on the market. Binomo is also an established binary option service provider. However, being a binary options broker makes it unavailable in many countries. Despite that, it is still available in many countries, as we have discussed above.
(Risk warning: Your capital can be at risk)
ONKAR SINGH
says:Malaysia not working binomo app
Rohit
says:Hi I m from Austria…is in Austria working Binomo trading platform…we can download app or not….?????
Rohit
says:Hi I’m from Austria…Is quetox platform Also available in Austria…in Austria quetox platform legal …we can download and do trading in Austria possible…..?