Binary Uno trades CFDs on currency pairs and commodities.
history of the company
The company was founded in 2005. The management decided to keep silent about the main milestones in the development of Binary Uno. Perhaps this broker used to work as a binary options broker.
The brand belongs to the company Smart Choise Pro Limited, registered in Dominica. On the broker's website, we did not find any information about the presence of a license from any regulatory body. It should be noted that Dominica is an offshore zone where you can open a tax-free business in a short time. We advise traders to be careful when working with offshore brokers and read recommendations and reviews about them, since in the event of a broker's bankruptcy, the invested funds may be lost. There are also many scammers working in offshore zones.
In addition, Binary Uno was previously registered in the Seychelles and owned by another company.
The broker has several types of accounts: micro, standard, special, VIP, elite.
The trader needs to deposit a minimum of 250 USD, Euro or JPY, depending on which currency the account was opened in. Registration on the platform is free.
Despite the fact that the broker indicates the minimum deposit as $ 250, you can open an account only from $ 1000 (Micro).
Spreads and commissions
The company does not charge brokerage fees or commissions for transactions, Binary Uno makes money on spreads. Even unregistered users can log into the Binary Uno trading platform, we took advantage of this to see what spreads the broker offers. In general, they start at 0 pips.
Binary Uno provides up to 1:25 leverage.
Binary Uno provides a proprietary web platform development that runs online from a browser. The platform is easy to use and has an intuitive interface. We would even say that it is too simple, there is no news, a small number of analytical tools. Also, the broker does not offer mobile versions for the terminal.
We have not found any services that would differentiate the Binary Uno broker from the rest. Even the broker's terminal turned out to be too simple.
In Russia, the trader is represented by Samrad LLC with its legal address in Moscow. Support specialists can be contacted by email, live chat or feedback form.
Ways of payment
There are several ways to make a deposit: by credit card, debit card (Visa, Mastercard, Maestro, VISA Electron), bank transfer and Cash U.
Please note that for a credit card deposit of less than $ 500, a $ 25 fee will be charged.
The transfer of funds can take up to 5 business days.
You can invest funds anonymously through Cash U.
Criticism of traders
There are many reviews on the Internet about Binary Uno, and almost all of them contain the word “scammers”. Traders complain not only about the impossibility to withdraw profits, but even that managers stop responding after the deposit is credited.
As a result, we would like to note that traders always pay attention to the broker's reputation, its regulation and its history, this will significantly reduce the risk of fraud.
offshore broker; no regulatory license; high deposit for trading - $ 1000; limited number of assets for trading; no MT4; bad reputation.
BINARYUNO is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker BINARYUNO makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. BINARYUNO received a score of 1 of 5 on our resource.