RI Markets Review is Rimarkets.com Scam or Legit Broker

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Top Broker!
    Best Choice For Beginners!
    Free Trading Education!
    Free Demo Account!
    Big Sign-up Bonus!

  • BINOMO
    BINOMO

    Perfect For Experienced Traders!

Checking your browser before accessing scamrecovery.net.

This process is automatic. Your browser will redirect to your requested content shortly.

Binomo Online Binary Options Broker Review

What is Binomo?

Binomo is an online option trading broker that started operations in 2020. The broker is a subsidiary of the Dolphin Corp and is headquartered in the St.Vincent and the Grenadines under registration number 25151 IBC 2020.
with has there office located on the First Floor of First St Vincent Bank Ltd Building, James Street, Kingstown, St.Vincent and the Grenadines

Also, they work with a payment agent to secures there banking: Pollack Trade LTD (a company registered in accordance with the legislation of the Republic of Bulgaria, whose office is located at Georgi Sava Rakovski St. 96, Sredets Region, Sofia Municipality, Sofia 1000)

The platform provides contact customer support by Email [email protected]

Currently, this broker is only regulated by the International Financial Markets Relations Regulations Center (IFMRRC). The organization describes itself as a non-commercial body created to regulate services provided by brokers, dealers and other financial and investment institutions.

Binomo Platform guide:
Is Binomo a scam or legit online options broker?

One of the key features I look at when deciding whether a broker is legit or not is if they’re fully regulated by a reputable authority. As I mentioned, Binomo is regulated by the IFMRRC. I usually place preference to brokers who hold certificates from reputable authorities like CySEC, ASIC and FCA.

After combing through the Binomo website, I found that they have a pending CySEC and CPO regulation. Although it’s a good indicator about how serious the broker is about attracting traders from different parts of the globe, I’d advise traders to wait until they’re fully regulated by CySEC.

However, if you still want to try out the platform, you can take advantage of their low $10 minimum account deposit to start trading. This will enable you to try out the platform without risking a lot of money.

Trader Notice: You can safeguard your investment by trading only with a fully regulated broker. We have found 2 regulated brokers you might be interested in. Start trading with a reputable broker now!

General Risk Warning! your capital may be at risk

What makes Binomo stand out?

The Binomo platform is quite unique and offers several trader friendly features. One feature that really stands out is the ‘hotkey’ option. Once enabled, you can quickly issue commands such as increase/decrease investment amount and execute trades without using a computer mouse. The platform also provides many charts and technical analysis tools. This makes it easy to customize your trading interface to suit your trading preferences.

Does Binomo have any major shortcomings?

Every trader wants to have control over their investment. Binomo has a clause in their terms and conditions that seems to limit this control. According to the clause, you will have 10% deducted from your funds should you decide to withdraw before your trade turnover reaches at least twice the deposited amount.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Top Broker!
    Best Choice For Beginners!
    Free Trading Education!
    Free Demo Account!
    Big Sign-up Bonus!

  • BINOMO
    BINOMO

    Perfect For Experienced Traders!

For example, say you deposit $100 and decide to withdraw the whole amount before making trades worth $200 or more. Binomo will deduct 10% ($10) from your funds.

Should you open a Binomo trading account?

This online broker offers a demo trading account credited with $1000. This is a good place to get started in order to get a feel of the platform. You’ll only need a valid email account to open a demo account. In addition, you can easily replenish the demo account funds if necessary.

But, what does a real Binomo trading account offer?

The platform comes with a well-designed trader interface. It isn’t cluttered with a lot of features which is a great thing especially for beginner traders. Besides being able to trade directly from your browser, you can also access the Binomo platform via Android or iOS app.

Besides the demo account, there are three other account types to choose from as follows:
1. Binomo Standard Account

To open a standard account, you’ll only need a deposit of $10. Profitable trades provide a return of 85%. Withdrawals are processed within 3 working days.

2. Binomo Gold Account

The minimum deposit to open a gold account is $500. Gold account holders earn returns of up to 86% on profitable trades. This account type also attracts a weekly cashback of up to 5% and withdrawals processing of within 24 hours. Other benefits include a personal manager and advisory services.

3. Binomo VIP Account

The minimum amount needed to open a Binomo VIP account is $1000. You can receive up to 100% bonus once you open a VIP account. Returns on successful trades can reach 97% and withdrawals are processed within 4 hours. VIP account holders are also eligible for a 10% weekly cashback and other additional features not available to Standard and Gold accounts. It’s worth noting that each of these live accounts attracts a signup bonus. Bonuses are also offered to existing account holders from time to time. Binomo offers a range of tradable assets to choose from. These include currency pairs, commodities, stocks and cryptocurrencies. The number of assets you have access to largely depends on the account type you sign up for with VIP account holders having access to the widest range.

There are two option types to choose from. The turbo option allows you to enter and exit trades within a 60-second time frame. The classical high/low option on the other hand offers multiple expiry periods of 15, 30 and 60 minutes respectively.

You’re not tied down to the expiry you set at trade entry. The platform allows you to choose sequential 1 minute expiry periods of up to 6 minutes.

For example, if you enter a trade at 12.36 pm, you can set expiries of 12.37, 12.38, 12.39, 12.40, 12.41 and 12.42. There’s no limit to the number of positions you can enter at any given time. This makes it easier to maximize profits within a specific time period. You can also trade during weekends.

In order to be able to follow price trends easily, the platform’s chart can be divided up into several time frames ranging between 5 seconds and 5 minutes. By rolling your mouse wheel, you can zoom the chart in and out.

Binomo offers

The platform also offers a wide range of technical analysis tools that allow you to keep track of trends in real time. Binomo also offers the ‘hotkeys’ tool which is unique across the online options brokers I’ve tried out. What this tool does is activate keyboard shortcuts to common commands you issue while trading.

This way, you won’t have to rely on clicking on your mouse when issuing commands thus saving time. I would however recommend you first memorize the different hotkeys using your demo account before trying them with a live account.

If you’re just getting started as a trader, Binomo provides a collection of tutorials to get you on track. These include video tutorials, a detailed knowledge base, and strategies section. Their FAQ section however isn’t as detailed as you’d expect with any online options broker.

The minimum amount you can invest in a trade is $1. The platform accepts several payment methods that include credit/debit card, QIWI, Neteller and WebMoney. Withdrawals are made to any of these payment systems. The broker doesn’t charge any withdrawal fees unless you want to withdraw funds before trading an amount at least twice your last deposit.

Binomo also regularly offers tournaments which make it easy to earn money outside your normal trades.

So what’s my opinion regarding whether you should open a Binomo account or not?

I believe the platform has made an effort to stand out as a legit online options broker. I’m a bit reserved when it comes to brokers regulated by the IFMRRC only. Their requirement that you have a trade turnover exceeding twice your deposit amount before withdrawing is also something they need to work on.

However, given that you can deposit $10 and trade with as little as $1 I consider Binomo worth trying out. But before making my final conclusion, it’s best I consider existing trader complaints as well as a breakdown of how I rate different Binomo features. General Risk Warning! your capital may be at risk

Binomo trader complaints

Due to the IFMRRC regulation, it’s safe to say that Binomo primarily targets traders from Russia and other Asian countries. This could explain why I couldn’t find any complaints from traders in Europe or Australia (Binomo doesn’t accept traders from the US).

However, I did come across a YouTube video. In it, the trader complains about not being able to withdraw profits that were tied to bonuses. This is a typical complaint I’ve come across with regard to brokers that offer bonuses to new traders. I usually advise that you first read the fine print explaining the intricacies tied to profits earned from bonuses.

How do I rate different Binomo features?

As usual, I always try to compare different online brokers based on the different features they have to offer. So based on a rating of 20, here’s my breakdown of Binomo’s features.

User friendliness and accessibility

The Binomo platform is well designed. The trading interface isn’t cluttered with many features which often negatively affect usability. The ‘hotkeys’ option also makes it easy to issue different commands using your keyboard. Opening a demo account requires only your email address. The platform is also easily accessible via browser and mobile apps. The 14 language options also make it easy for traders around the globe to access the platform.

Account types

There are 3 real account types to choose from. The Standard account makes it easy to try out the platform without investing more than $10. Each account comes with its own unique features. However, Gold and VIP accounts offer more goodies including faster withdrawals, access to more assets and better support.

Number of Assets

There are about 80 different assets to choose from. These include currency pairs, commodities, indices and cryptocurrencies.

However, the number of assets you can trade in is limited based on the account type you hold. To access more assets, you’ll need to open a Gold or VIP account meaning you’ll need to invest more of your money.

Option types and expiry periods

You can choose between turbo options and classic high/low options. The former has expiry periods ranging between 1 second and 5 minutes. The latter has expiry periods of between 15 and 60 minutes. You can also enter multiple trades at a time.

Trader support

Getting started with the platform is quite easy. However, the amount of support you receive thereafter could use some improvements. Their phone support is available for 4 hours. You could still contact support through email,live chat and Skype.

Fees and effective return

Binomo doesn’t charge fees on trades executed. However, you can have 10% deducted if you decide to make a withdrawal before executing trades of at least twice your last deposited amount. Profitable trades can earn up to 87% effective return. This is considerably lower compared to other brokers who offer returns of up to 95%.

Deposits, withdrawals and bonuses

The platform accepts several payment methods including debit/credit card, Neteller, QIWI, Yandex and WebMoney. Withdrawals processing will take anything between 4 hours and 3 working days depending on your account type. Binomo also offers bonuses on deposits which can be up to 100% for VIP accounts. The turnover cap on bonuses ranges between 30 and 40 times the bonus amount. trading in Russia? We’ve found a highly rated fully regulated broker for you. Start trading with Olymp Trade now!

Website extras

Binomo provides the ‘hotkeys’ feature which I found to be unique, useful and time-saving. The ability to replenish your demo account is another feature I found useful especially for new traders learning how to use the platform. Another noteworthy extra is the different tournaments offered to traders. This allows you to earn extra money outside normal trading.

Conclusion

Binomo is a decent online trading platform. It comes with all the features you’d expect from a broker trying to attract traders from across the globe. The platform is well designed and offers many trader friendly features.

However, there are several shortcomings that cannot be overlooked. First is the regulation issue. Being regulated by the IFMRRC only locks out many traders especially from European countries.

Their phone support could use additional live hours. The 10% fee on withdrawals made before a certain turnover is achieved is another shortcoming worth considering before investing with this broker.

Overall, I wouldn’t rate Binomo very highly. If you’re looking for a highly rated and fully regulated options broker we’ve got the right one for you. Simply click here.

General Risk Warning! your capital may be at risk

Merit Forex Review: Scam or Legit and Professional Broker?

Merit Forex Review: Scam or Legit and Professional Broker?

0 Comments

Last Updated: Jan 3, 2020 @ 12:22 pm

Merit Forex offers various account types with variable spreads and leverage of up to 1:400. These accounts allow trading on the Meta Trade 4 platform as well as mobile trading on the same platform. On top of this, Merit Forex offers swap free accounts for traders of the Islamic faith in addition to managed accounts for those who would like to have their capital managed for them.

The accounts in question are standard, Active Traders, ECN and EA Robot. The minimum deposit for each one of the accounts is $250, $1000, $10,000 and $500 respectively. Trading conditions are specified on the broker’s website but their marketing materials suggest that this broker is praising himself for providing a unique trading environment for all types of traders depending on their needs.

While there are a few advantages that this broker seems to offer with their trading platform, there are also disadvantages which we will mention here. In the meantime, these Forex trading platforms are considered the best and you can sign up without having to worry that the brokers will mess you up by stealing your capital.

Merit Forex Review

Merit Forex seems to be offering competitive spreads on their websites except on their ECN accounts where spreads are not specified. This prompted us to try their demo for the ECN account on a pair like EURUSD and found that spreads were floating around 1.2 pips. This is in line with what most brokers charge for this pair and we have no doubt that this broker is quite competitive in terms of the spreads which they offer their clients.

The broker also supports MT4 platform for trading, which is a very popular trading software since most traders are familiar with the software compared to other solutions such as ctrader. The reason you want to choose a broker who supports MT4 platform is because the software offers compatibility with a wide range of charting and trading solutions which include expert advisors and indicators.

�� Want to make money automatically with Bitcoin and Cryptocurrencies without the risk of trading yourself? Are you ready for self-custody of your investment funds? Do you like the sound of regular consistent results and profitable performance? Tired of the forex and crypto scams, false promises and games out there designed to separate you from your hard earned funds? Stop everything! ETBOT is for you! With the ETBOT software, only YOU are in control of your investment funds. The software works using API Key connections that only YOU set up and control. The ETBOT service and mother company EndoTech has been making investors hundreds of percent a year in proven gains since 2020! They use the volatility of the Crypto market to trade long and short using breakout techniques and strategies powered by real Artificial Intelligence. This year so far ETBOT has made over 75% for clients since January 1st, 2020 . If you are ready to leave the trading to the professionals and upgrade your monthly income, now is the time, head to ETBOT now and buy your subscription to get started. PS: ETBOT is a Profitable Forex/Crypto Trading Bot. 100% Verified and Recommended by Valforex.com.

It virtually supports all kinds of automated trading solutions including live market updates for those who trade based on fundamental analysis.

In terms of leverage, Merit Forex offers up to 1:400 which is really high, although some brokers offer up to 1:500. It really depends with what kind of a trader you are. If you love taking risks, you will find that an account with high leverage is the best trading solution for you. However, if you are the conservative type of trader, then a low leveraged account offers the best solution for you. But generally a broker who is flexible tends to suit the needs of all traders regardless of whether they are conservative or aggressive traders.

Merit Fore offers a wide range of trading instruments which include Forex, CFDs, commodities, indices and precious metals. Apart from this, Merit Forex also offers trading in Crypto currencies. So traders can even trade a pair like BTCUSD.

Having said all that, Merit Forex may seem appealing but before you make a decision, you need to consider the cons of opening a trading account with this broker. Is Merit Forex a safe broker to trade with? Do they offer features which they claim to offer? Are they honest with their clients?

They are registered in an offshore destination

First of all, Merit Forex claims that they are a legally registered Forex broker with the Vanuatu Financial Services Commission. However, a background search has revealed to us that they are only registered as a securities dealer in this off shore destination. Let’s make it crystal clear that Forex brokers who are registered in Vanuatu or any offshore destination do not have to comply with strict conditions to be granted a license. In fact, these brokers are usually not being monitored by the authorities.

What this means is that Forex brokerage business is booming in that area at the expense of the client who might be looking for a reliable broker that he can trade with. It basically means that these brokers can decide to do whatever they please with your money because they are as good as not regulated.

Is Merit Forex a market maker?

It acts as the sole counter party in relation to their trading platform. This is stated in their client agreement. This simply means that the broker is acting as a principal to all trades on the platform which simply means that there is a huge potential for conflict of interest. It means that such a broker will not allow you to consistently win trades on their platform because they will be losing money in that sense.

Perhaps they can convince us with their ECN account type. However, with these other account types, conflict of interest is likely to arise and this will work to the disadvantage of the trader.

Comparatively high minimum deposit requirement

The minimum that you can deposit on their basic account to start trading is $250. This is comparatively high compared to tightly regulated brokers who charge $50 or less as minimum deposit.

We don’t know about you. But in our opinion, this deposit is still high for anyone looking to test a broker’s trading condition.

Overall, this broker seems to be offering something attractive. In terms of spreads, trading platform and even financial instruments, it is all great. However, what might bother a trader looking for a serious broker is the fact that Merit Forex is an off shore registered broker. You want a broker who puts your interest first instead of a broker that puts his first.

Our best advice for you

The location where this Forex broker is registered at offers a range of tax benefits to such companies and all Forex brokers based here are not regulated no matter what they claim. The requirements that the so called regulators have put forth are very lax. There are far more reputable brokers that you can deal with as opposed to brokers who are based in this region. You might want to try these highly recommended ones. They are affordable and their reputation is in order.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Top Broker!
    Best Choice For Beginners!
    Free Trading Education!
    Free Demo Account!
    Big Sign-up Bonus!

  • BINOMO
    BINOMO

    Perfect For Experienced Traders!

Like this post? Please share to your friends:
How To Choose Binary Options Broker 2020
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: