Not regulated broker
Not regulated broker
About BinaryUno Brand
Binary Uno is an online trading broker who started their operations in 2005. The platform is owned and operated by the UNO Media Solutions Limited. They have their headquarters in Bath Street, Glasgow, Scotland. There is no information available on their website that confirms that they are regulated by a trusted authority like CySEC. Investing money on unlicensed broker can result in losing out all your money and that’s why you need to be careful while trading on the Binary Uno. You should only deposit the money in one of their accounts if you feel 100% secured.
You should proceed cautiously while selecting a broker to open an account as there are so many online trading platforms that have launched in the market these days. When it comes to Binary Uno, the platform offers an adequate level of trading services. However, the official website of Binary Uno is extremely slow and lacks important information. The minimum amount that you can invest in the platform is $25 while the minimum deposit that is required to begin trading on Binary Uno is $250. However, it varies from one country to another. They haven’t clearly mentioned all the details on their website and that’s why it confused us. They need to modify their website by adding the required details and making its interface faster.
The platform comes with all the traditional features and asset index through which users are allowed to invest their money in currencies, stocks, commodities, and indices. There are many different types of trading options available on the platform that include pair options, sixty seconds, long term options, ladder options and one touch options. The platform’s website is based on the SpotOption interface that is used by the majority of the brokers nowadays.
The majority of the features that you can find on this broker’s website can be found on the platforms of other brokers. So, there is nothing exciting and new when it comes to Binary Uno. Along with their website, they have built mobile apps for Android as well as iOS platforms. One thing that you will really appreciate on the platform’s interface is their educational resources. There are lots of excellent tools that can help the beginners to start out trading on the platform. Additionally, it will help you in knowing about all the techniques that can be useful in the long run. Other than that, there is nothing that deserves appreciation on their trading platform.
There are many different types of trading options that you can enjoy on the platform. We have mentioned all of them in detail below:
1. Digital Options
In a digital option, you have to make a prediction whether the price of an asset will increase or fall by the end of expiry time. It is one of the most common types of option type in the market.
2. 30/60/120 second options
It is the quickest way to make a profit on the platform and ideal for the people who are looking to make a short-term profit. The platform offers up to 70% profitability to the traders on their investments.
3. Long Term Binary Options
This trading option allows the traders to invest in a long-term profit. In a long term binary option, the minimum period of investment time is 3 days.
4. One Touch Options
In this type of trading option, you can earn a payout up to 500%. However, there is a greater risk involved in one touch options because you can lose your entire investment money if the prediction goes wrong.
5. Ladder Trading
In this type of trading, you will get many price levels that are situated at an equal length from each other in the form of a ladder. It is a complicated type of trading options and you should contact their customer support prior to investing in it.
There are five different types of account offered by the Binary Uno for the traders and you can select one as per your requirement and choices:
1. Micro Account
The minimum amount needed to open a Micro account is $1,000 that is much more than the cheapest account offered by the other brokers. However, the maximum amount that you can invest in this account is $5,000. Have a look at other features of a micro account:
- Account Manager
- Daily updates regarding financial market
- 10 daily signals
2. Standard Account
A standard account can be opened by making a minimum deposit of $5,000, whereas the maximum amount that can be deposited in this account is $10,000. This account comes with the following features:
- Advanced training resources
- 2 risk-free trades
- A personal account manager
- 20 daily signals
- Daily updates on financial market
3. Premium Account
It is the most popular account on the Binary Uno that can be opened by deposit an amount of $10,000 and the maximum amount that can be invested in a premium account is $50,000. Along with that, you will get access to following features in this account:
- 30 daily signals
- 5 risk-free trades
- A senior account manager
- E-learning trading course
- Updates on the financial market
4. VIP Account
In order to open a VIP account, you have to make a minimum deposit of $50,000. The maximum amount that one can invest in this account is $250,000. Have a look at some top features of a VIP account are mentioned below:
- Premium deposit and withdrawal processing
- All daily signals
- Updates on financial market on a daily basis
- 10 risk-free trades
- A Personal analyst
- Advanced e-learning trading course access
5. Elite Account
It is one of the most expensive accounts that can find in any of the online trading platforms. You can only open an elite account by depositing a sum of more than $ 250,000 that can too much for a normal trader. Look at some features that come with an elite account:
- Personal senior analyst
- 20 risk-free trades
- Daily updates on financial market
- All daily signals
- Access to advanced e-learning trading course
After reviewing all the accounts offered by the platform, we came to the conclusion that the amount requires to invested is too much when compared to the features that come with it. There are nothing much exciting and newer things in these accounts for which they should ask for these huge profits.
The traders will get a deposit bonus on joining the Binary Uno platform. However, the amount of bonus depends on the type of account you have opened with them. For instance, the micro account holders get up to 35% deposit bonus whereas the standard account holders can get a deposit bonus up to 50%.
The premium and VIP account holders receive a deposit bonus up to 75% and 100% respectively. The elite account holders can get a huge deposit bonus up to 150% on this platform.
If you ask us frankly, we don’t understand how they are giving bonuses on the premium and smaller accounts. They should focus on all types of account holders in an appropriate way instead of caring for just premium accounts.
The biggest flaw in the platform is that you don’t get a demo account, which can be a reason to worry, especially for starters. A demo account can help a trader in much different to understand the platform in an appropriate manner before investing real money. Binary Uno should think about adding a demo account to their interface if they are looking to establish themselves as one of the best online trading platforms in the world.
The broker has developed mobile apps for both the Android as well as iOS devices. These apps allow the users to trade while they are unable to access the platform’s website. It is a user-friendly app through which you can explore their platform in the same way as their website.
Binary Uno’s mobile apps are ideal for the people who usually travel and want to invest their money while they are on the go. The interface of the app is pretty good and you can enjoy interrupted trading through it.
There are many methods available on the platform through which you can deposit funds into your account. It consists of credit/ debit cards, wire transfer, Web Money, Paysafe Card, Yandex Money, and bitcoin. The credit or debit card deposit can show in your account instantly, whereas the wire transfer takes up to five business days to process.
As per our recommendations, the credit card is the best way to deposit your funds. The number of deposit options is quite less as compared to the other well-known brokers. They should work on this area in the near future for reaching the same level as their competitors. The minimum amount of money that you can invest in a single option is $25.
They haven’t clearly mentioned about the withdrawal details on their website. The minimum amount that can be withdrawn from the account is $100 and they will charge $35 as an administration fee for every transaction. There is no limit on the maximum amount of money that you can withdraw from your account.
Your withdrawal request can be completed between 5-10 working days depending on your bank’s guidelines. They should add more information for allowing the traders to understand their withdrawal process easily.
There are no tournaments or promotions organized by the platform for the traders. The majority of the brokers promote tournaments on the regular basis through which traders can earn lots of bigger prizes. You should consider this flaw while registering with this platform.
There are many different types of educational tools available on the Binary Uno that include tutorials, binary strategies, advanced courses, ebook and economic tips. However, the access to these resources again depends on the type of account you have.
The lower level account holders will only get access to basic training tools and tutorials whereas the upper-level accounts can use all the advanced courses and ebook for improving their trading skills. Additionally, they also organize webinars on the regular basis on their platform.
Basically, there are three major ways through which you can contact their customer representative team, i.e. phone number, support chat and support ticket. As our experience, they offer a decent level of customer care services to the traders that can be improved if the platform tries.
They should try to train their representatives in a more professional way so that they can attain 100% customer experience. You should try to use support chat while contacting their representatives as it is the fastest and best option.
Have a look at the some of the advantages of using Binary Uno for online trading:
- User-friendly mobile apps
- No need to download any software plugin
- Choice of more than 30 assets
- Wonderful features for premium account holders
You have to deal with the following disadvantages while trading on this platform:
- No demo account
- Unregulated trading platform
- Low-quality interface
- Lack of information about the basic things
- No tournaments or prizes
We can’t determine conclusively that the Binary Uno platform is a legit or a scam. However, there is a greater chance that it is a scam. They aren’t regulated by the CySEC that puts the investors’ money at risk.
Moreover, we weren’t able to find the adequate information about them online. It makes the matter more complicated and that’s why we want to advise our readers to look for the other reliable platforms that have made their reputation in the market. We strongly suggest you stay away from this broker if they want to invest their money in safer hands.