Binary Uno Reseña

On-line since: 2005
Country of origin: Dominica
Regulation: -
Payment options: wire transfer, bank cards, electronic payment systems
Minimum account size: $250
Minimum lot size: 0.01 lot
Leverage: up to 1:25
Spreads: floating

About the company:

Binary Uno offers to trade CFDs on currency pairs and commodities.

Company’s history

The company was founded in 2005. The management decided not to share the main stages of development of Binary Uno. Perhaps, earlier this broker operated as a binary options broker.  

Security of funds

The brand is owned by Smart Choice Pro Limited registered in Dominica. We have found no information on a license by any regulator on the broker’s website. Notably, Dominica is an offshore zone, where anyone can open a tax-free business in the short term. We advise traders to be cautious when working with offshore brokers and read recommendations and feedback, as in case of the broker’s bankruptcy all investments may disappear. Besides, there are also many scammers in offshore zones.  

Moreover, earlier Binary Uno was registered in Seychelles and owned by another company.

Trading conditions

The broker has several types of accounts: Micro, Standard, Premium, VIP, and Elite.

Minimum deposit

A trader has to make a deposit of at least 250 dollars, euros or yens, depending on the currency of an opened account. The registration on the platform is free.

Despite the minimum deposit of $250 specified by the broker, a trader can open an account only with $1,000 (Micro).  

Spreads and commissions

The company does not charge any brokerage fees or commissions for transactions. Binary Uno makes profit on spreads. Even unregistered users can enter the Binary Uno trading platform. We used this opportunity to see what spreads are offered by the broker. In general, they start from 0 pip.

Leverage

Binary Uno provides leverage of up to 1:25.

Trading platforms

Binary Uno offers its own trading software, a web platform that is available online. It is easy to use and has an user-friendly interface. We can note that it is too simple, there is no news and the platform provides just a few analytical tools. Moreover, the platform has no mobile version.

Special services

We found no services that differ Binary Uno from other brokers. Even its platform is too simple.

Support service

Samrad Ltd is a representative of this broker with a legal address in Moscow. Traders can contact support experts via email, a live chat or a feedback form.

Payment options

You can make a deposit in several ways: credit cards, debit cards (Visa, Mastercard, Maestro and VISA Electron) wire transfers, and Cash U.

Please note that in case of depositing with a bank card less than $500, there is a commission of $25 charged.  

Funds transfers are processed within up to 5 working days.  

Traders can invest anonymously through Cash U.

Clients’ criticism

There are a lot of reviews about Binary Uno on the Internet, and literally any of them has the word "scammers". Traders complain that the broker freezes their funds and that managers stop responding after the deposit has been credited.

To sum up, we would like to advise traders to always pay attention to the broker's reputation, its regulation, and its history. This will significantly reduce the risk of fraud.

Advantages:

• CFDs trading.

Disadvantages:

• offshore broker;
• no license by a regulator;
• high initial deposit of $1,000;
• limited number of assets for trading;
• no MT4;
• bad reputation.