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Binany is a legally registered binary options broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.
Binany accepts clients from all over the world as long as they open an account in USDT.
But generally, the broker is oriented on clients from India, Bangladesh, Kenya, Sri Lanka, Myanmar, Pakistan and Uzbekistan.
Binary options broker offers the following underlying assets for trading.
| 20+ Currency Pairs | Based on major world currencies. |
| 2 Crypto BOs | Based on Bitcoin and Ethereum. |
| 2 Crypto Indice BOs | Based on Binance Top 20 Index and Altcoin Index. |
| 1 Metal BO | Based on Gold. |
Binany is an offshore binary options broker registered in Saint Vincent and the Grenadines. Like other forex and binary options brokers registered in that nation, Binany is not regulated by any government authority, and traders therefore should do their own solid due diligence before depositing any money with it.
Having been around since 2018, Binany has already built a certain track record in the brokerage industry. As such, it could be seen as a less risky choice than some newer offshore forex brokers.
It is also worth noting that traditional binary options trading now is banned in most of the large onshore jurisdictions, including in the EU, Australia, and the UK. As such, signing up with an offshore (and sometimes unregulated) broker is therefore in many cases the only choice for those who want to try their luck with this type of trading.
As the broker makes clear on its website, binary options trading is one of the simplest forms of trading that exists. All a trader needs to do is to guess whether an asset will move up or down in price within a predefined time period. A correct guess will result in a profit, and a wrong guess will result in a loss.
As the broker puts it on its website: “Things are easy: you only need to predict whether the price of a certain asset will rise or fall.”
What the broker fails to mention, however, is that while the technical trading process may be easy, developing an edge that gives the trader more than a 50% chance of success is not easy in binary options trading. This type of trading requires a different set of trading strategies than those that are typically used in forex & CFD trading, and there are many cases of traders who simply end up guessing the direction of the market based on their gut feeling. Over the long term, this is unfortunately a recipe for failure.
When it comes time to trade, Binany clients have the choice between betting on price moves for a variety of underlying assets. At the time of writing, these assets include more than 20 forex pairs, gold, and a small selection of large-cap cryptocurrencies and crypto indices.
As with most binary options brokers, the trading platform is entirely web-based and extremely easy to use. The screen consists of a streaming price chart, and selections for time period, bet size, and arrows to indicate whether the bet is for a lower or higher price. We should also note that the platform is free to use in demo mode for anyone who wants to experiment with it without risking their own hard-earned money.
All in all, this is one of the simplest forms of trading that exists, and it should therefore be suitable for beginners and those who just want to dip their toe in the financial markets.
Funds can be deposited using a number of e-wallets, including Perfect Money, Neteller and Skrill. Additionally, this broker accepted deposits made with the cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).
The minimum deposit to start trading with Binany is $10. Trading accounts are denominated in USD or USDT, a popular stablecoin that is pegged 1-to-1 with the US dollar.
In conclusion, we should say that Binany stands out from many other binary options brokers in that it appears to accept clients from basically every country in the world as long as the account is opened in USDT.
Still, it is important to keep in mind that this broker is completely unregulated. As always, that comes with certain risks, including the risk of a total loss of deposited funds if the broker goes bankrupt or otherwise ceases to operate. Because of this, we urge everyone to make sure they fully trust Binany (or any other broker for that matter) before depositing money with it.
