Binetrix offers “the whole package of pure perfection” for their “industry leading FX and CFD brokerage service,” but their offshore registration and lack of regulation make it hard to trust. To sum up, read this review before trading the website’s FX pairings, energy and soft commodities, equities, indexes, precious metals, and crypto coins.
Is Binetrix a Licensed Broker?
The fact that Binetrix is unregulated, as we’ve previously said, should be enough for you to recognize them as a fraud. For now, just remember that you have no reason to believe anything your new broker might say, including where it might be based and incorporated if you are unable to confirm their credentials and identity in the registers of any official regulatory institution. We will discuss the significance of proper regulation in more detail in the paragraphs that follow. And as a result, the Binetrix website is also effectively rendered anonymous.
Why Should Not You Trust an Unlicensed Broker?
You run the danger of losing all of your money if you fall for a scam to open an account and fund it with an unlicensed broker, not because you made poor trading selections, but rather because you won’t be able to withdraw even a single penny.
Such organizations are often managed by con artists and seem to be almost completely anonymous. Since they are well hidden behind fictitious offshore businesses, you have no prospect of finding the real owners of an offshore broker and taking them to court.
Warnings From Financial Regulators
Although Binetrix has not yet gotten any kind of warning, they are being watched by a number of financial regulatory bodies. Constant customer complaints and negative reviews guarantee that they will soon get a warning.
Leverage and conditions
Even if the presentation doesn’t provide any precise information on spreads and leverage, this is by far the least of our worries about the website in question given that Binetrix is an offshore company without a valid forex license, and that “the broker” in general exhibits every scam indicator imaginable.
Minimum Deposit and Withdrawal Terms of Binetrix
Otherwise, Binetrix’s minimum deposit requirement is around four times more than what most brokers would typically demand. While most brokers would typically enable you to start trading with about 250 USD or even less, you are required for a minimum deposit of 1000 EUR.
Platform Offered by Binetrix
Unfortunately, we were unable to use the robust web platform that Binetrix advertises because we were not given the chance to open a trading account.
Whatever the case, keep in mind that the lack of any tried-and-true trading platforms, such as the industry standard MetaTrader4 or MetaTrader5, is yet another obvious sign that you are about to be dumped.
Victim of Binetrix Scam? Report Your Story To Us.
If you get scammed by Binetrix, don’t be late to report the scam to us. We will provide you with a free consultation and will guide you on how to recover the lost funds.
Ways to Make a Deposit
Whatever the case, keep in mind that scam websites like Binetrix often attempt to persuade you to make a deposit in bitcoins or other cryptocurrencies because there is a very solid reason for it.
Country Serving by Binetrix
Binetrix is currently serving in the UK, USA, and Australia.
What Do Traders Think Of Binetrix?
A common theme about consumers’ dissatisfaction with Binetrix surfaced after some research was done on several social media platforms and online trade forums.
We hope that our review of Binetrix made it clear that, Binetrix is a pure scam. Your money will be at risk if you invest in that platform.
Is Binetrix trusted?
No, Binetrix cannot be trusted. They are unregulated and unlicensed. They don’t even put their trading condition details on their website. If a trader is authentic, then there will be no reason to hide the trading conditions and other details.
What is the problem with an unregulated broker?
An unregulated broker will not provide you with any kind of investment security or backup when your investment will fail. Also, they are not bound to provide any kind of transparency report to any financial authority.
Is it possible to recover my scammed money?
Yes, it is possible. If you report the scam to us, we can help you with a free consultation and provide some good references on some good recovery companies to recover your lost funds.
Can MT4 trades be faked?
No, this is not possible to fake any trade.
How do I know if a forex broker is real?
The real broker always holds their license and they are registered in the related financial authority’s database.