Many people have been scammed out of thousands of dollars by con artists operating under the guise of the website www.fxbinastrade.online. These con artists have taken advantage of many people. Because of this, we strongly advise you to steer clear of the con artist because there is a significant possibility that you will lose your money if you make the mistake of sending your money to the crooks.
Is FXBinasTrade a Licensed Broker?
After doing more research on this broker, we found that there was no listing of the individuals who are responsible for running the brokerage. This suggests that persons using false identities are in positions of authority. This can’t possibly be a positive development. In most cases, trustworthy brokers are ready to demonstrate that they are in possession of the necessary licenses and qualifications for the work. It would seem that FBInastrade has a lot to conceal, and as a result, we cannot put our faith in them. It is imperative that before joining up with a broker, all information about that broker be thoroughly verified due to the frequency of fraudulent brokers.
Why Should Not You Trust an Unlicensed Broker?
The vast majority of fraudulent investment schemes are either not regulated at all or are governed by an offshore regulatory organization that cannot assist you in the event of a crisis. Bear in mind that if an investment business steals your money, you won’t be able to lodge a complaint about it unless the firm in question has a license issued by an authoritative regulating body.
It is obvious that an uncontrolled business is not permitted to exist in any nation that does have regulations in place, and you should under no circumstances invest any money in such a business. You should steer clear of any investing businesses that are either unlicensed or located abroad.
Is FXBinasTrade Can Be Trusted?
No, it is clear that FXBinasTrade cannot be trusted. They have several regulation issues and warning from FCA. With these issues, an organization should not be trusted.
Warnings From Financial Regulators
On 21st November 2022, FCA published a warning against this platform. In the warning post, they mentioned that this organization is not regulated by FCA and any kind of monetary loss of its clients will not be covered by FCA.
What Do Traders Think Of FXBinasTrade?
Following some investigation on investing forums and other media, we discovered that some individuals had varied feelings about their interactions with FxBinasTrade and left mixed evaluations about it. It would seem that FxBinasTrade is not a trustworthy investment organization; thus, you need to take this into mind before making any financial commitments.
Platform Offered by FXBinasTrade
We are unable to get any information on the trading platform that they use. Due to the absence of a demo account option, we are unable to get a glimpse into the workings of their platform by signing up and making a financial commitment.
Country Serving by FXBinasTrade
Currently, they are serving in the UK, USA, and Australia. Though, we have received several complaints from Estonia, Italy, and Newzealand too.
FXBinasTrade Range of Trading Markets
FXBinasTrade offers their clients 1:1000 leverage and they guaranteed this profit. But, how can a company guarantee this kind of high-leverage return when most prominent traders cannot guarantee that the profit will come?
Minimum Deposit and Withdrawal Terms of FXBinasTrade
According to their website, FXBinasTrade required users to deposit of $500 to open an account and the amount should be deposited by purchasing equivalent Bitcoin, which is suspicious.
Regarding withdrawal of the money, you will not be required to provide any withdrawal fee, but in reality, when you will want to try to withdraw your profit, they will tell you to provide a 20% tax fee otherwise they will threaten to freeze the account.
Ways to Make a Deposit
You can deposit money by debit/credit card, cryptocurrency, and wire transfer. But among them, crypto purchasing is only active, which is a clear sign of a scam.
Victim of FXBinasTrade Scam? Report Your Story To Us.
Do not give them your email address or phone number since the con artists that manage this company are notorious for their ability to persuade people into handing over their personal information.
If you are a victim of the FXBinastrade scam, please submit a report to us and we will provide you with a free consultation to recover the money.
Some individuals have unknowingly been victims of con artists after providing the con artists with their contact information and then being persuaded by the con artists to send large amounts of money. Before engaging in any kind of transaction, investors should do an exhaustive investigation of any forex firm they are considering doing business with.