Binatex Scam Test

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Binatex review – broker to trust or a scam to avoid?

Today we will have a closer look at binary broker binatex. This broker has launched several marketing campaigns all over Europe. But can the broker be trusted? Or did we come across to just another scam? More in a detailed review…

When reviewing a binary broker we always focus whether the company is fully licensed so it would be under constant supervision of regulatory authorities. Binatex does own a licence, but only FMRRC which was given to him by the Russian Federation. Therefore the broker’s presence is in question in other European countries apart from Russia. We tried to search for a CySEC licence or any other European licence, but without any luck. Broker which does not have such a licence should not offer their services to traders from other European countries.

Website www.binatex.com
Regulated by: FMRRC
Minimum trade: 1 USD
Minimum deposit 10 USD
Demo account Yes, free of charge
Types of options Classic high/low (payouts around 70%), 60 seconds
Advanced functions
Trading assets Currency pairs, stocks, commodities, indexes

What is Bintex.com – First impression

Binatex is a broker that offers binary options trading. When you visit a website of this broker for the first time you might be a little bit surprised, or at least I was. The main page promises certain income which you can make by trading binary options. The broker also lures traders on the promises of what you can buy with the money you make. But how can the broker be so sure how much I will earn? (if I will). And how can they know that just on the information how big my capital is or how much time I want to spend on trading? At least for me, this is a sign of a scam broker.

Trading platform

The trading platform itself does not look bad, However, the navigation is terrible. It took me over 4 minutes to find out what the payouts on my asset are and another 10 minutes to discover, how can I change an asset. Payouts move around 70%, so nothing special in comparison to the competition. On the platform, you can trade 27 currency pairs, 2 commodities and 3 virtual currencies (BitCoin, LiteCoin, Ethereum).

Minimum trading requirements

In order to start trading with binatex.com, you need only 10 dollars, and trades can be made from 1dollar. The conditions may be familiar to you because the exact ones have trusted broker IQ Option. So in this concern, the broker is doing very well.

Binatex demo account and deposit bonus

At binatex.com you can start trading on a demo account which is for free. When you create a demo account you receive 1 000 imaginary dollars so you could test the platform, your strategies or trading plans. Since the broker does not have the CySEC licence, it is no surprise to me that the deposit bonus is offered here. The deposit bonus was prohibited to brokerages which own CySEC licence for very obvious reasons. Companies very often tried to lure traders to „free extra money“. But in practise traders were almost never able to make rollover the bonus as many times as the broker demanded. And when the trader did not meet this requirement some brokers took advantage of it and made problems to the traders with withdrawals. So even tho Binatex does offer a deposit bonus, I do not recommend to take it to any trader. It is just not worth the risk.

Things I do not like about the broker

  • The fact, that its presence is almost all over European market illegal, apart from Russia
  • Promises of certain earnings on the homepage
  • Misleading advertisements which the broker had paid on some websites.
  • Low payouts
  • Very difficult orientation on the platform

Final word, is Binatex a scam?

Unfortunately, we can not review binatex.com in a good light. The fact that the broker has paid advertisement all over the Europe even tho it should not operate here (apart from Russia) cannot be simply overlooked. Minimum trading requirements and a demo account are fine, but they are offered also by a trusted and licensed broker IQ Option. The trading platform is quite fine, but the payouts are far behind the competition in this field.

Final verdict: Not recommended, tested competition is several levels ahead.

Trusted Binatex Review and Test

Table of Contents

You want to open an account Binatex and you are searching for a trusted review and test of the trading platform? – Then you are completely right on this page. As experienced traders, we tested this platform in detail and give you in the next section accurate information about the broker. Should you invest your money there or not? – Find out in our review for traders.

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Official website of Binatex

Binatex is a sponsor of Alex Volkov

Binatex is registered company

Review: (4 / 5)
Regulation: No
Location: Cyprus (EU)
Demo account: $10.000 free
Minimum deposit: $10
Assets: 50+ (Forex, Cryptocurrencies, Stocks, Commodities)
Yield: 70% – 90%+
Support: Phone, Chat, Email 24/5 multi-language
Special: Bonus program

(Risk warning: Your capital is at risk)

Introduction of Binatex

Binatex is an international broker for Binary Options. The company was founded in 2020 and accepts traders from everywhere. The main customers of Binatex are from Europe because the company is based in Cyprus. The Binatex Website is managed by the Binatexia LTD and the Yulanta business Ltd. On the website, we find the registration number of the company and the legal documents.

The focus of Binatex is it to create a perfect trading platform for Binary Options. On the Internet, there is a lot of scam around Binary Options and Binatex tries to change it with reliable software. In addition, the broker is a sponsor of the UFC fighter Alexander Volkov. The company is gaining more and more popularity. You can start trading with a free demo account or a small minimum deposit of $10.

Awards of the broker Binatex

Information about the Company:

  • Founded in 2020
  • Based in more than 3 countries (Cyprus, Europe, Seychelles)
  • Multi-awarded platform
  • Sponsor of the UFC fighter Alexander Volkov
  • Popular platform in Europe
  • The company tries to build the perfect trading platform

Trading on the Binatex platform explained:

In this section, we will give you a deeper look into the trading conditions for traders. When it comes to Binary Options trading there should be good software and a reliable broker as a partner when you want to trade successfully in the long run. Binatex offers a trading platform for desktop and mobile devices. You can trade Binary Options on different markets by selectable expiry time.

In the picture below you see a screenshot of the trading platform:

Screenshot of the Binatex Trading Platform

Binary Options is a risky financial product for investing in rising or falling prices. Traders can gain a fixed return of up to 90% with Binatex. There are only 2 options. You can win the fixed return or lose your investment amount. So you have to do the right forecast of the price movement. By trading Binary Options you will get an entry point (strike price) for your order. After a certain time horizon (expiry time) the price has to be above or under your strike level in order to win the fixed return.

Summary of the trading instrument Binary Options:

  • Invest in rising of falling markets
  • Get an entry point (strike price)
  • Limited profit and loss
  • Expiry time from 60 seconds up to 24 hours
  • Maximum return of investment 90%

Trading instruments and conditions

With Binatex you can trade forex, commodities, and stocks. There is a limited asset varierity compared to other brokers but in our opinion you should feel comfortable with it. There is a range from major and exotic currency pairs. The return of investment (yield) is between 70% and 90%. It is depending on the asset and market situation (time).

Overall, there are on average more than 3.000 online traders on the platform at the same time. Traders can start with a free $10.000 demo account or a small minimum deposit of only $10. With Binatex everyone can participate in the financial markets. Moreover, the minimum trade amount is $1.

Binatex Asset profitability

There are no hidden fees by trading Binary Options. You will not pay any commissions whether by trading or by depositing or withdrawing money on the platform. For depositing money you can activate a free 100% deposit bonus on the platform. This gives you additional money. From our experience, Binatex offers competitive trading conditions because of the stable return of investment and fast order execution on the platform. In the next section, we will show you how to trade.

(Risk warning: Your capital is at risk)

Trading tutorial: How to trade with Binatex

It is not difficult to learn to trade with the Binatex platform. All you need to know is how the financial product is working correctly. First of all, you have to do an analysis of the market. There are a lot of trading strategies on the internet which are working successfully. Also, Binatex is providing trading videos about the platform and trading strategies. You can educate yourself with Binatex.

Ordermask of the Binatex Platform

After you made a forecast of the price movement you can choose the amount for your investment. It is starting at only 1$. On the order mask, you will the potential payout (in this example above 90%+ = $190 payout). Next to the investment amount you choose the expiry time (time horizon) of the trade. If the time is over the trade is closed automatically and you will know if you made a win or a loss.

Now invest in rising (call) or falling (put) prices with one click. Your order will be opened directly and you will see your strike price. The market is always moving. If the price is above or below your strike price (entry point) you will make your profit after the expiry time. The forecast of the market has to be correct to make the return of investment.

How to trade with Binatex:

  1. Make an analysis and forecast of the market
  2. Choose your investment amount
  3. Choose the expiry time of the trade (60 seconds up to 24 hours)
  4. Invest in rising or falling prices
  5. Wait till the option is finished
  6. Accept the win or loss of the trade

From our experience, the execution of trades is fast and reliable with Binatex

Should you open an account with Binatex?

Binatex is a legal company but it is not a regulated one. From our research, the broker is working on financial regulation in Europe and internationally. When the final regulation will come we do not know. Another sign of reliability is the sponsorship of Alex Volkov. In addition, we can see advertising spots of the company in some tv-shows.

You should try the broker by yourself. Because it is an unregulated broker we recommend to do a fast withdrawal of your profits. Moreover, you can start with a very small amount of money. From our experience, the broker is not cheating on its clients. For a good trading experience, you should verify your trading account which we discuss in the next section.

How to open your account:

It is very easy to open an account with Binatex. You just need your email address and you can start trading. Because it is an unregulated Binary Options broker you can start trading without verification of your account. We strongly recommend fulfilling the account profile correctly. The broker can require some personal documents after you deposited real money or want to make a withdrawal. But overall, there should be no problem for you to open an account. The broker is accepting traders from everywhere except the United States.

Open your account with Binatex

Open your account in a few steps:

  1. Open the account with just an email address or social media profile
  2. Start trading without verification
  3. Traders accepted from everywhere except the United States
  4. You get direct access to the platform and demo account with $10.000

(Risk warning: Your capital is at risk)

Free demo account for beginners

If you are new to trading or the Binatex platform you should try the free demo account for trading. It is a practice account with virtual money. You can try out the platform for free and without any risk by using the demo account. If you made a loss it is possible to deposit virtual money on the demo account. It is an unlimited and free account for every trader. Just change with one click between real money and demo account trading.

Binatex demo account

Review of the deposit and withdraw money methods:

As mentioned before you can start with a minimum deposit of only $10. In this section, we will review the payment methods and conditions for money transactions. Binatex offers more than 10 different payment methods for the deposit and withdrawal. Sometimes the payment method is depending on your country of residence.

Traders can use credit cards, cryptocurrencies, and electronic wallets like Yandex, Webmoney, VLoad for their transactions. Surprisingly there are no fees for depositing and withdrawing money on the platform. The broker says that withdrawals are made within 24 hours on working days. The money is managed in European banks.

Binatex payment transactions

Overall, it is very easy to deposit funds on the Binatex platform. If you want you can accept a free bonus of up to 100%. Binatex always offers special bonus codes or events for the traders.

Facts about the Binatex payments:

  • No fees for depositing and withdrawing money
  • Credit Cards, cryptocurrencies, electronic wallets
  • Free bonus
  • Minimum deposit of $10
  • Fast withdrawal

Support for traders:

There is multi-language support which is working 24 hours per week but sometimes the support is offline for some hours. There is a phone, email, and chat support. In addition, the page is translated into more than 20 different languages.

The service is not at its best compared to other brokers. There are only a few educational videos and sometimes the support is working very slow. That is why we can not give Binatex a full star review.

Support: Active: Phone: Email:
Phone, Chat, Email 24/7 8 (800) 333-20-67 [email protected]

Conclusion of the review: Binatex can be a legit broker

Overall, Binatex is a typical offshore broker at the moment. There is no regulation that brings the advantage that you can trade without verification and open the trading account very fast. There are more than 50 different assets to trade by starting with only $10 or the free demo account.

Traders can profit from a high return of investment up to 90%+ and the free bonus program. From our experience, the platform works correctly but the broker could improve the platform by some features. Another advantage is that there are no hidden fees for traders.

Binatex is a legal company but there is no official regulation. So be careful with big investments we only tested the platform with a very small deposit which worked well for us.

Binatex offers to trade with small amounts of money for every trader but it is not the best platform. (4 / 5)

Binatex Scam Test

Binatex Scam Test

Another binary options broker is up for review. This time, we will be analysing the security system of a company that has been around for several years. From 2020, to be exact. Surviving that long in the trading industry is quite a challenge, but to make sure no Binatex scam can occur, we have to conduct a much more thorough examination. That’s why we will take a look at the company’s papers and at the system they have in place to protect your sensitive information. Things like these are not negotiable if a broker wants to succeed, so let’s take a look at how these guys have dealt with those challenges. Keep reading for all the information.

Now, obviously, when checking a broker’s reliability, you will look for their licence. In order to avoid any potential Binatex scam, this is what you hope to find. On their website the company claims that it is in the process of being registered anew with CySEC. That makes sense, since the company in charge of transactions on this website is Binatexia Ltd, which is based in the city of Nicosia, on Cyprus. What is interesting to note is that the company that owns this broker (Yulanta Business from Seychelles) has displayed a legal opinion on the broker’s website which states that they adhere to all legal standards, and the same is stated for Binatexia. Therefore, they seem to have a legal proof that they are legit. But forget about the paperwork, what can you expect in practice?

Binatex Home Page

Is Binatex scam a real threat?

Things can always look good on paper, but they may turn out to be completely different in real life. If you have read our Binatex Review 2020, you know that there are some pretty interesting features on this website. However, we will stick to those that most important from the security aspect here. First of all, you will be protected by a layer of SSL encryption while trading and conducting business on this website. All legal information is readily available, plus our transactions always went through as expected. In other words, we experienced no withdrawal problems when trading here. In addition, maintaining contact with the broker was fairly simple, primarily because of the profiles they have on various social networks. It all points to the conclusion that there is no Binatex scam you have to worry about, but do stay for our final word.

Conclusion

In the end, we really can’t say we had any problems while trading with this broker. Our monetary transactions were smooth, and our data never got compromised. That being said, they are still waiting to get their CySEC license renewed. This will be a big boost for them, for sure. But even without that, you will want to consider giving them a chance, primarily because of their low financial requirements (more on that in our review). So, if you’re a casual trader, open an account here. This may very well be what you’ve been looking for.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

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    Free Trading Education!
    Free Demo Account!
    Perfect for Beginners!

  • Binomo
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    2 place in the ranking!

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