BinaryOnline Review Scam Complaint
BinaryOnline Review – An Introduction
BinaryOnline is a young binary options broker in the market. It’s always risky to invest with some unheard and new broker. Binary online operated without a broker license. BinaryOnline has founded in 2016 and its claim to be functional in more than 100 countries with around 200000 registered users. According to the website of the broker, the brand is owned and operated by Zola Ltd, a company which is based in Bulgaria that too doesn’t hold any brokerage operating license. Hence, it is recommended to go through this review before investing with this broker.
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About the BinaryOnline:
BinaryOnline is a binary options broker offering various financial assets trading, like, currency pairs, indices, commodities and cryptocurrencies. However, they don’t hold any license to provide these services. Their website is rich in content and they have mentioned each and everything on their website but the authenticity of the information is not clear. The broker offers its clients three types of accounts, Takeoff, Standard and Premium. Interestingly, the holders of Standard and Premium Accounts will be offered personal trading adviser by the broker. According to the trading conditions on the broker’s website, it offers Call/Put, Long term, 60 seconds, Ladder, One Touch, Pairs, Builder, Limits, Tradereplica as trading options.
Minimum initial deposits with this broker are $250 for Takeoff account, $2500 for Standard account and $10,000 for Premium account, which is a bit high for an unregulated broker. The minimum bet size required with this broker is $5 for 60 seconds and $25 for classic options, which is average for the industry. The payout amount provided by the broker for standard binary options is up to 81% on EUR/USD, while the returns for 60 second options are around 70%. Returns up to 81% are on the lower end of average. The trading platform is in house developed by the broker and is easy to use.
Is BinaryOnline legit or scam?
BinaryOnline is an offshore and unregulated broker. It is not authorized to provide the brokerage services and it lures clients by offering them attractive bonuses when hey deposit more money. We advise the traders to choose their binary broker very carefully as there are many scams out there, targeting mostly inexperienced traders, and most of these scammers are not regulated. BinaryOnline is one of them and there are many complaints against the broker regarding its false claims and withdrawal issues. Hence, it is a scam broker, keep your money safe from them.