Binary Uno Review: Steer Clear Of This Infamous Platform

In the world of trading, a binary option is a type of options contract in which the payout depends entirely on the outcome of a yes/no proposition. Traders assume whether the price of a particular asset will rise above or fall below a specified amount.

As such, it is easy to comprehend and thus attractive to beginners. Binary Uno knows this, which is why it uses a cunning disguise to deceive users. Read our Binary Uno Review to learn more about this criminal scheme and why offshore platforms are risky.

Legal Info: Is BinaryUno Regulated?

Not only is Binary Uno unlicensed and unregulated, the platform is blacklisted all around the world. Four top regulators issued warnings against this anonymous website over the past few years.

Back in 2016, even before binary options trading was banned in Europe by the European Securities and Markets Authority (ESMA), the shady offshore firm was flagged as unauthorized by the Cyprus Securities and Exchange Commission (CySEC) and the Canadian Securities Administrators (CSA).

In the next two years, the UK’s Financial Conduct Authority (FCA) and the Australian Securities and Investment Commission (ASIC) also issued alerts to warn their local traders about a dangerous trading scheme. Hence, you should avoid Binary Uno and similar frauds such as RaceOption. 

You should stick to regulated brokers operating under the supervision of a reputable financial authority such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), CySEC (Cyprus), etc.

Who Are Binary Uno’s Targets?

According to godaddy.com/whois, the binaryuno.com website domain was created on August 13, 2014. Since then, the financial swindler has been targeting mainly unsuspecting traders who reside in the following countries:

• United Kingdom;
• Australia;
• Canada;
• Israel.

All these countries are heavily regulated in terms of the financial market. Three out of four regulators from the list have prohibited Binary Uno from operating under their jurisdictions.

The data from similarweb.com shows that the number of visits to the cyber hoodwinker’s website dropped from 1.3k in July to 835 in August but then rose back to 1.4k in September, which raises concerns. 

Trader Reviews – Sharing Experiences

Whichever trading forum we checked, we found mostly complaints against this broker. On trustpilot.com, there were 14 reviews with an average score of 2 (poor) at the time of this writing. 

One unfortunate victim said that “when I asked to make a bigger withdrawal they asked me to pay a large withdrawal fee of almost 40% my deposit…” More complaints against Binary Uno can be read on reviews.io. Remember that it’s illegal for a provider to ask clients to pay an upfront fee in order to be eligible to withdraw funds.

If you deposit money into this platform, you won’t be able to withdraw it. Please avoid trading on unregulated platforms and instead stick to licensed and transparent brokerage companies that provide safe trading conditions.     

Which Trading Platforms Are Available?

Binary Uno offers a web trading platform that supports trading assets such as Forex currency pairs and cryptocurrencies. 

We were unable to check out the online trading terminal because there was no demo account option. In general, web platforms are lackluster, ineffective, unpolished, and most often susceptible to manipulation, as was the case with UltraBrokerz.  

For that reason, you should stick to licensed providers that support recognized third-party trading software such as MetaTrader 4, MetaTrader 5, or cTrader if you want a true trading experience. 

Available Live Account Types

No Demo Account and Shady Bonus Clause

Despite the website advertising 5-10 risk-free trades, depending on the account type, there is no real demo account option. This is a problem if you have no trading experience.

Newbie traders shouldn’t be risking real money straight away and should practice with virtual funds first. Hence, all legitimate brokers nowadays offer a demo account.

Binary Uno also claims to award clients bonuses. However, there is a catch, i.e. an unfavorable bonus clause that stipulates that if you want to “withdraw your bonus you must first complete a turnover of bonus amount x30,” which is an insane amount.

Deposit and Withdrawal Process

Binary Uno listed three available payment methods that can be used for account funding:

• Credit/debit cards;
• Wire transfers;
• Bitcoin.

According to the website, the minimum deposit requirement is 250 USD even though the Micro Account costs 1,000 USD and the fee is 35 USD. Such discrepancies are inadmissible.

In case you deposited funds via MasterCard or VISA credit/debit cards, you can request a chargeback at the issuing bank within 540 days and reverse the transaction. Wire transfers can be reversed via a recall but this action can only work for transactions yet to be completed.

For Bitcoin payments, though, you will need to seek out professional assistance. We offer our expertise so be sure to contact us in case you need help.

Key Facts To Consider About Binary Uno

To sum up our review, Binary Uno is a fraudulent offshore platform that supports binary options trading. The crooked scammer mainly targets UK, Canadian, Australian, and Israeli traders.

This platform has been fagged as a shady trading scheme by several top regulators around the world – the FCA, ASIC, CSA, and CySEC. We do not recommend this platform because it is blacklisted. In case you’ve already deposited funds into your account, you must seek our professional help to recover your money!

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the chargeback process and assist you every step of the way.

Book your consultation with us today and start the chargeback process.

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