Binetrix Review – 5 Things To Watch About This Embarrassing Binetrix.com Scam
We can say that the broker offers a fancy and very attractive website. We will discover in this Binetrix review how this is all makeup.
The company operates from Saint Vincent and Grenadines. On their website, we couldn’t find any information about regulations. Therefore, we should be very careful with our funds here.
Binetrix allegedly offers contact through WhatsApp, Facebook and LinkedIn. Once you want to try those options it just gets you back to the regular contact form and it gives you a phone number from the UK.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Headquarters Country:||Saint Vincent and Grenadines|
|Supported Platforms:||Web-based trading platform|
|Minimum Deposit:||1.000 EUR|
|Cryptocurrencies:||YES – BTC, ADA, XRP|
|Types of Assets:||Commodities, Shares, Indices and Cryptocurrencies|
|Free Demo Account:||No. Only live trading.|
|Accepts US clients:||Yes|
Binetrix Is a Non-Regulated Fraudulent Broker?
Any company that doesn’t have a license has the potential to be fraudulent. The same stands for Binetrix.
Company chose SVG for its headquarters, knowing that this country doesn’t regulate Forex markets. Hence, unlicensed status.
Why It Is Better Not to Choose An Unlicensed Broker
Not having a license gives freedom to the company to create its own trading conditions. Most of the time it doesn’t go in favor of clients. That’s the most important benefit of having a license. There is an institution that is monitoring your work.
We would like to disclose, that not every license is a good one. We always recommend looking for companies that have Tier 1 Regulations. Those are trusted ones and you wouldn’t make mistake with those.
Such regulators are FCA, BaFin or ASIC. In none of these, we couldn’t find any trace of mentioning Binetrix.
Is Binetrix a Legit Broker Or A Fraud?
Binetrix is a definition of misleading. They trick you into leaving your information, contacting you and persuading you to invest your money. Nobody controls these con artists!
Binetrix Software – How Safe Is The Platform?
Unfortunately, we were not able to get access to their platform. What we found from their promotional video is that they offer a web-based trading platform. Which is, to be honest, quite mediocre.
Moreover, platforms like these could be used for manipulation. Data presented on the platform could be different from the real data on the market. Therefore, we suggest always looking for MT4/MT5 availability for better security.
Trader’s Reviews of Binetrix
We tried as well to look through other reviews of the company. On any forum we went to, we found mostly negative thoughts from people who were scammed by Binetrix.
At the moment of writing this article, there were 18 reviews on TrustPilot, one of the most relevant websites when it comes to user experiences. We saw 89% of the reviews were rated 1-star. That is more than enough for a conclusion.
Binetrix Range Investment Opportunities – Trading Instruments
According to their promotional video, they are offering instruments in 4 classes:
- Cryptos – BNB, ETH, LTC
- Indices – NASDAQ, DAX30, FTSE100
- Commodities – Gold, Oil, Platinum
- Stocks / BTC – Stocks / USDT
Where Does Binetrix Commit Fraud? – Countries Of Service
While doing Binetrix trading review, we established that they operate in countries like:
What Are The Different Binetrix Account Types?
The company offers 6 different account types without any brokerage fees.
- Opening – 1.000 EUR minimum
- Horizon – 5.000 EUR minimum
- Heritage – 15.000 EUR minimum
- Fortune – 50.000 EUR minimum
- Great Fortune – 150.000 EUR minimum
- Infinite – 300.000 EUR minimum
Interest on these accounts ranges from 3-7%. There are no other trading conditions specified. We can assume that their goal is just to disappear after they take enough from you.
Minimum Deposit and How Do I Withdraw?
The minimum deposit is higher than usual – 1.000 EUR. You just need to have in mind that some regulated companies offer micro accounts for you to check how it all works.
Withdrawals are questionable. Binetrix is not licensed and they require an additional confirmation from their side once you make a withdrawal request. Moreover, they can make up any reason why not to pay out.
This is where it gets more interesting. Binetrix offers up to a 100% bonus on your initial deposit. You need to be careful with that because you need to reach certain profits with that to be able to request a withdrawal.
Most scamming companies tell you that you need to make 20 or 30 times more to get profits. If you want to get money out before that you need to pay a fee which sometimes reaches up to 30% of the required capital missing.
How Much Is Leverage, Spreads and Fees
Binetrix broker doesn’t offer any leverage information, spreads or additional fees. Any licensed company needs to have specified conditions for trading. That’s how you know what you are doing and that you have protection.
One of the most important parts of trading is trading conditions. There is no logic to invest in assets when you are losing more than you are gaining.
Scammed by Binetrix Broker? – Allow Us to Hear Your Story.
We already saw so many stories about people losing money with Binetrix. If you were one of those, let us know your story. It can happen to anyone and don’t think there is no solution.
Our expert team can show you the first steps in getting your money back! Get in touch today!
What Is the Chargeback Procedure?
Chargeback is a process where a client disputes the transaction after paying with a Credit/Debit card. After the chargeback process is completed, the amount paid should be reversed on the card that was used.
Two entities can start this procedure. It can be initiated by the merchant itself or the cardholder.
If you need assistance, let us know!
What Is Binetrix?
Binetrix is an offshore unlicensed trading company. They are using a mediocre web-based trading platform that is mostly manipulated to trick clients.
Is Binetrix a Scam Broker?
Yes. Everything about this company is poor. From website, trading platform, ownership information and regulations.
Is Binetrix Available in the United States or UK the?
The company offers services only to the UK and other European countries, but not to US clients.
Does Binetrix Offer a Demo Account?
We were not able to find any information about the Demo account. They don’t allow you to get access to the platform before you register.