Is BinaryOnline a Scam

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Choice For Experienced Traders! 2nd place in the ranking!

One more step

Please complete the security check to access scambroker.com

Why do I have to complete a CAPTCHA?

Completing the CAPTCHA proves you are a human and gives you temporary access to the web property.

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Another way to prevent getting this page in the future is to use Privacy Pass. You may need to download version 2.0 now from the Chrome Web Store.

Cloudflare Ray ID: 57f4d1449f81759f • Your IP : 188.64.174.65 • Performance & security by Cloudflare

Is BinaryOnline a Scam?

Is BinaryOnline A Scam?

Given the fact that BinaryOnline is one of the newest binary options brokers on the market, it’s perfectly natural to be careful when approaching them. Unfortunately, scams are not unheard of in this business, so you should always take things slowly when opening a new trading account. Research everything thoroughly before you start investing. How? Well, that’s where our trading experts come in! They trade with brokers, so that you don’t have to risk your hard-earned money, and then report back with their impressions. Therefore, if you want to know is BinaryOnline a scam or not, you’re at the right place. Keep reading and see what we experienced when we started trading with this new company.

Is BinaryOnline a Scam? | Trading platform

Let’s start things off with the BinaryOnline Trading Platform. This is where you will be spending most of your time, so it seems like a good place to start our test. With over 100 different currencies, indices, commodities and stocks at your disposal, you should have no problems finding what interests you. The trading experience itself should be pretty good because all prices are regularly updated and we have had absolutely no issues with opening trades. This is thanks to the famous SpotOption software, a very reliable piece of engineering that makes sure no problems ever occur here. Indeed, it does the job exceptionally well and we firmly believe you will have no problems at all. However, we still have a way to go if we want to determine is BinaryOnline a scam, so stay with us.

BinaryOnline Trading Platform

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Choice For Experienced Traders! 2nd place in the ranking!

Is BinaryOnline a Scam? | Safe deposit methods

Of course, we have to take a look at this broker’s money transfer methods. This is where scams most commonly occur, meaning we can get a pretty good idea of is BinaryOnline a scam or not after we go through this part of our test. We went through BinaryOnline Minimum Deposit in a separate article, but of course you can use bank transfers to fund your account, but keep in mind that this method is a bit slower than the other ones because it may take up to 5 days for your money to finish its journey. If you want quicker transfer, you might want to use Visa and MasterCard credit (debit) cards or an e-Wallet (Neteller, cashU, Skrill, and others). You will be happy to know that the broker’s website is SSL certified and they also have a PCI certificate to further prove their reliability. Cookies are also there to help you have a better trading experience. Is BinaryOnline a scam after all this? The answer seems to be negative, but let’s explore some more.

BinaryOnline Deposit Page

Is BinaryOnline a Scam? | Identity verification and withdrawal

As is the case with all serious brokers, you will be asked to verify your identity before you are able to withdraw your funds, no matter which of the BinaryOnline Account Types you have. To do this, you will be asked to provide the broker with a copy of your ID, a proof of your address and a copy of the credit card you used to fund your account. Keep in mind that you will also be asked to fill out a so called Investment Testimony Form, a form that will require your handwritten signature at the bottom, so you will have to download it, fill it out and then send it back to the broker’s e-mail. Should you decide to withdraw via your e-Wallet, you will only be asked your e-mail, without any additional financial information. Finally, if you choose to withdraw via wire transfer, you can expect this process to last a few days because it takes some time to link your bank account with the trading account. From our own experience, all these methods function flawlessly and if you were to ask us is BinaryOnline a scam, we would have to say no.

Is BinaryOnline a Scam? | Support

Customer support is always an important part of the trading experience, and its quality can also tell us a lot about is BinaryOnline a scam or not. This is because scam brokers usually neglect support and are not able to answer your questions in sufficient detail. Fortunately, that is not the case here. First of all, there is a live chat application embedded in the website and you can also ask the broker to call you back whenever it suits you. In both cases, you will get thorough answers and a capable support team member on the other side ready to help you with whatever you need. Of course, you can also contact them via e-mail, but whichever method you choose, you will be very satisfied with how you’re treated here. At this point, discussing is BinaryOnline a scam seems pretty pointless, but there is one more thing we have to address.

Is BinaryOnline a Scam? | Education

It’s really nice to see when a broker goes the extra mile to help its clients learn and get used to their trading environment. They are especially dedicated to beginners, so if you don’t have a lot of experience in this business, this is one of the best places where you can learn about it. Everything is especially well designed in this section, and you can watch various educational videos or read a handy e-Book if you so desire. There are also signals to be discovered in this part of the website, but keep in mind that you will have to have an account before you can access them. Add to that a very detailed glossary, and you have everything you need to hone your trading skills. After this, there really shouldn’t be any doubt what you should answer when someone asks you is BinaryOnline a scam or not, but if you want more info, go and check out our BinaryOnline Review 2020.

BinaryOnline Trading Academy

Is BinaryOnline a Scam? | Conclusion

After this lengthy analysis, we believe there really isn’t any room for doubt anymore. The answer to the question “Is BinaryOnline a scam?” is a resounding no. Money transfers are completely reliable, the platform functions perfectly and the support team always do its best to help you. On top of that, you can access many useful educational features and further improve your skill. If you want a quality broker, this is absolutely it – do not hesitate!

BinaryOnline

Broker Name: BinaryOnline
Platform: BO, CFD, Bitcoin
Founded: 2020
Bonus: up to 75%
Return/Refund: 70-85% /0%
No. Of Assets: 150+
Regulated: No
Demo Account: No
Minimum Deposit: 250
US Traders: Not Accepted

BinaryOnline Review

BinaryOnline is a sketchy broker owned and operated by Zola Ltd. The address they offer on the website is Sofia 1000, ul. Pirotska No 2 fl. 4, Apt. office 12. Payment services are provided by Zolarex Ltd, located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960. They can be contacted by phone (+44 203 0260 222 – UK) or email: support(at)binaryonline.com. The brokerage is not regulated by any major financial authority.

Is BinaryOnline A Scam?

Unfortunately, BinaryOnline is not regulated and has a terrible reputation online, where a lot of people are complaining about failed withdrawals, high-pressure tactics, and misleading information. On top of that, this broker is associated with far too many scams robots and signal services for my comfort.

I don’t like calling this broker a Scam, but I also cannot recommend an unregulated brokerage that partners with scam robots and has tons of bad user reviews.

Editor’s Note – Why Doesn’t BinaryOnline Suck In 50 Words

Ahhh, stop tormenting me… I don’t know why they don’t suck. Not regulated, very bad reputation and collaborating with scam robots. What can I find that doesn’t suck about that? Yea ok, I’ll give it a shot: they offer a good platform. However, you are not doing business with the platform provider but with BinaryOnline so…

Why BinaryOnline Sucks In 50 Words

BinaryOnline is clearly in cahoots with the makers of a lot of autotrading robots because when you sign up with those “money-makers”, you are automatically directed to BinaryOnline. One such robot is HB Swiss and another is Nova App. So, does this broker suck? Yea, definitely.

Should I Open An Account With BinaryOnline?

If you got this far into this review, you can probably tell that I am not too fond of this brokerage. However, now it’s time to dig deeper and learn more about them: launched in 2020, BinaryOnline used to offer Binary Options but now only FX and CFDs. This is one of the most popular platforms, with good functionality and plenty of features but that doesn’t make the broker trustworthy.

There are plenty of educational resources on the website, including e-books and tutorial videos, but the more interesting feature is Traders TV, which delivers daily analytics in a video format is their daily analysis articles. You’ll get a brief market summary and a heads-up for the economic data that’s about to be released that day. I like that it’s updated daily (as it should) but the information contained is nothing to write home about.

Accounts with BinaryOnline start at 250 USD (Takeoff account) continue with 2,500 USD (Standard account) and for the last listed account (Premium), you will have to deposit between 10,000 USD and 49,999 USD. They also offer an Elite account but the exact deposit is not specified; I assume it has to be above 50 thousand bucks which is crazy, to say the least. Even depositing 250 bucks with this broker is crazy in my book, but what do I know… I’ve been writing broker reviews for “just” 6 years and spent only about a gazillion hours on brokers’ websites…

BinaryOnline Complaints

The internet is raging with complaints about BinaryOnline. The main issues are failed withdrawals (people can’t get their money back whether they’ve made a profit or not), the account managers are trading accounts into the ground and blame it on market volatility, and the usual pestering, never-ending phone calls – one user even said: “They call and email you till you feel totally haunted!”.

BinaryOnline Regulatory Warnings And Announcements

24/5/18: The UK Financial Conduct Authority issues warning against unregulated Zola Ltd doing business as Binaryonline.com. UK FCA Warning.

14/12/2020: The British Columbia Securities Commission warned that BinaryOnline is not registered to trade in, or advise on, securities or exchange contracts in British Columbia. The regulator also urged residents to exercise caution when dealing with unregistered firms. Source: BCSC Warning.

BinayOnline Bonus

Bonuses start at 25% for the lowest deposit ($250) and can go as high as 75% if you deposit between $10,000 and $49,999. Be careful when accepting a bonus because your money will be tied to the platform until you perform a turnover of 30 times the bonus amount plus the deposit. Please make sure you understand all bonus conditions before accepting one.

BinaryOnline Withdrawal

According to their T&Cs, withdrawals can be performed through credit cards, wire transfers, and e-wallet. The minimums are 100 (for cards), 500 (for wire transfers) and 100 account units (for e-wallets). Processing time takes up to 3 business days and 21 more days may pass until you see the funds in your account. Many fees apply and on top of that, you will need to perform at least 5 trades before they allow you to withdraw.

BinaryOnline Extras

You can trade CFDs with this brokerage but the way they describe this instrument makes me think it’s a hybrid between CFD and BO. Make sure you understand the way CFDs work on BinaryOnline before trading them. Another extra is TradeReplica, which is basically a copy trading feature.

Trading Bitcoin With BinaryOnline

Cryptocurrency trading is available but the selection of crypto assets is very limited. The crypto trading is CFDs so be warned, you are not buying and selling cryptocurrency on this platform just trading leveraged spot-positions.

BinaryOnline Ratings

User Friendliness 15/20

The website is only available in English, so they lose some friendliness points with non-English speakers. The explanation for CFDs confused me big time and the whole website is a gathering of buzzwords that are supposed to make me think about the huge profits I can make, not about risks. An Android mobile app is available but I couldn’t find one for iOS. Demo accounts are not available.

Number Of Assets And Expiry Times 14/20

Their asset basket is composed of 62 currency pairs, 17 stocks, 6 commodities, 3 indices and 2 cryptocurrencies (Bitcoin, and Ethereum). I couldn’t find all of these assets on the actual trading platform so it is unclear if all can be traded. The expiry times are varied, ranging from 60 seconds to end of day and Long Term.

Commissions, Support And Effective Return 15/20

There are quite a few fees and commissions at this brokerage: after 30 days without trading, the account will become inactive and BinaryOnline will deduct a 5% monthly fee, credit card withdrawals have a 25 USD fee plus another 10 USD processing fee and wire transfers incur a 50 USD fee. Please note that this is not a full list of fees, so please read carefully their Terms and Conditions.

Support is not so bad but the usual running around the bush did happen and some of my questions hit a wall of questions coming back from the rep. The effective return goes as high as 85% according to their homepage but real trading conditions may differ.

Deposit, Payment And Bonus 15/20

Deposits and withdrawals can be made via credit cards, wire transfers and e-wallet. They use singular, not plural so I assume they only allow transactions through one (1) e-wallet; however, they don’t specify which one. Minimum deposit is 250 and minimum withdrawal is 100 (or 450 if you use wire transfer). Withdrawals will usually go to the same source where they came from (if you deposited via CC, you will withdraw to CC). The bonus ranges from 25% to 75% and the turnover is 30 times.

Website Extras 12/20

TradeReplica is a feature that allows you to copy the trades of other clients (social trading or copy trading). However, the biggest extra is probably the huge amount of complaints against this brokerage and the fact that a lot of scam robots make you open an account with BinaryOnline.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Choice For Experienced Traders! 2nd place in the ranking!

Like this post? Please share to your friends:
Guide How To Become Binary Options Trader
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: