Binary Book Review – Main Features, Disadvantages and Risks
For a company that was doing services that are banned in Europe, that’s already shocking. Not to mention if the company is doing that without proper authorization.
So, all the fears that you have, we need to unlock it. But after reading this Binary Book review, you’ll be ready to face them.
|Name:||Tech SB Ltd|
|Warnings from Financial Regulators:||Yes, CFTC, BCSC|
|Contact info:||Data is hidden|
|Trading platforms:||Proprietary web-based platform|
|The majority of clients are from:||United States, India, Australia, United Kingdom, Israel|
Regulation and Funds Protection Measures
Primarily, the company was registered in the UK under the name WSB Investments Ltd. A couple of years after, the company merged with Tech SB in Bulgaria. Quite a downgrade if you like. In any case, none of the companies were regulated. Neither by the FCA (UK) or FSC (Bulgaria).
Not to mention that the company doesn’t have any other Tier 1 license. Such as BaFin, ASIC or CFTC. Instead, a few North American institutions slapped the company with a warning. In the first place, CFTC (US) but also BCSC (Canada).
Another key fact that exposes Binary Book scam is their reviews. If you look at Sitejabber, you can find almost 90 out of 157 comments with negative ratings. In fact, Trustpilot’s comments are even worse with 100% negative ones. In conclusion, they are mainly targeting victims from:
- United States
- United Kingdom
One of the leading problems was withdrawal and Binary Book account freeze. But if you read our Next Step Funded review, you will get tips on how to avoid these.
Trading Platforms Available
Generally speaking, none of the web-based platforms look reliable. Especially with unregulated companies like Binary Book broker. They even offered automated trading tools, but those were just throwing your money into the fire.
Instead, you should learn how to trade yourself and invest with a licensed broker. Yet, these educations may take years. But if you are using an AI Analysis bot, you can be ahead of the game. The whole point is to get the right advice at the right time. Luckily, this bot is using historical and live data combined, to predict the price movement. In general, it’s way more usable in regular day trading instead of binary.
Overall, tradeable instruments are quite solid. Yet without regulations and shady software included, you can’t expect much of a success. Anyway, some of the options are;
- Forex EUR/USD, GBP/JPY
- Commodities cotton, palladium
- Indices DAX30, FTSE100
- Shares Microsoft, IBM
The problem is that with a web-based platform, data about these instruments can be easily manipulated. Therefore, it might appear like you are winning for a while. But when the company decides it’s enough, you can lose everything. Of course, they will blame you.
Trading Conditions & Account Types
In fact, binary options don’t have some sort of specified conditions. Either you win or lose. You double the money or you lose everything. But of course, the company offers a wide range of account types. Yet, none with some significant benefits. Anyway, the options are:
- Micro $250
- Basic $500
- Gold $5.000
- Platinum $10.000
- VIP $50.000
Keep in mind that with regulated brokers you can even get a demo account. But also a real micro account with a $10 minimum deposit requirement. Those are just a few of the benefits you can find. Above all, we suggest you read our The4ers review for more clarity about the benefits of regular trading and AI Analysis bot.
On the positive side, binarybook.com was using attractive trading methods and options. Such as:
- Regular binary
- Pairs trading
- Long term
- 60 seconds
- One touch
Yet, without proper authorization to provide services, everything becomes useless. Instead, we strongly recommend you work with Tier 1 licensed brokerages. Firstly, you can enjoy maximum protection. Secondly, you can even get compensation if the company vanishes like Binary Book.
Is It Hard To Get a Withdrawal?
Withdrawals are practically science fiction with this scam company. That was their goal from the beginning. But until customers realize they are being scammed it becomes too late. As you can see, many traders complained about poor customer support and non-existent fees.
In general, all the standard tricks scammers are using. To understand how proper withdrawals should be made, read our My Funded FX review. Be aware that swindlers will often use fake policies to make withdrawals even less possible. Some of the most known tricks are verification issues, AML laws and non-existent taxes.
Is It Possible to Make Money By Online Trading?
If it’s not there wouldn’t be that many companies out there. Especially regulated ones. But those are the ones that make this business still amazing. The key to finding your success in trading is in the knowledge and strategies. Yet it can take decades for a person to learn everything. And still, they will be learning every day.
If you are tired of scammers luring your money and listening to every so-called broker, you are at the right place. Our innovative AI Analysis Bot is there to chew up all the knowledge for you and give you the finalized product. Be in charge of your trades from today! Get in touch with us and book your free consultation!
Is Binary Book Legit?
Binary Book company is far from legitimate. Otherwise, the company wouldn’t have warnings from trusted institutions like CFTC and BCSC.
How Can I Delete My Account in Binary Book?
You can only do that through their customer support. But even then you can expect persuasions to continue trading.
Can I Withdraw My Funds From Binarybook.Com?
To sum it up, no. Withdrawals were the last option for this brokerage as long as they managed to manipulate their customers to trade or invest more money.