Binetrix Review: Signs That This Broker Is a Fraud
Binetrix strives to deliver quick trade undertakings and powerful technology. Nonetheless, it’s best to avoid their tools as fraudsters promise cutting-edge technologies and services without delivering anything.
Furthermore, bot trading puts an end to emotional interference with trade directions. However, it’s best to stay attentive and avoid buying faulty tools from scammers. This Binetrix review is here to help you find out more!
|Headquarters||St. Vincent & the Grenadines|
License and Safety of Funds at Binetrix
It looks like Binetrix is an SVG broker. The alleged location, the official one, discloses a local registration. Moreover, the legal records talk about the broker being lawfully registered there. Binetrix has all the indications of an ordinary St. Vincent and the Grenadines broker scam.
This remote Caribbean country does not have any forex regulator. It specifically does not regulate forex markets. Yet, paradoxically, this has led to an inrush of fake brokers over the last few years.
Anyhow, this broker is not authorized or regulated in St. Vincent and the Grenadines, nor is it regulated anywhere else. Binetrix is an investment scam.
Binetrix Trading Platform
A lack of efficient trading software is a confirmation that Binetrix cannot be trusted. This alleged broker has no trading software at all.
First, it never truly indicates that it offers a platform of any sort. Secondly, it is rather explicit with its details of an investment plans-offering company. Also, the “trading floor” section is full of useless third-party charts.
Choose regulated and legit brokers who support leading trading platforms such as MT4 or MT5. These have existed in the trading world for many years. The reasons are simple. These platforms are UI-friendly and deliver access to excellent charting tools and numerous different components.
Account Types Available at Binetrix
This broker includes six account types. These are as follows:
- Opening – €1,000
- Horizon – €5,000
- Heritage – €15,000
- Fortune – €50,000
- Great Fortune – €150,000
- Infinite – €300,000
Notably, Binetrix’s minimum deposit amount is extremely high. The company is requesting an amount four times the industry average.
Binetrix Bonuses and Promotions
There is a bonus on the initial deposit available up to 100%. Nevertheless, there’s a vicious clause to take into consideration.
You cannot withdraw your money unless you reach the lowest trading volume of 30x the deposit and the bonus amount. However, if you try to file a withdrawal request before reaching that volume, you will need to pay up to 30% of the remaining ratio.
Note: Trading is extremely risky. Even if you are dealing with a legitimate broker, your funds may be at risk.
Binetrix Deposit and Withdrawal
On their web page, they state that the available payment options are bank cards. The minimum deposit amount is €1000.
Apart from an account dormant fee of $25, applied to all accounts that have not been active in a year, there are no additional mentions of fees. However, traders should stay vigilant for this broker is a fraud.
You will find a few payment details as a whole. Remember that all your funds will be at risk.
How Does This Scam Operate?
Fake investment companies have various tactics to scam you. You will witness withdrawal issues almost always. Likewise, you will experience strange fees. Keep in mind that there are bogus high fees, regularly transcending 20%. Sometimes those will be called withdrawal processing fees.
Correspondingly, there’s basically always a profit fee. Phony websites want you to pay these fees in advance.
Likewise, there are irrational guaranteed returns. This is another famous deception method that you should be aware of. Fraudsters will always promise you huge guaranteed returns.
Remember that trading with leveraged instruments bears substantial risks. Any broker scam will try to convince you that your returns are guaranteed.
Please try to use brokers that have a license and are regulated. This is essential.
With this Binetrix review, we want to save as many people as possible from losing their funds. It’s critical to avoid deceitful brokers. Aside from having a bogus offshore address, this broker has a quirky minimum deposit requirement. In addition, there are no valid details about the trading platform.
It’s best to review all the companies before you invest your money. We do hope that this article has been useful after all.
FAQs About Binetrix Broker
Is my Money Safe with Binetrix?
No. This is a broker scam. Thus, it is advisable to keep your money far away from their website.
Does Binetrix Offer a Demo Account?
Binetrix doesn't offer a demo trading account and the account registration link is broken.
How Secure Is Binetrix?
This broker is not secure. It is entirely fake and you should not invest your hard-earned money here.