What is Binatex
Binatex is a binary options broker that was established in 2015 and is owned by Binatex Group of Companies. It offers trading on its own web platform and allows users to trade indices, currencies, commodities and shares.
Regulated by the FMRRC, Binatex has headquarters in Moscow, United Kingdom, Republic of Marshall Island and Scotland. Since the FMRRC a non-commercial organization, therefore, it is not regulated by any government or other major financial regulatory authorities.
The website offers information in 15 different languages and has only one certification.
How does it work?
Binatex claims to be a reliable partner for binary trading options and the platform has been designed to help traders earn profits on their transactions. According to Binatex, even your minimum investments can help you make money.
This is how you can start using Binatex;
After registering with your email you get access to a demo account that has a virtual value of $1000, which can be used to train for real-time trading. After getting a demo account you are all set to get a real account that requires a minimum deposit of $10. Deposits can be made by using an electronic payment method.
The official website has a “how it works” video that can help the new members understand how trading options work. Moreover, you can also find a “strategies” tab that contains all the trading information that you need to know to make maximum profits.
Some of the main features of Binatex include;
- Bonus - The website offers a 100% bonus to the investors however this bonus cannot be withdrawn unconditionally. Once the request for withdrawal is approved you need to have a turnover that is 25 times the value of your bonus.
- Assets - Like all other binary options traders, Binatex also has assets; however, they are not as many as featured by the competitors. The website has only 50 assets available for trading including 39 currency pairs, 2 commodities and 22 stocks.
- Tickers - This allows you to see and monitor the number of traders who are active on the platform. It also lets you track the number of open transactions.
- Withdrawal - The platform offers the withdrawal options, which requires the same method that was used to make the deposit.
- Mobile App - Users can also download the mobile app which allows them to access the platform on their cellular devices.
- Tutorials - Binatex offers tutorial videos that allow beginners to understand how binary options trading works.
- Trading Levels - Traders can go from level 1 to 10. You can better trading opportunities as your level increases.
- The platform offers tutorial videos.
- It has a demo account that allows the users to learn the trading tricks.
- The minimum deposit requirment is quite low.
- There is an absence of any major financial regulatory body.
- There are many conditions for withdrawals.
- Customer service may not be up to the mark and may not be available in real-time trading.
- The website needs to be more comprehensive and better organized.
Is Binatex a scam?
The platform has been around since 2015 but to this day, its authenticity has raised questions. User reviews are a mix of both satisfied customers and people who call it a scam. It is true the platform is relatively new and has a lot of room for improvement but it does seem to offer many useful features.
However, the absence of a major financial regulatory body creates doubts about the platform’s authenticity. Moreover, most users have complaints about the withdrawal system, which have not really been addressed by the broker.
Since the platform has been around for a few years now, therefore, it could be considered as an option; however, it is extremely important that you must try to get in touch with a trader who has not only used the platform but has successfully withdrawn funds. It is always a good advice to proceed with caution!