First of all, Binatex has its offices in Cyprus and yet it’s not regulated by CySEC. CySEC is the financial regulatory body of Cyprus. In addition to this, the parent firm Binatex Limited is registered in Seychelles and there is an branch in Budapest. More intriguing is the fact that even though there is no branch of the broker in Russia, it is regulated by the FMRRC of Russia. The firm further provides a Russian phone number for support purposes.
Binatex promises its customers very high rate of returns (payouts) of between 60% and 90%. Getting started seems easy because once you fill in your personal details, you are directed to the demo account. The platform offers a number of Forex pairs, commodities, stocks and even cryptocurrencies. Besides Bitcoin, the altcoins included in the platform are Ethereum and Litecoin. Trading signals can be found on the left side of the software screen. Many traders are not aware that in order to withdraw their money, a trading volume of at least 25 times the bonus amount must be reached. In order to be allowed to operate a demo account, a trader is required to deposit $10. This doesn’t really make the demo account free after all.
When it comes to opening an account with Binatex, the first step is signing up. A trader is required to provide personal details in the sign-up form provided. The second step is making a minimum deposit of $250. Trading is the last step which involves a trader picking assets, cryptocurrencies, and forex pairs to trade.
Trading instruments and conditions
With Binatex you can trade forex, commodities, and stocks. There is a limited asset varierity compared to other brokers but in our opinion you should feel comfortable with it. There is a range from major and exotic currency pairs. The return of investment (yield) is between 70% and 90%. It is depending on the asset and market situation (time).
Overall, there are on average more than 3.000 online traders on the platform at the same time. Traders can start with a free $10.000 demo account or a small minimum deposit of only $10. With Binatex everyone can participate in the financial markets. Moreover, the minimum trade amount is $1.
There are no hidden fees by trading Binary Options. You will not pay any commissions whether by trading or by depositing or withdrawing money on the platform. For depositing money you can activate a free 100% deposit bonus on the platform. This gives you additional money. From our experience, Binatex offers competitive trading conditions because of the stable return of investment and fast order execution on the platform. In the next section, we will show you how to trade.
Review of the deposit and withdraw money methods
As mentioned before you can start with a minimum deposit of only $10. In this section, we will review the payment methods and conditions for money transactions. Binatex offers more than 10 different payment methods for the deposit and withdrawal. Sometimes the payment method is depending on your country of residence.
Traders can use credit cards, cryptocurrencies, and electronic wallets like Yandex, Webmoney, VLoad for their transactions. Surprisingly there are no fees for depositing and withdrawing money on the platform. The broker says that withdrawals are made within 24 hours on working days. The money is managed in European banks.
Binatex team preferred a road less traveled and did not use existing, ready-made solutions, but developed an in-house trading platform. Using a special informer in real-time mode, you can monitor the number of active traders and open transactions. It is possible to open new tabs with chart windows, while the charts themselves can be rendered either in linear or candle format. Price quotations are provided by Bloomberg, so there is no need to worry about market data being inaccurate or falsified. It should also be noted that there are specialized sections with trading signals, economic calendar, training videos and rating of the best traders at the bottom of the platform’s screen. These elements can be removed or added according to the trader’s preferences.
As for the types of options contracts, there is no variety at the moment, as only one format available is the classic “Up/Down”, with possible expiration periods ranging from one minute to 24 hours.
The broker has prepared a worthy training base for both beginners and professionals. The relevant section on Binatex website contains dozens of articles and video lessons on various topics concerning technical and fundamental analysis. For example, the company’s experts show how to distinguish between different chart patterns, use indicators, and analyze one’s trading process. Traders can unlock more and more in-depth and information-rich materials as their trading volume increases, based on the point-system mentioned above.
By registering for Binatex login, you can not doubt that no one is using the financial resources of users of the company for fraudulent purposes. The broker has an official certificate of the center for regulating relations in financial markets (it is legally recognized in many countries of the world as an international regulator of online brokers), and Binatex has several offices in different corners of our planet.
Another convincing proof of the security and reliability of the broker in question is the fact that in less than two years of the company’s work, it received 6 prestigious international awards that are not given to services with a dubious reputation. In parallel with this, it should be noted that to protect the financial investments of customers, the company opens deposits with the European Bank.
Opening a Demo or Real Account on Binatex
One of the things I did like about Binatex is that it is ridiculously easy to get started. Just click on the blue button in the upper right-hand corner of the page which says “Start Earning,” and fill in your email address. You are not asked for any further information at this point. Once you put in your address, you will automatically be taken to the trade page, and a demo account will be opened on your behalf. You can start demo testing immediately without depositing any money. There are no hoops to jump through. It is wonderfully simple. Your password is emailed to you.
At this point, if you so choose, you may upgrade to a real account (just click in the upper right-hand corner of the trade page on the blue “Real Account” button to do this). You will be asked for you email address again. Once again, your password will be sent to your email address. You then need to input your phone number. You now have a real account, and can click in the upper right on the blue “Deposit Funds” button to make your first deposit.
Trading on the Binatex Proprietary Platform
The Binatex trading platform is proprietary, rather than being a white label product like SpotOption. It is elegant, straightforward, and easy to use. On the left at the top, you will see a chart for the asset which is open. You can select other currencies or stocks from the dropdown (there are no indices or commodities).
On the right is the trade ticket where you can put in an amount (anything from $1 to $1,000), and select an expiry time (anything from 1 minute up to 4 hours). You can then pick “High” or “Low” (the only trade type offered). The payout can be viewed below that. Across the bottom of the trade page are several more features. On the far left you can view trading signals or watch training videos. In the center of the page you can view the tournaments which are currently running. Your trade history and open positions are displayed on the far right. The selection of training videos as well as the articles on the site actually seems to be pretty good. These materials do not just introduce you to the basics, they actually go into real strategies which you can use to profit.
Deposits and Withdrawals
To open a demo account with Binatex, it is sufficient to enter one’s e-mail in the corresponding form on the official website, which will grant access to a personal 1000 USD virtual trading environment with real-time quotes. It is sufficient to make a deposit of at least 10 USD / 10 EUR for a real account with full access to all platform features. Deposits can be made using Visa, MasterCard or various electronic payment systems. As mentioned earlier, clients are eligible for a first-deposit bonus of up to 100% of the deposited amount.
It is worth keeping in mind that withdrawals at Binatex are made to the same payment medium as the deposit. Applications are processed within 1-3 working days on a first-come, first-served basis. There is an upper limit to the number of withdrawal applications per month, depending on one’s trader level (see above); this information can be found inside one’s personal account on the platform.
Since Binatex is a regulated broker, it requires sending copies of identity documents for security and anti-money laundering purposes before being able to deposit or withdraw funds; in case of issues with this process you can always contact your assigned personal manager.
Binatex trading apk content rating is Everyone and can be downloaded and installed on android devices supporting 19 api and above.
Binatex has one of the best trading platforms on the market, that’s why we’ve decided to expand your trading opportunities by creating the mobile app. The mobile trading gives you a chance to combine trading with your daily routine as people of the present don’t have much time in the everyday life. Binatex takes care of the convenience, comfort and security of its users. Feel it with Binatex app.
– The best conditions for transaction opening;
– Great and attractive features;
– 24/7 Support;
– Educational section, including videos and articles;
– Demo account (unlimited trading practice);
– Wide range of currency pairs and assets;
– The intuitive, neat, stable, fast and user-friendly platform, personally designed by Binatex;
– The loyalty system;
– The sign up process is simple and understandable;
– Fast funds transfer to the user;
– VIP conditions are available for every trader;
– Quotations from the world’s leading provider.
Is Binatex a Scam?
According to the broker, it is free to sign up. But before traders can invest on assets, they have to make a deposit. The minimum amount required by Binatex is $250.
Binatex is possibly a scam and we have many reasons to make this claim. The first reason is that they are not a regulated broker. The second is that there is hardly any information available about this broker or its company on the internet. The address they have mentioned on their website cannot be verified.
Another red flag is that their terms and conditions are quite vague. They haven’t mentioned anything about their withdrawal and bonus policy. Usually, brokers must outline their terms and policies in a separate section on their website to help traders understand what is required of them. But, it seems like this broker has a lot to hide.
Moreover, complaints about them are plentiful and the broker has taken no initiative to resolve the issues faced by its members. Most of these complaints are related to withdrawals. Traders claim that there are not able to withdraw their earnings after they submit withdrawal requests. Their withdrawals are automatically declined and the broker doesn’t even provide valid explanation for it. So the conclusion we can reach about their legitimacy is that they are not legit and therefore not a safe broker.