Score

1.34 /10
Danger

BinoTrader

Austria

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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Score

Regulatory Index0.00

Business Index5.71

Risk Management Index0.00

Software Index4.00

License Index0.00

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Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

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Warning: Low score, please stay away!
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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BinoTrader · Company summary

Note: BinoTrader' official website: https://binotrader.com/ is currently inaccessible normally.

BinoTrader Review Summary
Founded2018
Registered Country/RegionAustria
RegulationUnregulated
Market InstrumentsForex, stocks, and commodities
Demo Account
LeverageUp to 1:500
Spread/
Trading PlatformWeb-based platform
Min Deposit$1000
Customer SupportEmail: support@binotrader.co
Address: Rottalgasse 2, 8010 Graz

BinoTrader, founded in Austria in 2018, operates as web-based trading platform. However, it is not a legit and safe broker. It is not regulated and their website is not available. Besides, it does not provide a reliable trading platform like MT4.

BinoTrader

Pros and Cons

Pros Cons
NoneUnregulated
No reliable trading platform
Only accept cryptos funding
Inaccessible website

Is BinoTrader Legit?

BinoTrader is not regulated. Furthermore, as of now, their website is not accessible. Therefore, it is not a legit broker.

What Can I Trade on BinoTrader?

In BinoTrader, you would be allowed to trade only forex, stocks, and commodities.There's no ETFs trading or bonds trading.

Tradable Instruments Supported
Forex
Commodities
Stocks
Cryptocurrencies
ETFs
Bonds
Mutual Funds

Leverage

BinoTrader provides a leverage as high as 1:500. But we have to say while this can amplify profits, higher leverage also significantly increases risk.

Trading Platform

BinoTrader only offers a web-based trading platform. This platform is not necessarily bad, yet it is not particularly remarkable either. You can have access to some more fundamental tools and features, but don't anticipate any kind of more sophisticated functionality.

Trading Platform

Deposit and Withdrawal

BinoTrader only allows deposits in Bitcoin and Ethereum. Crypto transactions cannot be linked to a specific individual, only to a wallet address, which makes them highly anonymous. Besides, each crypto transaction is recorded in a ledger that cannot be altered and confirms all preceding and subsequent transactions. Therefore, this payment method is not safe!

User Reviews

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FX1592069555
more than one year
I purchased a lifetime account with BinoTrader on July 23, 2023, uncertain about their legitimacy. However, my skepticism grew when, despite engaging in approximately 70 days of trading, they abruptly terminated my account on October 3, 2023, citing it as a 30-day account. This move contradicted my initial purchase of an unlimited-time account. I am unsure whether BinoTrader is a scam, but if possible, I would rate them zero. The termination of my account after a brief period of active trading raises serious concerns about their business practices.
I purchased a lifetime account with BinoTrader on July 23, 2023, uncertain about their legitimacy. However, my skepticism grew when, despite engaging in approximately 70 days of trading, they abruptly terminated my account on October 3, 2023, citing it as a 30-day account. This move contradicted my initial purchase of an unlimited-time account. I am unsure whether BinoTrader is a scam, but if possible, I would rate them zero. The termination of my account after a brief period of active trading raises serious concerns about their business practices.
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2024-01-09 18:34
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空。格
more than one year
Frustrating! Their trading environment was not user-friendly and lacked good trading tools. The customer service was also unprofessional and unhelpful. I traded with them for less than a week and left due to their high spread. Happy that I have left it earlier and I won’t want you guys to use this broker as well.
Frustrating! Their trading environment was not user-friendly and lacked good trading tools. The customer service was also unprofessional and unhelpful. I traded with them for less than a week and left due to their high spread. Happy that I have left it earlier and I won’t want you guys to use this broker as well.
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2023-03-22 12:05
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