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BINETRIX

BINETRIX | 2023-07-19 11:31

abstrak：BINETRIX is an unregulated product that offers a range of market instruments including cryptocurrencies, indices, commodities, and stocks. The lack of regulation raises concerns about the product's overall reliability. BINETRIX offers six different account types with varying interest rates but lacks transparency regarding leverage, spreads, and additional fees. The minimum deposit requirement is 1,000 EUR, and the broker provides two trading platforms: a web app and a mobile app. BINETRIX accepts clients from specific countries but has received highly negative reviews, with users expressing dissatisfaction, excessive fees, and a lack of regulatory licenses, indicating a lack of trustworthiness and reliability.

Aspect	Information
Registered Country/Area	Saint Vincent and the Grenadines
Founded Year	1-2 years
Company Name	BINETRIX
Regulation	Unregulated
Minimum Deposit	1,000 EUR
Maximum Leverage	Not specified
Spreads	Not specified
Trading Platforms	Mobile app, Web app
Tradable Assets	Cryptocurrencies, indices, commodities, stocks
Account Types	Opening, Horizon, Heritage, Fortune, Great Fortune, Infinite
Demo Account	Not specified
Islamic Account	Not specified
Customer Support	Email, Phone
Payment Methods	Not specified
Educational Tools	Educational center with over 60 videos

Overview of BINETRIX

BINETRIX is an unregulated product operating in the market, which raises concerns about its legitimacy and lack of oversight. Users should exercise caution and thoroughly research the product before engaging with it. BINETRIX offers a range of market instruments, including cryptocurrencies, indices, commodities, and stocks. However, the lack of information on leverage, spreads, and additional fees raises transparency concerns for potential investors. The minimum deposit required is 1,000 EUR, which is higher compared to regulated companies. BINETRIX provides two trading platforms, a mobile app, and a web app, but there is limited information about the platform's features. The company offers an educational center with videos on trading and investment topics. BINETRIX accepts clients from specific countries and provides customer support through email and a provided phone number. However, reviews on WikiFX are highly negative, citing excessive fees, lack of regulatory licenses, and a lack of trustworthiness and reliability as major concerns.

Pros and Cons

BINETRIX has several notable advantages and disadvantages. On the positive side, it allows trading of stocks paired with BTC, providing investors with an alternative method to invest in traditional stocks using cryptocurrencies. Additionally, BINETRIX offers trading in cryptocurrencies, giving users access to the digital currency market. The platform also enables trading of popular indices and commodities, allowing investors to diversify their portfolios. BINETRIX offers different account types with varying interest rates and no brokerage fees. Furthermore, it provides an educational center with videos to help users enhance their trading knowledge. On the downside, BINETRIX operates in an unregulated environment, which raises concerns about safety and oversight. The platform lacks transparency on important aspects such as leverage, spreads, and fees. It also requires a minimum deposit of 1,000 EUR, which may be higher compared to some regulated companies. Negative reviews and the absence of regulatory licenses contribute to the lack of trustworthiness associated with BINETRIX. The platform has limited customer support options, and there is no demo account available for users to practice trading. The main website being currently down raises concerns about its availability and reliability. Finally, withdrawals from BINETRIX can be questionable due to the lack of licensing.

Pros	Cons
Allows trading of stocks paired with BTC	Operates in an unregulated environment
Provides trading in cryptocurrencies	Lack of transparency on leverage, spreads, and fees
Allows trading of popular indices	Minimum deposit requirement of 1,000 EUR
Enables trading in commodities	Negative reviews and lack of trustworthiness
Offers different account types	Limited customer support options
Varying interest rates on different accounts	Lack of information on deposit and withdraw
No brokerage fees	No demo account available
Offers an educational center with videos	Main website currently down, raising concerns about availability and reliability
Provides mobile and web trading platforms	Withdrawals can be questionable due to the lack of licensing

Is BINETRIX Legit？

BINETRIX, a product currently available in the market, operates in an unregulated environment. This lack of regulation means that there are no established guidelines or oversight governing its use. The absence of clear standards and oversight may raise concerns regarding the product's safety, efficacy, and overall reliability. Users should exercise caution and thorough research before engaging with BINETRIX or any unregulated product or service.

Market Instruments

BINETRIX offers a range of market instruments to cater to the diverse needs of investors. These instruments include cryptocurrencies, indices, commodities, and stocks.

1. Cryptos: BINETRIX provides a variety of cryptocurrencies for trading, including BNB, ETH, and LTC. These cryptocurrencies offer investors the opportunity to participate in the digital currency market and potentially benefit from price fluctuations and market trends.

2. Indices: BINETRIX offers popular indices such as NASDAQ, DAX30, and FTSE100. These indices represent the performance of a specific group of stocks from various industries and regions. Investors can trade these indices to gain exposure to broader market trends and make informed investment decisions.

3. Commodities: BINETRIX allows trading in commodities like gold, oil, and platinum. Commodities are tangible goods that hold intrinsic value and are widely traded in global markets. By trading commodities, investors can diversify their portfolios and potentially take advantage of price movements in these valuable assets.

4. Stocks / BTC: BINETRIX enables trading of stocks paired with BTC (Bitcoin) and USDT (Tether). This means investors can buy and sell stocks using cryptocurrencies as the base currency. This feature provides an alternative method for investing in traditional stocks while leveraging the advantages of the cryptocurrency market.

Pros	Cons
Provides a variety of cryptocurrencies for trading	Limited types of instruments
Offers popular indices representing diverse industries and regions	Limited transparency on important aspects such as leverage, spreads, and fees
Allows trading in commodities, providing the opportunity for portfolio diversification	The main website currently down, raising concerns about availability and reliability
Enables trading of stocks paired with BTC and USDT, offering an alternative method for investing

Account Types

BINETRIX offers six different account types without any brokerage fees. The Opening account requires a minimum of 1,000 EUR to start. The Horizon account requires a minimum of 5,000 EUR, while the Heritage account requires a minimum of 15,000 EUR. For those with larger capital, the Fortune account has a minimum requirement of 50,000 EUR, the Great Fortune account requires 150,000 EUR, and the Infinite account requires a minimum of 300,000 EUR.

Across all account types, BINETRIX offers a notable feature of no brokerage fees. In terms of interest rates, the different account types offer varying rates. The Opening, Horizon, and Heritage accounts provide interest rates of 3%, 4%, and 5% respectively. The Fortune account type offers a slightly higher interest rate of 6%, while the Great Fortune account and Infinite account increases it to 7%.

Pros	Cons
Six different account types available	Minimum deposit requirements may be higher for some accounts
No brokerage fees	Lack of information on other potential fees
Varying interest rates on different account types	Demo account unavailable

Leverage & Spreads & Commissions

BINETRIX lacks information on leverage, spreads, and additional fees, which raises concerns about transparency and investor protection. Investors should exercise caution and seek detailed information before trading with this broker.

Minimum Deposit

BINETRIX requires a minimum deposit of 1,000 EUR, which is higher compared to the minimum deposits offered by some regulated companies that provide micro accounts for individuals to familiarize themselves with the trading process. It is worth noting that withdrawals from BINETRIX can be questionable due to the lack of licensing.

Trading Platforms

BINETRIX offers two trading platforms: a mobile app and a web app. The web-based platform is accessible on any device with a browser, allowing traders who prefer not to download applications to access their accounts. The mobile trading app, available for both iOS and Android devices, provides the same features as the web app but is limited to mobile phones. While the app requests permission to access phone storage for data storage purposes, it does not collect any other personal information from the device. The Binetrix.com mobile app is available for download to users in countries where the broker operates.

Pros	Cons
Accessible on any device with a browser	Limited to mobile phones (mobile app)
Mobile app available for both iOS and Android devices	No popular trading platforms provided such as MT4/5
No collection of personal information from the device	Availability limited to countries where the broker operates (mobile app)

Educational Resources

BINETRIX provides an educational center with over 60 videos, offering educational content on trading and investment topics.

Accepted Countries

BINETRIX accepts clients from several countries, including Spain, the Netherlands, Italy, Denmark, and the United Kingdom. These specific countries have been identified as locations where BINETRIX operates its trading services.

Customer Support

BINETRIX provides customer support primarily through email. Customers can reach out to the company's support team by sending an email to support@binetrix.com. Additionally, a phone number is provided for direct contact, with the company's phone number listed as +44 7868808958. However, there is no presence of BINETRIX on social media platforms such as Twitter, Facebook, Instagram, or YouTube. The company's physical address is Suite 334, Beachmont Business Centre, Kingstown, Saint Vincent and the Grenadines.

Reviews

Reviews of BINETRIX on WikiFX are highly negative. One reviewer expressed their strong dissatisfaction with the broker, stating that they were charged excessive fees regardless of their trading outcomes, resulting in a sense of being ripped off. They regretted their decision to choose BINETRIX and gave it zero stars and no recommendations. Another reviewer warned potential investors to stay away from BINETRIX, highlighting the absence of regulatory licenses and the risk of being scammed. The overall sentiment conveyed by the reviews is that BINETRIX is considered one of the worst brokers, lacking trustworthiness and reliability.

Conclusion

In conclusion, BINETRIX is an unregulated product that operates without established guidelines or oversight, which raises concerns about its safety, efficacy, and reliability. While it offers a range of market instruments, including cryptocurrencies, indices, commodities, and stocks, the lack of transparency regarding leverage, spreads, and additional fees is a drawback. The minimum deposit requirement of 1,000 EUR is relatively high compared to regulated companies offering micro accounts. The trading platforms include mobile and web-based, but the absence of social media presence and negative reviews regarding excessive fees and lack of regulatory licenses cast doubts on BINETRIX's trustworthiness and reliability. Potential users are advised to exercise caution and conduct thorough research before engaging with this unregulated product or service.