There are many things we can say about Binetrix broker, but none is good. Our preliminary research has shown that the brokerage operates without a trading license, onboarding residents all over the globe.
This detailed Binetrix review will show you how the scam was executed and what you can expect from the company. We’ve covered all aspects of trading fraud, so you can easily recognize it and avoid being a victim.
|Broker Status:||Offshore Scam Broker|
|Broker Regulation:||Unlicensed Forex Provider / No Regulation|
|Operating Status:||Active Forex Trading Scam|
|Blacklisted as a Scam by:||N/A|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Mobile Trading:||Not Available – only via web|
|Minimum Deposit:||1,000 EUR|
|Deposit Bonus:||Up to 100%|
|Crypto Trading:||Available – BTC, CRO, CAKE|
|CFD Trading:||Yes, you can trade CFDs|
|Trading Instruments:||Commodities, indices, shares, cryptocurrencies|
|Islamic Account:||Not Available|
|Demo Account:||No, only live trading accounts|
|Accepts US Clients:||US traders are accepted|
|Global Fraud Protection Team:||Don’t Invest in This Scam Broker!|
Is Binetrix a Scam Broker Without Regulation?
Binetrix is an anonymous trading firm that didn’t provide basic details about the official owner. If that’s not enough, we have an address in Saint Vincent and the Grenadines. This is a notorious hub for financial swindlers due to the lack of regulations. Namely, the FSA of SVG has declared itself unauthorized for Forex and CFD trading firms, indicating that those should get a license in the country of service.
Knowing that the brokerage operates worldwide, we’ve looked for Binetrix regulation in the registers of Australian ASIC, German BaFin, UK FCA, and more. Unsurprisingly, we found nothing.
To summarize, this trading fraudster provides financial services despite rules imposed by official monetary authorities such as ESMA and local regulators. If you have any issues, you cannot count on assistance from the Financial Ombudsman or other relevant institutions.
Binetrix is an unlicensed offshore scheme firm targeting inexperienced investors. While claiming it only connects brokers and traders, the company offers investment services without proper authorization.
Where Do Binetrix Scam Victims Live?
According to Binetrix complaints, the majority of defrauded customers come from the following countries:
Your report can help us pressure the authorities to issue an official warning and ban the Binetrix trading scam. If you have any experience with the said fraud, don’t hesitate to share it with us!
How Does This Scam Company Find Victims?
The scheme couldn’t be successful without the victims. That’s why Binetrix ensured to promote its services through fraudulent marketing campaigns placed via Google, Facebook, and Instagram.
Once an unsuspecting victim clicks on the ad, their details, such as phone and email, are transferred to the brokerage firm. Then, you can expect a number of unsolicited phone calls and promotions, each better than the previous. Broker employees will be persuasive and even aggressive in getting you onboard.
If you surrender to their story and pay the initial deposit, account managers can contact you via WhatsApp, Telegram, and similar apps. The goal is to convince you that you’re a unique customer and will get more signals and better treatment if you invest more.
Further, you can be approached through social media such as YouTube and LinkedIn. Since the latest is a business network, broker employees create fake profiles, pretending to be experienced financial advisers. That way, their story might even sound credible. But you should know better.
Binetrix Trading Reviews – Avoid This Scam Broker
We’ve searched for Binetrix reviews, checking out the overall impressions. On Trustpilot, the company has ten reviews, 80% of them being 1-star.
“The reviews say it all. You will never get your investment back. They manipulate the platform, and as soon as you want to withdraw, they ignore you or come up with childish reasons to say no. The whole site is a scam and has no legitimacy. Guess we all get had at some point? These guys are a complete shower! Stay away as you are also likely to be a victim of identity theft”– Trustpilot Customer
Other reviews look pretty much the same, with more clients explaining how these con artists took their funds and manipulated the platform to make it look like they lost everything.
Binetrix Trading Platform – Web-Based Software
We’ve tried reviewing the Binetrix trading platform, but sadly, we were unable to do so. Once we wanted to register an account, our application was denied. Presumably, the broker employees would try to contact us and convince us to deposit on the spot if we left our phone number.
However, the video on the website shows only web-based software that looks rather unimpressive. It’s a basic trading tool with pending orders, live TV, news, and alerts. Social trading, EAs, and other advanced features are missing.
Binetrix doesn’t offer access to any third-party trading platforms, such as MT4, MT5, or cTrader, which provide a higher level of safety.
Mobile Trading App – Can I Download It?
While the main page promises a mobile app, the company failed to deliver. The only way for Binetrix login from Android and iOS devices is through a web browser. This assumes that you registered an account, which we can’t do.
What Can I Trade With a Broker?
Based on the video of the platform we’re given, clients can trade the following CFDs:
- Cryptocurrencies – BNB, DAI, DASH
- Indices – Dow Jones, NASDAQ, NIKKEI225
- Commodities – gold, natural gas, oil
- Stocks vs. BTC and Stocks vs. USDT
Surprisingly enough, Forex assets are not a part of the offer.
Fees and Spreads
The Binetrix Account Types section says there are no brokerage fees on any accounts. Other trading terms, such as spread and leverage, are not even mentioned.
Since the firm is offshore and failed to provide us with a valid license, trading terms don’t matter much. It’s clear that the final idea is vanishing with your entire deposit.
Trading Accounts Types
We’re given a choice between 6 accounts, those being:
- Opening – 1,000 EUR
- Horizon – 5,000 EUR
- Heritage – 15,000 EUR
- Fortune – 50,000 EUR
- Great Fortune – 150,000 EUR
- Infinite – 300,000 EUR
As you can tell, Binetrix’s minimum deposit is incredibly high, with the firm demanding four times the industry average. The Opening account brings almost no perks, while each next has a fixed interest of 3-7%, more education, and support.
Negative Balance Protection
On its main page, broker Binetrix promises fund safety and dealing with a reliable trading firm. However, they failed to provide negative balance protection, a must-have tool with legitimate firms.
Negative balance protection ensures you cannot lose more than initially deposited and fall into debt towards the brokerage. Of course, this scammer wants nothing but to take more funds.
Is Binetrix Demo Account Available?
Since we can’t register an account, we can’t access the Binetrix Demo account either. The website doesn’t mention it, so we suspect that there is any.
Demo is a risk-free account, enabling you to test the platform. No wonder one scheme firm, such as the broker in question, didn’t bother to provide something free of charge.
How Do I Withdraw Money From Binetrix?
According to Binetrix’s Withdrawal Policy, the request should be sent through a personal cabinet on the trading platform. However, if you’ve received any bonuses, you won’t be able to submit a request before reaching the minimum trading volume.
In the event that you’ve paid off the bonus, you can use the following payment methods:
- Debit/credit card
- QIWI Wallet
Without access to the trading cabinet, we cannot confirm this.
Is Binetrix Deposit Bonus Available?
Binetrix bonus on the initial deposit is available up to 100%. However, there’s a malicious clause you should be aware of.
You cannot submit a withdrawal request unless you reach a minimum trading volume of 30x the deposit plus the bonus amount. If you wish to file a withdrawal request before reaching the said volume, you’ll have to pay up to 30% of the remaining trade volume ratio. All of this is within the timeframe specified by the broker employees.
I Was a Victim of the Binetrix Scam, Can I Get My Money Back?
If you find yourself a victim of the Binetrix scam, let us know. Global Fraud Protection has mechanisms to help you with fund recovery.
Our work has caused many troubles, and we received many threats. However, we won’t give up. We will continue to help financial fraud victims. If you’re one of them, share your story immediately!
Book a free consultation with our chargeback specialists, and let’s find a way to get your hard-earned money back!
All In All, Don’t Let the Scammers Get Away for Free!
Is Binetrix a Legit Broker, and Should I Invest In It?
Binetrix is not a legit broker. It’s an offshore financial swindler to avoid. If you are already involved with the firm, please allow us to help with the recovery procedure.
Does Binetrix Give a Welcome or Deposit Bonus?
Binetrix approves a deposit bonus of up to 100%, preventing clients from withdrawals before repaying the sum plus the deposit 30x.
Does Binetrix Offer a Demo Account?
Binetrix doesn’t offer a Demo account and the account registration link is broken.
Does Binetrix Have a Mobile Trading App?
Even though it promises a mobile app, Binetrix only offers a web-based trading platform.