Looking to read BinaXBT reviews, you are in the right place. Is BinaXBT a scam or legit broker? Read reviews to know about this forex broker.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is BinaXBT.com?
BinaXBT is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
BinaXBT com has not revealed any contact information about itself or its alleged registration address. The absence of any credible data about this company’s identity is quite worrisome to be honest, as we don’t actually know who stays behind it.
But the Comisión Nacional del Mercado de Valores (CNMV) explicitly warns that BinaXBT.com is an unauthorized entity providing financial services.
It is always advisable you check for regulated and licensed entity on financial authorities websites before depositing fund for trading.
BinaXBT Minimum Deposit for Traders
BinaXBT specifies its minimum deposit $500 based on the account type. For that much, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
BinaXBT deposit says it accepts cryptocurrency payments and does not offer any alternative payment methods for their services.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
BinaXBT offers a web trading software. The platform comes with some basic tools and custom indicators but nothing more advanced.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an illegitimate forex broker like this one because you stand the chance of losing your money.
BinaXBT.com Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that BinaXBT.com is not a licensed investment company. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
BinaXBT com has disguised like a reliable trading investment platform, however, you should not take the words they say and the attractive website layout. While there is a clear evidence this cryptocurrencies company is questionable, it is always important traders steer clear from an unlicensed platform as its likely run by scammers.
Please share with us your experience in the comment section below. Thank you!
Last Updated on August 17, 2023 by Danny