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Binatex review – Is it a scam or not? – Test of the broker
- Low minimum deposit amount of $ 10
- Fast trade execution
- Support mobile trading
- Multilanguage support
- The broker stopped working (no regulation)
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Last updated: October 22, 2022
Binatex is a well-known brand in a lot of different countries for trading with Binary Options. Traders can bet on rising or falling assets to gain a high profit. But is Binatex a really good broker for Binary Options? – We will find out in this test. As an experienced trader, I will show you exactly the facts about the company and how to trade. Is it really worth investing your money there? – Inform you on the following website.
What you will read in this Post
What is Binatex? The broker presented
Binatex is an international Broker for Binary Options which accepts any clients for their platform. The company is based at 1080 Cyprus, Nicosia, Demostheni Severi Avenue, 6th floor, office 601 and belongs to the Yulanta Business Ltd with registration number 191592 which is based in Seychelles. The company is officially registered and there is an official statement on the website. This is the first good sign for my test.
The broker was founded in 2017 and got a lot of attention for example in Eastern Europe through advertising and special sponsorships. At the moment Binatex is a sponsor of the UFC-Fighter Alex Volkov. With Binatex it can be very easy to invest in financial markets with betting contracts from the broker.
Facts about the company:
- Founded in 2017
- Huge brand because of sponsorships and advertisement
- Invest in financial markets with them
- More than 300.000 active traders
Is there a regulation or financial license?
If you do research about this topic you will find no official regulation of the company. It is an unregulated and unlicensed broker for Binary Options. Now there are advantages and disadvantages to this fact. I recommend trading carefully with unregulated brokers and withdrawals quickly of the profit. An advantage of this is that the broker accepts any clients and can give a huge bonus for trading.
Binatex guarantee that the client’s funds are managed in European banks and there is a secure SSL connection. In addition, the broker uses regulated deposit and withdrawal methods for the client’s money. In conclusion, an unregulated broker can be good as a regulated one but I recommend trading carefully and only investing a small amount of money. Also, do quick withdrawals of the profit.
Binatex is not regulated! You should trade carefully or use another broker.
Test of the conditions for Binatex traders
Binatex offers more than 50 different markets to trade. This can be forex, cryptocurrencies, stocks, or commodities. It is possible to do short-time investments like 60-second trades or invest in long-term trades where the time horizon is longer than 24 hours. Start trading with a minimum deposit of 10$. Also, the minimum investment amount per trade is 1$.
The yield depends on the asset and market situation. When the stock exchange is open there can be a profit of 80% or higher. From my experience, the average profit on this platform is between 70% and 80%. In addition, the execution of the trades is correct and there are no lags. Compared to other brokers Binatex shows a lot of options to trade with but it is not as good as IQ Option, Quotex, or Olymp Trade for example.
Facts about the conditions:
- Minimum deposit 10$
- Minimum trade investment 1$
- Free demo account
- More than 50 assets
- Average yield 70-80%
- Fast trade execution
- Short-term and long-term trades
(Risk warning: Your capital can be at risk)
Review of the Binatex trading platform
At the first glance, the trading platform of Binatex looks very impressive. You can clearly see where you are able to invest your money. The platform is available for your computer or smartphone. Download the app for android or apple devices.
For beginners and advanced traders, it is very easy to see how the trading on the platform is working. Also, there is a free demo account for practice trading available. You can watch some video tutorials in the education section or ask support for help.
Facts about the platform:
- Clear and user-friendly interface
- Easy to use for beginners
- Different tools for analysis
- Trading Signals
- Free contests
- Demo and live account in one platform
Do professional charting and analysis
Another point for a good Binary Options Broker is charting and analysis. You should be able to analyze the price movements professionally like an advanced trader. Binatex offers only charting and analysis tools for the live account. You can not use technical analysis in the demo account.
Another disadvantage is that the tools are not available directly on the trading platform. You have to open a new window on the chart. But I have to mention there are a lot of different options because the charting is hosted by tradingview.com. In conclusion, it is a little bit tricky but you should feel comfortable with it after a certain time of practice.
Facts about the charting and analysis:
- Only available in the live account
- Free indicators and tools for the technical analysis
- Charts hostet by tradingview.com
How to trade with Binatex?
How does it work to trade Binary Options? – In conclusion, it is very easy to invest money with a chance of a high profit and return. In the following section, I will show you exactly how it works.
Trading Binary Options is like betting on the price movements of a market. You can bet on rising (call) or falling (put) markets. First, choose your markets and make a forecast of the price movement. They choose a time horizon for the trade. After the expiry time is over the price has to be over or under your entry point in order to make a high profit of 70% – 80%. Otherwise, you will lose your betting amount.
How it works:
- Choose a market and do a forecast of the price movement
- Choose the right expiry time for your trade
- Invest in rising or falling markets
- The price has to be under or over your entry price
- Earn a high profit or lose your invest
Mobile Trading: You can trade on any device with the Binatex App
Mobile Trading is very important nowadays. People want to invest in their smartphones or other devices. Binatex offers a complete solution for it. You can download the app for your Android or Apple device for free. From my experience, the functions in the app are the same as in the desktop version.
Invest from everywhere with only a few clicks. I recommend having a good mobile connection otherwise there can be a problem with the trade execution. All in all the mobile app is necessary for a broker’s portfolio. Binatex knows that and gives you the solution for mobile investments.
Free and unlimited demo account for beginners
Binatex offers a free and unlimited demo account for beginners. Also, advanced traders can benefit from it. This is a full virtual account with simulated money. It is like trading with real money but without risk. Beginners can practice on the platform and develop their own strategies for trading. You just need your email address to open this account. It is very simple and done in less than 10 seconds.
How to open your real account:
In addition to that, if you signed up you can start directly with real money trades. The broker is unregulated which means you do not need a verification of your personal data and you can deposit and withdraw without it. The account is opened in less than 10 seconds. In the dashboard, you should fulfill the personal data section before you start investing.
Test of the deposit and withdrawal conditions of Binatex
The minimum deposit and withdrawal amount are only 10$. That means anyone is able to trade with Binatex. You can use for your transactions different methods which I will show you. Also, there are no fees for your transactions. The broker claims that the withdrawals are done within 24 hours. Deposits are credited instantly to your account through electronic methods.
Facts about the payment methods:
- Minimum deposit and withdrawal of 10$
- No fees for your transactions
- Get a free bonus
- Credit Cards
- Bitcoin
- E-Wallets (Advcash, PerfectMoney, Yandex Money)
- Internet Banking
Support and service for traders
Support and service are very rare on this broker. To contact the broker I only found the live chat and the email support but the support is working 24 hours 7 days per week. Sometimes it is quite difficult to contact the broker because a phone number is missing.
Furthermore, there are few educational video tutorials for beginners but nothing like live analysis or webinars. In conclusion, the support of Binatex is available in different languages but other brokers offer a really better service than this company.
Facts about the support:
- Available 24/7
- Only email and live chat
- Few educational videos
- Different languages
Conclusion: Is Binatex a scam or not? Yes, it is!
First of all, Binatex offers all that you need to trade successful Binary Options. You can invest in different markets and get a very fast execution on the platform. In addition, the broker looks very user-friendly and useful.
The biggest disadvantage of Binatex is that they go with no financial regulation and the support is not so good for their clients. For small investments, the broker can be good for making a fast and high profit but you should be careful because it is completely unregulated and now offline!
Disadvantages:
- Unregulated and unlicensed broker
- A small range of markets
- No professional support
- The website is offline
Advantages:
- Free demo account
- Userfriendly platform
- Trading 24/7
- Bonus program
- 10$ minimum deposit
Binatex got a very good and user-friendly platform but you should be careful because there is no financial regulation of the company. I would rather use a broker like Quotex.
(Risk warning: Your capital can be at risk)
Frequently asked questions (FAQs) about Binatex:
Is Binatex safe?
Based on our evaluation, we see a clear problem in the fact that Binatex is not regulated. We recommend being very careful or choosing a regulated broker.
What is Binatex?
Binatex is a well-known platform for binary options trading. Traders can bet on rising or falling values to make profits or to grow their capital.
Is Binatex legit?
Many traders report that Binatex is a legitimate platform. Nevertheless, you should be careful especially because of the lack of regulation. Choosing an unregulated broker can be dangerous especially when trading binary options.
What is Binatex trade?
A Binatex trade is a transaction placed on the Binatex platform. Whenever a binary option or forex, commodities, and stocks instrument is purchased, the trade is opened. The person can either make a profit or suffer a loss. This depends on if the market takes a right or different direction than originally anticipated.
Is Binatex fake?
It is difficult to judge whether Binatex is fake or not. For example, the fact that the platform is actively and willingly used by many people, offers a wide range of tradable assets and even provides an app, speaks against it being a fake.
But the circumstance that it is an unregulated platform and that there are traders who report bad experiences might speak for it.
How you want to classify the platform is up to you. On our website we will show you many alternative and regulated brokers where you are guaranteed to trade safely.
Is Binatex good?
We give the Binatex platform 2 out of 5 possible stars. The good point is that there is a free demo account and that there are many tradable assets. Bad is that the platform is unregulated and that it has only been on the market since 2017. Also, in our experience, the support is not that great as we would expect it to be, which is a disadvantage for traders who have invested a lot of money. There are many brokers that we can give a better rating due to the better user experience.