Binatex Review 2020

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Binatex

Broker Name: Binatex
Platform: Binatex
Founded: 2020
Bonus: 100%
Return/Refund: 75-85% / 0-15%
No. Of Assets: 30
Regulated: No
Demo Account: Yes
Minimum Deposit: 50
US Traders: Not Accepted

Binatex Review

Binatex is an unregulated binary options broker owned and operated by Yulanta Business Ltd, a company incorporated in Seychelles, with company number 191592.

Editor’s Note: Why Binatex Sucks In 50 Words

No regulation! Come on, why do we even have online brokers without regulation? And why would you trade with one? And since we’re talking about things that suck, take a look at how they butcher English. I get it, they are not native English speakers, but maybe they could, I don’t know… hire someone.

Why Binatex Doesn’t Suck In 50 Words

They almost force you to get a Demo first and only after that you can open a Real account. As part of the registration, you have to input your email and once you do so, you will be automatically given a 10,000 USD Demo account. You don’t need to give them your name, phone number or to deposit and even a fake email address will do. This is one of the easiest to get Demo trading accounts and that’s a great thing.

Is Binatex A Scam?

Binatex was launched in 2020, so they are not very green in this industry, but not a long-timer either. They are transparent regarding their owning and operating company, providing addresses and registration numbers and that’s always a good sign. However, Binatex is not regulated by a major financial authority so I can’t really vouch for their trustworthiness.

Should I Open An Account With Binatex?

Binatex uses a custom trading platform, which is pretty well built, easy to use and intuitive. There’s no download required, similar to all other web-based trading platforms and there are no commissions to open an account.

The website is lackluster and I couldn’t find all the information I needed without going through tons of Legal documents. The minimum deposit is 50 USD according to the Deposit procedure listed on their legal page and on the trading platform itself, but a live chat rep told me it’s 10 bucks. Anyway, 50 or 10 bucks, it still is a very, very low deposit (maybe that’s why this broker has such huge web traffic).

Education material lacks almost completely from the website but I could find some interesting training videos on the trading platform itself, as well as some signals, which will only become available once you open a real account.

Basically, this brokerage is built with the trading platform as a central focus, and not much fluff around it. Most of what you will find is right on the platform and apart from that, there’s not much info. I am not sure I like this approach very much but it’s definitely better than having pages of text praising a brokerage’s so-called achievements and status as the best in the world. The very low minimum deposit makes them appealing but the lack of proper regulation makes me have second thoughts.

Binatex registered address is Suit 1, Sound & Vision House, Francis Rachel str., Victoria, Mahe, Seychelles. They also list an address from Hungary: 1085, Budapest, District VIII, Stahly Street 13, 4th floor.

Transactions are managed by Binatexia Limited, a company incorporated in Cyprus under number HE368207. Their registered address is Demostheni Severi Avenue, 6th floor, office 601, Nicosia, Cyprus.

Binatex Complaints

Some people have complained that Binatex manipulates price on their platform and others have said they cannot withdraw after making a profit. We cannot verify these claims but to be honest, I am surprised by the relatively low number of complaints compared to the huge web traffic they have. Overall opinions are mixed, with both happy and unhappy customers.

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Binatex Regulatory Warnings And Announcements

03/10/2020: CYSEC has warned that Binatex and their owning company are not regulated by them and that investors should check the official CYSEC website before conducting business with brokers that claim to be regulated or in process of regulation. Read full warning here.

Binatex Bonus

Starting from a minimum deposit of 50 USD, you will be eligible to receive a 100% bonus but the sum cannot be withdrawn and instead it can be used for trading, as leverage. To withdraw your own money/profits, you will have to complete a turnover of 25 times the bonus amount.

Binatex Withdrawals

The minimum withdrawal is 10 USD and the processing time is up to 3 working days. From the limited information they give, I understand that withdrawals can be made through credit cards, Yandex Money and WebMoney but they don’t say anything about wire transfers. As a special method, they allow Bitcoin withdrawals but they don’t give any other information about the procedure.

Binatex Extras

There really isn’t much that can be considered an extra at Binatex. Most things are average or below average but if I have to mention something here, that would be their Signal service. However, just like about anything else, the service is poorly explained and I have doubts about its profitability.

Binatex Ratings

User Friendliness 16/20

Writing this review was difficult because information is hard to locate and their English is not exactly great, which certainly doesn’t help. I am sure this would be frustrating for anyone who lands on their page so they lose some user-friendliness points. The website is translated into 25 languages, they offer a Demo but I didn’t find mobile versions of their trading platform.

Number Of Assets And Expiry Time 16/20

Binatex offers binary options on a few currency pairs, a very limited number of stocks, Gold & Silver and something called CryptoIndex. It is totally unclear what this is, or if it’s a real index, so treat it as a high-risk product.

Overall, it’s a very thin basket that should be definitely expanded. At least in the past, they offered some cryptocurrencies but now all that’s left is this CryptoIndex. It’s possible that more assets become available when you deposit real money but we have no means of knowing if that’s the case. The expiry times are also very limited (1, 5, 15, 30, minutes, 1H, 4H and 24H) as well as the option types: just Up/Down.

Commissions, Support and Effective Return 17/20

There are no commissions to open an account or to deposit (which is normal for all brokers). I tried to contact support twice: the first time a rep joined the chat but wouldn’t talk to me and the second time a rep joined and answered my questions without much hassle. The effective return goes up to 90%, which is very good if it remains constant throughout the trading day.

Deposit, Payment And Bonus 17/20

Deposits can be made through credit cards, Neteller and Bitcoin. Withdrawals can be made through credit cards, Yandex Money, WebMoney and Bitcoin with a processing time of up to 3 working days. The bonus is 100% and can be awarded for minimum deposits of at least 50 USD; the turnover is 25 times the bonus.

Website Extras 13/20

Trading Tournaments, trading signals, and technical analysis are all available to users with Real accounts. This is nothing to write home about, but it will do.

Trusted Binatex Review and Test

Table of Contents

You want to open an account Binatex and you are searching for a trusted review and test of the trading platform? – Then you are completely right on this page. As experienced traders, we tested this platform in detail and give you in the next section accurate information about the broker. Should you invest your money there or not? – Find out in our review for traders.

Official website of Binatex

Binatex is a sponsor of Alex Volkov

Binatex is registered company

Review: (4 / 5)
Regulation: No
Location: Cyprus (EU)
Demo account: $10.000 free
Minimum deposit: $10
Assets: 50+ (Forex, Cryptocurrencies, Stocks, Commodities)
Yield: 70% – 90%+
Support: Phone, Chat, Email 24/5 multi-language
Special: Bonus program

(Risk warning: Your capital is at risk)

Introduction of Binatex

Binatex is an international broker for Binary Options. The company was founded in 2020 and accepts traders from everywhere. The main customers of Binatex are from Europe because the company is based in Cyprus. The Binatex Website is managed by the Binatexia LTD and the Yulanta business Ltd. On the website, we find the registration number of the company and the legal documents.

The focus of Binatex is it to create a perfect trading platform for Binary Options. On the Internet, there is a lot of scam around Binary Options and Binatex tries to change it with reliable software. In addition, the broker is a sponsor of the UFC fighter Alexander Volkov. The company is gaining more and more popularity. You can start trading with a free demo account or a small minimum deposit of $10.

Awards of the broker Binatex

Information about the Company:

  • Founded in 2020
  • Based in more than 3 countries (Cyprus, Europe, Seychelles)
  • Multi-awarded platform
  • Sponsor of the UFC fighter Alexander Volkov
  • Popular platform in Europe
  • The company tries to build the perfect trading platform

Trading on the Binatex platform explained:

In this section, we will give you a deeper look into the trading conditions for traders. When it comes to Binary Options trading there should be good software and a reliable broker as a partner when you want to trade successfully in the long run. Binatex offers a trading platform for desktop and mobile devices. You can trade Binary Options on different markets by selectable expiry time.

In the picture below you see a screenshot of the trading platform:

Screenshot of the Binatex Trading Platform

Binary Options is a risky financial product for investing in rising or falling prices. Traders can gain a fixed return of up to 90% with Binatex. There are only 2 options. You can win the fixed return or lose your investment amount. So you have to do the right forecast of the price movement. By trading Binary Options you will get an entry point (strike price) for your order. After a certain time horizon (expiry time) the price has to be above or under your strike level in order to win the fixed return.

Summary of the trading instrument Binary Options:

  • Invest in rising of falling markets
  • Get an entry point (strike price)
  • Limited profit and loss
  • Expiry time from 60 seconds up to 24 hours
  • Maximum return of investment 90%

Trading instruments and conditions

With Binatex you can trade forex, commodities, and stocks. There is a limited asset varierity compared to other brokers but in our opinion you should feel comfortable with it. There is a range from major and exotic currency pairs. The return of investment (yield) is between 70% and 90%. It is depending on the asset and market situation (time).

Overall, there are on average more than 3.000 online traders on the platform at the same time. Traders can start with a free $10.000 demo account or a small minimum deposit of only $10. With Binatex everyone can participate in the financial markets. Moreover, the minimum trade amount is $1.

Binatex Asset profitability

There are no hidden fees by trading Binary Options. You will not pay any commissions whether by trading or by depositing or withdrawing money on the platform. For depositing money you can activate a free 100% deposit bonus on the platform. This gives you additional money. From our experience, Binatex offers competitive trading conditions because of the stable return of investment and fast order execution on the platform. In the next section, we will show you how to trade.

(Risk warning: Your capital is at risk)

Trading tutorial: How to trade with Binatex

It is not difficult to learn to trade with the Binatex platform. All you need to know is how the financial product is working correctly. First of all, you have to do an analysis of the market. There are a lot of trading strategies on the internet which are working successfully. Also, Binatex is providing trading videos about the platform and trading strategies. You can educate yourself with Binatex.

Ordermask of the Binatex Platform

After you made a forecast of the price movement you can choose the amount for your investment. It is starting at only 1$. On the order mask, you will the potential payout (in this example above 90%+ = $190 payout). Next to the investment amount you choose the expiry time (time horizon) of the trade. If the time is over the trade is closed automatically and you will know if you made a win or a loss.

Now invest in rising (call) or falling (put) prices with one click. Your order will be opened directly and you will see your strike price. The market is always moving. If the price is above or below your strike price (entry point) you will make your profit after the expiry time. The forecast of the market has to be correct to make the return of investment.

How to trade with Binatex:

  1. Make an analysis and forecast of the market
  2. Choose your investment amount
  3. Choose the expiry time of the trade (60 seconds up to 24 hours)
  4. Invest in rising or falling prices
  5. Wait till the option is finished
  6. Accept the win or loss of the trade

From our experience, the execution of trades is fast and reliable with Binatex

Should you open an account with Binatex?

Binatex is a legal company but it is not a regulated one. From our research, the broker is working on financial regulation in Europe and internationally. When the final regulation will come we do not know. Another sign of reliability is the sponsorship of Alex Volkov. In addition, we can see advertising spots of the company in some tv-shows.

You should try the broker by yourself. Because it is an unregulated broker we recommend to do a fast withdrawal of your profits. Moreover, you can start with a very small amount of money. From our experience, the broker is not cheating on its clients. For a good trading experience, you should verify your trading account which we discuss in the next section.

How to open your account:

It is very easy to open an account with Binatex. You just need your email address and you can start trading. Because it is an unregulated Binary Options broker you can start trading without verification of your account. We strongly recommend fulfilling the account profile correctly. The broker can require some personal documents after you deposited real money or want to make a withdrawal. But overall, there should be no problem for you to open an account. The broker is accepting traders from everywhere except the United States.

Open your account with Binatex

Open your account in a few steps:

  1. Open the account with just an email address or social media profile
  2. Start trading without verification
  3. Traders accepted from everywhere except the United States
  4. You get direct access to the platform and demo account with $10.000

(Risk warning: Your capital is at risk)

Free demo account for beginners

If you are new to trading or the Binatex platform you should try the free demo account for trading. It is a practice account with virtual money. You can try out the platform for free and without any risk by using the demo account. If you made a loss it is possible to deposit virtual money on the demo account. It is an unlimited and free account for every trader. Just change with one click between real money and demo account trading.

Binatex demo account

Review of the deposit and withdraw money methods:

As mentioned before you can start with a minimum deposit of only $10. In this section, we will review the payment methods and conditions for money transactions. Binatex offers more than 10 different payment methods for the deposit and withdrawal. Sometimes the payment method is depending on your country of residence.

Traders can use credit cards, cryptocurrencies, and electronic wallets like Yandex, Webmoney, VLoad for their transactions. Surprisingly there are no fees for depositing and withdrawing money on the platform. The broker says that withdrawals are made within 24 hours on working days. The money is managed in European banks.

Binatex payment transactions

Overall, it is very easy to deposit funds on the Binatex platform. If you want you can accept a free bonus of up to 100%. Binatex always offers special bonus codes or events for the traders.

Facts about the Binatex payments:

  • No fees for depositing and withdrawing money
  • Credit Cards, cryptocurrencies, electronic wallets
  • Free bonus
  • Minimum deposit of $10
  • Fast withdrawal

Support for traders:

There is multi-language support which is working 24 hours per week but sometimes the support is offline for some hours. There is a phone, email, and chat support. In addition, the page is translated into more than 20 different languages.

The service is not at its best compared to other brokers. There are only a few educational videos and sometimes the support is working very slow. That is why we can not give Binatex a full star review.

Support: Active: Phone: Email:
Phone, Chat, Email 24/7 8 (800) 333-20-67 [email protected]

Conclusion of the review: Binatex can be a legit broker

Overall, Binatex is a typical offshore broker at the moment. There is no regulation that brings the advantage that you can trade without verification and open the trading account very fast. There are more than 50 different assets to trade by starting with only $10 or the free demo account.

Traders can profit from a high return of investment up to 90%+ and the free bonus program. From our experience, the platform works correctly but the broker could improve the platform by some features. Another advantage is that there are no hidden fees for traders.

Binatex is a legal company but there is no official regulation. So be careful with big investments we only tested the platform with a very small deposit which worked well for us.

Binatex offers to trade with small amounts of money for every trader but it is not the best platform. (4 / 5)

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