BinaryOnline is a trading platform that focuses on offering forex, CFD, and binary options brokerage services. It was established in 2016 and runs under the management of Zola Ltd, which is based in Sofia. The broker can be reached through email or via phone. Traders who are interested in using this broker will have to start off with a real account since the firm does not provide a BinaryOnline demo account.
If you are the type of trader who likes to acquaint yourself with a broker through their demo account before you deposit some money, then this might not be the best firm for you. The broker uses the Panda Trading Platform and offers 4 trading tools including One Touch, High/Low, Hyper, and Range. Beginners are advised to use the One Touch tool since it is beginner friendly and is easier to understand.
The High/Low and Hyper tools are great once you gain some knowledge about trading. As for the Range tool, you will have to be a highly skilled trader with excellent analytical skills to make money off your trades. Based on this, it is certain that the broker has gone an extra mile to ensure there is something for both new and experienced traders. While this makes them a great broker, it is essential to consider their credibility before registering with them. This BinaryOnline Review seeks to will help you have a better understanding of the broker.
Find the best trading platform. You capital is at risk when trading. Be careful.
Is BinaryOnline A scam? Is BinaryOnline Regulated?
Binary options are among the most traded assets. As a result, finding a brokerage firm that offers binary options trading platform is quite easy. With the use of the internet and few referrals, you can find the perfect brokerage firm that suits your trading expectations. However, when looking for a broker, you should always be very cautious since there is a large number of untrustworthy platforms. These brokers take advantage of the hype created and growing interest that people have towards online trading, and are using it as a medium of scamming traders. In most instances, it is hard to tell a legit broker from a scammer. As a trader, it is your responsibility to take time to read reviews from other traders and review sites.
For instance, when you visit the BinaryOnline trading platform, it is difficult to tell whether it is authentic or not. Reason being, it is innovatively developed and it seems to incorporate every aspect that makes a trading platform a great one. As a result, you might register with them without questioning their credibility.
However, based on our research and trial of the broker, it came to our attention that the broker is not regulated and neither is it licensed. We also found so many complaints in regard to slow or failed withdrawals. According to the findings, and putting into consideration the numerous educational resources they have put in place to educate their customers, it is hard to ascertain the likelihood of BinaryOnline scam. Nevertheless, to protect yourself from any risks, it is better to consider CFD brokers that are fully licensed and regulated.
Alternatives to BinaryOnline
BinaryOnline is not regulated and it has a lot of complaints from their clients. Also, the number of scam robots linked to them is alarming. Due to this, you might want to consider other brokers that are regulated. There are plenty of trading options at your disposal. eToro, Plus500 and IQ Options are both much better options.