Binarytrademax.com Review Is BINARYTRADEMAX Legit Or A Scam

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Binarytrademax.com Review: Is BINARYTRADEMAX Legit Or A Scam?

BINARYTRADEMAX Review: this is the name of an investment company that does not disclose its location. Is Binarytrademax.com a scam or is it safe? There are many fake investment companies in the market today. Ensure you read this review before investing your funds.

When reviewing a company, we first find out its location and check online with the commission regulating trade in the area. But for BINARYTRADEMAX there is no mention of a location. The closest we come to finding out this detail is an unclear Google map. This is not an oversight or honest mistake, rather a tactic common among scam brokers.

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Because they lack proper licensing and regulation, they withhold their location or address to sabotage plans of checking with the regulatory commission. We want readers to be aware of this tactic and not fall prey due to ignorance.

Advantages of BINARYTRADEMAX

BINARYTRADEMAX like the name insinuates claims to be a binary option trading company. They claim that their technology is “revolutionizing the financial services industry”. This is achieved by empowering millions across the globe to trade and invest in bitcoin and avoid the common intermediary costs.

It is common for Binary Options brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

They also mention that they have top security protocols, fast and instant withdrawals and simplicity. The simplicity is that all clients need to do is invest funds while the company trades it for them and give them profit.

BINARYTRADEMAX Trading Platform

We find no mention of the kind of trading platform offered by BINARYTRADEMAX but we advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

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Trading instruments offered to traders are likely to be cryptocurrencies as they are the only trading assets mentioned on the page. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverage offered to clients is not mention and while some may seem generous, it poses danger. High leverages can lead to huge loss of funds as well. Spreads are not disclosed on the EURUSD pairs.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on BINARYTRADEMAX

In order to make payments or withdrawals with this brokers, clients should use: Bank wire, Western Union, MoneyGram, Bitcoin. There is no mention of e-wallets and we it this discouraging.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is not disclosed. We are aware that the common average among brokers is $100 – $250 but brokers are advised to make this known on their website. Withdrawal fees are not disclosed and we prefer the broker to mention if they apply or not.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Trading Bonus and Profits

The company offers traders 3 types of investment plans and they all give profits weekly. One gives 30%, another 50% and there is a 90% profit plan. All these gains seem unrealistic as Binary options trading is very unpredictable and no one can be assured of making 90% of investments every week.

Is BINARYTRADEMAX Licensed?

No. We have explained in the beginning of this review how we check for the registration and licensing of companies. BINARYTRADEMAX does not allow us check this as it hides its location, thereby making us conclude that it is not a registered company. It is dangerous to invest in companies that are not under any authority as they may misappropriate people’s funds.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

There is no information on how interested clients are to contact the company or get in touch with the customer care representative.

Conclusion

We find no legit registration for BINARYTRADEMAX and this is discouraging. Many important details are left out and we do not advise traders to invest with this kind of shady company. If you have anything to add to this review, use the comment section.

COMPARE WITH A TRUSTED BROKER

Fortrade

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

Binarytrademax.com Review: Is BINARYTRADEMAX Legit Or A Scam?

After doing some research, we found out that a lot of investors are reporting BinaryTradeMax and writting bad reviews about it.
It seems like they are not happy about it and they warn others not to invest with them.

It’s always important to know what other investors are thinking about a company before investing with it and we can say that they are not saying good things about BinaryTradeMax.

What do regulators say about BinaryTradeMax ?

This is the most important thing you need to know about an investment company before using it. Is BinaryTradeMax regulated ? Is it an offshore company ?

Most investment company are unregulated or regulated by an offshore regulation authority which won’t help you in case of problem. Keep in mind that if an online company steal your funds, you won’t be able to complaint about it unless they are licensed by a serious regulator such as the CySEC (Cyprus Securities and Exchange Commission).

An unregulated company is clearly not authorized to operate in any regulated country and you should definitely not put any money into it.

BinaryTradeMax is an unregulated investment company owned by BTCTRADEMAX LTD and located at 66 Great Suffolk St, London SE1 0BL, UK.

They can be contacted by email to [email protected]

You should definitely avoid any unregulated or investment company and BinaryTradeMax is one of them.

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Binarytrademax Review – is it scam or safe?

Binarytrademax offers three investment plans with advertised weekly returns of between 30% and 90%, along with a 100% deposit bonus. And the say to be offering the best binary trading and crypto currency mining platform, which is supposed “to revolutionize the financial service industry by empowering millions across the globe to trade and invest in bitcoin immediately without costly intermediaries.”

Account type Min. deposit Max. leverage Spread s/ Payout
Standard Plan n/a n/a n/a
Gold Plan n/a n/a n/a
Platinum Plan n/a n/a n/a

And apart from a number of major crypt coins, among which Bitcoin, Ethereum, Bitcoin Cash, Litecoin,Stellar, Ripple, Litecoin, EOS, Tether and Binance Coin, Binarytrademax says to be offering forex pairs, bonds, commodities and indices as well.

As for their regulatory status Binarytrademax says to be based in the UK, but they do not have a legit license. On top of that their website is virtually anonymous, so if you are considering depositing any funds with them, be sure to read the following paragraphs.

Anonymous website, no license

Binarytrademax says to be owned and operated by BINARYTRADEMAX LTD, a company based and incorporated in the UK. And because every company offering financial services in the UK should be licensed and authorized by the local Financial Conduct Authority (FCA), we diligently checked the FCA registers. Unfortunately we were unable to find any trace of BINARYTRADEMAX LTD there.

What is worse, Binarytrademax does not bother to disclose any contact information – no address, not even a phone number, so basically what we are dealing here is a unregulated, anonymous website, with very limited credibility.

The general problem with all unregulated brokers is that they are completely unaccountable for the way they handle your money and quite too often are simply involved in scam.

With a properly regulated broker on the other hand your money will be safe. All brokers regulated by the FCA for example have to abide by a strict set of rules, among which to provide all clients with a negative balance protection, to keep their money in segregated, protected form creditors, trust account, to maintain at all times operational capital of no less than 730 000 EUR, to file regular reports, to allow external audits and to participate in a client compensation scheme, which basically will insure your trading account for up to 85 000 GBP. Here you may check our list of brokers, regulated in the UK:

Other disadvantages:

Market maker offering managed account

As we already mentioned Binarytrademax is offering investment plans with guaranteed returns, and we have a problem with that. First, as virtually all brokers in the industry Binarytrademax acts as a market maker, which basically means they make money, whenever you lose. So if a market maker like Binarytrademax offers to manage your funds with an investment plan, this is called a conflict of interest – they will simply have an incentive to lose your funds in their own pockets.

Binarytrademax offers trading bonuses and this is not something we like either. Bear in mind that all trading bonuses come with some strings attached, like for example a minimum trade volume requirement, which scammers usually use as an excuse to cancel your withdraw requests. It is not a surprise that trading bonuses are banned on most regulated markets like the European Union, including the UK for example.

No trading platform

That was very peculiar. When we proceeded with our registration it turned out Binarytrademax is not offering a trading platform at all – just a bunch of charts taken directly form TradingView. That, of course, Binarytrademax will tell you, is because their account managers will take care of everything. We already talked about, what it means a market maker to manage you account so we will not repeat ourselves.

In any case we miss the good old MetaTrader4 – a highly reliable platform with a set a of advanced charting tools and nearly a hundred integrated market indicators and customizabel trading robots with the help of which one can easily run algorithmic trading sessions. Here you may check our list of brokers, supporting MT4:

As we already discussed Binarytrademax in an anonymous website, which we strongly advise you to avoid. They offer managed accounts while obviously acting as market makers, without even bothering to offer a trading platform. Basically this is a recipe for a scam.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

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