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BinaryOnline Review - Is it scam or safe?

BinaryOnline Review - is binaryonline.com scam or good binary options broker?

RATING: 1.6 / 3 REVIEWS
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Basic Information

 

Minimum deposit Min./Max, bet size Payout % Welcome Bonus Trading platform
  $5 / $5 000 Up to 81% From 25% to 75% Web-based

 

BinaryOnline is a binary options broker, offering trading in currency pairs, commodities, indices, and cryptocurrencies on their in-house web platform. It operates without a broker license.

 

Otherwise, BinaryOnline’s website is rich in content and with nice design. There is also extensive educational section. All accounts, instruments and platform features are well-described.

 

Trading Accounts

 

BinaryOnline offers its clients a choice of several account types, depending on the initial investment:

 

 

Account type Min. initial deposit Welcome bonus
Takeoff $250 Up to 25%
Standard $2 500 Up to 50%
Premium $10 000 Up to 75%

 

Standard & Premium account holders get personal trading advisor and 2 – 3 weeks of free signals trading. The broker also offers swap-free (Islamic) services.

 

The Company. Security of Funds

 

Company

Country

Regulation

Zola Ltd.

Bulgaria

N/A

 

Founded in 2016, BinaryOnline claims to operate in over 100 countries and to have more than 200 000 registered users. According to the information on the broker’s website, the brand is owned and operated by Zola Ltd. – a company based in Bulgaria, which does not hold a brokerage license. Although operating without proper authorization is not uncommon in the binary options industry, we advise traders to choose their brokerage very carefully. There are many scams out there, targeting mostly unexperienced traders, and most of them are not regulated.

 

That is why you’d better choose a broker regulated in Cyprus, for example, where CySEC exercises certain supervision and control and where your money is protected by the Investor compensation fund up to $20 000 in case something goes wrong.

 

Trading Conditions

 

Trading Options: Call/Put, Long term, 60 seconds, Ladder, One Touch, Pairs, Builder, Limits, Tradereplica

Assets:  Currencies, Stocks, Indices, Commodities, Cryptocurrencies

Expiry times: from 60 seconds (60 seconds) to 1 year (Long term)

 

Minimum Initial Deposit

The minimum initial deposit for clients of BinaryOnline is $250, which is a bit high for an unregulated broker. In comparison, in order to open an account with CySEC-regulated NenX, traders have to invest just EUR 10.

 

Min. bet size

The minimum bet size with this broker is $5 for 60 seconds and $25 for classic options, which is average for the industry. Of course, there are brokerages offering lower minimum bet sizes - with NenX one can place a trade with just EUR 1. Such low minimum bet sizes allow for better risk management.

 

Payout amount

BinaryOnline’s payout amount for standard binary options is up to 81% on EUR/USD, while returns for 60 second options are up to 70%. Returns up to 81% are on the lower end of average. In comparison, NenX offers high payouts, reaching 92%.

 

Trading Platform

 

BinaryOnline’s web trading platform has a standard interface and is easy to use. Mobile application is also available.

 

Apart from the standard trading options (such as Call/Put, Long term, 60 seconds, Ladder, One Touch, Pairs), there is Tradereplica option. This is a social trading feature, where successful traders are rated, and where other users can follow them and copy their trades.

 

 

In addition, BinaryOnline’s platform also has additional features to help traders make informed decisions. These include Trader choice, which allows you to get a glimpse of the direction trades have been placed by other traders, and Trendify, which enables users to effortlessly make use of the RSI, Moving Average and Boiling Bands.

 

On-Deposit Bonus

Welcome bonus with this broker is up to 75% of the initial deposit, however, it is available to clients of BinaryOnline who deposit at least $10 000. Takeoff account holders get a welcome bonus of just 25% of their initial investment.

 

Methods of Payment

 

There are several payment methods available to BinaryOnline’ clients: wire transfer, and credit/debit card payments. The minimum withdrawal amount is $100.

 

Conclusion

 

BinaryOnline is a young binary options broker with rrather extensive product portfolio and nice website. However, it is not recommended, because it is not authorized to provide brokerage services. Besides, the payout amounts it offers are not the highest in the industry, while the einitial deposit it requires is not small. To sum up the above:

 

Pros Cons
Rather extensive product portfolio Not regulated
Nice website with rich educational resources Comparatively high initial deposit required
  Payouts are not among the highest in the industry
  Attractive bonuses available only to clients who deposit more money

 

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Traders` reviews for BinaryOnline

BinaryOnline bonus

About BinaryOnline it was told you that they give you a bonus to use to trade with and that now you need to get a turnover of 60x the amount of the bonus paid.

That's the actual conditions for the bonus BinaryOnline is offering:

"For each granted bonus credit, transaction(s) with a total value greater than or, at least, equal to Thirty (30) times the bonus earning are required. Any value below these terms will, under no circumstance, be redeemable and will be returned to BinaryOnline."

To be honest - you didn't read the terms and conditions first. And this is mostly the problem - using the bonus but doesn't know what is the consequence. It is your own mistake that you didn't inform yourself first. Learn from your mistake and never do it again.

BinaryOnline is an unregulated broker. There have been a lot of complaints of traders about this broker. So the use of BinaryOnline as your broker should be avoided.

Never chose unregulated brokers. That's the only consequence you need to understand. In case of defrauding there will be no regulation authority that is able to help you.

Stay safe my friends. Always trade with an amount you are prepared to lose.
Educate yourself first, read the terms and conditions of trade.

Regards
Ingo

seafarer 10/21/2017

Binaryonline WITHDRAWAL

I have just tried to make a withdrawal from binaryonline

As Sipho has said in the review it is correct
Please do not trade with these people

I was told that they give you a bonus to use to trade with
and you need to get a turnover of 60x the amount of the bonus paid

So for example if they pay you a bonus of 750
You then have to make 60 times more before your funds become
available to withdraw 60 x 750 is 45,000

You will have to hit that amount before they allow you to
withdraw funds
I really hope there is someone who can help in anyway
In getting my funds back

As Sipho sad is there anyone that you know of who can advise me further

Kind regards
Alan

Alan 10/15/2017

BinaryOnline WITHDRAWAL

I learn with sadness from your review that BinaryOnline is not regulated. I joined them in December of 2016 through a link with the MACH 2 Robot. I made a first deposit of $250 and I started trading with the Mach 2 Robot. They called me and advised me to trade with a broker as the robot was not reliable. I agreed because the robot had won only 50% of the trades and my balance was now about $200. They offered me a bonus of $250 and advised me to place trade the broker recommended. I placed the trades and the balance grew to about $600. I was then assigned a new Expert Trader as they call their brokers. This ET made me borrow $400 because he said $1 000 was the right amount for him to work with me. He promised me that I would be able to repay the $400 within a month. I deposited the $400 but then I lost some of the money trading according to his recommendations. He then gave me another bonus of $400. By month-end he told me I could not withdraw the $400 but should continue trading. I kept on losing and then I started trading by myself. The ET left BinaryOnline and then I continued trading by myself and winning some trades. When the balance was now $902 two months after I had borrowed the $400 I made a withdrawal of $400. They now say I cannot make the withdrawal and that I need to make a turnover of 60 x $650 before I can make a withdrawal.

Can you help me in anyway?

If they are not regulated who can I turn to for help"

Kind regards

Sipho

Sipho 09/05/2017
Forex
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