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InnovateMarkets Review - Is it scam or safe?

InnovateMarkets Review - is scam or good binary options broker?

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Basic Information


Minimum deposit  Min./ Max. bet size Payout % Bonus Platform Regulation
$300 $5 / $2500 Up to 85% up to 150% web-based No


InnovateMarkets is a binary options broker, offering trading in commodities, indices, and currency pairs on their web-based platform without a broker license.


Trading Accounts


InnovateMarkets offers its clients a choice of several account types, depending on the initial deposit: Entry Level, Preferred, Signature, & Premium.


Account type Min. initial deposit Welcome bonus Risk-Free Trades
Entry Level $300 - -
Preferred $10 000 Up to 100%
Signature $100 000 Up to 125%
Premium $500 000 Up to 150% 3


The Company. Security of Funds


According to the Terms and Conditions agreement uploaded on its website, InnovateMarkets brand is owned and operated by Greymountain Management Ltd. The company is based in the UK, and is not licensed by the FCA, nor by any other regulator. What is more, we found a scam alert discussion in the Forex Peace Army forum, called GreyMountain Management's Nest of Binary Scam and most user reviews in the internet are negative, claiming that InnovateMarkets is a scam broker. Some of those reviews suggest that this broker is related to Banc de Binary, which shut down earlier this year, after having problems with US authorities and suffering several harsh fines from its regulator CySEC. 


We generally advise traders to avoid non-regulated (offshore) forex and binary options brokers because of all the risks associated with doing business with such. Now, the case with InnovateMarkets seems to be even worse, so stay away from it.


Trading Conditions


Trading Options: Call/Put, Long term, 60 seconds

Assets:  Currencies, Stocks, Indices, Commodities


Minimum Initial Deposit

The minimum initial deposit for clients of InnovateMarkets is $300, which is a bit high for an unregulated broker. In comparison, in order to open an account with FinaCom-regulated Grand Capital, traders have to invest just $10.


Min. bet size

The minimum bet size with this broker is on the lower end of average, amounting to $5 (for 60 second options). With Grand Capital one can place a trade with just $1. Such low minimum bet sizes allow for better risk management.


Payout amount

Depending on the Trading Options and expiry times, payout percentage offered by InnovateMarkets reaches 85%, which is average for the market. In comparison, payout percentage offered by Grand Capital amounts up to 86%.


Trading Platform


Like most binary options brokers, InnovateMarkets uses the web-based platform. There are also iPhone and Android apps available. However, the broker does not offer demo accounts, so we could not test it.


On-Deposit Bonus

Welcome bonus with this broker is up to 150% of the initial deposit, however, it is available to clients of InnovateMarkets who deposit at least $10 000, and this is not the wisest thing to do, as this broker is not regulated and likely a scam.


Methods of Payment


There are several payment methods available to InnovateMarkets’ clients: wire transfer, credit/debit cards, and e-wallets Neteller, giropay, Sofort, and Boleto.


The minimum wire withdrawal is 200 in your currency and the minimum withdrawal for other account methods is 100.




InnovateMarkets is an unregulated binary options broker with bad reputation and we do not recommend doing business with it. To sum up the above, here are the advantages and drawbacks in relation to this broker:


Pros Cons
Low minimum bet size   Not regulated
  No demo accounts
  Bonuses available only to clients who deposit at least $10 000


Latest news about InnovateMarkets
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Traders` reviews for InnovateMarkets

InnovateMarkets website disappeared

I am going to find all these scam people and put them to hell. These people got no life at all. I wish them hell of darkness with their family. And every single day they live will be hell.

Kim 09/19/2017

Innovate Markets has disappeared totally

The site has disappeared and the same has happened to the mail. I lost more than 9000 Euros. This is what I had in my account before Innovate Markets disappearing.

Inn 09/19/2017

Innovate market - not been able to get any funds out

Started with them in April with a broker account was doing well but not been able to get any funds out
Can anyone give advice please

Geoff 09/18/2017

Innovatemarkets: lost all my deposits

I was with them for a few months making constant profits, I also fell for this scam, like many others I lost all my deposits. I went to open my account and the website had disappeared, along with everything I had made. I hope scam investigators catch them and put them away.

Jeff 09/15/2017

should immediately report to the police

alle die mit innovate markets schlechte erfahrung gemacht haben und geld losgeworden sind sollten sich umgehend bei der polizei melden das die sache ins rollen kommt den so geht das nicht

Translated by Google:

all those with innovate markets have had bad experience and money got rid of should immediately report to the police the thing comes to the roll comes the so does not go

egon frehse 09/12/2017


I have opened an account with I asked for a withdrawal and received notingg. I wrote an email and complained. The returned the e-mail that the were sorry and would contact me soonest.

I am still waiting, but this morning i could not get into their website and the phones were not answered.

I think I fell for a scam.

Hans 09/11/2017


I had invested $240 in innovate market and when I wanted to take out my money, I was not able to. Can someone please help me, I don't know what to do.

Glenda Ramsook 09/09/2017

scammers / мошенники

служба поддержки не отвечает.свои деньги вывести не могу.

Translated by Google:

the support service does not respond. I can not withdraw my money.

inga 09/08/2017

InnovateMarkets - "website not found"

I was scammed by Innovate markets. I registered in 2016 November with Banc Seminary, right after a $250 deposit into Bank De binary someone phoned to be from bank debinary and offered a bonus of $500 on my account if I made another $250. Excited, I deposited and within 10 minutes I had confirmation of payment except from 2 different brokers I noticed. One from bank debinary and the other stated Grey Mountains.

I managed to withdraw the deposit from Bank debinary but Innovate markets told me they were going to manage my account and do all trades for me. They raised my account to about $6300 . But every attempt to withdraw was cancelled automatically. Then this September I could not login to my account and all emails were bouncing back to "website not found"

That was the end of my all my funds.

Beauty 09/08/2017 - Betrug

Ich habe auf die InnovateMarkets Handelsplatform 80.000 Euro ausgehandelt.
Leider habe ich das Geld nie ausbezahlt bekommen.
Mein Manager hatte mir das Geldauszahlung verweigert.
Auch mehrere E-Maile an Support haben nicht geholfen.
Ich habe immer das gleiche Rückmeldung von Support:
Ihr Manager kennt Ihren Problem und wird Sie demnächst anrufen.
Auf sein Anruf habe ich 10 Monate gewartet!, und niemals bekommen !!!
Letzt endlich das Support wie auch Handels Plattform verschwunden !!
Ich denke, dass mein Geld ist auch weg !!! Also pures Betrug !!!!!!

Mit freundlichen Grüßen
Janusz Zyblewski

Translated by Google:

I have negotiated on the InnovateMarkets trading form 80,000 euros.
Unfortunately, I never got the money paid.
My manager had denied me the money payment.
Also several E-Maile to support did not help.
I have always received the same feedback from support:
Your manager knows your problem and will call you soon.
On his call I have waited 10 months !, and never gotten !!!
Ultimately the support as well as trading platform disappeared !!
I think my money is also gone !!! So pure cheating !!!!!!

Best regards
Janusz Zyblewski

Janusz Zyblewski 09/08/2017

InnovateMarkets / Biggest scam company

InnovateMarkets is a scam company full of crooks. May they all go to Hell! I am a victim too. Opened an account with them, not able to trade on our own, don't know what they trade (if any) but your account simply grows to give you a illusion that they are making $$$ for you to entice you to pump in more money. But the problem is you never allow to withdraw your money. Please BEWARE!

caroline chung 07/18/2017

Innovate markets is surely a scam broker

I registered and deposited money with innovate markets. They appointed an account manager for me and she/he did all the trading. After 6 months I saw the money in my account grow to $19,000+. Then I decided to make withdrawal from my account. To my shock my account manager asked me to wire certain amount to her before my request for withdrawal can be approved.

Please is this normal? That a client will have to wire some fees to the broker before you are allowed to make withdrawal. This is puzzling. And I have come to terms with the fact that I have all these 6 months been dealing with SCAM brokers.

Please publish this so that other people will not fall victim to these scammers.

I score them below zero.

Thank you

Kenneth 07/05/2017
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