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Binetrix (Binetrix.com) is another crypto trading platform claiming to offer a powerful, intuitive investment strategy. But unfortunately, those who have invested with the broker find it hard to withdraw funds. As it turns out, the broker secretly withholds funds from investors.
Our Binetrix review exposes why this trading platform is a high-risk investment option. Those who have invested with the platform are ruing the decision. As it turns out, only the owner gets to profit from Binetrix.com.
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Unsurprisingly, the broker fails to offer a credible background and history. Additionally, we have a broker who fails to offer much regarding availability and transparency. Accountability is also out of the picture with this broker.
From what we see, the broker claims to have a valid license from St. Vincent and the Grenadines. The broker uses a UK phone number to solicit investors to sign up. We have a broker who uses virtual phone numbers to communicate.
Without a background check, members are free to open an account without question. And this is the first mistake members make when investing with online platforms. Unfortunately, most fail to do a background check on the broker.
You must ascertain that the broker does offer legit crypto investments. And this means having to offer much in terms of transparency. You need to make independent decisions and don’t get swayed by the broker’s claims.
Before anything else, you must do due diligence. Try and check to confirm whether a broker is legit or not. Make sure to confirm with regulators and find out whether a broker offers realistic returns. Avoid brokers who tend to promise heaven and high-profit claims.
You would expect the broker to offer accessible trading platforms such as MT4 and MT5. But, unfortunately, that’s not the case. Instead, you get a broker offering realistic profit margins in terms of authenticity. MT4 and MT5 are the best trading terminals to use for several reasons.
These terminals offer 21timeframes and advanced tools. In addition, you get a platform that incorporates trading robots and charting tools. So not only do you get a formidable platform but a stable terminal as well.
From what we see, the broker in question offers meager profit margins. The platform is also in question as it’s a custom-built trading terminal. So you have to go for terminals that offer much credibility and importance.
We also couldn’t find some attributes that help naïve traders work through a platform. That includes educational materials or a demo account. A demo account is imperative to investors who don’t offer much creativity.
There are six plans to choose from with Binetrix. These include Opening, Horizon, Heritage, Fortune, Great fortune, and Infinite accounts. Let’s take a closer look at each of these accounts;
There’s a minimum investment amount needed of €1,000. Now that’s a huge minimum deposit for the most basic account. Moreover, you don’t even get risk management tools or any interest earned for investing or trading with the broker.
There’s an acceptable minimum deposit of €5,000. You get a promise of making 3 percent interest with a few reports and trading signals. Unfortunately, the accuracy of these trading signals remains unknown.
€15,000 is the acceptable minimum deposit for this account. You get a promise of earning 4 percent interest for your investment. Members also get individual trading and two sessions with support weekly.
Members must deposit €50,000. In addition, members get four trading sessions with an expert and a promise of making 5 percent interest. There’s also a promise of getting deposit insurance and access to the newsroom.
To get started with this plan, you must deposit a minimum of €150,000. In addition, members get a financial manager and access to the newsroom. An interest of 6 percent is also required to get started with the account.
€300,000 is the minimum acceptable deposit with this plan. The plan is one seen as best for expert traders. You get access to an investor protection fund and an interest of 7 percent. Members get all available features with the infinite account.
To the untrained eye, these accounts look like ones worth investing in. The problem with these accounts is that no one gets to withdraw funds. Even seasoned trader doesn’t get the chance to enjoy their investments.
And that’s why we must draw the line regarding these accounts. For starters, the accounts don’t make any sense. You must deposit a large sum and fail to get the much-needed information.
This a classic example of a broker hiding information from the members. These include the set leverage and spreads available for trading. The broker also fails to mention the set spreads, are they fixed or variable?
How can you earn interest from trading? Is this platform a bank or a loan provider? That interest alone is what makes the broker a scam. We don’t expect a broker to offer any form of interest to investors. Even commissions for trading are a no for us.
The broker claims to offer financial aid to some of these tiers. These are not actual financial members but call agents. All they do is call members and claim to have a lucrative open position. Once you fall for the trap, there’s no coming back.
Those who have deposited funds with the agents hoping to win big lose it all. And the platform is quick to replace these agents with new ones. Attempts to reach back hit a wall as the broker claims the agent is on leave.
Don’t expect any contact or support from the broker. There’s not even a live chat support section for members to use to make contact with the broker. We see a broker keen on avoiding direct contact with members.
With one avenue to use, it doesn’t come as a surprise as the listed phone number is ever busy. As a result, you get a platform that fails to offer much when interacting with members. And that’s what you should avoid, an unavailable broker.
With the rising complaints and no withdrawal cases, we rank the broker zero stars. Investing in the platform should be the least of your worries. The broker doesn’t have a footing in the crypto or forex trading scenario.
Binetrix is not your average investment platform and fails to have any valid license credentials. You must avoid this broker at once. You won’t get any part of the excitement without a valid license. The broker is not a reliable one.
Once you deposit funds, the broker claims to take over and invest on your behalf. The broker will raise your account balance as they have access to the backend. When the time comes to withdraw funds, the broker gets lost.
Your funds are far from safe with the platform. So please stay away from this broker.
Do leave your comment and invest in worthy crypto investments.
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