Heard of Binolla.com trading platform? Really want to find more details before choosing the broker? You can carefully read the Binolla reviews to know about this forex broker whether to use or not.
This post promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
Binolla: What is it?
Binolla otherwise known as Binolla.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Furthermore, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
What We Discovered about Binolla.com Forex Broker
First of, Binolla is incorporated in Saint Vincent and the Grenadines (SVG).
But, Saint Vincent and the Grenadines SVG is an offshore zone with no broker regulations in place. As soon as you open the website of the local Financial Services Authority you see a warning that the institution does not license forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.
Binolla.com did not seem to be regulated in any other jurisdiction. Another thing that bothered us was that the broker did not provide sufficient contact information and could only be reached via e-mail. This definitely does not speak well of them and makes us very reluctant to trust them.
Again, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Won’t you rather trade with a licensed and legit broker? 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, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website
Binolla Minimum Deposit
As for Binolla minimum deposit, we were unable to find information about its account types and minimum deposit requirements. In contrast, some licensed FX brokers can offer clients trading rate as low as $100 with the assurance of their trading funds.
Binolla.com does not provide information regarding available payment methods and transaction fees.
Another important thing, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Binolla Trading Software
We could not ascertain Binolla.com trading software, and if there were any, it would be web trading software with some basic tools and custom indicators but nothing more advanced.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Binolla Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Binolla.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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
Final Thoughts:
Binolla.com has disguised like a reliable trading investment platform, however, you should not take the words they say and the attractive website layout. While there is a clear evidence this cryptocurrencies company is questionable, it is always important traders steer clear from an unlicensed platform as its likely run by scammers.
To this end, we urge our readers to rely on regulated brokers like this or any licensed entity.
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