BinaryBook Broker Scam Review
We have made a research of BinaryBook and found out that they do not rate highly and there is no significant data about them. As an alternative we have selected our Top Safe Binary Brokers along with detailed reviews for safe and secure trading.
Since we haven’t gathered enough information yet, we cannot confirm that BinaryBook is safe. You can Proceed to Safety OR Choose one of the Is-Scam approved and safe Forex Brokers:
BinaryBook is a new broker established in 2014 owned by WSB Ltd. On their website we couldn’t find any address or more information about the broker and the company that owns them. BinaryBook offers the SpotOption trading platform with a variety of assets such as stocks, commodities, indices and currencies. They offer beginners as well as professional traders ease of trading, good customer service and high payouts. This broker also accepts U.S clients. The platform is available in English, Turkish and Arabic. The Support team is available 24/7 via LiveChat and Telephone. A mobile version for Android and IPhone is also available.
The fact that there is no information on their website about their company’s address, does raise a red flag. Also traders should keep in mind that BinaryBook is not regulated and if they want to choose a more reliable broker, they should pick a broker that has already received their license and regulation.
Currently no evidence points towards a scam, but after having researched BinaryBook we came across several complaints on the internet from traders about the broker and their complaints are all related to the same things: withdrawal problems, customer service not being helpful, etc. We can never be sure that these complaints are 100% legitimate, however it’s best to use caution if signing up with this broker. Traders should take into account the fact that BinaryBook is a fairly new broker and conduct a more detailed research before investing with BinaryBook. We recommend signing up with a safe and a secure broker.
BinaryBook offers five different account types. The Micro Account helps novices to gain trading knowledge without the need of facing financial risk due to lower investment amounts. A $250 deposit is required and with that traders receive a free 20% welcome bonus.
The second one is the Basic Account. In order to start the Basic Account, a $500 deposit is required. It comes with a free 50% welcome bonus, one risk-free trade and one month of free Basic Trading Signals (Worth $200).
BinaryBook’s Gold Account is good choice for advanced traders who wish to generate larger profits. $5,000 must be deposited into the account and Gold account holders receive a free 75% welcome bonus, two risk-free trades and one month of free Gold Trading Signals (Worth $500).
The fourth account choice at BinaryBook is the Platinum Account which requires a minimum deposit of $10,000. There is a 100% welcome bonus in addition to five risk-free trades and two months of free Platinum Trading Signals (Worth $1,000).
Keep in mind that if you accept a bonus from this broker there are special terms and conditions that need to be met. For exaple, you have to trade 30 times each bonus dollar you receive, and only after that you can withdraw funds from your account.
Withdrawals are executed by sending a request via email. A minimum withdrawal is $100 but there is no limit to the amount that can be withdrawn from a trading account. A “Reverse Withdrawal” feature is available on the BinaryBook platform. To access it, simply login to your trading account, go to the “My Account” tab and click on the “Reverse Withdrawal.” There are no limits to the amount you can withdraw from your trading account. Nevertheless, your withdrawal request should be aligned with BinaryBook’s terms and conditions, matching your trading volume.
BinaryBook has a minimum deposit requirement of $250. The broker offers multiple deposit methods. Most credit cards and debit cards such as Visa, Delta, MasterCard, Diners, Visa Electron, Maestro, Maestro UK (Switch) and Solo are accepted as well as bank transfers and Neteller, cashU, Webmoney and UnionPay. BinaryBook also offers risk-free trading to its traders to make Forex trading even more appealing. An initial deposit of $1000 generates 1 risk free trade; for a deposit of $2000, 2 risk-free trades are offered and for an amount of $10,000, 5 risk-free trades are offered.
BinaryBook offers several bonus programs. Welcome bonuses range between 25% – 100% depending on the type of account chosen.
Is BinaryBook Legit or Not?
As a recent entry in the Forex arena, BinaryBook provides traders with most of the features needed to start trading Forex. Setting up an account, selecting an asset and placing a trade is simple and it can all be done within a few minutes. Nevertheless, after doing a thorough research on this particular broker, our team noticed a few complaints from traders all related to withdrawal and customer service. The feedback on this broker has not been 100% positive so far and our main goal is to prevent scammers from entering the market.
ConclusionAfter detailed investigation our team concluded that there are better choices than BinaryBook. We cannot confirm that this Forex broker is a scam, but our research revealed enough traders’ complaints to not make us feel safe trading with BinaryBook.
We recommend you to Proceed to Safety and avoid scams by choosing High-Rated and Trusted Brokers on Is-Scam.com.