BINARYTRADEMAX Review: this is the name of an investment company that does not disclose its location. Is Binarytrademax.com a scam or is it safe? There are many fake investment companies in the market today. Ensure you read this review before investing your funds.
When reviewing a company, we first find out its location and check online with the commission regulating trade in the area. But for BINARYTRADEMAX there is no mention of a location. The closest we come to finding out this detail is an unclear Google map. This is not an oversight or honest mistake, rather a tactic common among scam brokers.
Because they lack proper licensing and regulation, they withhold their location or address to sabotage plans of checking with the regulatory commission. We want readers to be aware of this tactic and not fall prey due to ignorance.
Advantages of BINARYTRADEMAX
BINARYTRADEMAX like the name insinuates claims to be a binary option trading company. They claim that their technology is “revolutionizing the financial services industry”. This is achieved by empowering millions across the globe to trade and invest in bitcoin and avoid the common intermediary costs.
It is common for Binary Options brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
They also mention that they have top security protocols, fast and instant withdrawals and simplicity. The simplicity is that all clients need to do is invest funds while the company trades it for them and give them profit.
BINARYTRADEMAX Trading Platform
We find no mention of the kind of trading platform offered by BINARYTRADEMAX but we advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.
Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.
These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.
Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.
Trading instruments offered to traders are likely to be cryptocurrencies as they are the only trading assets mentioned on the page. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.
Maximum leverage offered to clients is not mention and while some may seem generous, it poses danger. High leverages can lead to huge loss of funds as well. Spreads are not disclosed on the EURUSD pairs.
Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.
Deposit and Withdrawal methods on BINARYTRADEMAX
In order to make payments or withdrawals with this brokers, clients should use: Bank wire, Western Union, MoneyGram, Bitcoin. There is no mention of e-wallets and we it this discouraging.
This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.
Minimum deposit required is not disclosed. We are aware that the common average among brokers is $100 – $250 but brokers are advised to make this known on their website. Withdrawal fees are not disclosed and we prefer the broker to mention if they apply or not.
This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.
Trading Bonus and Profits
The company offers traders 3 types of investment plans and they all give profits weekly. One gives 30%, another 50% and there is a 90% profit plan. All these gains seem unrealistic as Binary options trading is very unpredictable and no one can be assured of making 90% of investments every week.
Is BINARYTRADEMAX Licensed?
No. We have explained in the beginning of this review how we check for the registration and licensing of companies. BINARYTRADEMAX does not allow us check this as it hides its location, thereby making us conclude that it is not a registered company. It is dangerous to invest in companies that are not under any authority as they may misappropriate people’s funds.
Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.
There is no information on how interested clients are to contact the company or get in touch with the customer care representative.
We find no legit registration for BINARYTRADEMAX and this is discouraging. Many important details are left out and we do not advise traders to invest with this kind of shady company. If you have anything to add to this review, use the comment section.
COMPARE WITH A TRUSTED 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 well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
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