BinaryOnline Scam – How Is This Broker Still Operating? Full Review

BinaryOnline is a relatively new broker that was introduced in 2016 and the platform promises its services in over 100 countries with 8,00,000 registered traders. The web-design is decent the color scheme suits the industry. Thank God, we are finally reviewing a broker that is still operational…

Binary Online Broker Website Screenshot

BinaryOnline not only serve through its website but it also has an Android App. Unfortunately, the broker still lacks an app for the iOS. In addition, the website doesn’t offer any language options other than English. Moreover, the Demo account isn’t available.

Is it a good choice? What do you need to consider the possible BinaryOnline scam claims? How has the platform served over the last couple of years? This review will uncover the truth you need to know before considering this platform.

BinaryOnline Review Summary

Cost: $250+

Recommended: No (See Our Top Ranked Legit Program Here)

Rating: 0/100

Summary: We’re surprised to see that BinaryOnline is actually still online & accepting new traders as the whole operation is without a doubt a typical binary options scam. There have been many public warnings from regulatory bodies about BinaryOnline & as a result we do NOT recommend trading with them. If however you have already lost money to BinaryOnline then continue reading to see how you can get it back.

Quick Navigation

If you have just come here looking for some specific information on BinaryOnline then to make things easier for you we’ve put together some links below which you can use to quickly navigate through our review.

 

BinaryOnline Background

Zola Ltd. owns and operates BinaryOnline from Sofia 1000, ul. Pirotska No 2 fl. 4, Apt. Office 12.

Zolarex Ltd. undertakes the payment services and it operates from Ajeltake Road, Ajeltake Island, this offshore location is discouraging for the experienced traders as they know that most of the brokers from this location don’t really have a transparent status.

  • Phone. +44 203 0260 222
  • Email. support@binaryonline.com

The broker promises the availability of 17 stocks, 3 indices, 62 currency pairs, 6 commodities, and a couple of cryptocurrencies, i.e. Ethereum and Bitcoin. These number don’t really match with what they really offer.

If you fail to trade anything during a 30-day period, your account will automatically become inactive. Let’s have a look at the legal status of this broker.

Is BinaryOnline Regulated?

BinaryOnline is NOT regulated and its reputation is terrible. The clients are not happy with the pressure tactics and false promotional claims made advertised on the website.

The broker is also promoted by scam robots redirecting the visitors to BinaryOnline. So we are actually reviewing a broker that is not regulated, is operating from an offshore location, and the website now doesn’t mention any physical address, and the management is using tricky marketing tactics to throw the bait.

The British Columbia Securities Commission (BCSC) issued a public warning against BinaryOnline on Dec. 14, 2016. It was after this warning that the website erased the previously mentioned address.

BinaryOnline Complaints

BinaryOnline is more like a pyramid scheme inspired by affiliate marketing tactics. The clients are not happy with the harsh behavior of the support team. The account managers go beyond limits when convincing the traders to make further deposits.

The fact that this broker is using scam robots disappoints us all. This is a clear sign of a scam artist. For instance, the notorious HB Swiss redirects the visitors to BinaryOnline website. Nova App is also involved in the same practice & so is the Ethereum Code. Why on earth does a binary options broker establish links with extremely notorious entities?

The withdrawal failure is becoming a frequent complaint against this platform. The hungry account managers make you feel like haunted from all directions i.e. repeated calls, emails, and letters etc.

BinaryOnline Withdrawal

BinaryOnline entertains Wire Transfer and Credit Cards for withdrawals. The website mentions eWallets but doesn’t name any.

100 currency units are the minimum withdrawal limit over Credit Card and it rises to 500 currency units in the case of Wire Transfer.

We were surprised to realize that the processing time raged from 3 working days to 21 working days. And the existing clients seldom receive their money even after 21 days. They are simply struck with some withdrawal failure issue and the whole process has to be repeated. The results are the same though!

25$ is the withdrawal fee for Credit Card but it is also accompanied by a 10$ processing fee. This is crazy! What the initial $25 if not the processing fee? In addition, $50 is the withdrawal fee via Wire Transfer.

Is BinaryOnline a Scam?

Since its launch in 2016, BinaryOnline scam warnings helped the traders to stay alert. But the broker still managed to attract a sufficient number of traders to materialize a significant steal. It hasn’t yet disappeared but we think that the Doom’s day is approaching soon. This is the typical scam scenario. The website content is extremely misleading. The claims are false and the broker is linked with notorious scam robots. What else are you waiting for?

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Our Verdict on BinaryOnline

Thumbs Down

We DO NOT recommend BinaryOnline because this is a typical scam. It is still operational but we are convinced that it will disappear without even posting a notification. NEVER think of making further deposits with this broker come what may. This is a team of marketing experts preparing the bait based on pushy money-making claims.

How To Get Your Money Back From BinaryOnline

Did you already deposit into BinaryOnline prior to coming to this review? If so and you have lost some money to the system then don’t worry, we can help you get it back.

We’ve put together a scam reclaim guide which shows you exactly how you can reclaim your funds from these scammers & you can access the guide for free by clicking here.

The guide is proven to work & to date it has helped thousands of people get reunited with the money that they lost to scams, so if you’ve lost cash you should definitely check it out.

A Better Alternative To Make Good Money Online

Brokers like BinaryOnline are just out to take your cash, but thankfully there are some legitimate programs out there that truly can help you to make good money online… So if that’s what you’re looking to do, then rest assured it’s still possible.

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About the Author:
Hi, I'm Dale, the founder of Stopping Scammers. I fell victim to an online scam many years ago & I launched this website, as a result, to protect others from making the same mistake. I now earn a living working online after discovering a legitimate method called affiliate marketing & I aim to share what I've learned to help others to do the same. You can report a scam here or you can see the legitimate methods for earning online here. I truly hope you find this website helpful.

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