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NRGBinary attracted traders not only from Europe and US but also from the Gulf region. The platform’s homepage used to welcome the visitors with a promotional video that guided the visitors about the basics of trading on this platform…
The website was well designed and graphs were simple enough for the beginners to understand what was going on. The trading process was utterly simple. It was nothing more than choosing an asset class and predicting the trend (up or down). NRGBinary offered more than 70 assets including stocks, currency pairs, commodities, and indices. The platform served from Monday to Friday, 24 hours a day.
This broker was introduced during the early days of binary options trading. It became popular within a couple of years. If you want to know about the truth behind the NRGBinary scam complaints then you need to read this review until the end.
To make things easier for you we’ve put together some quick navigation links below which you can use to jump straight to the specific information that you came here looking for rather than having to trawl through the whole review.
- NRGBinary Background
- Is NRGBinary Regulated?
- NRGBinary Complaints
- NRGBinary Withdrawal
- Is NRGBinary a Scam?
- Our Verdict on NRGBinary
- Scammed By NRGBinary? Get Your Money Back
- Our Best Recommendation For Making Money
NRG Capital, Alfa Media Group Ltd. (Cyprus) introduced NRGBinary in 2012. The platform was operated by MHGG Tech (an entity owned by NRG Capita).
NRGBinary was available in Turkish, Russian, English, French, Arabic, and Japanese. $350 was the minimum deposit required to start trading. You could not trade anything below $25.
The platform quickly attracted traders from UAE, Saudi Arabia, and Qatar. It facilitated EUR and USD. To ensure the provision of a reliable cyber security, the broker used SSL encrypts to secure the credentials of Credit Cards.
We were surprised to see that the About Us page of the NRGBinary website didn’t contain anything specific to the broker’s history, mission, or services. The page was actually filled with the information about the deposits, withdrawals, disclaimer, and a brief introduction to some financial analysts representing NRGBinary. Well, it was suggestive of a highly unprofessional and careless approach.
Is NRGBinary Regulated?
NRGBinary was NOT regulated. It was established in 2012 and kept operating for some years. In 2014, we called the customer support to ask about their legal status and licensing. As usual, we were told that the administration had applied for CySEC license. The reality was the opposite because they neither applied nor availed any license from CySEC.
As anticipated, the regulatory authorities didn’t waste much time to issue public warnings against NRGBinary.
OSC (Canada) was the first to issue a public warning against UFX Markets and NRGBinary. It caught the attention of the authorities from other regions and the broker was in the focus of CySEC radar since October 2013.
After the warnings, the administration changed the address on the website and the new address belonged to NRG Seychelles Ltd., an offshore entity. It was just a move to avoid strict legal actions.
Sudden shutdown without even informing its traders became a serious issue. NRGBinary simply vanished in May 2015 and the traders were left helpless. They could not access the website. The accounts were frozen. The money had turned into ashes.
As soon as the news spread, the traders took on online trading forums and to share their story. It was all despair. Some lost 1000s of dollars and other lost a few hundred, but none could get anything back.
The administration kept the clients engaged from 2013 to 2015 by making false promises. They kept telling their clients that the SySEC authorities delayed the licensing process for some reasons. They made the traders believe that the licensing process was complex and it required a long time.
What could somebody do? When you turn a deaf year to the legitimate public warnings from the regulators, this is what you have to face in the end.
NRGBinary facilitated a couple of conventional withdrawal methods, i. wire transfer ii. Credit Card, in addition to Western Union, we rarely see a broker entertaining Western Union. The minimum withdrawal limit was $100.
Is NRGBinary a Scam?
Yes indeed! NRGBinary scam alerts from OSC and SySEC were 100% spot on. The broker intentionally told the lie and kept repeating the same lie for years. It was the carelessness of the traders who never took it seriously or who just saw the one side of the picture. It was a huge scam, it stole the money, and it never bothered to update its clients before closing its doors.
Our Verdict on NRGBinary
NRGBinary had been a scam all the way through right from its introduction in 2012 till its disappearance in 2015. We don’t like anyone being so desperate about online trading. We are not against online trading, but being desperate actually blindfolds the traders.
Most of the binary options brokers, especially the unregulated entities, turned but to be ruthless, fraudulent, and tricky. NRGBinary scored big and it made it possible by engaging its clients by telling lies. Once a trader loses his/her money, there is no way to recover because no regulatory authority will take the responsibility to refund. The regulatory authorities did a great job by issuing a public warning well ahead of time. You can’t blame anybody but your own quick decision making driven by desperation.
Scammed By NRGBinary? Get Your Money Back
Since initially publishing our review on NRGBinary it seems that a whole bunch of withdrawal problems surfaced & as a result there have been many people claiming to have been scammed by NRGBinary, but if you are one of them then rest assured that you have landed in the right place.
Here at Stopping Scammers we have put together a free money reclaim guide which shows you step-by-step exactly how you can get your money back from a binary options scam, and therefore if you have lost money to NRGBinary we highly recommend you check it out.
The guide we have put together is completely free & to date it has helped thousands of people to successfully manage to reclaim the funds they lost to binary options scams so we know it can help you too.
Our Best Recommendation For Making Money
The truth is that even with the most legitimate brokers, binary options trading is bad news – in fact here at Stopping Scammers we’ve never seen so much as a single person manage to make sustainable profits from binary options trading… For that reason, we believe it is actually just a scam.
However whilst carrying out our investigations into binary options brokers we have actually come across many legitimate alternative ways to make money online – one of which in particular though has stood out from the rest.
In fact this particular opportunity is so good that we have actually decided to name it our number 1 recommendation for working from home & you can get access to it for free by clicking the link below: