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uBinary was mainly known for its customized proprietary platform that the company developed in-house to facilitate its clients with exceptionally promising charts. The platform helped its clients with exceptionally beneficial technical analytic tools…
The traders who used uBinary admired the platform for offering better oscillators, trends, charts, and lines than most of the popular binary options brokers. The platform also served its clients with the option to choose their own time-frame.
What went wrong with such an impressive broker? Did it cheat on its clients? What forced this platform to shut-down? The platform has gone for over year, its popularity motivates us to go with this updated review see if we could extract a lesson from this broker’s story and if uBinary scam speculations manage to convince us. Let’s first have a look at the basic information about this broker.
This review of uBinary is likely to get quite lengthy and we appreciate that you probably came here looking for something specific so to help you out we’ve put together some quick navigation links below. Simply click on any of the links & you’ll be taken immediately to that section of the review.
- uBinary Background
- Is uBinary Regulated?
- uBinary Complaints
- uBinary Withdrawal
- Is uBinary a Scam?
- Our Verdict on uBinary
- Get Lost Money Back From uBinary
- The Best Way To Make Money Online
PPT Capital Ltd. established uBinary in 2011. This is an unregulated company and the address was displayed on the website as follows:
43-45 Portman Square, London, United Kingdom.
The ownership was shifted though and UB Innovative Partners LP also operated uBinary from Suite 2, 5 Vincent Street, Edinburgh, Scotland, United Kingdom.
uBinary managed to make a mark in the binary options industry but it didn’t manage to comply with the regulatory authorities which resulted in the frequent issuance of warnings against the broker. In 2017, the website suffered from a significant decline in traffic that ultimately hit the zero mark with months. The website is no more available so we can safely conclude that uBinary has become history.
Is uBinary Regulated?
uBinary was an unregulated broker. It caught the attention of the regulatory authorities in 2015 when AMF (France) issued a warning against the broker for trying to attract the French residents without any legal authority (04-03-2015).
The alarm was raised and noticed by the Canadian regulatory authorities on 09-03-2015 as CSA issued the warning against uBinary.
On 27-07-2016, uBinary was on the radar of the Swiss regulatory authorities and FINMA issued a public warning against the broker.
We’ve already witnessed that as soon as a broker receives so many warnings from different countries, the escape becomes an obvious result. uBinary had to vanish after the above-mentioned warnings and this is what it did in 2017.
As soon as the warnings against uBinary emerged, the number of serious complaints began to increase. The reputation of the broker almost bit the dust as the traders witness delaying tactics during withdrawal processes. Some of the officials were also arrested against serious charges of tax fraud.
Some traders claimed that the broker continued to perform well until 2015 but after that, the reps started to manage the trades without the trader’s consent. It turned from a promising broker into an irritating scam artist. Most of the traders lost their money because they couldn’t even access their uBinary accounts. Somebody suddenly changed their credentials and it was all over for the account’s actual owner.
uBinary required from 3 to 7 working days to withdraw the funds over Credit Card and 10 working days in the case of a Wire Transfer. The traders had to first submit the request by presenting their documents for identity verification. $50 was the minimum withdrawal amount.
Is uBinary a Scam?
uBinary started off in a promising way but with the passage of time, its inability to comply with the regulatory authorities turned the platform into a serious threat for anybody investing via this broker. uBinary scam reports have been confirmed but the discovery took much longer. The warnings against the broker had been issued way earlier but most of us fail to realize the threat until it really materializes. It happened with the uBinary clients, they knew about the warnings issued by various authorities but they still continued to invest.
You have to realize that as soon as a warning is issued, and is followed by more warnings from other authorities, you have to stop investing with the broker. Warnings are suggestive of the fact that the broker is now getting ready to find the escape route. In most of the cases, traders keep trusting the broker until they fail to access their accounts, by then it gets too late to recover anything.
Our Verdict on uBinary
uBinary was a scam, there’s no doubt about that – and the website has now closed down which is definitely a good thing as it prevents more new people from getting caught up in the scam.
However if you have already lost money to uBinary then the disappearance of their website might not be so reassuring for you – but don’t worry because as we will explain below there is still a good chance of you being able to get your money back.
But with regards to our verdict on uBinary, we would not recommend them even if they were still around – in fact we would not even recommend the most legitimate binary options broker because we believe binary options trading is literally nothing but bad news.
Get Lost Money Back From uBinary
Have you already lost money to uBinary prior to coming to this review? You’re not alone! We’ve had LOT’S of people who’ve been scammed by uBinary coming to our website & asking for help…
Well the good news is that you landed in the right place because we’ve put together a free money reclaim guide which shows you exactly how you can reclaim your lost funds if you were a uBinary scam victim.
The guy has helped thousands of people to recover money from binary options scams to date & we know it can help you too so we highly recommend you check it out before you go.
The Best Way To Make Money Online
Binary options trading sucks – even with the most legitimate binary options brokers… That’s what we think here at Stopping Scammers because we’ve NEVER seen anybody make sustainable profits from binary trading.
The good news though is that there are many other better & legitimate ways that you can make money online. We’ve come across lot’s of them whilst carrying out our investigations.
However despite coming across a lot of them, there has been 1 in particular that has stood out from all of the rest. As a result we have crowned it our number 1 recommendation for working from home.
So if you’re still looking for a legit way to make money online then you can check out our number 1 recommendation by clicking the link below: