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The expansion of binary options trading industry has encouraging thousands of traders and it led to the increasing number of online binary options brokers. VIPBinary is one of those platforms that are included in the pioneers of online brokerage. The platform emerged in 2011 and featured the SpotOption platform…
This 100% web-based broker attracted hundreds of traders because it didn’t require the downloading on any software. VIPBinary provided an easy-to-use platform to facilitate the beginners. It featured Double Up, Roller Over, and various other options to make the most of the modern-day trading.
If you are thinking about joining this platform, you first need to make sure how it worked in past, who regulates the broker, and is there any serious VIPBinary scam alert? Let’s find out!
We have conducted a pretty thorough investigation into VIPBinary but we appreciate that you might have come here just looking for some specific information so to help you out we’ve put together some quick navigation links below.
- VIPBinary Background
- Is VIPBinary Regulated?
- VIPBinary Complaints
- VIPBinary Withdrawal
- Is VIPBinary a Scam?
- Our Verdict on VIPBinary
- Scammed By VIPBinary? Reclaim Your Money!
- A Much Better Way To Make Money
VIPBinary was established in 2011. The website mentioned VIPBinary Ltd. as the owner and operator of the platform and was operated from the British Virgin Islands.
- Phone. +1 646 4614999
- Email. firstname.lastname@example.org
The platform required a minimum of $250 to start trading.
Unfortunately, the website is not accessible now and it is suggestive of the fact that the broker is not operating this platform any more.
It was a quite successful broker, the website was really delicate and attractive, and was organized in a highly professional manner. It featured educational tutorials to guide the beginners. It was available in Spanish, French and English versions.
VIPBinary offered 33 stocks, 7 commodities, 15 currencies, and 28 indices. Touch-option was only available during the weekends.
We examined the platform closely when it was operational. We detected that the refund policy was way too far from what the traders might have liked. 75% was the maximum return, quite low as compared to 85% maximum offered these days.
Is VIPBinary Regulated?
VIPBinary was NOT regulated under any reliable authority. Moreover, its address was also off-shore. The company wasn’t even registered anywhere, let alone being regulated.
Surprisingly, we didn’t manage to find a warning from any regulatory authority. The broker started offering its services in 2011 and continued until 2016. Usually, the warnings are issued within a year in the case of any unregulated broker. Perhaps, the regulatory authorities were not so cautious a few years back. They are really alert these days, by the way.
Traders began to leave VIPBinary since 2014 to invest on other platforms offering higher returns. The provision of 75% (max) return was a major concern.
In addition, the minimum withdrawal was set at $100 and most of the traders didn’t like it. They wanted it below $50 to withdraw via Credit Card.
It kept going well even though other new brokers pulled away a number of VIPBinary clients. We didn’t find anything serious in terms of complaints before 2016. It was the sudden shut-down of the website that left the traders in a shock. All of a sudden, people learned the most important lesson that they never tried to learn without suffering from a huge loss. VIPBinary disappeared in a matter of hours. That was utterly shocking for the clients who continued to use the platform for years.
We don’t really see a major reason for their sudden disappearance. There was no serious warning from any of the legal authorities. The broker often plans the escape after the issuance of a warning. There were no serious complaints from the traders either. We are still not sure what went wrong. The management must have been fed up and decided to collect whatever it could from traders’ accounts.
The withdrawal processing was extended. It required 3 days to approve the withdrawal request. The processing required addition 5 working days (minimum) and 7 working days (max). You could withdraw via Credit Card, Skrill (Moneybookers), or wire transfer.
Is VIPBinary a Scam?
Yes! VIPBinary scam is no secret. Though it wasn’t a scam from the word go. It served for almost 5 years and the clients were fine with its dealings. It did turn into a scam for some unknown reason. Either it was a pressure for acquiring a license or it was the fear of losing more clients in the presence of new binary options brokers. Whatever it was, we just know one thing that traders lost their money once again. It looks as if most of the traders are born-losers. A scam artist develops a platform, uses marketing tactics, collects money, and melts down to no-existence.
Our Verdict on VIPBinary
Today’s review teaches us an important lesson. Even if a broker is around for over a decade, you can’t trust him. People often argue the experience, and time duration of a service to justify the credibility. This myth has been completely shattered by VIPBinary.
Scammed By VIPBinary? Reclaim Your Money!
It has come to our attention that literally thousands – potentially even tens of thousands were caught out by the VIPBinary scam, and many (potentially you) haven’t yet reclaimed their funds.
In fact many are not even aware that they can reclaim their funds… And that might be you reading this review. Well we can tell you that you can indeed reclaim your funds & we have put together a free money reclaim guide which shows you exactly how to do it.
So if you have lost money to the VIPBinary scam then we highly recommend you check out our guide as to date it’s helped thousands of people to get their money back from scammers & we know it can help you too.
A Much Better Way To Make Money
Binary trading, even with the most legitimate of brokers – sucks! That’s our verdict here at Stopping Scammers, but thankfully if you are looking to make money then there are plenty of alternative ways that you can do it.
Whilst carrying out our investigations into scams & online opportunities we’ve actually come across many legitimate platforms – and there has been 1 platform in particular which has stood out from all of the rest.
In fact this platform in particular is so good that we 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: