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Binatex Broker Review
Binary options are still available through the website of Binatex broker. Most brokers have long since vanished, making these assets unlawful almost everywhere. By locating its corporate headquarters in Vanuatu, the broker was able to launch its activities in 2015 while circumventing stringent restrictions that forbade binary transactions. The island nation in the Pacific is a well-known offshore shelter and has also come under fire from the European Union for its lack of cooperation with international financial legislation.
- Regulated by: No regulation
- Headquarters Country: Cyprus
- Foundation year: 2015
- Supported Platforms: web trader
- Minimum Deposit: $10
- Types of Assets: FX, cryptocurrencies, stocks, commodities
- Maximum Leverage: N/A
- Demo Account: No
Regulators keep issuing warnings against Binatex
While the majority of binary options brokers either went out of business or switched to CFDs and FX, like 24Option, Binatex has remained in business. Many financial regulators have issued warnings against the broker since they are widely providing illegal and risky assets. In 2018, CySEC, Cyprus’s financial watchdog, issued a warning emphasizing that the broker is not authorized or licensed in Cyprus. Bulgaria has added the broker to its blacklist of restricted websites within the nation, going beyond a simple warning.
Warnings From Financial Regulators
The firm that owns Binatex, Binatexia LTD, has been suspended because, as we already established, binary options are prohibited in the EU. The broker is therefore unregulated. The warnings issued by CySEC, the Spanish CNMV, and the Italian CONSOB support that. These regulatory bodies are all alerting the public to the Binatex hoax.
Trading Conditions
Conditions for Trading. The broker requests a $10 deposit, which is customary for binary options brokers. $1 is the minimal exchange amount. Depending on the particular asset and the expiry duration, their payments range from 70 to 90%. This spans a huge variety. To get a better understanding of the payments for particular assets, traders can set up a demo account. Binary options are offered by the broker on many different underlying financial instruments, such as currencies, equities, commodities, and so on.
Binatex App and Trading Platform
The systems used by binary options brokers are always relatively basic, have few functionality, and have few charting tools. The goal is to keep the learning environment as simple as the asset itself. This general trend is supported by the browser platform from Binatex. The broker provides the Binatex App in addition to their browser-based platform. The application is significantly more basic, with big red and green buttons for up and down. In an effort to increase traders’ transaction volume, the broker tries to persuade them to execute trades rapidly and frequently.
Binatex Our Conclusion
In summary, binary options are always a risky investment. Dealing with an unregulated offshore broker exposes you to the possibility of total financial loss. These brokers operate without any restrictions.
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