Binaryforextradings is another forex broker that plays fast and loose as regards to the information it provides. In the review below, we take an in-depth look at the features binaryforextradings.com allegedly offers. This review basically answer the questions: is Binaryforextradings legit? Is Binaryforextradings reliable? The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about Binaryforextradings.

Binaryforextrading Trading Platform

Binary Forex Tradings is a brokerage that offers  trading in “binary options, Forex and spreads.” On registering we were asked to their Bitcoin Wallet, as well as a Referee. 

Binaryforextrading Account Types

In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea as to how a broker might work.

After thoroughly checking we discovered that this broker has four account types

Binaryforextrading Deposit and Withdrawal Methods

Deposit and withdrawals are the two most important transactions for us, because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.

We could not determine the exact method for making payments here. But we do not advice you to send any to them as transactions with bitcoin are hard if not impossible to trace or reverse

This broker claims not to have any withdrawal fees. 

Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawals

Is binaryforextrading Licensed?

Licensing is another important part, because a regulated broker can be trusted to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it is actually regulated.

This broker claims to be regulated by the Commodity Futures Trading Commission (CFTC) and based in New York although their  information contains a Texas address

After checking the registry of above regulatory body, we could not find any evidence of this broker being licensed. 

Traders should always ascertain if a broker is licensed before investing in them. They should check regulatory bodies such as the FCA in UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy and many others.

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Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands

Accepts Traders Worldwide

Minimum Trade Deposit $100

Maximum Leverage
1:500

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Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)

Accepts Traders Worldwide

Minimum Trade Deposit $100

Maximum Leverage
1:300

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BEGINNER FRIENDLY

Licensed in Australia(ASIC) and Cyprus(Cysec)

Accepts Traders Worldwide

Minimum Trade Deposit $100

Maximum Leverage
1:500

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(Get a special Offer)

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Conclusion

In fact-checking this broker, we found that many of its claims were either or false or unverifiable. We can’t confirm their location, and also, there is a lack of transparency in depositing funds and even a foggier and non-explained process of withdrawing. We don’t advise you to invest with this broker, any attempts to do so we certainly lead to loss of your funds.