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    Binetrix Review – Can You Trust This Platform for Trading?

    Is Binetrix Legit or a Scam?

    The answer is unfortunately clear: Binetrix is a scam broker to be avoided at all costs. While they may present themselves with slick marketing and promises of success, their lack of regulation, hidden fees, and negative customer experiences paint a clear picture of a fraudulent operation. Here’s a closer look at the red flags and why you should steer clear of Binetrix:

    What is Binetrix?

    The business is based in Saint Vincent and the Grenadines. We were unable to locate any information regarding rules on their website. As such, we ought to handle our money very carefully in this situation.

    It is purported that Binetrix provides contact via Facebook, LinkedIn, and WhatsApp. It simply returns you to the standard contact form and provides you with a UK phone number if you choose to attempt those alternatives.

    Binetrix Details

    Regulated by

    Unregulated Offshore Broker

    Is This Company Safe?

    The absence of licenses makes any site unsafe!

    Known Websites

    https://binetrix.com

    Have Warnings from

    N/A

    Registered in

    Saint Vincent and the Grenadines

    Operating since

    2022

    Trading Platforms

    WebTrader

    Maximum Leverage

    N/A

    Minimum Deposit

    1,000 EUR

    Deposit Bonus

    Up to 100%

    Trading Assets

    Commodities, Shares, Indices, and Cryptocurrencies

    Free Demo Account

    Not available

    How to  Withdraw from This Company?

    No payout history from the previous traders. If this happens to you, you should contact us.

    Deposits and Withdrawals

    The minimum deposit is 1.000 EUR, which is more than normal. All you have to do is keep in mind that a few regulated businesses provide micro accounts so you can see how everything operates.

    Retractions are dubious. When you seek a withdrawal from Binetrix, they need to confirm it again because they are not licensed. They can also invent any excuse not to pay out.

    Account Types

    Binetrix offers six account types with varying spreads, leverage, and minimum deposits. However, these tiers seem designed to confuse rather than empower. High leverage, especially for beginners, is a recipe for disaster, while the lack of transparency about spreads makes it difficult to accurately assess costs and potential profits.

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    Red Flags and Warning Signs

    Binetrix Broker received multiple regulatory warnings in 2023. In February, the Finnish FIN-FSA released the first one. According to the warning, the regulator has reason to believe that the aforementioned company is a fraud.

    binetrix, binetrix forex, binetrix review, binetrix broker, binetrix scam, binetrix fores

    On June 5, 2023, Spanish CNMV came next. This warning states that the business provides financial services without the necessary authorization. Later, this alert was reposted in Bulgaria and Slovenia, among other EU members.

    binetrix, binetrix forex, binetrix review, binetrix broker, binetrix scam, binetrix fores

    Ultimately, binetrix.com was one of the five offensive websites that the Italian CONSOB prohibited on June 28, 2023. Additionally, the Belgian FSMA’s website featured the Italian warning.

    Customer Complaints and Negative Reviews

    Numerous customer complaints paint a grim picture of Binetrix’s practices. Common grievances include:

    • Difficulty withdrawing funds: Many users report being stranded with their money, unable to access their profits or even their initial deposits.
    • Hidden Fees: High spreads, commissions, and inactivity fees erode profits and make it difficult to turn a positive return.
    • Poor Customer Support: Getting help from Binetrix is reportedly an uphill battle, with unresponsive live chat and email support frustrating customers seeking assistance.
    binetrix, binetrix forex, binetrix review, binetrix broker, binetrix scam, binetrix fores
    binetrix, binetrix forex, binetrix review, binetrix broker, binetrix scam, binetrix fores

    Got Scammed by Binetrix? We Help Victims!

    If you’ve fallen victim to Binetrix’s scam, know that you’re not alone. Organizations like Broker Complaint Alert can assist with recovery efforts. After you complete the form, you will get a free consultation call from our professionals and will get some recovery service recommendations to help you recover the lost funds.

    If you’ve experienced financial losses with companies like WealthPro365Exorays, or Cylwex, please report it using the form below.

    File A Complaint Against Scam Broker's

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      Kenneth Williamson

      Kenneth Williamson serves as the primary news writer at BCA, bringing his expertise in online marketing to produce high-quality industry coverage. His unwavering commitment to helping individuals and businesses succeed in the digital realm is evident in his writing. Additionally, Kenneth provides top-notch technical SEO and copywriting services to businesses of all sizes.

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