Binatex-Overview of Minimum Deposit, Spreads & Leverage

WikiFX | 2021-11-10 18:06

Abstract：Binatex is an online broker that offers binary options. Yulanta Business Ltd is the company that owns Binatex, which started operations in 2015. This company operates out of Seychelles, a country that many brokers register with to avoid stringent financial protections standard in other nations. Binatex isn’t under the regulation of any of the significant financial authorities like the FCA or CySEC. In 2018, CySEC issued a warning that explicitly stated that Binatex is not under their jurisdiction and has no registration with the regulatory body.

General Information & Regulation

Binatex is an online broker that offers binary options. Yulanta Business Ltd is the company that owns Binatex, which started operations in 2015. This company operates out of Seychelles, a country that many brokers register with to avoid stringent financial protections standard in other nations. Binatex isnt under the regulation of any of the significant financial authorities like the FCA or CySEC. In 2018, CySEC issued a warning that explicitly stated that Binatex is not under their jurisdiction and has no registration with the regulatory body.

Market Instruments

Binatex offers more than 50 different markets to trade. This can be forex, cryptocurrencies, stocks, or commodities.

Minimum Deposit

In terms of minimum initial deposit, the requirement by this broker is $50, and the minimum investment amount per trade is 1$.. Although this is the reasonable and proper amount, traders should stay away from this broker given the fact that Binatex is not regulated anyway.

Account Opening

Binatex is unregulated which means you do not need a verification of your personal data and you can deposit and withdraw without it. The account is opened in less than 10 seconds. In the dashboard, you should fulfill the personal data section before you start investing.

Trading Platform Available

Binatex offers its users a proprietary trading platform for trading binary options. The platform is web-based, and the layout is intuitive.

Deposit & Withdrawal

Available payment methods for traders to deposit and withdraw funds include Credit/Debit Card, Bank Wire, Yandex, and WebMoney. The minimum deposit and withdrawal amount are 10$.

Customer Service

Binatex claims that it offers a customer service 24/7, and their customer support team can be reached through email, telephone.

Disadvantages: