What you should be getting with Binolla is reliability and innovative technological solutions in the field of online trading. This broker promises their advanced tools will give you an edge on every market and turn you into a Forex ace. Little is generally known about this firm, except that it operates from a Saint Vincent and the Grenadines address.
The majority of our audience probably knows by now what that means in terms of trustworthiness and reliability of a broker. For those of you who aren’t familiar with the nature of SVG-based firms, we recommend you to read this Binolla review.
No particularities concerning this broker exist on their website. Besides the St. Vincent and the Grenadines address, we can’t find out about a license or any regulatory information. One important thing to note is that even if the company were to be registered in SVG, they wouldn’t have a license. The FSA, primary regulatory body from SVG, doesn’t regulate VASP companies anymore.
This broker, as you will see later in our Binolla Review, only offers Binary Options Trading. This kind of “trading” has been banned in many countries, because of how it blurs the line between financial speculation and gambling.
The CTFC from the US does allow Binary Options Trading under certain circumstances, but Binolla is not on the list of licensed entities. Searching the registers of BaFIN, FCA, CySEC, FINMA, ASIC, CBR and other regulators has proven fruitless. We do not recommend trading through Binolla, no matter how lucrative their offer seems.
There are very few legitimate brokerages that offer Binary Options Trading. It isn’t just the avid risk takers that prefer this method of speculation. Due to the inherent simplicity of Binary Options, many rookies fall for the trap easily.
The Boiler Room Agents employed with Binolla are more than happy to push these people into the pit. Binolla Boiler Room Agents are active on every social network. This bogus broker has a social profile on Facebook, Instagram and Telegram.
Binolla has only been established in 2021. Because of the specific type of service they provide, that being Binary Options Trading, they have managed to swindle a large number of people. It is also because of this that they only operate in areas with loose financial regulation.
Here are the nations where Binolla scam is most active:
We are aware that Binolla is a dangerous unlicensed entity. If you have troubles with Binolla Withdrawals, contact our legal experts for help in resolving your issues.
Truth be told, Binary Options Trading does not require a very sophisticated trading platform. The software Binolla uses is the Web Trader. The lack of a discrete 3rd party software like cTrader, MT4 and MT5 is very concerning with any broker.
The presence of these programs doesn’t mean that the broker is legit, however, as scammers like LBLV are also known to use them. This is why we always recommend checking the company regulations first.
All licensed brokers offer a good selection of trading instruments of every different type. They know that diversifying is important with any market speculation. Binolla only offers a single type of trading asset, and only offers speculation on Forex pairs. There aren’t many Trading Instruments even in this single category.
Take a look at some of Binolla Trading Instruments:
Nearly every broker out there, licensed or not, offers a variety of different Trading Accounts. FXGlobal has 3 different Live Accounts, for instance. Although you can create a Binolla Login with your Google account, we strongly advise against this. The fraudsters can use your account information to gain access to your data.
Here is an outline of the Binolla Account:
There is a Demo Account with Binolla, but it’s not free. The account costs $100 to launch, has limited resources, and cannot be used to withdraw profits. This completely undermines the whole purpose of a demo, which should allow for risk-free speculation. Binolla is not a legal company, so we didn’t expect any better from them.
Unfortunately, we couldn’t find any information on how Binolla charges their clients’ accounts. There is no data on any fees, either for a deposit or a withdrawal. Neither the website, nor the Web Trader have any numbers pertaining to Spreads.
The Terms & Conditions are as lacking as other parts of the platform as well. Because Binolla doesn’t openly disclose these conditions, they can charge any amount they like and bleed you dry in an instant.
Interestingly enough, the Binolla Terms and Conditions mention a bonus in a few instances. They even claim that the awarded bonus can be approved for payout. Other than that, there’s no other information really. The website doesn’t have any advertisement about a bonus or a special promotion.
Binolla has disparate information on their deposits and withdrawals. The website advertises many different payment options which are not available in the Trading Platform. This is done on purpose to confuse the clients.
Many scam brokers are known to outright block a payout or ask for additional funds in advance. Binolla withdrawal might incur similar problems.
Binolla is a dangerous illicit broker that offers Binary Options that are banned in many jurisdictions. This broker is not very popular online, and there are no client reviews about their service. The platform can only be described as barebone, and there is only a single trading account available.
We have already helped a large number of people recover their funds from scams just like Binolla. If you have deposited with Binolla, we advise you to consider legal action as soon as possible. Our recovery experts are available through the Live Chat, and you may book a free consultation at any time.
Binolla is a dangerous offshore entity. The company offers Binary Options Trading, which is banned in many regions of the world.
Binolla is an unlicensed company. They are unregulated, and do not implement any of the safety standards many jurisdictions require from their brokers.
Our legal experts can help you with charging back lost assets from Binolla. Contact us today and book a free consultation through the Live Chat.
The post Binolla Review – The Breakdown Of A Binary Option Trading Scam appeared first on Global Fraud Protection.
