Home » Binany Review – Binany.com Broker

Binany Review – Binany.com Broker

Binany Review - Binany.com Broker

Everything is evidently not quite correct with Binany. The website is not well structured, the name is very goofy and juvenile, and the website tries to make its services seem light and bearable while things are very suspect in fact. The reality behind Binany is revealed in this study.

We registered with the utmost ease and were granted access to a dashboard area with a working portal instantly. Centered on the terminal exposed to us, Binany is certainly a binary options dealer. In addition, this binary options trader is geared towards more exotic countries, judging by the VPN we used and the base currency choices. Like base currencies, there is no EUR or USD.

Binary options traders encourage consumers to gamble about whether the price of a specified commodity descends or ascends for those that do not know. Basically, it’s gambling on financial instrument pricing. No spread and no debt sums are open. On forex currency pairs, ETS, Indexes, OTC, cash, and cryptocurrency, users can bet. However as of writing this study, some of these were inaccessible. We assume there has been a problem with the site.

It is possible to translate this website into Arabic, English, Malaysian, Vietnamese, Thai, Indonesian, Spanish, Portuguese, Uzbek, French, and Afrikaans. Our hypothesis that Binary is targeted at citizens from more exotic countries is verified by language selection.

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Binany Review - Binany.com Broker

BINANY Legal Status and Regulation  

There are two important items, all revealed in the Customer Arrangement, to be discussed here. The first is that the location where Binany’s facilities are given is in the Seychelles. The primary FX regulator in the nation is the Seychelles Financial Services Authority (FSA). Sadly, Binany is not listed on the list of controlled agencies of the FSA.

The second item of significance is the role of the company’s management in Cyprus. In this European republic, granting licences to want-to-be brokers falls into the hands of CySEC, one of the FX industry’s best regulators. Rest assured that Binany is not subject to CySEC regulation.

In comparison, there is obviously no mention that the business is regulated anywhere. These above statements only talk about somewhere being registered by the corporation.

And thus, Binany does NOT Possess A Certificate and is therefore providing trading facilities for unauthorised binary options.

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When you invest in an uncontrolled dealer, you may as well be tossing your capital out the window. We advise all readers, before doing so, to apply for a licence. It’s imperative! Typically, the people who have an FCA and/or CySEC licence are the ones for you so what they do is better for these two regulators!

These two watchdogs, along with other regulators, have a lengthy list of essential criteria in their administrative arsenal that must be fulfilled by all brokers and must continue to comply with until they are approved. More compensation funds have been included by the FCA and CySEC, as well as others. Both users of brokers under these agencies would then be reimbursed if the brokers become insolvent, up to a stage.

DEPOSIT/WITHDRAW Approaches IN BINANY

The only way to deposit funds into an account, depending on the payment area, is via DusuPay, which simply enables users to deposit with a card or a bank transfer. 300 NGN, or Nigerian Naira, is the minimum deposit. This is equal to $0.79.

The withdrawal form is the same as the one that is deposited, but DusuPay can only be withdrawn through bank transactions from DusuPay. The minimum withdrawal number, according to the terms and conditions, is $15. Within 3 days of the request being made, the funds are transferred.

Prior to leaving, there is a turnover amount that must be reached. If the customer withdraws before satisfying this condition, 20 percent of the withdrawable sum would be paid to him or her! “The terms and conditions describe “turnover” as the total of all deposits performed by the consumer after the last payment was deposited into the account,” implying that in order to exit, the consumer would refund an amount equal to all of her prior transactions from the last deposit. It’s frustrating, but it shouldn’t annoy consumers too much because first of all, they shouldn’t be deposited here.

This is an uncontrolled enterprise and as such, your money can not be trusted! Oh, keep away!

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