August 2018: There is an FPA Traders Court guilty vote against this company. The FPA recommends extreme caution dealing with BinaryOnline until this issue is resolved.
2018-01-26: The Estonian Finantsinspeksioon has issued an alert against Binary Online. CLICK HERE to verify.
2017-07-14: The Monetary Authority of Singapore has issued an investor alert against BinaryOnline.com. CLICK HERE to verify.
2016-12-14: The Canadian BCSC has issued a warning against BinaryOnline. CLICK HERE to verify.
Related sites include Trader.Online. The other websites of this company BinaryOnline.com. Finarix.comis part of Zolarex Ltd group. Known members of this group includeMProInvestment.com, PrimeFXMarket.com, MliningInvestments.biz, OrangeGlobalInvest.com, WebFXTraders.com, OptimalProTrade.com, VertexTradeOptions.com,UltimateFXTraders.com, AthenaOptions.com.
Well I think I just lost 250 Euro, I can't withdraw I did some trades but decided not to trade with them beause I am not very fond of their platform, you can only get your money back if its 450 euro and a lovely processing fee of 50 Euro. I already tried 4 times and all I receive are weird mails
Previously BinaryOnline, rebranded to Finarix in Feb 2019.
I had a comically bad experience with BinaryOnline before, and following the call from the Finarix representative this morning it looks like it's the same people still working their scam. I've dealt with them for over 14 months, and felt I need to leave this review as the new company probably think they'll get away with a clean sheet and no bad review baggage. May this help innocent folks look elsewhere with their hard earned money.
So here are some things that you need to look out for:
- Once your money is in, it's near impossible to get it back. From my $30,000 deposit I made an initial small withdrawal to test things out, which worked fine once "approved" by their finance department, but subsequent attempts had the most incredible excuses and rejections. You can try get your money back through VISA or Mastercard if you paid by card.
- Whatever you do, do NOT accept a "risk free trade" or a "bonus trade". This is where they hook you and your money then becomes their money before you can say "unethical scammers".
- They are based out of Bulgaria are not regulated by anyone like the FCS. They operate by their own laws. This morning I had a call from someone there who told me that "there's not enough activity on your account, we have to close it because of money laundering regulations." I said I completed a winning trade for $200 6 days ago, does that not count? The person replied "No there's still not enough activity on your account". The conversation ended with him telling me "Good luck losing your money". You can't make this stuff up. I've resigned that I'll never get my money back, and just trade there for practise as you would with a demo account.
- You will have the most incredible conversations with people trying to pressure you into whatever their latest "product" is, usually algo trading, and they will use pressure tactics and eventually aggression to try convince you to invest more money. They will pass you from one account manager to another over time, and they will all one way or another pressure you to invest more money.
- The two biggest con artists in their team are Viktor Bokrov and Peter Thompson. Both I believe are using fake names (some of the BinaryOnline reviews calls this out as well) - I thought I'd leave the names here should someone google them that they at least get a heads-up not to trust them.
Another thing I noticed is that they will never put anything in writing, it will only ever be a telephone conversation.
Hopefully this will be helpful to someone. The last review I left for BinaryOnline here magically went away after a couple of days, I've copied the text this time and will put it on other sites as well should this one vanish.
BinaryOnline are fraudsters and will not allow you to withdraw
Same for me as other binaryonline victims - was directed to deposit £250 into binaryonline when using the autotradingrobot software (the software is from a source I did, and still do, trust).
Traded a few times but have since focussed my attentions elsewhere so decided to withdraw my remaining funds - £189.25 minus the processing charges etc etc - but still waiting... initial request was placed 14/08/17 but they keep getting cancelled by binaryonline and more hoops placed in front of me to jump through - such as my account supposedly being dormant and that I need to place 5 trades to reactivate it before a withdrawal can be made etc.
I have spoken to many different 'expert traders' & 'recovery team members' following my withdrawal requests (a necessary step apparently) who all try to convince me to let them trade for me - all offers politely declined of course.
1 trader has found this review helpful
Jul 24, 2018,
i'm professional an see what they did
Hi (im gonna post with picture in Forum)
My name is Vasco and i am profissional trader. I have my website, i am mentor and teach people how to trade.
Regards this broker doesn't have regulation i deposit the minimum.
And i have no problems to increase, i am a very aggressive trader and i pass from 250€ to 20k€ in less than 2 months.
1- my account was under investigation because i'm a suspicious and fraudlent guy.
2- this excuse is very funny. Do you know when you place an order and you have 2 seconds to cancel?? I have abuse from that feature themselves give to traders. ahahaha
3- i have to place 15 trades a day during a while to prove i didn't understand what! Or to deposit more. I thought to loose something intentionally, about 10k and they will think "ok, we'll give this one to him and block him" . . . mistake of mine.
4- the block and delete my account.
5- after 1 or 2 months i receive an e-mail saying to reset my password (probably them mistake) and i have access to my account. Was good to take some prints and poofs i will expose them in a post.
6- they say my account was dormant because i hadn't trade. "off course . . . . you blocked me, REMEMBER"???
7- i've tried to contact them and hadn't no more answers and i'm deleted again.
8- i forgot to say, this SCAMMERS ASKED ME TO TEACH MY STRATEGIES SAYING IM BETTER THAN THEM ANALYSTS. What a shame!!!!!!
Please . . . Stay away from this scammers
And sorry for my English, is not my native language
They are calling me by cell phone and they are too much insistence to make you make deposit, this is very unpleasant...
I arrived to them because I was trying a automated trade system, and the system give the option to open account with them to use it for free, but I'm sincerely regretted to started this
I opened my account 3 month ago with 250€. Helen Hart was my account manager (or thief as I would say). 4 weeks later I decided to close my account because I had to change my life completely and I realised that I will not found time to trade online. I contacted them and I send them all required documents. A few days later I tried to sign in my account. For my big surprise instead of withdraw my money they closed my account. Now they ignore all my calls, my emails and anything else... anybody any ideas what i can do?
1 trader has found this review helpful
Pretoria, South Africa,
Apr 28, 2018,
Binaryonline will not give you any money back
I made a $500 dep and they gave me a $500 bonus, after the broker told me to put $500 on gold I lost it,then I made some profit and try to withdraw some of it with no luck, they told me to make thirty times the amount of the bonus , so after a couple of tradings I made $32OOO !!!! Trying to withdraw they came with some lame excuse telling me there was a problem with the market and platform so they just took $32000 out of my account and left with $1700 and told me to start trading with that again. How can they just take your profit and made some excuse up. THEY ARE SCAMMERS.
I used firstname.lastname@example.org to register on their site
Moeketsi: I deposited $250 on binaryonline to trade using BinaDroid, I was left with $194 when I requested withdrawal some two weeks ago. My account is verified but they are giving me the run around. Please I am asking for assistance. Moekestsi@gmail.com
I started my account in December 2017, my supposedly account manager Victor Bagrov ( who doesn't respond to my emails anymore ), was contacting me many times a day to increase my investment from USD500 to USD20'000 to have a better profit margin. I refused, the after few weeks, he contacted me to join a program called Algo, the investment will be automated and high profit margins will be expected, but in order to enroll, I will need to deposit a further USD4500 in order to have a total of USD5000 in my account, I was sent a contract, that looked so unprofessional, after correcting it, I signed, and had to chase up my copy for weeks. I thought its too late to back off, so lets see where we will end up, the software of course shows you tons of profits, the software made 45% of profits in about 3 months, when it was over, Victor called me to say that in order to continue, I will need to have 250K in my account, I was even going to fall for that, then I thought, let me try and withdraw some money out, and that’s when everything got exposed, first they said I had to wait 30 days because of the contract, while that paragraph referred to the cancelation of the software, you can't cancel it when its finished already, I waited 30 days, and approached them again 1 month later, for them to tell me that my account is in a dormant state, and I will need to do 5 trades in order to take it out of this state and my money will be transferred. I did follow there rules, and after the trades, I made more money, and now I have 12'559.61 in my account, yet nothing is being transferred, I contacted them many times through there chat support, ( this and email are the only ways of contact available!) and they tried to stall me further by saying that my case was escalated to the investigation team, then to top management, later a guy called Peter called who promised to sort things out, he did not! I start to get emails from all sorts of departments, who apparently are not talking to each other, and I keep on getting a different reply from different individuals. I have sent the final email stating that unless all of my funds are transferred, I will follow up this matter legally, I have all the documents, emails, live chats, and screen shots available for more details.