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.
These guys are a bunch of Scammers who need to be exposed. Been with them for over a year and consistently trading that account. They always make excuses to release withdrawals.
Its always the same people using different aliases .
I have been building up a case against them.
I would recommend everyone to stay away as you will never see your money again.
Jul 23, 2018 - 1 Star I have also invested funds with them,been with them for almost a year. tried requesting withdrawal over 15 times and every single time they come up with a different story. They keep moving me from one portfolio manager to another.
This company needs to go down!!
We all need to do this together.
Drop your emails and lets all work together in bringing them down, there are many cases against them already. We just need to make them stronger.
If you are reading this is because you have already been cheated
Length of use: over 1 Year
I opened an account at BinaryOnline on 10/05/2017, now called Finarix, totally unaware of the Forex market and much less of the scammers out there. I let myself be carried away by ambition and easy money, I was a perfect idiot and to this day I still punish myself for it. My shame, my stupidity and my indecision have led me to try to negotiate with these gentlemen to this day, but to no avail, basically they get into a strategy to buy me time not to withdraw. My health, family and financial problems have been terrible since I sadly realised I was being cheated. However, unlike most Forex accounts, my account after a bad period in which I didn't notice anything about this market, performed very well, something that this broker certainly didn't want to happen. I started this account with 250€ until reaching 22850€ of investment, after being fooled with a bonus and blackmailed and psychological torture by numerous people of that company to invest money if I wanted to make withdrawals, how could I be so stupid, don't forgive me for that. Until 3 months ago, my account was being traded for a software called "Algotrader", my account until the termination of the contract with the software reached more than € 257,197, started with about € 140,000 through manual trades. However, according to the person who allegedly is or was managing my account "Mr. Jim Holt", to complete the the endless turnover (they started with the bonus 30 times and then demanded the bonus 60 times), i needed to make more than 480 lots in order to make a withdrawal. Obviously I did everything to achieve this and concluded within six weeks 1005.50 lots, with my account reaching Balance of € 381,059.88 and an equity of € 346,240.42, I had open positions in the amount of -34346,42 euros. Two withdrawals of € 20,000 each were requested in June. It was at this moment and after a number of emails sent to the support team, finance department and Mr. "Jim Holt", wanting to know why they were taking so long to process the withdrawal that I was contacted by "Jim Holt", this warned me that I had made a lot of money in a short time and made lots of lots, warning me that my account was going to be analysed in detail. They did so for the third time in the history of my account (Under investigation). I was contacted again by Mr. "Jim Holt" and to my amazement he tells me that I practiced scalping on my account, he sent me an email with 9 trades, 3 of which I made a profit in less than 1 minute and 6 trades placed by my error and closed immediately afterwards without any positive or negative result (0). It should be noted that in about 6 weeks I made 593 trades. It follows that they forced me to close all the trades I had open in the negative amount of € 34346.42 (24 trades), as well as they removed (stole) from my account all the profit obtained in this period in the amount of € 89,240.42 and they warned not to negotiate further until otherwise ordered by them, something that I no longer do until today, because the fear of further reprisals is predictable. Regarding trades that closed in less than a minute, they had a take profit of 30 pips, having explained to Mr. "Jim", that it was impossible to predict or prevent Gaps. Regarding the remaining six trades, I explained that it was a mistake in inserting the pairs and that it did not cause any harm to anyone (I remember that I made 1005.5 lots when I only needed 474.79 lots). Since June 16, 2020, I have had no response to the emails I send almost every day to contact me. In these emails I ask several questions that Mr. "Jim Holt" has not even answered me by phone, namely the definition of scalping and obviously when I can go back to making trades on what I already consider a puppet account. It is evident and clear that I will be facing a large-scale fraud, where financial crime prevails and above all there is also a crime of psychological torture that I think has never been mentioned in the FPA and that affects everyone who claims their rights here. We cannot forget that taking into account Article 5 of the Universal Declaration of Human Rights and Article 7 of the International Covenant on Civil and Political Rights, which determine that no one will be subjected to torture or to cruel, inhuman or degrading treatment or punishment. So we are facing a crime that can be perfectly prosecuted by the United Nations. I reinforce that all this treatment given by Zolarex Ltd. (Finarix / Binaryonline), had caused me irreparable health problems. For God's sake don't trust these people. Health to all because mine is no longer what it was.
Withdrawal still not approved- (verified account and phone call made)
Almost the same happened to me like ARNOT,
I haven't accepted any bonus, of course!
I deposited 250 pounds and then traded with a software (Epix Tader)-which required a broker account with binary online).
After a while, their web page has changed and was unable to log in to my account with the same e-mail. I had to create a new one and after I couldn't log in to my software anymore.
Ok. Then traded a while on their platform and lost some money, in the end, I decided to withdraw my money.
They required a phone call, too -to verify I am the person who is actually withdrawing my money and not a fraud person( Of course it was an occasion to make you stay with them and treat you like a child).
So I have been waiting for my phone call so long and then a lady rang me telling me their service is so good and trade with Disney...absolutely ignored my request!
That was the second time they called me with the same marketing bs and the same thing happened. Marketing, marketing.....
Mw first withdrawal request is declined and the second is still pending, however, I confirmed my intention to get back some of my funds.
I reported the case to Action Fraud and will take some time to investigate the case by the police. I am sure I will get back my deposit, as far as I have deposited with debit/credit card. This is the one thing I know and would like to prevent anyone else to become a victim.
Don't choose them as a broker. Someone who I have trusted suggested them and now, the best thing is to READ THE COMMENTS here in FPA, and listening to no-one. I WILL NEVER DEAL WITH SMALL BROKERS again, this is my 3rd time they fraud me!
First: PWR Second: CT Option and now: Binary Online
PLEASE DON'T DEAL WITH THEM!
I consider myself a smart person but got frauded! so always rely on more and more comments and FPA reports.
1 trader has found this review helpful
London, United Kingdom,
Sep 17, 2019,
Service use: Live
Length of use: over 1 Year
I have been with them for 3 years, they have never allowed me to withdrawal. At all, they have passed me on to so many account mangers which I have reason to believe are the same people with different names, my account manger steward poles did not inform me of the bonus policy and told me to agree before finarix sent it to me, once I found out he quickly turned form being nice to evil. And finarix blames me. Now my new account manger which I think is the same person dan Morris as refused to call me and said we communicate through mail. This is a scam, I wish I had theses reviews when I opened an account and when I deposited again this summer.
This is the new name/brand for binaryonline.com, a scammer broker that kept € 6800,00 from my account to themselves, and scammed many other users. I suggest people to not work with them as you will probably lost your money. Please check the reviews for this scammer here in FPA to get more information.
Ript off 2500€ at 26/2 still no withdrawal allowed. crime of criminal association crime of embezzlement
Today 26/2 Still cannot withdraw my capital. Thay do not process my request, always new excuses.
Danger stay AWAY
Feb 24, 2017 - 1 Star Yet still excuses........ they are taking time. Withdrawal allways in pending state.
Stay away from this unhetical BULGARIAN broker, it's impossible to witdraw your money.
Feb 22, 2017 - 1 Star Fell into their trap. Angelina Bloom convinced me to pay more money to have more trading room, up here no suspects. The first question I raise when I made a protected operation, that is of course gone bad, (she does'nt have reversed nothing of the protected trade) ---- < this is the signal that something is wrong with this company. HAhahaha they claim to be grater then BankDeB...... I started a withdrawal and of course was denied for 5 times. 5 times I have been assigned a personal new trader who has tried to get me to work with him with blackmail, (I send € 2,000 if you work with me). ...... NO absolutely NO Now the last withdrawal request was canceled, with causal (postponed next month).
Crimes committed so far. Blackmail Misappropriation False in violation of their rules. 6 or more employees all equal = conspiracy
Think to open an international police complaint for cyber crimes.
Feb 15, 2017 - 2 Stars From 02/07/17 I was driven to this broker from BinaDroid, After a a few trades I interrupted the activity to avoid falling further damage. I sent the request for withdrawal. ( processing time 3d ) They seem not hearing
todate 2/15 still nothing I'm awaiting developments.
Me and my parter cannot withdraw our 6k investment. Not only do the account manager hound you on the phone to keep adding funds, stefani Wakefield swore blind if she gave me a 2k bonus that I didn't want it doesn't commit me to anything. Low and behold it commits me to trade 30 times the 2k to reach at least 60k. I did that and suddenly now it's 75 times and 150k. I had Peter Thompson call to explain. He also called my partner and told her he was josh Watson.
When I first allowed binary to take 3.5 k from from account they actually tried 5k and my bank blocked it.
No one at binary gives me answeres except to say Peter Thompson can help. My partner and I caught him and recorded him leaving her a voice message one day saying he is is Peter than recorded his phone call to her the day after saying he is josh. He also called me saying he was Peter. Total fraud and a scam and can't hold anyone accountable and trying to get money back through banks.
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.