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.
I have made a few trades with Binary Online, then I wanted to get out of Binary option trading, so tried to withdraw €162 they wrote an email to me explaining that I could not withdraw €162, but if I continued to trade and get it up to €300 or I could withdraw €250 now, so I decided to withdraw €250, the sum I deposited when I joined, then I get another email, telling me that it is in their rules that I have to get confirmation from my Expert Trader who has been trying to telephone me without reaching me, so I emailed them yesterday and gave them my number and the time to ring me, they didn't ring, so I sent another email and gave them another time today to ring, they still didn't ring, no emails either, so I am waiting for developments!!!!
I have a bad experience also with this company. I initially invested 250 usd and added another 5000 usd because the broker name Jonathan Levin convinced me to. I'm new to trading and was not able to do my due diligence. That I regret.
I had been requesting for a refund since Feb 2017 but they refuse to give me back my money. Different rude "managers" keeps on calling me to start trading but I consistently told them that I want to refund my money.
Recently, I filed a complaint to my CC company and Visa is hunting them and filing a chargeback. Binaryonline called me and insisted that I sign a consent letter about the transactions I made with them. They even told me that they are going to bring this to the court.
I ask for their broker license no and company registration to prove that they are legal because that what they are claiming repeatedly but none was provided to me.
There is an ongoing investigation because of the complaint I filed.
I would suggest new investors to do their homework before investing to this company but at the end of the day its still your decision.
Last November 2017 I gave them my savings £20,000 as they said it would double in no time. I explained to my account manager Andy Klein that I needed this amount in March end of April 2018 at the latest, to go towards a house. He set up two accounts for me, one to be a normal trading account which I he wanted the funds to be in small amounts of £5,000 and the other account he set up for me was their 10% cashback programme and had to be a minimum of £5,000 investment, which he said would run on its own and give me a wage every month. Several weeks during Feb through to March I didn't hear from him even though I emailed and sent several skype messages to call me. The number I had for them would not connect. I needed some funds for an emergency in February so requested a withdrawal of £5,000 on the platform and in email. Andy phoned me the next day to say he had approved £2,000 but the rest was needed to leverage my account. I didn't understand really but I said I trusted him to do right by me, knowing my circumstances and accepted the £2,000 back. Later I began to panic as the time was close approaching my having to fund my house and I couldn't always get hold of him, so I decided then to withdraw my money. They won't give it to me unless my account turns a certain amount of trades I think 90 was the figure thrown but by then I was so emotionally upset I didn't take in all the information. Andy phoned me shortly after and assured me all would be well and to trust him, so he'd phone once a week and arrange for trades to placed. He didn't always phone when he said he would and I grew increasingly worried I wasn't going to make the date of meeting my estate agent. Later still and a few weeks before I was to meet the agent for my house I emailed support requesting my money back, as was agreed with Andy and thanked him for his help but I needed it then, for my house. I then received a call from a Peter Thompson, who he said was a senior manager and would be taking care of my account from then on. I explained what had been agreed with Andy and apparently it's not policy but Peter said I will get my money and mentioned about the account having to qualify first by a few trades and for me not to worry that I would be ok for my house end of April, so I reluctantly agreed. Well, having lost my first house but since agreed with the agent on another rented one instead, I agreed to pay a years rent in advance end of April 2018 if they reduces it slightly and they did. I paid a deposit £2,500 to secure it. March came and went and the first week of April I had to tell the agent yet again I couldn't pay for the year upfront as an investment hadn't come through but was due end of April. The owners were waiting on the full amount and were annoyed I broke their first agreement so they asked for two months rent. I had to borrow it from friends but I moved in April 28th 2018 with the proviso I would pay the balance end of June. I'm still trying to get my money back from Binaryonline and still dealing with Peter and although he doesn't call me when he says he will, I remain optimistic because I don't know how else to feel, apart from numb, shocked and stupid to have been taken in. Reading these other posts fills me with dread now in that I may never get my money back and I'll be kicked out of my house. I'm a middle aged woman with only good faith in people and this has turned my world upside down and I can't stop crying,
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.