Binex Review
- Excellent trading platform
- Wide array of tradeable assets
- Good customer support
- Reliable and trusted
- Primarily for Russian traders
- Lacking information
Binex is a unique online trading brokerage that specializes in the offering of binary options trading to traders primarily from Russia. The brokerage was founded in 2012 and is owned and operated by Binex Ltd. with their company headquarters located in Moscow, Russia at Dubininskaya St., 17, building 3, office 214. Currently, Binex is the only licensed binary options trading brokerage in Russia and is regulated and authorized by the Financial Market Relations Regulation Center (FMRRC). As well, Binex has passed the voluntary certification of CROFR, obligatory certification in regulators in the territory of the European Union. Therefore, Binex can be trusted to provide competent and reliable binary options trading services in Russia. Another aspect about Binex is that they offer very high payouts that are competitive with the industry standards from 70% to 89%. Binary options trading is often viewed as a skeptical and highly speculative trading endeavor that has a rather large history of fraudulent scam brokers participating in it. However, how does Binex fair as a binary options trading brokerage and how do they stack up to the competition? Let’s find out in the following review where we analyze every aspect of this trading broker and discover whether or not they can be trusted and the level of services they provide.
Trading Platform
Binex features an outstanding proprietary web based trading platform that has been designed from the ground up specifically for binary options trading. The platform is intuitively designed with an easy to use and understand interface that adheres to the needs of beginner traders while accommodating the advanced functionalities used by experienced traders. Traders have access to the most popular tools for technical and fundamental analysis such as a live charting package with TradingView charts. The charting package comes complete with over 70 technical indicators, 17 different time frames, 3 chart types, and numerous drawing and analysis tools. Also, traders can access an economic calendar that’s used for fundamental analysis, create watch lists, news alerts, and more. Also, traders can conduct all of the advanced binary option types such as Call/Put, Touch, Range, Spread, Express, and Turbo. Overall, the trading platform featured by Binex is of excellent quality and operates in such a way that both beginner and experienced traders can appreciate.
Exchange Markets
Binex Traders can participate in the trading of over 190 tradeable assets across the global markets including forex, stocks, commodities, indices and cryptocurrencies. To trade in these markets, users must first register an account which takes only a minute and then fund their account with a minimum of $150 via Visa, MasterCard, WebMoney or QIWI. When trading the various financial assets offered, the minimum trade amount is 120 RUB and the potential return on investment is a potential payout of 70% – 89%.
Fees and Commission
Binex offers their traders very low and favorable fees. As far as we could tell, the only fee imposed on traders is a withdrawal fee of 4% for basic accounts. As for trading fees there are none. Binex offers their traders commission free trading on all account types and they do not state any other associated account fees. Also, VIP accounts benefit from zero commission withdrawals and therefore incur no trading fees at all. We find this hard to believe, as the only way for Binex to profit is for traders to lose on their trades. All in all, the fees and commissions are quite enticing to traders if there are no hidden fees.
Security and Fairness
The Binex online trading brokerage has been successfully in operation since 2012 and has thus proven themselves to be a safe, fair, and reliable binary options trading brokerage. The broker is licensed and regulated by the Financial Market Relations Regulation Center (FMRRC) with certificate CPF RU 0395 AA Vv 0096. As well, Binex takes both AML & KYC information very seriously and protects their clients personal information with advanced SSL encryption technology. It is unknown whether client funds are held in segregated bank accounts, but we came across no negative comments or reviews about stolen funds. All in all, it appears that Binex is a safe, secure, and fair online trading brokerage.
Support
Binex provides their customers with dedicated support that’s available 24 hours a day, 7 days a week via telephone, email, and live chat. Currently Binex only provides support in Russian and English and the English support is provided as a second language. It’s quite obvious that Binex is strongly focused on the Russian speaking market and caters to their Russian customers. Additional methods of support include contact via the brokerages social media channels including Facebook, YouTube, and a couple of Russian social media channels. Also, customers can view the Binex FAQ page and blog for further information regarding the broker and the markets.
Conclusion
Binex is a well established binary options online trading brokerage based out of Russia and primarily serving the Russian market. The broker is very reputable in Russia and is the only licensed and regulated broker authorized to provide binary options trading in Russia. Binex’s trading platform is high performing and intuitively designed making for an excellent trading experience for both beginner and experienced traders. The trading fees imposed on traders are quite favorable and the extent of tradeable assets offered is more than sufficient. All in all, the Binex online trading brokerage is a reliable and trusted binary options broker and we highly recommend Binex to Russian traders looking to trade binary options.
Binex Q&A
The following are the common questions that customers inquired about Binex.
Is Binex regulated?
Yes, it is regulated by the Financial Market Relations Regulation Center (FMRRC).
Is Binex a scam?
No, Binex is a legit broker and it’s licensed in Russia.
Where is Binex based?
Binex is based in Moscow, Russia at Dubininskaya St., 17, building 3, office 214.
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