BinUnion has been operating in binary options trading since 2020, but it has already managed to get a low reputation among Russian-speaking and foreign traders. The service offers simple and fast earnings on predicting market movements – but is it reliable for co-operation?
Registering an account with BinUnion and account types
To open an account with BinUnion, a user needs to enter a login, email and password. After that, the broker will activate a personal account and credit a 100% deposit bonus for an easy trading start. To get access to all the platform features, the client needs to go through the verification procedure, during which managers request passport, bank cards and other personal documents.
The broker does not provide an opportunity to open a free training account and immediately sets strict restrictions for the user. BinUnion’s official website provides information on four types of accounts.
| Account Type | NEW | BRONZE | GOLD | PLATINUM |
| Minimum Deposit | Up to $200 | $200-$1500 | $1500-$2000 | $2000-$5000 |
|
Description of Services | 24/7 support, training centre, limited management | Personal manager, training centre, trading signals | Personal account, unlimited control panel, trading signals | Personal manager, personal training, training centre, unlimited trading panel |
As you can see, the broker is simply unable to provide adequate and detailed trading conditions. What and how to trade here? Are there any other platforms and tools available for work? Fraudsters leave all these questions unanswered.
Withdrawal of funds from the platform – what does the agreement say?”
A separate item, often found in the reviews left about BinUnion, is the withdrawal of funds. Although the minimum deposit is $200, the withdrawal limit is $1000, which is 4 times more than a novice trader can trade. Moreover, the whole scheme is tied to the endless payment of fees, commissions, taxes and other hidden charges.
It is impossible not to mention that in order to realise a withdrawal of funds from BinUnion, the client must conduct a minimum of 50 transactions. There is no guarantee that a broker with such conditions will allow you to conduct enough successful transactions to withdraw at least the minimum amount.
Can the BinUnion broker be considered reliable?
A cheap website, a small period of existence, unaffordable trading conditions and lack of adequate tools for trading – all these facts are already enough to pay attention to other intermediaries.
Nevertheless, there are some more interesting moments in BinUnion broker’s activity that the user should be aware of:
- The company is not registered anywhere. Although the website provides a certificate of incorporation, it has nothing to do with the broker itself.
- The management firm Namelina Limited, which owns the BinUnion service, is officially recognised by the Australian regulator ASIC as a fraudulent money laundering organisation.
- There is no communication of any kind with the fraudsters. There is no online chat, phone numbers or even email addresses on the site.
There is no doubt that the company is an obvious scam. Nevertheless, you can find enough reviews about BinUnion on the web from affected users who naively fell for its tricks.
