FXBinary Lite Review: Fxbinarylite.com Forex Scam Shown
FXBinary Lite (Fxbinarylite.com) is an all scam Binary Options, CFDs, Forex, and Cryptocurrency scam. FX Binary Lite is claiming to help traders make more money with the use of their innovative platforms. Some of the services they profess to offer include Crypto investment and mining Cryptocurrency. Investors who signed up a while ago are now facing withdrawal issues. Read this genuine and honest FXBINARY LITE Review and get the truth.
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FXBinary Lite Review
After receiving numerous complaints from members of the above platform, we decided to investigate. Most of the complaints centered on the platform’s inability to release funds. And this is a classic scam trick used to throw off investors. After weeks of trying to withdraw funds, members eventually give up. In more severe cases, members find their accounts blocked without any reason given. FXBinary Lite is another scam platform that must be exposed for the greater good.
Professional scam artists who target unsuspecting investors ensure they use near-perfect sales tactics. What they do is create a compelling website which looks like a genuine trading platform. Scam artists will CLONE read trading websites and use information copies on their illicit website. And this is what FXBinary Lite is doing to unsuspecting online investors. Ensure you get to know all the tricks used as we expose all of them. Thanks to our years of investing and trading, we know how to spot a scam from a mile away.
About FXBinary Lite
According to their about us page, they claim FXBinary Lite is a unique broker using a custom-made platform. The disclaimer at the footer of their homepage claims they have over 30,000 new users. These are some of the empty claims and promises posted on their illicit platform. If this platform has this number of sign ups, the platform would be well-known. No professional broker or expert investor seems to know this platform. And it is clear we are dealing with a sleazy online scam outfit.
Another disturbing feature we noticed with the platform is lack of clear ownership details. No one knows the names of the founding members of this platform. Another serious issue we spotted is lack of clear information regarding the people running the day to day activities. FXBinary Lite is clearly a rotten online scam platform out to steal from unsuspecting investors. By exposing their rotten platform, we hope to keep the online trading world safe from such scammers.
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Is FXBinary Lite licensed or regulated?
FXBinary Lite is NOT LICENSED OR REGULATED by any official regulatory body. The company behind this website claims to be located in the United Stated which is a lie. The National Futures Association is the regulatory body mandated to offer trading license. Getting a license from the NFA is hard as the requirements are not easily met. Platforms must prove to have a minimum of $20 million starting capital. By the look of things, FX Binary Lite is not in any way able to meet these strict requirements.
Another serious issue we must raise is in regards to having no license documents. A real trading platform will post copies of their license documents for all to see. Why is it nowhere to be found? The disclaimer at the footer of their website does not have any license or registration number. And this is proof the platform is not compliant with set industry regulations. You can easily lose money by just depositing funds to them.
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Advantages of FXBinary Lite
After combing through their entire website, we could not find any advantage of dealing with this platform. With the number of complaints coming in, authorities will surely shut down the website. The website is full of empty claims and fake information. FXBinary Lite is meant to throw off investors into signing up with a scandalous platform. Ensure you never associate yourself with their sleazy website. Any interaction with them could be catastrophic in regards to your finances.
Disadvantages of FXBinary Lite
Account types
FXBinary Lite is NOT FURNISHING users with any account type which is a bit odd. The platform does not disclose whether they offer users a one account type. Another serious issue with the platform is lack of clear information regarding minimum deposit. By failing to give users such vital information, it gives these scam artists the chance to ask for any amount. Investors should know that the industry has set $250 as the acceptable minimum deposit for trading.
Client Testimonials
When you scroll down their homepage, you will come across client testimonials. One of them is Tony Pierre who claims everyone gets a personal account manager. You should know that scam artists will do or say anything to make their platforms appear legit. In most cases, they post dummy or stock photos and match them with names. The character Tony Pierre has been used in many scams. These are scam artists who will do anything to fool investors into believing this is a worthy platform.
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Demo Account
Another issue with this platform is lack of a working demo account. A true trading platform will give users a chance to test how well their platform works. FXBinary Lite does not offer traders this chance which is worrying. A smart investor and trader know a demo account gives users an advantage. You get to know the leverage and spread available as well as how fast the platform executes trades. Without a working demo account, users are signing up blindly. Stay away from untested waters.
Trading platform
FXBinary Lite is claiming to have own custom-build platform. The problem with such platforms is lack of proper security measures. These are loopholes which will later come back to bite on members. Hackers can easily steal vital information such as credit card information. The platform is a security risk and a target for identity thieves.
Safety of funds with FXBinary Lite
Another issue we found with FXBinaryLite is in regards to segregation of accounts. Without it, members are depositing funds straight to owner’s bank account. Any platform that pools funds in one bank account is risking the funds of its own members. In the event of winding up, members should not expect any compensation. FXBinaryLite is a crude platform whose sole intent is to sign up unsuspecting investors. Make sure you stay away from this platform.
Scam or legit
Evidence clearly shows we are dealing with a platform which is not complaint. FXBinary Lite is a scam waiting to pounce on unsuspecting investors. Mark all their emails as spam and never click on any links sent by their marketing team. Warn your family and friends from joining any of their affiliate programs. Authorities will soon shut down the website.
Final thought
We will be adding this platform to our scam blacklist and ensure our readers are aware of the risks.
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Wishing all investors a lucrative and safe trading experience.
March 3, 2020 @ 8:21 pm
Wish I would have read this several months ago! They scammed me out of thousands of dollars promising to release profit when I paid for an Upgrade. Each time I tried to withdraw money, I couldn’t until I paid for Upgrade. One I paid for upgrade they wanted more money! They need to be shutdown. Do not send money to them! If someone know of an attorney who helps with these types of cases, please let me know!