Binany foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.binany.com, about the company's legal and temporary regulatory information, the company's address .
Binany, established in 2018, is a binary options broker that operates under the ownership of Cry Pex IT Ltd, with its headquarters located in Saint Vincent and the Grenadines. The broker primarily caters to clients from various regions, including India, Bangladesh, Kenya, Sri Lanka, Myanmar, Pakistan, and Uzbekistan. Since its inception, Binany has focused on providing a straightforward trading experience for binary options, appealing to both novice and experienced traders.
The company's development has been marked by significant milestones, including the establishment of its online trading platform and the expansion of its asset offerings. Despite being relatively young in the brokerage industry, Binany has managed to attract a substantial user base, reportedly exceeding 3.9 million clients by 2023. The platform offers a range of financial instruments, including binary options on currency pairs, cryptocurrencies, and commodities, which positions it uniquely in the trading landscape.
As a private entity, Binany operates without the oversight of any regulatory authority, which is a critical aspect for potential clients to consider. The broker's business model revolves around retail forex and binary options trading, making it accessible to a broad audience seeking to engage in speculative trading activities.
Binany operates with no formal regulation from recognized financial authorities, which raises concerns regarding its credibility and the safety of client funds. The broker is registered in Saint Vincent and the Grenadines, a jurisdiction known for its lenient regulatory environment, which often attracts offshore brokers.
The lack of regulatory oversight means that Binany does not hold any regulatory license numbers, and there are no investor compensation schemes in place to protect client deposits. Clients should be aware that trading with an unregulated broker carries inherent risks, including potential loss of funds without recourse.
Binany claims to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, although the specifics of these policies are not detailed in the available information. As a precaution, it is advisable for traders to conduct thorough due diligence before engaging with the broker.
Binany offers a diverse range of trading products, primarily focusing on binary options. The broker provides access to over 20 currency pairs, including major forex currencies, as well as several cryptocurrency options, notably Bitcoin and Ethereum. Additionally, traders can engage in binary options based on commodities, such as gold, and various crypto indices.
The platform is designed to facilitate a simple trading experience, allowing clients to predict price movements within a specified timeframe. The potential returns can reach up to 90% on successful trades, making it an attractive option for those looking to capitalize on short-term market fluctuations.
While the broker claims to regularly update its offerings, the frequency of new product introductions is not explicitly stated. Binany's focus on binary options trading positions it as a retail service provider, catering primarily to individual traders rather than institutional clients or offering white-label solutions.
Binany utilizes a web-based trading platform that is accessible from various devices without the need for additional downloads. The platform features an intuitive interface with a streaming price chart, allowing traders to make quick decisions based on real-time data. However, it does not support popular trading software like MetaTrader 4 or 5.
The broker's proprietary platform is designed to simplify the trading process, enabling users to select assets, define trade sizes, and set expiration times easily. Additionally, Binany offers a mobile application for both iOS and Android, ensuring that clients can trade on the go.
Regarding execution modes, Binany operates as a market maker, which means that it acts as the counterparty to its clients' trades. This model may introduce a conflict of interest, as the broker profits when clients incur losses. The technical infrastructure supporting the platform is not extensively detailed, but it is crucial for traders to understand the implications of using a platform without robust regulatory oversight.
Binany offers a straightforward account structure, primarily focusing on a standard account type with a minimum deposit requirement of $10. The broker provides flexible trading conditions, including:
Additionally, Binany does not offer specialized account types such as VIP or Islamic accounts. The absence of a demo account option limits the ability for potential clients to practice trading strategies without financial risk.
Binany supports a variety of deposit methods, including traditional options such as bank transfers and credit cards, as well as electronic wallets like Neteller and Skrill. The broker also accepts deposits in cryptocurrencies, including Bitcoin, Ethereum, and Tether (USDT).
The minimum deposit varies by account type but generally starts at $10. Deposits are processed relatively quickly, typically within a few hours, although specific processing times may vary based on the payment method used.
Withdrawal methods mirror those available for deposits, but clients should be aware of potential withdrawal fees and limitations. Reports indicate that withdrawal processing can take up to 1 hour, but may extend during weekends or holidays. The broker's fee structure for withdrawals is not transparently outlined, which could lead to unexpected costs for clients.
Binany provides customer support through multiple channels, including email, online chat, and social media platforms such as Facebook and Instagram. The support team is available to assist clients with inquiries, although the service hours and specific time zone coverage are not detailed.
The broker claims to offer educational resources, including webinars and tutorials, aimed at enhancing traders' knowledge and skills. However, the extent and quality of these resources may vary, with limited comprehensive training materials available for novice traders.
Additionally, Binany provides market analysis services, including daily updates and research reports, to help clients stay informed about market trends and trading opportunities.
Binany serves a global client base, accepting traders from various countries around the world. However, the broker primarily targets clients from Asia and Africa, with a notable focus on regions like India and Bangladesh.
The broker's operations are limited in certain jurisdictions, particularly those where regulatory frameworks prohibit binary options trading. Countries such as the United States, Canada, Australia, and most European Union nations are not serviced by Binany, which may restrict potential clients from engaging with the platform.
In conclusion, while Binany presents an accessible trading platform for binary options, prospective clients should approach with caution due to the lack of regulation and transparency regarding trading conditions, fees, and withdrawal processes. Conducting thorough research and considering the risks involved is essential for anyone looking to trade with this broker.
FLAYXNJ
Netherlands
Now not to-do anything special , only one thing to do this margin level show in all amount and same margin level in all currency pair
Positive
2024-06-27
FX1280925788
India
I did have some problems with payment, for my withdrawal requests have not processed so far. They said it is due to my residence policy… I feel scammed.
37130
2023-02-23
Corry
Nigeria
Binance is an excellent choice for traders! Their trading platforms are intuitive and packed with features, and they offer a wide range of market instruments to trade.
Positive
2024-07-12