What should I do if I was scammed by a Binatex broker?
In case you have been scammed by Binatex, read this Binatex review for money back solution
What is a broker Binatex?
Binatex was an online trading brokerage from Cyprus that provided binary options trading. With the official ban of binary options in the UK and EU in 2018, companies had two choices – to adjust and switch to Forex and CFD trading, or shut down completely. Since binatex.com has been shut down, let’s go together through this Binatex review and see how you can get your money back.
How can Binatex take your money?
As aforementioned, Binatex was a binary options broker. The company used a web trader for trade execution, and the minimum deposit requirement was $10. All that sounds standard for a binary options company. However, Binatex was not regulated and had no authority to provide financial services.
Many investors involved with Binatex would see an online advertisement from Binatex promising 70-90% return of investment. Again, nothing new for binary options companies. Once you deposit the funds, your friendly so-called financial adviser is becoming your best buddy. He is checking out your financial situation during long hours of chatting, trying to understand how much money you can afford to invest. Once all the money is dragged out, your account becomes suspended. Your financial adviser doesn’t answer the phone, and your access to funds is blocked. And this is the moment you understand you have been involved in the scheme.
Bear in mind that binary options are not legal in the EU, and make sure you always check the broker before making any investments!
Even though Binatex and its owner Binatexia Ltd claimed to be based in Cyprus, the regulatory body of this country issued an official warning against the broker. As per CySEC, binatex.com is not a regulated domain and has no right to provide financial services anywhere in the EU. After the official closing of binary options companies, this broker tried to mislead clients and state that it’s in the process of re-regulation. Completely false information, as CySEC informed the public.
What to do if you have already gotten into the hands of a scammer?
If you have already been involved with Binatex, it’s not too late. You can file a dispute and request a chargeback. The chargeback is the most effective refund solution in case you have been scammed online. Basically, it means your bank will take the money from the merchant directly to your credit card.
In order to get a complete chargeback process guide and understand what steps are necessary to be taken in your particular case, do not hesitate to contact us immediately. File a form, book your free consultation, and get information regarding a refund. Do not let the scam brokerage keep your funds, start the refund procedure immediately!