Binvesting Review – 5 things you should know about

Beware! Binvesting is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Binvesting is a forex company trading in currency pairs, indices, metals, energies, futures and shares. At first glance, everything seems to be in order with this forex broker, but is it so or are there any issues with the company that we need to be aware of, we are about to find out.

Binvesting Regulation and safety of funds

In the Terms and Conditions document that is on the company’s website, we find out that Binvesting is operated by UMO World corporation ltd. with address in the Republic of Marshall Islands (MI). What is important to note here is that in the Republic of Marshall Islands there is no financial regulator and practically anybody who wants to register as forex broker can do so on the Internet. This fact immediately raises a red alarm with us because it is not safe to trade with non-regulated brokers. First of all, they cannot provide a guarantee for the safety of your funds and second, they may be scammers who could just shut down their website and disappear with your hard-earned money.

We advise our readers to look up forex brokers from the well-established jurisdictions where brokers must meet some very stringent requirements in order to get licensed. For example, in US, brokers must provide $20 million as initial capital! In EU and UK, brokers must  have no less than 730,000 EUR for the same purpose. In addition to that, legit brokers contribute to compensation schemes from which traders could be compensated in case something wrong happens to the broker. Licensed brokers in EU will compensate the traders with up to 20,000 EUR per person in case the company goes bankrupt. Similarly, brokers regulated by FCA will provide compensation of up to 85,000 GBP per person. As you can see, these precautions help ward off scammers and also provide a guarantee for the safety of your funds.

Please at all cost, avoid non-regulated brokers and always choose licensed brokers from well-established jurisdictions for your own peace of mind!

Binvesting Trading software

Despite being non-regulated forex company, Binvesting offers one of the best trading platforms in the forex trade world – the MetaTrader 4! This platform is number one choice among around 80% of the brokers who, despite the platform’s old age of 15 years, cannot stop singing its praises which are absolutely warranted! MT4 offers auto trading option, a financial calendar, an app market, VPS and code base with customs scripts. In addition to that it offers trading signals for a subscription fee and provides numerous charting options that come with technical analysis indicators, such as Fibonacci retracement, moving averages, Bollinger Bands, etc., that help traders predict the future direction of exchange rates and make profit.

However, no matter how excellent this platform is, your priority is to select a regulated broker, trading software comes second!

Let’s take a look at the screenshot below which show us what the UMO World Corporation MT4 terminal look like. On the left, you see the menu with the currency pairs and their bid/ask price. You can select the currency pairs you want to trade with and display their charts in the middle of the screen with their fluctuation in price in a selected by you time frame. On the left, you can also see the navigator menu with the accounts, indicators, expert advisor and scripts options. In the middle of this image, you see 4 charts of 4 currency pairs. As we mentioned, you can increase or decrease the number of charts as per your trading needs.

If we take a look at the first chart of the EUR/USD currency pair, we can estimate that the spread is 2 pips. We can say that this spread is in normal boundaries, not too tight, nor too wide. However, from the account types information on the company’s website, we find out that the leverage offered is rather high. For the Silver account the leverage is 1:200 and for the other accounts, it’s even higher – 1:300 and 1:400/1:500 respectively. Such high leverage can mean only 2 things – big win or big loss. If you think of the statistics showing that around 70% of traders lose in forex transactions, chances are that such high leverage will bring you big loss rather than big win. So, please don’t get tempted by promises for big win and always exercise caution when it comes to leverage. And here, we would like to point out that licensed brokers will never offer such high leverage. First of all, there is a cap on leverage in EU where it cannot exceed 1:30 and in US the cap is 1:50. These are measures to prevent traders from losing their hard-earned money in risky transactions.

Binvesting Deposit/Withdrawals methods and fees

Binvesting offers 3 trading account types – Silver, Gold and Platinum. The minimum initial deposit is $250 and there are no fees attached.

The deposit and withdrawal payment methods are rather limited – only credit/debit cards and bank transfers are accepted.

The withdrawal policy states that the company will process withdrawal requests only after the first 30 days of an account being opened and the minimum withdrawal amount is $50 with no fee if it’s made via credit card. Should you choose to trade via this company, you must be aware that if you choose to accept a bonus, you must fulfil a required trading volume otherwise your withdrawal request will be canceled.

Speaking about bonuses, you must know that they come with many strings attached! If you receive a bonus, then, as per the Terms and Conditions of the company, you must trade a minimum trading volume of the bonus divided by 4 in order to be eligible to withdraw funds. However, if you do not fulfill this requirement within 60 days, then the bonus amount will be withdrawn from your funds. Let us give you an example to illustrate what the company means – if you have deposited $1,000 and your bonus is $200, then you must trade 50 lots to be eligible to withdraw your bonus and profits. Ask yourself, is it worth so much hassle?

Let us tell you that licensed brokers do not offer bonuses! You should be wary of brokers that offer bonuses and keep in mind that they may be scammers.

How does scam work?

No one wants to be duped by scammers, but it happens all the time because they know how to manipulate people. As they say in one popular song “sweet dreams are made of this” and this is what scammers rely on – creating in people’s mind a sweet dream of being rich! Scams usually start by unsolicited telephone calls or ads on the Internet or social media promising quick and easy profit. It is easy to fall into scammers’ trap and once you make a deposit, you are done for! Scammers won’t let you get away easily even if you realise that you are being scammed. They will try to delay you when you try to withdraw your funds by asking you to provide this document or fill out this form, etc., in order to make you miss the deadline when you can file for chargeback.

What to do if scammed?

You need to act very quickly. First of all, if you have made a deposit using a credit card, you must immediately file for chargeback. Fortunately, VISA and MasterCard allow for 540 day period in which you can file for chargeback. This is the good news. The bad news is that if you have made a deposit using bank wire or Bitcoin, the chances of you getting your funds back are nil!

Another thing you can do is cancel your credit card if the scammers have your CVV code. Check your PC and erase the software that gives scammers access to your personal data.

Be careful, because even doing all that we recommended, your unfortunate experience with scammers may not be over. There are the so-called recovery agents. One of those may approach you offering to recover your funds for a fee. Do not trust them and always check the legitimacy of the recovery agent and the agency.

Also, be aware that some “victims” of scam may post comments after the review, saying how they lost money and how a recovery agent helped them retrieve their funds. They will even put the contact info for this so-called recovery agent. Do not trust them either as it is another case of scam!

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