Best Binary Trades has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Best Binary Trades has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Pros: Website looks legitimate on the surface
Cons: Not registered with regulators|Unrealistic promises
Do not be fooled by the professional-looking website. Behind the scenes, Best Binary Trades is disorganized and incompetent. I found them through a financial advisor and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Full transparency|Portfolio tracking tools|Clear documentation
Cons: Mobile app could be improved|Limited demo account features
I lost a significant amount because Best Binary Trades did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Multiple order types|Full transparency
Cons: No crypto staking|Help articles are sometimes vague
The onboarding at Best Binary Trades was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Fast deposits|Intuitive for beginners|Instant funding
Cons: No dark mode on mobile
The reporting at Best Binary Trades is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Full transparency|Tax reports included
Cons: No crypto staking
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Cons: Appears in regulatory warnings database|Uncertain regulatory status
Customer support at Best Binary Trades seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Wide product range|Full transparency
Cons: Wish they had more educational resources
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Best Binary Trades recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: API access|Multiple order types|Wide product range|Tax reports included
Cons: Live chat only during business hours|Help articles are sometimes vague
The spread at Best Binary Trades is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them through a forum discussion and initially thought the platform was good - until I started trading seriously.
Pros: Regular updates|Stable platform
Cons: No integrated tax optimization|Mobile app could be improved
I am in a dispute with Best Binary Trades over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Customizable dashboard|Portfolio tracking tools|Segregated accounts
Cons: Withdrawal takes 1-2 business days|Limited demo account features