Boinex 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 Boinex 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.
Cons: Unauthorized firm|Found in IOSCO warnings database
Boinex has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Social trading features|Fast execution
Cons: None so far
I trusted Boinex with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: Instant funding|Competitive fees|Full transparency|Demo account available
Cons: Research section could be deeper|Desktop app not available on Linux
I wanted to transfer my portfolio from another broker to Boinex. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Comprehensive tools|High security standards
Cons: No phone support on weekends
I was contacted by Boinex through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Cons: Blocked my account|No legitimate license|Fake returns
I closed a profitable position at Boinex and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Copy trading available|Two-factor authentication|Professional team|Tax reports included
Cons: None so far