Lbinary

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LBinary (Inactive) Review

LBinary (Inactive)

Broker LBinary (Inactive)
US Traders Accepted
Company Name Live Binary Ltd.
Headquarters Nicosia, Cyprus
Regulation No
Bonus Type Match bonus
Bonus Size 100%
Max Payout 550%
Out-of-Money Reward 10%
Trading Platform SpotOption
Deposit Options Credit/debit card, wire transfer, CashU
Deposit Currencies Euro and US Dollar
Minimum Deposit $100
Minimum Trade $25
Maximum Trade $1,000
Online Since 2020
Trading Instruments Currencies, commodities, stocks, indices
Number of Trading Instruments 60
Binary Option Types High/Low, Option Builder, One Touch, 60 Seconds
Customer Support Types Web form, email, phone, live chat
Education Offered FAQ, glossary, how-to pages, 60 minute lesson in trading, trading strategy, one on one trading
Tools Offered Daily and weekly market review, expired rates, double up, rollover, Open Platform, account management, and VIP phone line
Commission $25 for wire transfers, $100 minimum withdrawal limit. $5,000 maximum withdrawal limit.
Languages English, Arabic, French, Italian
Demo Account No

LBinary is no longer operating as a binary options broker. The review below is presented for the archiving purposes.

LBinary is a binary options broker based in Nicosia, Cyprus. The website was registered in February of 2020, and being quite new there is very little information available on it. Indeed, searching for information about LBinary, we found only a single review and no other hits. Furthermore, the website itself had a lot of information gaps and it took quite a bit of digging to find even some extremely basic information. The site lists awards which do not seem to actually exist, and they are extremely limited in terms of features. While their platform is definitely SpotOption, their brand is unconfirmed on the SpotOption website. Following is all the information we did find or piece together. To be fair, since the website is only a couple of months old, that is probably a large part of the reason that it is so lacking in features and reputation, but it does not seem to be off to much of a start.

Deposits and Withdrawals on LBinary

The sign-up process on this website is fast and easy, and you can deposit in Euros or US Dollars, starting with $100 minimum or equivalent. While trading in Yen is mentioned in the FAQ a couple of times, this option is not offered when you make your deposit. You can transfer your money via credit or debit card, wire transfer, or CashU. The only fees are $25 fees for withdrawals, and there is a $100 withdrawal minimum. While this is a pretty common feature even among legitimate brokers, it is one more irritation since it makes it hard to withdraw your own money. Imagine if you deposited the minimum without paying any heed to the withdrawal minimum, lost a single trade, and wanted to take out your remaining money. You wouldn’t be able to access it anymore.

Five different account tiers are offered: Micro, Silver, Gold, Expert, and Platinum. The Micro account starts at $500 and comes with email and live support 24/5, and an account manager. The benefits and features increase when you deposit more money. The highest tier, Platinum, is available to customers who deposit $50,000 or more, and comes with a lot of features. Along with the email and live support 24/5, you get account management, quick money transfer procedures, a 60-minute lesson in trading binary options, trading strategy information, one-on-one trading, and a VIP phone line. While these benefits sound outstanding, it is hard to picture that they would actually deliver on them.

Amusingly enough, when we tried registering on the website and then checked our email to confirm that USA traders are permitted, the subject line read, “Ok, you can trade now,” and there was no content at all in the body of the email. The email didn’t exactly exude confidence and professionalism.

Trading Features on LBinary

LBinary offers 60 different assets including the usual range of commodities, currencies, stocks, and indices. High/Low, One Touch, and 60 Seconds trades are available, as well as Option Builder so that you can customize your expiry times. The format of the screen and the presence of Open Platform confirms that this is a SpotOption powered website, despite the fact that there are no actual references to SpotOption technology on the site. SpotOption is an excellent platform that is easy to understand and use. There are however dozens of other binary options sites which use this platform which would be better to trade on.

The minimum trade size is $25, and the maximum is $1,000. Double up and rollover are offered so that you have the option of extending your winning trades or adding money to them to enhance your profits. You will also find daily and weekly market reviews on the site to help you with your trading. The only other resources you will find on the site include a glossary, a FAQ, and standard how-to pages. A video demo is forthcoming. There is no actual demo account though, and no mobile trading support either.

Deficient Customer Support

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Customer support options include phone numbers in various countries, email, web form, and live chat. We sat on the live chat line for about a half hour on a weekday during normal market hours and nobody was there to respond, despite the claim of 24/5 customer service. It is possible that the line was simply busy, but this is unlikely given that unstaffed live chat desks are unfortunately the norm with binary options brokers. There are brokers however that will quickly assist you on live chat, even though they likely have a lot more customers than this site.

Lacking in Reputation

LBinary does not have much of a reputation to speak of. As mentioned earlier, there is literally one other review for the website online, and it is from an affiliate account (nor is the information in it completely consistent with what is on the website currently). There are no community posts about LBinary either. But what is really interesting are the awards listed near the bottom of the LBinary webpage.

The first award doesn’t actually list an awarding group. The second award was apparently given by VLSIresearch Inc. The provider does exist, and it does give out Supplier awards, but the awards are for nanotechnology and semiconductors and similar electronic systems. The company appears to have nothing to do with binary options trading or trading in general. Another of the awards listed comes from World Finance, and reads “World Finance Trading Platform of the Year 2020.” This is an invalid claim for several reasons. Firstly, a website registered in 2020 could not have won an award in 2020. Secondly, World Finance’s Exchanges & Brokers awards in that year did not yet include binary options categories. Thirdly, the winners for 2020 included Banc De Binary, Option Bit, 4XP, Start Options, AnyOption, EZ Trader, and 24option.

This is a new website, so it would not be entirely fair to say that they are definitely an illegitimate company. They may have misinformation like this in place as a placeholder while they work on building up their client base and earning some real reputation. The fact that they are going to start out by being misleading does not lend a lot of credence to their trustworthiness or validity, however. This along with the absent customer service are our main reasons (more so than the lack of features, which is expected given a brand new site) for recommending that traders avoid this site, at least for the time being.

LBinary (Inactive) , 1.0 out of 10 based on 6 ratings

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In the EU, financial products are offered by Binary Investments (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta, regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority (licence no. IS/70156).

Outside the EU, financial products are offered by Binary (SVG) LLC, Hinds Building, Kingstown, St. Vincent and the Grenadines; Binary (V) Ltd, Govant Building, Port Vila, PO Box 1276, Vanuatu, regulated by the Vanuatu Financial Services Commission (view licence); Binary (BVI) Ltd, Kingston Chambers, P.O. Box 173, Road Town, Tortola, British Virgin Islands, regulated by the British Virgin Islands Financial Services Commission (licence no. SIBA/L/18/1114); and Binary (FX) Ltd., Lot No. F16, First Floor, Paragon Labuan, Jalan Tun Mustapha, 87000 Labuan, Malaysia, regulated by the Labuan Financial Services Authority to carry on a money-broking business (licence no. MB/18/0024).

This website’s services are not made available in certain countries such as the USA, Canada, Hong Kong, Japan, or to persons under age 18.

The products offered via this website include binary options, contracts for difference (“CFDs”) and other complex derivatives. Trading binary options may not be suitable for everyone. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, the products offered on this website may not be suitable for all investors because of the risk of losing all of your invested capital. You should never invest money that you cannot afford to lose, and never trade with borrowed money. Before trading in the complex products offered, please be sure to understand the risks involved and learn about Responsible Trading.

In the EU, financial products are offered by Binary Investments (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta, licensed and regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority (licence no. IS/70156).

In the Isle of Man and the UK, Synthetic Indices are offered by Binary (IOM) Ltd., First Floor, Millennium House, Victoria Road, Douglas, IM2 4RW, Isle of Man, British Isles; licensed and regulated respectively by (1) the Gambling Supervision Commission in the Isle of Man (current licence issued on 31 August 2020) and by (2) the Gambling Commission in the UK (licence reference no: 39172).

In the rest of the EU, Synthetic Indices are offered by Binary (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta; licensed and regulated by (1) the Malta Gaming Authority in Malta (licence no. MGA/B2C/102/2000 issued on 01 August 2020), for UK clients by (2) the UK Gambling Commission (licence reference no: 39495), and for Irish clients by (3) the Revenue Commissioners in Ireland (Remote Bookmaker’s Licence no. 1010285 issued on 1 July 2020). View complete Regulatory Information.

Binary.com is an award-winning online trading provider that helps its clients to trade on financial markets through binary options and CFDs. Trading binary options and CFDs on Synthetic Indices is classified as a gambling activity. Remember that gambling can be addictive – please play responsibly. Learn more about Responsible Trading. Some products are not available in all countries. This website’s services are not made available in certain countries such as the USA, Canada, Hong Kong, or to persons under age 18.

Trading binary options may not be suitable for everyone, so please ensure that you fully understand the risks involved. Your losses can exceed your initial deposit and you do not own or have any interest in the underlying asset.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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In the EU, financial products are offered by Binary Investments (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta, regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority (licence no. IS/70156).

Outside the EU, financial products are offered by Binary (SVG) LLC, Hinds Building, Kingstown, St. Vincent and the Grenadines; Binary (V) Ltd, Govant Building, Port Vila, PO Box 1276, Vanuatu, regulated by the Vanuatu Financial Services Commission (view licence); Binary (BVI) Ltd, Kingston Chambers, P.O. Box 173, Road Town, Tortola, British Virgin Islands, regulated by the British Virgin Islands Financial Services Commission (licence no. SIBA/L/18/1114); and Binary (FX) Ltd., Lot No. F16, First Floor, Paragon Labuan, Jalan Tun Mustapha, 87000 Labuan, Malaysia, regulated by the Labuan Financial Services Authority to carry on a money-broking business (licence no. MB/18/0024).

This website’s services are not made available in certain countries such as the USA, Canada, Hong Kong, Japan, or to persons under age 18.

The products offered via this website include binary options, contracts for difference (“CFDs”) and other complex derivatives. Trading binary options may not be suitable for everyone. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, the products offered on this website may not be suitable for all investors because of the risk of losing all of your invested capital. You should never invest money that you cannot afford to lose, and never trade with borrowed money. Before trading in the complex products offered, please be sure to understand the risks involved and learn about Responsible Trading.

In the EU, financial products are offered by Binary Investments (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta, licensed and regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority (licence no. IS/70156).

In the Isle of Man and the UK, Synthetic Indices are offered by Binary (IOM) Ltd., First Floor, Millennium House, Victoria Road, Douglas, IM2 4RW, Isle of Man, British Isles; licensed and regulated respectively by (1) the Gambling Supervision Commission in the Isle of Man (current licence issued on 31 August 2020) and by (2) the Gambling Commission in the UK (licence reference no: 39172).

In the rest of the EU, Synthetic Indices are offered by Binary (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta; licensed and regulated by (1) the Malta Gaming Authority in Malta (licence no. MGA/B2C/102/2000 issued on 01 August 2020), for UK clients by (2) the UK Gambling Commission (licence reference no: 39495), and for Irish clients by (3) the Revenue Commissioners in Ireland (Remote Bookmaker’s Licence no. 1010285 issued on 1 July 2020). View complete Regulatory Information.

Binary.com is an award-winning online trading provider that helps its clients to trade on financial markets through binary options and CFDs. Trading binary options and CFDs on Synthetic Indices is classified as a gambling activity. Remember that gambling can be addictive – please play responsibly. Learn more about Responsible Trading. Some products are not available in all countries. This website’s services are not made available in certain countries such as the USA, Canada, Hong Kong, or to persons under age 18.

Trading binary options may not be suitable for everyone, so please ensure that you fully understand the risks involved. Your losses can exceed your initial deposit and you do not own or have any interest in the underlying asset.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Good for Beginners!
    Free Education + Free Demo Account!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Only For Experienced Traders!

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