The brokerage company World Binar specializes in providing financial services with cryptocurrencies. On the homepage of the official website, which is available in multiple languages, including Russian, it is reported that there are over 1,500,000 registered users. The broker owns the following domains, all of which lead to the same sites:
The trading agent “WorldBinar” states that the company's management is regulated and supervised by The Financial Commission (FinaCom), a self-regulatory Chinese organization. It should be noted immediately that, in essence, this institution is not a financial regulator in the broad sense of the word. The functions and tasks of the Commission are quite narrow, and its decisions are not supported by a legislative base. The broker does not disclose the company's registration address.
On the web resource, users can familiarize themselves with the documents regulating the company's internal activities at any convenient time. In the “Contacts” section, you can find the address of the main office at 1726, Govant Building, Kumul Highway Port Vila, Republic of Vanuatu. The published contact methods include a hotline phone number in Malta and a technical support email address.
The brokerage organization “World Binar” does not disclose the full list of investment assets. By studying the web resource, it can be confidently said that the broker offers trading in digital options on cryptocurrencies, currency pairs, indices, stocks, commodities, energy resources, and precious metals. To start working with the trading intermediary, you need to register and deposit a minimum deposit of 200 USD in your personal account.
The broker does not offer different types of trading accounts, which ensures equality for all users regardless of financial status. Trading is offered according to ready-made financial plans, which can be found in a separate section of the official website. The broker does not disclose commission fees for its services. Clients can test the trading strategies offered by the broker or master the functionality of the company's trading terminal using a demo account without risking real funds.
To work with the trading intermediary World Binar, clients are offered to use the “Platform,” which, according to the broker, is the most popular and high-tech platform for trading binary options or CFDs with video chat. The “Platform” is available in three versions: Web, Android, and iPhone.
The brokerage company “WorldBinar” offers users multiple ways to fund their accounts with cryptocurrencies, electronic wallets, and bank cards. The client's chosen method of funding the account is also the method of withdrawal, and to initiate a withdrawal, it is necessary to log into the WorldBinar personal account and create a withdrawal request. On average, the withdrawal procedure takes from one to five days from the moment the user’s corresponding request is received and depends only on the volume of requests being processed simultaneously.
The minimum withdrawal amount starts from 1,000 USD for most payment systems. For cryptocurrencies, this amount starts from 500 USD (and may be higher for some currencies, such as Bitcoins). When withdrawing funds (according to the trading agent's statement in the case of large amounts), the brokerage organization reserves the right to request verification at its discretion. For more information, you can study the corresponding section of the official website.
The trading intermediary “World Binar” provides little information about trading conditions, has registration documentation from not the most reliable regulatory body, which is unlikely to allow the broker to take a leading position in the broker rankings. Therefore, before starting work with such a brokerage organization, it is necessary to thoroughly study the data from independent sources and check real client reviews about WorldBinar from users of the trading terminal.
I would not advise anyone to work with brokers regulated by FinaCom (there is a difference between regulatory claims and actual regulation). Not only is it not a regulator in the normal sense of the word, but it is also Chinese. I will refrain from making jokes about Chinese products…
These WorldBinar bastards are a scam, not a broker!! I completed verification when depositing, tried to withdraw a grand, and suddenly the verification failed, and I couldn't pass it again. Technical support does not respond, although it seems there isn't any!!
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