I think that Binarytilt is a scam.

HangoverHangover Posts: 5
They were unregistered broker and it is upsetting know that Signal hive use them us a broker. I have an account with them and I tried to withdrawal my money but it still pending from 25 of May. Their website looks professional but it is very slow and frustrating open a trade. Very bad experience with them. I hope that nobody else have the same experience.
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Comments

  • OkaneOkane Posts: 996 admin
    Always choose a broker with a good reputation which is regulated.
  • HangoverHangover Posts: 5
    Hi Okane. When I opened the account I checked online and in many website there were regulated in New Zealand. Just now discover that they are not regulated.
  • OkaneOkane Posts: 996 admin
    Hangover said:

    Hi Okane. When I opened the account I checked online and in many website there were regulated in New Zealand. Just now discover that they are not regulated.

    Most websites are just scam, one has to learn how to properly check the broker and where to look up
    their addresses, their regulation license number, their platform and also look for scam and complaint comments online.
    I know for a newbie this is hard but we have created guides on these subjects.
  • HangoverHangover Posts: 5
    Now I know thanks Okane. Simple update after two months Binarytilt sent my money back to me. This time i was lucky.
  • The_Geek_MHThe_Geek_MH Posts: 464 mod
    No doubt, are you going to keep trading? what broker are you with now? Just curious.
  • HangoverHangover Posts: 5
    I trade with Highlow and Go Markets.
  • Mendez1Mendez1 Posts: 7
    Hangover said:

    Now I know thanks Okane. Simple update after two months Binarytilt sent my money back to me. This time i was lucky.

    You were lucky indeed to receive your money after waiting two months
  • HangoverHangover Posts: 5
    Yes I was very lucky and I will be careful next time.
  • JannJann Posts: 10
    I have same problem. I have tried to withdraw my money (EUR 5000) from them now for two months. Many emails and calls to help desk, always some explanations.

    @Hangover, how did you manage to finally get your money back? I have been considering to contact some authorities (they must have a regulator I guess, consumer authorities) to put some pressure. Any tips what might help.
  • The_Geek_MHThe_Geek_MH Posts: 464 mod
    I think you might be right, they aren't regulated and are operating from a virtual office in the UK.... they get a lot of warnings too.
  • OkaneOkane Posts: 996 admin
    Jann said:

    I have same problem. I have tried to withdraw my money (EUR 5000) from them now for two months. Many emails and calls to help desk, always some explanations.

    @Hangover, how did you manage to finally get your money back? I have been considering to contact some authorities (they must have a regulator I guess, consumer authorities) to put some pressure. Any tips what might help.

    There must be a financial regulator in your country, try getting in touch with them. Might be others already being in contact with them
    about similar cases.
  • JannJann Posts: 10
    Okane said:

    Jann said:

    I have same problem. I have tried to withdraw my money (EUR 5000) from them now for two months. Many emails and calls to help desk, always some explanations.

    @Hangover, how did you manage to finally get your money back? I have been considering to contact some authorities (they must have a regulator I guess, consumer authorities) to put some pressure. Any tips what might help.

    There must be a financial regulator in your country, try getting in touch with them. Might be others already being in contact with them
    about similar cases.
    Yes, I actually learned that BinaryTilt is not longer operating from NZE; they have transferred their activities to London (where they need to pass Gambling Committee approval etc). To me it sounds like a sign of serious business, that's why it is even more difficult to understand their behavior. I will contract the UK FSA next to seek some help. This one I am not going to give up easily.
  • Blue Sky BinaryBlue Sky Binary Posts: 156 ✭✭
    If they have transferred their activities to London, they need to obtain immediate FCA clearance under FSMA. If they don't they are operating illegally here. Are you sure they haven't instead relocated to Israel?

    Team BSB
    Blue Sky Binary - Research, Education & Technology. Signal Hive - The No.1 Binary Signals Marketplace.

    image

  • JannJann Posts: 10
    suppbsb said:

    If they have transferred their activities to London, they need to obtain immediate FCA clearance under FSMA. If they don't they are operating illegally here. Are you sure they haven't instead relocated to Israel?

    Team BSB

    It all points to London, at least as per their website. I also managed to get through to UK phone number today once (not that it led anywhere, the typical "wait a minute, I will connect you to him" and then cut off).
  • To be honest, traders need to select their trading platform which brokers are regulated! Almost all of non-regulated brokers are scammers! So, don’t count brokers facility and feature without having regulation status!
  • paveljablonpaveljablon Posts: 132
    Jann said:

    suppbsb said:

    If they have transferred their activities to London, they need to obtain immediate FCA clearance under FSMA. If they don't they are operating illegally here. Are you sure they haven't instead relocated to Israel?

    Team BSB

    It all points to London, at least as per their website. I also managed to get through to UK phone number today once (not that it led anywhere, the typical "wait a minute, I will connect you to him" and then cut off).
    Then they have a virtual office in London and a routing UK number. Tell tale signs of a scam. From what I heard they are all based in Israel now after ASIC stopped regulating them. Ditch.

    Pavel
    Transparent Binary Options trader and former floor trader. Now giving signals to help people safely to make money at Signal Hive Please do not contact me to manage your account, I will never take anyone's money. You can see my live performance on Signal Hive and subscribe to me there.
  • JannJann Posts: 10

    Jann said:

    suppbsb said:

    If they have transferred their activities to London, they need to obtain immediate FCA clearance under FSMA. If they don't they are operating illegally here. Are you sure they haven't instead relocated to Israel?

    Team BSB

    It all points to London, at least as per their website. I also managed to get through to UK phone number today once (not that it led anywhere, the typical "wait a minute, I will connect you to him" and then cut off).
    Then they have a virtual office in London and a routing UK number. Tell tale signs of a scam. From what I heard they are all based in Israel now after ASIC stopped regulating them. Ditch.

    Pavel
    That may well be the case. I will not give up easily on this one.
  • JannJann Posts: 10
    Hangover said:

    Yes I was very lucky and I will be careful next time.

    How did you manage to finally get your money back? Any tips what might help?
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