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Binance.com Review 2020 – Scam or Not?
New: If you want to buy Bitcoin or other cryptocurrencies from the United States, visit Binance.US . European users can purchase crypto with EUR and GBP on Binance Jersey .
Binance.com offers a wide range of cryptocurrencies with several payment methods, including credit card and bank wire transfers. Trade with 100+ altcoins with margin up to 125x on futures on one of the world’s most liquid exchange that is rapidly growing in the crypto industry.
When a new website is launched on the internet, what would be the most common review? The most common reviews especially when the newly launched website is an exchange/trading website
is that it could be a scam! A statement that is commonly being said by people that have only read negative reviews about a website but not haven’t tried using or exploring it themselves. But despite the fact that people are talking bad about them, it is still our duty to make sure that we look into their website and have a couple of features pointed out before we even distrust them.
With that being said, we will be reviewing a new exchange company called Binance.com today. Despite what people say about new websites, we will try to dissect them, and know what makes them tick. Without further delay, let’s talk about that!
Binance came from the combination of words “Binary” + “Finance”. Any indeed, Binance offers a lot of different products in the financial space related to cryptocurrencies, including spot trading, fiat purchases, margin trading and crypto futures on their global exchange.
The company behind Binance is currently registered in Malta. Before moving to Europe, originally they were completely operating in China, but due to the regulatory issues with cryptocurrencies, the company decided to transfer operations first to Japan then later to Malta for a more regulation-friendly and favorable environment.
The company’s CEO and founder is Changpeng Zhao who previously dealt with high-frequency trading in Shanghai before joining the crypto space. He worked in Blockchain.info’s wallet team and served as a CTO on OKCoin crypto exchange, before founding Binance in China in 2020.
The company had its ICO in July 2020 and after a few months, released their exchange website where their coin BNB can be used to pay the transaction fees. At the beginning of 2020 they launched Binance Jersey, an independent company to aim their European expansion and later in September Binance.US to help US citizens to purchase crypto in an easy and regulated way.
On their website, it says that they are capable of processing 1,400,000 orders per second with handling an average daily volume of 1.2bn USD, making them the biggest cryptocurrency exchange on the world based on the 24 hours volumes. Impressive numbers if you put into consideration the number of people that go to their website on a daily basis.
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Binance is one of the most active community members among crypto exchanges. On their Facebook page and Twitter, they share all the important updates you need to be aware of that is impacting trading and the crypto space. On Reddit you can engage in discussions with other users and this is also one of the forum, where Binance actively responds to user’s questions. Binance runs multiple Telegram channels, dedicated to different topics, including Announcements, Discussions, Researches. They also have separate channels for English and Chinese speaking users. Binance.vision is the home of Binance Academy, a dedicated platform solely to learn everything you need about Bitcoin and altcoins from technology to trading. Their materials are well structured and easy to understand to make sure the largest audience is reached through their guides and walkthroughs.
Verification with Binance.com
Verification levels is a pain when it comes to exchanging websites, it is also a security feature that can help monitor our trading levels and keep in manual to help us control unwanted trades. What are verification levels? Account levels are there to keep the users safe from going over their regular trading capacity. Most of the websites now have manual activation that requires information from the user submitted to the company for review. There are also verification levels that are not connected with trading, but with deposit/withdrawal caps.
There are three verification levels available in Binance.com and these verification levels are for withdrawal limits. The first level has a 24-hour withdrawal limit of 2 BTC, the second level allows up to 100 BTC withdrawal, the last level would be level 3 and this would have a higher limit than 100 BTC (exact amount is not disclosed). How do we level up an account to increase its withdrawal limits?
To increase the regular level (LVL 1) to Level 2, the security SMS Authentication/Google Authentication needs to be turned on. Which is great if you ask us since this is a major increase in an account’s limit. Once this has been turned on, additional verification documents needed to be submitted in order for the account to be increased to level 2. You need to provide your name, date of birth, address and supporting documents, including a government issued ID card, passport or driver’s license. You also need to upload a photo of yourself so the system can compare the photo on your ID with your uploads, so make sure the picture is clear and your face is fully visible to ease the process. To complete the verification, you need to scan a QR code appearing on the screen so the phone number can be linked to your verified account. Note that you can only attempt the verification 3 times during a span of 24 hours but if everything is submitted properly, the process only takes about 10-15 minutes.
The level 3 account needs to go through a manual verification process which demands a user to contact the support team and ask for their approval.
Once logged into the account for the first time, the user will be asked to activate the Two-Factor Authentication under the account. There are two options, one would be the Google Authenticator and the second only works for Mainland China users which is the SMS Authentication. What we found really impressive is that the first time you log into your account is that you are not thrown right away to the sharks, we meant that you will not be thrown directly to the live trading board and they would redirect you to the security tab instead wherein everything needs to be taken care of before moving into trading.
There are quite a few features that this website has to make a user feel comfortable with their registration. We have already mentioned a couple of security features including the ability to add a 2FA to your account. They also have the verification levels for withdrawal limits that enable a user to add a layer of a level if they have gone through the requirements to upgrade one’s account to a different tier.
You are also able to add an API private key where you can access all the trading services of Binance.com from a third-party website or a mobile app, making it easier to transfer from one device to another. One of their famous features that will be talked about later in this review, this is the ability for the registered user to turn ON/OFF the fees payment using the BNB coin.
Beyond the 100+ different coins you can choose to trade with, Binance also offers the direct purchase of Bitcoin, Ethereum, Ripple, Litecoin, BNB, Bitcoin Cash and a couple of stablecoins like PAX, BUSD, and TUSD.
The exchange has two different layouts. Basic design help new users to get the hang of the trading feeling, has all the important information you would need to start trading with crypto on Binance. The chart has live prices, the order book is representing the most up to date trades and you can also see all the price changes for the various coins you can trade with.
In case you already have experience with trading, the advance trading screen will suit all your needs. Here you are given all the charting tools you would need to come and execute your trading strategy. The order book and market depth are also represented on the trading dashboard and you can choose from the various orders, like limit, market and stop orders that help your risk management. Here you can also make margin trades on several cryptos.
Seasoned traders can enjoy the benefits of leverage available up to 125x on Binance Futures platform. Futures contracts are available now in BTCUSDT and ETHUSDT trading pairs and you can also place the same order types on this platform as you would normally do on the spot market dashboard. The difference is that here the leverage can be taken up to 125x on BTC and 50x on ETH with the perpetual contracts. You can read about the various trading dashboard in the next section.
Margin trading is only suggested for experienced traders as here you may lose your invested capital is you do not employ proper risk management. At the same time, if you use margin trading, your available funds to trade are increasing by the leverage you take which can lead to significantly higher profits in case the market moves in line with your expectations.
Beyond margin trading, Binance recently introduced two new ways to earn money on your crypto holdings. Binance Lending lets you earn up to 10% average annual return on your crypto deposits. You can withdraw your funds any time with the flexible deposits, but if you are willing to commit yourself for a longer time period, with fixed deposits you can earn significantly more.
Staking is the other form of earning coins for your unused altcoins. You just need to hold your coins on your Binance account and you will earn staking rewards. The good news is that you can use your coins within the platform just as you would do anyway, as with staking you can translate or trade your coins.
We have already talked about the creation of an account, their website features; it is the perfect time to talk about how much they charge per trade. So how much do they charge? At the current rate, Binance only charges a 0.1% fee for each trade. In addition to this, Binance also runs a maker-taker fee model with volume discounts which lets you shrink your trading fees as low as 0.012%.
Compared to any other websites out there today, they probably have the cheapest trading fee to date! What’s even better is that they have their own coin BNB which can be used on their exchange website. As mentioned earlier, one of their features is to turn ON/OFF the ability to pay the fees with their own coin.
If you are paying for the use of BNB, you will immediately get 25% OFF from the trading fees. This means that the trading fee of 0.1% that’s dirt cheap, would even go down to 0.075% with the discount added. How awesome is that? You guys might want to read up about their coin as it is being discussed in this thread.
Deposits are always free of charge on Binance in all the hundreds of coins they offer. There is no minimum for deposits, but for withdrawals, they do apply limits as the minimum amount you can send out from the platform. For withdrawals, Binance only charges the network fee applicable for the specific coin you want to withdraw.
Trading in Binance.com
Now comes the fun part! Binance.com exchange is divided into two parts. One would be the Basic tab and the other is the advanced tab. We will be going to look into both these tabs but focus rather with the basic one since both are just basically the same, with the “advanced” having more things to look and get confused at.
To get to the basic exchange platform, log into your account. Remember earlier that we’ve talked about being redirected to your security account tab after logging in? On that same page, head over to the upper left-hand corner of the screen and click on the “Exchange” tab. This will open up two options to choose from as mentioned –please select basic.
Seen in the screenshot above, the chosen exchange BNB/BTC (of course, the default should be showing their own coin) can be seen in the upper left-hand corner of the basic trade screen. Found beside the exchange, squared out is the last price for the exchange between BNB and BTC, next to that is the 24-hour exchange rate and further down to the right side would be the high and lowest prices recorded within a twenty-four hour period. Shown charts can be changed between “Candlesticks” and “Depth” depending on what you like to look at.
Since this is a BTC exclusive website, all of the coins will be paired up with BTC. This can be found on the Right-hand side panel of the basic trade window. The list of the available coins that can be traded will be discussed later on in this review.
To Buy or Sell an order you just need to head on to the middle area where you are able to place orders. The price of the BTC can be freely changed to whatever value you think is profitable. After changing or retaining the price, select the amount of BNB or whatever the pair for your BTC is and click on BUY/SELL. Successful orders will then be placed on the left-hand side of the trading page. All Open Orders can also be viewed on the lower part of the trading page. To access this, just scroll down and the lowest part of the page should be it.
Now moving on to the advanced trading page, everything is turned into night mode and the difference is the optimized location of the important tabs found on the trading page. The indicators have been transferred to the upper left-hand side of the trading page, on the far right side would be the candlesticks and depth graphs; this is also where you are able to change the view from the regular or full-screen mode.
Going down on the right-hand side panel are the buy and sell orders that have been recently fulfilled. Below are the order tabs wherein everything that has something to do with placing an order can be found. On the lower right-hand side is the Open Orders, Trade History, and Funds tabs respectively.
One thing that this website lacks when it comes to their trades, would be educational material that can be of great use to new traders that want to get into the trading world. If they are thinking of adding features to their website, adding educational material is the good thing to do.
Available Coins to Trade
“A vast selection of pairings” a humble thought about the coins available to trade on the website Binance.com. And that is simply true and no words can describe the pairs available for exchange. To name a few tradable coins we’ve got BNB, Ark, Bitcoin, Dash, Ethereum, ETH Classic, Litecoin, and a ton more coins! To get a list of the complete available pairings, please head on to their website and create an account, here is the current list of coins available on Binance.
CTR, MATIC, IOTX, CDT, DOCK, STX, DENT, AION, NPXS, BCPT, VIBE, DGD, SUB, ZRX, BCD, POA, AE, IOST, BCH, POE, OMG, BAND, HOT, BTC, NKN, CVC, IOTA, BTG, BCX, ARK, BTM, TRIG, RCN, ARN, KEY, BTS, BTT, ONE, ONG, ANKR, GNT, ALGO, SC, ONT, PPT, RDN, RUB, PIVX, ARDR, AST, CLOAK, MANA, NEBL, VTHO, MEETONE, QSP, SALT, STORM, ATD, ICN, ZEC, REN, APPC, JEX, REP, ADA, ELF, REQ, STORJ, ICX, ADD, LOOM, ZEN, YOYO, PAX, DUSK, DOGE, BOLT, HBAR, RVN, NANO, WAVES, CHZ, ADX, XRP, WPR, KAVA, HCC, SYS, COCOS, TUSD, GAS, WABI, STRAT, ENG, THETA, ENJ, KZT, WAN, OAX, GRS, UND, PERL, TFUEL, LEND, DLT, TROY, LLT, SBTC, XTZ, AGI, MOD, EON, EOP, EOS, GO, NCASH, OST, BLINK, HC, ZIL, SKY, NAS, XEM, NAV, GTO, CTXC, WTC, XVG, TNB, BCHSV, DNT, STEEM, TNT, KMD, IQ, CMT, MITH, ERD, CND, UAH, FTM, POWR, KNC, GVT, WINGS, CHAT, RLC, PHB, BGBP, ATOM, BLZ, SNM, SNT, FUN, SNGLS, COS, QKC, FET, ETC, ETF, BNB, CELR, ETH, MCO, NEO, TOMO, LRC, MTH, XZC, GXS, MTL, VET, BNT, USDT, QLC, LBA, USDS, MDA, DASH, EDO, AMB, FUEL, TRY, TRX, EUR, LSK, NULS, BEAM, CAN, DCR, NGN, DATA, ENTRP, LTC, USDC, WIN, HNST, EVX, NXS, CBM, INS, XLM, LINK, MFT, QTUM, LUN, BQX, POLY, VIB, VIA, VRAB, BAT, BRD, BUSD, ARPA, XMR
Ease of Use
During the past couple of years, Binance did their best to streamline the process of exchanging cryptocurrencies in a professional, but still user friendly way. Their project called Binance Academy explains the underlying concepts of both cryptocurrencies and trading which helps even new joiners in the industry to quickly pick up all the necessary information they would need to get started.
The website is very responsive and easy to navigate on. Their website doesn’t have any lag issues at all. This means that when we go from one tab to another, everything happens in an instant and you are not forced to wait in awkward silence to get to the next page.
The different trading dashboards really help the users to make sure that are on the right interface depending on their expertise. Both basic and advanced users will probably find what they are looking for at an exchange. The walkthroughs and guides are clear with a lot of different screenshots which helps to get around the platform step by step.
Their mobile apps in the App Store and Google Play Store helps users to control their account on the go and also is utilized through the verification process. You can even download the Android APK directly from Binance.com if you do not want to go through the store.
After all the exploring with their features and how to trade, it is now time to look into the kind of support they have for their customers. One of the important things in looking into exchange/trading platforms would be to know what their customer care service is about.
We have stressed in so many reviews that when it comes to websites that handle money, customer care is vital to its progress as this bridges the gap between company and customer.
Here at Binance.com, a registered customer can contact them through email support since they do not have a live chat system integrated yet into their website, maybe a feature that will be added in the future. Aside from the email support that can be reached through [email protected] they can also be reached through QQ Group: 344615861. QQ is a messenger app that is widely used in China. They can also be followed through their Facebook , Twitter , Weibo , and Wechat accounts .
Their features provided are great. A little bit of time spent going around the website and exploring the tabs made us confident that it only takes time to familiarize their usages and feel content with what they have. As mentioned earlier, their website doesn’t have any lag issues so this is great. The security features provided are ample enough to keep your account safe.
What are people saying about the website? Most of the negative claims can be just opinions of what people say about them and are just that, no proof whatsoever of the negative claims they have on the website. You can read a little about how they say the website is a pump and dump scheme that you should be aware of. Click on this link to be redirected to the review .
It is also worth noting, during 2020 around $40 million dollars of Bitcoin has been stolen from Binance.com in a hacking incident along with 2FA and API token codes. The hackers used several techniques, including phishing, viruses and other attacking methods as the exchange’s CEO wrote about the incident in a blog post. The good side of the story is that Binance fully compensated its users and was completely transparent about the event in front of the public and also provided follow up measures they took to avoid such issues happening in the future.
Pros and Cons
- Bitcoin centered exchange
- Very low Fees
- A myriad of coins to exchange with
- No lags experienced with website
- Customer support lacks phone
- Has been hacked one time (but compensated their users)
- Different domains for US, European and rest of the world users
Supported Payment Methods
- Credit Card
- Debit Card
- Wire Transfer
There is no information about restricted countries on Binance as they run now separate platforms for users in the United States and in Europe they can properly serve all users while being complied with local regulations. However, each platform has its restricted country base and only serves the dedicated countries as listed in their terms and conditions.
FAQ – Frequently asked questions about Binance
Can a US citizen use Binance?
Can you buy bitcoin on Binance?
Which coins are supported on Binance?
How do I withdraw money from Binance?
How long do Binance withdrawals take?
Should I keep my crypto on Binance?
Has Binance ever been hacked?
How do you deposit money into Binance?
How are Binance trade fees calculated?
Is there an app for Binance?
Is Binance coin a good investment?
Binance Review Conclusion
We had fun as we went through the website and explored their features and what their exchange platform was all about. If you ask us if this is a safe place to conduct business with. Binance is relatively new – but they managed to earn a lot of trust in the cryptocurrency space.
In fact as of today, it is one of the most trusted crypto exchanges and trading platforms. And as they added new features like EUR & GBP Fiat support with Binance Jersey and also support for Credit Cards on their main platform – we can definitely recommend the Binance Platform to everyone – newcomers and “OG” crypto enthusiasts.
Go to binance.com
Hello! Now released a new token!
More information here!
Wow, where do I start?
AVOID THIS EXCHANGE LIKE AIDS. NO STARS
It worked ok at first I had about 1500 TRX tokens stored there, I had a phone get destroyed along with the 2FA google app and this is where the trouble started. After this they never allowed me back into my account, they waste your time with pretend customer service/robo mail, when you lodge a ticket they’ll close it if you don’t respond within a few hours or they simply wont listen to you or pretend to listen and make you repeat yourself whilst pretending to care and remedy the situation, its all horse s#it and smoke and mirrors to defraud you. I have been trying for 6mnths to get them to let me into my account never once did they ask my personal details that were used to create the account.
So, they claim they cant open my account to allow me to reset the 2FA + in order to reset the account they ask incredibly obscure questions like “whats the balance of your account”, whats the last address you sent it from? I was never told to keep this information and given that it was so long ago its impossible for me to know so they just keep it locked and take my tokens. Simple scam really but after reading more on here and other sites you realise your just one of many dupes. Save your money and use another exchange Binance are a criminals through and through. Ive learnt my lesson and am making the point of letting every forum know the truth about these slimy little scammers. Go elsewhere do not use Binance. Peace
- Do not ever trade with this broker
Broker Zoomtrader has never been one of my favourite brokers. This is because of its poor image based on what I have heard from other traders. To see how much this is true we have made a hard test and this review will explain everything. First of all, Zoomtrader has received numerous penalties from relevant authorities. The CSOB report 2020 says that the company was prohibited to take on new traders from the Czech Republic, which the broker continues to do. All what they did was deleting Czech from among the languages and that’s it.
In early 2020 Zoomtrader received penalty from CySEC worth $15.000 for offering binary options trading to Europeans without having a valid license. All brokers based in Cyprus are subject to regulation i.e. are supposed to play fair. But “playing fair” is obviously something these guys dislike. What they like is to cheat and steal money from people. To make it possible they have moved their offices to the Caribbean, where they do not need any CySEC regulations.
Zoomtrader CySEC, CNB and further regulations
A false registration with CNB
Despite exhibiting lists containing various regulatory authorities (source) at Zoomtrader’s web site, it’s all only pretension. In reality, neither Zoomtrader nor their partner firm Zoompartners Ltd. is subject to any of the regulations.
Click on the item displayed next to the Czech national flag and you will get to the web site (picture on the right-hand side). Nice words in the documents about regulation vastly differ from the reality. The trick is in the fact that the regulated entity is not Zoomtrader, but a company whose name is Novox Capital Ltd.
After a small research and surfing over the internet, we found out that this company has nothing to do with zoomtrader. It only provides brokers of OptionBIT and OptionXP, similarly infamous for their dishonest practices.
Zoomtrader’s fraud penalised
Last year this scam broker was fined by CySEC $15.000 because of not being licensed by this regulator.
According to the legislature, binary options trading is only allowed to brokers licensed by CySEC. Zoompartners Ltd. got out of the mess with minimum impact (…given that the top limit for such violation is twenty times bigger i.e. $350.000).
Since its foundation in 2020 the company has received an incalculable number of penalties, (…literarily incalculable so I cannot tell you any figure).
Experience with this broker
Since the early stages of my experience with binary options the only positive feedback about this broker I have ever heard came from a young lady swearing that she was making thousands of CZK with Zoomtrader.
This is extremely suspicious and it rather looks like a fake. It’s because the lady shortly after that published her zoomtrader sponsor code used for being paid by zoomtrader. Therefore we believe that she was one of the Marketing employees publishing her testimonial at the time of attracting Czech clients.
It is not a rare phenomenon on the internet to see an article or comment which describes a story of brokers suspending or totally stopping refunds to traders. Practices such as 60 second options expiring after 100 seconds, nearly a double, or manipulation with prices upon expiry are nothing exceptional, either.
Another unfair practice of Zoomtrader is the behaviour toward clients who deposit their money. Saying this, we mean the adding of unwanted bonuses. Mainly because, the client is forced to trade a certain amount before allowed to withdraw it. The majority of these amounts is exorbitant.
Exorbitant fees were behind CySEC decision in early 2020 to impose a ban on brokers to offer any bonuses. Automatic assignment of bonuses was qualified as unacceptable. Yet, our broker does not care and escapes unhurt.
Your experience with Zoomtrader
Have you ever made trades with Zoomtrader? What is your experience? Do not hesitate to write us in section Comments so that we all can see what this broker is like. Thank you!
- Do not ever trade with this broker
Zoomtrader – Review author
More about the author Step
I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author
|✅ Website URL||www.zoomtrader.com|
|✅ Minimum 1st Deposit||$ 200|
|✅ Free Demo Account|
|✅ US Traders Allowed|
|✅ Overall Score||We don’t recommend trading with this broker.|
Show recommended brokers
12 Responses to “Zoomtrader”
I lost a lot of money to GTOptions and 2 other ICO scams then I tried hiring a lawyer but ended up losing even more money. Anyway, I was able to recover my funds using other means. I do hope my experience will give folks more insight into getting their funds back.
Hello, you should really be aware of these scams. We recommend you to read our articles about binary options scams. So you are not gonna lose your money again.
this is an company with very big cheaters.
don’t work with them. you will loose your money
Hello, this company doesn’t have a good reputation and many people get scammed by them, that’s right.
not spoke to them but binary robot 365, binary crypto robot, trade invest 90 are all scammers, the credit crd processors celtic pay ltd and hithcliff and ilegally claiming to process creditcard payments, they are both owned by bulgarians and although have registered office in the uk they have no office or person in the uk so they are fake too. roger stuart poppleton was a director of hithcliff ltd but he is also a scammer an has been a director of over 300 companies, investigated by the insolvency service and all by the police at the moment
zoomtrader scammed me out of 15000 euros of my own money 15000 proffitt. when i told them i couldn’t invest any more, they asked me to get a loan of 25,000, when i told them icouldn’t get it even though i didn’t try, they called me on the Monday and gave me a trade of 5000 units of ltc/usd which when clicked buy went to minus 30,000 euros they disconnected the all and crashed the websire. When it came back i had lost all but 1400 euros, i looked at time of open an close of trade and they were exactly the same, what real broker gives you a trade like that? they new my balance and new 5000 units would equal total of all my money. I got no e-mail answer when realised i had been scammed only phone calls claiming it wasn’t a scam, i am not stupid they tried to get me only to lose the last 1400 euros, kept phoneing, they scammed me as i told them i had mental health issues, binary robot 365 connected me to zoomtrader and they are scammers too according to UK FCA regulator. be warned
Thanks for your Review Mark.. Did you try contacting the binary options fraud refund company?
yes, this is correct and true
I put my money into BinaryRobot365 and they passed my details to Zoomtrader, so i wouldnt trust any of them.
They are all a scam, keep your money in the bank, its the safest place!
WARNING: THE BITCOINCODE AND ZOOMTRADER ARE FRAUDULOUS WEBSITES!
(thebitcoincode.com, thebitcoincode.com/app and zoomtrader.com)
My bad experience with Thebitcoincode / Zoomtrader and this hidden SCAM:
After registration with Bitcoin Code and payment of an initial capital as requested to
their Cashier Zoomtrader England one has to select between “autotrading” and “manual trading”.
I selected “manual trading”. Then Bitcoin Code switched automatically to Zoomtrader as their
Broker (same software!).
Then a person called me in Skype as “Trading-Consultant” of Zoomtrader. He started immediately
the first 5 tradings with me. Not mentioning anything about their “Bonus”-TRAP as per their
Rules and Regulations.
With the first trading one is accepting automatically (TRAP!) the Rules and Conditions of Zoomtrader, especially paragraphs 2., 18., 19., 21. and 43.
Paragraph 2: By creating an account and using Zoomtrader’s website you automatically are accepting their Terms&Conditions!
Zoomtrader is applying at their sole discretion a Bonus of the same amount as you paid
as additional working capital, without informing you.
According to the paragraph 19. “Withdrawal Conditions”, contained in the Terms and Conditions,
the next BIG TRAP appears:
“If you have received a bonus in your account you are required to execute a minimum trading volume of 40 times for every €/$1 bonus in order to withdraw your funds.”
Without the „Trading Consultant“ you never will succeed to reach this goal (!) because already
on half-way or less the „trading capital“ will come to zero and you cannot continue trading!
Then latest you realize: YOUR MONEY IS LOST!
The first „Trading-Consultant“ executed a few successful tradings with me within a limited time of abt. 5 minutes only, mentioning that his time is very precious having other big business going on. He said: „Only if you will pay to Zoomtrader bigger funds I will do with you the „real big business“ where every party can earn. I must earn money for my career. Otherwise I will stop trading with you“. He did it.
Then another „Consultant“ in Zoomtrader called me. He made 1 trade with me and thereafter he started the same game with me: asking for more „capital“ money to pay for the „real big business“ because he, too, has to earn money. Otherwise he would stop trading with me. He did it and said that he will return the trading with me to the first Consultant. To both of them I confirmed many times that I do not have more money to pay to Zoomtrader.
Bitcoin Code and their Broker Zoomtrader (same software!) are promising in their Websites that one will earn money by signing in and investing some money as trading capital.
The relationship between Zoomtrader and their „Consultants, dealing with the client, is unknown
and of no concern to the client, naturally.
Without assistance by the Zomtrader Consultant, trading alone as beginner you have no chance ever to reach the 40 times trading volume because even not yet on half way your „working capital „
will be gone and nothing left to continue trading!
If you paid 3.000$ to Zoomtrader they will add 3.000$ as Bonus. Your trading capital then will be
6.000$. The „Consultant“ uses max. 10% per day = 600$. 5 times per week are 3.000$, per month
12.000$. It would take 10 months to reach the requested Bonus transactions of 120.000$ .
Time enough for the „Consultant“ to request again and again from you more money for the „real
big business“ otherwise he will stop to work with you,
By their adding a FRAUDULOUS Bonus behind each payment the CHEATING will continue.
Bitcoincode and the Consultants of Zoomtrader are promising in their websites: „Your money is safe with us and you always can claim it back“. This is a BIG LIE!
In paragraph 43. of the Terms and Conditions, for withdrawal a „Form“ must be filled out.
In the lower half, however, is marked: *Funds for withdrawal are subject to the Bonus Terms&Conditions“. TRAP again!
WARNING: THE BITCOINCODE AND ZOOMTRADER ARE FRAUDULOUS WEBSITES!
Do not invest any money with this company they are a a
Scam you will only loose your money i put £500 into there account did not invest in any currentcy when i got no help from them i wanted to with draw my funds i cannot get them to put it back in my account .do not invest in them
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LEGIT Binance Reviews: SCAM or LEGIT?
Thread starter Yugocean Start date Dec 27, 2020 Tags binancebitcoinbitcoin trading
Binance is a cryptocurrency exchange.
That means that you can deposit cryptocurrency, and exchange it for another cryptocurrency they offer on their site.
How does it work?
You make an account, verify your email and go to your balance to deposit coins.
After depositing your coins you can exchange it for another cryptocurrency that they have available on the market. To see what coins they offer to click here.
Binance is currently the biggest exchange worldwide with the most liquidity on the market.
This means that even when you purchase large amounts of cryptocurrency you won’t influence the market.
Binance rocks a couple of features that are interesting to keep an eye on.
First off I recommend you start using 2FA on Binance. With 2FA your account is much safer since a hacker cant access your account without having access to your 2FA codes, which is pretty much impossible. You can use Google Authenticator or Authy for the verification.
Second, you should take a look at BNB (Binance Coin).
BNB is a cryptocurrency made by Binance which reduces trading fees on the platform.
The more BNB you hold, the more reduced fees. This is very important for day traders because fees easily stack up and become unmanageable if you want to make a profit on small margins.
When you trade on Binance with BNB in your account, you have the option to use BNB for the fees. You can disable or enable this feature in your profile settings.
The first year you use BNB you get 50% discount on the fees.
The second year 25%, third year 12.5% and the fourth year you get 6.75% discount on the trading fees.
If you hold a lot of BNB you also invest in the future of Binance, since the exchange buys the coins back every quarter with 20% of their profits. Time this right and you can make a decent profit.
Also, since Binance has plans to go decentralized in the future, you might want to hold BNB since it will be used for the decentralized exchange.
Third, if you are new to trading the site offers you to learn at their academy called Binance Academy.
This section of the website has various topics that explain to you how everything works on an exchange and make you more knowledgeable about cryptocurrency.
With topics such as “what is liquidity” and “what is crypto jacking” you get a good understanding of how various parts work of cryptocurrency and this helps you make good investment choices. There is always a part of uncertainty when investing, but you can minimize the risk this way.
Binance also has a Lab, which invests in cryptocurrency projects which they think has potential in the future. This is a great way to get an early look on new projects and try to follow the Binance investment team in their choices.
The last and one of the most important things Binance can offer you is their Trust wallet.
Since Binance is a big site and you want to keep your funds safe if you want to use exchanges fast you need a reliable wallet for cryptocurrencies such as Bitcoin and altcoins.
Compared to other wallets the Trust wallet is very secure, because you are the only one who can access your private keys, and the trust wallet is completely anonymous.
They have an app for Android and iPhones. ERC20 tokens and Dapps are supported and you can add new ones if you feel the need to.
If you want your coin listed on Binance use their contact form.
All fees from the listing are donated to charity.
So far, Binance has always let me deposit and withdraw very fast, altho the fees can be pretty high.
Make sure to do your own research on what coins you should invest in on Binance since there have been problems in the past with a few cryptocurrencies that had a pump and dump on the exchange (Digibyte).
Do you use/used Binance? What is your experience?
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