Binany is a platform for trading binary options, launched in 2018, with an average rating of 4.3 stars in online reviews. The total number of clients in 2023 surpassed 3.9 million people, with over 2.4 million transactions per day. Judging by the supported languages, the company is targeted at regions in Asia, Africa, and South America, but it does not possess any licenses. The user agreement specifies two jurisdictions where the broker is located: the Seychelles and Cyprus. Yet, can one trust a firm that offers a return of 90% on a single transaction?

How to Trade

Binany offers a very simple trading process. After depositing funds, the following steps are to be taken:

  1. Choose the asset class. There are 4 types in total.
  2. Choose the size of the trade. The potential return is 90% if the trade is successful. The minimum volume is $1.
  3. Specify the direction of the price (up or down).
  4. Set the expiration time, from 15 seconds onwards.

The minimum deposit is $5, and transfers can be made through many electronic systems, for example, Neteller, Skrill, PayPal, Perfect Money, and others. In addition, Binany offers to try out the service for free on a demo account and earn additional income through an affiliate program.

Binany Vital Info

The broker boasts impressive statistics on its website. It claims the platform started operating back in 2018, and now it has millions of traders and just as many daily transactions. However, there are significant doubts here, especially regarding the multimillion audience. Why then are there so few online reviews? If there really were 4 million clients trading here, the internet search results would be filled with mentions of Binany. Moreover, the domain for the site was only created in 2019, not in 2018.

The firm lists the legal entity Crypex IT ltd, but a specific legal address is missing, although the jurisdictions of the Seychelles and Cyprus are mentioned in the user agreement. Neither CySEC nor the SFSA know of Binany’s existence, meaning the firm has no license.


What are the key facts about Binany?

The broker has been operating since 2019, although it assures us that it launched in 2018. Moreover, it is laughable to see that online reviews are hardly in the range of 100-200, but the site writes nonsense about 4 million users. Given the low popularity of the platform, there aren't even 100,000 traders here. The company lacks a license, as well as a specific legal address. Only the jurisdictions of Cyprus, where the management is based, and the Seychelles, under whose laws the organization operates, are mentioned.

What's the risk to my wallet when working with this broker?

There are two risks for traders here. The first is outright manipulation by the company, which clearly benefits when clients lose money because binary options represent a conflict of interest. The platform only earns money when users lose money. You may encounter fake quotes, rigged in such a way that you have as many losing trades as possible. The second risk at Binany is fraud, because there are zero guarantees, no license, and the firm has only been operational for a few years.

How can I give my thoughts about

Drop us a comment below! After moderation, it will appear on this page. Please note that we reserve the right to remove fake and spam reviews.

Where can I find out about suspicious companies like Binany?

If you wish to be warned against shadow business, you've come to the right place! Visit our blacklist of companies and learn more about dirty scam methods.

Do you have information about reliable and safe companies?

We also provide users with a carefully crafted list of financial companies that can improve your well-being and generate profits. Check it out, and don't hesitate.