Although LBinary has been around for a while, they’ve recently landed on our radar again, as they’ve upgraded and updated their offerings, making now a perfect time for an LBinary review. Worth noting upfront is their offer to new account holders of three insured trades for free as well as a 100% welcome bonus. They have also eliminated their cash out restriction. These are certainly great incentives for anyone looking to open a binary option account.
Minimum Deposit: $250
Minimum Trade Amount: $25
Maximum per Option: $3000
Offices: Nicosia, Cyprus; London, UK; Victoria, Seychelles
Languages Available: English, German, Russian, Spanish, French, Italian and Arabic. Turkish coming soon.
The design of LBinary’s platform is what makes this broker standout. The colors blend comfortably and the layout is simple and stylish. We tested the UI and found that unlike other platforms available through other brokers, it was quite adaptable for both short term and long term use. The staff at LBinary is constantly working to improve any glitches that still come up over the course of time.
When choosing a broker for any investment vehicle, one of the main considerations to keep in mind is their trustworthiness. If you can’t depend on your broker to do the right thing for you and to be honest in monetary matters, you will not find any pleasure in trading or investing and it isn’t something you should waste your time and money on. Trading in binary options is no different.
One way to check out the trustworthiness of your broker is by using the services they promise to provide their clients. Executing entry and exit trades in a timely efficient manner is of major importance. A few minutes can make the difference between profiting and losing on a trade. Opening an account for any broker is a simple process and taking your deposit is usually a breeze. When it comes to withdrawing your money, however, be extra cautious. This is when the true nature of the brokerage comes into play.
Here again, every minute can be vital. Prompt withdrawals ensure that the money is available to the trader so he/she can turn it over and carry on trading.
LBinary claims to release withdrawals within 72 hours for all account types. Many traders even report seeing the money in their account within a shorter time frame. Since this is such an important feature, it gave us confidence that the people at LBinary can be trusted to handle other aspects of our accounts.
In general, we found the staff at LBinary courteous and forthcoming. When they were in doubt of any answer, they willingly offered to have someone get back to us with the correct information. And indeed, they did. LBinary also provides tutorials at different levels, for novice and for more experienced traders. Group webinars are being considered as an option in the future.
LBinary offers an impressive range of tradable assets including stocks, currencies, commodities and indices, amounting to dozens of options. These assets can be traded in multiple ways, including 60 second trading, One Touch trading and the ever-popular Option Builder.
Only the Open Platform has a different look than the others, and it may be something worth trying for those looking for a different type of experience.
LBinary offers a 100% deposit bonus (up to $3000) just for opening an account, which is extremely generous as compared with other binary brokers. Once a trader has an established account, however, LBinary is not so eager to release bonuses and prefers to offer other incentives, such as free tutorials, chat and 24-hour client service.
In short, LBinary is an interesting binary brokerage, pleasant to deal with and dependable.
I too feel like I have been a victim of L Binary
There are 4 issues which have affected me personally
1) The success rate of trading using LBinary Brokers and Analysts is very low.
When I was talked into opening a VIP account I was told that the number of quality winning signals would be around 80% and this was demonstrated to me. However the winning rate has been running at only 40% for over 4 months now. My broker has been trading for me on a managed account and he has only been able to achieve a rate of 40% winning trades.
2) Bonuses and Insured trades = An entrapment
L binary offers a new investor bonuses and insured trades but what they neglect to do is inform you of the trading limit you need to meet in order to be able to withdraw your money . The trading limits = (deposit + bonus + insured trades ) x25 which in my case equates to nearly $ 3 million dollars. That means before I can withdraw a single cent I have to spend $3 million on trading – and unachievable task especially when the winning trading rate is only 40%
The brokers did not advise me of this, in fact I have it in writing that they said I could withdraw money after a month. The T & C are not available on the website – when you click on it takes you through to a chat room. In the FAQ the question on bonuses is general and does not detail that formula. They do not get you to sign a T & C form
The brokers will tell you one thing but this is not honored when you ask to withdraw money.
3) Over Promise and Under Deliver
When talking you into opening an account especially a VIP account Lbinary brokers over promise and under deliver. Beware! I have been promised the earth by a broker and his boss but when it comes time to deliver they do not want to know you
4) Dispute Resolution
When things go wrong it is impossible to get hold of a manager to take action and I have found emails have not been responded to and my calls have not been returned. Even though they admit making a mistake there is no compensation other than investing more money, getting more bonuses and being entrapped even further.
My broker did not follow the trading rules of either passive or active trading and did not follow instructions to only trade to a certain figure. As a result the broker lost all my money. In stepped his boss and promised if I invested x amount more he would ensure the account was successful and that I could withdraw half my investment in one month and the other half in the second month. I have requested that that money be withdrawn but it has been denied due to the fact that I had not reached the trading limit – the first time I had heard about it
State of the problem : ongoing
Dear Reader/Investor/Exisitng live account holder,
I am a victim of fraud from http://www.lbinary.com. I strongly inform all future or current investors not to put any additional funds or invest any new amount
with this broker. Once your investment is in their hand you had burned your finger. You will never get back your investment. Once you invested they
will keep on calling you telling that good opportunity in market and put more money. Don’t ever fall prey to such requests. They will never return your money.
THERIR TARGET IS MOSTLY FROM MIDDLE EAST INVESTORS. RON RAMNY AND MARK IS THERE WHO WILL CHEAT YOU AND YOUR MONEY.
BEFORE YOU INVEST MONEY, PLEASE CALL ME OR MAIL ME. I SHALL GIVE YOU ALL DETAILS IN MY MAIL. THERE ARE A GROUP OF OTHER BIANRY TRADERS SITTING IN UK
WHO DON’T HAVE A REGISTRATION IN UK. THEY NORMALLY TOOK REGISTRATION IN CYPRUS/ BAHMAS/SECYHCELLE/ CAMYAN ISLAND AND OPEN A BRNACH OFFICE THERE.
GET CHEATED ALL WAYS AS TEHRE IS NO REGULATION IN UK.
I REQUEST ALL THOSE WHO CHEATED THORUGH THIS BROEKR TO JOIN WITH ME AND FROM A GROUP AND THEN WE CAN COMPLAIN TO MASTER AND VISA CARD AND
ON REPEATED REQUESTS FROM DIFFERENT CLIENTS THEY ARE NOT ABLE TO TRANSCAT IN THIS NAME.
MY CONTACT DETAILS ARE HERE BELOW:
EMAIL : [email protected] , TEL : +97150-4451629
YOU CAN CONTACT ME AT ANYTIME. DROP ME AN EMAIL BEFORE CALLING .
THANKS TO ALL !
Worst people to trade with. FraudsRk1985 February, 2014
I have had good experiences with Lbinary. Their new website is high tech and pretty easy to navigate. The only thing missing is a long term demo account.larrykos January, 2014
I'm not sure what you're talking about - if you read the terms and conditions you should know exactly what to expect. I've traded with lbinary before, and had a totally fine experience. I was able to withdraw when I wanted and everything was fine. Lbinary has great customer service and is great for new traders like me.Shel3245 December, 2013
Be aware of all Terms and Conditions. Account manager will tell you something different and even put in writing ID; email and Lbinary does not honor written information from account manager.bmarshall6728 December, 2013