According to our team’s research, Binary Goal does NOT provide demo accounts. We also found out that they do not rate highly in Google Trends and there is no significant data about them. As an alternative we selected the top brokers that provide a Demo account for free.
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Binary Goal – Scam Review by ProTraders
Founded in 2014, Binary Goal is a binary options broker that offers trading services to clients of the European, Middle Eastern and Asian markets. The broker is located in British Virgin Islands and is managed by a company called Dolce Formula Ltd. Recently, we conducted a research on this broker because although it appears to be very promising, there are certain elements that indicate that it could be a potential scam broker. In this review, you can find the honest truth about Binary Goal.
Is Binary Goal A Scam?
There are some shocking facts about Binary Goal that tell us that it could very well be a scam. One of the things that we have come across is a large number of negative reviews. Traders have lost a considerable amount of money as a result of investing with this broker. Their policies are not transparent and if you are inactive on the platform, they charge an inactivity fee which can eventually drain out your entire account. There are many problems that traders face when it comes to withdrawals as well. Locked accounts, suspended accounts and zero balance in account are some of the common ones.
The customer support staff at Binary Goal is unprofessional because they don’t respond to questions in a timely manner. When clients face problems during trading, they do not offer any kind of help. They are hardly available on live chat or phone. Emails also don’t get answered.
By looking at the facts, it is possible that they are a scam. Therefore, they are not recommended.
Demo Account at Binary Goal & Bonuses
They mention that they offer special tailored account types. We have not been able to find out what these account types are and what the requirements of getting started are. They also offer bonuses and rewards, but we advise traders to use caution before accepting any offers because they could influence your withdrawal ability.
Usually, if you accept a bonus, you won’t be able to withdraw your money unless you have fulfilled their minimum trading requirements.
Deposit & Withdrawal Methods
To make a deposit or a withdrawal at Binary Goal, you can use bank wire transfer methods or debit and credit cards. They don’t offer any kind of ewallet option which is mostly preferred by traders today. The minimum amount you need to make a deposit is $250. However, we have not been able to find out what the minimum withdrawal amount or the requirement is.
After our research we concluded that Binary Goal does not provide a demo account.
The lack of practice account and risk free trading makes this broker unsuitable for traders who want to learn how to trade without losing their investment.
I am David Raines, a Binary Options trader with years of experience in online trading. I write reviews of Binary Options Brokers, Auto Trading Software and Signals Providers.