General Information
Binanfx presents itself as an online trading platform their clients access to a series of trading instruments, including Forex, Commodities, Cryptocurrency, Index, Shares CFDs. Binanfx is not subject to any regulation to operate illegally. And thats why WikiFX has given this broker a very low score of 1.04 /10. Please be aware of the risk.
Market Instruments
Clients are provided the access to various trading instruments including Forex, Commodities, Cryptocurrency, Index, Shares CFDs.
Spreads
According to Binanfx, spreads on fx major are quite competitive, with beginner minimum spreads starting at 0 pips, beginner average spread at 0.16 pips, Standard minimum spread starting at 1 pips, standard average spreads at 1.16 pips.
Leverage
Binanfx does not elaborate the maximum trading leverage it provides. Since leverage can amplify both gains and losses, it can result in devastating losses for investors who lack experience. If you're just starting out in the trading world, it's best to stick with the lower size, no more than a 1:10.
Payment Methods
When it comes to payment methods, clients can make a deposit or withdrawal through VISA, MasterCard, Neteller, Bank Transfer, as well as Skrill, BTC Transfer.
Withdrawal forms received before 21:00 (GMT) will be processed the following day. If received before 07:00 AEST, they‘ll be processed on the same day. Withdrawals made by Bank Wire Transfer usually take 3-5 working days to reach clients’ accounts.
Customer Support
Clients who have any general questions or need technical support can contact this broker through info@binanfx.com, or support@binanfx.com.
Risk Warning
Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.
The information presented in this article is intended solely for reference purposes.
Pros & Cons
Frequently Asked Questions
Is Binanfx Regulated？
Binanfx is not regulated anyway.
What tradinng intsuments can I trade with Binanfx？
Binanfx offers access to Forex, Commodities, Cryptocurrency, Index, Shares CFDs.
What is the minimum deposit to start with Binanfx？
The minimum deposit to start with Binanfx is not disclosed.
