BinaryTilt is an unregulated broker owned and operated by Chemmi Holdings Limited located on address 47 Churchfield Road, London, England, W3 6AY – Company number: 9870892. Business Address: 2nd Floor, 1-2 Broadgate, London, Greater London, EC2M 2QS, United Kingdom. Support can be reached via email at; [email protected]. Chemmi Holdings appears to own several other Binary Options domains as well; MaxCFD.com and BinaryOptionFlow.com.
Is BinaryTilt a Scam?
The company is not regulated, they and are often warned or hunted by the authorities, an example from one such case was from ASIC in Australia that announced that BinaryTilt “could be involved in a scam”.
Another worrying fact is that the traffic is significantly lower than before, probably due to the crackdown on BinaryTilt by regulators. You should also note that the number of very serious complaints against this company has increased lately and are mostly about withdrawals being impossible or scam account managers! This could also be a second reason for the drop in their traffic and it also strengthens the fact that you may want to avoid them.
Editor’s Note – Why Does BinaryTilt Suck in 50 Words
Well, the website took ages to load and it isn’t quite as flashy as some other top brokers. Maybe it’s just an overload, but I’ve tried a couple of times and the speed was bad. Also, they aren’t yet regulated and don’t seem to care about regulations at all. Update 2017: Seems they went from one extreme to another. Now, the background is a fast moving graphics that gives me a headache so I tried scrolling down but on each part there is something that pops out from left or right or some graphics, damn I’m lucky I didn’t have a seizure!
Why Doesn’t BinaryTilt Suck in 50 Words
BinaryTilt.com is not a new broker that has been on our radar since 2014. The company was started in 2013 as a New Zealand based binary options broker but has since moved in order to comply with EU regulations. They are operated by a holding company in London and used to operate under the guidelines of CySEC even without official sanction. This does not mean that they obey CySec’s rules. On the contrary, they’re still offering bonuses which are banned by CySec, and there are other signs indicating that they are actively working to evade regulations. For example, the recent change of their address and new incoming regulatory warnings.
Should I Open an Account With BinaryTilt?
Regarding the platform I found it to be quite good. They have all the standard trading styles including high/low, range, one touch and On Demand. They also have the newer Ladder Options, CFD/Forex trading a new feature that allows for binary limit orders. The high/low, range and one touch all come with intraday and end of day expirations while the On Demand options are where you will find the short term 60 second, 5 minute, 10 minute and 30 minute options. The long term options have end of day, end of week, end of month and on out for several months, great for long term and swing traders.
These can all be traded with a fairly decent asset list. They have 26 forex pairs, covering all the major crosses. There are 33 stocks as well, mostly US and EU based companies. They also have 3 commodities and 11 indices. Commodities included gold, silver and oil while indices are primarily US and EU with a few Middle Eastern and Asian as well. Range and one touch options are a little different from other brokers. Each is available to trade when markets are open and are based on a range. If you are trading one touch, a range will be projected on either side of asset price so you can buy in at any time prior to the options expiry all that is required is for the asset price to touch the range once before expiry.
Banking with this broker is easy and well explained. They accept the usual credit cards and wire transfers but also include Skrill, not to mention ChinaUnionPay for those traders based in China. Withdrawals can be made through Skrill, Credit Card and Bankwire. The only limitations are that you use the same account to deposit and withdraw funds. Minimum deposit is $250, minimum withdrawal $50. Usually, using Skrill or similar e-Wallets means quicker withdrawals but according to BinaryTilt, all withdrawals may take 7-10 days whichever method you should choose for the process – which is a downside.
Something important to note here is that if you deposit and change your mind and want to withdraw, you will have to pay a fee of 50 Euros unless you take some trades first. There is also an annual dormant account fee of 25USD. Your account is considered dormant after 6 months of inactivity.
Moreover, their bonus terms and conditions have changed and they are not beneficial to traders such not being able to withdraw when accepting a bonus and that the terms can change at any time. In conclusion, since they are not regulated and since most comments found online are about difficulty to withdraw, we would suggest you pick a recommended broker instead of BinaryTilt.
To be honest, in the beginning, I couldn’t find too many complaints about the broker, and nothing registered officially but this has changed over the years. There are some complaints about the nature of New Zealand regulation but of course, they have given up on that themselves. Today, it’s different when it comes to complaints on this firm! There are more complaints regarding withdrawals and also regarding bad support. Overall, it seems that once trading goes well and come withdrawal time, you have to deal with very pushy account managers that don’t process your withdrawals. As we mentioned earlier above, Chemmi Holdings also owns additional Binary Options websites and domains that are not regulated. These sites; MaxCFD and BinaryOptionFlow.com are not regulated and look like copies of BinaryTilt with a new name and slightly different design. All of the three websites owned by Chemmi Holdings are accused of being scams. The complainers tell a similar story about their experiences with either of the firms: not being able to withdraw funds, aggressive phone sales and support that can’t be reached and scam bonus schemes. In conclusion, you may never be able to get your money back if you invest with BinaryTilt or any other firm owned by Chemmi Holdings.
BinaryTilt Regulatory Announcements and Warnings
06.07.2016: Australia’s ASIC warns unregulated BinaryTilt. The company has decided to co-operate with ASIC and take steps to ensure they are no longer providing financial services in Australia. Source: ASIC.gov.
22.01.2016: Canada’s OSC warns about BinaryTilt and their owner Depix Holdings ltd for offering services in Ontario without license. Source: OSC.gov.on.ca .
05.01.2016: Japan’s JFSA warns against Chemmi Holdings/BinaryTilt. Source: FSA.go.jp
27.04.2017: BSBC warns against BinaryTilt and Chemmi Holdings Ltd. Source: BSBC.bc.ca
15.05.2017: BinaryTilt appears on the Consob’s list of warnings. Source: Consob.it
06.06.2017: ASIC warns against Chemmi Holdings Ltd (owners of BinaryTilt) saying “this company could be involved in a scam”. Source: Moneysmart.gov.au
The broker offers a number of bonuses for new and recurring members. The most commonly offered is the 100% first-time deposit bonus but there are others. The first time deposit bonus does not have a minimum other than the standard minimum deposit of $250. It will take a larger deposit to unlock risk free trades and other promotions; you get 2 for $1000 deposit, 3 for $5000 deposit and 4 for deposits over $10,000. These work by refunding your account, with bonus money, any losses incurred by your first four trades. Bonus terms for withdrawal are 40X trade volume on bonus amount only. You can withdraw your deposit money at any time but if you have not met the bonus terms then you will forfeit the bonus and all profits and any losses will be subtracted from your deposit balance. Once a bonus is accepted, you may not be able to withdraw any funds and the terms and conditions for the bonuses may change at any time.
Withdrawals are available via three methods: Credit card, Wire transfer or Skrill and regardless of which method, it may take 7 to 10 business day to be processed which is longer than most other brokers who usually promise 3-5 business days or instant up to 24 hours for Skrill withdrawals.
All you have to do is verify your accounts as you would for any broker. Minimum withdrawal is $50 and comes with no fee once per month, after that 30USD per withdrawal. Wires and CC withdrawals may have a charge from your bank or processor. Warning: any withdrawal request prior to making any trades on your account will be subjected to a 50 EUR fee!
Trading Bitcoin With BinaryTilt
The SpotOption platform supports a lot of cryptocurrencies, and BinaryTilt takes full advantage of this, offering a bunch of tradable coins. Up/Down Binary Options are available for Bitcoin and Litecoin only, with very high payouts of 62% (yes, this is considered high for cryptos because they are very volatile).
However, things change when it comes to FX/CFD trading, as BinaryTilt offers more than 50 cryptos and crypto pairs. Users will find Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Dash, Ripple, Bitcoin Cash, Ethereum Classic and others, but also pairs like BTC vs EUR, BTC vs ETH, BTC vs LTC, etc. (the list is very long so I am not gonna drop it all here). The available leverage is very high for cryptos, starting at 50:1 and going up to 300:1. This is very good but be careful that leverage increases potential rewards and more importantly, it increases the risk.
User Friendly 17/20
The platform itself is a common SpotOption platform which is nothing special in today’s industry comparing to the unique platforms that brokers use as of lately. The first page of the website is a bit too flashy which is annoying and slows down the loading but overall it’s pretty well-organized and you can find every info you need. Another downside, the website is only in English.
No of Assets And Expiry Times 16/20
Total of 59 assets including 26 Forex Pairs, 33 stocks. There were no commodities or indices listed under their “Asset Index”. They have good expiry for day traders and longer traders like myself. There are multiple daily expiries as well as 60 second, 5 minute, 10 minute and 30 minute from purchase. Longer term expiry goes out for 6 months or more in some cases. These are more than good for the day traders, ample even. Some expiries are not available for minor assets.
Commissions Support and Effective Return 17/20
This broker, like all binary brokers, does not charge any fees or commissions for trading. Support was OK, my chat was interrupted a few times, but overall I was OK with the support. Return on investment ranges from 70-85% depending on asset, trade type and expiry, very good actually. Most high/low options pay 70-80% with range and one touch going up to 100%. Larger account sizes can qualify for additional payouts (up to 3% more), risk-free trades and end of month cash back rebates.
Deposit, Payment And Bonus 14/20
Minimum deposit is $250 and minimum withdrawal is only $50. Withdrawals fees are only $30 or equivalent. Notice that; any withdrawal request prior to making any trades on your account will be subjected to a 50 EUR fee! You can withdraw via Skrill, Credit Card and Wire Transfer. Bonuses are offered, including 4 risk-free trades, and come with a 40X volume minimum for the bonus amount only. Your money is locked after accepting a bonus and the bonus terms may change at any time.
Website Extra’s 13/20
There is the “Advanced charts” feature which comes with many indicators and technical tools.
BinaryTilt Overall Ratings = 77/100