eXbino is operated by Seymour Marketing Limited, incorporated February 2016 – company number is 9990425. Their registered address is: 19 Leyden Street, London E1 7LE, United Kingdom. In UK, their phone number is: UK +44 203 8070606. Their email is [email protected] Upon further research, we found out that Seymour Marketing Limited is also the owner of Exbinog.com – a sports betting website and Bitplus – a bitcoin trading broker and their focus is in the Polish market. Despite operating from the UK, we could not find any FCA regulation for Seymour Marketing Limited nor eXBino. There are no other regulatory bodies with jurisdiction so eXbino is an unregulated broker.
Is eXbino a Scam?
eXbino is not regulated and that’s usually not a good sign. However, they seem fairly transparent if you compare them to many other (even regulated) brokers. There is a ‘Conflict of interest’ page explaining the various conflict of interests that may occur so the client is fully aware of what to expect and when you know that, you will know how to avoid them. Overall, they seem to follow rules as if they were a regulated firm. Obviously, actions counts more than just words and we did find a Polish site that ran a “thorough” investigation of eXbino. On this review site, eopcje.pl, there were a few complaints but most of the accusations were due to misleading information regarding being regulated or not. I couldn’t find any of the mentioned issues on the eXbino site, probably due to the fact that the article was published in January 2016, before Seymour Marketing Limited was incorporated. This means the research was done prior to Seymour Marketing Limited taking over eXbino (February 2016) so the less favorable activities belong to the previous owners.
Editor’s Note – Why eXbino Doesn’t Suck in 50 Words
From what I can read on their website, they are really transparent when it comes to sharing information about themselves but also about the conflict of interest between client and the broker. They also promise instant withdrawals or up to 30 minutes max. (OBS: not for wire transfer, does not include processing times at your bank or card issuer).
Why eXbino sucks in 50 words
The lack of regulation is a big drawback, of course it’s understandable that regulation takes time but I could not find any info regarding any regulation being in the process or not. In addition, I don’t see a free demo account and that sucks because today, new brokers usually offer some type of demo to their clients.
Should I Open an Account with eXbino?
eXbino gives the impression of being transparent thanks to all the information provided about themselves and their interests. This seems to be a good start for Seymour Marketing Limited since they took over eXbino in 2016. What I don’t like is the lack of a demo account and the fact that their bonus terms can be changed at any time without prior notice. This makes it unsafe to accept bonuses but of course, you could just say no the bonus.
Their platform is a customized SpotOption platform equipped with the “Strategy Advisor” which includes RSI, Moving average and Bollinger bands. They offer Binary Options, Pairs, Long term, 60 second, One Touch, Ladder, FX/CFD and social trading which are all the standard SpotOption features and covers what most traders need.There is not really that much that is unique here so I will talk about the part that is more attractive, their conflict of interest policy.
“The Firm or a Related Person is likely to make a financial gain or avoid a financial loss at the expense of a Client.” – From eXbino Conflict of Interest Policy
Of course there is much more to read in there but such statements shows their transparency and once you have read it you should know that (for example) your account manager is not going to make you a millionaire.
In addition, another favorable thing about eXbino is that they seem to not have any intentions on delaying your withdrawals. The first one might take a bit longer than normal since they require proof of address and identification but after that, withdrawals take up to only 30 minutes to process. Therefore, if you are using Skrill or other types of “e-wallets” that eXbino approves, you should expect to see your withdrawal within the hour. That is with exception of Wire transfer for obvious reasons, this takes 3-6 days which is normal.
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The reviews and comments I found belong to eXbino’s past owners – Exclusive LTD. I did however manage to find some recent (Polish) comments from 2016 but they were positive.
Since the new owners have been in charge of eXbino for only about 10 months, it’s too early to draw a definite conclusion. On the other hand, the minimum deposit is only 10$ should you wish to try them out despite the lack of a current regulation.
There are various bonuses depending on your account type. The requirement for the turnover is about 30 times the bonus. Unfortunately, they also mention that they can change the bonus terms at any time so be sure to get your terms in writing whenever you accept one.
Withdrawal rules follow the AML policy so you need to verify your account with ID and a utility bill. eXbino does a good job showing exactly what info you need to send and which numbers on your card that you don’t need to send. It’s illustrated in a picture under “Deposit and Withdrawals”. There are no fees for the withdrawals but the minimum size is 10$. They will be processed instant or within 30 minutes depending on your withdrawal method.
User Friendly 15/20
There are 6 languages; English, Russian, Polish, Italian, German and Czech. The education center needs additional work, I could find eBooks but no videos as advertised there.
Number of assets and expiry times 15/20
You only gain access to 10 assets with the standard account and only 30 assets for the 250$ deposit. In order to gain access to all the assets (33 currencies, 7 commodities, 37 stocks, indices 17), you need to upgrade to Gold account for 1000$.
Expiry times are standard SpotOpion expiries, long term, 60 seconds and intraday starting from 15 minutes and up to 1.5 hours.
Commissions, Support and Effective return 17/20
All account holders can withdraw for free once a month. Except for the Gold+ and VIP account holders who are eligible for unlimited free withdrawals. There is no live chat which is a huge drawback but they do have a Skype account you could talk to. The payouts are fairly high, up to 85% and up to 3% payback for Gold and above account holders.
Deposit, Payment and Bonus 15/20
The minimum you can deposit is 10$ and the available methods are:
VISA, MasterCard, Skrill, Neteller, Sofort, MonetaRu, Transferuj.pl, Bitcoin and Wire transfer.
The payments shall be processed within 30 minutes or instant if “e-wallets” are used and if your account is verified and approved according to AML policies. Bonuses vary between 50% up to 100% and required turnover is 30 times the bonus volume. Those terms however, can change at any time without prior notice so be sure to check first.
Website Extras 12/20
There are no unique extras here except for the standard SpotOption features such as social trading and the advisor which includes RSI, MA and BB.
eXbino Overall Ratings 70/100