Binolla Reviews & Complaints: Analysis of Risks & Red Flags

The first question you should ask before choosing any forex broker for trading or investment purposes is simple: Is it legitimate and safe to trade with? This article examines the broker Binolla, looking into its regulatory status, Binolla Trading App, and real user complaints.

Is Binolla Regulated?

According to information provided on the companys website, ZEN E-WAY LLC (operating via www.binolla.com) claims to be authorized and regulated by the Mwali International Services Authority (MISA) under license number T2023319.

However, MISA is not considered a top-tier regulator. Well-known and trusted financial regulators include:

• FCA (UK)

• ASIC (Australia)

• SEBI (India)

• CySEC (Cyprus)

Licenses from top-tier regulators generally provide stronger investor protection, strict operational guidelines, and better transparency. Since Binolla is not regulated by any major financial authority, your funds may carry a higher level of risk. Therefore, traders should proceed with caution.

Binolla Trading App

Binolla offers traders a mobile app for trading. This app is available for both Android and Apple (iOS) users. You can download it from the Apple App Store or Google Play Store. The name of the app is “Binolla Trading Analytics.”

Binolla Reviews & Complaints

Many users have reported issues related to withdrawal delays, blocked accounts, and have described Binolla as a scam platform in their reviews. These complaints raise serious concerns about the brokers reliability and trustworthiness.

1. Alleged Misguidance by the Broker

A recent complaint claims that the broker misled a user by urging him to deposit money and begin trading. The user says the broker added bonus funds without his consent, and when he earned profits and tried to withdraw them, his account was suddenly blocked.

2. Concerns About the Binolla Trading App

Another user reported concerns about the Binolla trading app, saying it initially displayed fake profits. According to the review, the app did not allow deposits but repeatedly requested additional payment information. The user advises others to be cautious and avoid investing money through the platform.

3. Multiple Pending Withdrawal Requests

Several users have raised issues regarding delayed withdrawals. One user stated he submitted a withdrawal request a week ago, but it still shows as “in process.” He reported receiving only automated responses from customer support and claims that many users he knows have their funds stuck as well.

4. Accusations of Scam Tactics

A reviewer described the broker as a “scam platform,” warning others to stay away to protect their hard-earned money. The user alleges that the company asks for repeated deposits under the guise of investment, but stops responding once withdrawal requests are made or deposits cease.

5. Complaints About False Promises

One user shared that the broker makes big promises and attracts people with claims of high returns, but in reality, does not deliver. The reviewer strongly warns others against engaging with Binolla, alleging that doing so may lead to financial loss and negative experiences.

6. Account Closure After Taking Funds

Another review claims that Binolla.com took the users money and then closed the account. According to the complaint, the company blocks users, gives false reasons when profits are made, and ultimately keeps the funds.

Binolla Review by WikiFX

According to WikiFX, Binolla has an extremely low score of 1.37 out of 10. WikiFX also states a warning: “Low score, please stay away!”

It has been verified that this broker currently has no valid forex regulation. Please be aware of the risk!

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