The FMA in Austria warns against BinoTrader

The FMA in Austria warns agains BinoTrader

BinoTrader is not authorised to carry out banking transactions in Austria that require a licence. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others (Article 1 para. 1 no. 7 of the Austrian Banking Act (BWG; Bankwesengesetz)).

Details of the unauthorised firm - BinoTrader

Web: www.binotrader.com

How To Protect Yourself From Scams 

Brokerswatch recommends investing only with brokers that are regulated by reputable authority.

Reputable regulatory authority provides additional protection to investors by ensuring that financial firms apply proper standards and rules. Additionally, if the broker tries to cheat you out of your money, it is the regulator’s job to force the financial firm to compensate you for any wrongdoing.