Want to trade online and profit from huge payouts?
Worried that LBinary and its success promises are actually a scam?
Review LBinary, a relatively new binary options broker, launched in late 2013, and enjoying a constant growth rate.
Is LBinary a top broker?
To establish whether there is a LBinary scam or not, the best solution is comparing this broker to the leading binary corporations worldwide.
GOptions is a good place to start, because this is a broke catering to the same customer base as LBinary: the USA market. The difference between these companies is evident principally in the amount of tools and benefits offered. With GOptions, traders are guaranteed an accurate price quotation of assets. Tinkering with prices is one of the most common suspicions and complaints pointed at unlawful brokers, and GOptions solve this by issuing a guarantee to traders. Furthermore, they offer risk-free trades, Forex trading (from within the same platform), and same-day withdrawals:
While LBinary lacks the ability to give its American customers these advantages, in Europe and elsewhere, the gap with top binary options companies widens. TopOption is an example of what LBinary cannot offer you: regulation. A fully regulated company operating under the supervision of financial authority CySEC, TopOption is the largest binary broker worldwide, and besides this assurance it also gives you the largest and most reputable education center in the business, which includes access to highly professional financial advisers, free webinars and excellent tutorials. With a generous welcome bonus and tons of experience, this company is a perfect choice for traders outside the USA.
LBinary feature an interesting tool, called ifollow, which enables traders to observe, follow and imitate the transactions of top traders within its trading platform. While this is a nice addition, it cannot be compared to the type of free signals services offered by OptionBit, one of the largest companies of the binary options field. This broker is the creator of Algobit, and advanced software which is incorporated to your platform. Algobit is able to scan stock markets and process data using smart algorithms, which enable it to identify trades with the highest probabilities of accuracy. This amazing device can increase both the profitability and consistency of your trading account. OptionBit is also fully regulated:
What is LBinary?
While it currently falls short of the best brokers in the business, LBinary is not a scam. The site is legit, and indeed, the trading platform does not belong to LBinary, but rather to SpotOption, the largest platform provider for binary trading.
LBinary is located in Gibraltar, a tax safe-haven more commonly identified as the preferred location of online casino companies. It is common practice for corporations which are fully internet-based to set their offices based on the tax exemptions they may be given.
Owned by Targaryen Holding Limited, LBinary had been put into a bit of a scandal in January 2014, when the Cyprus financial authority issued a warning against it. While this announcement caused a stir and concerns about a scam, LBinary had never claimed to be regulated or related to this European country.
The LBinary Site
Considering that this is a relatively new binary options broker, LBinary’s site is very well structured, has several advantages, and should not be viewed as a fraud at all. Available in 6 different languages, LBinary is nonetheless a firm that caters to English speaking countries.
One of the bright spots is the asset list, which is extremely large and varied. This allows traders to create an investment portfolio that covers several market trends. The asset index is composed of currencies, indices, stocks and commodities, and in each of these categories, LBinary has much to offer.
Another positive surprise which results from this review of LBinary is their education center, which is mostly built on short video tutorials. While one should not expect to learn sophisticated trading strategies and risk control leverage systems, it does help traders understand the basics of both the online trading dynamics as well as the need for verifiable investment methods.
Payouts and Scam Rumors
LBinary offers the average 80% return on trades. While other brokers might offer more, this is not a reason to neither choose nor discard LBinary. What determines the success of binary trading is the consistency of the overall accuracy rate of trades, which can be improved by learning and implementing strategies and by using advanced signals services.
In spite of a site with many helpful features, an excellent list of assets and a customer service earning generally positive reviews, LBinary have not completely shaken off the accusations of scam. Why?
At this point, the most probable reason is the dynamics of binary options trading. This financial derivative can be very lucrative, but it is equally dangerous, as the level of risk is extremely high. Many new traders begin their experience with an expectation of earning easy money, and when that proves to be unrealistic, complaints start to be heard. It is common that at least a percentage of the trades who lose money to incompetence or inexperience will prefer to blame the brokers. This seems to be the main reason for the persistence of some criticism and fraud accusations against LBinary.
LBinary Scam – Conclusion
- While it has been linked to scam rumors and a warning has been issued by the CySEC, it does not seem as if there is any real reason to consider LBinary a scam
- This binary options company was launched roughly a year ago. It has since been able to achieve relative success in the industry
- LBinary is still not at the level of competence and professionalism of the top brokers in this field, but an initial review points to it potentially becoming a reasonable destination for new traders
- Nowadays, the lack of proper regulation and the absence of more advanced tools cause LBinary to be a less attractive choice for those wishing to trade safely and successfully
- LBinary’s advantages include its asset list, easy-to-use site and ifollow features
- Binary options trading is speculative. Implementing risk management methods and refraining from investing money one cannot afford to lose are keys to enjoying this online investment