Traders frequently encounter the common scenario. Their broker renders financial services, updates its official website, attracts new clients etc. and then, bang, everything goes wrong. The broker disappears ripping off clients’ solid funds. Sadly, people are still caught in a trap of scammers. Everyone knows that it is essential to check a company’s reputation, find out about its license and a watchdog, and search for feedback on the Internet. Nevertheless, dishonest companies woo would-be clients with generous profits. So, a client is easily hooked and ready to trust swindlers with his/her money! Binary Uno is the case. Remarkably, the broker defrauded not only beginners but also savvy traders of large sums of money. Clients complain about missing USD 20,000 or EUR 14,000.

Aldis
BinaryUno is a company that entices people with big promises. I came across one guy called Roman Dementyev who introduced himself as a head of the financial department. He promised a pie in the sky when he was persuading me to replenish an account. That guy phoned me a few times a day. When I needed to withdraw money, first he was playing hide-and-seek and then disappeared. So, my EUR 14,000 has gone!

Well, this company promises too much. Let’s figure out what trading conditions and other perks were promoted by the company so that traders were ready to deal with Binary Uno.

Trading conditions

The broker invited clients to trade binary options. The company offered standard trading conditions as a service provider.

Its trading conditions included:

• a standard toolkit of trading instruments such as currency pairs, indexes, shares, and commodities;
• the lowest initial deposit of $250;
• the ultimate yield is 85% per deal;
• deposit bonuses from 35%.

How did it happen that the company promised its clients the moon and attracted large investment to its accounts? Based on traders’ feedback, the broker’s customer support did a great job. The thing is that a client should specify a phone number when opening an account with Binary Uno. A manager contacted a client and with psychological ploys induced him/her to deposit an account with $250 and begin trading.

Valentin
They were forceful about trading with them. Indeed, I went into trading. Then, my personal manager Martha vanished (she introduced herself like that). They withdrew $13,500 from my account in January. Later, I was assisted by Alex Blagov and Yanis Uvarov but they also disappeared.

Aleksey
I’ve also fallen prey to Binary Uno! I deposited $900 as I was fooled by fairy tales of Dmitry Verbitsky about an insured deal. So, I was betting on Amazon but the deal was lost. They refunded the money to my account. Then, following his advice I again made a couple of deals that also failed. I opened a deal with the last $300 and gained $590. I decided to withdraw my profit as I didn’t see any sense working with them. Damn it! My request was denied. They said I had to earn that money back in the amount 20 times bigger! I had no way but blew up the whole deposit. I’d rather forget them. I still trade, though on a different platform where everything is clear and no one bothers me with phone calls. I don’t rake in big cash but I earn roughly 500 bucks a day. Binary Uno is a scam!!!

Remarkably, unlike other brokers from the black list, Binary Uno managed to swindle big money out of its clients. Many of them lost not only modest $250 but thousands of dollars. What particular tricks did their managers use? The question is open.

License and regulation

Did the broker hold a license? Was it regulated by any watchdog? In fact, nothing. The company launched its activity in 2015 in Russia and never made any attempts to obtain a license. There are enough traces on the Internet that the company had been operating entirely in the Western market until 2015. Bearing this information in mind, everything fits together. Literally every review of Binary Uno identifies the broker as a scam. Logically, the company shifted focus towards the post-Soviet countries and set up its scheme to con credulous Russian-speaking people out of their savings. Their naivety is amazing! Look at this review:

Smirnoff
First, I hadn’t believed in abundant negative comments until I myself was fooled by those con artists. I gained nearly $1,500 for two months and requested a withdrawal. On April 10, 2020 I entered my profile and saw that the swindlers had blown up my deposit. Only $200 was left on my account. I hadn’t opened a single deal since I required a withdrawal, but a request itself was deleted from my records. The customer support suddenly vanished, though they had been plaguing me with phone calls every day asking me to add more money to my deposit.

In other comments, traders complain about failure to withdraw profits, reducing a balance to zero, and cheating managers who were in charge of pooled investment. It goes without saying that not all reviews can be trusted. A flood of comments usually baffles traders. When it comes to Binary Uno, no one has posted positive feedback. So, the broker’s reputation raises doubts about its reliability. It is too late to discuss it because its official website is now unavailable.

Conclusion

We are not going to reinvent the wheel. Let us remind you that you should not entrust your funds to dubious dealers who promise you to double your investment in no time at all. For a start, make sure you check a broker for a license and a regulator, find out how long it has been operating in the market, and get to know feedback from traders. Remember that almost 80% of brokers could be shady firms like Binary Uno running their scams.