LBinary Review

Review

** LBinary has been mentioned as one of the targets in several pending lawsuits and is reported to have solicited substantial deposits from a number of traders. The website has gone black as of late July 2016 and is no longer accessible.

LBinary, a brand of Chelestra Limited, Gibraltar, is a binary options trading broker that provides investors access to underlying assets such as stocks, indices, commodities and currencies. LBinary maintains locations in several places:  Nicosia, Cyprus; London, UK; Victoria, Seychelles.

Accounts

There are 5 different accounts to choose from at LBinary: Micro, Silver, Gold, Expert and Platinum. The first thing one notices when checking on these accounts is that there is no minimum deposit required for any of them. Payouts can be as high as 85%.

Account Types
Account Types

The other features of the accounts are clearly outlined. Each account is provided with its own personal Account Manager. The Account Managers are assigned according to an investor’s language and geological region and are available along with customer support, through telephone, email and live chat 24/7.

All account holders of LBinary receive a one-on-one live trading session with a professional binary option broker, upon their request. Platinum account holders are entitled to a VIP telephone line.

LBinary promises to release withdrawals within 72 hours for all account types. We were unable to test this assertion and recent complaints of difficulties by some traders with untimely withdrawals seem to have been resolved.

Features

When choosing a broker for any investment vehicle, one of the main considerations to keep in mind is its trustworthiness. LBinary does not have any regulation which is a shame as when it comes to dependability and trustworthiness, being under the aegis of a recognized regulatory organization can be very important.  

With or without regulation, one way to check out the trustworthiness of your broker is by using the services they promise to provide their clients. Executing entry and exit trades in a timely efficient manner is of major importance. A few minutes can make the difference between profiting and losing on a trade. Opening an account for any broker is a simple process and taking your deposit is usually a breeze. When it comes to withdrawing your money, however, be extra cautious. LBinary provides both services in a fair manner.

One of the platform features offered by LBinary is the Rollover option. Rollover Trading was established to help loss limitation. The feature allows traders to a rescue a failing trade before the expiry time lapses. LBinary allows investors to ‘Rollover’ trades which is useful when a trade is about to end with unwanted results. When used properly the ‘Rollover’ feature helps traders to not only save money that might be lost, but to turn it around so that the trade makes money.

The Rollover option has specific rules. It only allows standard Call/Put options only – no Option Builder, 60 second or One Touch. The trade must be an ‘Open Position’ and the ‘Open Position’ must be ‘Out of the Money’. The Rollover trade will automatically set itself for the next available expiry time, is not permitted on long term trades and it cannot be used on end of the day trades. A bonus of 30% is added to the initial investment amount.

An fully listed expiry chart for each asset is also available.

Education

The educational material offered by LBinary is somewhat limited and most of the information is similar to other binary options brokers.  I did like their daily market review which is provided by Bloomberg Financial News and which is posted alongside an animated video about trading with LBinary. The video provides information about the broker that doesn’t appear anywhere else such as the fact that LBinary uses the Nadex Exchange to execute their trades.

LBinary offers live classes as well as a series of special trading events webinars. The classes consist of live events like the ECB rate decision and the US NFP (nonfarm payroll) report as well. The weekly webinars are for 1-1.5 hours and all classes are free of charge to LBinary’s clients. Clients making first time deposits are automatically given enrollment into the level 1 course. The webinars offer live on-line trading with our top brokers as well as bonuses and awards.

Clients can earn enrollment to advanced classes with additional deposits, or bonus and promotions. Or they can earn points per trade to apply against free enrollment. Account Managers may award clients advanced courses.

LBinary’s mobile application is designed for smart phones and tablets that use either Android or Apple’s iOS technology. They can be downloaded from AppStore or Google Play and are simple to use, offer fast results, and can be accessed from anywhere. It covers all open options.

Bonuses

At the time of the review, the only promotion being offered by LBinary was the Refer-a-Friend Promo which is quite generous. For every friend brought in, the referrer receives $100.

Customer Support

Clients can reach a representative by telephone to several global numbers. Email contact and live chat is available as is an online inquiry form.

Conclusion

The LBinary website is user-friendly and most information needed by a trader is easily located. The fact that it is located in Gibraltar and doesn’t have any regulation makes one question its reliability but it has been around for quite some time now and seems to be holding its own in a highly speculative market.

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Features

LBinary offers several attractive features. But the fact that there is no regulation puts a bit of a damper on the broker no matter what it offers. Still, the choice of 5 accounts is commendable and with no minimum deposit for any of them, a new trader has a great opportunity to select an account that most suits his need and personality. Additional information about the trading platform would go a long way but the offer of a demo account is well appreciated.

Company Information

  • Broker's Name : LBinary
  • Headquarter : Gibraltar
  • Regulation : None

Account Information

  • Type of Broker : Binary Options
  • U.S. Clients Allowed :
  • Minimum Deposit : $250
  • Maximum Leverage : N/A
  • Account 1 : Micro
  • Account 2 : Silver
  • Account 3 : Gold
  • Account 4 : Expert
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Institutional Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

    • OS Compatibility :
      • Mobile
      • Web
      • iPhone
      • iPad
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • English
      • Arabic
      • French
      • German
      • Russian
  • Support Hours : 24/5
  • E-mail Support :
  • SMS Support :
  • Chat :

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Platforms

Proprietary

The description of LBinary’s platform is very sparse and there isn’t very much information provided. However, some information is available such as the fact that the platform’s pricing and execution modules use advanced technologies to insure traders’ overall satisfaction. It is also adaptable for both short term and long term use.

LBinary Trading Platform
LBinary Trading Platform

Traders use the ever popular SpotOption platform which is known for its reliability and ease of use. This platform is 100% web-based and requires no software to download. Their mobile application is designed for smart phones and tablets that use either Android or Apple’s iOS technology.

Mobile Trading Platform
Mobile Trading Platform

LBinary offers standard trading types including 60 second trading,  One Touch trading, Pairs and the Option Builder. In addition, LBinary now offers investors the ability to trade Ladder Options, which are the newest form of trading binary options and have become almost standard fare with most binary option brokers.

Ladder options offer 5 times the pay-out rates as a typical Binary Option, and can open 5 separate price positions at the same in multiple directions.

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User Reviews

Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.



11 User Reviews
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rbrian

A year ago,, a man named Mr. Harry called me from Lbinary and told me about investing in Binary options with him. I invested $560,000 and when it was about time for me to make my withdrawal i could only $58,000 and that was all from there on. They kept jamming the system till i lost all my money and i was getting bonus which confused me. This experience was such a painful one because i had only invested my pension funds in it and wanted to live the good life thereafter. I was very devastated and almost lost it because i got depressed. I decided not to give up and sorted after the service of a wealth recovery expert (adler.frank50@gmail.com) who recovered both my money and my bonuses from them. I'm glad i didn't give up afterwards.

H.abby

If you have been scammed please e-mail Mr.Edward Norton, he is a lawyer and is currently in the process of putting together a class action against Lbinary.
edward.norton@giambronelaw.com

the more complaints we have the faster the process to get back our money. 

kaseong

Recent experience with LBinary was bad. My account was at $50,003 starting in May 2014. No bonus. It reached $76,033.63 as of 31/8/2014. I submitted a request for withdrawal of $26,033/- on 1/9/2014. This amount was deducted from my account on 4/9/2014. I waited and waited and waited, I send them emails after emails, until today 29/9/2014, I am yet to received my wire-transfer. I repeatedly ask for where about of my fund and the proof of wire-transfer slip, there is no reply at all. This company is bad in service when it comes to withdrawal. They claim that they process withdrawal in 5-7 business days. They did (by deducting the amount from the account), but did not send the money or failed to prove to me that they did send the money. Any suggestion?

kaseong

Recent experience with LBinary was bad. My account was at $50,003 starting in May 2014. No bonus. It reached $76,033.63 as of 31/8/2014. I submitted a request for withdrawal of $26,033/- on 1/9/2014. This amount was deducted from my account on 4/9/2014. I waited and waited and waited, I send them emails after emails, until today 29/9/2014, I am yet to received my wire-transfer. I repeatedly ask for where about of my fund and the proof of wire-transfer slip, there is no reply at all. This company is bad in service when it comes to withdrawal. They claim that they process withdrawal in 5-7 business days. They did (by deducting the amount from the account), but did not send the money or failed to prove to me that they did send the money. Any suggestion?

PrinceWonder01

OMG!!! I have never come across such a blatant fraudulent bunch in my life. It all started when I had only deposited €250 into my account but noticed that within a week, they had taken a further €500 bringing the total to €750. When I called & asked why they did that, they said "they had spoken to me & I agreed to top up my account to get VIP treatment or whatever".. huh????

I had never spoken to these people & they saw it fit to take whatever they wanted from my account. I should have seen the signs & gotten away then but I stayed on & traded till I was able to bring my account to just over €2,000.

To cut the very long story short, I have asked for a withdrawal 3 weeks ago, almost 4 weeks now. I was told after the first week that my account Manager would call to verify which he did & I haven't heard anything since.
Similar to the other guys, I have called them & they keep hanging up on me, they refuse to answer my emails, after initiating Live chat, they have taken it off my page, I mean the list is endless....

PLEASE, PLEASE, PLEASE stay away from these guys. I wish I had reviewed them properly before depositing & now it's a nightmare. They are also not regulated by the regulatory body which is in itself the biggest warning possible to avoid them...

However they do not know who they are messing with. If I have to fly over to Cyprus & dig them out, that's what I will do & I will gladly spend my last dime doing that....

WATCH THIS SPACE!

MBE

I too feel like I have been a victim of L Binary

There are 4 issues which have affected me personally

1) The success rate of trading using LBinary Brokers and Analysts is very low.

When I was talked into opening a VIP account I was told that the number of quality winning signals would be around 80% and this was demonstrated to me. However the winning rate has been running at only 40% for over 4 months now. My broker has been trading for me on a managed account and he has only been able to achieve a rate of 40% winning trades.

2) Bonuses and Insured trades = An entrapment

L binary offers a new investor bonuses and insured trades but what they neglect to do is inform you of the trading limit you need to meet in order to be able to withdraw your money . The trading limits = (deposit + bonus + insured trades ) x25 which in my case equates to nearly $ 3 million dollars. That means before I can withdraw a single cent I have to spend $3 million on trading – and unachievable task especially when the winning trading rate is only 40%

The brokers did not advise me of this, in fact I have it in writing that they said I could withdraw money after a month. The T & C are not available on the website – when you click on it takes you through to a chat room. In the FAQ the question on bonuses is general and does not detail that formula. They do not get you to sign a T & C form

The brokers will tell you one thing but this is not honored when you ask to withdraw money.

3) Over Promise and Under Deliver

When talking you into opening an account especially a VIP account Lbinary brokers over promise and under deliver. Beware! I have been promised the earth by a broker and his boss but when it comes time to deliver they do not want to know you

4) Dispute Resolution

When things go wrong it is impossible to get hold of a manager to take action and I have found emails have not been responded to and my calls have not been returned. Even though they admit making a mistake there is no compensation other than investing more money, getting more bonuses and being entrapped even further.

My broker did not follow the trading rules of either passive or active trading and did not follow instructions to only trade to a certain figure. As a result the broker lost all my money. In stepped his boss and promised if I invested x amount more he would ensure the account was successful and that I could withdraw half my investment in one month and the other half in the second month. I have requested that that money be withdrawn but it has been denied due to the fact that I had not reached the trading limit – the first time I had heard about it

State of the problem : ongoing

trueman

Dear Reader/Investor/Exisitng live account holder,

I am a victim of fraud from http://www.lbinary.com. I strongly inform all future or current investors not to put any additional funds or invest any new amount
with this broker. Once your investment is in their hand you had burned your finger. You will never get back your investment. Once you invested they
will keep on calling you telling that good opportunity in market and put more money. Don’t ever fall prey to such requests. They will never return your money.

THERIR TARGET IS MOSTLY FROM MIDDLE EAST INVESTORS. RON RAMNY AND MARK IS THERE WHO WILL CHEAT YOU AND YOUR MONEY.
BEFORE YOU INVEST MONEY, PLEASE CALL ME OR MAIL ME. I SHALL GIVE YOU ALL DETAILS IN MY MAIL. THERE ARE A GROUP OF OTHER BIANRY TRADERS SITTING IN UK
WHO DON’T HAVE A REGISTRATION IN UK. THEY NORMALLY TOOK REGISTRATION IN CYPRUS/ BAHMAS/SECYHCELLE/ CAMYAN ISLAND AND OPEN A BRNACH OFFICE THERE.
GET CHEATED ALL WAYS AS TEHRE IS NO REGULATION IN UK.

I REQUEST ALL THOSE WHO CHEATED THORUGH THIS BROEKR TO JOIN WITH ME AND FROM A GROUP AND THEN WE CAN COMPLAIN TO MASTER AND VISA CARD AND
ON REPEATED REQUESTS FROM DIFFERENT CLIENTS THEY ARE NOT ABLE TO TRANSCAT IN THIS NAME.

MY CONTACT DETAILS ARE HERE BELOW:

EMAIL : MAIL_ADM85@YAHOO.COM , TEL : +97150-4451629

YOU CAN CONTACT ME AT ANYTIME. DROP ME AN EMAIL BEFORE CALLING .



THANKS TO ALL !

Rk1985

Worst people to trade with. Frauds

Larry Kostos

I have had good experiences with Lbinary. Their new website is high tech and pretty easy to navigate. The only thing missing is a long term demo account.

Shel3245

I'm not sure what you're talking about - if you read the terms and conditions you should know exactly what to expect. I've traded with lbinary before, and had a totally fine experience. I was able to withdraw when I wanted and everything was fine. Lbinary has great customer service and is great for new traders like me.

bmarshall6728

Be aware of all Terms and Conditions. Account manager will tell you something different and even put in writing ID; email and Lbinary does not honor written information from account manager.

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Review info: LBinary
Review Date:
Rating : 3.5
Reviewed By :