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BinaryTilt Review
Traders Rating1 Vote0.45
Website: https://binarytilt.com
Address: 2nd Floor 1-2 Broadgate Broadgate Circle London EC2M 2QS UK
Phone: +442038071553 - +441613940459
Email: info@binarytilt.com - compliance@binarytilt.com
Company: Chemmi Holdings Limited
Company Address: Suite 50, 2 Old Brompton Road, London, United Kingdom SW7 3DQ
Regulation: Not Regulated
0.1
BinaryTilt Rating
BinaryTilt Warning
BinaryTilt is blacklisted by FCA and FMA
Have You Been Scammed by BinaryTilt?

 

 

Warning

 

The  Australian Securities & Investments Commission (ASIC), the British Columbia Securities Commission (BCSC) in Canada, New Zealand’s Financial Markets Authority (FMA), and South Africa’s Financial Services Board (FSB) all have issued warnings against Binary Tilt for “selling” services it cannot actually provide as described on its website.

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The site was unexpectedly shut down in March 2018.

 

Background

 

Established in 2013 in New Zealand by a team experienced in derivatives, forex, risk management, compliance, payment processing and international law and legislation Binary Tilt later relocated to London.

It was owned and operated by Chemmi Holdings Limited (company number 9870892), located at Suite 50, 2 Old Brompton Road, London SW7 3DQ, England. Chemmi Holdings Limited itself is a subsidiary of Depix Holdings Limited (company number 22972 IBC 2015), located in Kingstown, St. Vincent and the Grenadines a tax haven with a limited financial regulatory structure. 

Chemmi Holdings also ran two additional websites, BinaryOptionFlow (now closed) and MaxCFD.

News reports have identified Tamica Sharon Payne as a “person with significant control” of Chemmi Holdings, meaning that she was able to hire or fire staff.  and, a couple residing in Perth, Australia, as having previously signed legal documents on behalf of the abovementioned companies.  

She remained in control of the company, at least on paper, until October 2017. The site itself was established by Louis Guy Detata, a former Morgan Stanley financial adviser. Payne and Detata share an address in Perth, Australia. Both have since denied having been involved with the company during the period in which complaints were filed with regulators and the warnings to consumers were published.  

 

Platform

 

Binary Tilt last used the new and improved SpotOption software, which has all the bells and whistles that traders expect, plus a few new innovations that can come in handy.

RollOver, Double-Up, and Sell-Early features are standard, but the “Strategy Advisor” is an AI robot that can make predictions to guide your trading. The process is automated. Choose an indicator (RSI, Moving Average or Bollinger Bands), and allow the robot to use the latest pricing information to predict what happens next. If you agree, then one click will place your order. The entire trading system is web-based, so that you can access the platform anywhere.

The website was only available in English. Islamic accounts were available.

 

Trading Conditions

 

Six account categories with escalating bonuses and benefits were available:

  • Basic, for deposits between $250 and $1,000
  • Classic, for deposits between $1,000 and $5,000
  • Premium, for deposits between $5,000 and $10,000
  • Gold, for deposits between $10,000 and $20,000
  • Platinum, for deposits between $20,000 and $50,000
  • Privilege, for deposits of $50,000 and up

 

Payoff ratios reportedly ranged from 70% to 85%, but a 10% rebate was said to improve your odds even more. Pair and ladder options permitted endless combinations, and it was claimed that one-touch items would boost the payout to as much as 500% (1,500% for ladder varieties).

Payments were made with Visa, Visa Electron, MasterCard, and Discover charge cards as well as by bank wire. AstroPay, CashU, Delta, GiroPay, Neoserf, Neteller, Skrill, Union Pay, PaySafeCard, Qiwi Wallet, WebMoney, YandexMoney, and 18+ are also accepted.

Sensitive personal information and trading data were protected by the latest 256-bit SSL encryption technology from potential external hacking. All client funds were held in segregated accounts in Tier 1 banks.

A demo account was available.

 

Education

 

The company’s education section was quite comprehensive. Traders were able to find in-depth coverage of a wide variety of topics, including binary option basics, market analyses, options strategies, social trading, a platform overview, signals, plus a number of e-books. There were 26 lessons in all and a daily market analysis was posted to prepare traders for the day’s action.

 

Support

 

Binary Tilt’s support team was available 24/7 via live chat, email, Skype, telephone, or by submitting a form online. A personal account broker was assigned to holders of the Classic account on up.

 

Licensing

 

Binary Tilt claimed that it was formerly regulated in New Zealand. After it moved to London, it claimed to be awaiting the anticipated regulatory shift that will move binary options supervision from the UK Gambling Commission to the Financial Conduct Authority (FCA) in order to apply for a British license. In the meanwhile, Binary Tilt said it voluntarily complied with requirements established by the Cypriot regulator, CySEC.

 

 

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