Paying for Now
Today, we are going to review the Evo Binary. We want to see if it has any external revenue source because the broker doesn’t offer any real forex products, or services with any proven business model.
About Evo Binary
Evo Binary is a Binary Options Broker. Evo Binary International DWC owns this broker. The registered address Business Center Logistics City, Dubai, Aviation City. It offers a wide range of assets including a different wide range of option types, and expiry times. The minimum deposit is $250.
This company specializes in Forex MLM. It focuses on technology and financial market with automated bots.
What Does It Offer?
The company has no retail products or services. Instead, it offers affiliate programs. It gives several compensation and commission plans. The company provides HYIP Programs with unbelievable Return on Investment (ROI) to attract customers around the world.
We have found the following issues with Evo Binary during our research. We will share these issues with you.
No financial authority license or regulates Evo Binary. Yes, it is an unregulated broker that only loots you. It affected the credibility of this broker as you need to meet strict requirements to qualify. You also need to invest some money in obtaining a license.
Most regulated brokers conduct business with ethical practices. This shows how the broker is interested in making you successful instead of making money off you.
The Evo Binary is guilty of manipulating the marketplace in its favor. Yes, it manipulates low spreads and shows them as high spreads. Yes, it changes the spreads. It shows low spreads as higher spreads. The broker manipulates the market and shows 1.3 pips as 3-4 pips or even ten pips. This costs the user in the end.
No Community Feedback
There is no mentioned of Evo Binary in Forex forums. Yes, the top forums have no discussion or threads discussing this broker. This unsettles us; almost every broker creates a fuzz in the community. It doesn’t matter whether the broker is reliable or fake, there is some buzz generated in the forums.
We are surprised to see Evo Binary failed to create such an impact.
Evo Binary Offers HYIP, High Yield Investment Programs. The matric and binary recruitment system is nothing but a pyramid scheme. They lure in users offering high returns. Yes, the company is paying at the moment, but it won’t be for long.
If it continues the same course, it will become unstable and won’t be able to pay its users. Yes, soon it won’t have any new users depositing anything that they can use to payback old users. There is no business model here. This exactly how a Ponzi scheme works.
With everything we said, it’s a no-brainer that Evo Binary is a scam. It an HYIP and these schemes never payout. No financial authority regulates this broker, and we are surprised it has no community so far. There is something wrong here.