Binfair.com legit or scam?

[anorganik]

Hello Community  ,

may i ask if you know anything about this relatively new exchange and trading platform
binfair.com which offers copy trading with good deals/fees compared to the wunderbit or primexbt.

here are their details i found, but no info about them on youtube:

uk company info>
https://find-and-update.company-information.service.gov.uk/company/12743541/officers
helpdesk>
https://binfair.zendesk.com/hc/en-us/articles/360052909134-Fee-Structure
guide>
https://binfairguide.com/2020/09/06/how-to-withdraw-money/
ig / fb >
https://www.instagram.com/binfair_official
https://www.facebook.com/Binfair-110124210764797/
apps >
iOS > https://apps.apple.com/us/app/binfair/id1531080482
android > https://play.google.com/store/apps/details?id=com.binfair.binfair
a strange review >
https://crypto-trading-reviews.com/binfair-trading-platform-review/

their logo design>
https://www.designcrowd.com/logo-design/contest/3868899?page=5
site info> (6 months old)
https://who.is/whois/binfair.com

'm got there via a Advanced Crypto Academy (https://www.advancecryptoacademy.com/)
where the founder is Neno_nk and his trade's can copied on Binfar, that's why i'm interested in this system.
I had a little chat with them on facebook messenger, please check it:
1 : https://www.dropbox.com/s/0i8jsxzlc1eukhv/1%20Screen%20Shot%202020-11-16%20at%2021.14.55%20.png?dl=0
2 : https://www.dropbox.com/s/41l4q6uu3gl9x37/2%20Screen%20Shot%202020-11-16%20at%2021.15.03.png?dl=0
3 : https://www.dropbox.com/s/5gg3ckhrhqtk804/3%20Screen%20Shot%202020-11-16%20at%2021.15.13.png?dl=0
What do you think,  are they legit?
Worth to try like one of these traders with the trade copy function?
A : https://www.dropbox.com/s/x3htxexk82xhphf/4%20Screen%20Shot%202020-11-16%20at%2021.25.23.png?dl=0
B : https://www.dropbox.com/s/nep2iv1yubd970g/5%20Screen%20Shot%202020-11-16%20at%2021.25.48.png?dl=0
C : https://www.dropbox.com/s/becirvx5xs6vt78/Screen%20Shot%202020-11-16%20at%2023.26.59.png?dl=0
seems they have good rates....
please let me know your thoughts,
thank you,
anorganik

[YOSHIE]

I tried to find more information about the exchange binfair.com on this forum, however, it was not found in vain.

OP, I'm not sure you are new to this forum, my belief is that you already know the forum well, the proof is that you already understand about crypto exchange platforms.

So, I have a question for you, if you are talking about exchange sites.
1. In which country you live, we will show you a good and reliable exchange platform for you.
2. Why should you ask about the binfair.com exchange scam with your new account.
3. You display a lot of links, do you want to introduce binfair.com exchange to us.

Here it is clear you have understood everything, because you can compare it with other exchanges / the quality of its work.

may i ask if you know anything about this relatively new exchange and trading platform
binfair.com which offers copy trading with good deals/fees compared to the wunderbit or primexbt.

So, in my opinion, if you are hiding behind the scenes, don't compare the other exchanges, I'm sure you understand the binfair.com exchange better than we are here.

[Rikafip]

Whether Binfair is scam or not I don't know, but they are lying about few things:

On their website they claim that Binfair Holding Ltd is incorporated in 2016, but when you check Companies House, this is the data they submitted. As you can see, they were incorporated under that name few months ago, and on the address used by bunch of other companies, which is standard practice.




Then on Facebook they claim:

Binfair online trading platform and online trading app are a leading Forex, Cryptocurrency, and CFD online worldwide broker. Already live for more than a year, we have quickly built our strong international presence and we keep growing!

Simple domain  check via whois shows up that they are live for a couple of months

Domain Name: binfair.com
Registry Domain ID: 2541584108_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.godaddy.com
Registrar URL: http://www.godaddy.com
Updated Date: 2020-06-25T13:38:49Z
Creation Date: 2020-06-25T13:38:48Z

Now, since they claim to be Forex and CFD brokers registered in UK, unless I am mistaken they should be registered in FCA (Financial Conduct Authority) and if you check https://www.fca.org.uk/ you won't find this Binfair, and that means using their services is very risky because they are not licensed for that kind of business. Question is, if they are legit, why aren't they licensed? Answer to that is pretty obvious imho.

If I am you, i would stick to well known and reputable platforms and wouldn't push my luck in order to save few bucks.

[LeGaulois]

It doesn't matter in which country he lives, he has a question about a platform, he didn't want other users to find him an exchange located in the same country he is in or something like that.
Maybe he prefers to keep his previous account unknown to us, it's not a problem and Theymos said the same thing, more or less. In other words: who cares?


@OP
The site is just some months old but yet it's written Copyright 2016-2020. Opening a company in the UK costs about 25$. The domain name is valid for 1 year only. Which serious company would register a domain for less than 5 years.

It appears a site build by some amateurs from the Czech Republic in their basement who didn't know what to do during the lockdown.

[Bitcoin_Arena]

It's not legit at all, Avoid it OP.
On top of the discoveries members have found above. The whole content on the website seems to have been copied ftom a bunch of other websites the most notable one is;

Code:

https://lmt.trade

No legit platform would just go copy-paste from other existing exchanges and to make matter worse they even had the audacity to add "Copyright 2016-2020 Binfair Holdings Ltd. All rights reserved" on their website  

According to the domain information lmt.trade is older than Binfair

Code:

Domain: lmt.trade
Registrar: GoDaddy.com, LLC
Registered On: 2019-04-30
Expires On: 2021-04-30
Updated On: 2020-04-29

[Joel_Jantsen]

All the technical information posted in the above comments aside, why their "About US" page has no content and it's literally blank?

https://binfair.zendesk.com/hc/en-us/sections/360009682253-About-us

That is a big red flag for me. Companies want to be anonymous I get it but having the About Us section and not putting anything in there is shady. Also, their About-Us page has a different favicon. Moreover, their terms of service and other pages are also empty. I'd stay away from the site.

[stompix]

Now, since they claim to be Forex and CFD brokers registered in UK, unless I am mistaken they should be registered in FCA (Financial Conduct Authority) and if you check https://www.fca.org.uk/ you won't find this Binfair, and that means using their services is very risky because they are not licensed for that kind of business. Question is, if they are legit, why aren't they licensed? Answer to that is pretty obvious imho.

Hihi, that's what they claim but in reality, they have registered their company for gambling activities.

As  Bitcoin_Arena mentioned their whole website is simply a ripoff of lmt.trade, and in the terms and conditions they have even left the LTM name
https://archive.vn/pv7p6#selection-243.821-243.894,
And in the page code they even have this:

  /*!*隐藏滚动条，当IE下溢出，仍然可以滚动*!*/

Why would a company based in England run by a Czech person share the same css code with a Chinese website? And not offer Chinese as a language but only EN/RU.    Once you stumble upon something like this there is no reason to suspect hey would be licensed, there is no chance in hell. It's another one of these scams that have spent 100$ to create a fake company in the Uk with some fake identities, the price for those has really hit a new low now with all the documents available so cheap on the dark markets, there are even services that will do all of that for you.

What amazes me is that people still try new platforms that nobody has heard of for a few cents reduction in fees and risks thousands for pennies.

[anorganik]

So, in my opinion, if you are hiding behind the scenes, don't compare the other exchanges, I'm sure you understand the binfair.com exchange better than we are here.

No Yoshie, you definitely misunderstood me, i'm just want to make sure that i won't loose my money in case i start tradin with them, that's why i got this question . I asked the same question on the cryptowisser.com support and they forward me here to dig deeper in your community where you guys have much more experiences than i have. Thank you and thanks for everyone who put time and energy to the research, i won't use binfair even if some of the traders have really good performance there and their fees are cheaper than the competitors.. All the best for you!

[Rikafip]

Hihi, that's what they claim but in reality, they have registered their company for gambling activities.

When you think about it, gambling is actually appropriate as that's what you are doing with your money if you deposit it there

Why would a company based in England run by a Czech person share the same css code with a Chinese website?

When you put it like that, it does sound like a beginning of a joke, and that's what that site is. We all know why so many similar companies choose UK, as it's incredibly easy  and cheap to make one there, with little to none proper verification. And "UK based company" sounds more reassuring to their target audience  than "Chinese based" or "Russian based". Same reason why shitty altcoins like to use "Swiss based".

Thank you and thanks for everyone who put time and energy to the research, i won't use binfair even if some of the traders have really good performance there and their fees are cheaper than the competitors.. All the best for you!

Regarding covesting (or copy trading), I know some people that tried that on PrimeXBT and they ended up loosing  most of their investment so I would advise you to be very careful. Even if traders look like they know what they are doing and performing good for certain amount of time, chances are good that  things will go south sooner or later and you will loose if not all, but big chunk of your investment. Imho, you might as well go to online casino and gamble with your money, as that's what this is. In that case you will at least have some fun.

[Harlot]

Even if there company is listed on the company house website of UK you will see that their company profile lacks information and the only information of a employee there is from their CEO which also doesn't show enough information on his profile as well, there is also a chance that they just impersonated a legit company in the website and make it look like its theirs. So if I were you I would just avoid using their services for now as for proving their credibility.

[Binfair-Official]

Hello to all members of Bitcointalk.org and thank you for sharing this topic.

I am officially representing Binfair Online Trading Platform. You can address any issues or questions here.

To start off, we do not impersonate anyone, we did not copy any website.

The similarity between our platform and LMT.trade is given by the fact, that we are using the same technology provider like LMT.trade. Other than that, there is no connection between us.

Our team is working on releasing more communication channels with our traders, so any questions will be addressed quickly.

Thanks to everyone and have a great day!

----

Binfair Team

[Bitcoin_Arena]

Hello to all members of Bitcointalk.org and thank you for sharing this topic.

I am officially representing Binfair Online Trading Platform. You can address any issues or questions here.

To start off, we do not impersonate anyone, we did not copy any website.

You have got to be kidding... right?
How do you even get the guts to claim that you did not copy and paste from another website, yet the evidence is clear. Look at the screenshots I posted. Are you trying to say you Miraculously wrote the similar content onto your website minus copying anything from LMT.trade ?

[Binfair-Official]

Hello and thanks for your message.

White Label technology works in a way, that platform provider provides all-in-one-box solution, which you simply deploy. This also includes some basics texts, which we have not customised, true, but checked them pretty deeply.

We have no intention to copy any website without the permission of the respected party. Also, this technology contains pretty advanced pieces, such as CopyTrading technology and margin trading. This is not something you "copy".

Thank you for understanding,

Binfair team

[Bitcoin_Arena]

This also includes some basics texts, which we have not customised, true, but checked them pretty deeply.

So what should we call the act of removing LMT.trade's name from the texts and then replacing it with yours?
Should we assume that was not part of customizing the texts?

For example; LMT.trade says "LMT Serves Over 200,000 Global Traders"
You also say "Binfair Serves Over 200,000 Global Traders" This is utter dishonesty, Can you prove to us that you serve over 200,000 traders?

We have no intention to copy any website without the permission of the respected party.

You say "We are a member of Cobo LOOP Alliance, Industrial leading digital asset custody technology, Real Time risk management, Fair and no manipulation" and yet clearly you are not. It's because LMT.trade website said the same thing.

Why should we trust a person or service that puts across false information with any money?

[stompix]

Hello and thanks for your message.
White Label technology works in a way, that platform provider provides all-in-one-box solution, which you simply deploy.

Translation for those fancy words.
You either get a domain and you make it point to a server and in reality, although the users see binfair he is actually trading on xxxx
Or you get a script, you make it run on your webserver but all the trades are actually done by the same xxxx company.

Bottom line, running a white-label website can't be called running a business.

This also includes some basics texts, which we have not customised, true, but checked them pretty deeply.

You have checked them so deeply that you're missing every single one of them from the about us page to the ToS.

We have no intention to copy any website without the permission of the respected party. Also, this technology contains pretty advanced pieces, such as CopyTrading technology and margin trading. This is not something you "copy".

Just a few lines above you've said your "technology" is provided by a 3rd party so how about you stop bragging about it?

But let's drop those and answer the real question:
Are you registered with the FCA? Yes or no! Simple as this!

[Binfair-Official]

This also includes some basics texts, which we have not customised, true, but checked them pretty deeply.

So what should we call the act of removing LMT.trade's name from the texts and then replacing it with yours?
Should we assume that was not part of customizing the texts?

For example; LMT.trade says "LMT Serves Over 200,000 Global Traders"
You also say "Binfair Serves Over 200,000 Global Traders" This is utter dishonesty, Can you prove to us that you serve over 200,000 traders?

We have no intention to copy any website without the permission of the respected party.

You say "We are a member of Cobo LOOP Alliance, Industrial leading digital asset custody technology, Real Time risk management, Fair and no manipulation" and yet clearly you are not. It's because LMT.trade website said the same thing.

Why should we trust a person or service that puts across false information with any money?

Thank you for your message.

You are free to call anything in the way you wish. I have explained you how things are and what white label technology is. If you use, for example, a standard layout of eShop builder, you may also find it looking very much the same as many other eShops. For instance, from WIX or Shopify. Just a simple note. When you say "We", please speak for yourself. Unless you belong to any organisation.

If I follow your logic, I can create 1000 other Bitcointalk.org forums and only look for similar looking texts and present it as some sort of great revealing. Let me surprise you. Any landing page, any main page, any marketing materials may be confronted with something inaccurate, something, that creates over expectation, or something looking seemingly like something else.  If you have not spent last 20 years in a cave, this is the way the world works.

Trying to hype up a big kindergarten investigation out of it looks funny, ephemeral, and supremely sweet. It is better to deal with bad casuistry in a bad court, or at lectures about the greatness of Trotsky and world peace, excuse me. But not in this thread.

Yes, Binfair is a part of COBO Loop Custody, which is a leading Asian custody service. And yes, this link was provided by the technology provider, we did not interfere at all. So why should we remove it from the site, when it's true? I guess their other platforms have it as well.

To conclude - if you are here to look for inaccuracies in the text, I can address you straight to the Bible. You will find a lot, believe me. Yet it's still very popular. It's important to look at the core thing.

Binfair is proud to have thousands of livetraders, including Master traders, that are very successful in what they do, and you can easily track them live via CopyTrading application. Even now. On top of that, we have margin trading and leverage trading availability, as well as tons of cryptocurrency assets available to trade.

Yet, we are of course grateful, for the feedback, and we recognise, that many things should improve. That's our goal as well, to a) improve communication channels 2) improve marketing and solidness of our platform. We are technical people by nature, so this takes some time for us, but we are getting there.

[Binfair-Official]

Hello and thanks for your message.
White Label technology works in a way, that platform provider provides all-in-one-box solution, which you simply deploy.

Translation for those fancy words.
You either get a domain and you make it point to a server and in reality, although the users see binfair he is actually trading on xxxx
Or you get a script, you make it run on your webserver but all the trades are actually done by the same xxxx company.

Bottom line, running a white-label website can't be called running a business.

This also includes some basics texts, which we have not customised, true, but checked them pretty deeply.

You have checked them so deeply that you're missing every single one of them from the about us page to the ToS.

We have no intention to copy any website without the permission of the respected party. Also, this technology contains pretty advanced pieces, such as CopyTrading technology and margin trading. This is not something you "copy".

Just a few lines above you've said your "technology" is provided by a 3rd party so how about you stop bragging about it?

But let's drop those and answer the real question:
Are you registered with the FCA? Yes or no! Simple as this!

Hello and thank you for your message.

1 - Excuse me, what is xxxx company and can you provide more info what are you talking about?

Running a white label can of course be called running a business. Example : You would like to start an online Casino. Instead of building your own from a scratch, you may simple take a ready solution, for example from SoftSwiss, BetConstruct, Digitain, EveryMatrix or any other provider available out there. You run it at your own cost, and pay % to the provider, based on an Agreement.

Why that cannot be called running a business?

2 - About us : https://binfair.zendesk.com/hc/en-us/articles/360053986593-About-us

TOS : https://binfair.zendesk.com/hc/en-us/articles/360053687653-Terms-of-Service

What is missing, please?

When you enter "About us" section click another "About us" link. It's straight in the middle.

3 - FCA currently does not regulate any CFDs trading business related to cryptocurrencies. Unfortunately. And why FCA? We are negotiating with CySec to get a license in the nearest future, as it's much more flexible and gives a worldwide distribution.

Thank you and have a great day

[stompix]

What is missing, please?
When you enter "About us" section click another "About us" link. It's straight in the middle.

Such an amateurish job, you don't even know how to properly link your pages, you're linking to the folder index rather than the pages
https://binfair.zendesk.com/hc/en-us/sections/360009575114-Terms-of-Service
https://binfair.zendesk.com/hc/en-us/sections/360009672253-Privacy-Policy

Also, you forgot here to remove the letmetrade link:
https://binfair.zendesk.com/hc/en-us/articles/360052909134-Fee-Structure
https://archive.vn/aAsZi

What is the Service Fee of Option?
The commission fee is fixed at 50LMTP/0.5USDT

3 - FCA currently does not regulate any CFDs trading business related to cryptocurrencies.

Earth to alien:
https://www.financemagnates.com/cryptocurrency/regulation/uks-fca-bans-retail-offering-of-crypto-derivates/

Unfortunately. And why FCA? We are negotiating with CySec to get a license in the nearest future,

So, you have no real license to conduct business in the UK at this moment, right?
Yes or no, simple as this!

[Binfair-Official]

What is missing, please?
When you enter "About us" section click another "About us" link. It's straight in the middle.

Such an amateurish job, you don't even know how to properly link your pages, you're linking to the folder index rather than the pages
https://binfair.zendesk.com/hc/en-us/sections/360009575114-Terms-of-Service
https://binfair.zendesk.com/hc/en-us/sections/360009672253-Privacy-Policy

Also, you forgot here to remove the letmetrade link:
https://binfair.zendesk.com/hc/en-us/articles/360052909134-Fee-Structure
https://archive.vn/aAsZi

What is the Service Fee of Option?
The commission fee is fixed at 50LMTP/0.5USDT

3 - FCA currently does not regulate any CFDs trading business related to cryptocurrencies.

Earth to alien:
https://www.financemagnates.com/cryptocurrency/regulation/uks-fca-bans-retail-offering-of-crypto-derivates/

Unfortunately. And why FCA? We are negotiating with CySec to get a license in the nearest future,

So, you have no real license to conduct business in the UK at this moment, right?
Yes or no, simple as this!

What is the difference where is it linked? It's available, and that's the main thing. No?

You did not see the link for the first time and came with "revealing". But it was and is available. So?

You are giving me a link, that FCA does not approve any CFD crypto business. Which supports my message, that says, that there is no regulating authority, that can regulate this business. So why did you ask about FCA, if you knew it does not accept any such companies?

Again - there is no regulating body, that can accept and license CFD cryptocurrency business. Do you have any in mind? Please tell us, we will be grateful

[Mohcrypto101CA]

Hello to all members of Bitcointalk.org and thank you for sharing this topic.

I am officially representing Binfair Online Trading Platform. You can address any issues or questions here.

To start off, we do not impersonate anyone, we did not copy any website.

The similarity between our platform and LMT.trade is given by the fact, that we are using the same technology provider like LMT.trade. Other than that, there is no connection between us.

Our team is working on releasing more communication channels with our traders, so any questions will be addressed quickly.

Thanks to everyone and have a great day!

----

Binfair Team

Hello Binfair Team,

Since you are on here replying, I have been messaging support for 3 days now.. no response. Answer your support emails? I mean that should be of utmost importance right? My money which you call "assets" are frozen and I cannot seem to get any response from your customer service team, do they even exist?

I am not the only one experiencing this, there are other users complaining about this lack of professionalism, you don't look after your customers. People are waiting to get their money back.. you need to take immediate actions and resolve this.

For the love of God check your support team email or check in with your team in general. Please get back to me with a solution.

Thank you.