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Sources indicate that on 13/08/2014 the company lbinary.com received a warning fromCypriot CySEC. The address on record for lbinary.com is unknown.
Lbinary.com is a binary options broker founded in Cyprus and their website got registered in 2013. In Feb 2015, regulatory authorities (Cysec) verdicts of guilty against this broker. As per the sources, Cysec warned all the investors to be careful before investing your money with lbinary. Also, advised that lbinary is not a transparent broker and is not regulated by the CySEC. Lbinary has been considered as one of the targets in several pending lawsuits and is reported to have solicited substantial deposits from a number of traders.
In August 2015, clients all over the Internet complained about the poor service offered by them and reported that the broker manipulates its platform and is not a reliable broker.
They offer five different account tiers Micro, Silver, Gold, Expert, and Platinum with different schemes, however, they are extremely inadequate in terms of feature and do not allow the traders to withdraw their own money. It was reported that if one lost a single trade, then it is difficult to take out the remaining balance. The deposit amounts correlate to each type of account are no longer on display on the website.
It was claimed on their web page that they have received several awards but the truth is slightly different as the awards which are listed at the website are fake and the company have nothing to do with binary options trading or trading in common. On 1st July 2016, lbinary shut down the operation and now they are no longer in business.
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