LBinary Review, Is It Scam Broker Must Read!

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LBinary Review

LBinary recently changed their name to Ivory Option, so all links from this review goes to Ivory Option site, but every other feature here except the name still apply.

LBinary is relatively new broker, founded 2020 in Cyprus and have got reasonable amount of customers during these few years. They use SpotOptions software which is one of the best on the market and easy to learn even for beginners. Their site looks good and customer services are provided with multiple languages. Nevertheless they appear to be good and trustworthy site, but there are few vague and suspicious features in their policies. We will reveal those in this review.

LBinary Review

LBinary in a Nutshell

  • Platform: SpotOption
  • Founded: 2020
  • Bonus: Up to 100%, max $5000
  • Return on average 70-85% / 0-10% refund
  • Maximum profit: 85%, One Touch 720%
  • Minimun Deposit $250
  • US Traders: Accepted
  • Demo Account: No
  • Regulated: No
  • Mobile Trading: Yes
  • Cysec License: Coming
  • Options: Standard, Range, Touch, 60 seconds
  • Expiry times: 60 sec, 5 min, 15 min, hour, daily, weekly, more

Lbinary accounts

How Binary Option Robot Can Change Your Life? Check This Out!

LBinary is relatively new broker, founded 2020 in Cyprus. Is it a scam or trustworthy site? We reveal everything, read now and find out the truth!

How to Make Money with Binary Option Robot

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Claim your free binary option robot, get started with three easy steps:

  • Name of Robot
  • Min. Investment
  • Min. Deposit
  • Rating
  • 1. Your Binary Option Robot will analyse the market and decide, which asset (currencies, indices, commodities and stocks), is right to trade at that point in time.

    2. The Binary Option Robot Will Predict the Price Movement

    Your robot will assess a wide-range of factors, and then make a prediction on how the assets price will move, saying: Call (up) if it believes the price will rise and Put (down), if it believes the price will fall.

    3. Decide on how much you want to Invest

    Then you need to decide how much you want to invest in the commodity and when that investment will expire.

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    4. Collect your Earnings

    Finally, you collect your earnings (the good part!)

    LBinary Ratings

    [yasr_multiset setid=0]

    Bonuses and Types of Accounts

    LBinary offers 5 different Account types: Micro, Silver, Gold, Expert and Platinum. Those are dependent on the initial deposit amount that trader makes. All the following account includes features from the previous one and some extra to it.

    Micro account: This account requires the minimum deposit of $250 provides email support and an account manager for the trader.

    Silver Account: To be able to get the silver account trader must deposit $1,000 to access. Silver account includes a learning session with account manager for total of 60 minutes to familiarize the trader with binary options and the platform.

    Gold Account: Minimum deposit of $5,000 makes you real trader and lifts up the trader to the elite Gold account. This upgrade gives additional two more benefits; quicker money transfers and insight to trading strategies learning material.

    Expert Account: To achieve expert account trader has to make a full $ $20,000 deposit to right of entry to his Expert level. This account level includes all the previous features and adds the useful one-on one trading feature. This one-on –one session will give plenty of useful information even for experienced traders. When a professional trader advices trader how to make maximum profits and how to avoid biggest mistakes, it will save a lot of money for too risky investments. This way the trader will more likely to reach his/hers goals of trading and make profitable investments with binary options.

    Platinum Account: The ultimate account of LBinary is Platinum account and it requires massive deposit of $50,000 to reach this level. It adds professional VIP Signal Service for the trader’s toolkit. The Signal services are highly useful tips from professional brokers to the trader about market changes and events that will occur. This helps to determine whether the market or single asset will go up or down.

    With The Real Robot traders can get the maximum potential out of their trades and time. Sign up and test it for free.

    Demo Account

    Unfortunately LBinary does not have demo account at this moment to invest with but they probably will add it very soon.

    Maximum Profits

    LBinary’s maximum payout is somewhat high 85% and many forms of trades gives something between 75 to 80% which is quite average in the industry. What really stand out is their one touch options that will reach unbelievable 720% payout. This is way more than most of the competitors can offer. This is their special and therefore very fair deal to traders.

    Lbinary maximum profits with One Touch Options

    Most important features

    Trading Platform

    LBinary’s trading platform is made by SpotOption which is in the market leader position. It is reliable and easy to learn and use. SpotOptions’s trading platform is well known and used in many broker sites. The software is used by tens of thousands of traders in multiple broker sites and it has good reputation. There’s rarely seen a negative feedback of SpotOptions platform and in that perspective LBinary satisfies most traders.

    How to Trade

    The platform of SpotOption is easy to use and guides how to trade are easily found from the site and all over the internet. LBinary offers the usual set of options, pairs, long term, sixty second, One Touch, Ladder and some additional such as FX/CFD and SpotFollow sections where you can follow how other trades are managing and copy their investments.

    Appearance of the site and platform is simple and beginners will learn to trade immediately. More time takes to determine the right trades and directions of asset values. For more experienced traders the platform will be straight forward to take actions.

    Options expiration times will vary depending on what option is taken to trade. Most common short term investments are 30, 60, 120, 180, and 300 seconds options. There are also expirations of 15, minutes, 30 minutes, one hour, rest of the day and many more. In the long term options section, there are available one week, 2 week, 3 week, one month, two months, three months, 6 months and the rest of the year.

    Depending on the option type the trades can be made at minimum of $5 to $25 per single trade.

    Lbinary top traders SpotFollow

    What to Trade

    LBinary offers wide range of assets for trading. They have the usual asset such as currencies, stocks, indices and commodities. These are the regular which can be found on almost every binary option broker site and there’s enough assets to choose from. Their special thing is to have bitcoin/currency pairs among other currencies which are additional little mix in the regular pallet of currencies.

    LBinary also has the forex trading and CFD products in their categories. With Forex trading it is possible to trade currencies as a real investor. CFD products make leveraging possible for trader. The amount of leverage applied can be set between 1:10 or 1:500 for initial investment. This makes investments more risky, but as they succeed also the profits will be better.

    Totally of approximately 100 assets are available to trading and with the different option methods such as high/low, One touch, Ladder, Forex and CFD’s there is plenty to choose from. Even the most demanding traders should find this site satisfying. The Spot Follow trader follower can be applied to all the methods and shows results in all categories.

    To all these options the robot can be set to do trading and reduce the work load of the trader. Read more about the Binary Option Robot from the main page or test it in the action right away by free sign up. Now you can get it free by clicking the button below.

    Banking

    Deposit to LBinary can be made via credit card or bank wire transfer. They support several credit card options for that.

    Withdrawal works best if the account is properly verified and that is what we encourage all traders to do. Minimum withdrawal via credit card is $100 and it’s free of charge and for bank transfer the minimum is $500 which is relatively high. Withdrawal fee for bank transfers will be $25 at the moment.

    If the bonus is accepted the bonus money and the deposit must be invested in trades 25 times to be able to withdraw it. Therefore might be good to think whether trader should accept it at the first place.

    Withdrawal itself may take 5-7 days to be completed.

    Lbinary banking methods

    Mobile trading

    LBinary offers the same mobile version as other brokers that use SpotOptions platform. Mobile trading platform is extremely easy to use and simple even with smaller screen.

    Trades can be followed and operated on mobile from anywhere in real time. Mobile version is easy to access by signing up and downloading the app from Google Play or App Store.

    Educational materials

    LBinary offers something to chew for beginners in their introduction to binary option review. They have how to trade section and comprehensive glossary for traders who wish to learn those before they start investing.

    Other services

    Market reviews are given daily on short video tutorial and news section that gathers all the important events in one economic calender. This is very useful for traders who want to succeed extraordinary well.

    Lbinary daily market review by video and text format

    Customer service

    Lbinary customer service helps traders via live chat, phone or email with several languages.

    Customer service phone numbers

    Facts and Company

    LBinary is founded in Cyprus at 2020 and is going to have the Cysec lisence in the future. The regulation process has started and is expected to conclude very soon. As they get the licence, their operations will be more transparent to traders and all visitors of their site.

    Conclusion about LBinary

    Thus LBinary seems to be an trustworthy and liable actor on the market it has had some rumors of strange policies in their policy terms. Therefore we strongly suggest reading those policy terms at effective at any given time that sign up and deposits are made.

    Overall raring based on above review will give LBinary to be somewhat average on the trading possibilities and does not stand from the ground that strongly. The fact that it has not been regulated by Cysec at the moment will lead to lower rating and the somehow suspicious reputation regarding their withdrawal policies lead also to a little bit lower score. But I have to emphasize that we found no evidence of any wrongdoing. So as far as we know LBinary is very trustworthy and good place to invest. And let’s keep in mind that they wish to get CySec lisence very soon, so it is clear that they have act very ethically and honestly to get that.

    Overall review we will give LBinarys 4,0 stars out of 5 as binary options broker site. [yasr_overall_rating]

    Open an account by clicking the button beow to get familiar with LBinary

    LBinary.com Review

    Feb 2020: There are three FPA Traders Court Guilty votes against LBinary. The FPA recommends AGAINST dealing with this company.

    The FPA now considers LBinary to be a scam.

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    Consumer Reviews

    I had received e-mails advertising LBinary as the best in binary trading. For a deposit of $250.00 you would be taking as much as $1000.00 a week out of your account. On 09/18/14 I signed up and waited for the phone call. 30 minuets later MYLES PETERSON called and started talking very fast and ended up taking $1000.00 that I knew about and then behind my back took another $1000.00. I tried to cancel my account only to hear that I had to give information that would open me up to ID theft. I never took another call from MYLES PETERSON.

    On 21/16/14, a busy day for me, I was waiting for a call from a supplier for my hobby and answered the wrong call. JOHNNY GOLDSMITH convenienced me to try with him. From this point I will only use names, amounts, and dates.

    DATE AMOUNT APPROVED BY

    12/16/14, $2000.00, JOHNNY GOLDSMITH
    12/17/14 $1000.00 STANLEY CARBONE BONUS
    12/22/14 $3000.00 JOHNNY GOLDSMITH
    12/22/14 $3000.00 SAMUEL CASIS BONUS
    12/23/14 $1000.00 STANLEY CARBON
    12/30/14 $1000.00 JOHNNY GOLDSMITH
    12/31/14 $1000.00 JOHNNY GOLDSMITH
    12/31/14 $3000.00 JOHNNY GOLDSMITH
    12/31/14 $4000.00 NO USER
    01/05/15 $2500.00 SAMUEL CASIS BONUS
    01/08/15 $12250.00 JENNY PIERCE BONUS
    01/15/15 $2700.00 JOHNNY GOLDSMITH
    01/15/15 $2500.00 JOHNNY GOLDSMITH
    01/15/15 $2500.00 JOHNNY GOLDSMITH
    01/15/15 $2500.00 JOHNNY GOLDSMITH
    01/15/15 $11200.00 SAMUEL CASIS BONUS
    02/02/15 $6000.00 RANDALL SKEFFINGTON
    02/09/15 $10000.00 RANDALL SKEFFINGTON
    03/09/15 $2500.00 NO USER BONUS

    BONUS, you have to turn each bonus 30 times before you can take any money out of your account.
    FREE TRADES, you have to turn each free trade 40 times before you can take any of your money out of your account.

    The Credit Card Company’s fraud department, I pay for fraud portection, took my information, asked for paper work to support my claim, and only gave me 10 days to comply. LBinary was giver 45 days to reply to my claim. I suffered through months of this only to be told that i had lost my claim. I had to pay the whole amount.

    Well, that’s my story. I can some how prove my claim with my paperwork. If not I’ll have to look at possible bankruptcy.

    LBinary Scam: How get your money back from LBinary

    I did it, and want to share with others how it’s done. LBinary has been actively engaged in an ongoing scam to delay or not pay out winnings (or even return initial deposits) to those unfortunate enough to get tangled in their web of fraud. Although this organization’s mantra should read “You’re here to loose, one way or another,” you can recover your money and beat them at their own game.

    The First Rule: You must be persistent and not give up. Don’t bother with phone conversations. Email, chat and repeat. Take screen shots of your trades, account balances and withdrawal attempts. Even copy and paste chats into docs. Document everything, and keep your communication simple and to the point. Forget sending rambling messages about how they ruined your life or about how you’re going to fly to Cyprus or Gibraltar and blow up their offices. First off they don’t care, and at worst you can be accused of making terroristic threats – and that won’t help your case. Besides, they aren’t physically located at either one of those places.

    Emails should be directed to customer service only. Make legitimate demands with deadlines and stick to them. If you get soft or lazy and don’t follow through on a threat or deadline promised they will take advantage. Report them to the IC3 (google it), they mean business. If you have winnings, don’t settle for just the return of your initial deposit. Demand all of it. One of their tactics is to wait about a month, and just send the deposit back. Well, I for one don’t play that way.

    After all your initial attempts have been stalled or ignored (IE: “we’re having technical difficulties”; “resubmit the withdrawal”; “we’re waiting on approval from your acct. manager”; etc. etc.) you must get ready to pull the trigger on a lawsuit. At this point somewhere between 4 to 6 weeks will have passed. Forex Peace Army provides contact information on an international law firm actively gathering victims for a class action lawsuit. Email the attorney with all the evidence you’ve gathered. Email LBinary notifying your intent to file suit if your funds are not received by your stated date. Don’t go into details on who the attorney is, it’s not necessary. When that deadline passes announce that it’s now time to “pull the trigger” and there will be no more communication between you and LBinary. That’ll motivate some slime-ball over there to call you, hurl some insults your way and finally release your money.

    If this doesn’t happen, go ahead and sign the legal paperwork and sue their asses off. LBinary is afraid of 2 things: having a government agency like the US CFTC after them, or a large well organized class action lawsuit by a law firm that can cross borders. I would bet that their days are numbered.

    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 2020 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%.

    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.

    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.

    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

    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

    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.

    Best Binary Options Brokers 2020:
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