Binary Basis is a managed account service brought to us by Suen Cho Hung an investment analyst for Overseas Hong Kong Investment limited. Depending on the amount deposited the service promises in annual profit from anywhere between 840% to 1650%. Each plan comes with a number of insured trades, a length of contract and a management fee. This service comes across more like a high-yield investment program than a binary options service.
Today we will be analyzing what this developer has to offer the community and letting you know if you can expect reliability and regular withdrawals.
Binary Basis Review
According to the sales page the Binary Basis trading team operate with a win rate over 75%. Traders can follow along with the progress of their account manager by logging into their trading account. There is currently a free trial available, but it is not actually free. Traders have to fund an account with their recommended brokerage with $2000 and one of their experts will trade that account for 3 days.
For the managed accounts they are using a software module that allows them to compound interest and essentially just use a basic money management strategy. Their money management is set at 2-2.5% of the account balance per trade, which is pretty normal.
Managed Accounts Levels
There are 3 Binary Basis managed account levels. The first requires an investment between $15,000-$49,000, and returns an annual profit of 840% over a period of 10 months. The management fee for this account is 15% of the generated profit. Every single level includes 10 insured trades but only the 2nd and 3rd levels provide monthly withdrawals. The second level requires an investment between $50,000-99,999, and returns in annual profit of 1100% over a period of 9 months. This account comes with an 11% management fee. Finally, the last level is for traders looking to invest over $100,000. This level provides an annual profit of 1650% over an eight-month period with the management fee at 7% of generated profits.
Promises like these are seen frequently in the high yield investment program market. That’s not to say that this program is an HYIP but these annual profit numbers are certainly overly aggressive.
Basis Performance
The Binary Basis team provide a handful of different charts that are supposed to represent the performance statistics for their signals. They claim that in December they hit an 89% win rate and 90% in November. Sadly, there is quite a bit missing from the performance page. We are not shown a single trade. It is very easy to create graphics that represent full winning streaks, but there is a real lack of proof here.
If there signals truly have been winning nearly 90% of their trades in the past 2 months then why wouldn’t they provide us with their trading history. It would be nice to see the actual trades being taken as opposed to charts that don’t tell the whole story.
Conclusion
At this point in time, I don’t see how we can recommend Binary Basis to the Binary Today community. Considering the amount of failed managed accounts and unscrupulous account managers, we have to be very careful about how we proceed when we see promises of thousand percent gains without any real proof. Now, is the time for clients of this service to leave their impressions and thoughts to help clarify the legitimacy of this service. I look forward to hearing from you and hope that you spend more time here learning how to trade binary options.
DO NOT INVEST IN BINARY BASIS. I was almost SCAMMED BY HELEN ! The contract is FAKE !
I have a friend whom I seek advise :
The Company was dissolved a couple of years ago.
I was going to take a quick look for its trading licences number (tho it appeared not to have a licence or do its own trading) but I didnt get more than a minute into my search – dissolved!
https://www.hkgbusiness.com/en/company/Overseas-Hong-Kong-Investment-Limited
PLEASE NOTE ALL BINARY BROKERS WHOM promised Managed Account Managers are all FAKE. They are not brokers, they are only sales people the company paid them a commission when you deposit your money and they never have the intend to give you back your money and withdrawal impossible. The managed account manager job is to just take in money as much as possible.
If they found out they are not able to “extort” anymore money, they either showed you or trade your money made it all LOST online and then disappear.
I wrote to a broker 24Options, they are real but they emailed me to say, any brokers that provide you with Managed Account Managers are mostly SCAMMERs, the broker company merely provide you and teach you how to trade.
I was scammed very badly by TORoption. REALIZED that they show you all your so called trades online and where is the actual money $$$. Do not TRUST strangers, even if they SKYPE, watsapp you…etc
The reason I was cheated was because there are real fund management managers whom are traders and they trade with deduction of performance fees. They will be small boutique fund houses that do not really advertise online.
If you are keen, I can recommend this boutique fund house to you. They have a clear good track record over the past 3 years. Monthly returns about 8-10%, allowed quarterly withdrawal and you can withdraw from the fund anytime. Withdrawals are of superb support by the Operation Team handling only. And you realized, this company corporate bank is only Deusche Bank, receiving and sending funds through Deusche worldwide, all the SCAMMERS used some East European banks and held several bank accounts
I was thinking of working with this legit and genuine Fund Manager as Introducing Broker but there is a huge target and ability to bring in a good number of clients, these will be Private Bankers with high net worth individuals whom they Partner with.
Feel free to drop any comments.
Hi All, Binary Basis is a huge scam. It was my folly to invest $15000.00 in January 2017, after they had given me a sealed but fake contract (which I didn’t realize then). I watched and dreamed of big things as my so-called Forbes managed account grew every day in their trades. Two weeks ago, they were showing high volatility in the trades. So I asked them to set aside funds so the account is not accidentally depleted. They declined to do so, citing the contract and saying that I would get the minimum amount pledged in the contract, which was 550% of my deposit. But then in the following week, they completely depleted the entire account in just one day. When I asked why the depleted the account, they said “we are investigating what happened and will let you know when the investigation is completed.
In the meantime, I have had friends in Hong Kong physically visit the site of their office in the Henan Building mentioned in their website and they found no such business exist in that address. Their UK British company Big Bell’s address is also no longer visible in their website.
I am sorry I didn’t think critically trusting human beings when giving these human devils the money to manage my investment. Unfortunately, now it has become a painful memory. So, anyone, please be careful with your money. These are smart scammers.
Sorry to hear this Ruhul.
Please who is still working with binarybasis i want to run a managed acct and i need a trusted platform.can i go on with binarybasis?
GBP/JPY above 24-03-2017 09:20:47 24-03-2017 09:21:47 138.7794 138.7710 2000 0 You Lost!
EUR/AUD below 24-03-2017 09:20:43 24-03-2017 09:21:43 1.41627 1.41637 2000 0 You Lost!
AUD/USD above 24-03-2017 09:20:40 24-03-2017 09:21:40 0.76215 0.76212 2000 0 You Lost!
USD/CHF below 24-03-2017 09:19:57 24-03-2017 09:20:57 0.99190 0.99193 2000 0 You Lost!
USD/CAD below 24-03-2017 09:19:54 24-03-2017 09:20:54 1.33527 1.33562 2000 0 You Lost!
USD/JPY below 24-03-2017 09:19:51 24-03-2017 09:20:51 111.1560 111.1590 2000 0 You Lost!
EUR/JPY above 24-03-2017 09:19:47 24-03-2017 09:20:47 119.9870 119.9820 2000 0 You Lost!
AUD/CHF above 24-03-2017 09:19:43 24-03-2017 09:20:43 0.75627 0.75605 2000 0 You Lost!
USD/CAD below 24-03-2017 09:19:40 24-03-2017 09:20:40 1.33523 1.33556 2000 0 You Lost!
USD/JPY above 24-03-2017 09:18:57 24-03-2017 09:19:57 111.1745 111.1555 2000 0 You Lost!
GBP/JPY above 24-03-2017 09:18:54 24-03-2017 09:19:54 138.7865 138.7840 2000 0 You Lost!
EUR/JPY above 24-03-2017 09:18:51 24-03-2017 09:19:51 120.0070 119.9860 2000 0 You Lost!
GBP/JPY above 24-03-2017 09:18:47 24-03-2017 09:19:47 138.7865 138.7753 2000 0 You Lost!
USD/CAD above 24-03-2017 09:18:42 24-03-2017 09:19:42 1.33533 1.33527 2000 0 You Lost!
AUD/CAD above 24-03-2017 09:18:40 24-03-2017 09:19:40 1.01813 1.01803 2000 0 You Lost!
Mark…I want to know about your experiences. Can you please email me
Mark, you can leave your experiences here. We don’t share our reader emails for privacy reasons.
Hi John. Trust that you are well.Thanks for the info. Do you know whether Pfxs ltd is a trusted broker. Can you recommend any trusted Binary options and Forex managed accounts service providers.
Hi Nigel, I have not heard of this broker. I do not trust any managed account providers at this point in time.
Hi I had an account with them and it grew to $330000 but when I wanted to withdraw this is what happened 4 days later. This is a scam!
Currency
Order
Strike time
Expiry
Strike
Expiration rate
Amount
Return
Status
USD/CAD above 28-10-2016 14:26:54 28-10-2016 14:27:54 1.33731 1.33676 3000 0 You Lost!
GBP/USD above 28-10-2016 14:26:50 28-10-2016 14:27:50 1.21682 1.21676 3000 0 You Lost!
USD/JPY above 28-10-2016 14:26:16 28-10-2016 14:27:16 105.2015 105.1770 3000 0 You Lost!
GBP/JPY below 28-10-2016 14:26:09 28-10-2016 14:27:09 127.9780 127.9895 3000 0 You Lost!
EUR/AUD below 28-10-2016 14:26:06 28-10-2016 14:27:06 1.44115 1.44205 3000 0 You Lost!
AUD/USD below 28-10-2016 14:25:57 28-10-2016 14:26:57 0.75850 0.75872 3000 0 You Lost!
EUR/GBP below 28-10-2016 14:25:54 28-10-2016 14:26:54 0.89864 0.89906 3000 0 You Lost!
GBP/JPY below 28-10-2016 14:25:50 28-10-2016 14:26:50 127.9685 128.0015 3000 0 You Lost!
GBP/USD below 28-10-2016 14:25:16 28-10-2016 14:26:16 1.21613 1.21654 3000 0 You Lost!
USD/JPY above 28-10-2016 14:25:08 28-10-2016 14:26:08 105.2090 105.1965 3000 0 You Lost
AUD/CAD below 28-10-2016 14:25:06 28-10-2016 14:26:06 1.01419 1.01446 3000 0 You Lost!
AUD/USD below 28-10-2016 14:24:57 28-10-2016 14:25:57 0.75845 0.75849 3000 0 You Lost!
GBP/USD below 28-10-2016 14:24:53 28-10-2016 14:25:53 1.21618 1.21645 3000 0 You Lost!
EUR/GBP above 28-10-2016 14:24:50 28-10-2016 14:25:50 0.89878 0.89866 3000 0 You Lost!
EUR/JPY below 28-10-2016 14:24:12 28-10-2016 14:25:12 115.0025 115.0075 3000 0 You Lost!
USD/CHF below 28-10-2016 14:24:08 28-10-2016 14:25:08 0.99239 0.99256 3000 0 You Lost!
AUD/CAD above 28-10-2016 14:24:05 28-10-2016 14:25:05 1.01429 1.01420 3000 0 You Lost!
GBP/JPY above 28-10-2016 14:23:56 28-10-2016 14:24:56 127.9725 127.9490 3000 0 You Lost!
USD/CAD above 28-10-2016 14:23:53 28-10-2016 14:24:53 1.33744 1.33725 3000 0 You Lost!
GBP/USD above 28-10-2016 14:23:49 28-10-2016 14:24:49 1.21642 1.21631 3000 0 You Lost!
AUD/CAD below 28-10-2016 14:23:11 28-10-2016 14:24:11 1.01397 1.01430 3000 0 You Lost!
GBP/JPY above 28-10-2016 14:23:08 28-10-2016 14:24:08 127.9985 127.9695 3000 0 You Lost!
USD/CHF below 28-10-2016 14:23:05 28-10-2016 14:24:05 0.99240 0.99241 3000 0 You Lost!
GBP/JPY above 28-10-2016 14:22:56 28-10-2016 14:23:56 128.0020 127.9764 3000 0 You Lost!
USD/CAD below 28-10-2016 14:22:53 28-10-2016 14:23:53 1.33706 1.33744 3000 0 You Lost!
EUR/GBP below 28-10-2016 14:22:49 28-10-2016 14:23:49 0.89850 0.89863 3000 0 You Lost!
EUR/JPY below 28-10-2016 14:22:11 28-10-2016 14:23:11 115.0050 115.0155 3000 0 You Lost!
AUD/CHF above 28-10-2016 14:22:08 28-10-2016 14:23:08 0.75271 0.75260 3000 0 You Lost!
GBP/JPY below 28-10-2016 14:22:05 28-10-2016 14:23:05 127.9875 127.9950 3000 0 You Lost!
AUD/USD above 28-10-2016 14:21:55 28-10-2016 14:22:55 0.75844 0.75840 3000 0 You Lost!
Hi Nick
It would helpful for me also to hear the full story.
Many thanks
Duss
Hi John, Binarybasis.com are nothing but scammers. I had invested with them a huge amount and my account grew steadily each month as promised. I dealt with Helen Costa. One the account had matured to $339000 I requested a withdrawal as I had to send the request 10 days before the contract expires. While waiting for the 10 day period they continued to trade and in those 10 days lost everything even when I advised them not to trade anymore. I contacted them and they said that they would investigate the matter. They came back and said that they didn’t know what happened. I can tell u what happened, the 10 day period that u give them is the period that they use to purposely lose all of your money. They are paid a commission from Apple options. Binarybasis.com cannot be trusted and they are all a bunch of thieves.
Hi Nick, I’m really sorry to hear this story. That’s a lot of money that you invested, you deserved a much better outcome.
Good morning John, I have a broker for the moment whom manages my account. I’m considering changing not because I’m dissatisfied but I think there might be “better” brokers around that have a more consistent pattern of making money. Can you recommend some brokers ?… I’m residing in China…. my Skype is ericraes…. Thanks & Cheers.. Eric
Hi Eric, try our broker list here https://binarytoday.com/best-binary-options-brokers/
Don’t think these type of websites would even post their trades and even if they do they would only post winning trades to make them look good. Looks like their brokers Apple and Discover options are not regulated by the FCA and who are Big Bell Solutions anyway. Smells fishy to me
Marco, you are right! Mine is also growing and i am sure, if such happened, that was the only incident, if it`s true at all!
Hi Sophia, do u invest on MA also? This is me Agoes from skype. Last time u said u have not enough money to invest.
I stareted a managed account with binary basis in January for $3000. My account grew to $38000 until May 11, when binary basis invested all my capital in one day when they said that they would not. They said this has never happened before but when i went online and check the reviews it had clearly happened before. My main contact was Helen she assured me that this has never happened but i knew she was lieing. Now she has left the company and 2 months later i am yet to hear anything about the investigation. They dont answer my email and i have lost my investment. I want what was promised to me please. If dont believe the review that they a scammer i can send conversations with helen from the time we started chatting of skype. Please i was taking screen shot for the entire 5 months periods as my mind told me that something was wrong.
Really sorry to hear that Natasha.
is there anything i can do to make them pay and get my money back. no one answers my email.
Binary Basis are scammers, I’ve lost heaps of money with them, in the end they trade 100% of your investment and lose it in a day and then blame the markets. Their customer service is appalling and they don’t bother answering emails when they’ve lost your money. They use Apple Options and Discover Options who are scammers too as they advertise Binary Basis contracts as risk management which is totally untrue. Do yourself a favour and stay away!
Thanks for providing your feedback Lyn. It’s appreciated.
I would really like to have more details on the loss of money you mentioned.
what is the amount lost. I never seen them trade 100%. only 50% and it’s growing. One bad customer doesn’t mean the whole organization is bad?
Marco they are scammers, if you want the whole story I can forward to u
I would love to hear the full story