Innovate Markets was an unlicensed binary options broker that opened in September 2016. Address listed on their website is: 10 Brock St, 9th floor, Kings Cross, London NW1 2PY, United Kingdom. Innovate Markets phone number in Canada is: (418) 579-2525 and in the United Kingdom: +44 203 769 1726.
The email address for their compliance department is: [email protected]
For typical broker complaints you should read this.
Innovate Markets Review
The binary options trading system you see at the broker Innovate Markets, is a very simple platform which is mostly used by “robot brokers”. You can see other brokers like Rumelia Capital who also use this trading software. Their platform only give you the option to trade high/low binary options at multiple expiry times from 60 seconds until 1 years. Returns on EUR/USD options are only 70%.
On the account types page is shows that the minimum deposit for a new account is $300.
Scam Trading Robots
The video you saw about a special software is really a scam, read why.
Innovate Markets does not allow traders to use any automated trading systems. On their terms and conditions page (section 18.2) they write;
If you integrate an automated or semi-automated device on the InnovateMarkets browser or platform in lieu of your personal interaction or utilize a backdoor API; we will consider your activity system abuse and we will nullify your position or cancel your account with InnovateMarkets.
This means that even if you made money with a software like Vena System, your account will be closed.
Innovate Markets is Not Licensed
The most important thing an investor looks for when they review a binary options brokers, is to see if the broker is locally licensed and regulated. The easiest way to determine if a broker is a legitimate would be if they are licensed by CySEC. When you are trading with a licensed broker, you will not have problems when it comes time to withdraw your money. You can find an up to date list of the licensed brokers by looking here.
Innovate Markets does not have a license.
On October 26th 2015, FINRA published an investor alert regarding offshore binary options brokers. Read the alert on FINRA’s website here.
Compare Innovate Markets
With more than 300 binary options brokers to compare online, you should start by look at our List of Best Brokers.
Did you have a good experience trading at Innovate Markets? Please share your review in the comments below.