80 percent of Binance reviews on Trustpilot have 1 star, while another 6 percent have only 2 stars.
Most of the top crypto exchanges are rated either “Poor” or “Bad” on Trustpilot.
A screenshot of Binance's official page on Trustpilot
Trustpilot, a platform where real users provide reviews, has disabled the “TrustScore” of crypto exchange Binance, alleging the detection of “a number of fake reviews for this company.” The review platform has already removed the fake reviews.
Fake Reviews of Binance on Trustpilot
“If additional suspicious reviews are discovered on this profile, we'll remove those too. If you believe a review is fake, you can flag it,” a banner on the verified page of Binance on Trustpilot stated.
“We take the integrity of our platform very seriously and wanted to let you know this company hasn’t been playing by the rules,” warned Trustpilot. “When we uncover misuse, we take action and alert our community.”
When it comes to reviews of any digital platform, especially those in financial services, Trustpilot is considered reliable. Although satisfied users write positive reviews of providers there, it has also attracted stressed traders and investors who post their grievances. Any negative reviews on Trustpilot can heavily impact the reputation of platforms, as many prominently advertise their Trustpilot score to enhance their brand value.
Richard Teng, CEO of Binance
However, many have figured out how to post fake reviews on Trustpilot. Many freelancers on some online platforms even advertise their services to post fake Trustpilot reviews. Recently, the US Federal Trade Commission even officially banned fake reviews of platforms.
“We Have Zero Tolerance for Fake Reviews”
Trustpilot's action against Binance was due to a breach of its guidelines, which state: “Don't write or ask people to write fake reviews. We have zero tolerance for fake reviews and will remove them.”
Although Trustpilot is not showing Binance's “TrustScore,” users can still post reviews of the crypto exchange. Interestingly, out of 4,526 reviews on Binance, 80 percent have 1 star, and 6 percent have 2 stars. Trustpilot counts “1 and 2-star reviews as negative.”
The review website also highlighted that Binance replied to 91 percent of the negative reviews.
Interestingly, the TrustScores of most prominent crypto exchanges vary between “Bad” and “Poor.” Coinbase, one of the most reputed exchanges, has a TrustScore of 2.4, which is “Poor,” similar to OKX, which has a TrustScore of 1.8. Bybit, with a TrustScore of 1.5, is rated as “Bad.”
A screenshot of Coinbase's official Trustpilot page
According to an archived version of Binance's Trustpilot page, the crypto exchange had a TrustScore of 2 in May last year, which was deemed “Bad.”
Finance Magnates approached Binance, but has not received any response as of press time.
In June, Trustpilot “temporarily suspended” the profile of Funding Pips, a prop trading platform, after “an increase in reviews related to recent media attention.” However, the prop firm's page has since been restored, and it currently has a TrustScore of 4.4, which is deemed “Excellent,” based on 13,610 reviews.
Trustpilot, a platform where real users provide reviews, has disabled the “TrustScore” of crypto exchange Binance, alleging the detection of “a number of fake reviews for this company.” The review platform has already removed the fake reviews.
Fake Reviews of Binance on Trustpilot
“If additional suspicious reviews are discovered on this profile, we'll remove those too. If you believe a review is fake, you can flag it,” a banner on the verified page of Binance on Trustpilot stated.
“We take the integrity of our platform very seriously and wanted to let you know this company hasn’t been playing by the rules,” warned Trustpilot. “When we uncover misuse, we take action and alert our community.”
When it comes to reviews of any digital platform, especially those in financial services, Trustpilot is considered reliable. Although satisfied users write positive reviews of providers there, it has also attracted stressed traders and investors who post their grievances. Any negative reviews on Trustpilot can heavily impact the reputation of platforms, as many prominently advertise their Trustpilot score to enhance their brand value.
Richard Teng, CEO of Binance
However, many have figured out how to post fake reviews on Trustpilot. Many freelancers on some online platforms even advertise their services to post fake Trustpilot reviews. Recently, the US Federal Trade Commission even officially banned fake reviews of platforms.
“We Have Zero Tolerance for Fake Reviews”
Trustpilot's action against Binance was due to a breach of its guidelines, which state: “Don't write or ask people to write fake reviews. We have zero tolerance for fake reviews and will remove them.”
Although Trustpilot is not showing Binance's “TrustScore,” users can still post reviews of the crypto exchange. Interestingly, out of 4,526 reviews on Binance, 80 percent have 1 star, and 6 percent have 2 stars. Trustpilot counts “1 and 2-star reviews as negative.”
The review website also highlighted that Binance replied to 91 percent of the negative reviews.
Interestingly, the TrustScores of most prominent crypto exchanges vary between “Bad” and “Poor.” Coinbase, one of the most reputed exchanges, has a TrustScore of 2.4, which is “Poor,” similar to OKX, which has a TrustScore of 1.8. Bybit, with a TrustScore of 1.5, is rated as “Bad.”
A screenshot of Coinbase's official Trustpilot page
According to an archived version of Binance's Trustpilot page, the crypto exchange had a TrustScore of 2 in May last year, which was deemed “Bad.”
Finance Magnates approached Binance, but has not received any response as of press time.
In June, Trustpilot “temporarily suspended” the profile of Funding Pips, a prop trading platform, after “an increase in reviews related to recent media attention.” However, the prop firm's page has since been restored, and it currently has a TrustScore of 4.4, which is deemed “Excellent,” based on 13,610 reviews.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
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Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
