Binary Options Scam.
It’s sad, but it’s true . Scams are something that dominates the binary options trading market. They can be in any form – robot services or scam brokers. You have to be always prepared and cautious against all sorts of binary options scams . For your convenience, we have prepared a scam list along with highlighting the name of scam brokers .
On this page, you can find the list of non-recommended binary options brokers . Anyway, it doesn’t mean that all the brokers on this list are fraudulent and steal money. We can just not recommend them for another reason. After a click on the brokers‘ logo, you can see the detailed information and the review. In the case you see a mistake, do not hesitate and sen dus a comment. We really value your help. Our aim is to be constantly adding new and new brokers , both reliable and on the other hand also the brokers, who have lost our trust.
Broker Status Withdrawals problem Scam phone calls Still in business More information SCAM Yes Yes Yes NOT RECOMMENDED More information SCAM Yes Yes Yes NOT RECOMMENDED More information Not recommended No No Yes NOT RECOMMENDED More information SCAM Yes Yes No NOT RECOMMENDED More information SCAM Software Yes Yes Yes NOT RECOMMENDED More information Unfavourable offer Yes No Yes NOT RECOMMENDED More information.
A broker is, in the binary options world, a company that people trade with. First, a registration is needed. Afterwards, a client deposits money to their trading account and can start trading with real money. When client makes a profit, it can be withdrawn. Some brokers have an easy-to-use platform and therefore we recommend them for novice traders.
Some, however, are not worth anything and eventhough they seem nice, we don’t recommend them. It migh even happen, that they will never pay out your earned money. That’s why you should always check, whether a broker you chose, is not on this list.
Avoid binary option scams.
Do not get hooked and do not trade with brokers listed above. On the contrary we recommend that you look at our list of recommended brokers
https://xbinop.com/binary-options-brokers/ to which you don’t have to be afraid to entrust your money. All brokers on this list are reviewed by us and they comply with all the rules and regulations of regulatory organs as is FCA or CySEC.
Binary Trading Scams.
When something new launches, such as any new financial instrument , a whole lot of businesses try to get involved. Some of the businesses may be trustworthy but some may not be. This holds true in a case of binary options too. Being widely popular and famous, binary trading can be accessed by anyone. In the past, there were no ground rules indicating who can trade and who cannot. Also, it was not under any particular regulatory authority, thus making it easy for unscrupulous operators to take advantage of.
However, now the situation has changed. Better regulations are being observed now, which helps in revealing scams easily. Frequent online reviews and strong feedback systems ensure transparency. But you also have to be alert in case any shady outfit wants to trade with you. You can read more about binary options regulations here.
TIP : Read this article CySEC tightens the rules for binary options trades.
There are several red flags to watch out for. And some of them are highlighted below that will help you choose a reliable binary options broker platform:
What Exactly Does A Scam Mean?
From giving false information with the intent of luring into something to eloping away with all your account balances, the meaning of scam can be varied. There is no particular meaning of scam as such. It might be the binary options broker with whom you are trading is not unscrupulous but the service that he provides is fraudulent. Like, their firm doesn’t let you withdraw funds on its due date or his advice are dishonest. So, at any cost, you should always avoid these kinds of binary brokers for your own safety and security.
A scam that should be avoided, too, is when people call you and tell you they will manage your funds for you. You should never trust anyone with your funds, be the master of your own destiny!
SCAM BROKER : An example of such scam broker is EZTrader (Is EZ Trader Scam).
From what was said above, the main issue doesn’t lie with the concept of binary options trading but with the principles of binary options brokers and other providers. So, what you need to do is chalk out a proper plan and do the needful homework before choosing any respective platform. Go through the reviews, provided they are reliable. Fake brokers reviews are also quite common; therefore you should not entirely make any decision based on the reviews. Testimonials and reviews published on a broker’s website are often compromised, so don’t form an opinion based on that. In fact, trader forums can also be manipulated by a particular binary broker or his website.
The best way to choose a brokerage firm is by relying up on independent, personal and comparative reviews. Select review sites that only allow real-life users to directly contact and file a problem with a particular broker, thus guaranteeing credibility and transparency to the issue. Have a look at the list of our recommended brokers for example. There’s a discussion beneath every single review.
Regulation.
The US recognize
binary option auto tradig options instruments as financial instruments . So do European courts. Depending on the locations and the countries, binary trading falls or not falls under any particular regulatory authority. Some of the authorities are CFTC in the US and CySec in Cyprus.
To inspect a broker’s reliability quotient, regulatory status can serve as a good indicator for those who want to avoid scams. When a brokerage firm falls under a particular standard or regulatory authority, he is bound to maintain transparency.
Don’t Believe In ‘Too Good To Be True’ News.
The trading on binary options should be done in a straightforward way. For this, the platform of trading should be reliable and quick. The profits can be predicted by carefully analyzing the market and reading the future market conditions while understanding future strategies. However, if a somebody with a binary options strategy comes to you and assures you 95% success rates then that can turn out to be a false assurance. No one can say whether you are going to strike profit or loss, as everything depends on speculation.
Read the Terms and Conditions Carefully.
Having a good idea about binary trading options makes thing easy and simple. In any kind of trading, transparency is an important constituent. Read the documents carefully and give special importance to the needlessly complicated portions about a withdrawal of funds. When you are denied access to your deposits up to a certain number of trades, you need to know your position well. Guidelines regarding initial deposits should be understood fully; after all, you are investing your hard earned cash, so you deserve to know about what you are getting into.
Bonuses are also given from time to time and are widely associated with deposit retention. Though CySec has banned these kinds of deposit match bonuses, non CySec firms are at liberty to use them. However, you should always check the binary broker’s terms and conditions thoroughly.
Pricing Mechanism.
A fair and transparent benchmark should be followed by the brokers to set up prices. This benchmark should be based on real world market situation. If by any chance broker decides to set their own prices then you must assume that those figures have been tampered with. These unscrupulous brokers will try their level best to force you to pay higher prices, hence you must be well-guarded.
