Scams and Blacklist. Scams are unfortunately all too common in the field of binary options. Dishonest brokers and reviews, or rigged robots and other auto trading services – the scams can come in many forms. So we feel it’s necessary to create this blacklist and list all known frauds and dishonest techniques in one place. We also go through the steps you can take to identify a potential scam and how to deal with the situation after the fact if you’re already a victim. If you know or suspect something is a scam, and we’re missing it on our blacklist, please let us know and we will look into it! Why Are Stories of Scams So Common? When any new financial instrument or form of trading first emerges, a whole range of businesses tend to get involved. It’s a fact of life that some of those product providers are going to be more trustworthy than others. This is certainly true of binary options. It is, after all, an accessible and popular method for individuals to trade the markets. What’s more, at least in their early days, binary options trading platforms tended to operate under the radar of the regulators and from any country over the internet – so it’s hardly surprising that unscrupulous operators seek to take advantage. Thanks to better regulation, a strong online trader community and honest reviews, it’s now a lot easier to tell a scam from a legitimate broker. But as with any international online marketplace, there are still some shady outfits who will leave you with less than you bargained for. So what are red flags to look out for? Here are the points to consider as you go about choosing your binary broker.
MyChargeBack. com are a company who specialise in helping binary fraud victims recover their money. They liaise with bank or credit card firms in order to get charge backs made to reclaim deposits. They will tell you if you have a valid claim via a free consultation. Are Binary Options A Scam? The term “scam” covers a wide range of behaviour, from providing misleading information to lure you in, through to vanishing account balances – and even dishonest trading advice. Likewise, a particular broker might not be technically fraudulent in its behaviour it’s just that the service available on the platform (such as highly unreliable uptime or failure to reimburse funds in a timely manner) means that this is a broker that really ought to be avoided. In all of these cases, the problem isn’t with binary options as a concept, it’s with the broker. So it’s a matter of doing your homework before you commit to any particular platform. User reviews can be helpful (if they are genuine), but always treat such reviews with scepticism – and never make a decision on the basis of testimonials published on the broker’s website. Even trader forums can be problematic – look closely and you’ll often find that the forum is an offshoot of a particular broker’s website. Independent, thorough and comparative reviews are the safest way to ‘scam-check’ a broker. Ideally, focus on review sites that allow and encourage real-life users to get in contact and report and problems with particular brokers, so you can be sure that what you are reading is up to date.
Below is an always up-to-date list of our top 3 trusted brokers. You can find a list of all the brokers we recommend here. At present, the UK’s Financial Conduct Authority () does not regulate binary options as they consider this to be primarily a gambling rather than a financial product. But if you take a UK-based broker such as ETX Capital, this particular broker offers a range of financial instruments as well as binaries, which means that it comes with the reassurance of regulation. In other words, although binary options aren’t regulated, that particular firm is on the FCA’s register and its activities as a whole are overseen. By contrast, the USA along with most other EU countries do regard binary options as financial products. Depending on where they are based, many platforms will, therefore, be subject to oversight from a regulatory body. Examples include the CFTC in the US and in Cyprus. A platform’s regulatory status can be a highly valuable trust-indicator for traders seeking to avoid scams. It shows that the broker has to abide by certain minimum standards when it comes to service and transparency.
Marketing “Too Good To Be True” Taken in isolation, the act of placing a trade should be a straightforward one and indeed, the usability of a platform tends to be a big selling point for brokers. Although this aspect of binary options is “easy”, it’s something quite different to claim that profits are guaranteed. Realising a profit through regular trading requires knowledge of how markets behave, the ability to read market conditions and an understanding of method. If the risks are downplayed – or outright false assertions are made (along the lines of “95% trades are successful”), these are false assurances. It’s a sign that the broker may be less than scrupulous in other important areas and that the platform ought to be given a wide berth. Terms and conditions. Transparency is essential. Read the smallprint, and be especially wary of needlessly convoluted procedures for withdrawal of funds. Terms regarding your initial deposit can be another source of contention for instance, if you are denied access to the deposit until a certain number of trades are made – so your money is tied to the platform from the moment it is handed over. This deposit retention is often part of wider terms associated with a ‘bonus’. have sought to ban these sorts of terms by stopping the use of ‘deposit match’ bonuses.
Non - brands are still free to use them however, so T&C’s must always checked. These tend to fall into two categories. The first is where you are called out of the blue and invited to sign up to a particular platform. The second occurs where you are already tied to the platform and you receive a call (or email) from a “senior broker” pointing you in the direction of particular trades. Reputable brokers do not need to make cold calls. Bear in mind “cold calls” might include emails too – any form of unsolicited approach should be considered a “cold” contact and be treated with extreme suspicion. You should always be clear about who you are dealing with. In some situations, you might visit what appears to be an actual broker’s site, click the link to sign up only to be redirected to another broker. Alternatively a trading “service” may dictate that you use only their recommended broker. These “funnel” sites are sometimes used as a front by brokers with a poor reputation, or are working alongside them to dupe visitors (often using the misleading marketing mentioned above). A good broker will be upfront about its identity from the outset. It’s one thing for a broker to give you access to the data and analysis tools to work out your own strategies (in fact, this is one of the signs of a great platform). It’s quite another for that broker to also offer trading advice. After all, with ‘over the counter’ binary options brokers, you are betting against the house if the ‘house’ is making the trading decisions for you, it’s hardly likely that those decisions will be in your best interests.
This form of “upselling” is often the most lucrative for the broker, and is usually the where traders lose the most. Encouraged by an “account manager”, traders are advised to deposit beyond their means and to over trade. On occasion large accounts will be wiped out in hours. The “advice” goes against any sound money management, and increases risk hugely. Always take responsibility for your own trades. Never allow a broker to make trading decisions for you. There has to be a fair and transparent benchmark against which the broker sets its prices. This benchmark should be what’s happening in the real world i. e. real-time market prices. If the broker reserves the right to set its own prices, you can assume that those figures will be skewed against you in other words, a loaded deck. Scam Brokers and Not Recommended Operators.
The brokers listed below have generated a lot of complaints both directly and on the forum. The disputes vary from upselling and encouraging traders to over trade, to non-payment of withdrawals and price manipulation. There is little recourse for traders to raise a dispute with unregulated brokers, so it is generally advised that you look for trusted binary options brokers – preferably regulated in your own country where possible. “Scam” has become widely used as a term to refer to any form of poor service, but it should be noted that many of these brokers may have done nothing dishonest or illegal, but have attracted higher than normal levels of complaints. If in doubt, trade elsewhere. There are plenty of honest brokers out there. Robot And Signal Scams. These signal providers, or robot services, are either scams or not recommended for other important reasons. What To Do If You’ve Been Scammed. Do you think you’ve fallen prey to a binary options scam? Read on to find out what you can do if you’ve been scammed.
There are many ways to help ensure that you don’t fall prey to a scam but the reality is that even if you follow all those tips there is still a possibility you will be scammed. If that happens, what do you do? Do you sit back and take it? Do you give up on trading? No, you need to stand tall and look out for yourself. Trading is good, it is rewarding and can lead to a life in which you don’t have to go to a job and punch a clock. You can’t let the actions of one broker, signal service, robot or guru dissuade you from that path. This article is a look at what you can do if you think you’ve been scammed. It’s likely that once an issue arises you won’t be able to get your profits, it is possible to get back your initial deposit but it might take some work. MyChargeBack. com are a firm specialising in helping victims of binary options fraud. They help claimants to explain the incident to the bank or credit card company, so that they fully understand what has happened. Some banks are unaware of binary trading and are unwilling to listen to claims. MyChargeBack help in this situation. They have a solid record of recovery from genuine claims.
If you are not yet looking for third party help, here are some steps you can take yourself: Document everything. The very first thing to do is to make records of everything you can. This includes the brokers, or SSP’s, terms&conditions, copies of any emailsSkypelive-chat you have had with them, confirmation of your deposit, turnover requirements for bonuses and your trading history. No matter what you do next, this information will be required in order to get satisfaction. What you do next will depend on the type of scam you have fallen prey to. Try to withdraw. Broker won’t let me withdraw. Contact the broker and try to find out why they won’t let you withdraw. The most usual reason is that you’ve not sent in the right ID documentation, something required by international law, and is an issue easy to fix. The next most pressing reason why withdrawals are not allowed is due to bonus terms and turnover requirements. If you haven’t met conditions you will not be allowed to make any form of withdrawal which is why you want to keep track of all your trading volume and turnover. If you didn’t accept a bonus in the first place your documentation will help you prove it. A good broker will try to solve your issues, a shady one will give you the run-around. Make your voice heard. Broker keeps giving me the run-around. If your broker is giving you the run-around and won’t address your issues the next best avenue for satisfaction is to let the community know what is going on. After all, it is the squeaky wheel that gets the grease.
You can do this by posting complaints, with details, in forums like the one here at Binaryoptions. net. When you do this be sure to let the broker know and send them a link. They may not care, a sign of a shady broker, but when it comes to reliable brokers they will want to address your problems to avoid poor publicity. When posting complaints give as much detail as possible, just saying that a broker scammed you is not enough, proofs of fraud are what get results. Contact their payments provider. The broker won’t help, now what? At this point the chances that you have been scammed, and not just suffering from miscommunication, are quite high. If you can’t get satisfaction from the broker you will have to take more drastic measures. If you deposited by credit card this may mean calling the card company and requesting a charge-back. Let them know the initial charge was fraudulent and that the company in question is not returning your contact requests for best results. The Times Of Israel reported that a victim of fraud was able to get a full refund of his deposit after contacting the financial institution that processed the brokers payments. They withheld payments until the broker satisfied the claims.
Contact the regulator. Time to call out the big guns. The great thing about expanding binary options regulation is that there is an alternative for many traders who think they’ve been scammed, you can contact the regulator. In some cases this can be a challenge as many brokers are located off-shore and hidden behind holding companies and virtual offices so be sure to do your homework. If the broker is regulated contact the agency overseeing them, if they are not regulated contact the agency which oversees financial regulation in your country. If the broker is regulated they will have to address your issue, to the satisfaction of all parties, in order to remain compliant. If they are not regulated at least you can be assured at least they will have a harder time scamming any more people from your country. At best cooperation between regulators could result in the broker being shut down for fraud. Be persistent. Shady brokers like to hire people who are good at deflecting questions and complaints, don’t accept what they are telling you. It may take time but eventually you will talk to the right person, or persons, and your case will be addressed. What is most likely to happen is that the combination of your contact requests, forum complaints and charges with regulators will add up to one thing, the broker giving you your money back to avoid a much bigger hassle. How to Spot a Trading method Scam. The internet is loaded with ads, articles, companies and individuals trying to provide you with the next big trading method that will make you rich overnight.
Take pause my friend, here are tips to help you spot the scam. A System or Only a method? First and foremost, trading strategies aren’t really going to help you become a good trader. What you actually need is an entire system. When you make a trading plan it needs to cover how you will enter markets, exit markets and how you will manage your money. It also needs to tell you under what market conditions you do all these things. That is a system, it tells you everything you need to know about how you will trade. A method on the other hand only tells you when to enter and exit, and may not tell you under what conditions it works best or poorly. It also may not provide guidance on position size or whether you can trade multiple assets at the same time – issues which are very important to address. In other words, a method may have missing pieces of information you need to be successful.
We need a complete trading system…but marketers are smart, so they can easily just call the product they are selling a “system” to make it sound more complete. But is it? Here are several things to watch for which could tip you off the product is probably a waste of money: A boxed system is one where you don’t get to know how the method works – it’s an opaque “black box”. For example, the product may just be a series of indicators or a service that tells you when to trade, but not why. This isn’t going to make you a better trader, because you don’t know what is happening behind the scenes. If a product or signal service stops operating you are left with nothing. Even if you made money with the productservice you have to start from scratch all over again. Make sure if you buy something it explains how it works, so that eventually you don’t have to rely on the productservice. Extremely High Win Rates. Is it possible to have a 90% win rate? Absolutely, yet it is also possible to lose money with a 90% win rate.
Stats are easily manipulated to tell partial truths or fabricate lies. Other popular tactics are saying things like “Made $500 in one day!” So what? That doesn’t actually tell you anything. If that was on a $1,000,000 account then making $500 isn’t so grand. And if they lost $3000 they day before, then making only $500 today and bragging about it is rather paltry. Read between the lines. What isn’t being said? To understand performance you need several bits of information: Account size (capital), percentage return, amount at risk on each trade, amount of profit per trade, winloss ratio, biggest winner, biggest loser, average winner, average loser, number of trades and period over which the method was testedprofitable. There are also some other metrics that could help you out, but if you ask the company for these bits of information, and they can’t or won’t give them to you, be suspicious. You can usually get a sense of what vulnerabilities and tendencies a system has by looking at the above stats. One of the main things is that the method should be tested over a long period of time, and in all market conditions–up trends, down trends, ranges, volatile and sedate conditions. It doesn’t necessarily have to profitable in each of these environments, but it should have at least been traded through them all so you know that the system is profitable overall . Often marketers will only publish results for a period where method did very well.
But this doesn’t give you a real idea of how the method or system works over the long-term. Related to stats there is something else you need to consider. If a system is profitable, that result is based on all the trades. If you buy the product or the service, are you going to trade them all? On issue many traders face when subscribing to a signal service is that they don’t trade all the signals. If you don’t trade all the signals then your personal results could be dramatically different than the typical results of the service. Avoid a system that only trades in one direction, for example only buys assets but won’t short sell them. Markets rise and fall, you want to participate in both trends. You should be able to test a product and be able to cancel without a fuss if the service isn’t for you. Usually a quick trading forum search on Google will reveal what others have shares about a product or service. No trial, no deal.
Don’t trust anyone, test things out for yourself. If they won’t let you, then be wary. Final Words on Identifying Scams. A product or service shouldn’t make you reliant on it. It should show you behind the scenes so that eventually you can trade on your own. Good products will always have customers since there are people who don’t want to do the work themselves, and there are always new traders. There is no reason to make every customer totally dependent. Be wary of stats that are thrown out. Ask yourself what the stats aren’t telling you. Also, if the stats they provide are legitimate, then you’ll need to trade all the signals to take advantage and get results typical of the service. Of course remember though, past performance is not indicative of futures results. That is way it pays to do some homework, and make sure the methodsystemserviceproduct is based on a long history, and has proven itself profitable over all types of market conditions. Test out a productsystemservice before buying it. If they won’t let you try, be suspicious. Case Study – JV Affiliate Marketers.
In this section we will look at how you can avoid being scammed by Binary Options JV Affiliate Marketers. Its not so hard, but requires you to let go of your emotions and examine things in a logical manner, as many of the scammers use emotional greedfear tactics to get your money. Once you understand this you can quickly and simply save your time and money with these unscrupulous dolts. Some scams are simply comical in how stupid they are, while others can be very well done con jobs that lure you in with seemingly genuine peoplesystemsreviews which later you find are the exact opposite, as you look at your $0 balance wondering “Where did my money go!?”. As you will see in the numerous scam videos, all you have to do is “NOT DEPOSIT” then these scams no longer work. So next time you see videos that are of a similar nature, just know they are supporting scam systemsmarketers. Understand if they require a deposit they are fly by night and even if they were not they are supporting the scammers by the nature of requiring you to deposit with a new broker. So just refuse to deposit and they go away. Not the same stories kind of stories and promises over and over all to get you to sign-up to their “free” systembots… They are not free you have to deposit and they get paid on those deposits… So remember limited timefast moneycan’t lose!just fund your account = don’t do it! In this image above you can see many of the scam systems are connected to each other on the same servers most often. These JV marketers have tons of these turnkey scams as they are very low maintenance. The reason you see so many of them is after a few weeks of the new story line wares off and becomes boring they will start production on another one and keep it all fresh and new thus avoiding the wrath of their old scams being complained about and those complaints shared with others. If they keep it new they avoid this along with the fact most newbies jump from one scam to another hoping one of these will work, which none of them do because trading is a learned skilljob… So again, understand their stories and how they work, and don’t deposit .
Case Study – Scams on Social Media. Social media is a “perfect” platform for scammers and can be even more insidious and convincing, and unlike the JV marketers these people will talk to you directly, but only to a point. Once they figure they can’t get any more from you or you no longer have value to them, they will un-friend you in a heart beat. The one thing they are all after is your money, so be on the look out for them asking for deposits or sign-ups telling you about amazing profits and opportunities, which will have you end up with empty pockets. Videos such as those used with both “The Green Room” and “FB Wealth Group” will pretend to be tradersfriends, while they are really just out to get your money through either signups or even trying to have you pay them directly. Also – if you see them mention anything MLM ( Multi Level Marketing) related, they are trained to lure you in, so run the other way. These people don’t play around and will say whatever is needed to get you to sign-up and invest. There is a 45 minute long interview of a person that was scammed by both “The Green Room” and “FB Wealth Group”. We named it Binary Options Horror Story because that is exactly what it is in all its gory details. If you are new to binary options read, and absorb the above warning signs fully to see how they scammed people out of their money so it does not happen to you. Notice also how the worked with the brokers directly, which implies that they can be directly involved as well. Scammers will repeat the common element of wanting you to deposit or even asking for money directly and from there you can tell them “no thanks” and make sure to unfriend them. Binary Options Brokers Blacklist. Binary options brokers help investors in making transaction for sale and purchase of assets in exchange as it is the special subspecies of all the options.
The uniqueness of the instrument is that at the fixed time the purchase can be accomplished in future or at present with an expense of binary options . There are some brokers who have not fulfill their responsibilities to the traders. We have made binary options blacklist for those compamies . Popular Models of Scam. Every defaulting binary options broker conceals with his fraudulent scheme, if the user get to know about that but can’t take any possible action but can allocate with possible variants like: Request for withdrawal is blocked the user fund is blocked as it is the best working scheme as the trader is not aware even at the end that he has already lost the deposit. Work with fake quotes directly the broker cannot interfere technically and then it is possible the flow of market information is reconfigured and in result there is significant difference between the quotes and the data which are easily available at the platform of broker. Quotes are slightly different at the different platforms as they come from the sources of different places and due to all this the trader loses and the worst is that the broker remains suspicion and above that. Slippages many of the users lose with the bet as in binary market at every second the position of the trader is activated with delay. Untruth management under this the user transfers his account under the control of the professional trader who systematically reduce all the system. Broker does not hesitate in following all these steps and methods at the time so it is essential to save deposit to recognize fraud with all the basic techniques. BlackList of Binary Options Brokers.
The current binary options brokers scam list: Binary options are one of the effective, fastest and legal techniques at the exchange for earnings but the problem occurs with the new traders as he is not capable and does not have the ability to use fully. By unfair brokers the situation is complicated as various manipulations of technical hider give the opportunity the user to earn. Under all this you will get to know about the popular scheme used by blacklisted brokers and how in advance the unreliable partner can be identified. How Do Blacklisted Brokers Works. You should not connect with any additional complexities if you feel that any investment activity conjugate with the risk that is increased. You should evaluate with new binary broker with reliability of partners. The broker chosen with should check all the documentation as the companies who are honest will not hide this component and will provide on demand without any problem. When going through the process of registration it is important to read the content with full attention and in which country and it has the certified regulator broker or not. The very indirect sign is that exploring the reviews as to create the reputation of the broker the internet option to be paid specifically in majority to do harm that why to make objective assessment to visit a dozen resources is very important and also to pay attention to the problems that is massive and is arising due to customer interaction and you should look for the reviews that is related to fraud. On the availability of the limit cash the broker can be checked with the honest partner and financial stability with an impressive amount that affects the small investors.
You should always try to immediately withdraw with the money deposit. The Binary Options Blacklist with Reviews & Ratings. Our list of legit and recommended broker s. The Blacklist – Brokers To Avoid. Helping you avoid the scam brokers and find the legit ones is why we created the trader driven Binary Options Blacklist . We welcome you to our virtually ‘no holds barred’ ratings, comments and broker reviews website. The binary options industry experienced an increased in popularity lately. Traders from all over the world now have access to an industry that prides itself as being the simplest form of trading. Yet, there’s a lot of controversy surrounding it. Many brokers simply fly under the radar. Meaning, they’re not regulated. Others, simply don’t operate legally in a country or territory.
For this, they use offshore companies. In other parts of the world, trading binary options is simply illegal. It’s not allowed for a broker to offer the services. Moreover, on top of all these, in most of the countries in the world, there’s no legislation. Because of that, brokers found an opportunity to profit from people’s desire to make a quick buck. As such, the industry is plagued with scammers. Not all brokers fall into this category, though. Many of them run eligible businesses. However, the problem comes not from the broker’s side, but from the traders. Traders have the impression binary options is an easy game. First, this is not a game.
Second, it can be anything, but trading binary options is not easy. When compared with other financial products and financial sectors, trading binary options comes with a handicap. From the start, the traders must use a risk-reward ratio that is unfair. To put this into perspective, imagine the Forex industry. Any serious trader doesn’t even think of going in a trade without 1:2 or more as a risk-reward ratio. This means that for every pip or amount risk, the expected reward is minimum two times. This gives room for error and allows traders to incorporate losses while the account still grows. In the binary options industry, the maximum reward is around 90%, with most of the times the rate or return being well below this number. From the start, traders face tough conditions. What Are Binary Options. In principle, trading a binary option is a super-simple process.
Or, at least, it should be. All you should do as a trader is to guess the direction of a market or financial product. Namely, if you think the price of an underlying security will move to the upside, then you should trade a call option. On the other hand, if you think it will fall, you’ll trade a put option. Note that you can only buy an option. A put for a bearish setup and a call for a bullish one. When compared with Forex trading, the difference is that a Forex trader buys or goes long, and sells or goes short. Still, heshe needs to give the general direction. Moreover, when it comes to binary trading, traders must set an expiration date. In fact, a binary option has two elements traders need to decide upon: the striking price and the expiration date. No only traders need to indicate the direction (that’s the entry price or the striking price), but they need to indicate a point in time when the option will expire. In plain English, a point in time when the comparison between the striking price and current price will be made. Based on the outcome, it is said that the option expires in the money or out of the money.
The pros of trading binary options come from the simplicity of the product. Moreover, with a sound money management plan and avoiding short-term expiration date, trading binary options is a nice way to diversify a portfolio. Unfortunately, the cons overcome the pros. Because traders need to indicate the time element. The holy grail in trading is price and time, and binary options include them both. Binary Options Scams, Ripoffs & Bad Trading Sites. As mentioned earlier, the industry is plagued with binary options scam brokers. Because of this, it is very difficult to read a positive review even for good brokers. Traders must know one thing in advance: a broker must be regulated. This is not valid only for the binary options industry. In general, if you place your money in a trading account, you’ll want that entity to be regulated.
The financial authority that regulates a broker gives a license number. To be regulated, the broker must follow specific rules and have a specific conduct when doing business. The license can be suspended if the financial authority finds out otherwise. Unfortunately, regulation costs money. It is an expensive process and brokers don’t like spending money if they can find other ways to attract traders. As such, they register the company in an offshore environment, without being regulated by a financial authority. From this moment, scamming people is quite easy. The most popular and “legal” way to scam traders is to offer them a welcome bonus. This is similar to the Trojan horse in the Greek drama story. The thing is that the brokers offer the bonus but tie it up to a super-unrealistic trading volume. In other words, traders can’t even withdraw their deposit, until the trading volume is reached. Needless to say that the more you trade, the more risks you’ll take, and, in the end, the chances are with the broker, meaning traders will lose their capital. Statistically, in Forex trading, over ninety percent of retail traders lose their first deposit. In binary trading, the chances are even bigger than the ones in the Forex industry.
A bad trading site doesn’t make public the registrationregulation number. That’s the first sign the broker is not trustworthy. We use the comments here on the binaryoptionsblacklist. com to rate and classify different brokers. A green badge means the broker is trustworthy, according to the median of the comments here, and is verified. An unverified broker gets an orange badge, while a scam deserves nothing but a red badge. Approved – A green badge means this is a broker that we trust. We would and or do trade with today. These are the current leaders of the binary options industry, & where the majority of traders are trading today. They have a positive reputation in general, a track record of integrity, fairness and competitive returns. We feel most confident trading binary options at these sites. Use Caution – A yellow badge means that we have not done enough research to decide on this broker yet.
This is a broker that has been recommended by others as a place to trade. There was not enough info to make an informed decision about the broker to rate them green or blacklisted. Comments and trader reviews highly encouraged on yellow rated sites to help educate everyone and update our ratings. BlackListed – When a broker has the blacklisted red badge this means that we would not trade there. There is enough negative information found through our research that we decided this is not a binary trading broker that we would feel comfortable depositing money at. Since we would not deposit our money there, they get the Black List badge. Binary Options Trading Sites Listings – How We Get Our Top List. Without being regulated, a broker will always have a dark shadow on its name. The purpose of regulation is to protect customer’s interests. A good example comes from the Forex industry. When the SNB (Swiss National Bank) dropped the peg on the 1.20 floor on the EURCHF pair, many brokers went busted. However, because they were regulated, the clients could receive the money from their trading account. It took a few months, but the whole process was well-communicated and there was never a shadow of a doubt that the financial authority would not step in. As such, regulation is a must. Regulation comes with specific conduct.
A broker cannot simply do what it wants with the funds it receives. Tougher regulation comes with segregated accounts. It means the funds deposited will not be touched by the broker. They’ll be deposited in a separate, segregated account at a custodial bank. The broker will only earn from commissions and fees. This way, everyone’s interests will be aligned in the same direction. A good broker doesn’t have a minimum deposit. Or, if it does, it is quite small. They leave the option in the hands of the trader and use the time they trade to offer the best possible trading experience. Starting with the opening of an account process and ending with withdrawals, there should be no flaws what-so-ever. Typically, a good broker will have good reviews.
However, even reviews are sometimes scams. Because of the tough competition, people are sometimes paid to say things about a broker. Other things like the possibility to trade on a demo account, to choose if you want a bonus or not, if the broker offers a trading app or not – all these are part of a good broker. However, everything comes after regulation. Scam Brokers and Claims of Fraud and Theft – What Is Really Going On? Unfortunately, the binary options industry has a bad reputation. The problems start from the way the industry is advertised. Traders should know that buying a call or a put option requires the same method as buying or selling any financial product. Therefore, everything is the same. While traders know there’s a lot of risk involved and succeeding in financial trading is not an easy task, the binary options traders fall prey to false advertising. How many of you saw at least one commercial in your Inbox or online saying that the lady that sells groceries just made a profit of a thousand dollars in a day? Probably all of you.
Now, let’s try to keep it real. Why would anyone advertise like this? Moreover, why would anyone believe this is true? In fact, binary options trading is no different than Forex trading, or CFD’s, Stocks, and so on. The process is the same: traders use technical or fundamental analysis to buysell a financial product. What makes binary options even more difficult is the time element. Traders must choose an expiration date for their option, on top of the right direction. Most of the binary options blacklist brokers end up stealing people’s money. They have aggressive selling techniques, dedicated trading managers, that simply don’t care about the basic principle of money management in trading. Scam brokers will always push for traders to trade more and more. Especially short-term to very-short-term expiration dates. In fact, the chances to be consistently profitable trading one-minute or five-minute binary options are almost close to zero.
Moreover, unverified brokers use the same principles as a market maker broker does in the Forex industry. Namely, they create a “virtual market” for their clients. In other words, they don’t “route” the orders to the interbank market or other liquidity providers. They keep all their orders in house and bet on the fact that the clients will eventually lose their funds. When that happens, they book the funds for themselves. There are plenty of software specialized in mirroring quotations. Independent Binary Broker Reviews – Comments and Ratings from Traders. That is an interesting topic to consider it, especially if traders want to find verified brokers. There are several things to consider. Firstly, regulation. If the broker is regulated, it means a financial authority verified it and its activities. Moreover, the process repeats on a constant basis.
Secondly, independent parties, like websites as this one, may take upon the task of listing scams in the industry, honest brokers, and give a ranking of good and bad brokers. On top of it, customers reviews matter the most. Here, too, things must be taken with a grain of salt. There’s a lot of spamming going on. Scam brokers comment and spam forums too. For this, we moderate any obvious spam and links and allow only appropriate behavior. A customer review matters the most in all industries. If a broker scams once, it will do it again, on and on. As such, traders must decide on their own if the broker is indeed the partner they’re looking for. This feedback helps us with our ratings for the brokers listed here. However, the lists here are just that: lists. Traders must know that buying or selling a financial product comes with a risk. While there are plenty of opportunities, there’s also the risk of losing all the capital involved. For this, any broker, no matter if binary or Forex, makes sure the clients know that they should never trade more than they can afford to lose. Trading is a game of probabilities. But, above anything, trading is not a game.
These are real money involved. As such, traders must know the risks and the potential rewards involved. Moreover, trading is not an easy task. There’s a lot of work involved, like in any regular job. Sometimes the market simply doesn’t move. When this happens, traders will insist on trading. They end up overtrading and if they are on the wrong side of the market, the funds are gone. But, successful trading is not impossible. Patience and discipline are key. Together with a proper trading education and the right partner (broker), traders can make it. The broker and the trader should have the same interests. Only when this is the case, traders have a fair representation in the financial market. Never deposit more than you can afford to lose. We wish you the best of luck on your trades!
** *NO links in your comment if you want it to be approved and published. All comments are manually moderated by our team, and all variations of an email addresslink will be removed and the poster will be banned. Only genuine feedback on broker experience is allowed. Sorry!! But the spammers are relentless. Binary Options Brokers. Hi there, welcome to our short list of recommended binary options brokers. Top 10 Binary Options Brokers – 2017. Last updated 091317. There are hundreds (actually over a thousand) of brokers available, but few that I feel comfortable listing on my legit list. By finding the legit brokers with the best reputations in today’s binary option markets while avoiding the scam trading sites we give ourselves the best possible chance of making good money trading binaries. It is somewhat unfortunate that we have to be so careful in choosing which broker we trade with. However, nefarious or not, our governments around the world dictate what adults can do with their money.
They regulate business, for better or worse. They say who can and can not play in their playground. So that means that most of the binary trading sites we list operate in European countries. The truth is that many of the new and existing brokers are unregulated by the major governmental regulatory agencies. This, and greed, has led to many fraud brokers operating in the past and into today. To put it lightly, the binary options industry is rife with fraud, cheats and deception. Just go to the home page and scroll to the bottom. There are thousands of complaints from traders. That is where we come in. There are some high quality, reputable and legit binary options brokers you can feel safe trading at. Let me be clear this does not mean that you will not lose money! You might or you might not. Binary options are risky in general. There are regulated, legit and honest brokers available today. The cream is rising to the top. Be picky.
Invest carefully. With big reward comes big risk. Know this up front and be okay with it before you begin trading. Just make sure you find the right binary options brokers because if you are lured in by a shady, unethical broker then it is virtually impossible to think that you are going to profit and you very well may not get your deposit back, either. We want to help you find the best place to trade binary options by helping you first avoid the rogue brokers and then comparing the legit brokers to find one that suits you. We have spent thousands of hours researching trading binary options and the different brokers. We are compiling this information to build out this directory of top binary brokers of 2017. Find the best place to trade binary options online right now from our list of brokers. I debated the best way to list the good brokers and finally decided on creating this page. A “Top 10 Binary Options Brokers” list that I update as often as needed. Things are constantly changing in this environment and we work to stay on top of it for you. Binary options trading is risky as hell by itself. And, while the brokers market is maturing it is still in a ‘wild west’ phase.
Brokers are popping up left and right. Some of them have huge marketing budgets and pay a lot of money to bring in new players. Even though the CBOE regulated binary options trading in 2007 making it a legitimate form of trading in of the financial world. Binary options trading sites offer huge returns fast in exchange for a substantial risk. Big money, big risk. You can make more money in 60 seconds than many people make all day if you are willing to take a risk. How? Select a legit binary broker from our top list above and create your account. Deposit what you are willing to risk and start trading binary options for money. What To Look For When Selecting A Trading Site. Here are the things that most traders find important when looking for the right place to trade binary options.
Your needs may vary and you can take a closer look in our binary options broker comparison chart. Our comparisons are different than the ratings and reviews. The comparisons tell you things like what types of deposit options are available, what type of binary option trade they offer, and a look at the best returns. Reputation is everything (regulation is not) – Reputation is more important than any sort of regulatory seal of approval. There are un-reputable sites that claim regulation and very reputable brokers who are un-regulated Payouts are timely and consistent – Never deposit at a site that has a history of bad payouts. Returns are competitive – Why risk the same amount of money with a smaller return? Find two brokers you like and compare their returns for the same trade. Go with the one with the highest return. Types Of Binary Options Available – If you are looking to trade the less common types of binary options like the range options, one touch or other more exotic style of binary option then you will need to find a broker that offers that type of trade. The common ‘up-down’ binary option choice is available at all brokers. Types of Assets – Some binary trading sites offer more assets to trade than others. If there is a particular stock you want to trade or if you want to trade commodities like gold, silver and oil then you need to find a broker with the asset you want. Personal Account Manager Or Not – Do you want someone to walk you through your trades?
Do you just want someone to discuss your trades with? Some binary trading sites, ex 24option, have very active personal account managers. You get an account manager who will trade with you every step of the way. Newbie or not. Other sites are less focused on building an account manager relationship with you. To learn more about the recommended brokers, read the binary options reviews or compare binary options brokers with our broker comparison table and most of all read the hundreds of comments from other real life traders before your deposit your hard earned money. Look At The Trading Platforms Used. There are only four binary trading platforms available today. Virtually all of the brokers white list from the same small group of platform providers. There are well over 100 different brokers white-listing the trading platforms. You can learn more about the binary option trading platforms available and find our recommended brokers for each platform. Avoid Binary Option Scam Sites. Scams happen in virtually all businesses.
Binary options trading is no different. Actually there are way more scams in the binary option world right now than there are many other industries. You must choose a trustworthy, legit and safe binary options broker. Most importantly is that they are reputable and that they pay out consistently! We keep up to date with the binary options brokers and the different binary options trading communities. When we come across news or information of note about a particular binary broker, we will update our review timeline with a link so you can go learn more yourself. If things turn too bad, the broker is added to our binary options blacklist. About BinaryOptionsBlacklist. com – Complaints Board, Trader Warnings & our “Best Of” Top Lists. This website was first launched in April of 2012. We have a passion for binary options trading and helping make sure that new traders have well informed choices about which binary option broker to join. The only way we know how to do that is to let actual traders post their comments, ratings and reviews. BinaryOptionsBlacklist.
com is the one resource that lets user comments go un-moderated (except obvious spam or anything illegal etc). We share the positives and the negatives of all the binary options brokers we list on this site so you can fairly and accurately decide if you want to trade there. We live by the motto that you as someone who has found this site is smart enough to know a fake review from a real one when you read it. That is why our binary options reviews are different. They are driven by traders themselves as much as they are willing to participate. Sure, we focus on our choices of the best binary options trading sites online and for full disclosure you should know that it is quite possible that we earn advertising dollars for creating and maintaining this site. We are not a guide on how binary options work , or a resource for binary strategies that win. There are a small but growing list of quality resources like that already available. However, there are few legitimate binary options broker review and rating sites on the market. We created this site to list the good and the bad about the binary options brokers out there. You can see our lists of best binary options brokers and you can see our binary options blacklist which is made up of brokers that we wouldn’t deposit a dime of our own money. We last updated our best of brokers list and paid most attention to trader complaints, allegations and related activities. The brokers on our list are by no means squeaky clean in terms of complaints from traders. Even the best brokers in the world have the majority of their traders lose.
These traders need someone to blame and they blame the broker. That is why you will find tons of complaints and comments on this site itself that are negative in nature even to our top rated brokers. Trade safely and with money you can afford to lose.