Unfortunately, scams are very common in the binary options field, untrustworthy brokers and reviews or rigged robots and other automated trading services – scams can take many forms, so we feel that It’s essential to create this blacklist and list all the scams and untrustworthy tricks in one place, we also take steps you can take to identify potential scams and how to deal with situations after. Fact if you are already a victim, if you know or suspect something is a scam and we missed it on our blacklist please let us know and we will investigate it!
Why are stories of scams so common?
When a new financial instrument or form of trading first appears, a wide variety of businesses tend to get involved in. It is a fact of life that some product providers are more reliable than others. Binary options are an accessible and popular way for individuals to trade the market, at least in the early days binary options trading platforms tended to operate under the radar of regulators and from any country over the internet, so it comes as no surprise that thanks to better regulation, a strong community of online traders and honest reviews, it is now much easier to tell a scam from a legitimate broker. But like any international online marketplace, There are also some shady outfits that will make you have less than you bargained for, so what are the red flags to look out for?
Are binary options a scam?
The term “scam” encompasses a wide range of behavior, from providing misleading information to lure you to losing your account balance – and even dishonest trading advice. Similarly, a broker may not be technically deceived in its behavior. It is only a service available on the platform. Some of the risks (e.g. highly unreliable uptime or failure to reimburse in a timely manner) mean that this is a broker that should be avoided.
In all these cases, the problem is not with binary options as a concept. But it’s about the broker.
So it’s a matter of doing your homework before you accept any platform. Any user feedback will be helpful. But treat such reviews out of curiosity – and don’t make decisions based on testimonials published on the broker’s website, even trader forums can be problematic. It was found that the forum was a particular broker’s website, the detailed reviews and side by side comparison was the safest way to ‘Scam review’ brokers, in particular, should focus on review sites that allow and encourage real-life users to contact and report issues and issues with certain brokers, so you can be sure that what you Reading is up to date.
Trusted Broker in Ukraine
Below is an up-to-date list of our top 3 trusted brokers, you can find a list of all the brokers we recommend here.
Brokers are filtered based on your location. (Ukraine) Reload this page with location filtering off.
General Risk Warning: Your capital is at risk.
* The amount will be credited to the account in case of successful investment.
regulations
The UK Financial Conduct Authority (FCA) regulates binary options, they have created a list of unauthorized companies, while they are not calling them a scam. is making it clear that these companies are illegal by trading with UK visitors – so they are best avoided. A full list can be found here: FCA Prohibited List.
On the other hand, the United States, along with most other EU countries, consider binary options a financial product depending on where they are located, so many platforms are regulated by regulators, examples are the CFTC in the United States and CySec in Cyprus. The regulatory status of a platform can be a highly valuable indicator of credibility for traders looking to avoid scams, it shows that brokers must adhere to certain minimum standards when it comes to service and transparency.
Marketing “too good to be true”
In isolation, the act of trading should be straightforward; and of course, the usability of the platform tends to be a big selling point for the broker, although this Binary Options is “simple”, it is something different. So much so in claiming that profits are guaranteed, being aware of normal trading profits requires knowledge of how the markets behave, the ability to read market conditions and an understanding of strategies if risk is measured – or misconfirmed. Immediately (along the lines of “95% trade success”), these are false assertions, it is a sign that the broker may be meticulous in other important areas and the platform should be given a wide position.
Terms and Conditions
Transparency is essential. Read the small publishers and be extremely careful with unnecessarily complicated procedures for withdrawals. The requirements regarding your initial deposit can be another source of controversy, for example if you are denied access. Deposit until a certain amount has been traded – so your funds are tied to the platform from the moment they are delivered. ‘Bonus’ CySec has attempted to prohibit the use of these terms by halting the use of bonuses. Non-CySec branded ‘deposit match’ is still free to use so T&C will always check.
cold call
These tend to fall into two categories, the first being where you are called out of the blue and invited to sign up on a specific platform, the second is when you are already linked to a platform and you receive a call. Cold calls (or emails) from a “senior broker” pointing you in the direction of a particular trade Reputable brokers don’t need cold calls Remember, “cold calls” can include emails in every unsolicited way. The pattern should be considered a “cold” contact and is treated with great suspicion.
sales funnel
You should also be clear about who you are dealing with. In some situations, you may visit what appears to be a real broker’s website, click the link to apply only to be redirected to another broker. ”The trade may require you to use only the recommended broker. These “funnel” sites are sometimes used by brokers with a bad reputation or work with them to lure visitors. (often using the misleading marketing mentioned above) A good broker will have some prior knowledge of its identity from the start.
Managed account
It is important for brokers to give you access to data and analytical tools to formulate your own strategy. (In fact, this is a sign of a great platform.) It is quite another matter for the broker to provide trading advice. If ‘over the counter’ you are betting on the house, if the ‘house’ is making trading decisions you are unlikely to make those decisions in your best interest. This “upsell” is often the most profitable for the broker and is often where traders lose the most. Traders are advised to deposit more than their means and to trade, on occasion large accounts are removed in hours. Huge increase in risk, always be responsible for your own trades.
price control
There has to be a fair and transparent standard with which brokers set prices, this standard should be something that happens in the real world, i.e. real-time market prices, if the broker reserves the right to set their own prices you can assume. that those numbers are skewed against you, in other words, deck loaded.
Scam Brokers and Unrecommended Operators
The brokers below have generated a lot of complaints both directly and on the forums, the disputes vary from over-selling and urging traders to over-trade to non-withdrawals and price manipulations. It’s little to argue with unregulated brokers, so it’s advisable that you look for a trusted binary options broker – especially regulated in your country if possible. Ubiquitous is a term to refer to any form of bad service, but it should be noted that many of these brokers may not have done anything dishonest or illegal. But has attracted higher than normal levels of complaints if in doubt trade elsewhere.
Instagram and Facebook
Beware of social media scams Once again binaries do not get form fast There are many accounts that promise to trade on your behalf and turn $2k into $8k in a week if these claims are true. The people behind them don’t need to show ads or register users – they just trade themselves.
Screenshots of successful trades are very easy to get, but these entrepreneurs are unlikely to bother trading – once you send them money, it disappears and you’ll never hear from them again. (unless they think they can deposit more money for you) Always choose your own broker and be responsible for your own trade – never let anyone trade on your behalf if you don’t understand binary options or don’t have time to trade. – Don’t trade at all, these scams often prey on the inexperienced.
What to do if you are scammed
Do you think you are a victim of a binary options scam?Read on to find out what you can do if you are scammed.There are several ways to help ensure that you do not fall victim to a scam. But the truth is that even if you follow all those tips there is still a possibility that you will be scammed, if what you do, do you sit down, do you give up in trading, no, you have to stand. High and watch yourself, trading is good, it’s rewarding and can lead to a life where you don’t have to go looking for work and punching the clock, you can’t give the action of a broker, signaling service, robot or guru. Banning you from that path, this article looks at what you can do if you think you have been scammed, it is possible that when problems arise you will not be able to take profits, you can restore your initial deposit. But it may take some time.
MyChargeBack.com is a company that specializes in helping victims of binary options fraud, they help claimants explain incidents to banks or credit card companies so they fully understand what happened. Some banks are not aware of binary trading and are reluctant to listen to MyChargeBack claims. Help in this situation They have a strong record of recovering from genuine claims.
If you still don’t need third-party help, here are the steps you can take:
- Document everything The first thing to do is record everything you can, including the broker or the SSP’s terms and conditions, a copy of any email/Skype/live chat you have with them confirming their deposit. You need earnings for your bonus and your trading history, whatever you do next this information will be demanded in order to gain satisfaction, what you do next will depend on the type of scam you fall into. victim
- Attempt to withdraw Broker won’t let me withdraw Contact the broker and try to figure out why they won’t withdraw The most common reason is that you didn’t submit the correct ID documents what international law requires and it’s a problem that is easy to fix Reasons Next most urgent why withdrawals are not allowed because of the bonus conditions and turnover requirements, if you don’t meet the conditions you will not be allowed to make any form of withdrawals which is why you want to keep track of the trading volume and All your turnover, if you didn’t get bonus in the first place, your documents will help you to prove it, good brokers will try to fix your problem, shady part will keep you out of trouble.
- Made your voice heard, the agent let him run around. If your recruiter lets you run around and won’t fix your problem, the next best path to satisfaction is to let the community know what’s going on, after all, it’s the squeaky wheels that make it. Get Grease You can do this by posting a detailed complaint in one of the forums here at Binaryoptions.net, when you do this please let the broker know and send them the link. He may not be interested in the sign of a shady broker. But when it comes to trustworthy brokers, they will want to fix your problem to avoid bad publicity, when posting complaints give as much detail as possible, simply saying the broker scammed you is not enough, proof of cheating is what. received results
- Contact their payment service provider, the broker is no help at all. At this point the chances are that you have been scammed and not just scammed. But suffering from miscommunication is quite high If you are not satisfied with the broker you will need to take more drastic measures If you deposited by credit card it may mean calling the card company and requesting a chargeback. Let them know that the initial charge was fraudulent and that the company in question did not send your callback request for best results. The Times Of Israel reports that victims of fraud can receive Full refund of the deposit, after contacting the financial institution that processed the payment with the broker, they withhold payment until the broker is satisfied with the claim.
- Contact regulators it’s time to call out the big guns The good thing about expanding binary options regulation is that there is an option for many traders who think they have been scammed you can contact regulators in Some cases can be challenging as many brokers are located offshore and hidden behind holding companies and virtual offices so do your homework, if a broker is regulated contact the body that oversees them if they are not. If the broker is regulated, they will have to deal with your issue to the satisfaction of all parties in order to meet their standards, if they are not regulated at least. You can be sure that at least they will have a hard time scamming people from your country.
- BOP. Shady brokers like to hire people who are good at deflecting questions and complaints, not accepting what they tell you. It can take time. But eventually you will get to talk to the right person or person and your case will be resolved.What is most likely to happen is a combination of your contact requests, forum complaints, and Charges with regulators will increase as one thing, the broker will give you your money back.
How to spot a trading strategy scam
The internet is full of ads, articles, companies, and individuals trying to give you the next trading strategy that will make you rich overnight, pause my friend, here are some tips to help you spot the scam.
A system or just a strategy?
First of all, a trading strategy will not help you to become a good trader, what you really need is a whole system, when you plan your trading it has to cover how you will enter the market, exit the market and how you will manage your money. This also needs to tell you under market conditions that you do all these things, that is, the system will tell you everything you need to know about how you will trade, the strategy on the other hand will tell you when to enter and. It may not tell you under what conditions it works best or badly, it may also not give you advice on position size or whether you can trade multiple assets at the same time – very important aspects of trading. EDIT In other words, a strategy may contain missing information that you need to be successful, we need a complete trading system… But marketers are so smart, they can easily call the products they sell “systems” to sound richer. But what is it? Here are several things to look out for that might make you unfamiliar with the product worth watching. will waste money
boxed system
A box system is one where you don’t get to know how a strategy works – it’s a solid “black box”. For example, a product could be a set of indicators or a service that tells you when to trade. But not why, this won’t make you a better trader because you don’t know what’s going on behind the scenes, if a service, product or signal stops working, you’re left with nothing, even if you make money on a product/service, you need to start from scratch. Again, make sure you buy something that explains how it works so that in the end you don’t become dependent on the product/service.
very high win rate
Is it possible to have a win rate? 90%?Of course it is possible to lose money with win rate. 90% stats are easily manipulated to tell partial truths or fabricate lies. Other popular tactics are saying things like “made $500 in a day!” So what actually isn’t telling you anything if that. is in $1 million account then making $500 is not that great and if they lost $3000 the day before they only made $500 today and bragging about it is quite small read the hidden meaning. What did you say? To understand its effectiveness, you need several bits of information: account size (capital), return percentage, amount risked per trade, amount of profit per trade, win/loss ratio, winners. Biggest, Biggest Losers, Average Winners of trades and the period when the strategy was tested/profitable.
There are also other indicators that can help you. But if you ask companies for this information and they can’t or won’t let them suspect you, you can basically get a sense of what the vulnerabilities and trends of the system are by looking at the statistics above. It has been tested over a long period of time and in all market conditions – downtrends, ranges, volatility and calm – it is not necessary to take profits in each of these environments. But at least it should be traded through all of them so you know that the system is profitable overall.. Often times marketers publish results during times when strategies are doing very well but this doesn’t really give you the idea of how good they are. How does the strategy or system work in the long run?
- Regarding statistics there are other things you need to consider, if the system is profitable then it depends entirely on trades, if you buy a product or service, will you trade all of them or not. He doesn’t trade all signals, if you don’t trade all signals, your personal results may differ significantly from general results of the service.
one direction only
Avoid systems that only trade in one direction, such as buying assets. But don’t sell in the short term, the market is high and low, you want to participate in the trend.
no trial period
You should be able to test the product and be able to cancel without hassle if the service isn’t for you, usually a quick search of trading forums on Google will reveal what others have shared about the product or service. Try no deal, don’t trust anyone, test it yourself, if they won’t let you, be careful.
A Final Word on Identifying Scams
The product or service should not be trusted by you, it should be shown to you behind the scenes so that you can eventually trade for yourself A good product always has customers as there are people who don’t want to work for themselves and there are new traders. There is always no reason to make all clients totally dependent on each other.Beware of statistics being thrown out.Ask yourself if the statistics are not telling you.Also if the statistics they give you are correct then you will have to trade all the signals to use them. Benefits and get typical results of the service Remember that past performance is not indicative of future trading results, that is the way to do your homework and make sure that the strategy/system/service/product depends on it. Long history and have proven themselves to be profitable in all market conditions, test products/systems/services before buying if they won’t let you try.
Case Study – JV Partner Marketer
In this section we will look at how you can avoid being scammed by Binary Options JV Affiliate Marketers. It’s not that difficult. But you need to let your emotions out and check things in a sensible manner as many scammers use greed/emotional fear to get your money, when you understand this you can save your time and money. Be quick with these shameless dolphins, some scams are funny in a silly way, while others do a really good job of luring you in with seemingly real people/systems/reviews, which you will later find the opposite in. As you look at the $0 balance, “Where did my money go!”
As you will see in many scam videos, all you have to do is “NO DEPOSIT” then these scams will no longer work, so the next time you see a similar video just know that they are. They support scam systems/marketers understand they need deposits, they fly in the night and even if they are not they are supporting scammers by nature of requiring you to deposit money with new brokers so just refuse to. Deposited and they disappeared, not like the same type of stories and promises over and over again to get you to sign up for their “free” system/bots…they are not free, you have to deposit and get the deposit. Those…remember limited time/fast money/never lose! / Just put money in your account = Don’t do it!
In the picture above you can see that many scam systems are most frequently connected to the same server, these JV Marketers have a lot of end-to-end scams due to very little maintenance, the reason why you see so many of them. is that after a few weeks of new story lines and becoming boring they will start producing another one and keep it fresh and new to avoid the wrath of their old scam complaints. If they keep it fresh they will avoid this along with the fact that most newbies will jump from one scam to another hoping that one of them will work which Nobody does because trading is a skill/profession, works and doesn’t deposit.
Case Study – Social Media Scams
Social media is the “perfect” platform for scammers and they are even more insidious and trustworthy unlike JV marketers where these people will talk to you directly when they think they are. He can’t take anything from you anymore or you’re no longer valuable to them, they will unfriend you in a heartbeat, one thing all of them is your money so look for them to ask. A deposit or registration that tells you about amazing profits and opportunities that will end up with empty money, videos such as those that apply to both “The Green Room” and “FB Wealth Group” will Pretend to be a trader/friend as they will just get your money through sign up or even try to get you to pay directly.
Also – if you see them talking about anything MLM related. They are trained to lure you in, so run the other way, these guys are not playing around and will say anything necessary to get you to sign up and invest, there are 45 minute long interviews of people who was scammed by both the “Green Room” and the “Wealth Group of FB” We named it Binary Options Horror Story because that is what is in all the details. If you are new to Binary Options read and fully absorb the warning signs above to see how they scam people out of. So their money doesn’t accrue to you, notice how they work directly with the broker which means they can contribute directly as well.
The scammers will repeat the common elements of wanting you to deposit or request money directly from there, you can tell them “no thanks” and make sure to unfriend them.