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 handle the situation. After the fact if you have been 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 deception so common?

When a new type of financial instrument or first trade emerges, a wide variety of businesses tend to get involved, it is a fact of life that some product providers will be more reliable than others, this is certainly true. Of binary options, it was 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. Take care and from any country over the internet, so it’s no surprise that thanks to better regulation, a strong online trader community and honest reviews, it’s now much easier to tell a scam from a broker. Legal, but just 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?

Is binary options a scam?

The term “scam” encompasses a wide range of behavior, from providing deceptive information to lure you to losing your account balance – and even dishonest trading advice. Likewise, a broker may not be technically deceived in behavior; It is only a service available on the platform. Some of the negative factors (such as highly unreliable uptime or failure to reimburse in a timely manner) mean this is a broker to avoid, so it’s a matter of doing your homework before you accept any platform. Any user feedback would be helpful. But always give such an opinion with suspicion – and never make a decision based on testimonials published on the broker’s website. Even traders forums can be problematic, look closely and you will often find that the forum is the website of a particular broker. Thorough reviews and comparative comparisons are the safest ways 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 your stuff. Reading is up to date.

Trusted broker in Thailand

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.

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: Prohibited List On the other hand, the United States, along with most other EU countries, consider binary options as a financial product depending on where they are located, so many platforms are regulated by regulators. Cyprus A platform’s regulatory status 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 services and compliance. transparent

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 quite a cracking thing. Unlike claiming to guarantee profits, being aware of normal trading profits requires knowledge of how the market behaves, the ability to read market conditions and an understanding of the strategy if risk is measured – or immediately misconfirmed ( Along the lines of “95% trade success”), these are false collateral, it is a sign that the broker may be less finicky in other key areas and the platform should be taking 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 since they are delivered. ‘Bonus’ CySec has attempted to suspend these types of agreements by halting the use of bonuses. Non-CySec branded ‘deposit match’ is still free to use, so T&C must 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 do not require cold calls. All forms of contact should be considered “cold” and 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 sign up, only to be redirected to another broker. The other option is “service.” 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 be exposed about its identity from the outset.

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 one 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 their 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.

The brokers below have generated numerous complaints both directly and on the forums, disputes varying from leverage and urging traders to over-trade to non-withdrawals and price adjustments. Little help from traders to contend with unregulated brokers, so it is advisable that you look for a reliable binary options broker – especially regulated in your country if possible “scam”. It has become widely used as a term to refer to any form of bad service, but it should be noted that many of these brokers may have anything dishonest or illegal. But it has attracted higher than normal levels of complaints if in doubt to trade elsewhere.

  • Banc de Binary
  • Beeoptions
  • Binaryinternational.com
  • Brokeragecapital.com
  • Bull option
  • OptionRally
  • World Selector
  • Safe24Option
  • TraderXP
  • Vault Options
  • NYStockOptions.com

Deception of Robots and Signals

These signal providers or robot services are scams or not recommended for other important reasons.

  • 650System
  • ATARAXIA 7
  • Binary-Option Robot
  • Blackrockbotr.com
  • Faunus analysis
  • FB Wealth Group
  • John Anthony
  • Lone Wolf Signal
  • Michael Freeman’s Autotrader
  • Oneclick Autotrader by Paul Applegarth
  • Binary Profit
  • Signal Index
  • TheBinarySignals.com
  • Green room
  • GCAD indicator from ITM Financial
  • Trading

Instagram and Facebook

Beware of social media scams, once again binaries don’t 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 – despite being genuine, these operators are unlikely to bother trading – once you send them money, it disappears and you. will not be contacted by them again. (unless they think they can deposit more money) 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 inexperienced people.

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. Be high and watch yourself, trading is a good thing, it is rewarding and can lead to a life where you don’t have to go to work and punch the clock, you can’t let the actions of a broker, signal service, robot or guru dissuade you. 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 work.

MyChargeBack.com is a company that specializes in helping victims of binary options fraud. They help the claimant explain the incident to the bank or credit card company so they fully understand what happened. Some banks are not aware of binary trading and are reluctant to listen to claims. MyChargeBack helps 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 SSP’s terms and conditions, a copy of the email/Skype/live chat you have with them confirming the deposit. Your turnover requirements for bonuses and your trading history Whatever you do next, this information will be demanded in order to be satisfied, 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 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 is required by international law and is a solvable problem. Simple, the next most pressing reason why withdrawals are not allowed is 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 withdrawal which is why you want to keep track of the volume. All your trades and turnover, if you didn’t get bonus in the first place, your documents will help you to prove it, good broker will try to fix your problem, shady part will put you out of trouble.
  • MAKE YOUR VOICE RECORDS Let me run around If your broker lets you run around and it won’t fix your problem, the next best route to satisfaction is to let the community know what’s going on. climb After all, it’s the squeaky wheels that get the grease. You can do this by posting a detailed complaint in one of the forums at Binaryoptions.net, when you do this please let the broker know and send them a link, they may not be interested. The mark 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 that scammed you is not enough, proof of cheating is what. received results
  • Contact their payment provider. The broker didn’t 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 processing the payment with the broker, they withhold payment until the broker is satisfied with the claim.
  • Contact the 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. Regulators can be challenging in some cases as many brokers are located offshore and hidden behind holding companies and virtual offices so do your homework. If they are not regulated, contact your country’s financial regulatory authority, 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 fully regulated. At least you can be sure that they will at least have a hard time scamming people from your country.
  • Boss. 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 scam trading strategy

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.

System or just 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, i.e. the system tells you everything you need to know about how you trade, the strategy on the other hand tells you when to enter. and may not tell you under what conditions it works best or not, it also may not give you advice on position size or whether you can trade multiple assets at the same time – very important aspects to Correction In other words, strategies may contain missing information that you need to be successful, we need a complete trading system… but marketers are so smart they can call the product they are selling a “system”. But what it is, here are several things to look out for that may leave you unfamiliar with the product likely to cost you 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 “Make $500 in a day!” So what? But that doesn’t tell you anything. At all if that is in $1 million account then making $500 is not that big and if they lost $3000 the day before they only made $500 today and bragging about it is quite small. Not saying anything. To understand performance, you need several bits of information: account size (capital), percentage return, amount risked per trade, amount of profit per trade, win/loss ratio. , Biggest Winners, 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 these bits of 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 should be tested over time and in all market conditions – downtrends, ranges, volatility and calm – there is no need 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, it depends entirely on trades, if you buy a product or service, will you trade all of them or not, among the problems many traders face when subscribing to signal services. is that they do not trade all signals, if you do not trade all signals, your personal results may differ significantly from the 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 both trends.

No trial period

You should be able to test the product and be able to cancel without hassle if the service isn’t right for you, typically a quick Google search of trading forums 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.

Last word for identifying a scam

A product or service shouldn’t 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 because there are people who don’t want to work for themselves and have traders. Always new There is no reason to make all clients totally dependent Beware of thrown out statistics Ask yourself if the statistics don’t tell you Also if the statistics they give you are correct then you will have to trade all signals for Take advantage and get service typical results Remember that past performance is not indicative of future results, that is how it pays to do your homework and make sure the strategy/system/service/product is up. Live with a long history and have proven themselves profitable in all market conditions, test products/systems/services before buying if they won’t let you try them.

Case Study – JV Affiliate Marketer

In this section we will look at how you can avoid being scammed by Binary Options JV Affiliate Marketers. 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. So quickly with these unscrupulous dolphins, some scams are hilarious in a silly way while others can be really good at luring you with seemingly real people/systems/opinions which later on you will find out what they are. Conversely, while you look at the $0 balance, where has my money gone!”

As you will see in many scam videos, all you have to do is “NO DEPOSIT” then these scams will no longer work, so next time you see a similar video just know that they are. They support scam systems/marketers understand they need deposits, they fly at 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 kind 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 most often see several scam systems connected on 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 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 scams. Share it with others. If they keep it fresh they will avoid this along with the fact that most newbies will jump from one scam to the next hoping that one of them will work which doesn’t. Who does it because trading is a skill/career, working and not depositing.

Case Study – Social Media Scam

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 just run the other way, these guys are not playing around and will say whatever is needed to get you to sign up and invest, there is a 45 minute long interview for the scammer. 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 come to you, noting how they work with direct brokers which means they can contribute directly as well, scammers repeat the common elements that require you to deposit or request money directly from there you. Be able to tell them “no thanks” and make sure to unfriend them.