Binary Option Scams
Are All Binary Option Brokers a Scam?
Most certainly not! It all comes down to the broker you are trusting with your money (or mis-trusting in some instances). Here at BinaryScore we complete comprehensive reviews and investigations of all binary options brokers in the market. We do the heavy-lifting so you don’t have to, but we also rely on the trading community to report information on scammers:
Binary Option Robots, Secret Systems and “Methods” (e.g. The Aussie Method, The Oxford Method)
These are a relatively new phenomenon in the binary options market. We are still putting together some detailed posts on this topic but our advice is to AVOID ALL OF THEM as 95%+ are scams designed to steal your money.
Either the software they give you will DELIBERATELY LOSE MONEY after a certain period of time or the scammers will have partnered with or created a FAKE BROKER where it is impossible to withdraw your money and they will stop answering your calls.
The Aussie Method – SCAM ALERT!
Who Are The Regulators?
Binary option brokers are supervised and regulated by the likes of ASIC (Australia), the FCA (UK) and the SEC & CFTC (USA). These are the most reputable regulatory bodies with the highest standards. Other (less-reputable) regulators include the MFSA in Malta, CySEC located in Cyprus, the FSB in South Africa, and NBS, CNB in the EU.
There are and endless list of Binary options brokers for a trader to choose from, but only a select few are fully regulated and trust-worthy. The unfortunate truth is that the majority of brokers are based out of countries with very relaxed regulations that allow organisations with a small amount of capital to start up Binary options brokerage, this means that traders are exposed to a brokers ‘business risk’ as well as your ‘investment risk’ when trading.
Imagine going to the bank and not being able to withdraw your money. Come to think of it, didn’t that happen recently in… Cyprus? You get our drift….
Anonymous Traders SCAM – give us a break!
How We Assess Broker Credibility?
ASIC Regulated Brokers
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2017 Binary Option Scams
Unfortunately, as there is so much money in Binary Options trading it has attracted all types of scammers and schemes designed to STEAL and ROB you of your capital. There is also strong evidence of involvement by international crime syndicates. Binary Options reached new levels of popularity in 2016 and this looks to continue into 2017. Scams are one area that we will focus on in detail into the new year.