Binary Options Scam

What to do if you are scammed by a binary options broker?

As we know, the growing popularity of binary options has not only attracted traders and investors alike, but also scammers and fraudulent binary options brokers. The most widespread scheme used among others is restricting a trader from withdrawing his investment or the profits he has earned.

If you think you have been scammed, follow our six steps:

  1. Stop sending money.
  2. Make print-screens of your entire activity on their website (for example your trades, deposits, withdrawal requests …).
  3. Try to be polite when you send them emails and talk with them only by email. On the phone only to see if your emails have reached the destination or use a soft to know when the recipient opens your email.
  4. With a normal binary options broker you will receive your money in 15 business days.
  5. After 15 business days if you don’t receive the money and they say to you that the money was transferred. Then ask them politely to scan the receipt and to send it to your email address.
  6. If they refuse to send to you the receipt maybe they don’t want to give you the money and for sure that is not a good broker to trade binary options.

If you want to start a dispute with them, then the following links may be useful for you:

http://www.actionfraud.police.uk/

http://www.nfib.police.uk/

http://www.finra.org/Investors/ProtectYourself/p118628

http://www.cysec.gov.cy/complaints_cifs_non_regulated_en.aspx

http://www.cmcc.org.cy/home.html

http://www.cftc.gov/ConsumerProtection/index.htm

http://www.amf-france.org/

http://www.complaints.com/

http://www.complaintsboard.com/

The biggest advice I can give to people thinking about binaries is this that they should manage their expectations and understand the risks.

Because to be honest binary options is first of all about the fun of trading (gambling). If you make money from it even better but do not except to become a millionaire from it.

What you must know about binary options bonuses!

There are two types of bonuses: good binary options bonuses or risky binary options bonuses.

In binary options industry all brokers offers bonuses if you are opening a new account. A bonus is always a good thing. But before accepting the bonus you should read carefully the bonus terms and conditions.

In my opinion a good bonus has the following characteristics:

  • you receive real money in your account
  • you can make a withdrawal, even if you lose the bonus

A risky bonus has the following characteristics: Read more