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.

After knowing all this information and still you want to trade binary options then here is a list with the most reliable binary options brokers.

24option Review

Minimum deposit: 250 USD

Maximum deposit: 10,000 USD

Payout In the money: 70-85 %

Payout Out-Of-The-Money: 0-15 %

Minimum investment amount: 24 USD

Maximum investment amount: 75,000 USD

Expiry time: 60seconds, 15 Min, 30 Min, 1 Hr, 1 Day, Weekly, Monthly Read more

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

Iron Condor For Binary Options

Iron Condor is a good strategy to make income every month. When in the market is low volatility you bet that the price will fluctuate in a specific interval. Probability of success is very high, it is about 80%-90%.

But this strategy have several disadvantages:

  • you need to keep yours positions one month or more
  • you need to pay a lot of commissions
  • you need experience to manage the losing trades

Instead of that this is one of the most profitable options strategy. But what if you want to trade this strategy intraday. For that we can use Range Binary Options (Boundary Binary Options). Read more

Anyoption Review

Minimum deposit: 100 USD

Maximum deposit: 15 000 USD

Payout In the money: 65-71 %

Payout Out-Of-The-Money: 15 %

Minimum investment amount: 25 USD

Maximum investment amount: 3000 USD

Expiry time: Hourly, End of Day, Week, Month

Withdrawal time: 3-10 business days Read more

Free Binary Option eBooks

OptionBit eBook

OptionBit ebook includes professional trading advice about how to trade binary options and useful insider tips to help traders earn high returns on their trades.

To download OptionBit eBook for free please follow these steps:

1. Sign Up to OptionBit (it’s free and easy)

2. Make a minimum deposit (100$)

OptionBit also offers a demo account of $ 500. After you register write an email asking a demo account, and as soon as possible you will receive $ 500 virtual money.

Forex vs Binary Options

From the month of May, 2008, binary trading has been open to the masses in the United States.

Binary options were first used exclusively by the top-tier institutional and high net worth traders, because even they needed binary options.

Why? Binary options can be a potent tool to complement their usual trading. The simpler, shorter decision-making process allows even the top traders to establish positions much faster, with more clearly defined risk. Read more

Glossary

Binary Options or Digital Options

Trading options that pay out a pre-set and fixed amount if the underlying asset on which the option is based reaches the trader’s selected ‘direction’ (up or down compared with advertised value at the time of purchasing that option) at expiry time.

Call Option

An option that provides the holder with a fixed profit when the underlying asset is higher at expiry than the price level it was purchased at. Read more

OptionBit Review

Minimum deposit : 200 USD

Maximum deposit : 5 000 USD

Payout In the money : 75-91 %

Payout Out-Of-The-Money : 0 %

Minimum investment amount : 10 USD

Maximum investment amount : 5000 USD

Expiry time : 30 Min, 1 Hr, 24 Hr, 1 Week Read more