Thousands of fraudulent binary options brokers appear every year and it’s our mission to fight back. If you’ve been scammed by your Broker, please contact us as soon as possible. The sooner we confront them, the sooner we will be able to get your money back.

What are binary options?

Binary options are a type of financial product classified as an exotic option. Binary options trading may seem like a new speculative market, but they’ve existed since 1974. They were created by one of the largest derivatives markets globally, CBOE (Chicago Board Options Exchange). It wasn’t until 2008 that binary options became primarily available to the public, and many entities copied the original CBOE asset type listing.

Binary options are a type of option that allows you to guess whether the option expires in the money – that’s it. Some unregulated binary options brokers allow for guessing on out of the money outcomes. A simple yes or no bet is made, hence the name binary. Contemporary binary options have expiration times between a week to a few minutes, with the majority of modern binary options platforms specializing in under one-day expirations.

What Is a Binary Options Scam?

To put it simply, fraudulent groups and individuals can use binary options trading to exploit investors. The target gets sucked into a scheme purposefully designed to extract their funds without any chance of gains whatsoever. Sadly, these scams are widespread and frequent in this finance area, and even seasoned traders end up being a victim. 

There are a plethora of unregistered and illegitimate platforms which will promise money-making tips and get-rich-quick opportunities for a monthly fee. Of course, their advice is inaccurate and seldom profitable. In the end, their beneficiaries lose their money and they can’t get in contact with any of the personnel. 

These fraudsters have well-developed systems and they will use any means necessary in order to rob an unsuspicious investor. Con artists will present themselves as verified experts with unique insight into the market fluctuations. It is not uncommon that scammers will try to sell state-of-the-art software which can make amazing bets for their users. Quite often, these programs end up being malware. 

Commonly, scammers use official sites, message boards, and social media to promote themselves to lure their victims. Unsolicited calls and emails turn into aggressive pitches presenting a now-or-never investment opportunity. With a constant stream of information, it’s difficult to discern the real trading professional from the scam artist.