Are you one of the traders who have already been victims of binary options scams? If so, please be aware that you are far from alone; instead, you are unfortunately one of many individuals who got ripped off by dishonest companies and websites. Sometimes there are fake brokers who pose as serious and regulated brokers, when in fact these are real ruthless crooks who do not hesitate to target both well-to-do and poor investors to enrich themselves even more.
The editing team of BonusBinaryOptions.net writes this article with the purpose of keeping both experienced and novice traders from falling in the traps of these binary options scammers! In this article, we will simply show you how to identify binary options scams and how to avoid getting ripped off by these malicious companies.
In most cases, binary options scams are similar to each other. Although we regularly publish on our blog black lists of binary options brokers and warnings issued in the websites of regulators, some risky binary options websites are not included in these lists, hence it is best to opt for regulated binary options brokers.
If an unknown binary options broker contacts you, first check out its website. If this website is promising you to get rich quickly or if the representative contacting you by telephone or e-mail also makes you promises of incredible gains, it is best to cut the conversation short and stay away from this broker and not use its services! Simply be realistic; do not expect that you will earn several thousand dollars on binary options in a matter of days with a deposit of only a few hundred dollars.
Many scamming brokers will offer you huge profits and promise you to get rich quickly. This is very likely a scam, thus never provide your complete banking details (bank card number + expiration date + cvv) to a representative of the broker. This data is confidential and should only be used by you when you are funding your binary options account!
Binary options scams are quite often massive; when a company seeks to defraud individuals, it will often do it in bulk by conducting heavy advertising all over the internet in order to acquire a maximum of individuals. Thus, it may seem relatively difficult to avoid a scam of such magnitude given the number of people who fall into the trap.
However thanks to BonusBinaryOptions.net, you can easily avoid these dishonest companies to which we are referring because our team has compiled a comparative chart of regulated binary options broker; these brokers are authorized to offer binary options trading to European traders and are licensed by financial regulators, which testifies to their reliability. These are simply the kind of brokers that you must opt for.
Among the binary options brokers we can list brokers such as 24option, OptionTime, TopOption and 24Winner. These four binary options brokers appear in the top rankings of the most regulated binary options brokers, thus they represent reliability and safety in terms of binary options trading. In fact, these brokers have many licenses from financial regulators in many countries. They are therefore regulated by the CySEC (the European regulator based in Cyprus), the AMF (Autorité des Marchés Financiers – France), the BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht – Germany), the CNMV (Comisión Nacional del Mercado de Valores – Spain), the CONSOB (Commissione Nazionale per le Società e la Borsa – Italy), the FCA (Financial Conduct Authority – United Kingdom.).
When a binary options broker receives a license from a financial regulator, it is approved by the latter which means that its practices are in perfect compliance with the local financial regulations. It should also be noted that regulated brokers provide security to traders because the funds that they deposit with a broker are directly placed on a segregated bank account that is separate from the corporate bank account of the broker. This allows the broker, among other things, to ensure its solvency towards traders and its ability to repay traders’ funds at any time regardless of the financial situation of the company.
It is very simple to find out whether a binary options broker is regulated; simply consult the register of agencies on the website of your local financial regulator. The following is the list of European financial regulators and their websites:
CySEC (Cyprus – European Union): http://www.cysec.gov.cy/
AMF (France): http://www.amf-france.org/
Register of financial agents (France): https://www.regafi.fr/
CNMV (Spain): https://www.cnmv.es/
CONSOB (Italy): http://www.consob.it/
FCA (United Kingdom): http://www.fca.org.uk/
The regulated binary options brokers OptionTime, TopOption and 24Winner belong to the same company “Safecap Investments Ltd”. By searching the name of the company on the website of the CySEC regulator, we can see that it is regulated by the CySEC and has the license # 092/08, hence the brokers that belong to it are authorized to provide their trading services to traders in the European territory.
Our website specializes in negotiating bonuses on deposit in the field of binary options trading. If we take the example of the binary options brokers mentioned in this article, opening a 24option account through one of the links in our website will give you the right to a 100% bonus on deposit, while this broker normally provides a maximum of 20% bonus on deposit to new traders. Likewise, upon opening a binary options account from our website with the brokers that belong to the company “Safecap Investments Ltd”, i.e. OptionTime, TopOption and 24Winner, you will be entitled to a 100% negotiated bonus on deposit, whereas the three brokers respectively offer 25%, 0% and 40% bonus on deposit to their new clients.
The bonuses on deposit that we have negotiated with binary options brokers are not the only advantage that we offer to our readers; in fact, when opening an account with one of the brokers featured in our website, the BonusBinaryOptions.net guarantee will be automatically granted to you. This is a protection that makes it possible to benefit from the support of our team in case you encounter any problem with your binary options broker.