Binary options scams are multiplying in view of the growing popularity of this investment activity that continues to grow with retail traders. Given the success of binary options, some unscrupulous individuals do not hesitate to create companies and to partner with other scammers in order to scam traders and steal their money. Fortunately, financial regulators such as the CySEC are there to warn traders against this kind of scam. Today the CySEC strikes again and warns against the EveryOption and Option500 brokers!
The CySEC (Cyprus Securities and Exchange Commission) is a financial regulator. Based in Cyprus, its role is to oversee the financial markets, the activity of market participants and the various entities and companies that provide services related to financial markets. In other words, the CySEC closely monitors the activities of traders but also those of brokers in general (including binary options brokers). The CySEC is recognized as the financial regulator of reference at the European level although each country has its own financial markets regulator; the AMF (Financial Markets Authority) in France, the FCA (Financial Conduct Authority) in the United Kingdom, the CNMV (Comisión Nacional del Mercado de Valores) in Spain or the CONSOB (Commissione Nazionale per le Società e la Borsa) in Italy play the same role in their respective countries just like the regulator of the Cyprus markets, the CySEC.
EveryOption is a broker that is owned by the company Fundsaver Services Ltd. and claims to be based in Cyprus. However, the broker does not have any license or authorization from the CySEC regulator or other international financial regulators. The EveryOption broker has been the subject of a lot of comments and negative feedback online. The users of this broker complain about the cash withdrawal conditions with this broker and the false expectations that it gives. To withdraw money with this broker, it is absolutely necessary to trade a volume equivalent to 30 times the deposit amount plus the amount of the granted bonus.
What is certain is that the EveryOption broker promises its traders a lot of profits, easy to make and effortless high returns on investment. In fact, binary options trading requires a certain effort, such as the implementation of a strategy and a money management (risk management). However, the broker tends to hide this from its new traders. EveryOption offers deals that sound too good to be true, and the CySEC understood this and responded accordingly by issuing this warning against this dubious binary options broker.
Option500 is not a regulated binary options broker and its location remains a mystery. The broker scams traders and this is no secret, as witnessed by the many comments posted by online traders. There is virtually no reliable information available online on who is behind the pseudo of this binary options broker. Therefore, the CySEC advises traders to be cautious and absolutely avoid resorting to the trading services of Option500 when its ruthless representatives make contact with traders.
The CySEC regularly warns traders against binary options brokers such as EveryOption and Option500. These kinds of fraudulent brokers are commonplace in the trading industry. Such companies pass themselves off to traders as being serious and authorized by the financial regulators. Reality is quite different from the claims of these fraudulent brokers. They are not licensed at all and their sole purpose is to steal money from investors without the slightest remorse. These investors have at times been working so hard and have saved money all their lives just to find themselves scammed by these kinds of companies. Therefore, it is important to avoid them and follow the recommendations of the CySEC.
Unlike brokers such as EveryOption or Option500, there are obviously binary options brokers that are authorized and regulated by the financial authorities; these are brokers that have proven themselves and have obtained licenses from recognized authorities as an approval of their brokerage activities that they provide to traders. TopOption is an excellent example of a regulated broker; it is owned by the company Safecap Investment Ltd. which is regulated by more than ten different European financial regulators.
BonusBinaryOptions.net warns traders against scammers. It conveys the warning issued by the competent financial authorities with regard to the banned binary options brokers and it keeps traders informed of news and developments in the binary option industry. But that’s not all! Thanks to our website, please be aware that once you become a client with an authorized partner broker, you can benefit from an exclusively negotiated 100% bonus on deposit. For example, opening a TopOption account allows you to benefit from a 100% bonus on deposit while this broker does not normally offer any bonus on deposit to its new traders. Please also note that by joining one of our partner brokers through a link listed on our website, you will automatically be eligible for the BonusBinaryOptions.net guarantee and you will thus be covered by our team in case of problems encountered during your experience in the world of binary options.