Legit binary trading companies

There are a few simple steps that you can take to ensure that you don't become the victim of a binary options fraud.

Firstly you need to ensure that any broker, robot software or signal service that you use are reputable. You can tell this from their licensing. Make sure they have cyprus securities and exchange commission (cysec), commodity futures trading commission (CFTC) or other recognised licensing. Check their online reviews, feedback and whether there is an undeniable history of unethical trading. Now for every genuine company, there could be as many as ten fake websites claiming to be the real deal. Many of them are websites set up to look like brokers with all the terminology, graphics, customer testimonials and social media profiles (which are all fake). What the thieves do is encourage you to sign-up to the trading platforms, make a minimum deposit of $250 and then that's it, your money is gone.

How to avoid online trading scams

Identifying the difference between a legit opportunity and a scam can be hard. Often these schemes are so convincing that they resemble real companies. There are differences, however, and by carrying out some research, you will be able to identify those trading brokers and services that are legitimate and those that you should avoid.

From the licensing to whether they offer a demo platform to carry out "practise trading" with virtual money, there are critical differences between the real thing and those that will leave a bitter taste and a big hole in your product. To make sure you get the best out of your trading experience it helps to know how to spot the difference.

This guide explains how to spot and avoid common online scams such as fake companies, binary options rip-offs and identify the legitimate brokers that you can trust.

Binary options scams are common because of the growth in online trading, making it lucrative to set up fraudulent websites, designed to look like legitimate brokerage firms.

It is advisable to verify brokers before setting up an account and investing. Check they are licenced and be warier of companies that do not offer an active demo account.

You can also research brokers via searching their name on google, check reviews and establish whether they have a good reputation or have been accused of unethical practices or scams.

A typical scam example

There are a few investment scams to be wary of if you want to trade binary options, some more common than others. Many of them are operated online while others take place over the phone. In many instances, the trader starts their search online which returns many results; if you type the term "binary options broker" into google, there are over a million search returns.

Now for every genuine company, there could be as many as ten fake websites claiming to be the real deal. Many of them are websites set up to look like brokers with all the terminology, graphics, customer testimonials and social media profiles (which are all fake). What the thieves do is encourage you to sign-up to the trading platforms, make a minimum deposit of $250 and then that's it, your money is gone.

In this example, there is no binary trading platform to use. Some brokers will go so far as to call you claiming to be a senior advisor and asking you to make a higher deposit. Now while it seems like they wouldn't get away with this for very long what they do is set up under multiple names so that they can scam lots of people in a short space of time.

Why binary scams exist

Like any scam or fraud activity, they exist because they are a method for dishonest people to make easy money. Since the introduction of binary trading, there have been people setting up fraudulent websites and conning people out of their money. As long as people are willing to part with their money, there will always be people that want to take it from you. Because the gains can be large with online trading people are willing to take high risk.

If the dishonest few want to make money quickly without any morals when it comes to ripping people off, they will use every trick in the book to make it happen. This particular industry is an easy target because all trading takes place online, is not always regulated and often people don't know how to spot the real thing from the fake.

Rogue binary options brokers even go so far as to ring people up offering them unbeatable deals if they make a deposit using a credit card or bank transfer, and guess what? Yes, you make your deposit never to see them again and, you lose money forever. Even worse, they use your personal information in identity theft scams, further causing harm.

How you can spot a scam

If you know what you are looking for, then it becomes much easier to spot the genuine companies from the investment scams. Ask yourself this though "does it look too good to be true?" if the answer is yes, then it probably is too good to be true. If someone is promising to return $1,000 in 5 minutes for doing nothing, then be wary and probe further.

Check out the credentials of the company. If you can't find the broker listed on any of the popular review sites or there is little or no evidence that they are a real company then the chances they aren't. Be wary of companies offering the ability of trading binary options using signal providers or management services. This sector of the industry is high risk.

There are also lots of binary options trading scams that have been uncovered already, like the famous "google trader scams". These will come up like a beacon when searched in google with lots of entries about them from disgruntled traders on various forums. Just typing the name into a search engine is often enough to discover if this particular options broker has been hitting the latest news headlines and is operating under false pretences.

Like any fake trading scam or fraudulent activity, they exist because they are a method for dishonest people to make money.

How to avoid being a victim

There are a few simple steps that you can take to ensure that you don't become the victim of a binary options fraud. Firstly you need to ensure that any broker, robot software or signal service that you use are reputable. You can tell this from their licensing. Make sure they have cyprus securities and exchange commission (cysec), commodity futures trading commission (CFTC) or other recognised licensing. Check their online reviews, feedback and whether there is an undeniable history of unethical trading.

The next step is to see whether they offer a free demo account. If you can sign up to a brokers platform and trade with a demo account before depositing any funds, this will give you a good idea as to whether it is a real broker or whether it is just a dummy website set up to take your money.

When it comes to phone calls that come from people claiming to be a senior adviser, then be very wary. If they are calling you with "a deal that is too good to miss", don't make any deposit. Calls like this are a common ruse, and they will ask you to make an investment that will disappear.

Now while there are risks and fraudulent websites out there, which you should avoid at all costs, this shouldn't deter you from trading the market. You need to ensure that you choose your broker wisely and that they are a licensed firm with an excellent online reputation so you dont pay the price for it later. For more help and advice on online scams or binary scams in general, please visit the resources below;

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LEGIT BINARY INVESTMENTS

LEGIT BINARY INVESTMENTS is a group of investors, traders, analyst and brokers, with valuable experience in the sphere of forex and crypto dedicated their time to research development. Anyone all over the world can become an investor. We provide investment vehicles to investors of all sizes interested in being part of the revolutionary forex,binary option, crypto and bitcoin mining world. We have studied the bitcoin marketplace very closely, as well as other digital currencies, and we have built bots with AI (artificial intelligence). We have created a database with all the trading volume available on digital currencies and which is updated daily, allowing the software to spot different patterns in price movement. It uses different strategies, and they are capable of adapting to any online trading platform. Join millions who have already discovered smarter strategies for investing. Join experienced traders and earn greatly

Binary options trading scams

Binary options trading scam: how it works

More and more people are sending us emails asking if the binary options trading sector is a scam in itself, as many horror stories have been shared lately on the internet. Whether it’s about binary options brokers, signals, or winning strategies, watch out for the big and sketchy world of this business.

In this article, you will learn what binary options are, some fraudulent practices in the industry, and how to report the crooks. How does the scam work?

Watch the video below to see in action the binary options scam exposed, plus must-see info:

Before everything, you need to understand exactly what binary options are, in simple words and in-depth. In simple words, the best way to explain the binary options trading sector is that it is very similar to the gambling industry, aka the sports gambling websites or casinos.

You can place a bet on just about anything that is publicly traded (oil, gold, money – see video above), depending on which binary options website you use. You can win sometimes, but there is no way a binary options website could ever guarantee you that you will win. Do you ever see a sports gambling website ‘guaranteeing’ you a win on a yankees – red sox or seahawks – giants game?

Given the analogy, beware of those binary options companies that pop-up on your computer screen featuring extremely long videos promising a guaranteed win if you join them on the spot. They typically feature some ‘successful’ binary options investor that invites you to come under his/her wing.

You are promised thousands of dollars a day, and all you have to do is to join their program (which, of course, comes with a deposit towards them first). If you join, little do you know that the fine print mentions ‘results vary’ or ‘no guaranteed win’, unlike the video.

All these wonder-binary option trading systems are sometimes advertised under multiple names, with fake testimonials. They lure you in and before you know it you are out your initial deposit, say $200. A few days later, you get a phone call from a “senior broker” asking you to invest $7,500.

Feel free to type in the comments section at the end of this article questionable binary options brokers that you came across.

Binary options trading scam: how to avoid

The first recommendation is that you shouldn’t gamble on binary options trading, but again, it’s gambling. A lot of people think that they are good at it. Many even think they are very good, even when they lose.

They always find the wrong reason for their lost bet and start over again, as if they would learn from the lesson of the lost bet. The binary options trading industry is so popular because has an aura of being more respectable than the sports gambling sector since it represents itself as offering a form of investing.

At the end of the day, they are simply gambling sites. When you become a binary options addict it doesn’t sound as bad as a casino addict, does it? You don’t even know you are one.

Research the binary options broker very well, as review websites only give generic information about the dealers. Check to see if the broker has a license from the CFTC, cysec, ASIC, FCA, bafin, or another government regulator. On the other hand, it is always a red flag when he regularly calls you to deposit more money.

Last but not least, be wary of robots that ask you to make a deposit, before you can see the settings.

Binary options trading scam: how to report

Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the federal trade commission using the link below:

What is A binary option

In more complicated verbiage, a binary option is a financial option in which the payoff is either some fixed monetary amount or nothing at all.

While binary options are used in a theoretical framework as the building block for asset pricing and financial derivatives (a binary option maps to the cumulative distribution function of the risk-neutral distribution), they have been exploited by fraudulent operations as many binary option outlets (outside regulated markets) have been shown to be scams.

The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option.

The cash-or-nothing binary option pays some fixed amount of cash if the option expires in-the-money while the asset-or-nothing pays the value of the underlying security. They are also called all-or-nothing options, digital options (more common in forex/interest rate markets), and fixed return options (fros) (on the american stock exchange ).

Though binary options sometimes trade on regulated exchanges, they are generally unregulated, trading on the internet, and prone to fraud. The U.S. Securities and exchange commission (SEC) and commodity futures trading commission (CFTC) have issued a joint warning to american investors regarding unregulated binary options. And have forced a major operator, banc de binary, to cease operations in the US and pay back all customer losses.

Many binary options “brokers” have been exposed as questionable operations. With such binary option brokers, there is no real brokerage; the customer is betting against the broker, who is acting as a bucket shop. Manipulation of price data to cause customers to lose is common. Withdrawals are regularly stalled or refused by such operations.

How to protect yourself more

If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the scam detector newsletter here. You’ll receive periodical emails and we promise not to spam. Last but not least, use the comments section below to expose other scammers.

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Binary.Com review

Binary.Com is an online trading platform that allows you to trade binary options 24/7, even on weekends. Binary.Com was established in 1999 under the brand name betonmarkets.Com before rebranding to binary.Com nearly 10 years later.

Binary.Com is owned by a company called binary group LTD. Binary.Com has local offices in malaysia, malta, paraguay, and the UAE. With over 1,000,000 registered users and over 20 transactions per second, binary.Com is one of the oldest and most respected names in the binary options industry.

But is binary.Com right for you? Can this broker be trusted? In this binary.Com review, I'm going to tell you everything you need to know.

Binary.Com trading platforms

In order to cater to the needs of both beginners and advanced traders, binary.Com has several different trading platforms you can choose from.

Beginner platforms

For beginners, you have the option of using their deriv platform or smarttrader. Both of these platforms are custom-built and specifically designed for binary options trading in a simple and easy-to-use interface. With both deriv and smarttrader, you have several different trade types to choose from including:

High/low

Rise/fall

Touch/no touch

A nice feature that binary.Com has is the ability to set your own expiry time, ranging anywhere from 1 day up to 1 year.

Advanced platforms

For the advanced trader, you can choose between metatrader 5 and binary webtrader.

Metatrader 5 is a multi-asset trading platform that is recognized as the global standard. With metatrader 5, you can trade FX, cfds, and binary options with 1 powerful platform.

Binary webtrader is an advanced binary options trading interface that allows you to monitor the movements of your favorite assets and markets simultaneously. With it's full-screen interface, you can arrange all of your essential charts, asset index, historical data, and market movements however you see fit. This platform is available in 13 different languages as well.

Binary.Com also has an auto-trading tool that allows you to automate your trading strategies using a simple drad-and-drop bot creation tool.

Payouts

Binary.Com has some of the best payouts among binary options brokers. The profit you make on successful trades will depend on the type of trade, the expiry, and the asset. However, you can achieve returns above 100% on rise/fall trades and as high as 1,000% on high/low and touch/no-touch trades.

Financial instruments

Binary options - binary options are the simplest type of contract you can trade on binary.Com this type of option trading offers a fixed payout based on a simple yes or no proposition.

Lookbacks - A lookback is a type of trading contract that has a payout that depends on the optimum low or high achieved by the market. This type of option allows you to "look back" over time to determine the payout.

Cfds - A CFD (contract for difference) is a type of financial derivative that allows you to trade on the movement of an underlying asset without actually owning the asset itself. Cfds are a complex financial instrument and it does carry a high level of risk due to its leverage.

Forex - trading FX allows you to buy, sell, and exchange currency pairs on the global market.

Account types

Demo account

Binary.Com offers a free demo account where you can practice trading with virtual money. This allows you to sharpen your trading skills and test new strategies without risking real money. Demo accounts are funded with $10,000 in virtual funds for you to practice with.

Real account

You can open a live trading account with binary.Com with an initial investment as low as $5, which is quite a bit lower than most binary options brokers. A real account gives you access to the beginner platforms, the advanced platforms (including metatrader 5), as well as their mobile app for on-the-go trading.

Regulation

Binary.Com is a licensed and regulated broker with over 1,000,000 traders globally. To comply with regulations around the world, this broker holds multiple licenses from different regulatory bodies.

In europe, binary.Com operates under the company name binary investments ltd and is regulated as a category 3 investment services provider by the MFSA (malta financial services authority) with license no. IS/70156.

For clients outside of the EU, USA, canada, and hong kong, binary.Com operates under a company called binary (SVG) LLC. This company is located in st. Vincent and the grenadines under company number 252999 BC 2019.

For clients that want to open a FX or CFD metatrader 5 account, binary.Com is regulated by the VSC (vanuatu financial services commission), british virgin islands financial services commission, and labuan financial services authority.

Mobile trading

Binary.Com offers a binary trading app called binary tick trade, which allows you to trade binary options on the go. With the mobile app, you can execute trades, check your account status, and deposit funds just like you can with their web platform. The binary tick trade app is available for ios and android. You can download this application from the apple store or from the google playstore.

Assets

Binary.Com has 58 different assets to trade including stocks, commodities, currency pairs, and indices. This broker doesn't offer as many assets to trade as other brokers, but it's still enough for most traders.

Commodities - gold, palladium, platinum, silver, and oil

Currency pairs - all the major pairs including EUR/USD, GBP/USD, EUR/CAD, AUD/JPY, USD/CHF, and many more.

Indices - hong kong index, euro 50 index, UK index, US index, wall street index, and more.

Synthetic indices - volatility 10 index, volatility 75 index, bear market index, bull market index, and more.

Deposits and withdrawals

Binary.Com offers a variety of payment methods to add money to your account.

Wire transfer

For bank transfers, the minimum deposit and withdrawal amount is $500. The maximum deposit and withdrawal amount is $100,000. The currencies accepted include USD, GBP, EUR, and AUD. The processing time for standard bank transfers is 1 working day. If you're using an internet bank transfer, deposits can take as little as 15 minutes. If you're using paytrust, deposits are instant.

Credit cards

For credit and debit cards, binary.Com accepts visa, mastercard, and maestro. The currencies accepted for credit cards include USD, GBP, EUR, and AUD. The minimum deposit and withdrawal amount is $10, while the maximum deposit and withdrawal amount is $10,000. Deposits are processed instantly and withdrawals can take up to 1 working day. It should be noted that mastercard and maestro withdrawals are only available for UK clients.

E-wallets

Binary.Com accepts all major E-wallets including fasapay, perfect money, skrill, neteller, webmoney, QIWI, paysafe card, jeton, iwallet, STICPAY, and airtm. The minimum deposit and withdrawal using E-wallets is $5, but the maximum amount will vary depending on which e-wallet you use. With E-wallets, your deposits are instant and the withdrawal processing time is $1.

Cryptocurrency

Binary.Com accepts several different cryptocurrencies as a form of payment including ETH (ethereum), LTC (litecoin), UST (tether), and BTC (bitcoin).

Why choose binary.Com as your broker?

Sharp prices - binary.Com's patented pricing technology gives you the same return rates as traders in the interbank market. No hidden fees or commissions.

Flexible trades - with binary.Com you have a lot of flexibility with your trades. You have a variety of trade types, the ability to choose your own expiry time, and the option to select your own payout from $1 to $50,00.

Controlled risk - if you use binary.Com as a broker, you'll understand the risk and reward of each trade before you purchase a contract. You have the ability to sell your option before expiry to keep any profit you've earned or to minimize your loss.

Safety and security - binary.Com has been a trusted broker since they originally launched their platform in 2000. They are licensed and regulated by multiple agencies including the malta financial services authority, vanuatu financial services commission, british virgin islands financial services, and labuan financial services authority. All funds deposited are segregated into separate bank accounts to keep your money safe and secure.

Reputation - binary.Com has over 2 billion dollars worth of trades to date. They've won numerous awards throughout the years including:

Best trading platform in asia - 2018 global brands magazine

Best binary company in asia pacific - 2018 global banking & finance awards

Best binary options broker - 2017 online personal wealth awards

Best fixed-odds firm - 2012 global banking and finance review

Best fixed-odds broker silver award - 2010 trade2win

Customer support

For your convenience, the binary.Com website is available in 9 different languages including english, spanish, french, polish, chinese, and italian. As for customer support, you can use their contact form to request help by email or you can call their toll free phone number (+44 800 011 9847). Unfortunately, the binary.Com customer service team does not offer live chat support, which is a disadvantage for some.

Final thoughts

In my honest opinion, binary.Com is one of the top binary option brokers in the industry. Their platform offers excellent payouts, mobile trading, multiple trade types, and a variety of payment methods to fund your account. Binary.Com is simple enough to use for beginners with minimal trading experience, while also offering enough features to satisfy even the most advanced option traders. And most importantly, binary.Com is licensed and regulation by multiple regulatory agencies.

* the products offered on the binary.Com website include binary options, contracts for difference ("cfds") and other complex derivatives. Trading binary options may not be suitable for everyone. Trading cfds carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, the products offered on the website may not be suitable for all investors because of the risk of losing all of your invested capital. You should never invest money that you cannot afford to lose, and never trade with borrowed money. Before trading in the complex products offered, please be sure to understand the risks involved.

Robert wolfe is the founder and chief editor of impact investing collaborative. Robert is an expert trader with over 10 years of experience trading binary options, forex, and cfds. He prides himself in providing accurate and in-depth reviews in order to help others find a trading platform that fits their needs. When robert isn’t actively trading or managing impact investing collaborative, he enjoys spending time with his 3 kids, playing golf, and spending time outdoors.

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading cfds. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Binary options scams list – see which brokers are scams

Updated on: 6 january 2020

Written by: jonathan clarkson

The harsh reality is that there are multiple binary options brokers that are running a scam. There are various ways in which a binary options broker could be doing this, including non-payment of legitimately earned money, fraudulently awarded bonuses and claims made by the broker that are simply not true.

Below you’ll find a list of binary options scams that you should 100% avoid when you come across them:

Update: currently the most trusted broker in the business is IQ option. It’s in the business for several years now and has multiple licenses in various reputable jurisdictions. So, if you want to go safe, then go IQ option.

New: cryptocurrencies are the market that makes most of the money today. For this reason we have looked into completely legitimate and safe crypto trading bots and have found that videforex is the most reputable one where you can make profits up to even 20% per day.

However, since IQ option does not accept US traders, US traders can check out videforex instead, which is an equally reputable broker with great services and fast withdrawals.

SCAM BINARY OPTIONS BROKERS LIST

Globaltrader365

Safe24options

Sycamore options

Binary international

Cedar finance

Vipbinary

EZ binary

NOT RECOMMENDED BINARY OPTIONS SIGNALS LIST

650system

Action binary

ATARAXIA 7

Auto binary bot scam

Autobinarysignals.Com

Binaryoptions-live-signals.Com

Binaryoptionbot 2.0

Binaryoptionbox.Com

Binary-options-robot

Blackrockbotr.Com

Brokersignals.Com

Faunus analytics

FB wealth group

Ifollow signals

Legal insider bot

Lone wolf signals

Paul applegarth’s oneclick autotrader

Profit binary

Profit in 60 seconds

Signal index

Thebinarysignals.Com

The green room

The GCAD indicator from ITM financial

Updownsignals.Com

Zulutrade

Globaltrader365 – you can usually know if a broker is suspicious just by their unprofessional name. Globaltrader365 is a name one would choose randomly and quickly when creating a new get-rich-quick scheme and scam.

Based on several real trader reviews on multiple forums the modus operandi of this broker is to manipulate people into depositing very large sums of money above $5,000+ claiming that they will then reveal some magic winning secrets. Once the money is deposited, no one will reply to your emails anymore or answer your phone calls. Your money will be gone.

Globaltrader365 is a SCAM.

Safe24options – this broker appears to be ripping off the trust and name of the broker 24option, which is a legitimate broker licensed in the european union. Safe24options and 24option are NOT the same company.

The most common complaint about this broker is complete non-payment regardless of the amount. Usually once you register a customer service representative will approach you and make all kinds of wild claims and promises that if you deposit a very large amount he’ll show you an unknown winning secret. Once you deposit, you’ll never hear from him again.

Safe24options is a SCAM.

Sycamore options – there are rumors according to which sycamore options is being run by the same company as traderxp, another binary options scam. It appears that after the large negative publicity, traderxp simply decided to change its name and operate under a new scam.

Sycamore options is in our opinion one of the worst binary options scams as there have been reports of the broker fraudulently charging people’s credit cards. One trader reported on a popular binary options forum that after a deposit of $200 the broker ninja-withdrew an additional $800 in 4 incremental payments without the trader’s permission. The trader was refused any compensation.

Do NOT register at sycamore options it’s a SCAM.

Binary international – there is not much information available about this binary options broker. This does not necessarily mean that this broker is a scam however the fact that it’s extremely hard to find any information about the company running this broker is suspicious.

The general rule of thumb when registering at binary options brokers is that you should avoid anything that appears suspicious. You should trust your gut feeling if something appears off. You might be wrong in certain cases but it’s not worth taking the risk of registering at a potential scam.

Binary international might not be a scam but it looks suspicious as it’s difficult to see what company runs this broker.

Cedar finance – cedar finance might not necessarily be a scam however the way the company owners promoted this broker in the past resulted in them being blacklisted by multiple online trading websites and forums.

Cedar finance is perhaps known as one of the largest spammers in the business. In the past, they were ranking for a huge number of “make money online” keywords in google and promoted a massive number of fake video testimonials from supposed “clients”.

While they might not be scamming people directly (not paying out winnings etc.) they do seem to be very happy about misleading random people into believing that with binary options “you can turn $200 into $1,000 in 60 seconds”.

Due to their predatory nature and aggressive and dishonest marketing we do not recommend cedar finance as a suitable binary options broker even though they don’t seem to be a scam.

Vipbinary – VIP binary is another broker that does not necessarily appear to be a scam but still managed to generate a lot of negative feedback from losing traders. While the broker might be legit, we believe you should not risk and register there considering that there are plenty of reliable alternatives out there.

Vipbinary also engages in dishonest and manipulative advertisement tactics promising traders massive winnings if they just deposit $1,000 more into their accounts. While traders doing this might appear to be dumb (I mean, why would you listen to a BROKER telling you to invest MORE money?) it’s sneaky and shady to manipulate these people into losing their money.

Vipbinary is a suspicious broker you should avoid.

EZ binary – EZ binary is a broker that appears to be piggybacking the brand and trademark of eztrader. Eztrader is a legit and fully EU regulated binary options broker that should not be confused by EZ binary. The two brokers are owned by two completely different companies not related to each other.

The fact that EZ binary is stealing the brand value of another broker in order to fool people into believing that they are trading at a different broker means that EZ binary is a scam.

How do we decide if a binary options broker is a scam?

One of the best ways to decide if a binary options broker is a scam or not is to look out for real trader reviews at reputable forex or binary options websites. One of the most important forums to look for such information is forexpeacearmy.Com that regularly has real user feedback posted on brokers.

If a binary options broker gets too much negative feedback related to issues such as non-payment of withdrawals, fraudulent claims and aggressive marketing practices then the broker will automatically land on our scam list.

Something that we genuinely don’t like is brokers that outright manipulate and fool their clients into depositing massive amounts of money claiming that after they do so the broker will tell them some hidden secret about making money online.

Binary options is not magic and you cannot make money using binary options in just 60 seconds by making random trades. You can only make money in binary options if you put in a great deal of effort into research and execution.

Anyone, be it a broker or an informational website, who promises you “guaranteed wins in 60 seconds” is lying and profiting from you being stupid if you buy into it. So, any brokers that promise “massive wins without effort” will land in our scam list even though they aren’t necessarily doing anything flat out scammy.

We are also suspicious towards binary options brokers that are completely new and appear to be mysterious and obscure. If you see a broker and can’t verify the company behind it and genuinely have no clue who the people running it are then you better stay away.

Our binary options scams list is constantly growing based on the feedback and experiences we get. Check back later if you want to find out more information about scam binary options brokers.

If you want to trade at genuine brokers then check out our legit binary options brokers page. On that page we listed the broker we now for sure are legitimate and have no history of scamming their traders.

Right now the broker with the most licenses and the best reputation in the business is 24option. Check out the linked review in order to find out exactly why this broker is legit.

Legit binary trading companies

Written by on march 12, 2015

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How to avoid online trading scams

This guide explains how to spot and avoid common online scams such as fake companies, binary options rip-offs and identify the legitimate brokers that you can trust.

Binary options scams are common because of the growth in online trading, making it lucrative to set up fraudulent websites, designed to look like legitimate brokerage firms.

It is advisable to verify brokers before setting up an account and investing. Check they are licenced and be warier of companies that do not offer an active demo account.

You can also research brokers via searching their name on google, check reviews and establish whether they have a good reputation or have been accused of unethical practices or scams.

A typical scam example

Why binary scams exist

How you can spot a scam

Like any fake trading scam or fraudulent activity, they exist because they are a method for dishonest people to make money.

How to avoid being a victim

Best cryptocurrency brokers for 2021

Daniel ‘harris’ major

I have tested 40+ crypto brokers. You can find the best cryptocurrency brokers below. This is by far the easiest way to get started with cryptocurrencies.

Cryptocurrency trading has become really popular in the past years. It’s growing more ever year.

Many big trading brokers have already added some of these cryptocurrencies. Everybody can sign up and start trading bitcoin or other crypto coins. This is the easiest and probably the simplest way to invest in cryptocurrency.

After trying out most brokers, here are the best cryptocurrency brokers:

Best cryptocurrency brokers (non-US traders only)

Plus500 – top rated trading platform

Plus500 is a big name in the trading industry. They have a really low minimum deposit requirement and a great trading site.

Buy/sell cfds on bitcoin in addition to buying stocks, commodities, forex etc (traded only through cfds). Plus500 is the most complete trading platform.

Trade cfds on bitcoin & many other cryptos

Minimum deposit is only $100

Regulated and trusted platform

Very fast signup process

Live chat

Many payment methods (even paypal)

You cannot withdraw any cryptocurrency

You have to complete a questionnaire, upon sign up

Plus500 disclaimer: 76.4% of retail CFD accounts lose money.

IQ option – lowest minimum deposit ($10)

If you don’t want to make a huge initial investment, then IQ option is the best broker for you. The minimum deposit requirement is only $10. This is by far the lowest in the industry.

You can trade many cryptocurrencies

Minimum deposit is only $10

Best trading platform

Multiple account currencies

Free demo account

Regulated by CYSEC (#247/14)

Etoro – top crypto broker

Etoro is a really popular trading site. They have been around since 2006. Etoro is regulated by CYSEC, FCA and ASIC.

Buy/sell bitcoin on etoro in addition to buying stocks, commodities, forex etc. Etoro is the most complete trading platform.

Trade bitcoin & many other cryptos

Minimum deposit is $200

Regulated and trusted platform

Australian traders are also accepted

Great support team

Many payment methods (even paypal)

You cannot withdraw any cryptocurrency

You have to complete a questionnaire, upon sign up

Etoro disclaimer: 71% of retail CFD accounts lose money.

Highlow – best all-round crypto broker

Due to regulation highlow stopped accepting traders from the EU and UK.

Highlow is an australian trading broker (AFSL no.364264). What I like most about this broker is the intuitive platform. It is so easy to use. Especially new traders will like the clean layout.

I’ve been using highlow for a few years now and I never had a problem. Highlow publishes their number of trades on the homepage. There are millions of trades on this broker each month.

I use the main platform which is web based. This means, that you don’t have to download any software. This platform is stable and safe (they use SSL).

I have also tried the ios app and the android app. They are great, but I just don’t like trading on smartphones in general.

The payouts on highlow are amazing (up to 200%, which is more than on other brokers).

Highlow is a great broker for cryptocurrencies (but only if you are not from EU,UK, US). They have a good reputation, great support team and awesome promotions for new traders.

Trade bitcoin & other cryptos

Minimum deposit is only $50

Regulated and trusted platform

Fastest signup process (no questionnaires)

Multiple account currencies

Free demo account (no registration needed)

Nadex – US traders welcome

Nadex is a CFTC regulated broker. In fact, this is probably the only US broker that has this regulation.

Only US traders are allowed on nadex. Non-US traders check out the next broker.

Update OCTOBER 2019: looks like nadex removed crypto trading. After contacting them I found out that they will add it back soon. Register on nadex now and get updated when they add it.

Recently, nadex started offering bitcoin trading.

Trade bitcoin, forex or binary options

Minimum deposit is $250

CFTC regulated broker

Great support team

Many payment methods (even paypal)

Crypto brokers with most cryptocurrencies

Here are the most popular cryptocurrencies offered by cryptocurrency brokers:

Etoro – bitcoin, ethereum, litecoin, dash, ethereum classic, NEO and ripple.

Plus500 – bitcoin, ethereum, litecoin, bitcoin cash, ripple, IOTA.

Avatrade – bitcoin, ethereum, ethereum classic, ripple, dash, bitcoin cash litecoin, monero and NEO.

Lowest minimum deposit brokers

These are the best brokers with low minimum deposit requirements:

Etoro – $200

Plus500 – $100

Avatrade – $100

This is really important because the crypto market itself is unregulated. Depositing on a regulated broker means that your money is safe.

We’ve also looked at the support team and the payment methods. You can deposit easily using multiple payment methods on the brokers below.

Top rated brokers that have cryptocurrencies

While we are all familiar with the broad definition of a broker, is there something more to it when it comes to cryptocurrencies?

Simply put, a cryptocurrency broker refers to a website that traders will visit to trade cryptocurrencies at a set price. In many ways, they are similar to forex brokers whose services are a lot more familiar to the general public.

Etoro disclaimer: 71% of retail CFD accounts lose money.

You still can’t decide which broker is best for you?

How to choose your cryptocurrency broker

Is leverage really necessary? Cryptocurrency markets are volatile in nature with prices fluctuating immensely thereby generating high profits even in the absence of leverage. But for some traders, the desire for more earnings justifies the use of leverage.

Before choosing your broker, settle yourself on whether the already immense profits that come from a cryptocurrency market are enough for you or you would like to use leverage to enhance them even further, bearing in mind, of course, that will also significantly increase the risk factor to your funds.

Negative balance protection: it is always advisable to trade with a broker that affords the negative balance protection facility. That way, you will never be at risk of losing more than what you invested in case you sustain very heavy losses.

How suitable is the required capital for you? This is another subjective part to your decision. Do you prefer trading with a small capital or bigger one to help you zero in on bigger returns? Find out what size trades your broker is offering before you open an account.

Narrow spreads for the win: let us be honest, it is only fair that your broker gets a cut from the money you generated having provided you with the essential facilities for it and all. But let us be honest, you definitely want every last dime for yourself.

A spread refers to the difference between the buying price and selling price of a trade and it varies with each broker. The spread is what counts as fees for your broker so the smaller it is, the lower the cost will be on your part.

Lets go into what aspects you as a trader must consider when choosing a broker to trade cryptocurrencies.

Which cryptocurrencies are you interested in trading?

Make sure you have decided on which cryptocurrencies you want to trade in before signing up with your broker.

If your choice is a prominent cryptocurrency like bitcoin (official site), litecoin (official site), or ethereum(official site), there will be a relatively broad availability of brokers that have trading options for those. However, less prevalent examples like monero, IOTA, or zcash may be a little harder to come by.

So study the cryptocurrencies being offered by a broker before you sign up for an account.

Pros and cons of cryptocurrency brokers

Here are some features that these broker have or don’t:
pros

Signup up with a crypto broker is probably the fastest way to get started with cryptocurrency trading

If you are less tech-savvy then a broker is safer for you

You can start buying cryptocurrency while traditional exchanges don’t always accept this payment method

Most of the time you can’t withdraw cryptocurrencies from a broker. You have to exchange it back to fiat money (USD/EUR etc.)

Cryptocurrency brokers – what to look for

Here are some of the more understated details about your cryptocurrency broker that could make your trading experiences so much more efficient and successful.

1. What are the weekend hours like?

This is a key detail that distinguishes cryptocurrencies from other prominent trading markets like forex, futures, and equity. Cryptocurrency brokers operate during the weekends as well.

There is virtually no difference in purchasing bitcoin at the end of the week as opposed to the middle of the week during peak hours.

But there is a catch. While digital currency exchanges are available during the weekend, your broker may not (why is the stock market closed on the weekend?). So in effect, if there is considerable movement within your relevant cryptocurrency market during a weekend when your broker is not operating, you may not have the ability to respond in any way.

2. How is it hedging?

Your broker is probably not keen on revealing if it is hedging cryptocurrency traders but it is important information for you to know.

Why is it so important for you to know?

Because, as a trader, you want to be absolutely in the clear regarding the policies for risk management being followed by your broker. Let us not forget that cryptocurrency markets are extremely volatile and an unhedged broker is more easily prone to major losses incurred by its clients. Naturally, those costs will warrant compensation via fatter spreads and additional costs for traders. It will be best to sign up with a broker that will not withhold the relevant information from you.

More great features you could be interested in

Commissions and trading on margin – an important thing to note while trading cryptocurrencies is that their prices tend to be more similar to equities than they are to real currencies. So your broker could be charging you commissions in addition to a wide spread on each trade. That, of course, raises the cost probably a bit much for your liking.

Another similarity with equities is that the margin conditions with cryptocurrencies are significantly more than they are with forex or cfds. Consequently, leverage is usually up to 10x. How considerable the margin rate will be for traders is down to what trading strategies and risk management they subscribe to.

Authenticity of market data – aside from merely evaluating how it influences spreads, market data for cryptocurrency CFD prices can be a good indicator of how the quality of the product will be in the future.

One of the more recent examples of this is BTC-e which was an immensely popular platform for trading bitcoin before it was shut down by feds. BTC-e was the first bitcoin exchange to incorporate forex trades and so made their exchange accessible via MT4 and supplied cryptocurrency liquidity for brokers.

But once it was shut down, every broker that depended squarely upon BTC-e was left with no hedging options or market data to put a price on its crypto cfds.

Are short sales available? For many traders, shorting is a crucial strategy option, the lack of which can be a deal breaker with a potential broker. Many brokers tend to offer ‘long’ only since there are only a few hedging solutions when opening short trades.

As you see, investing in cryptocurrencies can be a truly lucrative venture for you but only if you get it right.

And a lot of that is down to which broker you decide to trade with.

Ready to start trading?

Trade with the cryptocurrency brokers listed above to make sure that your money is safe, you pick a broker with a stellar reputation and you keep the fees low. Excel at trading bitcoin by creating your own trading strategy.

These cryptocurrency brokers make it really easy to trade bitcoin and other coins. You don’t have to be a trading expert. It helps if you know what a blockchain is or how the ledger and transactions work, but this is all optional.

Binary options trading scam

The scam starts before the investor even opens their brokerage account!

Many new binary option traders get hooked by a video about binary trading signals, or a binary options robot.

The scam works like this:

A fake company opens a website that looks like a legitimate binary options broker.

They create a trading signals software that promises 100% accuracy!

When you join the scam, you quickly lose your initial deposit of $250.

You then get a phone call from a “senior broker” asking you to invest $5000.

If you are now having difficulty withdrawing your money from a broker, read this.

Start with demo trading

The smart and best way to start trading, is with a legitimate regulated broker that offers you a free demo account.

How to prevent becoming a scam victim

The first step to avoid a binary options scam, is to properly research the binary options broker. Most review websites only give generic information about the brokers.

Does the broker have a license from a real government regulator like the CFTC, FCA, FSB or ASIC?

Is the broker constantly calling you to deposit more money?

Does the brokers license protect investors from your country?

Has the broker been fined for unethical business practices by their regulator?

The second step is to choose a good trading signals system or robot

Never use a robot that asks you to make a deposit, before you can see the settings.

Testimonials are all fake and illegal according to cysec rules.

Never follow a trading signal unless it fits with your trading strategy.

Remember, the software that created your account, can place trades on your account.

Historical performance is never an indication of future results.

Read the trader discussions on the binary options forum.

Conclusion

Binary options trading scams are a very common occurrence now. Do your research, and don’t get excited about making $1,000 by doing nothing. For every broker you find, and every trading system you hear about, there are 10 others who offer the exact same thing.

When choosing a broker, make sure you are using a locally licensed and regulated broker, choose one here.

So, let's see, what we have: learn all about binary options scams and why they exist with our expert guide. Find out how to spot an online scam and not lose your investment funds. At legit binary trading companies