Binary Options Scams 2013
This section has been especially created to help you differentiate trustworthy binary options brokers from scammers.
UPDATE: AVOID THE LOT!
Our team of researchers and traders are currently researching any existing complaints and issues for all of the brokers in the industry.
On a scale of 1-10: 0 = Scam Broker, 10 = Relatively Safe. A higher score equals a safer and more trustworthy broker.
Please bear in mind that every broker is likely to have complaints of some sort on the internet, either from angry traders losing money or those that havn’t read the Terms and Conditions carefully. Generally speaking, any brokers with a scam rating of 5 or under are SCAMS.
SCAM Binary Options Brokers:
- StartOptions 1/10, High Risk but Waiting for Regulation
- GCMBinary – 1/10, SCAM
- OptionFire – 2/10, SCAM but Uninspiring
- OptionRally – 2.5/10, Innovative with Potential and No Scam Warnings
- TradeRush – 3/10, Safe Broker
- WinOptions – 3.5/10, Low Risk, Safe Broker
- OptionBit – 4.5/10, Small Issues
- TradersRoom – 4.0/10, Safe Broker
- VIPBinary – 4.0/10, New and Unproven
- OptionsClick – 4.0/10, Average But be Careful
- EZTrader – 4.0/10, Gamblers Paradise
- TraderXP – 4.5/10, OK, but Limited Bonus and Appeal can Put Off Novice Traders
- CitiTrader – 4.5/10, Small Grumbles but Nothing Major to Worry About
- GlobalOptions – 7.0/10, Make you Nervous
- BloombexOptions – 7/10, High Fees and Risky Trading Platform
- OptionXP – 7/10, Very Suspicious
- EmpireOption – 8.5/10, Very Dubious Withdrawal Requirements and Bonus Conditions
- MinuteOptions – 8.5/10, Avoid this Broker
Here you can locate unbiased and carefully researched reviews on all brokers currently active on the market. One of our primary goals is to provide you with the best procedures that you can utilized in order to avoid broker scams and malpractices.
To achieve this objective, we are deploying a methodology that differs substantially from those used by other similar websites. The majority of them tend to be market-oriented with the prime objective of promoting the key benefits and advantages of preferred brokers. They make hardly any attempt to portray the real experiences of traders who have used these companies but, instead, have just focused on the key selling points in order to entice new custom.
In contrast, we attempt to present a more complete picture of reality by producing articles based on the real-life experiences of investors who are or have been registered members of applicable digital options brokers. For example, we are keen to collect the comments from traders about their own binary options adventures so that we can compile as accurate picture as possible of the current state of the binary options market
So, how do we assess the quality of a broker, you may well asked? Essentially, we used two primary tools to enable us to accomplish this task. The first involves the use of our own wide-ranging network of qualified consultants who are well versed in supplying us with comprehensive studies and reviews about brokers and all the latest binary options developments. In addition, we also undertake extensive internet investigations by visiting appropriate review sites, message-boards and Forums, etc.
How reliable are your broker evaluations? We attempt to produce the most current and precise assessments on brokers as possible. However, we are always keen to receive other related points of view just in case we may have missed any important points. Such events can happen because the binary options industry is evolving at such an intense pace presently. Consequently, if you can provide any useful insights then please contact us and let us know. We can assure you that we will always study your comments carefully.
Although we will strive to provide accurate assessments, you must not forget that binary options trading is a high risk venture and may not be apt for all investors. Consequently, you are always advised to perform your own due diligence especially if you are planning to make a real monetary deposit with a broker. The information that is presented here is intended to help you greatly accomplish this mission
Can a broker easily gain an approved rating from you? No, they cannot. In order for them to achieve this status, they must confirm that they have implemented the necessary policies capable of providing a binary options service that complies with the highest level of international regulations and laws. They need to verify that they are fully registered with the appropriate regulating authority operating within their location of residence. Also, we will seek evidence demonstrating that little or none negative comments currently exist on the internet about the said broker.
This section will also review the current regulatory state of the binary options industry as well as reporting on all new developments. This information is of great importance because the simplistic nature of binary options trading has inadvertently created an environment that is presently supervised by diverse and inadequate regulatory systems world-wide. As such, substantial global initiations are currently in progress in order to correct this amateurish situation by producing a more professional binary options industry. We will keep you abreast of all important developments.