We have thoroughly reviewed the broker you are looking for. See the investigation results and our final verdict further in this article.
It is equally easy for professionals and novices to fall prey to such binary options scam brokers. Through years of experience and the natural evolution of the industry, creators of all sorts of brokerage platforms have learned how to present their offer as the optimal solution for generating income online. Scam brokers have mastered the ability to mask themselves as authentic. This has led to a lot of problems for day-traders.
Binary broker service providers like this are no different. Years of experience has made us capable in spotting the scam in an instant. Our broker-evaluation team specializes in investigating certain aspects of any broker so that we can provide objective and relevant information. The binary options industry is vast and is expanding every minute. It is of crucial importance that people are warned of the signs of a scam. The reasons why we can claim the broker to be a scam follow:
- Lack of License – this is the first sign of trouble. The broker lacks important aspects of its methods of operation which hinder the acquisition of a license. There are similar cases in which the issuing of a license is still pending. This shows that the broker is still not capable to complete the conditions of the financial authorities which will give it a license to operate. The majority of brokers without a license are dangerous scams.
- Withdrawal Delays – there are a lot of users complaints regarding problems with the withdrawal procedure. Withdrawing funds requires various documents of verification and identification so that a trader can prove he or she is the owner of a certain trading account and balance. The procedure is lengthy and exhausting but never trust a broker that promises you to process your request on the spot without any additional verification.
- Unauthorized Fund Transfers – one would think that this is too arrogant on the part of the broker but there are a lot of cases of unauthorized charges. In this case, the only think you can do is contact your credit card company and take action with their support. Alternatively, you can use wire transfer or some form of e-wallet to avoid unpleasant situations like this, especially if you are not entirely convinced of the integrity of the broker.
- Bonus Terms & Conditions – such scam brokers will put a very hard to find clause in their Bonus Policies that will prevent you from withdrawing your funds before achieving a certain trade volume. That is why, brokers that have unclear bonus policies are like to be scam and you should read very carefully their Terms & Conditions before falling for the bonus proposal.
- Account Managers – scammers boast about their account managers. They are very pushy about them and try hard to make agree on one. Those are people who in theory should take care of your finances, manage your investments instead of you and make sure you generate profits. Scam brokers offer scam services, because they win when you lose. Be very careful when accepting the help of an account manager, especially if they mean to trade in your stead.
These are clear signs of scam. Broker carrying them is not a good choice for your investments. Beware! The broker you are looking for is most probably a scam so our advice is to avoid it.
Opt For Safety
Due to the rapidly increasing number of scams, released on the online trading market, it becomes more and more difficult for investors to discover a legit and reliable binary options trading broker platform. However, there are some proven to work solid brokers which are distinguished by consistency in their operational process and results. As a result, investors get access to secure and safe trading process that delivers them regular profits. Combined with the fact that these specific broker platforms are regulated and professionally designed, makes them preferred and highly reputable in the field of online trading binary options.
Top Safe Broker for United States:
How To Recognize The Legit Broker?
Binary options investment brokers are generally regarded as more trustworthy and legit than profit amplifying systems. Actually, it is harder for them to operate if they remain unregulated. However, this does not mean that there aren’t cases of fraudulent platforms. The first factor by which to judge the reliability of a broker are the stamps of approval and security certificates issued by certified organizations. They should be visible on the official website of the said.
Of course, there are many other characteristics which determine a binary options broker platform’s status as scam or legit. Our years of experience have made us capable to determine a legitimate one almost immediately. But one can never be too sure. We’ve decided to compile an exhaustive list of all the features that constitute the thin red line separating the trustworthy brokerages from the dubious ones. Users who would like to learn what to look for to find a legit brokerage continue reading.
- Approval Stamps & Certificates: These are usually issued by authorized regulatory bodies. Such are CySEC, MiFID and others. The certificates they promulgate not only categorize a binary options broker as legit. They also stand for the fact that the online platform is carefully monitored, scrutinized and under supervision.
- General Traders Satisfaction: Even if a binary options investment broker has all the necessary certificates, this does not mean that it is 100% legit. There are some who started off pretty good but their reputation has declined over time. Where stamps of approval fail to give a clear judgment – here come the user satisfaction rates. When people are dissatisfied with the performance of a brokerage, there is little else that can be done.
- Variety of Account Types: If a binary options investment broker does not provide online traders with a diverse assortment of account types, then this would point turn the tables in the scam direction. Since users are the ones who would be placing the initial deposit, they have to be entitled to the right to pick from a wide variety of account types.
- Provided Bonuses & Extras: The company behind a binary options investment broker has to do their best to keep users content and satisfied. This means that the different account types should go hand in hand with an increased number of bonuses. Users should know what they are paying for. Also, regular contests and prizes are a must!
- Education Center Materials: Every legit binary options broker platform has to provide its clients with a decent Education Center. The materials in it have to be suitable both for seasoned and novice traders. Since we are living in an era that becomes more digitized with each passing moment, the provided courses should be interactive.
24/7 Customer Support: Most legit and reliable binary options investment brokers pamper online investors with around the clock support. It would be bet if traders can reach it via several different methods: live chat, email or telephone. Also, that it is multilingual. If a brokerage offers the service only in English, then it is most likely a scam.