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Frequently Updated *Black-List* of Binary Options Scams

Frequently Updated *Black-List* of Binary Options Scams

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Estimated reading time: 7 minutes

There’s no harm done when we (legit binary options traders) expose those who are trying to make the market filthy and unbearable for all.

Newbies in the industry easily give in to these kinds of scams and our aim is to totally eliminate and possibly wipe them out by exposing their dark sides so that every level of trader will have first hand information on how these binary options scams operate.

There are many legitimate binary options brokers out there as well as a hand full of scam brokers and fake signal services.

These fake brokers and signal services are just trying to ruin the good reputation people have about the industry by promising mouth-watering bonuses (for brokers) and unimaginable profits and returns (for signal services) when you join their train.

List of Scam Binary Options Brokers. *(Do Not Register An Account With Any of Them)*

 

  1. OptionsXO
  2. OptioNow
  3. EZ Binary
  4. XB24
  5. Safe24Options
  6. Royal Binary
  7. TraderXP
  8. EZTrader
  9. Global Option
  10. Banc De Swiss
  11. OptionsXO Amber Options
  12. Vault Options
  13. Option Rally Update: OptionRally Broker Has Changed from Bad to Good In 2 years, Read Full Review Here.
  14. Royal De Bank
  15. Golden Binary
  16. OptionMaker
  17. Tradersking
  18. Sycamore Options
  19. 777Binary
  20. Tiger Options
  21. Binary International
  22. VIPBinary
  23. Option Trader
  24. Cedar Finance
  25. Global Trader 365
  26. Option Area
  27. NY Stock Options
  28. Trader’s Room
  29. BinaryGoal

And List of Fake Signal Providers/Services *(Do Not Subscribe to or Join Any of them)*

  1.  Hercules Profit Pro
  2. Binary Boom
  3. Rock The Stock
  4. Millionaires Blueprint
  5. Aussie Method
  6. The Fisher Method
  7. Cash Code
  8. Society Of Millionaires
  9. Extreme Profits System
  10. Binary Hijack
  11. Simon’s Replicator System
  12. Home Online Earners
  13. My Online Business
  14. Thousand Dollar Days
  15. Push Button Commi$$ions
  16. $100M Club
  17. Chrissy’s Invite
  18. Automated Cash Signals
  19. Insured Profits
  20. Tokyo Bot
  21. Wealthy Trader
  22. Legal Insider Bot
  23. The $100K Club
  24. The 1 Percent Club
  25. The Fisher Method
  26. Rock The Stock
  27. The Private Society
  28. Cash Code
  29. The Apple Stock Robot
  30. My Online Business
  31. China Millionaire
  32. Auto Profit Suite
  33. Daily Binary Profits V7
  34. The Covert Society
  35. Oz Robot
  36. Golden Goose Method
  37. Binary Chaos
  38. Commodity Robot
  39. German Binary Matrix Pro
  40. Millionaires Club
  41. Safe Trader App
  42. Secret Millionaire Society
  43. My Cash Bot
  44. Daily Results
  45. The Binary Redemption
  46. Swiss Binary Robot
  47. Secret Wealth App
  48. 2014 Millionaire Launch
  49. Crisis Killer
  50. Desert Millionaire
  51. Ataraxia 7
  52. 500k Project
  53. Fast Income App
  54. Insiders Club
  55. Daily Binary Profits
  56. Free money System
  57. AutoOptionsBot
  58. AlgoTradingPro
  59. Fast Wealth Club
  60. Al Profit Bot
  61. Guaranteed Profits
  62. The Binary Pilot
  63. Binary Money Maker
  64. Tokyo Bot
  65. Profit Booster App
  66. Magnetic Profits
  67. Secret Millionaire App
  68. Instant Trading Profits
  69. Fast Income Pro
  70. Auto Binary Profits
  71. Instant Profit Method
  72. The Wealthy Trader
  73. Private Wealth Circle
  74. Auto Binary Signals
  75. Undercover Income
  76. TradeSniper
  77. The Binary Insider
  78. 100in60
  79. GetRichInSeconds

Why all these Scams?

As the Binary Options method of trading is still fairly new, it has become a fertile ground for scammers to thrive.

This is because many people have little or no prior knowledge on how trading binary options works and so easily fall for scam products.

Being more in number than the real brokers and signal services, it is also relatively simple for any newbie to fall for these scams.

Binary Options is gaining popularity day by day and it’s opposition, the Forex market is dwindling as time goes by (See images below).

Forex-dwindling-binary-options-scams

Binary options popularity scams

So, this is why we can see more scams pop-up every day in binary options niche rather than Forex.

Many traders have unknowingly fallen into the hands of either scam brokers or signal services all in the name of “trading binary options profitably”.

No matter the type of broker, all of them would require you deposit in order to start trading but only legitimate brokers will allow you to withdraw your funds without any stress.

The scam broker does almost everything a legitimate broker would do in order to satisfy their clients except of course, during withdrawal of funds.

You Can Also ReadOption Bot 2.0 Reviews

One sure way to detect binary options scams is to conduct a search online on any search engine with the keywords “Company name + scam” or “Company name + reviews” without quotes.

Read as many reviews and testimonials as possible from various clients expressing their views about the Company on different review sites before buying any binary software or depositing funds into any broker.

Other minor qualities that may help you suspect the Company in question are:

General:

  • Lack of good customer support
  • Low quality website design
  • Suspicious video testimonials
  • Non-secured website (i.e. Absence of SSL certified website)
  • Not Regulated by well-known Organizations
  • Mouth-Watering Bonuses

Domain Related:

  • New Domain Name
  • Alexa Ranking
  • Domain Age

Brief Explanations of the Above Points:

  • Many times, scam brokers and signal services do not offer professional and dedicative customer service as a real one would do. This stands to reason because they are just online to fight and gain your hard-earned cash without giving you anything valuable in return.

However, sometimes, in a few occasions, other scam brokers may be hyperactive in customer related questions and issues and try to solve them so as to get the confidence of the trader which will later result in the trader depositing funds for trading.

Customer service may be through phone calls, live chat or ticket systems.

  • Fake Companies often post fake video tutorials of people talking about how they made thousands of dollars with a particular software. This is very common with most binary options signal service provider scams.

 

  • Hey! We are dealing with Money here and Clients’ funds should be protected .  Although rare, some wretched scammers may not be able to secure their Company website by purchasing costly SSL certificates for the site.

This means that Clients’ funds and personal information are not secure and therefore cyber criminals can easily have access to them without any restrictions.

To know if a particular site is secure, look in the address bar and make sure the url of the site begins with “https” and not “http” as you would see for https://www.google.com.  Not only this, sites dealing with money should have an additional green bar in the address field in addition to the “https”.   This ensures maximum security and great user experience.

  • Check if the Broker is regulated by bodies like CySec, CFTC, FSA, ASIC e.t.c. If any binary options broker is not regulated, it is a strong sign that you could be dealing with a fake one.
  • Bonuses are good but to some extent. Usually, these fake brokers use incentives like 200% deposit bonus, 500% bonus and other “too good to be true” bonuses to attract new clients into their platform.  Watch out for these kind of incentives as they look very suspicious.  When you find these kind of bonuses, please conduct further thorough online research about the Company in order to fully verify the legitimacy of the program.
  • Though very rare, some scam companies in the binary options industry may use a very poorly built website to represent their Company. This should make you research further about the program.

Domain related issues are in the minority of cases, therefore you shouldn’t use this to fully judge if a Company is scam or not. I mentioned them to let you know that factors like very low Alexa Rankings, new domain name and age should make you being suspicious of that site.

Best Recommendations:

  • Don’t Deposit more than you can  afford to lose with any broker. Always start with the minimum amount the broker recommends so as not to lose much assuming they were to be scam.
  • Always research online for a particular broker or signal service before joining.
  • Even if your trading is good and you’re making nice profits, always do a test withdrawal before depositing more funds. This is to verify the credibility of the broker.
  • Do not buy any binary options signal software without being confident that the product actually works. Please always visit this page to find the updated list of scam products in the market.
  • If a program looks too good to be true, conduct further research to verify the authenticity of the program.
  • Do not give out your social security number or any other sensitive information like PayPal email and password to unknown persons even if they were requested by the Company itself.
  • Logically, you should run away from sites claiming you could make up to $1 Million per day trading binary options
  • If you’ve been scammed and you have proofs to show that you you didn’t receive the services promised by the vendor, you can file a dispute against them with either PayPal or your Credit Card Company depending on the method of Payment.

If you know of any Binary Options Scam Product, Broker or Software, Kindly let us know about it in the comment section below.

 

 

 

 

 

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112 Replies to “Frequently Updated *Black-List* of Binary Options Scams”

  1. Tradersking website is a scam they took a lot of money from and now they don’t want to pay me back even after having an insured trade

  2. Great work you’re doin Val. keep it up! Just came across a sales page for a binary signal app called PROFIT BOOSTER APP. Please what is your take on it? is it genuine or a scam? Your opinion will be much appreciated. thanks.

    1. Personally, I have not tried this Profit booster app but I think it has the same scam technique adopted by the more popular “fashion method” trading system. They said it’s free and easy to setup, promises a specific return on investments and is also linked with Opteck!
      Please i suggest you avoid at all costs or try the app at your own risk!

    1. Both Germanbinaryrobot and Binaryoptionbrokers.net are scams. You can as well find them in our list above. There are many of these type of scams out there as they are not limited to those two. Always check the list in this article to make sure you don’t fall for any of them.

  3. It’s good to see someone else in this market keeping track of binary scams. I write long articles every day about each new system and I’m tired of it. At least I know there are other people out there with the same approach as me and that helps.

  4. Scam Alert!!
    This email is to inform “traders globally, do not trade with http://CVCOption.com(CVCOptionBuildingcapital). This unregulated broker: will scam you out of your profits, if even you didn’t take a sign up bonus. Most recently, they changed their telephone number, and they are nothing more than a boiler room operation targeting newbies to steal their money. So once again, do not trade with CVC Option.com, as they are a big…fraud!

    1. also beware of these CVCOptions scammers that are calling passed client with active accounts stating they need to send the remaining balance to you. They want you to pay a $1500 fee to have them transfer your balance to your bank account. Every time they call me, I request to have the transaction done legally by having they attorney call my attorney to resolve. They will not do things the legal way. They had the nerves to tell me my attorney couldn’t do the legal transaction. At that point, I told them until they have my attorney speak with their attorney to not call me any more. Can you believe this? They are persistent and I will persistent.

    1. Hello Ailene,

      Thanks for your question.

      As Royal Binary is still a new company, i can’t speak for them now because they haven’t got enough reputation and/or popularity meaning that one can hardly tell their intentions of coming into the market because they don’t have enough clients at the moment who can show their testimonials about Royal-Binary company.

      My advice is, to be on the safer side, you have to avoid such new brands till they attain enough credibility and trust from traders. While this is on ground, i suggest you register and trade with only well-known brokers who can make your trading experience a good one, a broker that won’t hesitate to provide all the support you need with their platform and will readily process your withdrawal when you ask for it. Example of such brokers is binary.com or OptionTime both of which are regulated and well known in the binary options industry.

      1. As a Rookie, could I ask you where I should start learning about Binary Options and the like to make a profit? I see it as making an educated guess according to the patterns seen in the trend lines…

        Much Obliged!

        1. We were once rookies in this field 🙂 . Many brokers offer educational resources for those who don’t know how to trade binary options or for rookies as you said.

          Once you’re registered with BossCapital, you can ask for a free educational resource from your personal account manager and it will be gladly given to you.

          Even without asking, they know it’s their job to grab your hand and show you step by step method of trading binary options successfully. Also, you are free to attend their free weekly/monthly webinars to learn how to maximize your profits with the broker. Hope this helps!

  5. On this page you have listed Cedar Finance as scam BUT you have listed Cedar Finance on the Huge List Of All Accredited and Fully Regulated Binary Options Brokers as well.

    So which one is true?

    1. Hello joe,

      Thanks for identifying such an expensive error. That article was last edited by my co-author. All fake brokers have been removed now. You are free to check again and thanks for leaving a feedback 🙂

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