Estimated reading time: 7 minutes
Before you try to crucify me, allow me to air my views on this matter.
Yes, fairbinaryoptions.com by Erik Smith is a fake site. You shouldn’t trust binary options resources listed on that site.
This may be your favorite site for binary options tutorials, brokers, signals e.t.c but it may as well be a death trap for traders especially the newbies.
In this article, i will show you in detail, why you shouldn’t trust any information that comes from Erik Smith’s Fairbinaryoptions.com.
If you find this report useful, kindly hit any of the share buttons below to let your friends know about this as well and together, we will build a healthier binary options community and avoid scams and fake sites like fairbinaryoptions.com.
First, you should know that Erik Smith’s sole objective is to get new traders to register with any of his recommended brokers, signal providers and any other paid service. This way, he’ll be able to get commissions for any depositing trader. Also, he is being paid handsomely to display a lot of scam brokers on his site.
The issue of popularizing scam brokers was the darkest side of it all and that motivated me to write this article.
For Christ’s sake, fairbinaryoptions.com is one of the reasons why binary options is regarded as a total “Scam” today. This is because Erik’s site is one of the most trusted sites in the binary options industry but frankly speaking, it is not.
Any mention of the phrase “binary options” outside the binary options community would steer up scammish thoughts in the audiences’ minds. For instance, take a moment and ask any questions regarding binary options in the Yahoo Answers community – You’ll be surprised that the first response you may get will be “Binary Options is Scam! Stay away!
This is what sites like fairbinaryoptions.com causes. They paint bad images of the topic to the outside world.
How would you expect a new trader that had had a bad withdrawal experience with any binary options broker to still consider options trading a legitimate business? No way!
Below are some of the reasons why you should not trust any binary options information that comes from fairbinaryoptions.com:
This is the #1 reason why shouldn’t trust the information from Erik’s site. Most of his broker reviews are fake and are personal broker reviews. They are not real user reviews. Also, many new brokers find his site a fertile ground for growth and development of their ugly businesses.
His site was just perfectly designed to portray a mixture of good and bad brokers in such a way that it would be hard for someone to detect the differences easily.
He is being paid high amounts of money to collaborate with and support scam brokers to take away traders’ funds! Why would he refuse such huge amounts of money. I have no idea how much he gets for those fake reviews but what i do know is that he will never do that dirty job without charging a token from the brokers.
Take a look at the screenshot below: These brokers are what he regards as the “best and trusted brokers” but honestly speaking, some of them are not! There are only few brokers in the market that are actually legit. At the time of writing this article, below are all of the brokers supported by Fairbinaryoptions.com:
I will use two brokers (OptionRally and CeedarFinance) in that list to drive home my point as i am pretty sure those brokers are scams and are not trusted by traders. Others in his list may be reliable why some others may be similar to the above two or entirely new brokers whose reputations have not been fully ascertained.
OptionRally broker has recently been found guilty of withholding clients’ funds without their permission. In order words, when you register with OptionRally and deposit money, you can hardly ever take it out again even if you complete the minimum trading requirements.
I am not the only one witnessing this – Below are links to third-party sites where traders are complaining of losing funds with OptionRally in one way or the other:
Erik Smith wholeheartedly recommends OptionRally to his site visitors.
Apart from giving a fake website review of OptionRally, he wrote about “OptionRally Scam” which you can clearly see below:
If you’ve already noticed, I am providing only screenshots from Erik’s site and not linking to it because after reading this article, he may decide to remove those scam brokers and their associated fake reviews.
So, you can clearly see that Erik Smith is working hand in hand with some of the top Scammers in the industry to rip off traders’ funds! Any broker that refuses to pay him will not get approved in his list of “best binary option brokers and trading platforms”.
Another fake broker is CeedarFinance. One thing you should know is that CySec has permanently revoked the license given to CeedarFinance broker because they violated some of the laws guiding their activities. This factor alone can make them go haywire and rip off traders’ funds any how they want with no authoritative body questioning them.
Proofs that Ceedar finance is a scam broker and should not be trusted:
Again, Erik Smith recommends this fake broker, CeedarFinance.
Read the text in the image below:
Of course, since he hides the truth from the public, he wouldn’t allow real users to leave comments or post reviews about the specific brokers listed on his site. He realizes the fact that allowing user reviews will hamper his efforts and bring his profits from the brokers to the barest minimum.
This is unlike real binary options sites where users are allowed to comment or review any brokers, products and signal services of their choice.
As one would expect, the seals and awards at Erik’s fairbinaryoptions.com just serves an enticement to get new traders sign up with his recommended brokers. Those are fake seals and should not be trusted. Anyone can build up seals from anywhere!
You should know that he was given those seals/awards because he has achieved massive success in driving enough traffic to various scam brokers and in return, they rewarded him the so-called “seal of approval, fairness, safety, support e.t.c”
Even if he was truly given those seals by the “authorities”, he doesn’t deserve them at all judging from the analysis you saw above.
Other things you should know about Fairbinaryoptions.com is that Erik, with his Knowledge in the binary options industry has set up guides, news, academy and trading strategies all tailored towards driving visitors to his list of scam brokers.
Avoid sites like Fairbinaryoptions.com. Stay away from that site entirely if possible. In as much as you can learn from his trading strategies, news, guides e.t.c, DON’T EVER REGISTER WITH ERIK SMITH’S RECOMMENDED BINARY OPTIONS BROKERS! THEY ARE MOSTLY FAKE!
There are many other sources where you can find trusted brokers and trading resources. These sites are (arranged in no particular order)
I know that my site may not be as popular as Erik’s fairbinaryoptions.com in the industry but with the help of my readers, i believe we can expose all the fake products/sites/brokers/services in the binary options market and build a better future for it tomorrow.
Fairbinaryoptions.com is just one out of many sites that engage in this type of unscrupulous activity. I will be exposing them like this one after the other and it is left for you, the reader to make the right choices and make the best out of your small investment in the binary options community.
Your questions and comments on this issue are always welcome!
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