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from Binary Options scam
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How it works
Binary Options Scams:
Recover Your Lost Funds
Every year, thousands of fraudulent binary options brokers emerge, and it’s our dedicated mission to fight against these scams. If you’ve been deceived by your Broker, don’t delay in contacting us. The sooner we take action to confront them, the quicker we can work to recover your money. Your financial security is our priority, and we’re here to assist you in reclaiming what’s rightfully yours.
Your money back guarantee
The fund recovery process can be a lengthy one and requires perseverance. Therefore it is vital that our clients are ready for it and trust us every step of the way. So if for any reason you are doubtful, you can ask for a full refund within the first 14 business days of the process.*
At Trusted-Recovery, we are committed to standing up for our clients who have fallen victim to binary options scams. Our team of recovery experts works tirelessly to retrieve your losses and rectify the injustices you’ve endured from unscrupulous individuals and companies acting fraudulently. Beyond recovery, we also provide informative guides to educate and equip you with the knowledge to recognize and avoid such scams in the future. Our goal is not only to assist in recovery but to empower you against potential future threats..
What are binary options?
Binary options, classified as an exotic financial option, have been around since 1974 when they were created by the CBOE (Chicago Board Options Exchange), one of the largest derivatives markets in the world. However, it wasn’t until 2008 that binary options became widely accessible to the public, leading to many entities replicating the original CBOE asset type listing.
The essence of binary options trading is quite simple: it allows you to predict whether the option will expire in the money or not. Some unregulated brokers even allow predictions on out-of-the-money outcomes. The trading process involves a straightforward yes or no bet, giving rise to the term “binary.” Contemporary binary options can have expiration times ranging from a week to just a few minutes, with most modern platforms specializing in options that expire in under one day.
Common binary option types
Binary options trading primarily consists of three main types of call/put options:
- 1. High/Low Binary Option:
– You wager on whether the price will close above or below a specific value. If your prediction is correct, you win the bet.
- 2. Touch/no-Touch:
– This option involves betting on whether the price will or will not reach a defined level at least once before the option expires. The closing price above or below that level is irrelevant; what matters is that the price reached that specific level before expiration.
- 3. Boundary:
– In this option, you bet that the price will not reach a certain level above or below the current traded price within a specific time frame. For example, if you bet that XYZ won’t trade above $2.00 and won’t trade below $1.00 during a particular period, and the prices stay within these two values, you win the bet. These options provide various ways for traders to speculate on price movements, each with its own set of rules and characteristics.
Binary options trading is known for its extreme volatility and has been viewed with skepticism in recent years. Both the EU and the UK have banned binary options in the past three years, reflecting concerns about the risks involved.
Here are some key considerations for those interested in binary options trading:
- 1. Regulation Concerns: Very few binary options brokers are regulated, which increases the risk to your investment. Always verify the regulatory status of a broker before trading.
- 2. Recovery Assistance: If you fall victim to binary options fraud, companies like Payback can assist in recovering your money.
- 3. Due Diligence: It’s essential to conduct thorough research on each binary options trading platform. Look for reviews from various users to gain insights into the platform’s reliability and performance.
- 4. Risk Management: Never invest more money than you can afford to lose. Binary options trading can be highly speculative, and it’s crucial to manage your risk appropriately.
Given the questionable nature of this market, caution and informed decision-making are vital for anyone considering binary options trading.
Are binary options a scam or legit?
Binary options trading has garnered a reputation as a scam and an illegitimate market, leading to contrasting legal stances across different jurisdictions. While binary options markets remain legal in the US, they have been banned in the EU (as of 2018) and the UK (as of 2019).
One significant reason for the EU’s ban was the questionable conduct of the Cyprus Securities and Exchange Commission (CySEC), which granted regulatory approval to a large number of unethical binary options brokers.
In the US, the stringent regulatory environment may make participation in binary options somewhat safer from a compliance standpoint, but it does not mitigate the inherently high-risk nature of this market. Many professional speculators and investors view binary options with disdain, often equating them more with gambling than legitimate speculation.
The binary options market is a true zero-sum instrument, where gains for one participant are matched by losses for another. Given these factors, caution and a thorough understanding of the risks involved are essential for anyone considering engagement with binary options.
Binary options robot scams
Software scams are prevalent in the binary options space, and they often overlap with the deceptive practices associated with robot scams. Many of these software products are marketed as employing ‘advanced artificial intelligence (AI)’ or ‘machine learning,’ giving the impression of highly sophisticated algorithms capable of generating substantial gains.
However, these claims are often misleading. Many software providers report high returns, but the profits they make are typically from selling the software itself, not from its success in the binary options market. The actual performance of such software in trading is often far from what is promised.
As with robot scams, it’s essential to be cautious of the sales tactics used and the false lifestyle imagery that may be presented. These are often employed to lure unsuspecting individuals into purchasing software that does not deliver on its promises.
The prevalence of these scams underscores the importance of thorough research and skepticism when considering any software or system that claims to provide an edge in binary options trading. Always verify the credibility of the provider and be aware of the potential risks involved.
Binary options robot scams
Software scams in the binary options space are common and fall right into the same realm as robots. Depending on the software used for binary options (most are often done via web browser), some software is touted as ‘advanced artificial intelligence (AI)’ or ‘machine learning software,’ leading you to believe that it is an extremely sophisticated algorithm that will generate substantial gains. Many software providers report high returns – the returns the software provider is making is from selling his/her software to others, not on the success of the software in the binary options market. As with robot scams, be wary of the sales tactics and false lifestyle imagery.
Binary options trading scams
The binary options space is rife with trading scams, a situation exacerbated by the fact that some of the world’s largest regulatory agencies have banned binary options. This has led many former (and new) brokers to reestablish their businesses in countries with little or no real regulation, resulting in thousands of unregistered brokers operating globally.
These brokers often engage in questionable or outright fraudulent practices. It’s not uncommon to witness violent fluctuations in bids and asks within the final micro-seconds of a trade, leading to significant losses, sometimes even on both sides of the trade.
The broad bans on binary options and the subsequent proliferation of unregulated brokers have created a landscape where caution and due diligence are paramount. While using regulated brokers can help you avoid some of the trading scams, it’s essential to recognize that very few brokers in the binary options space are truly legitimate.
Always research thoroughly, verify the regulatory status of a broker, and be aware of the inherent risks involved in binary options trading. The prevalence of scams in this area underscores the importance of approaching binary options with caution and skepticism.
Binary options signal scams
Signal scams are among the most widespread forms of financial fraud in today’s markets, particularly in the binary options arena. These scams involve individuals or companies offering to sell trade ideas or “signals” for a monthly fee. The signals are typically provided through text, email, or websites, with the chat platform Telegram being a popular medium for distributing these signals.
The premise of signal scams is to lure traders into believing that the provided signals will lead to profitable trades. However, the primary interest of these signal providers is often to make money from subscribers rather than to provide genuinely valuable trading insights.
As with other financial instruments, it’s wise to approach signal providers with caution and skepticism. Many of them are more interested in profiting from subscription fees rather than helping subscribers succeed in trading. Thorough research, verification of credibility, and an understanding of the inherent risks are essential when considering the use of signal providers in the binary options market or any other financial market.
How to avoid Binary Options trading scams
Engaging in binary options trading requires caution and due diligence, especially given the prevalence of scams in this space. Here are some essential guidelines to follow:
- 1. Use Regulated Brokers:
– In the US, look for brokers regulated by the CFTC (Commodity Futures Trading Commission) and the SEC (Securities and Exchange Commission).
– Legitimate brokers will openly disclose their license number and provide information about the national regulatory agency.
- 2. Conduct Thorough Research:
– Read user reviews from various sources, not just sites dedicated to reviewing binary options brokers, as they may be shell sites promoting specific brokers.
– Be cautious of overly positive or promotional reviews.
- 3. Check the Broker’s Location:
– If the broker is unregulated, find out where they are headquartered. Knowing the country of operation can provide insights into the broker’s legitimacy.
- 4. Test the Broker’s Data:
– If you decide to invest in binary options, test the broker’s data feeds yourself.
– Ensure that the data is authentic and that there are no abnormal price changes near expiry.
By following these guidelines, you can minimize the risks associated with binary options trading. Remember that this market is known for its high-risk nature and the prevalence of fraudulent actors, so approach with caution and be prepared to thoroughly vet any broker or service you consider using.
Frequently Asked Questions
To help you with any issues or questions you might have, ahead of contacting us, here are a number of common queries that may be relevant to you.
The range of Binary Option scams is huge and growing almost weekly. They tend to be based on a trading platform technology that is skewed or software that manipulates pricing. Others are related to ‘signals,’ which essentially are suggestions and ideas for a fee, which then turn out to be for bad investments. Whatever scam you suffered in the binary options field, we can help you.
Yes, we can and have done so on thousands of occasions. The sheer scale of scams makes the pursuit of recovery harder than in other fields, but we have successfully retrieved funds in all manner of scams.
Every case starts with an initial consultation with our team, during which we’ll ascertain what details and information you have. We then decide if the case is one we believe we can win; if so, we will start the process right away.