Binary Option Scams

Trading Binary Options with an unregulated options broker is basically gambling. Learn about licensed and regulated brokers here or select from the menu above.

Many binary option brokers are not regulated, and many brokers are based in tax havens or places like Gibraltar, British Virgin Islands, Seychelles and Cyprus. This causes many people to assume all binary options are scams. The truth is, not all brokers are scams. Going with a regulated broker is the smart decision! See regulated brokers here.

For an updated report of the most popular brokers, see here

American Traders will not find a CySEC regulated broker that accepts American traders. Empire Option which is regulated in Uruguay, accepts American traders.

The most popular brokers accepting American traders are: Boss Capital, MarketOptions and GOptions.

MarketOptions offers a Low $100 Minimum Deposit, see here.

Other brokers that accept USA traders are; BeeOptionsBloombex, Brokerage Capital, CherryTrade, Cedar FinanceCTOption, Empire OptionGTOptions, Leader Option, OptioNow, OptionsXO, TitanTrade, uBinary, and Regal Option.

Signal Providers – We have an extensive discussion of binary option signals here. Most brokers offer some type of trading signals to their clients. There are a few brokers who actually have auto signals software.

The best is Signal Index from GOptions. There is an extensive discussion of their signal service here. Traders can register here with GOptions and they will give you access to it.

Bloombex offers an auto trader called iFollow, see here.

Demo Accounts – Most brokers do not offer free demo accounts for traders to test their platform. Brokers would rather focus on existing customers than spend time with a non serious trader. PowerOption (No USA traders) and uses the Marketpluse platform, and offers free demo accounts, see here. GOptions accepts American traders, and gives traders a separate demo account, with a funded account, register here.

You can read more detailed reviews here: There you will find reviews of legitimate and scam binary option brokers.

Email Your Questions

Recently, The Cyprus Securities and Exchange Commission decided to include binary options in the list of financial instruments that fall within the remit of the Investment Services and Activities and Regulated Markets Law. You can find the complete list of investment firms here.

Here is a quote from one Binary Options brokers website.

Like many other instruments that take their value based on the value of an underlying asset, binary options have no centralized exchange on which they’re traded. Brokers sell contracts directly to buyers with no third party involvement, known in the financial world as over-the-counter trading. Since binary options are almost exclusively traded over the internet, this allows brokers to establish themselves in areas with favorable financial regulations. Many brokers, for example, are based in Cyprus which has a low tax rate. Other than local taxation policies, there is little regulation for trading binary options. Their over-the-counter platform and various broker locations work together against the implementation of any real regulations.

It is imperative that someone who is considering trading binary options does their research before giving a broker their money. By simply performing a search and reading reviews for a given broker, a trader can ensure that their money is held securely and responsibly.

This broker is telling you to not open an account with a binary options brokerage firm, unless you verify that they have a good reputation.

Two issues that constantly come up with Binary Option Brokers are:

  • Do they allow you to withdraw your profits?
  • Are their quotes correct?

For example, If you are placing a bet on the EUR/USD. What price are they quoting? Is it the same price you see on the CME Globex, on IdealPro, FXCM? Each broker makes up their own prices. When trading Binary Options on a stock. Is the broker using their own data? Are they taking quotes from the NYSE, NYMEX and Electronic exchanges or from their own internal system.

Here is what many brokers write in their disclaimer about market prices.

Option quotes displayed on the platform are indicative rates that the company is prepared to sell options at, and may not correspond to either live market quotations or quoted rates at the point of sale.

When reading reviews it is important to know who is writing the review. You are better off speaking with friends who actually have an account with that broker and have had experience trading real money with them before you decide to open an account.

On June 6th 2013 the SEC put an investor alert regarding binary option scams. Read entire alert on the SEC website here.

Our latest check on May 30th 2014, shows more than 250 different Binary Option Brokers. See the complete list below. We have not been able to verify that all of them are still operational but the ones with links are actively trading.

24Option CTOption Lionive Sky Binary
60 Options Currency House Leader Option Smart Dengi
777 Binary Cyber Options LBinary Smart Option
777 Option Dragon Options Magnum Options SpotFN
888 Binary Dream Option Master Option Star Option
Admiral Markets Easy Getter Market Options StarfishFX
AFX Capital Easy Invest MinuteOptions StockPair
AJ Browder Capital Easy Option NordBNK Swift Option
Alfa Markets Easy Trade Novo Markets Target Options
Alfa Options EBinaires NRG Binary TD Options
Almishal Trading Empire Option NY Stock Options Thinks Binary
Alpari EU Binary One Two Trade Top Option
AnyOption Europa Trader Options Market Trade 101
Apostenabolsa ETX Capital Optima Capital Titan Trade
Avrio Exciting Markets Option 365 Trade Quicker
Banc De Binary Ez Binary Option 4 Trade Trade Room Bar
Banc De Swiss EZ Trader Option Area TradeRush
BB Option E-Z Option Option Bit Tradenet 777
Beaned Five Stars Options Opteck Trader DPI
Beast Options FMTrader Option Game Trader Easy
BeeOptions FN 168 Option IBC Trader World
Bet on Markets FTD Options Option King Traders King
BF Markets Futuriti Option Luck Traders Leader
BFX Option FXCC Option Lucky Traders Room
Binary Trade FXDD OptioNow TraderXP
Binary Options 360 FXIM Option Place Trading 24/7
Binary Geo Tradex OptionRally Trado Bank
Binary Bank Get Binary Option VIP Trend Option
Binary Markets GFM Trader Option Web Twin Option
Binary Plus Global Trader 365 Option World uBinary
Binary Plus One GMT Options Option XP Ultra Markets
Binary Pro GMYT Binary Option Yard United Options
Binary Profits GOption OptionFX UPFX
Binary Tilt Golden Binary OptionTime Vault Options
Binary Wall Street Golden Markets Options 2 Trade VIP Binary
Binary Winner Golden Matrix Options Bravo VIP Option JP
Binex Markets Goldfinger Options Express Vostro Finance
Binoa Go Options Options Now We Option
Bloombex Grand Option OptionsXO White Trader
Bloombex Options Grow Binary Option Winner Winner Options
BNRY Options GTOptions Oracle Options Windsor
BO Capital GTF Binary Parimatch World Options
Bopcije Hot Options PowerOption XL Options
Boss Capital HY Binary Options Premium Options XOption
Bot 98 iOption Put n Call XP Markets
Brokerage Capital Interactive Option Qatar Zenith Options
Bridge Binary IBFX Redwood Options Zerich option
Capital Option IH Options Regal Options Zoch Trade
Cherry Trade IKKO Trader Robo Option Zoom Trader
City Binary Insta Options Royal de Bank Zone Options
Cedar Finance Insync Real Options
Chief Traders KB Options Set Option

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