Black-List & Scams
Thank you for visiting the Binary Options Blacklist! On this page you will find an updated list of scam brokers, fraud cases and brokers involved with lawsuits. Many fake sites are attempting to destroy the good reputation of well established binary options brokers. Before signing up make sure to review the Blacklist carefully. If you are currently having issues with the mentioned brokers you can always file a credit card dispute as a last solution. Please email me at firstname.lastname@example.org for the complete list of scams or if you would like to report a scam broker not listed on this page.
DO NOT SIGN UP WITH THE FOLLOWING BROKERS!!
Amber Options, Sycamore Options, EZ Binary, XB24, Safe24Options, TraderXP, Banc De Swiss, OptionsXO, Vault Options, Royal De Bank, Golden Binary, OptionMaker, OptioNow, Markets World, TradeRush AKA RedwoodOptions, Traders King, Tiger Options, VIPBinary, Option Trader, Global Trader 365, Option Area, NY Stock Options and Trader’s Room.
ScamWatchDog.org (fake blog by Roy Tribble promoting scams) the real one is BinaryoptionsWatchDog.com
Avoid the following signals services and fake auto traders – Get Rich Quick Scams!!!
Binary Matrix Pro, Hercules Profit Pro, Insider John, Push Button Commissions, 2015 Millionaires’ Club, Profit Maximizer, Secret Money Vault, My Cash Bot, Elite Trader App, Millionaire Blue Print, RevTraderPro, NewYearMillionaire, 30 Day Change, The Covert Society, Insider John (App 810), Quick Cash System, Ataraxia 7, Guaranteed Wealth, Oz Robot, Golden Goose Method, Cheat The Odds, 7 Day Millionaire, Insured Profits, Tokyo Bot, Wealthy Trader, Legal Insider Bot, Millionaires Club, Auto Profit Replicator, Safe Trader App, The $100K Club, The 1 Percent Club, Daily Binary Profits v7, Binary Chaos and Commodity Robot. Many of these services were blacklisted on BinaryoptionsWatchDog.com and you can also share your comments below regarding any of the above services or if you know of a different scam traders should be aware of.
12/26/2014 update: Struggling to get your money back from a Binary Options Scam? get your money back via DisputeZone.ORG a new 3rd party mediation service by Michael Freeman
Also check out my new warning regarding Binary Options trading in the US with non CFTC regulated brokers!
Binary Options Scams – Questions and Answers
How To Identify a Binary Options Scam? At times traders can fall into the hands of a fraudulent company, pretending to offer the same services and level of customer care that the popular brokers offer their users. Depositing your money is easy with any company you signup with, yet the withdrawal process might quickly become a nightmare if you signup with the wrong broker. I am committed to keep the Binary Options Black-List up to date and I encourage users to email me at email@example.com is you have any major issues with your current broker. One of the first signs is the lack of customer service and if the customer service team is unavailable during business/trading hours they probably won’t be around when you ask for your money back. Another way to identify a Binary Options Scam is by conducting a Google Search to find any negative testimonials and reviews on the company and it’s recommended that you background the company before you signup. It won’t help much to research the company after you already funded your account.
I signed up with a bonus and now I can’t withdraw my money, what can I do? In many cases, traders without any online trading experience fall into the New Account Bonus Offers that restrict the trading account. This restriction is referred to as a “Loyalty Offer” which sounds better, yet in reality a bonus restricts your account to a trading volume requirement that is usually much higher than the deposit amount, locking your funds with the broker until you satisfy the condition. Does it mean you got scammed? If the representative explained the bonus restrictions and you still decided to take the bonus, it’s not a scam. If the broker sets you up with a bonus without asking you, it’s a scam. Over all I don’t recommend signing up with any special incentives and bonuses.
I want to request a withdrawal and they are asking me for a picture ID and my credit card information, Should I give them my personal information? Some traders may confuse the standard identification procedure implemented by all brokers for the safety of the users for an identity theft scam of some kind, yet this is a necessary procedure to ensure that the customer requesting the withdrawal is the same account’s depositor. If a binary options broker asks you for your Social Security Number of any other sensitive information besides your ID , Utility bill and Credit Card Info this might be a binary options scam and you should never give out this information!
I’ve been scammed! How get I receive my money back? If you are %100 confident you signed up with a scam broker you can file a dispute with your credit card company and cancel out the transaction, in most cases you will lose if you don’t have sufficient proof that you didn’t receive the services you signed up for so the burden of proof is on you, the customer. Disputes may take up to 30 days but in the case you did in fact get scammed this might be your only possible way to get your money back! UPDATE: now you can get your money back from a Binary Options or Forex Scam via my new mediation service, visit DisputeZone.ORG and file your complaint!
For more information on Binary Options Scams and Black-Listed sites or if you have any feedback on any of the Black-Listed Brokers be sure to email me at firstname.lastname@example.org Mike