Binary Options Scams, Fraud, and Other Complaints Exposed…What Really Works In Binary Options Trading?

I’ve been immersed in the binary options trading industry basically from the start in late 2008, so I’ve seen many trends and fads come and go so I wanted to dedicate a post to address the binary options scams, binary options fraud and other complaints as well as what has stood the test of time and really works in the binary options marketplace..

Binary Options Scams, Fraud, and Other Common Complaints

The word scam gets thrown around a lot in binary options trading and I can understand why as the word “scam” typically gets a bunch of attention. However how many documented binary options scams have you seen or experienced first-hand. I mention this because even with  the number of binary options brokers growing exponentially over the last year or so, I can’t think of one that has taken deposits and run off never to be heard from again. The industry is now going on 5 years in existence and I can’t think of one instance. Now granted this doesn’t mean that some brokers haven’t been exactly forthcoming in their dealings, speaking of which…

Binary Options Bonus Issues — Be Careful

The major issue binary traders have expressed on our Binary Options Weekly Fan Page always revolves around binary options bonuses. I made it a point in the Binary Options Cheat Sheets to “Beware of the Binary Options Bonus”. In general there are terms and conditions that come with accepting binary options bonus cash on top of your deposit that you need to consider before accepting. Most terms require you to trade an amount ranging between 10-30x your actual deposit before making a withdrawal if you accept the binary options bonus. I ran into this issue when I first started trading binary options but the broker simply removed the bonus and I was able to withdraw my returns minus the bonus. Other platforms haven’t been as accommodating. I’ve seen horror stories of brokers, for example Banc de Binary, not waiving the 10-30x trading minimum after traders accepted the bonus. As long as they expressly laid out the terms and conditions of accepting the bonus prior to providing it I don’t necessarily have an issue with that, it’s a business decision. However it’s important you know what you are getting into before trading with many of the brokers.

Binary Options Brokers – The Good, The Bad, & The Ugly

There are many reviews out there online with most having a positive bias due to affiliate relationships but what’s the truth, which platforms over deliver and which ones fail to deliver the goods. Having traded on a number of the platforms over the years I can fully recommend three in particular: TradeRush, 24Option, and OptionBit. I’ve traded on each platform, I’ve deposited and withdrew funds, and have an account manager at each I can call on if I have any questions or concerns. Quickly reviewing the feedback from our Facebook page, 24option appears to be the one platform mentioned most positively amongst binary traders.

It’s impossible to keep track of all the new binary options brokers that pop up seemingly every day so in general my advice would be to stick to some of the older platforms before jumping on a new brand with little history or track record. That being said the brokers I’ve seen most mentioned in a negative light throughout the years include TraderXP, OneTwoTrade, VIPBinary, amongst others…

Binary Options Systems — What Really Works?

The market has been bombarded with binary options trading systems of late, it seems every day a new one arrives promising outrageous winning percentages and automated trading functionality. The question is do any of these systems work? Full disclosure I haven’t tried all these new systems so I can’t really say. There are two however that I have tried and tested thoroughly that have produced solid results for me: Striker9 and Binary Options Pro Signals. I reviewed both in prior posts so won’t get into detail here, but both are good systems for beginner to intermediate binary options traders.

Another system/signals provider you may want to check out is Marketclub. I’ve found success trading binary options off of the real-time trading signals offered through the Marketclub system. You can access the signals for free here for a limited time.

The Future of Trading Systems & Services

Maybe the biggest concern facing binary options trading actually the trading community as a whole is transparency. Trading service providers need to be more transparent in their strategies and results in order to gain a following and build respect amongst the growing trading community. One new platform, just launched in the last few months,  intends to do just that, bring clear transparency to the retail trading community by providing and documenting recommended trades from professional trading service providers on a real time basis, and that platform is MARKETFY.

Whether you trade binary options, vanilla options, stocks, forex, ETFs, Marketfy has a solution for you with detailed signals and results updated every day and shared in live trading rooms with other traders like you. Full transparency, full disclosure…welcome to a new era of trading…Welcome To Marketfy.

One Response to Binary Options Scams, Fraud, and Other Complaints Exposed…What Really Works In Binary Options Trading?

  1. Tom Freeman says:

    Beware CitiTrader!!! They are scamming me for $10,000. Managed account they won’t trade, the bonus won’t go down, can’t access any funds.

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