Get your money back from Binary options scam
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Table of contents
You can get your money back
Overview
At ReclaimBridge, we’re passionate about empowering our clients to take back what’s rightfully theirs after fraud. Our investigation reports and action plans provide you with the tools and resources you need to retrieve your losses. We also offer informative guides to help you understand and avoid future scams.
What are binary Options?
Binary options are categorized as exotic options. Although binary options trading may appear to be a relatively new speculative market, it has been around since 1974, when it was developed by the Chicago Board Options Exchange (CBOE), one of the world’s largest derivatives markets. It wasn’t until 2008 that binary options were made widely available to the public, and numerous entities replicated the original CBOE asset type listing.
Binary options are a type of option that allows you to guess whether the option expires in the money – that’s it. Some unregulated binary options brokers allow for guessing on out of the money outcomes. A simple yes or no bet is made, hence the name binary. Contemporary binary options have expiration times between a week to a few minutes, with the majority of modern binary options platforms specializing in under one-day expirations.
Common Binary Options
Three main binary call/put options are available:
– Binary Option High/Low
You place a wager on whether the price will close above or below a particular threshold.
Touch/no-Touch
At least once before the option expires, you place a wager on whether or not the price will hit a specific price level. The fact that it hit that price level prior to expiration is all that matters, regardless of whether it closes above or below.
– Boundary
You wager that the price won’t go above or below the current traded price by a specific amount. For instance, you wish to wager that, over a specific time frame, XYZ will not trade above $2.00 or below $1.00; if prices remain between these two ranges, you will profit.
Key Points
Three main binary call/put options are available:
Both the UK and the EU have banned binary options in the last three years, making them a highly volatile and dubious speculative market.
There aren’t many regulated binary options firms, which puts your money at more risk.
Businesses like as Payback can assist victims of binary options scam in getting their money back.
-Discover user evaluations and conduct your own due diligence by researching each binary options trading platform.
-Avoid taking on more risk than you can bear.
Are binary options a scam or legit?
Most of the time, binary options are an illegal market and a scam. The fact that binary options markets are lawful in the US but banned in the EU and UK may surprise you when you compare the different legal distinctions between US, UK, and EU financial rules. In actuality, binary options markets in the UK and the EU were just recently banned—in 2019 for the latter and in 2018 for the former.
A large reason for the banning of binary options in the EU was due to the dubious nature of CySEC (Cyprus Securities and Exchange Commission) broad granting of national regulatory approval to a large number of unethical binary options brokers.
The US’s high regulatory environment makes participation in binary options marginally safer from a compliance standpoint, but it does not remove the inherent too high-risk nature of binary options. There is perhaps no market in the realm of financial markets that professional speculators and investors more deride than the binary options market. Know that binary options are more akin to gambling than speculation and that it is a true zero-sum instrument.
Binary options robot scams
You are probably aware of the popularity of robots, or “bots,” if you are a day trader or aspiring day trader who is familiar with some of the world’s most speculative and high-frequency trading markets, such as FX or futures. Robots that trade binary options are frequently marketed as an account management tool. In order to enable a person or automated system to make trades on your behalf, you must share your account details or an API. Many high-pressure sales techniques, misleading claims about success rates and return on investment, and visuals showing affluent lifestyles as a result of employing their system are all features of binary option robot scams.
Binary options software scams
Binary options software scams are widespread and belong to the same category as robot scams. Depending on the software used for binary options (the majority are typically done through a web browser), some software is marketed as “machine learning software” or “advanced artificial intelligence (AI),” giving you the impression that it is a very complex algorithm that will provide significant profits. Many software vendors claim to have made large profits, however these profits are derived by selling their software to third parties rather than from the software’s performance in the binary options market. Watch out for the sales techniques and phony lifestyle photos, just like with robot frauds.
Binary options trading scams
There are a significant number of trading frauds in the binary options industry. Many former (and new) brokers have been forced to reestablish their companies in countries with little to no regulation because binary options have been prohibited by some of the biggest regulatory bodies in the globe. There are hundreds of unlicensed brokers worldwide as a result of the widespread prohibitions on binary options. Data feeds from brokers in the binary options market are dubious to downright fraudulent. Bids and asks frequently swing wildly in the last few microseconds, causing large losses, sometimes on both sides of the trade! Using only registered brokers will help you avoid some trading scams, however there aren’t many genuine ones.
Binary options signal scams
The most common type of financial fraud and scams in today’s markets are unquestionably signal scams. Signal scams in the binary options market are when someone or a business offers to sell you trade ideas (signals) in return for a monthly charge. They offer the signals through their website, email, or text message. In the majority of markets, the most widely used method of sending signals is via the Telegram chat app. Signal providers should be avoided, just like with any financial instrument, as their sole goal is to profit from you as a subscriber.
Lost Money to a Binary Options Scam? Here’s How an Investigation can Help
Although becoming a victim of a Binary Options scam can be discouraging, it need not be the end of the world. Finding the truth, prosecuting the con artists, and maybe recovering your losses may all depend on the results of an inquiry. You will have access to the best investigation services from professionals in their field when you use our Binary Options Investigation services.
Our investigation will culminate with a comprehensive Investigation Report which will outline our findings and give you the insights you need to take the next steps. If you choose, we’ll also be there to support you, offering guidance and answering your questions as you work to reclaim your funds. With our Investigation Report and your determination, you can take the necessary steps to reclaim what’s rightfully yours.
How to avoid Binary Options trading scams
Use only regulated brokers; in the US, the Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) are the regulating bodies in charge of binary options. Reputable brokers will publicly display their license number and provide links to the website and national regulatory body.
Read customer reviews from a variety of sites as part of your due investigation. Websites that review solely binary options brokers should be avoided; they are probably merely shell sites designed to direct you to one or a small number of brokers.
If the broker is unregulated, check where the broker is based – it’s good to know what nation the business is headquartered in.
If you do want to risk your capital in the binary options markets, test the broker’s data yourself. Vet the broker and ensure that data feeds are authentic and that there are no abnormal price changes near expiry.
Binary options scam FAQ
Are Binary Options Legal in the US?
Binary options are legal in the US and have overlapping regulatory agencies, chiefly the CFTC (Commodities Futures Trade Commission) and the SEC (Securities and Exchange Commission).
How do binary options robots work?
There are several mediums that binary options robots use – the primary is an executable piece of software, the other requires you to share account information for the robot to trade on your behalf.
What is binary options trade copying?
Binary options trade copying is a service offered in the same vein as robots and signals. Trade copying essentially connects your brokerage account to a ‘master’ account, and it will automatically trade your account for you.
I was scammed by a binary options scam. What can I do?
If you were scammed by a Binary Options broker, we can investigate your case and provide you with a comprehensive Investigation Report and a personalized Action Plan that you can use to get your own money back.
