Binary Scam
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Get your money back from Forex Trading Scams
If you’ve been ripped off by scammers, get in touch and our team of experts will work to get your money back
Scams we helped our clients recover from
How We Make It Happen
1. Assess your situation
Based on our expertise, we conduct preliminary assessments to evaluate the potential for a substantial recovery in your case.
2. Collect the necessary documentation
Diligently collecting all the required information and documentation necessary for successfully advancing your case
3. Engage with the relevant parties
Systematically addressing the relevant entities involved in enabling the unauthorized transfer of your assets.
4. Get Your Money Back
We are extremely proud of our proven track record and assure you that we will leave no stone unturned in our efforts to recover your funds.
Recover Your Lost Funds from Forex Scams
The Forex industry is a prime target for scammers. Since it is widely recognized as a legitimate investment opportunity, distinguishing between fraudulent and trustworthy brokers can be challenging for the average person. In many cases, victims don’t even realize they’ve been scammed—they simply assume they had a “bad trading day.” If you suspect that your losses were due to more than just bad luck, reach out to us. If your broker is fraudulent, we may be able to help you recover your money.
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Binary options are a type of financial product classified as an exotic option. Binary options trading may seem like a new speculative market, but they’ve existed since 1974. They were created by one of the largest derivatives markets globally, CBOE (Chicago Board Options Exchange). It wasn’t until 2008 that binary options became primarily available to the public, and many entities copied 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.
There are three primary binary call/put options:
- High/Low Binary Option
You bet whether the price will close above a specific price or below a certain price
- Touch/no-Touch
You bet whether the price will reach or not reach a defined price level at least once before the option expires. It does not matter if it closes above or below the price, only that it reached that price level before expiration.
- Boundary
You bet that price will not reach a certain level above or below the current traded price. For example, you want to make a bet that over a certain period of time, XYZ won’t trade above $2.00 and won’t trade below $1.00 – if prices stay between these two values, you win.
- Binary options are an extremely volatile and questionable speculative market with both the EU and UK banning binary options in the past three years.
- Very few regulated binary options brokers exist, increasing risk to your money.
- Companies like Ruth & Rogers can help recover money for binary options fraud victims.
- Do your own due diligence and research each binary options trading platform as well as find reviews from various users.
- Never risk more than you can afford to lose.
Binary options are overwhelmingly a scam and an illegitimate market. When you consider the various legal differences between the US, UK, and EU financial regulations, you may be surprised to find out that binary options markets are legal in the US but are now illegal in the EU and UK. In fact, the bans imposed on binary options markets in the EU and UK are very recent – 2018 for the former and 2019 for the latter.
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.
If you are a day trader or an aspiring day trader, familiar with some of the largest speculative and high-frequency trading markets in the world like forex or futures, you are probably familiar with the prevalence of robots (commonly known as ‘bots’). Binary options robots are often sold as a way to manage your account. This involves sharing your account information or an API to allow an individual or automated system to execute trades on your behalf. Binary option robot scams include many high-pressure sales tactics, false statements on the return on investment and success rates, along with graphics depicting a wealthy lifestyle as a result of using their system.
The number of trading scams in the binary options space is substantial. Because some of the largest regulatory agencies around the world have banned binary options, many former (and new) brokers have had to reestablish their businesses in nations where there is little to no real regulation. The broad bans of binary options have resulted in thousands of unregistered brokers all around the globe. Brokers within the binary options space have questionable to outright fraudulent data feeds. It’s not uncommon to see bids and ask fluctuate violently within the final micro-seconds resulting in significant losses, sometimes on both sides of the trade! You can avoid some of the trading scams by using only regulated brokers, although very few are legitimate.
Signal scams are hands down the most prevalent form of financial fraud and scams in today’s markets. For the binary options market, signal scams involve an individual or company that offers to sell you trade ideas (signals) in exchange for a monthly fee. The signals are provided via text, email, or via their website. The most popular version of providing signals in most markets is through the chat platform Telegram. As with any financial instrument, it is best to avoid signal providers – they are only interested in making money from you as a subscriber.
If you’ve found yourself to be the unfortunate victim of a binary options scam, it may seem like you have no recourse except to just take the loss and move on. Don’t let bad actors get away with stealing your money! There are ways to go after individuals and entities that have taken your money. We at Ruth & Rogers are experienced in the recovery of funds from bad actors like binary options fraudsters.
Some of the methods we utilize and have success with are Ruth & Rogers – working with you and your card company to make an authentic and valid report of fraud. Ruth & Rogers works closely with you, and you will work with the same caseworker throughout the process. Fill out our Success Calculator to get started and check the testimonial and reviews for yourself!
Crypto 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?
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.
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