Binary Options Scam - rip off scams complaints and testimonials

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Company Filings More Search Options. While some binary options are listed on registered exchanges or traded on a designated contract market that are subject to oversight by U. Much of the binary options market operates through Internet-based trading platforms investor alert binary options and fraud investorgovin are not necessarily complying with applicable U. For a comprehensive overview of binary options, including information about investing in binary options that are subject to U.

Binary Options and Fraud. When the binary option expires, the option holder will receive either a pre-determined amount of cash investor alert binary options and fraud investorgovin nothing at all.

Typically, a representative of a binary options website will ask a customer to deposit money into an account where the customer can purchase binary options contracts. Representatives of binary options websites may use fictitious names and tout fake credentials, qualifications, and experience. They may misrepresent where they are calling from for example, pretending that they are in the U. If you are considering investing money with a binary options website, look out for these red flags:.

In addition to perpetrating fraudulent investment schemes, the operators of binary options websites may be violating the federal securities laws through other illegal conduct, including:.

Furthermore, if any of the products offered by binary options trading websites are security-based swapsadditional requirements will apply. Banc de Binarythe binary options seller allegedly solicited U. Some safeguards and remedies are available only to purchasers of securities in registered offerings.

In addition, individual investors may not be able to pursue, on their own, some remedies that are available for unregistered offerings. Canadian Securities Administrators Investor Alert: Unregistered binary option platforms target Canadians. Report possible securities fraud to the SEC.

Securities and Exchange Commission. Investor Alerts and Bulletins.

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FINRA published the alert to warn investors that trading binary options can be extremely risky. Unlike other types of options contracts, binary options are all-or-nothing propositions. When a binary option expires, it either makes a pre-specified amount of money, or nothing at all, in which case the investor loses the entire investment. Trading binary options is made even riskier by fraudulent schemes, many of which originate outside the United States. In at least one situation, a fraudster posing as a regulator accused the investor of engaging in illegal binary options trading and demanded payment of a fictitious fine.

Senior Helpline calls suggest investors should be particularly wary of non-U. These include trading applications with names that often imply an easy path to riches, and demo accounts that allow users to try their hand at binary options trading without risking personal assets. Such accounts can serve as bait to lure investors into sending money to fund a "real" trading account, or open the door to identity theft, by requesting an array of personal information.

Binary Options recommends investors take the following precautions before investing in binary options:. FINRA's alert cautions that unless you can verify the registration status of the trading platform, products, firms and financial professionals, do not trade with them, do not send any money, and do not provide your personal information.

FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business — from registering and educating all industry participants to examining securities firms, writing rules, enforcing those rules and the federal securities laws, and informing and educating the investing public.

In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers the largest dispute resolution forum for investors and firms. For more information, please visit www. Monday, October 26, Ray Pellecchia Binary Options recommends investors take the following precautions before investing in binary options: Check the CFTC's website to see if the binary options trading platform is a designated contract market—currently there are only three such markets offering binary options.

Check the SEC's website regarding exchanges to determine if the binary options trading platform is registered as an exchange.