Scam Tests Binary Options

Best Binary Options Brokers 2020:
  • Binarium

    The Best Binary Options Broker 2020!
    Perfect Choice For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sing-Up Bonus Now!

  • Binomo

    Only For Experienced Traders!

Binary Options Scam

What once started as an honest and simple investment instrument has morphed into an unimpressive Binary Options scam. Unlike the numerous reputable Binary Options brokers, many dishonest brokers and marketers have emerged to harm the industry.

This is indeed unfortunate especially for the many traders and brokers who work well and still have a long relationship. However, this is usually the case as the reputation of the masses is harmed by the actions of a few.

Although the responsibility for dishonesty falls squarely on the shoulders of the broker and marketer, the clients themselves have to take some time to understand the broker and software on offer before investing. There are a number of things that one can usually look out for to identify a Binary Options scam. The team at FXaxe have taken the time to dissect a number of scams and identify the common themes.

Some Typical Scams

In order to avoid falling victim to a Binary Options scam, you need to be able to adequately identify one and know how to test unverified claims. Although the below are some of the most common scams in the industry, the list is by no means exhaustive. Given the chance, a scammer will continually adjust his modus operandi in order to grab more gains.

Therefore, it is important to always be prudent when it comes to investing. If you think that an offer or a service sounds too good to be true, then it most probably is and you should do additional research.

Fake Software Offers

Binary Options, like trading in general, should not be seen as a solution to money problems. This is usually one of the main selling points of these scams. They make their software or broker service appear to be a revolutionary product that can make you a lot of money.

If you suspect that the investment on offer appears false, then it probably is. Any investment or service that can guarantee you “risk free” returns with very little effort are usually lying. Any skilled trader knows that successful option trading requires some time commitment as well as a certain risk.

A typical Binary Options scam follows a familiar script. The inventor or owner of the software makes big claims about the success of the program. He will show you a number of trading records and will also get previous users or “beta testers” of the software to sing its praises. We have even seen a Binary Options scam where it claims that the software was featured in articles in the Wall Street Journal or Financial times.

Obviously, when examined there was no trace of these articles on any of these publications. In fact, there was no confirmations of the software’s success anywhere but on its website.

The offer being presented is usually only available for a short period of time and you are encouraged to register immediately. Once you have registered, you are told to register with a broker, deposit the minimum amount and then make “lots of money”.

Something else that we usually see with these software offers are fake client testimonials. These are essentially snippets from verified “traders” on the platform that are singing the praises of the software claiming that they have made so much money from it with relatively little experience.

In the example above, we can see that the traders all look quite photogenic and the photos they have are well taken. There are also spelling mistakes in the testimonials which are not always the best sign. In reality, these are merely fake and should be a big red flag.

Best Binary Options Brokers 2020:
  • Binarium

    The Best Binary Options Broker 2020!
    Perfect Choice For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sing-Up Bonus Now!

  • Binomo

    Only For Experienced Traders!

In reality, the broker and the software provider are in cahoots and the moment after you have made your investment the software will usually underperform. All the broker has provided is a simple signal following robot that has a worse track record than a learned trader. This means eventually that you will lose your initial deposit to the delight of the broker and the software provider.

The Managed Account

This is usually another well known scam in the industry. It involves the broker offering the trader the services of some “professional” trader who can make them some really impressive returns on the platform trading. This service usually requires a hefty deposit from the trader.

They offer these returns in a “risk free” fashion and can guarantee it. In the same way as it looks unrealistic for the software, this should raise red flags. No trader can ever make such a guarantee. Trading involved risk and this means that nothing can be 100% guaranteed.

These managed account traders are usually colluding with the broker to get you to deposit there. They also embark on fraud by signing some sort of agreement with you where they agree to the payment of the funds at the end of the contract. This is not worth the paper it is written on.

Generally at the end of the investment horizon the trader will lose nearly all of your money in the account and disappear not to ever speak to you ever again. Unless you are 100% confident in the broker that you are about to use as well as the performance of the trader should you ever hand over your account details.

Rigged Platforms

A Binary Options scam that is usually used by the broker is a rigged platform. What this usually involves is a trading platform where the success rates of Binary Option trades are unusually high in trial sessions. However, these win rates reduce drastically once a real account is opened with money invested.

This is done by using platform risk limits. These risk limits are provided by the Binary Option platforms in order to help the broker limit large-scale illiquidity during severe market events

However, unethical brokers will use this tool to impact on traders win rates. When the traders are testing the software out, the broker will drastically reduce the limit. In real accounts, the broker will substantially increase the risk limit such that trades almost always end out of the money.

This is something that is usually hard to spot as you cannot know what success rates will be after investment. This is where broker reviews and research come in. If the broker has indeed tampered with the platform in the past then previous clients will have made news about it.

You can also test the effectiveness of the platform after making only an initial minimum investment and compare it to the performance on the trial version. If there appears to be a discrepancy then you should avoid investing any more money with the broker.

Refusal to Payout

One of the most blatant Binary Options scams is the refusal of brokers to payout a traders funds. We have heard a number of stories about brokers who have either being unresponsive to clients or those who have demanded onerous documentation and identifications.

There can be nothing more frustrating for a trader who has made a success of their investments than denied withdrawal privileges. These are usually also quite hard to identify without extensive research and a bit of testing.

If a broker has refused payouts to previous clients then the clients would most likely have talked about it on forums. If there is nothing available however, then you can do minor tests to determine the brokers trustworthiness. For example, you could deposit a minor amount and make a few trades. Then, you can request a withdrawal of your funds and see how the broker reacts.

If the broker dithers and makes excuses or requests a whole bunch of additional documents, then you know that it could be an issue going forward. If, however, the broker pays out with no questions asked then you know you have an honest one.

Signup Bonuses

Although not technically a Binary Options scam, signup bonuses can create issues for you when it comes to withdrawing your funds. Unlike a plain refusal to payout, signup bonuses are legally binding. You are obligated to trade a minimum amount (usually x times deposit) before being able to withdraw your investments.

That is not to say that a bonus cannot be advantageous for the trader. Assuming that the trader does intend to trade regularly and with volume, then the bonus could be a great way to do that. If you are uncertain about whether you want the bonus, then you should carefully read the terms and conditions that come with it. These will usually lay out the turnover requirements for the bonus.

It is important to note that there are other sweeteners such as “risk free trades” which are similar to bonuses in the sense that they allow you free trades. They will usually also have similar turnover requirements as those of bonuses.

Do Your Research

As any successful trader will know, research does not only start when you have an account and begin trading. It needs to begin when you are choosing your broker and testing trading platforms.

Apart from trying to avoid a Binary Options scam, proper research is needed for a number of other reasons. You would need to know whether the broker provides the desired assets and option types. You would want to find out the standard withdrawal times and the customer service. Essentially, you would be trying to understand whether this broker or service will indeed be the best investment possible with the available information.

If you would like assistance in choosing the best broker, the team at FXaxe has a number of broker reviews to choose from. You could also reach out to us via email to help you with your choice of broker.

Have you Fallen Victim?

If you are reading this and believe that you may have fallen victim to a scam, there are a few things you can do to avoid the risk of loss and possibly recoup any money that you have invested. Even if getting your funds back is not entirely feasible, you could still go a long way to warning potential new victims.

Despite the negative experience you have received from this broker or signal provider, you can’t give up on your quest to improve your trading and generate the required returns. Taking the following steps can help put the scammers out of business.

  • Keep all Records. The first and most important step in being able to prove your claims is having all of the documents that were sent to you by the scammers. These include Skype messages, Ts & Cs, emails, bank statements, bonus agreements as well as a history of your trading record. This information can no doubt be used against the scammers should you get a sympathetic ear.
  • Request your Funds. If you believe the broker has scammed you and rigged the platform, then you can request to have your funds sent back to you. The broker should honour your request. They may ask for identification and documentation to confirm that you are indeed who you claim you are. You will also need to make certain that you have not taken any bonuses when you signed up. For many of these bonus conditions, you are not allowed to withdraw until a certain trading volume has been met. If, however, the broker is still refusing a pay-out, he is doing so on illegitimate grounds and you should press him further.
  • Tell The Community. The Binary options community operates on trust. Other potential clients value the opinion of individuals who have traded with the broker. Make use of online forums and message boards. Let us at FXaxe know about your experience with the broker so that we can include it in any reviews. Many brokers know the damage a negative review can do to their image so there is the chance that the broker may relent if he knows you will harm his name. If the broker is one that cares about it, he will try and address your concern and refund you the money. When you are making these complaints, be sure to give as much information as possible and cover your bases. You do not want the broker to claim that you did not comply with certain terms even though you clearly did.
  • Follow the Money. Brokers, like any business, require you a payment provider to facilitate payments between them and the client. It is this payment provider which may be sympathetic to your cause. Assuming that you made the payment via credit card, you could contact your bank and request a charge back. You could tell your bank that you tried to contact the broker but they were not responding. Mention that is was fraudulent and unauthorised. If that fails, you could always reach out to the payment provider and tell them that the broker scammed you and is not refunding. In some cases, the payment provider may withhold any further funds from the broker until this is corrected.
  • Alert the Regulator. If all else has failed and the broker is still unresponsive and the payment providers and bank have been unable to help you, reaching out to the binary options regulator of the firm is your last resort. The regulator is the governmental authority which oversees the broker in the region which it operates. It is sometimes not always clear as many brokers are registered offshore and try to hide whether they are regulated or not. If they do claim to be regulated within the EU, then the chances are that they are covered by CySec (Cyprus Securities and Exchange Commission). If the broker is regulated and they value that regulation, they may try and address your concern should you inform them of your intentions. If they appear to be unregulated, you can contact your own country’s regulator and let them know that the broker was providing services in your country illegally.
  • Don’t give up. Although you may be tempted to give up in your quest for justice, it is important that you continue to push for justice. Brokers rely on having clients who do not follow up on dishonest practices. They then continue to operate without any sort of oversight. Eventually, if enough clients have the determination to chase the broker, it will either cease operations or reimburse clients. Indeed, this has happened with a number of Binary Option brokers in the recent past.

Trusted Review 2020

Table of Contents

Is a trusted online broker or a scam? – We will find out in this review and give you a professional overview of the company. is a well-known Forex Broker for international investments. Since 2000 the company got a track record in online trading. In the next sections, we will show you how the platform works and find out if you should invest your money or not.

Official website

Platform available for any device

Professional trading interface

Huge range of payment methods

Review: (5 / 5)
Regulation: VFSC, FSC, FSA
Demo account: ✔ Free
Minimum deposit: 5$
Minimum trade: 1$
Markets: Forex, Cryptocurrencies, Metals, Commodities, Indices, Volatility Indices
Products: Binary Options, Forex, Crypto, CFDs,
Yield: up to 100%+, 1000% on higher/lower and touch/no-touch trades
Support: 24/5 phone, chat, email in different languages

(Risk warning: Your capital is at risk)

Is regulated?

Before you sign up with any online broker you should check if the company is official regulated. This is the most important point to check and we will discuss it in the first section. Regulation means safety for the trader. On the internet, there are brokers which operate illegally and try to scam their customers. In order to invest in a serious company, there should be regulation.

A regulation shows trust and safety because the company has to be legal and act under certain laws of the regulatory authority. is a licensed and regulated trading platform which is active since 1999. Different subsidiaries belong to the holding Binary Limited. This company is multi regulated and got different licenses.

Binary Investments (Europe) Ltd

Binary Investments Ltd is regulated by the Malta Financial Service Authority (MFSA) with the license number IS/70156. The company is allowed to provide its service in every European country. The company address is W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta.

Binary (SVG) Ltd

Binary (SVG) Ltd is registered with the company number 25299 BC 2020. International clients who want to trade Binary Options trade under this license. The address is Hinds Buildings, Kingstown, St. Vincent and the Grenadines.

Binary (V) Ltd

Binary (V) Ltd is regulated by the Vanuatu Financial Service Commission (VFSC). International clients who are trading forex and CFDs in the MetaTrader 5 are managed under this license. The address is Govant Building, Port Vila, PO Box 1276, Vanuatu, Republic of Vanuatu.

Binary (BVI) Ltd

Binary (BVI) Ltd is regulated by the British Virgin Islands Financial Service Commission and customers for the forex and CFD MetaTrader 5 are under this license. The address is Kingston Chambers, P.O. Box 173, Road Town, Tortola, British Virgin Islands.

Binary (FX) Ltd

Binary (FX) Ltd is regulated by the Labuan Financial Service Authority in Malaysia. MetaTrader 5 clients are served by this license, too. The address is Lot No. F16, First Floor, Paragon Labuan, Jalan Tun Mustapha, 87000 Federal Territory of Labuan.

In conclusion, is a multi-regulated company and broker which accepts international clients. Fraud can be excluded by a view on these licenses. From our experience, shows that more than 1 regulation is not enough and now they are a highly trusted online broker.

Financial security: Is safe for traders?

Financial security:

How safe is the trading platform? – We checked the financial security for traders and got very good results. only uses regulated payment methods for deposits and withdrawals. You can be sure that the money will be credited to your trading account and the withdrawals are working correctly.

Furthermore, the funds of the clients are managed in secure and licensed financial institutions. The broker does not use your money to do investments or hedge positions. Any time you got the full access to your account balance.

Security of the platform and account:

With you can get very high account security. There are different options available which we want to present to you in this section. First of all, traders can enable two-factor authentication for the account. This is additional security because it is nearly impossible to hack your account. Before you login, you have to confirm the login with another device.

Also, Binary. com provides a clear login history of your account. You can set up a cashier lock password to secure your deposits and withdrawals. All in all, provides very good safety features for traders. From our experience, it is a very safe platform. (See the picture below for all features)

What is behind – History of the company was founded in 1999 by collecting investor’s money from a HongKong based fund management company. In 2000 the company goes live with the old name “” and “”. Since this time the company achieved different milestones and attract a rising customer base.

On the website, you can clearly see the group history which is very amazing. The company expanded internationally and collected different licenses for financial trading to serve clients from over the world. In addition, their platform is patented in the USA for the pioneer of Binary Options trading (Wikipedia).

2020 the company changed the name into “” and reached a turnover in 2020 of 2 billion USD since 1999. More and more customers want to trade with because the platform is unique and offers very good conditions. Nowadays, manages offices in Japan, Kuala Lumpur, Dubai, Paraguay, and more countries.

In 2020 there are more than 100,000 active clients on the platform and the numbers are still growing. In conclusion, is a very trusted broker in the trading industry which is leading the binary trading section. The broker is growing continuously because of the good conditions and unique trading platform. The company always adds new features and opportunities to invest in the financial markets.

Facts about the company:

  • Founded in 1999
  • International offices and licenses
  • Rising customer base
  • Unique and patented trading platform
  • Global awards

How to open an account with

It is quite simple to open a trading account with You can sign up with your email address or social profile (Google and Facebook). The process is done in a few seconds and you get direct access to the trading platform. Now you can use the demo account with virtual money or continue the registration process.

Open your free account

The account opening is free for any trader. There are no hidden fees or commissions for you:

(Risk warning: Your capital is at risk)

Important verification process

For trading with real money and full access to all functions of the trading platform, verification is needed. You have to fulfill your account profile and upload personal documents that are checked by It depends on your country of residence which documents the broker needs to check your identity. can request a copy of your passport and utility bill.

The account setup is done in a few minutes. Just insert your personal data and upload the requested documents. will confirm the profile within 24 hours. We recommend doing a full account setup before you start trading with real money.

Verification of your identity:

  • As regulated Forex Broker, the company have to check your identity
  • Documents can be requested by
  • The account setup depends on you country of residence
  • Upload the requested documents
  • The full account setup take few minutes time
  • We recommend doing the verification before trading with real money

Use the free demo account

One of the most important tools on the trading platform is the demo account (virtual account). It is an account with virtual money (10,000$). This account allows you to test the platform without risk. provides this account for free and you can switch between the real money and virtual money with only one click.

We recommend to any new user who wants to trade with to use the demo account first. Check out the platform and open your first traders. Before you invest real money you should know how it works to trade and how to manage the trading platform. In addition, the demo account can be used to develop trading strategies and test new markets.

In conclusion, offers a free demo account like any other broker. You can start trading without risk and test the platform by yourself. If you make a loss it is possible to deposit (recharge) the account.

Advantages of the demo account:

  • Use it for free
  • Test the platform without risk
  • Develope trading strategies
  • Try out new markets
  • Recharge the demo account with one click

Demo account vs. real account trading

Are the differences between the demo account and the real account? – From our experience, the execution of trades is very fast in the demo account like in the real money account. There are no differences between these two account types. You will get the same conditions.

In fact, real money trading can be more difficult because you will act differently like it is virtual money. The key to success is to learn to trade without emotions like in the demo account. As professional traders we recommend it to use the demo account like the real money account to gain the best experience in trading.

Payment methods for the account funding:

As you see on the official homepage of there are more than 15 payment methods available for deposit and withdrawals. It is easy to fund your account. You can use different electronic methods or classic bank transfer.

Sometimes the payment method can depend on your country of residence. So do not be surprised if there are more or fewer payment methods available than in the list below or picture above. Note that the minimum deposit is 5$ with e-wallets but with other payment methods it can be higher.

Facts about the payment methods:

  • Minimum deposit 5$
  • No fees
  • Credit Cards
  • Electronic wallets (Neteller, Skrill, Qiwi, WebMoney, and more)
  • Bank Transfer
  • Instant deposits
  • Withdrawals in 1 working day
  • Cryptocurrencies

How to deposit on

To do a deposit on go to the cashier menu and click on deposit. You only can deposit if your personal detail is approved by the broker.

You can deposit in different currencies. Also, cryptocurrency accounts are available with If you make a mistake by setting the currency it is possible to change it afterward.

Deposit checklist:

  1. Make sure your personal details are confirmed by the broker
  2. Go to the cashier menu
  3. Click on deposit
  4. Choose the payment method for the deposit

How to do the withdrawal:

The withdrawals are easy as the deposits with the broker In the cashier menu, you can choose “withdraw” to pay out your earned money. Note that you can set up a different security password for the cashier menu.

From our experience, the withdrawals are very fast. Within one day the withdrawal is processed. You will get an email if it is processed. Sometimes it can happen in a few hours. On the other side, the process can be longer if the broker requests additional documents from you. All in all, the deposits and withdrawals are working correctly and free from interference.

Offers for traders: Review of the trading conditions

Before we show you the full information about the trading platforms of we have to talk about the offers and conditions for traders. As you know is a Binary Options, Forex, and CFD Broker. In this section, we will give you a detailed overview of “what you can trade on the platforms”.

The minimum deposit is only 5$ and you can try out the free virtual account. The virtual account is the best way to test the trading platform. There are more than 100 different assets available by Cryptocurrencies, indices, commodities, currencies, or volatility indexes are tradeable. In addition, you can choose between different currencies for your real account balance or using cryptocurrencies.

The maximum return of investment for Binary Options is 100%+ and the maximum leverage for Forex and CFDs is up to 1:500. From our experience, there are no direct fees on the platform. Sometimes it can happen that your payment provider charges fees for deposit or withdrawal.

Trading conditions:

  • Return of investments up to 100%+ (Binary Options)
  • Leverage up to 1:500 (Forex and CFD)
  • More than 100 different markets
  • Minimum deposit 5$
  • Free demo account
  • Low fees compared to other brokers
  • High liquidity

(Risk warning: Your capital is at risk)

Test of the trading platforms

For professional online trading, offers 6 different trading platforms. This software is even available as an app (mobile trading). The platforms are designed for a variety of purposes and the trader can choose from. As mentioned before it is possible to trade different financial products with You can not trade all financial products on one platform.

From our experience, the platforms are very clearly designed and easy to use. They are for beginners and advanced traders. Besides, the well-known MetaTrader 5 is available for Forex and CFD trading. Automated trading can be processed by the Binary Bot which is a very unique platform. We will discuss the trading platforms in detail.

Trading platforms:

  • SmartTrader for Binary Options and Touch Options
  • WebTrader for Binary Options and Touch Options
  • Binary Bot for automated Binary Options
  • MetaTrader 5 for Forex and CFD trading
  • Deriv for Binary Options (beta version)
  • Binary Grid for the best mobile trading with Binary Options


The SmartTrader is a reliable trading platform for Binary Options. You can trade options with different expiry times, investments, and on rising or falling prices. In the picture above you see a screenshot of the order mask. For chart analysis, you have to look below. The design is very clear and the beginner should feel comfortable. In the following section, we will explain how to trade too.

For charting, you can use the chart below the order mask. offers the tools which a trader needs for his success. You can change the timeframes and chart types.

Chart types:

For the chart analysis you can use indicators, drawing tools, comparisons between assets, or fundamental data. By a few clicks you can insert the indicator you want and customize it. In conclusion, the SmartTrader which is recommended for beginners offers all tools for professional and sucessfull trading.

How to trade Binary Options?

Binary Options is not a complex financial product. Compared to other financial product traders understand it very fast how it works. The features of Binary Options are clear and limited. Before you open a position you know the possible return of investment, your possible loss, the time duration and the direction of the trade.

Binary Options:

  • Rise/Fall (classic and most popular)
  • Higher/Lower
  • Touch/No Touch
  • Ends Between/Ends Outside
  • Stays Between/Goes Outside

Binary Options can be traded on currencies (Forex), indices, commodities, and volatility indices. Before you start trading you can customize your trading contract. The Binary Options is a contract between the trader and the broker.

Features of Binary Options:

  • Start Time
  • Duration (ticks, minutes, hours, days)
  • Investment (starting 1$)
  • Allow equals or not
  • Trade higher or lower

We recommend to do some test trades with the demo account before trading with real money. You should understand the financial product completly before real investments. The next picture will give you a deeper look in it.

In the picture above you see that you can invest in rising or falling markets. For “Higher” trades the exit spot has to be above your entry point and for “Lower” trades the exit spot has to be below your entry point. Just make a forecast of the market and start the trade.

Exit Spot:

For Binary Options only the exit spot is important. When the expiry time is over the price will be checked and you will get the payout or not. The yield can be up to 100%+. It does not matter if the price goes above or below within the contract duration.

All in all, Binary Options are very simple to trade. It is a popular financial product because you can earn a very high payout within a short period.

(Risk warning: Your capital is at risk)


If you want to do more advanced trading you have to choose the WebTrader. This software allows you multi-charting and a full-screen mode. More features are available on the platform. You can customize your trading window as you want.

Traders can choose in the upper menu between trade, chart, resources, and workspace to customize the platform. As you see in the picture above you can open different windows at the same time. This is a multifunctional feature and allows you to make a deeper market analysis. In the next point, we will give you a quick overview of the functions.


  • Open the order mask for your markets
  • Forex
  • Indices
  • Commodities
  • Volatility Indices


  • Open the chart for your markets
  • Forex
  • Indices
  • Commodities
  • Volatility Indices


  • Make a deeper analysis
  • Asset Index
  • Trading Times
  • Historical Data
  • Chart Themes


  • Manage the charts
  • Arrange the windows
  • Close All

As you see in the points above you got a whole bunch of options for your trading style to customize. From our experience, the WebTrader is the best platform for Binary Options trading and better than the SmartTrader.

Binary Bot:

The Binary Bot is a unique feature of Most brokers do not allow automated trading on their platforms or it is not possible because the features are missing. provides software where you can program your own automated system for trading Binary Options.

For the first impression, the Binary Bot is not a trading platform for beginners. You need knowledge, math, and programming skills. In addition, your strategy should work successfully. It is possible to create an automated system with any trading strategy by the Binary Bot. You can use math and logic commands on the software. will help you to program a system. There are some tutorials and knowledge about it. For further knowledge, you can read on the internet about automated trading or buy some programming books. The language of the Binary Bot is very easy but very hard to understand for beginners.

Create your Binary Bot

How does the Binary Bot work?

To create you automated trading system you have to open the right menu (red marked). There are different building blocks which you can insert in your system. There are mathematic and logic building blocks. Also, text programming can be used to create functions. If you inserted the block you can customize it like you want.

If you created the Binary Bot you can start to backtest it and improve the results by changing the system with a few clicks. The Binary Bot is clearly a huge advantage against other Forex Brokers because it is very easy to create an automated system. provides you all the functions you need to create your system.

MetaTrader 5:

MetaTrader 5 is the most popular software worldwide for online trading. A lot of brokers offer this software because it is developed independently by programmers. Brokers are paying licenses for this software. The MetaTrader is available for your computer and mobile phone. You can create the account with and download the program.

Moreover, MetaTrader 5 is a highly customizable software too. You can customize the chart as you want and using different tools. The software is supporting Forex and CFD Trading. 1-click trading even as automated trading is possible. There are a lot of different tools that you can individualize.

For traders who want to program their own indicators or automated systems, you can insert them easily in the software. The MetaTrader is enjoyed by millions of traders and it is from our experience the best software for forex and CFD trading.

Advantages of the MetaTrader 5:

  • Available for any device
  • Automated trading supported
  • Customizeable
  • Indicators and drawing tools
  • Chart types
  • Insert extern programs and indicators
  • Professional portfolio management


Deriv is a web-based online trading platform where you can trade Binary Options. Compared to the SmartTrader and WebTrader the design is a little bit different and known from other Binary Options Brokers. You see the chart which is customizable and next to it you see the orde mask.

Like the other platforms, you can customize the chart as you want. There are not so many differences between the platforms. We recommend to try out each platform by using the virtual account. The Deriv app is still in the development process. So it can be that will add new features soon.

Mobile Trading with the App

Mobile Trading is very important today. The customer base who trades with mobile devices is rising continuously. offers different apps for Android and Apple (iOS) devices. You can download the on their platform. apps:

  • Tick Trade App
  • MetaTrader 5 for mobile devices
  • Binary Grid App MetaTrader 5 App

The mobile apps are professionally designed and allow you to trade the financial markets with your mobile phone or tablet. Similar to the web-based platforms you can use indicators and analysis tools. With the mobile app, you always can check your portfolio. Another advantage of mobile trading is that you can react immediately to political decisions or news. In conclusion, offers professional and reliable trading platforms for trading Binary Options, Forex, CFDs, indices, and cryptocurrencies.

(Risk warning: Your capital is at risk)

Support for traders

Which type of support can you expect from – There is a phone, email, and chat support for traders. Also, you can get in touch with the broker via Youtube, Facebook, Twitter, or Telegram. More than 10 different languages are available because the company manages international employes and offices. The website is translated into 11 different languages

The support works 24 hours on regular working days and responds very professional to my questions. If you got questions you can contact them or read through the help articles. Moreover, there is an intelligent support system where you can insert your questions and get the right answers very quickly.

Support: Available: Languages: Languages:
Phone, Chat, Email 24/5 on working days More than 10 +44 800 011 9847 (Toll-Free) (UK)

Service for traders: Education and learning material

Furthermore there is a diverse learning center for every customer of It is suitable for beginners and advanced traders. The variety of free offers is huge and we will show you what you can learn in this section.

To get access to the academy you have to open your free account with Deposits are not necessary for access to the academy. There are different offers like webinars, trading signals, beginner tutorials, e-books, and market updates. You can learn how to trade with educational videos. Also, next on the platform, you will find direct explanations of the financial products which will help you to understand it.

From our experience, wants the success of its traders. If the trader is successful the broker can earn more revenue because the trader will continue to trade forever. There is a very good educational material to improve your trading skills. You should no miss the education center.

Learning material of

  • Live Webinars
  • Weekly Trading Signals
  • Beginner tutorials
  • E-Books
  • Security Tips
  • Educational Videos

Conclusion of the review: Legit company and online broker?

All in all, is the leading broker for option trading. In addition, you can trade Forex and CFDs with the MetaTrader 5 Platform. The company offers you a huge range of investment possibilities which we recommend to test by using the demo account.

The minimum deposit is very low by 5$ and you can start investing with only 1$ per trade. There are no limits for bigger trades. attracts any type of trader because of its good offers. Next to the professional trading platforms, you can use legal automated trading which is compared to other Forex Brokers a big advantage.

Furthermore, company history shows us that is a trusted and reliable broker. The company expands continuously and implement new features. It is a fully regulated broker which we recommend to trade with.

Advantages of

  • Multi-regulated company
  • Small minimum deposit of 5$
  • Free demo account
  • No hidden fees
  • Return of investments up to 100%+
  • Forex and CFD Trading
  • Professional trading platforms
  • Automated trading

7 Binary Options


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The vast majority of binary options trading scams will start well before even the trader manages to open their account with the brokerage. The promotional videos are what gets many people hooked. The video about the signals or the robot (whichever they are peddling) makes things look very simple.

Here is how the scam works in a nutshell:

  • A group of scammers set up a website that looks and feels like a legitimate binary options trading broker.
  • The scammers then create a makeshift trading signals software and slap a 100% trading accuracy claim on to it.
  • As soon as traders join the scam, they lose the initial deposit which is usually set at $250.
  • After that those traders will receive a phone call from a so-called ”senior broker” who will ask them to invest $5000.

Any and all amounts deposited will disappear and you’ll never be able to withdraw them.

The Demo Trading Account

We always recommend that traders should stick with trading via a legitimate and highly regulated broker. That broker should also offer you a free demo account.

When it comes to Forex, Crypto or CFDs brokers, IQ Option is regarded as being one of the best as they are licensed in Europe. Plus, traders can signup to get a free trial of their platform.

How To Steer Clear Of Binary Options Trading Scams?

Research is your best weapon against binary options trading scams. You should research the broker properly. However, you’ll need to move beyond the majority of review sites as they just provide you with basic information.

Picking a regulated broker is a good way to safeguard your funds

The most important things you should check is:

  • If the broker has a license from a financial regulator like the FSB, ASIC, FCA or the CFTC.
  • Does the broker continuously call you to deposit money into the trading account?
  • If the broker has a mechanism in place that protects investors from your part of the world?
  • Check the history of the broker to find out if they have been fined for unethical practices by a regulator?

The next step is to shortlist and pick the best robot or trading signals system:

  • You should never use a broker, robot or a trading signals software which asks that you make a deposit before ever seeing the interface.
  • Never choose a trading signal if it does not fit your style or trading strategy.
  • Any software that you use to create the account can also be used to place trades via the account.
  • If there is a binary options forum make sure to read through the discussion there.
  • Keep in mind that historical performance does not guarantee similar future results.


We know more than anyone else that binary options trading scams are very common. So, its imperative to carry out your own research and go beyond just getting excited about a $1000 bonus. Plus, for every binary options broker that you find out about, there are many others that offer the very same features and probably at a lower price.

Carry out your due diligence to find out what it is the requirement for the broker to be regarded as the best in the industry. Also, try to choose a broker that’s licensed locally and is regulated locally because that way your investment is protected.

Are Binary Options a Scam? In Which Country it’s Legal? Know More

A binary option is a financial option in which payoff is a certain fixed amount or nothing at all. Though binary options can be traded through regulated or unregulated forms of trading, however they are prone to internet fraud.

Many binary options brokers are also exposed to questionable operations over internet to ensure that they are following regulated practice of trading. Is binary option really a scam? Well, the answer is yes it can be. There is not denying the fact that binary options is one of the most lucrative financial investment or gamble that can payoff really well if it works but there are always risks involved in any investment.

Matters related to money are always vulnerable to scams and binary options scams are becoming a common occurrence these days. Therefore it is important to choose a broker who is locally licensed and regulated. Are you planning to invest in binary options and want to know more about its legal information? Find out the truth here.

Binary option is one of the most popular ways to perform trading these days. People are easily fascinated with binary option mainly because of hundreds of binary option brokers available online. The trades in such options can be easily placed from computers to mobile phone.

Due to so many complications involved in binary options, many people are concerned about knowing whether it is legal or not. The key point to notice here is that many countries have a regulatory license under which brokers can operate while other countries have not yet placed any regulation on its running. Hence in some countries, binary option is completely legal and regularized while in others, it is either in transitional state of getting regulated or there is no regulation involved at all.

Europe, UK, Australia, South Africa, Singapore, Canada or US citizens must not worry about the legality of Binary option. The main regulatory bodies based within the countries provide a certain license of operation which enables individuals to trade in it. When a binary option broker is regulated then he/she has to work under the laws set by Country. The license under which option brokers operate is CFTC (valid in USA) and CySEC (valid in Europe).

What kind of restrictions is imposed on Binary option trading?

Most of countries have restrictions on amount of money or transactions done abroad and also deposit of money with binary broker. To ensure that the market is completely regularized some governments also block websites that don’t provide clear information or adhere to online certification and regulation.

Binary options trading are high risk gambling method and sometimes are also associated with investment. Due to the transactions involved and inclusion of third party transfers it is considered illegal in some countries like India or other Asian countries. It is a non-bail able offense in some countries as well. Nonetheless, no restrictions have been imposed regarding to trading on individuals in any country. Law prohibition can’t be easily imposed unless certain legal financial tools are defined.

It is easier to say that legality is somewhat linked with regulation. If any investment or trading is regulated by governing body of country then it makes it easier to legalize it as well. Most of the binary options trading are done online using internet based trading platforms and most of the brokers are working offshore.

In case of any legal issues with binary option broker, one can file a civil complaint. However, while filing a complaint it is important that individuals make choice of legal and legit company that can be questioned by law for not complying with regulations or entering into fraudulent methods.

How to know if you are dealing with legit binary option broker?

When you are planning to buy a binary option, it is important to understand which option you are about to choose. If you have already started trading binary option online then you must check few below points and scrutinize properly so future financial decisions can be taken properly.

  • Search online for reviews: In case some people have lost money to a broker then he/she will definitely express views/negative comment on any platform. Performing extensive search online about the broker is the best thing one can do and know about the broker.
  • Look for warning: Many regulatory bodies of countries also issue investor alert in order to warn investors about any new fraudulent companies, promotional schemes or binary options using new trading pal.
  • License and regulation: One of the key aspects of any binary option broker is to look for license of broker and regulatory authority if any in the country. If you are able to find the broker online operating under legal license then you don’t have to worry about legality.
  • Independent broker reviews and comments: Even binary option broker post about their reviews and comments online. Reading comments from brokers or other people in community can give you an estimate about the binary option broker you are about to choose.


Yes, Binary option is legit but you need to be careful before choosing an online binary option. Lots of scams come up and take advantage of people entering for the first time. However, this can be easily avoided by being proactive and conducting appropriate research of brokers and companies you are considering dealing with.

Best Binary Options Brokers 2020:
  • Binarium

    The Best Binary Options Broker 2020!
    Perfect Choice For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sing-Up Bonus Now!

  • Binomo

    Only For Experienced Traders!

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