There's no harm done when we (legit binary options traders) expose those who are trying to make the market filthy and unbearable for all.

Newbies in the industry easily give in for these kinds of scams and our aim is to totally eliminate and possibly wipe them out by exposing their dark sides so that every level of trader will have first hand information on how these binary options scams operate.

There are many legitimate binary options brokers out there as well as a hand full of scam brokers and fake signal services.

These fake brokers and signal services are just trying to ruin the good reputation people have about the industry by promising mouth-watering bonuses (for brokers) and unimaginable profits and returns (for signal services) when you join their train.

List of Scam Binary Options Brokers. *(Do Not Register An Account With Any of Them)*
1. OptionsXO
2. OptioNow
3. EZ Binary
4. XB24
5. Safe24Options
6. TraderXP
7. Banc De Swiss
8. OptionsXO Amber Options
9. Vault Options
10. Option Rally​
11. Royal De Bank
12. Golden Binary
13. OptionMaker


And List of Fake Signal Providers/Services *(Do Not Subscribe to or Join Any of them)*

1. Hercules Profit Pro
2. Insured Profits
3. Tokyo Bot
4. Wealthy Trader
5. Legal Insider Bot
6. The $100K Club
7. The 1 Percent Club
8. Daily Binary Profits V7
9. The Covert Society
10. Oz Robot
11. Golden Goose Method
12. Binary Chaos
13. Commodity Robot
14. German Binary Matrix Pro
15. Millionaires Club
16. Safe Trader App
17. Secret Millionaire Society
18. My Cash Bot
19. Daily Results
20. The Binary Redemption
21. Swiss Binary Robot
22. Secret Wealth App
23. 2014 Millionaire Launch
24. Crisis Killer
25. Desert Millionaire
26. Ataraxia 7

Why all these Scams?


As the Binary Options method of trading is still fairly new, it has become a fertile ground for scammers to thrive.

This is because many people have little or no prior knowledge on how trading binary options works and so easily fall for scam products.
Being more in number than the real brokers and signal services, it is also relatively simple for any newbie to fall for these scams.

Binary Options is gaining popularity day by day and it's opposition, the Forex market is dwindling as time goes by (See images below).





So, this is why we can see more scams pop-up every day in binary options niche rather than Forex.

Many traders have unknowingly fallen into the hands of either scam brokers or signal services all in the name of "trading binary options profitably".

No matter the type of broker, all of them would require you deposit in order to start trading but only legitimate brokers will allow you to withdraw your funds without any stress.

The scam broker does almost everything a legitimate broker would do in order to satisfy their clients except of course, during withdrawal of funds.
One sure way to detect binary options scams is to conduct a search online on any search engine with the keywords "Company name + scam" or "Company name + reviews" without quotes.

Read as many reviews and testimonials as possible from various clients expressing their views about the Company on different review sites before buying any binary software or depositing funds into any broker.
Other minor qualities that may help you suspect the Company in question are:

General:

1. Lack of good customer support
2. Low quality website design
3. Suspicious video testimonials
4. Non-secured website (i.e. Absence of SSL certified website)
5. Not Regulated by well-known Organizations
6. Mouth-Watering Bonuses

Domain Related:

1. New Domain Name
2. Alexa Ranking
3. Domain Age


Best Recommendations:

1. Don't Deposit more than you can afford to lose with any broker. Always start with the minimum amount the broker recommends so as not to lose much assuming they were to be scam.
2. Always research online for a particular broker or signal service before joining.
3. Even if your trading is good and you're making nice profits, always do a test withdrawal before depositing more funds. This is to verify the credibility of the broker.
4. Do not buy any binary options signal software without being confident that the product actually works. Please always visit this page to find the updated list of scam products in the market.
5. If a program looks too good to be true, conduct further research to verify the authenticity of the program.
6. Do not give out your social security number or any other sensitive information like PayPal email and password to unknown persons even if they were requested by the Company itself.
7. Logically, you should run away from sites claiming you could make up to $1 Million per day trading binary options
8. If you've been scammed and you have proofs to show that you you didn't receive the services promised by the vendor, you can file a dispute against them with either PayPal or your Credit Card Company depending on the method of Payment.

If you know of any Binary Options Scam Product, Broker or Software, Kindly let us know so we can update our list and help others.

Credit: List of Fake Binary Options Brokers, Signal Providers and Products​.

Please, how do I know the name of the broker I am dealing with. because I just opened an account with one and have deposited money twice with them because i have all my investment twice. I beginning to suspect them. Please I need more info. my email is imakulato@gmail.com

imakulate:




Please, how do I know the name of the broker I am dealing with. because I just opened an account with one and have deposited money twice with them because i have all my investment twice. I beginning to suspect them. Please I need more info. my email is imakulato@gmail.com

Must you quote the whole post before you comment? Some people sef ehn...

Thanks for this info. Same with football betting. People are heavily losing money to the likes of Nairabet, 1960bet, Merrybet and co. Betting at all is for the rich.

Trut:

Must you quote the whole post before you comment? Some people sef ehn...

Sorry if my quote offends you. I am still trying to learn how to make a short quote of the thread but could'nt. Could you teach me?

imakulate:




Please, how do I know the name of the broker I am dealing with. because I just opened an account with one and have deposited money twice with them because i have all my investment twice. I beginning to suspect them. Please I need more info. my email is imakulato@gmail.com

Are you talking about a binary options broker? I wonder how you can deposit money into a broker you don't know the name. Anyway, to know the broker's name, visit their site to find more information about the company or contact their live support and ask of the company name.

Before you deposit money into any broker, make sure you apply the rules i put forward in the post above because there are many scam brokers and signal providers flying around the internet looking for who will be their next victim

Ayo001:
Thanks for this info. Same with football betting. People are heavily losing money to the likes of Nairabet, 1960bet, Merrybet and co. Betting at all is for the rich.

Yes. I know people are losing money in many online betting systems just like binary options. I wonder why someone would believe he can use N10,000 to make N1,000,000 in two days all in the name of betting.. It's just insane

I just updated the list with many more fake signal services. DOn't register with them! They only want your money...

Which are then the genuine signal providers?

lordaustin:
Which are then the genuine signal providers?

Unfortunately, they are only few in the whole binary options market.

I can only recommend those ones I've personally tested and are sure it works. They are: Mike' Auto Trader (Free), Option Bot 2.0, Trade4me.

Find more info about them here: Best Binary Options Signal Providers

Thanks for these infor
Pls do u know genuine online forex signal privider.
Is ther any?

Gud info.

I want to learn binary option. I have some experience in forex trading. Pls how can I get started.
Thanks.

isaco:
Thanks for these infor
Pls do u know genuine online forex signal privider.
Is ther any?

Yes there is. I can suggest 35pip.com or Fapturbo robot for automated fx trading.

kunletoks:
I want to learn binary option. I have some experience in forex trading. Pls how can I get started.
Thanks.

It is easy to get started since you have some experience already from fx trading. You can use binary option signal providers for beginners to get started while you learn the main startegies used for trading at binaryoptionschannel.com that is if you want trade all by yourself.

noted

Binary options. I still cant make a consistent profit on binary.com(former betonmarket.com). Unlike forex, binary options 50,75,25 and 100 dont seem to have a clear cut fundamental analysis of the market. Yes,you use some indicators but i cant seem to have a way of analysing the market using real life market indicators, economy, news etc to guide myself in making an informed decision. Untill binary starts implementing forex instruments,such that i can close market and get my profits like binary 75,25,100,50,i will stick to my forex. However,i must say binary.com has made a lot of improvements on stocks,commodities trade.

OP, thanks for this expose.

jamace:
OP, thanks for this expose.

You're highly welcome.

Good day all,
permit me to paste this here.

https://www.nairaland.com/1927918/ecrestglobal-e-currency-exchange-customer-support

Check it out.

Kind regards.

kunletoks:
I want to learn binary option. I have some experience in forex trading. Pls how can I get started.
Thanks.

Hello traders, am sure some of us are really making profits trading binary options. I was here some time ago to share a secret indicator code which I used to rip a lot of profit trading binary option daily and only few people benefited from it. Anyways am here again to share a custom MT4 indicator to only 5 serious traders here. The indicator uses the Fibonacci principle of support and resistance line. It gives you spot for a Rise signal (green arrow) and fall signal (red arrow). In short you can see below the number of trades I got within this short period trading today below…
[img][/img][img][/img]

I enjoyed trading binary options daily because this indicator makes it fun for me. I will be giving it out to only 5 serious trader that want to boost their profits daily. It goes for a token of 5k. Contact seuntoyo@gmail.com if interested. Please I will not be giving it out from Friday 24th October; I only want few serious traders to have a feel of this awesome indicator. So hurry while am still happy sharing it.

[img][/img]

Hello traders, am sure some of us are really making profits trading binary options. I was here some time ago to share a secret indicator code which I used to rip a lot of profit trading binary option daily and only few people benefited from it. Anyways am here again to share a custom MT4 indicator to only 5 serious traders here. The indicator uses the Fibonacci principle of support and resistance line. It gives you spot for a Rise signal (green arrow) and fall signal (red arrow). In short you can see below the number of trades I got within this short period trading today below…


I enjoyed trading binary options daily because this indicator makes it fun for me. I will be giving it out to only 5 serious trader that want to boost their profits daily. It goes for a token of 5k. Contact seuntoyo@gmail.com if interested. Please I will not be giving it out from Friday 24th October; I only want few serious traders to have a feel of this awesome indicator. So hurry while am still happy sharing it.

seuntoyo:


Hello traders, am sure some of us are really making profits trading binary options. I was here some time ago to share a secret indicator code which I used to rip a lot of profit trading binary option daily and only few people benefited from it. Anyways am here again to share a custom MT4 indicator to only 5 serious traders here. The indicator uses the Fibonacci principle of support and resistance line. It gives you spot for a Rise signal (green arrow) and fall signal (red arrow). In short you can see below the number of trades I got within this short period trading today below…
[img][/img][img][/img]

I enjoyed trading binary options daily because this indicator makes it fun for me. I will be giving it out to only 5 serious trader that want to boost their profits daily. It goes for a token of 5k. Contact seuntoyo@gmail.com if interested. Please I will not be giving it out from Friday 24th October; I only want few serious traders to have a feel of this awesome indicator. So hurry while am still happy sharing it.

[img][/img]

Please open your own thread. Don't litter mine with your offers.

seuntoyo:
Hello traders, am sure some of us are really making profits trading binary options. I was here some time ago to share a secret indicator code which I used to rip a lot of profit trading binary option daily and only few people benefited from it. Anyways am here again to share a custom MT4 indicator to only 5 serious traders here. The indicator uses the Fibonacci principle of support and resistance line. It gives you spot for a Rise signal (green arrow) and fall signal (red arrow). In short you can see below the number of trades I got within this short period trading today below…


I enjoyed trading binary options daily because this indicator makes it fun for me. I will be giving it out to only 5 serious trader that want to boost their profits daily. It goes for a token of 5k. Contact seuntoyo@gmail.com if interested. Please I will not be giving it out from Friday 24th October; I only want few serious traders to have a feel of this awesome indicator. So hurry while am still happy sharing it.

Please open your own thread. Don't litter mine with your offers.

jonnyboi:
This is a wonderful eye opener to those who are still new as well as old traders too. What about AZBINARY.COM are they ok? though i trade with binary.com and i have withdrawn over $2000 from them. I have good trading tool as you can see below

According to what i have already explained in this thread, there is an 80% chance that new brokers are likely to be scams. AZBINARY.COM is a new broker with alexa ranking above #2 million.
I'm still wondering how you found this company but it has served as a perfect example for the illustrations i gave in the thread above.
Please desist from new brokers until they gain enough reputation to be trusted.

Val22:


It is easy to get started since you have some experience already from fx trading. You can use binary option signal providers for beginners to get started while you learn the main startegies used for trading at binaryoptionschannel.com that is if you want trade all by yourself.

Pls which broker do you use.
I will like to demo trade before going live.
How do you trade, do you use signal generating any or u study uur cchart.
Thanks

kunletoks:


Pls which broker do you use.
I will like to demo trade before going live.
How do you trade, do you use signal generating any or u study uur cchart.
Thanks

I use BeeOptions broker. I don't think you'll be able to demo trade as most brokers don't allow demo trading. However, you can still search for a broker that allows vtrading with virtual funds, am sure you will find one.

I use signal providers for trading and not chart reading.

@ OP Sir,
You have really done a good work here, i am totally impressed, May God Continue To Bless U.
I have been scammed a lot both directly and indirectly as a result i have decided to learn this binary trading but i am a complete novice, i have not ever place a trade. How can you teach,mentor, guide and guard me?
I have read about the three tested softwares how can you assist me to use them.
Kindly include binary goal broker and getrichinseconds signal provider. Beware of Stan Lutz and Richard Morrison.
Please can i have your contact?
My mail is a4labi2013@gmail.com.
I really need your help and assistance urgently.

Guarantor:
@ OP Sir,
You have really down a good work here, i am totally impressed, May God Continue To Bless U.
I have been scammed a lot both directly and indirectly as a result i have decided to learn this binary trading but i am a complete novice, i have not ever place a trade. How can you teach,mentor, guide and guard me?
I have read about the three tested softwares how can you assist me to use them.
Kindly include binary goal broker and getrichinseconds signal provider. Beware of Stan Lutz and Richard Morrison.
Please can i have your contact?
My mail is a4labi2013@gmail.com.
I really need your help and assistance urgently.

Hello,

Thanks for that nice update. I'll look into the signal providers you've provided and once they fit into any of the scam descriptions above, i will add them to the list.

You can always PM me or use my contact details located here for other enquiries.

Val22:


I use BeeOptions broker. I don't think you'll be able to demo trade as most brokers don't allow demo trading. However, you can still search for a broker that allows vtrading with virtual funds, am sure you will find one.

I use signal providers for trading and not chart reading.

Your website is down. I can't get your contact.

kunletoks:


Your website is down. I can't get your contact.

Sorry for that. It was in maintenance. You can check now. Thanks.