Thursday, December 12th, 2013 by Michael Freeman
Thank you for visiting my latest article on the Top 3 Binary Options Scams for 2013! It’s not a very honorable achievement obviously, but I guess it’s something, right! So without further ado, I would like to introduce Sycamore Options, Banc 54 and Global Trader 365, for they have successfully made it ‘crystal clear’ that what ever money gets it, never gets out! Unfortunately for them, ‘whatever goes around comes around’ and the Idiom will eventually catch up with them sooner or later. So let’s consider the main factors that landed Sycamore Options, B54 and GT365 on this Top 3 list.
How did they make it on the Top 3 Binary Options Scams ?
If you Google the names of any of the 3 brokers you will find that they are black-listed on multiple sites and it’s not hard to track down these sites. Just Google search the names of these companies and you’ll be blown away by the number of negative reviews, comments, Youtube testimonials and Scam Reports on all over the web.
The reviews indicate that these the Top 3 Scam Brokers operate in the most fraudulent way, refusing withdrawals, blocking user accounts, charging credit cards without the clients consent, alluring traders with bonus offers in exchange for a much higher investment, not answering phone calls and unfortunately the list goes on and on. I wouldn’t mind working with a specific broker, if the number of negative reviews was smaller and the reviews were on minor issues and dislikes, however, when traders report cases in which they were scammed for hundreds of dollars and in some cases thousands of dollars, it becomes troubling as you grasp the level of fraud and type of shady practices, being implemented by these ‘so-called’ binary options websites.
Sycamore Options, Banc 54 and Global Trader 365 received the highest number of complaints in 2013! If you have any experience with these brokers please share it below.
How to recognize Binary Options Scams?
It’s actually really easy! It doesn’t take a ‘Rocket Scientist’ or a PHD to figure this one out. Just Google search the company and filter out all the fake reviews in the process. There’s no need for a 5 step manual on how to find out if the broker you are potentially going to invest you money with is a scam or not. If you are interested to confirm the broker’s popularity you will find Alexa.com to be a very handy tool to accomplish a thorough background check and as it shows you the relative popularity of websites and using this tool you can also figure out how long they’ve been in operation, as you get an insight to ‘when’ the website initially started getting new visitors.
Are there any Legit Binary Options Brokers out there?
If you are interested in Binary Options and you are wondering if there are any legit brokers out there, the answer is yes. There are lot’s of regulated brokers with a positive track record and zero negative reviews. Topoption is the first fully EU regulated broker and OptionFair, Anyoption, and a few other brokers acquired these additional regulations as oppose to brokers operating solely under CySEC which requires a CIF license but doesn’t provide traders the necessary reassurance that the broker offers a legitimate binary options website. In some cases brokers operate without a CIF license and if they don’t have one, you can be sure they are definitely not a legitimate broker. As a GOLDEN RULE, make it a habit to always Google search a binary options broker prior to investing your money with them. Be sure to avoid the Top 3 Binary Options Scams: Sycamore Options, Banc 54 and Global Trader 365 and for a complete list of scams, don’t forget to visit the BO Black-List!