Welcome to my Binary Options Black-List! Make sure to avoid these brokers. In the last years many new brokers came out and many have proven to be useless and dishonest & these Binary Options Brokers are involved with scams such as credit card fraud, ID Theft and other terrible business and non-business practices.
I always recommend going with a well established, reputable broker when you’re trading online or in general when you’re buying or signing up for any other products or services online! I always research websites on Alexa.com which compares traffic, user retention and %daily reach of websites, which can help us online users pick and choose between the quality websites and the scams that are out there.
Section 1 A detailed explanation of Black-Listed Brokers, Scams and White Labels. How to recognize a scam? How to pick a decent broker?
Section 2 Frequently asked questions relating to scams, brokers, services and other topics relating to Binary Options Trading.
Check out my video review from YouTube and the complete list of White Labels and Black-Listed binary option platforms.
Mike’s Binary Options Black List
One Two Trade
List of common sub-brokers
Banc De Binary
Banc De Swiss
Sign up with the Pioneer of the industry create a trading account with Anyoption! New Minimum is $200 as of Jan 2013. Interested in a lower starting minimum? Visit my Top 10 Brokers for the best, low minimum brokers!
Frequently Asked Black-List Questions
How can I protect myself from ID Theft if I give out my credit card or ID to my Broker?
One of the most common questions I get from viewers is regarding identification and credit card fraud related questions. Many traders are concerned about Identity Theft which is a legitimate concern now a days due to the increase in online credit card fraud cases. It’s important to confirm that your Binary Options Broker has a strong layer of SSL security which encrypts the number immediately upon depositing, and it’s always recommend to self-deposit instead of depositing with a representative over the phone since if you provide the representative with your credit card information, he/she will have access to your secured credit card information. It’s important to go with a reliable broker with a reputation to keep, but either way keep in mind that it’s a mandatory requirement to provide your broker with at least 1 form of Government Issued Picture-Identification in order to execute your withdrawal request.
Is TradeRush a Scam?
Many traders have asked me if TradeRush is considered reputable in the industry and how professional are they when it comes to withdrawals and customer service issues. My answer regarding TradeRush is that even though they’re a sub-broker and they’re not independent, they have built a fairly decent reputation over the years and even acquired an honorable spot of being the 3rd largest broker right behind 24Option and Anyoption. TradeRush might not be an independent broker, however they are definitely one of the popular platforms and are far from being a scam. Read my complete TradeRush Review on my new site!
Check out my TradeRush Review on YouTube for more info on this broker.
How good are the Binary Options Signals offers by the brokers?
I hope that you are reading this before a representative managed to convince you to deposit more in exchange for free binary options signals, trading advice or bonus incentives. Many platforms including Banc De Binary, TradeRush and Ioption are now offering free trading signals in exchange for a much higher deposit. I am not at all surprised to find that many traders using these signals are reporting total inaccuracy. Ask yourself the question, ‘why will the broker want you to succeed with your trades?’ at the end you are contracting against the broker when you purchase the binary options and if you lose they get the money and the other way around. The Binary Options Trading Signals offered by the brokers are misleading and should be avoided. If you are interested in actual signals from a reliable service provider you should compare between the privately owned signal providers such as signalfeeds.com
Is OneTwoTrade a scam? What can I do if the broker refuses my withdrawal request?
In my Black-List you will find several brokers including One Two Trade, EZ Binary and Golden Binary marked as Black-Listed. These brokers are considered to be scams due to a large number of complaints, charge-backs and unanswered emails which all together is considered online theft. These brands are ruining the industry and are the reason why many traders are not able to take back profits. If you are experiencing any issues with these brokers and not getting any answer regarding your withdrawal request, the next step is to file a ‘Charge Back’ or in other terms a Credit Card Dispute. In most cases when it comes to e-commerce the power is in the hands of the consumer and it’s likely that the broker will give up and pay you or you will eventually win the dispute since obviously the broker is ignoring you and not paying you money that is yours!
Avoid trading with One Two Trade and similar brands and signup with trusted brands. Check out my Top 10 Binary Options Brokers on my blog.
Is Markets World Legit? Why is the minimum deposit so low?
Marketsworld.com is one of the brokers I reviewed on my channel due to their growing popularity. Markets World is gaining a lot of recognition for it’s low-ball minimum deposit of $20 while most platforms require a minimum of $200 to $500. The question is how legit is a company that low-balls the entire industry? In this case it wouldn’t cost much to find out..however the downside is that Markets World offers only a few assets, a ‘super slow interface’ and a customer service team that is almost never available. There is one benefit I can point out when it comes to the Marketsworld Platform and it’s the Free Demo Account.. It’s a great place to start before moving to ‘bigger and better things’ and using real money with a better interface. Most brokers do not offer a demo account so Markets World is a great place to start with your Practice Account. Check out the Markets World Review on YouTube.
Is the Option Bot a Scam? How can I get Binary Options Indicators?
One of the most popular Binary Options Products offered online is the Option Bot which is a ‘Currency Pairs Indicator’ and is placed as a tool-bar on the top part of your platforms as you are trading. The Option Bot computes data and reports the results to the trader after conducting an automated technical analysis calculations using pivot points probabilities and other formulas. The downside is that the Option Bot will not make the prediction for the trader such as with a Trading Signal or ‘Copy Live Trades’ type interfaces. In fact the Option Bot is more of a calculator than an Indicator, which is why many traders end up regretting the purchase of this product. It’s only recommended to traders focused heavily on currencies and are looking to save time on the technical analysis research. the OptionBot is not a scam, however it’s pricey and useless in most cases. The best Binary Options Indicators are the natural ones that are spotted through research, knowing the asset we are focused on and looking for the right clues is much better than testing out expensive software, which obviously won’t assist us with developing a strategy.