Are binary options a scam? Well, sort of. Not really. Maybe. The image problem plaguing binary options is well known by most traders. Brokers will cheat their customers and make winning trades account in the P/L as losers later, and clients have know recourse for these offshore scam artists.
First make sure you check out the scam brokers here.
Even though the issue is not widespread amongst brokerages, it doesn’t take many bad apples to give an entire industry a bad name. Look at the US banking industry. This is one of the greatest success stories in the history of worldwide enterprises, one of the most regulated industries ever created, and a conduit through which the entire world economy flows. However, If you asked most average people after the 2008 financial collapse if US banks were a scam, they would have exclaimed their abhorrence for the entire industry, just because a few people at a couple firms made some very greed decisions.
Binary options brokerages are largely upstanding, regulated, customer service oriented enterprises. These respectable institutions are broadly painted in a bad light however, by a couple of unscrupulous brokers eroding the public’s trust.
Binary options are a legal and regulated security in the United States. Many brokers are registered under European or American regulatory agencies, and client’s never have any complaints of fraud or mistrust.
We use Tradorax because of their sterling reputation. Not only do they deliver an awesome binary trading package, but they do it with top notch service, a reputation for transparency and customer satisfaction, and they are known as one of the fastest brokers to release withdrawn money.
Tradorax has 24 hour customer service, and thousands of satisfied clients. We place our trust in them to deliver for traders, and they always do.