Binary options scams

Binary options are a form of fixed-odds betting. Typically, a trade involves whether an event will happen or not (for example, will the price of a particular share or asset go up) and the outcome is either yes or no.

If the investor is correct, they ‘win’ and should see a return on their investment; if they’re wrong, they lose their full investment.

How binary options scams work

Binary options fraudsters often advertise on social media – the ads link to websites that are well-designed and professional looking.

Scam firms may manipulate software to distort prices and payouts – they then suddenly close consumers’ trading accounts, refusing to pay back their money.

How to protect yourself

Be wary of adverts online and on social media promising high returns from binary options trading.

You should only deal with financial services firms that are authorised by us. As the sale of binary options to retail consumers is now banned any firm offering binary options services is probably unauthorised or a scam.

 If you have been scammed

You can report the firm or scam to us by filling report form in our website.