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  1. #1
    Rookie Member jessea's Avatar

    CapitalBankMarkets, CTOption, BancDBinary !!!

    Don't trade with any un-regulated broker. These three are known for manipulating prices or not allowing withdrawal of funds. I have been burned by all three. Now I trade with Nadex. They are legal and regulated in the USA. There are regulated brokers in Europe as well. Just be sure to investigate thoroughly. Also, never never never take a bonus from any of them. You'll never see your money again. It is illegal for them to keep your deposit, but it's almost impossible to get them to respond to you after they tell you no the first time. Good luck and good trading.

  2. #2
    Legendry Member milos's Avatar
    I have been reading about dozen stories like yours.I was talking mostly US traders that they have problem to choose the broker except NADEX.A lot of brokers operate and they aren't regulated. Traders lost money or have communication problem customer support.

    I have decided to share one story here in the forum. One trader deposited $2000 to one broker and lost 50% its capital. He decided to bring money back to withdraw. He filled all needed information and sent request. He send them email. They never answered. Now he has a problem with credit card payment and more adding questions.He needs more documents paper from his bank in relate to remove the money from the broker.

    I think that was only excuse to avoid to back the money to client/trader. Of course he is the victim by bad broker. That's the main problem for the mostly traders. They should have inform first before they deposited the money. I can say the following: I trade by regulated broker and I can withdraw the money when I want. I also lost the money but it exists the risk of trading.

    At the end of my comments I'd like to ask: Does it exists any regulatory body or agency in the US that can protect the traders form the scam brokers?

  3. #3
    Administrator Martin Kay's Avatar
    Quote Originally Posted by milos View Post
    At the end of my comments I'd like to ask: Does it exists any regulatory body or agency in the US that can protect the traders form the scam brokers?
    Unfortunately there's no real enforcement agency to cope with scammy brokers at the moment. The only solution for the traders is to avoid problematic brokers and stick to brokers with good reputation.
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  4. #4
    Rookie Member jessea's Avatar
    In the US the CFTC is the agency who can investigate any slimy brokers promoting their business in the US. So far the only legal binary options company in the US is Nadex.
    It takes a little bit more to get used to trading with them, but it is well worth it. Check them out and get a practice account to learn how. With Nadex you are trading against other traders only, not the broker. Nadex earns their money by charging a small fee on each transaction. I mean very small. The CFTC blocked Banc De Binary from operating in the US and fined them several million dollars. We're still waiting on the payback though.

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