A Letter from a Binary Options Trader
It's time to take control of our industry and stop letting a few bad apples spoil the bunch.

We’ve heard many stories about binary options, from news reporters, financial bloggers, regulators, scam victims, technology providers and brand owners. This time I’m happy to bring you readers something new, a different angle on binary options.
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Here’s someone whose opinion you forgot to ask for, a regular trader, just someone who wants to trade without fear. “Trader Joe” has a live account with one of the biggest binary brands and he’s an active member of our community. This is a letter from a real trader.
Traders want better binary options regulation
We, the traders, want better regulation! Yes, there are actual traders, smart investors, who want to trade binary options and didn’t get sucked into the trading world because of a fishy advertisement they saw somewhere, traders who don’t expect to get rich overnight and who would simply laugh at the idea that an auto-trader could make them money without any effort.
Parallel to this world of scam brokers, scam signal services, trading gurus, fake regulators and regulators who just don’t care or focus on the wrong things, there is a community of real traders who recognize an opportunity to have a good time and to possibly make some money.
Some of us enjoy binary trading and simply want a safe, regulated environment to trade in which we can trust the brokers, the brokers aren’t afraid of the regulators, the general public is safe and the traders are happy.
Bad regulation is hurting the binary options community
Bad regulation is hurting the binary options community and it’s been doing so as far as we, the community of traders, can remember. Ever since binary options became popular, con-men and fraudsters skillfully adapted their methods to include them, taking advantage of potential traders with little or no hindrance from regulators or anyone else. From scam autotraders to scam brokers and fake anti-scam websites, we, the legitimate trading community, have seen it all, thanks to the dilatory reaction from authorities.
At first there was no regulation, and that was really bad. Nearly every broker on the market, legit or not, was using pushy tactics at the least and outright scams and thievery at worst. Eventually CySEC came along, and they have been doing a lot to help control the tide of scammers and con men, but even they have a hard time controlling the flood of ‘off-shore’ brokers registered in tropical island banking havens and operating across borders and jurisdictions with impunity.
At least now there is a movement among regulators in Europe to better control the scams and con artists but the problem now is that many (will probably) take regulation too far.
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The real problem is twofold. A lack of global regulatory organization and also because binary options was for a long time considered a ‘victim-free’ industry. How can it be victim-free when people get scammed?
Because not everyone who gets scammed runs to their local police station to make a complaint, and those that do, find out that there is nothing the local authority can do about a rogue website offering binary options get-rich-quick schemes. What it will really take is an international effort and cooperation among the many different regulators, and forms of binary options trading. With that said, I suppose it’s time for all of us traders, as a community, to demand better regulations worldwide!
It’s fun but infested with scams!
Binary options are fun! No doubt there, whether you just want to play around and try your luck in the market or if you are a serious trader, there are fun times to be had trading binary options. You can just trade on your hunch or what your friends think, or spend some time learning technical and fundamental analysis like a professional investor. For the latter group, it is possible to grow your account and earn money but it takes time and dedication, for the former, you might earn some money but you will for sure have a good time and you will definitely learn things about the world, the market and yourself!
Unfortunately, far from everyone is a serious investor and the demand for making quick and effortless cash invites scammers to create and promote too-good-to-be-true offers that are always scams.
How does bad regulation open the door for crooked brokers?
First and foremost, I have to admit that the regulators worldwide have been tougher when it comes to binary options and firms claiming to offer services for traders. Their effectiveness however can be criticized. In some countries, binary options are outright banned which means that even offshore regulated brokers that operate without any involvement with any scam get blocked, and the ones that are scams are often able to operate there anyway.
This isn’t necessarily the best approach because the bucket-shop firms that don’t care about running a serious business will continue their solicitation of clients, disregarding bans and laws. Another form of regulation that many authorities are implementing is demanding a license for any firm that offers financial services but again, the focus is more on making it hard for firms that are willing to operate legally than creating an environment where honest, open and fair binary options trading can take place.
I mean, we have legal casinos to keep gambling off the streets and out of the back rooms, we should have the same for binary options.
The binary options industry needs better regulation
The binary options industry needs better regulation, regulators need to cooperate and the industry and the regulators need to work together. By doing this, forming solid relationships within the community of traders, regulators and brokers, we can create a safe, regulated trading environment in which the traders are happy, legit brokers can stay in business and the general public is free from scams.
After all, eradicating binary options won’t eradicate fraud or scams, the bad guys will just figure out another way to do it, and it will probably be much worse than what they do to people in the name of binary options. It’s time to take control of our industry and stop letting a few bad apples spoil the bunch.
A guy from BinaryOptionsThatSuck is the last one who should speak about scams. His website is promoting and endorsing unregulated brokers for years. They send a lot of victims to these unregulated crooks. They helped to create a lot of scam victims.
You are so right John!
not to mention promoting their own unregulated binary options platform
Yes, there are lots of scams in this field. I lost my $3000 which using one robot trading tool on iqoptions.com
A shame that you totally misunderstood what IQ Option robots are about. They are automated strategies made by other traders, the broker has nothing to do with them, except for providing a development tool for the automation of strategies. So you used a robot made by another trader who was probably just playing with the code. It is foolish to use third party black box apps for trading with real money.
Just to add one more thing, IQ Option robots are just like MQL strategies in Metatrader. Anybody can program a robot for Metatrader using the MQL language just like anybody can make a binary options robot using the IQ Option robots development tool. And when you lose money with a strategy in Metatrader, you don’t blame Metatrader for being a scam, you have to blame the third party that programed the robot.
IQ options is a big scam, I asked them to provide me with tax documents and received an answer that they are not operating in my country, They haven’t said anything when I was registering.
All the regulation int he world won’t change the fact that Binary Options aren’t investment products. They are betting products akin to gambling..
i am very happy.thank you.
Binary Options is a scam
Pure robbery and run by a few people
All BO could be traced to Tel Aviv
I worked for BO companies many years
All rigged
Regulated in Cyprus and and trades twisted elsewhere
Total crap fed to people
” traders who don’t expect to get rich overnight and who would simply laugh at the idea that an auto-trader could make them money without any effort.”
Really?
80% or ZERO return on a five minute “investment” means…..?
please any one suggest me a non-manipulator 100% legit binary broker?
binary options are not trading. This is pure gambling. It has nothing to do with investing, nor is connected with actual price volatility of the underlying asset. Rigged platforms, scam-brokers, pseudo-traders.
The whole binary options business is build with the idea of
SCAMMING YOU.
It’s the good old casino that wants to take your money and leave you asking for more of it
Great information, thanks for sharing with us.
Great post. Keep posting such kind of info on your page. Am really impressed by
your blog.
Thanks for sharing your experience!
I started working with traderush in 2016. The first deposit of 1,250 dollars and in two weeks made some profits. Then there was a lost on the gold and shares of Boeing. Manager John said that it is necessary to top up to restore the deposit. I invested another 15,000 and then another 17,500. I should have already understood that everything was already suspicious, but I believed it. After that, for three days my balance was drained and the manager and even support stopped responding and I could not login to the account. After two month i logged to the… Read more »
Okay, thanks guys for sharing the experience, It really helps.
Great read, thank you. This is very informative