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New to Binary Options Trading? Your Binary Option Broker Sucks? Or maybe you’re a victim of a Binary Options Scam?
ThatSucks.com team primary goal is to provide a safe environment for all traders, new or veteran, in which they can find honest unbiased reviews and information about different binary options brokers. If you are already a victim of a Scam, the BOTS team will do anything they can to help to resolve your issues.
That Sucks is here to support the trader’s community; we invite you to join us in this quest by sharing your information and experiences with others, right here. We will help you get started by providing information about the Industry and different Brokers, but most importantly – helping you choose a Binary Options Broker that DOESN’T Suck!
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What is A Binary Options Scam?
The increasing growth of the highly profitable Binary Options Trading market becomes more and more attractive to traders, but being widely unregulated and relatively fresh makes the industry highly attractive to crooks and charlatans, or in other words – Binary Options Scam. The fact that regulators take measures to prevent schemes does not make the industry scam free. Professional crooks are out there, trying to fool naïve traders en mass, with flashy sites and big, empty promises. The list of crooks is certainly not limited to brokers; marketing professionals dressed as service providers are trying to sell you mind-blowing returns. They possess no less danger than the old-fashioned bucket shops, and together they are creating havoc among untrained traders.
Is Binary Options Trading Regulated?
In the U.S, NADEX is one the only CFTC regulated exchanges offering binary options. The British FCA is in final stages of complying a final draft. The FCA does allow some CySEC regulated brands to offer certain product or services in the UK. Several regulators including the Australian ASIC, Canadian BCSC and OTC and South Africa FSB are mainly acting as watchdog, however the above have yet to make a clear statement regarding the regulatory structure of brands offering services in their jurisdictions. In Europe, the common regulation is considered to be CySEC. There are over 15 CySEC regulated brokers operating in Europe. Local regulators in the EU include strong watchdogs such as the French AMF, Italian CONSOB and Germany’s BAFIN. Asian markets are even less strict. Please check this article about binary options regulation for more information regarding regulators in your country.
Should I Open a Binary Options Account?
Binary Options is a simplified trading method that requires thinking and strategy, and could generate very high returns in a very short time. Our team is here to help you better understand the differences between unreliable and untrusted brokers by pointing out the dark side of the different brokers, so that everyone could choose the right broker for them.
We’re proud to be the first and ONLY objective Binary Options community website, where we not only help you learn about trading but expose the scam-artists you need to stay away from. We’re proud to be copied by hundreds of fake websites who use our good reputation to fish potential clients, just as much as we’re ashamed of their poor judgment. They’re hunting clients using big words like scam or fraud, yet they’ll point naïve traders at all the wrong places. With your help, we’ve managed to review hundreds of brokers, signal services, autotraders, robots and other related products, and keep doing so. We’re sure that only together we can trade and enjoy trading safely!
Remember – Even the Best Binary options Brokers Suck Sometimes.