There are many technology companies who are providing online trading platforms. They are benefiting from the profits generated from these scams as well. The price feeds may be real – but for the most part the trades are not being “passed” into the market. Binary option, forex and CFD scams operate like a Casino – all the trades stay in the house.

The only platforms that are safely not rigged against the trader will be those used by only the most professional traders, in very regulated jurisdictions such as in the US and Europe. Always take council from the home regulator as to who one can trust.

Some regulatory authorities, like in Belgium, recently banned Binary Options. Many jurisdications are thinking about banning Binary Options as well. However, will this stop the unregulated binary option providers from operating within their countries? Hardly – it will open the doors for the criminals, in our opinion.

According to our experts, they can’t do anything. They cannot shut down websites and search engines like Google allows these websites to appear in their Search Content worldwide. They cannot catch the owners of these scams because they hide behind corporate structures. This is why we created the BCA.