How Do Binary Options Work?
While binary options trading is a legitimate financial instrument and not a scam itself, it is a high leverage market with an unpredictable nature. The field presents institutions, companies, and individuals the opportunity to make a lot of money. While not all binary options brokers are scam brokers, the market conditions and the nature of the financial instrument have led to many companies exploiting the industry and its clientele.
Binary options as a financial instrument requires traders to decide on whether an underlying asset in the market such as a stock, currency, index, or commodity will go up or down in price in a given time period. Unlike traditional options, these options mature in a much shorter period, even as little as a minute. Binary options are marketed as legitimate investments, but they are considered extremely high-risk instruments, and when unregulated they are considered by many financial experts as fraudulent.
“I want to thank the Birman Law group for their professional conduct and ethical commitment in regards to the collection/recovery of monies lost with Binary Book. All money deposited with Binary Book was recovered”.
T.E., financial fraud victim
Binary Options Financial Fraud
In an unregulated environment, brokers do not have to act within the bounds of the law. The brokers’ main concern is making money, squeezing each trader for as much as they can, often misrepresenting their business to achieve this.
We have heard hundreds of harrowing stories from our clients, with evidence to reaffirm these claims. Using aggressive marketing tactics and offering high return rates, these companies depend on inexperienced traders to perpetuate the the fraud. Some companies will use misleading information to persuade individuals to deposit money. Many companies employ unlicensed brokers and manipulate accounts so that it appears as if the trader is earning money. A lot of these companies will then deny traders withdrawals and lock in their funds with “bonuses” and other sneaky tactics.
These companies play with people’s lives with little thought causing unnecessary trauma. Birman Law cannot erase the trauma many of these companies have brought about, but we strive to help individuals recover their initial investments and to attain a sense of justice and peace of mind.