Binary options frauds
If you’ve been deceived into transferring money or cryptocurrency to a binary options scam, InterClaim Alliance can assist you in taking the initial steps to recover what belongs to you.
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Understanding binary option scams
What do binary option scams involve?
Binary options involve financial trading where individuals predict if an asset’s price will rise or fall within a brief period. Although some platforms are genuine, many scams attract victims by promising guaranteed returns and risk-free trading.
How exactly do binary option scams work?
Fraudsters impersonate legitimate brokers, offering to manage trades or give advice. They may use polished platforms and deliver small initial returns to build trust. Once victims invest more, scammers block withdrawals or vanish completely.
What is the result?
Victims may lose thousands in a manner that closely resembles gambling. This is because binary options exploit emotional triggers like quick wins, chasing losses, and promises of easy money. However, unlike regulated gambling, these scams lack transparency, oversight, and any recourse except through legal recovery services.
Ways to identify binary option scams
What does a binary option scam look like?
Scammers often pose as experts, taking time to earn your trust. They may provide detailed explanations, share convincing success stories, and present fake performance data. Once they have your confidence, they ask you to transfer money into a supposedly secure investment account — that’s when your funds are stolen.
Pretending to be legitimate brokers
Binary option scammers frequently impersonate legitimate brokers or claim affiliation with well-known financial institutions. Many operate from outside the Canada, particularly in unregulated areas where enforcement is lax, making it more difficult for victims to reclaim lost funds. Remember: regulated investment brokers in the Canada are prohibited from offering binary option investments.
Ways to avoid binary option scams
The best way to avoid binary option scams is to disregard any unsolicited offers for these investments. Even if a broker claims legitimacy, being based offshore is a major warning sign. We strongly advise against using offshore brokers, as they are not protected by Canada laws and are often involved in larger online scams.
Recovered $50,000,000+ for clients just like you
In the last three years, we've helped clients reclaim over $50,000,000. This success is driven by our expert team of legal professionals and asset recovery specialists who track down and retrieve scam-related losses. And with our no-win, no-fee promise, you won’t owe anything unless we get your money back.
Avi Grant
Head of First ResponseAvi has a proven track record in both marketing and sales, having worked across multiple industries—from technology to communications—including roles at major global tech companies like Google.
Noah Stein
Head of Crypto InvestigationsSince becoming part of InterClaim Alliance Crypto Investigation division, Noah has shown a strong passion for the Metaverse, especially in the area of NFTs.
Daniel Rhodes
Co-founder and SolicitorDaniel is a fully accredited solicitor who earned his LLB with a 2:1 from the University of Liverpool. He was recently named a finalist for Young Lawyer of the Year 2024 and shortlisted in two categories at the North West Leadership Awards.
Jake Turner
SolicitorJake became part of InterClaim Alliance in August 2021, and after demonstrating strong performance and delivering excellent client outcomes, he was awarded a training contract in February 2023. Jake now manages his own caseload, assisting scam victims in recovering their lost funds.