UK Fights Binary Trading Scam

Binary Trading Scam

The binary trading scam has gained two new enemies: the UK and Canada. These two nations are the latest to take the millions of dollars leaving their shores through unregulated options companies seriously. Both countries have publicly spoken out against the binary trading scam as a whole. What does this mean for binary options brokers?

 

The UK Implicates Scotland

binary trading scamIn the United Kingdom, at least 30 shell companies were found to have roots in Scotland. In reality, they were fraudulent Israeli binary options brokers, who made their money pretending to be from the UK, accents and all. Their scam worked quite well, as traders thought they were doing business with countrymen who had to obey EU regulators. Professor Shmuel Hauser of the Israel Securities Authority advocates a groundbreaking measure – granting governmental powers the ability to cross national borders to deal with imposter binary options brokers.

Initial investigations made by journalists at The Scottish Herald uncovered the shell companies and tipped off British authorities about the scam. Scotland Yard, the police in the UK, now believe that binary options is one of the largest scams taking place in the country. The investigation uncovered more than 130 companies registered in the UK, completely unregulated. This to be only the start of a more robust investigation.

 

 

Nova Scotia Joins the Fight

Like the UK the province of Nova Scotia in Canada has taken serious action against fraudulent binary options brokers. Unlike the UK, however, the response of the country is more pronounced and sparked by a smaller initial concern, with a few Nova Scotians reporting that there were bad eggs on Facebook, resulting in the government investigating the matter.

David Harrison, the chairman of the Nova Scotia Securities Commission, took immediate action warning citizens against doing business with investments that come from “Magnum Options” or “Hampshire Capital Ventures Ltd.” Nova Scotia continues to purge the unregulated binary options market (read: fraudsters) from its shores.

About The Author

Comments (18)

  • EUGENE

    I would like to know if you have dealt with Edgedale finance before ?

    • Brandon

      Yes we have. They are part of Glenridge Capital. Eugene most companies have 5 or 6 brands that the market with

      • EUGENE

        I would like you to help me recover my funds they scammed me from amount of 27000USD and they are refusing me to withdraw any of my initial investment .

        • EUGENE

          Hi Brandon , I would also like to know if your company successfully claimed funds from Edgedale finance in the past ? as I need you to help me recover my funds from them.

  • David t

    please advise if you have any funds recovered from binarybrokerz, as they seem to be completely closed down?

    • Michel Apsan

      Hello David, thanks for reaching out, we do have information on binarybrokerz and I believe we can help you.

      In order to begin your process, please fill in the form in this page: wealthrecoveryint.com/binary-options-scams-1/

      If you have any questions, do let us know.

      Best

  • Sally1454

    Are Tradextra and Ivory option on your radar? I have over $100,000 in these companies and am battling with them to get money out.

    • Wealth Recovery Team

      Hi Sally,

      I am very sorry to hear that. They are on our radar indeed. Please fill out the form here: https://wealthrecoveryint.com/contact-us/ and if we are able to help, one of our representatives will be in touch. Thanks, Daniel.

  • Rocky

    Has anyone heard of 23Traders? I am trying to get back a large sum of money.. does anyone know how and been successful?

    • Wealth Recovery Team

      Hi Rocky,

      I am sorry to hear that. We are always fighting to recover money to those who have been scammed by unregulated Binary Options traders. Have you filled the form our on our website to receive a free consultation? If not, please fill out the form here and if we are able to help you, someone will be in touch: https://wealthrecoveryint.com/contact-us/ Thanks, Daniel

  • Steve B

    I have been scammed out of £38,000 by a company called http://www.Binarytilt.com
    They did all of the things to get my money off me that I have since read to be normal practice by the Binary companies.
    I realised what was going on before all my money was gone out of my account and tried to get what i had left out but they have simply refused to allow any withdrawal and have cut off all communication.
    Any help as to what to do next would be appreciated.

    • Michel Apsan

      Hello Steve, I sent to you an e-mail.

      Thanks for reaching out, we will keep in touch.

  • pappyg

    Need help- Porter finance – $100k can’t get it

    • Wealth Recovery Team

      Hi JG,

      We do have experience with them and we may be able to fight this for you. We will need some more details from you. Please fill the form out here:https://wealthrecoveryint.com/contact-us/ and someone will give you a call regarding this. Thanks, Wealth Recovery Team

  • Tito

    Been tracking down Bank Of Options as well as their platform MGM. Anyone had trouble with them. UK offices seem to be bogus. Still trying to get money back.

    • Wealth Recovery Team

      Hi Tito,

      We may be able to fight this for you. We will need some more details from you. Please fill the form out here:https://wealthrecoveryint.com/contact-us/ and someone will give you a call regarding this. Thanks, Wealth Recovery Team