Binary options - scam or all legal?
Binary options (also: digital options, binary options, binary trades or binary trading) are Financial derivatives and belong to the category of Forward transactionsWhen trading binary options, only two scenarios can occur - either the predefined event occurs and the trader/buyer receives a certain amount. Or the event does not occur and the trader loses the amount invested. The underlying assets can be diverse - shares, indices, currencies, commodities, etc. Some of the best-known providers of binary options are BDSwiss, IQOption, Anyoption, 24Option, Option888, FX24, EZTrader, Hot option, Zoomtrader Global, Plus500, Zoomtrader Global, 365Trading, 365BinaryOptions, High Low. These platforms are operated by the following companies, among others: Novox Capital Ltd, Rodeler Ltd, (Ouroboros Derivatives Trading Limited), IQOPTION EUROPE LTD, Plus500 Ltd.
Ban on binary options? - Current information
The ESMA (European Securities and Markets Authority) published a document on 27 March 2018 in which a ban on binary options is envisaged. In addition, restrictions in the CFD trading discussed. ESMA is the European Securities and Markets Authority and is tasked with protecting the public interest by contributing to the short, medium and long-term stability and effectiveness of the financial system for the Union's economy, its citizens and businesses. ESMA has various powers in this regard. For example, it can submit proposals for regulations to the Commission. It can also take action against national authorities and, in special cases, even against individual market participants. The measures are due to come into force in the coming months. ESMA's aim is to protect private investors, as they have often suffered considerable financial losses in the past.
Binary options - questions and answers from a lawyer
The lawyers at LAWMUC are available to answer questions on the subject of binary options. Investors often report manipulated prices or suspicious information. We answer questions regarding the terms and conditions, conduct negotiations with the providers, liaise with the relevant supervisory authorities and, in cases of suspected Fraud we also contact the law enforcement authorities.
Binary options - ban by BaFin?
The German Federal Financial Supervisory Authority (BaFin) is constantly considering a ban on dangerous contracts for difference and binary options. However, such a ban has not yet been imposed, meaning that trading in binary options is legal and cannot be labelled a scam across the board.
Binary options - Ban in Israel
In recent years, there have been repeated discussions in Israel as to whether trading in binary options should be banned. How Times of Israel announced on 23 October 2017, binary options trading is now officially banned in Israel. Several arrests of executives from the industry have already been made. Turnover in binary options trading was in the billions, so the ban will now have a significant impact. Numerous jobs are also affected. However, Israeli politicians have decided that due to the numerous violations of the law in recent years, Israel's image would be severely damaged if a ban were not imposed.
Binary options in Germany
Binary options are now also very popular in Germany - many investors and traders see above-average profit opportunities in them. However, it is rare to find objective and honest information about binary options trading. Much of the information available online is advertising, making it difficult for investors to understand the opportunities and risks associated with binary options. The following overview by LAWMUC lawyers is intended to provide the most important information on the subject of binary options.
Binary options - applicable law and competent court in cases of suspected fraud
Most binary options providers are not based in Germany. Many companies are registered in Cyprus, Malta, Bulgaria or even outside the EU. This raises the question of which law is applicable if disputes arise from the contractual relationship. The question of the competent court also arises time and again and can only be answered after a comprehensive review of the individual case and not in general terms. Many providers are suspected of fraud or unfair transactions. More and more investors are contacting LAWMUC lawyers because they have lost a lot of money with binary options. In many cases, there are also various breaches of duty on the part of the providers.
Binary options - legal situation and state regulation
Binary options are sometimes traded over the counter. In more and more countries, however, binary options trading is regulated by the state. Many of the binary options providers operating in Germany are regulated by the Cypriot financial supervisory authority CySec (Securities and exchange commission). The authority regularly publishes warnings and information about the activities of many companies in the financial sector. The regulation is intended to ensure that the relevant legal regulations in the financial sector are consistently complied with.
Binary options - good profit opportunities in the low-interest phase?
More and more investors are desperately looking for high-yield investments in the ongoing low-interest phase. As binary options appear to work very simply at first glance, traders and investors are hoping for quick and easy profits. However, where the chances of profit are above average, the risk of loss should not be underestimated. Binary options can also be compared to games of chance, as price developments can hardly be predicted, similar to games of chance. For this reason, binary options trading is not regulated by the financial authorities in some countries, but by the authorities responsible for gambling.
Binary options - current development
In the meantime, some foreign financial supervisory authorities have suspended the activities of several companies as they have identified various breaches of duty and suspected fraud. Some binary options providers have ceased trading themselves, claiming that they did so voluntarily. However, in some of these cases it is much more likely that this was due to problems with the supervisory authorities.
Binary options - serious business or fraud?
Investors often have difficulty finding reputable binary options providers. Often, there is even a suspicion of targeted and systematic fraud on the part of binary options companies, particularly in the case of unregulated providers. With regulation and state supervision, it can be assumed that the providers are reputable to a certain extent. Nevertheless, even state supervision is not a "clearance certificate". Investors should always take a close look at the general terms and conditions of the providers. LAWMUC's lawyers can help with any ambiguities and claims for damages.
Binary options - terms and conditions and customer claims
The general terms and conditions of many binary options providers contain ineffective clauses.
On the one hand, the clauses are often surprising for customers. This can result in ineffectiveness according to § 305c BGB result.
In many cases, customers are also entitled to claims for frustration of contract, § Section 313 (3) BGB to. In addition, claims for unjust enrichment in accordance with. §§ 812 BGB into consideration.
LAWMUC's lawyers help affected customers.
Binary Options - Bonus Payments
Many providers of binary options entice their customers with considerable Bonus payments. Nevertheless, customers should be careful and take a close look at the contractual provisions regarding bonus payments. The bonus conditions are often very unfavourable for consumers. The Cypriot financial supervisory authority CySec has now banned bonus payments. LAWMUC's lawyers are at your disposal if you have problems with bonus payments.
Contact us without obligation.
List of binary options providers
The LAWMUC lawyers have compiled a list of binary options providers. The platforms listed are particularly popular among German traders. A generalised assessment of their reliability and the quality of their services is not possible. Rather, a precise review must always be carried out on a case-by-case basis. The lawyers at LAWMUC are happy to answer questions from interested or affected investors on the subject of binary options.
24Option
365BinaryOption
365Trading
AAAFX
Anyoption
Avatrade
Banc de Binary
BDSwiss / Banc De Swiss
BigOption
Binary.com
Binary Investments (Europe) Ltd
BinaryBook
Binaryoptionsxs
BinaryTilt
BinaryUno
binaryoptionseurope
BKTrading
Blingbinary
boursebinary
Bloombex Options
BossCapital
bullbinary
BullOption
BuzzTrade
CFDstocks
CherryTrade
CobraTrading
CopyOp
CTOption
CWOption
Dragon Options
Dukascopy
Eclipse Finance
EmpireOptions
eOption
eToro
ETXCapital
EUOptions
EveryOption
Every-option
EvoBinary
ECBinary
Eztrader
EZTrader
Finmax
Finopex
Finpari
FirstBinaryOptions
FMTrader
FonBet
Ftrade
Fxmarkets
GCMBinary
Global option
GlobalTrader365
GOptions
Grand option
GrowBinary
GTOptions
Hotoptions
HYOptions
High low
Iforex
IG
IG Markets
Igmarkets
IHoptions
Ikkotrader
Imperial Options
InsideOption
InteractiveOption
IQOption
Ironfx
IvoryOption
KeyOption
Lottmarket
LBinary
LeaderOption
Magnum Options
Marvinoptions
masteroptions
No1Options
NorthBNK
NYStockOptions
OBOption
Oboxee
Olimp Finance
OlympTrade
OneTwoTrade
Onlyoption
Opteck
Optimarkets
OptionBit
OptionBravo
Optionet
Optionfm
Optionfair
OptionGround
OptionLucky
OptionMint
OptionNet
OptionNow
OptionRally
OptionRange
Options500
OptionsHouse
Option stars
OptionsVIP
Optionsxp
Optionsxpress
OptionTime
Optiontrade
OptionTrader
OptionWorld
OptionXP
OptionYard
PlatinumTrader
Plus500
Porter Finance
Power option
Prestige option
Prestige financial markets
Primebrokerz
ProOptionClub
PWRTrade
Quickoption
RBOptions
RBOptions
Redwood Options
Shelf options
RoboOption
RoyalOption
Safe24Options
Safecap
Spot888
SpotFN
SpotOption
StarFish FX
StartOptions
Stoxmarket
Sycamore Options
tdoptions
TitanTrade
Topbinary
Top Binary Signals
Top option
TR Binary Options
TradeQuicker
Trader369
TraderEasy
TradersLeader
TradersRoom
TradeSolid
TradeThunder
tradingsking
Tradorax
The binary king
tropicaltrade
Ubinary
UboCapital
ubroker
Utrader
VaultOptions
VIPBinary
XOptions Trading
XTB
XTradeBrokers
ZoomTrader Global
Zoomtrader is a binary trading company. When trading binary options, customers bet on rising or falling prices. Platforms such as Zoomtrader entice customers with high returns in just a few hours or days. However, the loss of money is much more realistic than the promised profits. Financial experts describe betting with binary options as highly speculative.
Zoomtrader - scam or trustworthy?
Many investors want to find out whether platforms such as Zoomtrader are trustworthy or whether their business concept is based on manipulation. It is not possible to give a general answer to this question, but it must always be determined on a case-by-case basis. There are traders who have won considerable amounts with binary options. However, there are also many cases in which there are various breaches of duty on the part of the providers and even suspicions of criminal offences. However, this must always be carefully examined by an expert.
Zoomtrader - Experience
Many traders at Zoomtrader report about Zoomtrader online. There are also some negative reports. It certainly cannot be said that all customers are dissatisfied and have negative experiences with Zoomtrader. The opinions of customers seem to vary widely. Customers who have suffered losses or are dissatisfied with Zoomtrader can contact LAWMUC lawyers to discuss their case without obligation.
Zoomtrader - Investment lost or payout rejected?
Investors who have suffered financial losses as a result of their trades with Zoomtrader should have their case reviewed by a lawyer. Those who have difficulties with their payout requests should also contact a lawyer as soon as possible. As many trades are nowadays processed exclusively automatically, technical errors can also occur. In many cases, a specialised lawyer can help injured investors.
Binary options - even state supervision is no guarantee of security
Binary options companies such as Zoomtrader are growing in number. Many of them have a financial supervisory licence and are monitored by the relevant authorities. Nevertheless, even a licence does not always mean that breaches of duty on the part of the companies are completely ruled out. Many companies for binary options trades are based in Cyprus and are controlled by the Cypriot financial supervisory authority CySEC. In recent years, the financial supervisory authority has imposed fines on several online companies and even issued several licences. Licences withdrawn.
Binary options - in many cases the companies are based in other countries
Most binary options companies are based in other countries. This means that in the event of suspected breaches of duty, you must always contact the foreign authorities. This circumstance makes the enforcement of claims somewhat more complicated than in cases in Germany. However, as the lawyers at LAWMUC report, a competent lawyer with international experience can also efficiently enforce the claims of injured parties in distant countries.
Binary options - bonus regulations of many platforms unlawful
Many binary options companies entice their customers with promising bonus payments. However, traders should be careful and not accept promising bonus payments without due consideration. This is because the terms and conditions of binary options companies almost always include very unfavourable bonus conditions. For example, it is sometimes required that a 50-fold trading turnover must first be made before a payout can be authorised. In most cases, such a turnover is unlikely to be achieved. In such cases, aggrieved investors should contact a competent lawyer who can check whether the bonus clauses are permissible in the specific case.
Why do even safety-oriented investors trade binary options?
Even safety-oriented investors trade binary options despite the risk of loss, as they are confronted with supposedly safe offers and see no lucrative alternatives in the low-interest phase that has been going on for several years. Many investors in Germany, Austria and Switzerland are desperately looking for good profit opportunities and are starting to trade with high-risk financial products. However, with high-risk financial products, losing money is much more common than high returns.
Binary options - help from experienced lawyers
Many binary options traders report unauthorised payouts, missing profits, ambiguous conditions, suspected manipulation or even the loss of their investment. The authorities in Germany often declare themselves incompetent in cases involving foreign companies. However, affected traders can turn to a competent lawyer with international experience.
Binary options - who always wins?
For many traders, the trades end with a total loss of the investment. The profits usually end up with the online companies.
Binary options and mobile apps
Many companies also have an app for smartphones. With the app, traders should be able to bet regardless of their location. However, traders are very often dissatisfied with the apps. You can usually find negative reviews on the internet. In many cases, negative experiences are reported.
Objective information about binary options companies
Most suspicious companies publish untrue information about binary options, which is intended to present their products as lucrative. However, such articles should be treated with caution, as they are actually paid advertising.
There are many online companies that supposedly show neutrally whether the individual online binary options companies are scams. However, even such information is not always objective, as the online companies receive money for it.
The lawyers at LAWMUC advise affected traders in the field of binary options.
English 
German 
Bulgarian 
Romanian 
Croatian 
Spanish 
Italian 
Polish 
Portuguese 
Slovak 
Slovenian