Red Card Schemes, Binary Umpire Q&A Guide

Red Card Schemes – Blacklist Q&A

Thank you for visiting the Binary Options Red Card Schemes – Red Card Page! On this page you will find warnings on the quick rich sites , scam brokers and fraud cases. Many fake sites are created on a daily basis thus damaging the reputation of the industry. If you are currently having issues with the mentioned brokers you can always file a credit card dispute as a last solution. If you would like to report a scam broker not listed on this page, please fill free to let us know via the contact us section.


Binary Options Red Card Schemes– Questions and Answers

How To Identify a Binary Options Scam?
It is easy to fall in to the hands of a scammer. Generally like with any investment decision one needs to their homework.

Certain questions can be asked
-Is the Broker Regulated?
-Have previous traders been able to withdraw their funds?
-Is the customer service department available?
-What have been the recent reviews on the company?


Is the Broker Regulated?

Brokers working under the EU jurisdiction are required by law to be fully licensed and regulated. Check out the following regulatory bodies hand guide for where you are.

-Australia – Australian Securities and Investments Commission –
-Canada – Investment Industry Regulatory Organization of Canada (IIROC) –
-Cyprus – Cyprus Securities and Exchange Commission –
-Czech Republic – Czech National Bank (CNB) –
-Denmark – Finanstilsynet (The Danish FSA) –
-France – Banque de France (BDF) –
-Germany – Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin) –
-Hungary – Pénzügyi Szervezetek Állami Felügyelete (PSZÁF) –
-Italy – Commissione Nazionale per le Società e la Borsa (CONSOB) –
-Japan – Financial Services Agency –
-Malaysia – Securities Commission of Malaysia –
-Netherlands – Netherlands Authority for the Financial Markets (AFM) –
-Singapore – Monetary Authority of Singapore –
-Spain – Comisión Nacional del Mercado de Valores (CNMV) –
-Slovakia – National Bank of Slovakia (NBS) –
-South Africa – Financial Services Board (FSB) –
-Sweden – Finansinspektionen (FI) –
-United Kingdom – Financial Conduct Authority (FCA) –
-United States – U.S. Commodity Futures Trading Commission –


Withdrawals and Customer Services

I signed up with a bonus and now I can’t withdraw my money, what can I do?

These may come in the forms of welcome bonus, loyalty bonus ? In many cases, traders without any online trading experience fall into the New Account Bonus Offers that restrict the trading account. These are traps whereby your funds plus the bonus are locked until you satisfy a trading volume requirement. Always check the red print before signing up to a bonus. It is a brokers responsibility to fully detail these out to you before hand but just be cautious the always ask the right question before signing up. Over all I don’t recommend signing up with any special incentives and bonuses.


I want to request a withdrawal and they are asking me for a picture ID and my credit card information? Should I give them my personal information?

Generally this is a common practice amongst most brokers. It is for your security they ask such information. Under data protection the broker is supposed to keep such information private and confidential.


Customer Reviews – Red Card Schemes Flags

One of the first signs is the lack of customer service and if the customer service team is unavailable during business/trading hours they probably won’t be around when you ask for your money back.

Another way to identify a potential fraudulent company is by conducting a Google Search to find any negative testimonials and reviews on the company about the company its withdrawals process and it’s recommended that you background the company before you signup. It won’t help much to research the company after you already funded your account.


I’ve been scammed! How get I receive my money back? If you are %100 confident you signed up with a scam broker you can file a dispute with your credit card company and cancel out the transaction, in most cases you will lose if you don’t have sufficient proof that you didn’t receive the services you signed up for so the burden of proof is on you, the customer. Disputes may take up to 30 days but in the case you did in fact get scammed this might be your only possible way to get your money back!

Thank you for reading our Red Card Schemes – Brokerhood Watch Checklist

Review Date
Reviewed Item
Red Card Schemes - Blacklist Q&A