How We Rank
We do not want the traders dealing with binary options to be misled with the information provided by the brokers. The information about the brokers should be honest, objective, and unified. That is the reason why we have created a common approach to assess and report on the binary brokers.
The approach comprises 3 (three) parts, as follows:
1. Data collection
2. Rating evaluation
3. Fraud counteraction
How we collect data
Using manual and automated tools, our team of expert traders established a binary brokers’ web-site database to review web pages. We also collect data, obtained from the clients who are making requests for the brokers’ audits (click here to make enquiry for the fraud investigation).
Rating assessment methodology
We are not going to describe all of our rating methods so as not to allow dishonest brokers to manipulate the results of our assessments. Our main rating methods include, but are not limited to, the following criteria:
- Cash withdrawal is to be effected within 5 (five) days;
- A small number of complaints (we receive not more than 10 [ten] complaints on our website per day);
- Truthful advertising: information is to be precise and correct (click here to see how we evaluate brokers’ advertising information);
- Complaint handling (we act as a mystery shopper and make complaints): broker is to address complaints and to deal with the inquiries within 1-2 days;
- Deposit replenishment: broker is to have at least 3 (three) different payment systems;
- Income: the lowest option income is to be not less than 80%;
- Registry with the regulatory authority: broker is to have CySEC (Cyprus Securities and Exchange Commission) license, or license of CROFR (Centre for Regulating Relations in the Financial Markets) with the verification link;
- A minimum amount of deposit must not exceed 250 US dollars;
- The number of hits of a broker’s web search: there should be a sustainable web search growth without sudden drops in Yandex and Google search systems. The drastic web search changes are deemed negative as they may be caused by online searching aimed at commission of a wrongful act. We verify thoroughly the above-mentioned changes and find out the cause of their occurrence in order to check whether the broker is 100% trustworthy. In accordance with the results of our examination, we update information on our website.
Every month brings about 10-20 new fraud brokers, and the purpose of their activities is to scam traders. We prevent such wrongful acts using both automated and manual examination tools. The automated tools include the scripts search, automated software for merchandising, and so forth.
To conduct a manual analysis, we open a real account with a broker, initiate an inquiry, and act as a mystery shopper.
How we evaluate brokers’ advertising campaigns
The most common fraud is advertising misinformation. That is the reason why we verify all advertising actions personally before posting data to our website. We have no confidence in advertising actions that:
- Compel users to deposit, download the application, or perform any other acts without providing all necessary information in order to obtain the users’ agreement;
- Provide inexact and misleading information in promoting a broker, its market platform, or services.
Our message to binary brokers
The message is an ethical issue. While doing business, it is important both for a seller and buyer to be satisfied with the results. We urge binary brokers to provide customers with services in compliance with all ethical standards in order to support an open and fraud-free market.
Our message to traders
There is always free cheese in a mousetrap. If an offer seems too good to be true, it is fraud for sure. Remember that you should always be realistic and analyze all of the incoming information before investing in binary options. The choice of a binary broker is accompanied by high risks, and you should think wisely before making your decision. If necessary, send us your request to conduct an investigation of the activities of the broker you’re interested in, or you should get assistance from an outside organization.