I wouldn't believe that all are scams, there are certain brokers, who are regulated one and on which you could rely on it. You just need to have a good amount of research to find a good one.
I really can't understand why people are saying all Binary Brokers are scammers. I know it is new work for everyone and that is why we are going to face scammers but it does not mean that you are always going to face the same one.
Name one, who is regulated in reputable large jurisdiction .. and not those tin pot one from Malta. Cyprus and other places ( no disrespect to people from those countries)
I do not want to take any name here because I am not defending anyone. If you can not find the loyal one for your trading work that does not mean that there is no trustworthy broker in the market.
The reason binary options 'brokers' are viewed (rightly so) as scammers is because they are all bucket shop in a less-regulated market. That's a fact.... Like @traderjo says... name one who is correctly regulated. You know why binary options brokers are usually also (linked to) fx-only brokers? Because also FX isn't regulated properly. FX spot is more difficult to regulate, because who actually does the regulatory stuff? EUR.USD trades... is it European or US regulators? Or is it the domicile that dictates the regulatory body? Usually more the domicile... hence why they are often located in Malta, Cyprus, Maldives, Seychelles... those regulators are composed of idiots and you push the right amount to the right people and you get away with a lot. That's also why a lot of pure fx brokers are scammers... more difficult to regulate.... Also, it's less costly to set-up something like that in non-regulated stuff... since regulation means more fees and probably dedicated staff for regulatory issues.. and we all know that scammers don't like to pay lots of money. If it's rotten... it attracts lots of flies and vermin...
Vermin.. yes an apt word... Seychelles. to get "Regulated"in such a country is under $5000 LOL .. people wake up try and learn these words " Over the counter OTC product, Counter party risk, Client money protections
I have never worked with any Binary Broker so do not have an idea about any regular broker but it does not mean that you are never going to find the trusted one.
I will too LOL...EshaJ do you know the fundamental difference between and OTC product like Binary options and exchange traded products... pause for a moment and see why there is so much bad press about this Binary Options phenomena !