There was a time when we used to hear the term Binary Options and the broker ’24Option’ used to come in our mind. Such was the trust that they garnered over the due course of time. Unfortunately, all seemed to have ended up in a jiffy when ’24Option’ decided to pull off options trading from its site and now only deals with CFD’s and Forex. As a result, our team at First Option Recovery decided to pull up a thorough investigation into the matter. We decided to trace the number associated with 24Option and called them only to find out that the number traces back to some remote location in South Africa under some call center. And guess what, we were right, the 24Option Scam was indeed operating from some random call center in Israel. This was really startling for us as the broker seemed to be one of the most legitimate binary options brokers in the world.
Let us assure you that very soon, you are going to see ’24Option’ pulling off CFD’s and Forex and running away with your money. When you open the homepage, you are directed to a very well designed website where you are shown that the broker deals with CFD’s and Forex. Unfortunately, some time ago, binary options were also included in it and for now, it is gone, with all the money lost.
24Option having a reputation to maintain and owing to the fear of getting exposed, all thanks to our amazing team at First Option Recovery, has assured its investors that they would soon be funded back their money. However, a lot of them are still waiting to get their money back in their bank account. So far we have seen that a lot of brokers have been disabling options trading from their websites. So, is Binary Options itself a scam and the 24Option Scam is just adding salt to the injury? Let’s find out.
Is Binary Option itself a scam?
No, it is not. Binary Options, in itself, is not. However, do note that Binary Options is a very lucrative field in the trading industry and the returns are usually more than that of the typical forex, commodities and stocks. We, at First Option Recovery, have unearthed a lot of frauds including the 24Option Scam and have successfully recovered funds from all of them.
Being a lucrative field, it has given rise to a lot of frauds in the making which are promising investors with high returns which are more than the average lot. 24Option Scam was among them. A lot of these scam has been unearthed, but some are still running today. The worst part is that many new traders are still falling victims of such scams on a daily basis.
Why 24Option left the Binary Market?
The 24Option Scam was already exposed and although the company did not specify the exact reason (we believe the fear of getting exposed by First Option Recovery among them was extremely high) as to why it left the binary market, experts say that the binary options trading was a scam in the making for the company which was about to be unfolded. The company came to know about it and in order to save itself from the bad ill-fated criticism of the financial experts, decided to remove the Binary Trading Option from its list.
How did the 24Option Scam got exposed?
’24Option’ promised a high return on its trades irrespective of the time and duration of the trade. This was the first sign of the 24Option Scam that was about to unfold where major players, after recommendation from us at First Option Recovery in the field, decided to file a complaint to the regulatory authority about the genuineness of the trading platform. ’24Option’ had to clarify that they have hired the best in class financial experts who have had years of trading experience and the trading algorithm that they offered was created after years of experience, patience and dedication. Some were convinced, others were not.
As of now, Binary Options trading on the platform has been stopped, and the broker is not accepting any new clients from Europe. New clients from the other parts of the world are still open for registration, however, as a fund recovery group, we highly suggest you to not register as a new user until the issue is resolved. Seems like Binary Options was about to commit the biggest financial option scam of the decade but a timely intervention prevented it from happening. All thanks to the 24 Option Scam getting exposed.
What if you have lost your money?
The 24Option Scam definitely led to a lot of investors to lose their money. Although they have assured that you would get the money back, right now, the only way to accentuate the process is to take the help of a fund recovery group. First Option Recovery, as a fund recovery group, has been in the business for over a decade now and with its unique approach and professional methodology of recovering funds, you can place your cent percent trust in us about getting your money back. We also have a dedicated customer service team who is working day in day out to solve all your queries. In spite of the busy schedule, they would entertain your request the moment you contact us and put forward your query to the amazing team of investors that are always there to help you out.