Binary Option trading is a financial option in which the return is either a fixed monetary amount or nothing at all. The simplicity of the trading makes it attractive to individuals who have no trading experience, which leads to fraudulent brokers setting up shop with the intention of defrauding their clients.
There are two types of binary option; the first is a cash-or-nothing option which pays a fixed amount of cash if the option expires in profit. The second is an asset-or-nothing option which will pay the value of the underlying security.
The forex market is the world's largest trading market, open 24 hours a day. With constant price fluctuations, this market can make people and companies lots of money. Whilst it is a legitimate trading platform, there is no regulated exchange, which allows scammers to take advantage of the situation and the inexperienced traders that are a part of the market.
First Options Recovery has a team of specialist lawyers specialised in Forex fraud and Binary Options trading litigation. We assist traders in civil and criminal actions against unregulated forex companies, online internet fraudsters and pyramid schemes.