One of the best ways to assess a broker’s reliability is to look at whether the company is registered with the appropriate financial authorities. In the case of Banc de Binary, it has operating licenses from two of the most reputable financial regulators in the world, which are CySEC in Cyprus and the FCA in the UK.
Aside from regulation, another important factor to look at is history. Banc de Binary is a pioneer in the binary options industry and has been in operation since 2009. Over that time, it has managed to remain in good standing with the majority of its clients, which proves that dedication to excellent customer service is important. The few complaints about the company generally relate to the withdrawal process and some traders having difficulty retrieving their money. However, upon further investigation, it appears that traders who experience hurdles in getting their money are not submitting all required paperwork as outlined in the terms and conditions.
By performing a simple web search, you are most likely going to come across some information about Banc de Binary being prohibited from operating within the United States and accepting US traders at all. While this may sound scary on the surface, the only reason why this rule is now in place is because the company is not registered with the CFTC and the SEC. It is not because there was any type of fraudulent or suspicious activity that occurred.
Overall, the answer is no, Banc de Binary is not a scam. The company’s strong history speaks for itself. Add on to that its commitment to innovation and passion for helping customers learn the tools needed to increase profitability and you have a broker who is making every effort to remain transparent, safe, and current in the ever-changing world of financial markets.