The CySec has warned the public against worldbinaryoption.com. This is because of practices, licensing, and complaints that CySec has investigated and found to be valid. It’s important to pay attention to these alerts and to steer clear of any broker that has been flagged by them. This includes worldbinaryoption.com.
What Is the CySec?
CySec is the main regulatory body of Cyrpus. One of its many responsibilities is to inspect financial services and to ensure they comply with all rules or regulations. If a financial company doesn’t comply or if they aren’t regulated at all, they may be subject to disciplinary action or CySec will issue a warning about them.
What Are Problems with worldbinaryoption.com?
At least one or more of the following issues have been identified:
There seems to be some uncertainty surrounding worldbinaryoption.com license. They may not have a license at all or they could be violating the terms of their license by signing up clients in areas they are not allowed to operate. worldbinaryoption.com also could have a third-rate or expired license.
worldbinaryoption.com may have misled customers with exaggerations about offerings, promises of certain levels of returns, or contradictory information about terms and conditions or fees.
Lack of Transparency
It’s important to know the identity of people who handle your money for your own security. worldbinaryoption.com apparently has not been candid about details such as names of people who operate it, location, address, and credentials. They may not have been clear about terms and conditions as well.
Broker complaints usually begin with a customer not being able to access their account or make transactions normally. False brokers often make excuses, charge high fees or claim they need to trade more before accessing accounts. However, there is no excuse for not allowing clients access to their money.
worldbinaryoption.com has been flagged by CySec because of a substantial number of customer complaints. These claims have been investigated by CySec and were found to be valid. This is a factor that should be taken seriously as a reason to avoid opening an account with worldbinaryoption.com.
Have You Lost Money to worldbinaryoption.com? Talk to Us!
ReportScamOnline experts understand brokers–reliable ones and scam operations. We have researched brokers and have created these reviews to help consumers make the right choice for trading. We recommend that you avoid the scam brokers mentioned here and instead find a reliable and licensed broker. If you have lost money to this broker, contact us and we will launch an investigation that will bolster your claim.