We would like to announce that Fair Binary Options will stop promoting unregulated binary options brokers. This decision was made after a series of DDoS attacks our websites experienced after we published an article warning our readers about potentially dangerous and unregulated broker. We are hoping that this decision will increase the level of customer protection, and strengthen our business model.
Established in 2012, Fair Binary Options quickly became the most popular website regarding binary options, as we provided all necessary information for traders all over the world, in 15 languages. By implementing the live chat, we proved once again, that we are highly focused on helping traders make the right decision and assisting them when encountering scam brokers.
During the past 6 years, Fair Binary Options team blacklisted over 80 brands that can be considered suspicious or dangerous. Reasons, why they ended up there, are different: some were withholding withdrawals, others used cold calling and spams, there were brokers who were adding unauthorized bonuses on trading accounts, and brokers who manipulated traders’ funds by using auto trading.
All these practices are not only ruining the reputation of the entire binary industry but can be (and are) extremely harmful for traders.
Unregulated Binary Brokers and Unprofessional Practices
On September 5th, 2016, we blacklisted binary options broker Finpari after we found out from reliable sources that they are not paying some of their partners. According to our experience, this usually means that money is not managed properly and that now they are running out of money which can affect traders as well. The same story was later reported on other affiliate websites.
After the story was published on Fair Binary Options, we experienced heavy DDoS attacks that made our websites unreachable for customers. In only a few hours, our websites were receiving up to 20 billion requests which were impossible to process. Even though it is impossible to be 100% sure that these events are related, al evidence point that these two events might be associated.
We did get a letter from Finpari claiming they will “do all it takes” to protect their reputation. Finministry is the partner program of Finpari.
Only Regulated Binary Options Brokers are Safe Brokers
In our experience, the unprofessional and unethical behavior is usually connected to unregulated brokers. Unregulated brokers are binary brokers who don’t have a proper license by the regulatory agency and aren’t supervised in any way. Following our previous experience, as well as the experience with Finpari, Fair Binary Options made a decision not to promote brokers who are unregulated or unlicensed.
These changes will be implemented during October 2016. We hope they will raise overall awareness of the customers and the industry.
Fair Binary Options is a network of 18 affiliate websites that promotes binary options trading. The mission of the company is to promote only safe binary options brokers to customers while helping customers that have been defrauded while trading binary options.