Many people wonder if binary options are a safe product to invest in. The questions regarding the safety of this product vary, from questions about transferring the money to the trading platform. We will try to answer the most frequently asked questions about the safety of binary options.
Is it safe to transfer money to a binary options broker?
Let’s start by distinguishing 2 types of brokers: regulated ones and non-regulated ones. As far as regulated brokers go, safe money transfers are guaranteed – or the broker risks losing its license. You can safely transfer using the available transfer methods.
Is my money safe in a binary options account?
Once the money has been transferred, you don’t have to worry about someone else grabbing hold of it and stealing it from you. For one, most brokers have an extensive anti-fraud protocol. It requires you proving your identity and address. This may seem a tedious process, but it ensures no one but you can touch your money.
Is the platform secure?
Most brokers use either their own tested and approved software or a white label platform, which is secure all the way. Your trades are securely logged and this log should be available for you to access whenever you want. Again: this is the case for regulated brokers.
Is my privacy guaranteed?
By law, brokers are required to keep your privacy protected. This is something all regulated brokers respect and will guarantee. So you don’t have to worry about your personal data being given to third parties.
Is it always safe?
Unfortunately, there are also less reliable brokers around. These brokers have been listed by us on a special page, called the binary options broker blacklist.