Check the company is regulated
The Financial Conduct Authority, the UK’s financial regulatory authority to monitor and regulate trading companies in United Kingdom, and each company must pass by their control lens, it's the responsible for the regulation of binary options companies,so before everything you do as investor is checking if this company is authorised before paying money.
Also the European regulator European Securities and Markets Authority (ESMA) recently announced indorse many rules to ban binary options in order to protect inexperienced investors, also last year the ( CySec) has taken a strong action against the policy of bonuses granted by companies, especially that brokers who give the bonus apply hidden terms hinder the process of withdrawal before reaching a certain trading volume size or number of traded contracts before the investor can withdraw his money.
CONS : When to be wary Spotting a scam
– Criminals exploit the names of brands or individuals to make scams appear legitimate, so don’t assume an advert is authentic
What victims should do
– Report the fraud to police-run Action Fraud
, on 0300 123 2040
– Call the FCA to report the fraud on 0800 111 6768
– If you paid with debit card, you could make a chargeback request but banks are under no obligation to accept this.
/ Update January 2018 )
We will refund any past Subscription Billing Payment(s) initiated by or through the Merchant provided that: (a) the original authorisation given to us or the Merchant did not specify the exact amount of the Payment and (b) the amount of the Payment exceeded the amount that you could reasonably have expected taking into account your previous spending pattern and the circumstances of the case. You must request such a refund within eight (8) weeks from the date the funds were debited from your Account. You agree to provide us with such informatin on as is reasonably necessary to ascertain whether the conditions for a refund described in this section 6.6.5 are satisfied. Within ten (10) Business Days of receiving a request for a refund or, where applicable, of receiving any further information we requested from you, we will either refund the full amount of the payment or provide you with justification for refusing to refund the payment indicating that you have a right to refer the matter to the Financial Ombudsman Service if you do not accept the justification provided.
By the way if you send money with money transfer service to another Neteller or Skrill user ( Physical person ) not a merchant, you cannot refund your money whatever the case, also neteller and skrill keep all information for receiver private, the name and adress, will not shown to statement or in email notification, so you cannot know where your money go, even if you send money by mistyping mistake to another exist account, there is no way to refund your money, Neteller will remain idle, will not move a finger to mediate between you and the receiver of the amount to try to refund you, although it has the authority and management to contact its customers directly, in this case they will ask to solve your problem by yourself to contact the person by email directly, in this case 99% will reply your email especially because they know that the Neteller Terms Act protects them., and 1% good person, will refund you your money.