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Zoey, JD
Zoey, JD, Criminal lawyer
Category: Fraud Examiner
Satisfied Customers: 23594
Experience:  Active member of the NYS bar since 1989
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Is CWAOptions.com a scam?

Customer Question

Is CWAOptions.com a scam?
Submitted: 4 months ago.
Category: Fraud Examiner
Expert:  Zoey, JD replied 4 months ago.

Hi,

I'm Zoey and I'll be assisting you. Are you online at this time?

Expert:  Zoey, JD replied 4 months ago.

Hello,

Yes, this so-called binary option broker is almost certainly a scam.

For one thing, its WHOIS information shows me that the site was only launched on SEptember 15, 2015 and that it is set to expire on September 15 2016, in two more months. It is always a big red flag when a new company makes unsolicited attractive investment offers but hasn't set its business up to be around for the long haul. One year is the least amount of time one can register a domain, and it makes practical and economic sense for a real company to protect its name for multiple years.

The site's IP address traces to the US where trading by unregulated option brokers is strictly illegal. That's another flag. Also it is using a private proxy service in the UK to hide its actual location and site owner. That's still another. You can confirm all of this by going to www.domaintools.com and running the WHOIS.

So where is this business really? The website claims that it is at*****in London, except that address has virtual rather than actual offices.

Companies HOuse has no listing for any business called CWA Options in the UK and they are not a regulated investment firm listed with your Financial Conduct Authority.

In fact, this company is not regulated anywhere. Unregulated binary brokers are all operating outside of lawful channels and therefore most of them are outright scams.

We hear horror stories just like yours from people who have fallen for attractive proposals advertised by unregulated binary brokers, only to lose their initial investment and then some. Typically, these companies are operating from somewhere offshore out of the reach of your law, making it very tough for a bilked investor to find them and take legal action against them.

Avoid.

Expert:  Zoey, JD replied 4 months ago.

Just checking in to see if you need more help or any clarification of my answer. If so, please reply here on this question thread.

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