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PaulB
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Category: Fraud Examiner
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Over the past 4 months I have put GBP 24,000 into a

Customer Question

Over the past 4 months I have put GBP 24,000 into a Binary-Uno trading account. The account is currently showing in profit USD 100,000 through some successful trades but the company provides ' bonus ' amounts to encourage trades which cannot be repaid until x 30 of the amount has been generated in turnover. It is in their T&C but there is no clear definition of 'bonus' . They are now saying that this includes - so called - guaranteed or insured trades when the market goes against their recommendations. While I can understand the bonus arguement I cannot accept that they include the ' insured' trades - this was never mentioned. So , effectively , you are trapped . Has anyone had experience of Binary Uno ?
Submitted: 6 months ago.
Category: Fraud Examiner
Expert:  Zoey, JD replied 6 months ago.

Hello,

Binary Uno is a completely unregulated binary option site, purportedly operating somewhere offshore from the Seychelles. The WHOIS for the website indicates that the website will turn 2 years old next month and expire a year later.

Binary Uno is not regulated by your Financial Conduct Authority and is operating outside of the reach of your law and regulatory authorities, which makes investing with them very risky. Most unregulated binary brokers are out and out scams.

All unregulated binary brokers make their own rules as they go along and breach their own contracts all of the time. Why? Because they can. Where are you going to really be able to find them to do anything about it if they are not responsive to your complaint?

We hear horror stories all of the time from people who have been swindled by unregulated binary options brokers. Their complaints fall into one of two categories: either the broker makes it virtually impossible to withdraw their funds, or the brokers engage in unauthorized trading and wipe out their accounts.

While we have not received any complaints here about Binary Uno, the firm sounds no better than any of the others. Unregulated binary brokers attract you with promises of huge returns but all of the money goes from you to them.

Financial regulatory authorities all over the world warn you against unregulated binary brokers. While I cannot confirm that they are a scam with any certainty, the risk is high since they are operating in your country without the authority to do so.

Expert:  Zoey, JD replied 6 months ago.

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

Expert:  PaulB replied 6 months ago.

Hi Gordon,

I see you gave my colleague a negative rating, was there something else you needed to know?

Please reconsider the negative rating, as she did give you a detailed and accurate response, even if it wasn't good news.

PaulB, Other
Category: Fraud Examiner
Satisfied Customers: 621
Experience: PaulB
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