Is Binary Capital Markets BCM a Scam

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Is Binary Capital Markets BCM a Scam?

Is Binary Capital Markets BCM a Scam?

A fairly recent addition to the market, Binary Capital Markets, also known as BCM, is a broker that guarantees a tremendous trading experience. Operating from Cyprus, it features great platform design, various banking methods and versatile account packages. Although the offer sounds tempting, the question remains whether this broker is actually safe to trade with. Having second thoughts about trading with BCM? That’s all right; it’s perfectly natural to be careful when dealing with a new broker. However, our experts have conducted a series of advanced security tests and came to a surprising conclusion. If you want to learn more, just keep reading this “Is Binary Capital Markets BCM a Scam?” article and all your questions will be answered!

Is Binary Capital Markets BCM a Scam? | Regulation

If we really want to know is Binary Capital Markets BCM a scam broker or not, we should try to find out if this company is regulated in any way. Fortunately, given the fact that the company headquarters are situated in Cyprus, it abides to regulations defined by CySEC. Also known as the Cyprus Securities and Exchange Commission, this regulatory body provides procedures and rulebooks to which all brokerage companies operating from Cyprus must comply. This guarantees that trading options will always be up to date, with reasonable return rates for chosen investments. Furthermore, it also regulates the broker’s banking policy, meaning that your funds will be perfectly safe when transferred to your Binary Capital Markets BCM Account. More importantly, it ensures that all your earnings will be sent back to your bank account in a fixed time span. Therefore, we really haven’t found any issues regarding this topic, as it is quite clear that this broker is completely legit in this respect. But is Binary Capital Markets BCM a scam when it comes to some other features? Keep on reading and find out the truth!

Binary Capital Markets BCM Legal Information

Is Binary Capital Markets BCM a Scam? | Trading Interface

Since we have already covered the regulation aspect, the following part of this “Is Binary Capital Markets BCM a Scam?” analysis will cover the security of the broker’s trading platform. Here we must state that BCM has obviously invested quite a lot of time and effort in the platform’s design and functionality. What we have here is an ingeniously designed trading interface that’s fast, slick, responsive and easy to understand. Clients can trade with more than 70 assets, and payouts can reach up to 90%, which is great. Doesn’t this sound too good to be true? Is there a catch? Fortunately, we can put your mind at ease, as this platform is nothing if not completely safe. We have executed many trades with various assets and in all trading modes, and we haven’t encountered any sign of fraud whatsoever. Moreover, Binary Capital Markets BCM Demo Account is provided to you the moment you register with this broker. Scammers would never let you try their platform without investing, as their basic modus operandi is to trick you in depositing, then deactivating your account and stealing your money. We give you our word that this will never happen with BinaryCM, so you can trade here without having second thoughts. But what about deposits and withdrawals? Is Binary Capital Markets BCM a scam in terms of banking? Read on and see for yourself!

Binary Capital Markets BCM Compliance

Is Binary Capital Markets BCM a Scam? | Support

Scammers will leave you helpless if (when) you encounter any problems during your trading sessions with them. Therefore, we wanted to check is Binary Capital Markets BCM a scam when it comes to customer support. We’re happy to say that BinaryCM has once again proven its reliability. Their support team can be contacted via phone, e-mail or by using the embedded chat application. All our queries were answered almost instantly, demonstrating clear and professional approach to clients. From our own experience, if you happen to encounter any kind of issue while trading with BCM, this exquisite support team will fix it for you in no time. Also, if you need any more information about this broker, feel free to consult our Binary Capital Markets BCM Review 2020. Now that the situation is pretty clear, it’s time to wrap things up here.

Binary Capital Markets BCM Contact

Is Binary Capital Markets BCM a Scam? | Conclusion

For all those wondering is Binary Capital Markets BCM a scam broker, we have only one answer – not at all. This company has proven its legitimacy and security on multiple occasions, and everything from trading platform all the way to customer support checks out. Therefore, we can honestly recommend you to start trading with this promising broker. Go on, open a free trading account right now and team up with a great and reliable partner!

Binary Capital Markets BCM Trading Platform

Binary Capital Markets BCM Trading Platform

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    1st Place! Best Binary Broker 2020!
    Best Choice for Beginners — Free Education + Free Demo Acc!
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  • Binomo
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    2nd place! Good choice!

BCM (also known as Binary Capital Markets) is the latest addition to the binary options market. Since they opened for business just a couple of weeks ago, we gladly accepted the opportunity to see what they offer. It’s always interesting to see how new companies plan to operate, especially since they have to work extra hard to attract traders. We were not disappointed with their offer, and one the best features they have in their arsenal is Binary Capital Markets BCM Trading Platform. In fact, it is so good that we decided to dedicate an article to it. This way you can get a general idea about the experience that awaits you if you decide to start trading here. Let’s go!

Binary Capital Markets BCM Trading Platform | Possibilities

When we first accessed Binary Capital Markets BCM Trading Platform, we immediately noticed that the design is very good. Everything is clear right from the start, so you will get the hang of things here fairly quickly. For a new broker, BinaryCM offers a lot of options because, apart from the usual binary options trading, you can choose between one-touch options, long-term trading, short-term trading (60 seconds) and more. You can even take a look at the broker’s special offers whenever you want thanks to a button located left of your chart. At the moment, Binary Capital Markets BCM Trading Platform offers more than 70 different assets, which are divided into currencies, commodities, indices and stocks. What is particularly interesting is the fact that payouts go up to 90% here, so you can really do a lot even if you only make a Binary Capital Markets BCM Minimum Deposit. But there is more to discuss about this platform, so stay with us.

Binary Capital Markets BCM Trading Platform

Binary Capital Markets BCM Trading Platform | Software

Binary Capital Markets BCM Trading Platform is based on the latest SpotOption software, meaning you can expect flawless execution of your every order. Indeed, while we were trading here, absolutely no problems were observed and we had a very pleasant trading experience. This really isn’t something that should surprise us, since SpotOption is currently the most popular and probably the best trading software you can find. Additionally, mobile apps for both Android and iOS devices are already available, so from a technical perspective we really can’t ask for anything more from BinaryCM. Everything functions great, plus you can trade whenever and wherever you want, provided that you have an internet connection, of course. Add to that the fact that you can also get a Binary Capital Markets BCM Demo Account here and you know that you’ll have absolutely everything you need to succeed.

Binary Capital Markets BCM One Touch

Binary Capital Markets BCM Trading Platform | Conclusion

Although this broker has just appeared on the market, it is obvious that they are quite serious about succeeding. Binary Capital Markets BCM Trading Platform is a great proof of that. It is based on the best possible software, has numerous options and offers very simple, but extremely efficient design. Even if you’re a complete beginner, everything will become clear to you in a matter of minutes. So if you want a great trading experience, open an account with BCM. They’re new and eager to show you what they know.

How to Spot a Forex Scam

The spot forex market trades over $5 trillion a day, including currency options and futures contracts. With this enormous amount of money floating around in an unregulated spot market that trades instantly, over the counter, with no accountability, forex scams offer unscrupulous operators the lure of earning fortunes in limited amounts of time. While many once-popular scams have ceased—thanks to serious enforcement actions by the Commodity Futures Trading Commission (CFTC) and the 1982 formation of the self-regulatory National Futures Association (NFA)—some old scams linger, and new ones keep popping up.

Back in the Day: The Point-Spread Scam

An old point-spread forex scam was based on computer manipulation of bid-ask spreads. The point spread between the bid and ask basically reflects the commission of a back-and-forth transaction processed through a broker. These spreads typically differ between currency pairs. The scam occurs when those point spreads differ widely among brokers.

Key Takeaways

  • Many scams in the forex market are no longer as pervasive due to tighter regulations, but some problems still exist.
  • One shady practice is when forex brokers offer wide bid-ask spreads on certain currency pairs, making it more difficult to earn profits on trades.
  • Be careful of any offshore, unregulated broker.
  • Individuals and companies that market systems—like signal sellers or robot trading—sometimes sell products that are not tested and do not yield profitable results.
  • If the forex broker is commingling funds or limiting customer withdrawals, it could be an indicator that something fishy is going on.

For instance, some brokers do not offer the normal two-point to three-point spread in the EUR/USD but spreads of seven pips or more. (A pip is the smallest price move that a given exchange rate makes based on market convention. Since most major currency pairs are priced to four decimal places, the smallest change is that of the last decimal point.) Factor in four or more additional pips on every trade, and any potential gains resulting from a good trade can be eaten away by commissions, depending on how the forex broker structures their fees for trading.

This scam has quieted down over the last 10 years, but be careful of any offshore retail brokers that are not regulated by the CFTC, NFA, or their nation of origin. These tendencies still exist, and it’s quite easy for firms to pack up and disappear with the money when confronted with actions. Many saw a jail cell for these computer manipulations. But the majority of violators have historically been United States-based companies, not the offshore ones.

The Signal-Seller Scam

A popular modern-day scam is the signal seller. Signal sellers are retail firms, pooled asset managers, managed account companies, or individual traders that offer a system—for a daily, weekly, or monthly fee—that claims to identify favorable times to buy or sell a currency pair based on professional recommendations that will make anyone wealthy. They tout their long experience and trading abilities, plus testimonials from people who vouch for how great a trader and friend the person is, and the vast wealth that this person has earned for them. All the unsuspecting trader has to do is hand over X amount of dollars for the privilege of trade recommendations.

Many of signal-seller scammers simply collect money from a certain number of traders and disappear. Some will recommend a good trade now and then, to allow the signal money to perpetuate. This new scam is slowly becoming a wider problem. Although there are signal sellers who are honest and perform trade functions as intended, it pays to be skeptical.

“Robot” Scamming in Today’s Market

A persistent scam, old and new, presents itself in some types of forex-developed trading systems. These scammers tout their system’s ability to generate automatic trades that, even while you sleep, earn vast wealth. Today, the new terminology is “robot” because the process is fully automated with computers. Either way, many of these systems have never been submitted for formal review or tested by an independent source.

Examination of a forex robot must include the testing of a trading system’s parameters and optimization codes. If the parameters and optimization codes are invalid, the system will generate random buy and sell signals. This will cause unsuspecting traders to do nothing more than gamble. Although tested systems exist on the market, potential forex traders should do some research before putting money into one of these approaches.

Other Factors to Consider

Traditionally, many trading systems have been quite costly, up to $5,000 or more. This can be viewed as a scam in itself. No trader should pay more than a few hundred dollars for a proper system today. Be especially careful of system sellers who offer programs at exorbitant prices justified by a guarantee of phenomenal results. Instead, look for legitimate sellers whose systems have been properly tested to potentially earn income.

Another persistent problem is the commingling of funds. Without a record of segregated accounts, individuals cannot track the exact performance of their investments. This makes it easier for retail firms to use an investor’s money to pay exorbitant salaries; buy houses, cars, and planes or just disappear with the funds. Section 4D of the Commodity Futures Modernization Act of 2000 addressed the issue of fund segregation; what occurs in other nations is a separate issue.

An important factor to always consider when choosing a broker or a trading system is to be skeptical of promises or promotional material that guarantees a high level of performance.

Other scams and warning signs exist when brokers won’t allow the withdrawal of monies from investor accounts, or when problems exist within the trading platform. For example, can you enter or exit a trade during volatile market action after an economic announcement? If you can’t withdraw money, warning signs should flash. If the trading platform doesn’t operate to your liquidity expectations, warning signs should flash again.

The Bottom Line

Conduct due diligence on the forex broker you’re considering by going to the Background Affiliation Status Information Center (BASIC), created by the NFA. Many changes have driven out the crooks and the old scams and legitimized the system for the many good firms. However, always be wary of new forex scams; the temptation and allure of huge profits will always bring new and more sophisticated scammers to this market.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    1st Place! Best Binary Broker 2020!
    Best Choice for Beginners — Free Education + Free Demo Acc!
    Sign-up and Get Big Bonus:

  • Binomo
    Binomo

    2nd place! Good choice!

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