High riskCrypto & Investment Scams

Binary Options Scam

In this scam, a binary options platform or 'broker' promises quick, high returns from simple yes/no trades, shows fake gains to lure bigger deposits, then rigs outcomes and blocks withdrawals.

Quick verdict

Risk level
High risk
Scam type
Rigged trading platform
Main red flag
A binary options platform promising quick high returns and pushing more deposits.
What to do first
Avoid unregulated binary options; verify any broker with your regulator.

What this scam usually looks like

In this scam, a binary options platform or 'broker' promises quick, high returns from simple yes/no trades, shows fake gains to lure bigger deposits, then rigs outcomes and blocks withdrawals.

Example message pattern

Example pattern — not a real report
Example pattern: 'Predict up or down and double your money in minutes! Deposit now and our manager will guide your trades to big profits.'

This is a fictional, anonymised example used to illustrate the pattern. It is not a verified real message, and any names are used only to show how the scam typically reads.

Red flags to watch for

  • Promises of quick, high, or guaranteed returns
  • An 'account manager' trading on your behalf
  • Pressure to deposit more to 'unlock' profits
  • Withdrawals blocked behind fees or verification
  • An unregulated platform you cannot verify

What to do

  • Avoid unregulated binary options platforms
  • Verify any broker on your financial regulator's register
  • Withdraw nothing further and do not pay fees to release funds
  • Report it to your regulator and fraud authority

If you already clicked or replied

  • Stop depositing and do not pay 'withdrawal' fees
  • Gather records of the platform and transactions
  • Contact your bank about disputing payments
  • Be wary of recovery firms that target victims

What not to do

  • Do not deposit more to 'unlock' withdrawals
  • Do not let an account manager trade for you
  • Do not trust guaranteed or quick returns

Similar scams

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In this scam, a fake forex broker, 'account manager', or signal group promises high returns, shows fake gains on a slick dashboard, and pressures you to deposit more, then blocks withdrawals or disappears.
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Crypto Investment Scam

This scam promises high or guaranteed crypto returns through a fake platform, shows paper profits to encourage bigger deposits, then blocks withdrawals.
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Boiler Room Stock Scam

In this scam, high-pressure salespeople cold-call or email you to buy shares, often in obscure or worthless companies, using urgency and false promises, then make it impossible to sell or disappear with your money.

Frequently asked questions

Are binary options legitimate investments?
Unregulated binary options are widely associated with fraud, using rigged platforms and blocked withdrawals. Many regulators warn against or ban them.
The platform showed profits. Why can't I withdraw?
The gains are fabricated to encourage bigger deposits, and the fees to withdraw are part of the scam. The funds are usually already gone.
I deposited money. What now?
Stop paying, gather records, contact your bank about disputes, report to your regulator and fraud authority, and avoid recovery firms.
How do I check a broker?
Verify it on your national financial regulator's register and avoid unregulated platforms promising quick or guaranteed returns.

Last reviewed: June 2026

Disclaimer: This page provides educational information only to help you recognise common scam patterns. It is not legal, financial, cybersecurity, or law enforcement advice, and it does not confirm whether any specific message, company, or person is genuine or fraudulent. When in doubt, contact the official organisation directly and report concerns to your local authorities.