Online Trading Starts Here
EN /interesting-articles/binary-options-for-beginners/binary-options-fraud/return-money/
AR Arabic
AZ Azerbaijan
CS Czech
DA Danish
DE Deutsche
EL Greek
EN English
ES Spanish
ET Estonian
FI Finnish
FR French
HE Hebrew
HI Hindi
HU Hungarian
HY Armenian
IND Indonesian
IT Italian
JA Japan
KK Kazakh
KM Khmer
KO Korean
MS Melayu
NB Norwegian
NL Dutch
PL Polish
PT Portuguese
RO Romanian
... Русский
SQ Albanian
SV Swedish
TG Tajik
TH Thai
TL Tagalog
TR Turkish
UA Ukrainian
UR Urdu
UZ Uzbek
VI Vietnamese
ZH Chinese
Menu
Advertiser Disclosure

How To Return Your Money From A Binary Scam: A Full Guide

Parshwa Turakhiya
Written by:
Parshwa Turakhiya
Chinmay Soni
Reviewed by:
Chinmay Soni
Mirjan Hipolito
Fact-checked by:
Mirjan Hipolito
Updated:
October 16, 2026

Editorial Note: While we adhere to strict Editorial Integrity, this post may contain references to products from our partners. Here's an explanation for How We Make Money. None of the data and information on this webpage constitutes investment advice according to our Disclaimer.

How to return your money from binary scam:

  • Step 1: Identify you have been scammed

  • Step 2: Gather evidence

  • Step 3: Contact the binary broker

  • Step 4: File a complaint with authorities

  • Step 5: Initiate a chargeback

  • Step 6: Hire a recovery expert

Online trading, especially with binary options, has drawn in a lot of eager new traders.However, the surge in popularity has also led to an alarming rise in binary scams. From fake trading platforms to manipulative brokers, these scams often target traders with the promise of quick profits and minimal risk. If you’ve found yourself a victim, don’t panic. This guide will walk you through binary scam recovery and give you a step-by-step approach to get your money back.

How to get your money back from a binary scam?

Binary options trading is a form of online trading where traders bet on the movement of assets like currencies, stocks, or commodities. Unfortunately, the simplicity of this trading style has been exploited by scammers, leading to significant losses for victims. While binary options trading is legal in certain regulated environments, many unlicensed brokers and fake platforms operate in jurisdictions that are difficult to regulate.

Discovering you’ve been scammed is frustrating, but there are actionable steps you can take to recover your money. Here’s a step-by-step guide to help you initiate a binary scam recovery process.

Step 1: Identify you have been scammed

Before you can take action, confirm that you’ve fallen victim to a scam. Common red flags include:

  • Refusal to release funds. The broker consistently blocks your withdrawal requests.

  • Price manipulation. You notice that trades that should have been profitable were manipulated to show a loss.

  • Unregulated broker. You discover the broker is not registered with any recognized financial authority.

Step 2: Gather evidence

Documentation is key. Collect all emails, chat logs, transaction histories, and any communication with the broker. This evidence will be crucial when filing complaints or engaging in legal processes. The more detailed your documentation, the stronger your case becomes.

Step 3: Contact the binary broker

While many scams operate under false pretenses, you can still try reaching out to the broker. Politely request the release of your funds and attach the evidence you have gathered. In some cases, the broker may respond to avoid regulatory scrutiny. However, don’t count on this step yielding immediate results.

Step 4: File a complaint with authorities

If the broker refuses to cooperate, it’s time to report a binary scammer to the authorities. Depending on your jurisdiction, you can reach out to:

  • The Securities and Exchange Commission (SEC) in the U.S.

  • The Financial Conduct Authority (FCA) in the UK.

  • The Commodity Futures Trading Commission (CFTC) for futures and options-related scams.

Filing a complaint can help start an investigation and potentially lead to legal action against the fraudulent broker.

Step 5: Initiate a chargeback

One of the most effective ways to recover funds is through a chargeback. This involves contacting your debit card or credit card issuer and requesting a reversal of the fraudulent transaction. Here’s how to proceed:

  • Call your card provider and explain that you were scammed.

  • Provide evidence of the scam, including communication with the broker and transaction details.

  • Keep in mind, many banks have a 120-day limit for chargeback claims, so act fast. The chargeback process is often the easiest way to recover funds, as you only deal with your bank and not the scammer.

Step 6: Hire a recovery expert

If chargebacks and complaints don’t yield results, consider hiring a recovery expert. These are professionals who specialize in retrieving funds from fraudulent brokers. However, be cautious, as some recovery firms can also be scams. Only work with reputable companies that have a verifiable track record.

What to consider for traders

If you’re new to online trading, take note of the following:

  • Check whether a broker is genuinely trustworthy. Don’t rely on marketing claims — verify its track record, payout history, and transparency on fees and terms. Read recent reviews from real users in multiple sources, look for consistent, long-standing operations and responsive support, and always test with a small deposit and withdrawal before committing more funds.

Best binary options brokers
Foundation year Min. deposit Min. trade size Min. Payout (%) Max. Payout (%) Demo Open an account

CloseOption

2013 5 1 17 95 Yes Go to broker
Your capital is at risk.

Capitalcore

2019 10 1 60 90 Yes Go to broker
Your capital is at risk.

Nadex

2009 250 1 No 100 Yes Study review

Pocket Option

2017 5 1 50 128 Yes Go to broker
Your capital is at risk.

QUOTEX

2019 10 1 20 98 Yes Go to broker
Your capital is at risk.

  • Try a small withdrawal early on. Lots of scams make it tough to get your money out, especially when you need it. Do a test withdrawal early to check if they play fair or add surprise rules or fees.

  • Don’t fall for high-return promises. If the broker says you’ll get huge returns, pause and think. Real trading has risks, and “sure bets” are rarely legit. Look for reasonable returns that align with what other legit brokers offer.

  • Beware of pushy sales moves. If someone’s pushing you to deposit fast or dangling bonuses for more trades, it’s fishy. Real brokers don’t need to pressure you or create urgency around deposits.

  • Be careful with your info. If the broker’s asking for a lot of personal details or documents, make sure their site is secure (look for HTTPS and a padlock). Scammers sometimes ask for this info to misuse it, so be cautious.

Pros and cons of fund recovery

  • Pros
  • Cons

  • Potential financial restoration. Successful recovery of lost funds can help restore financial stability.

  • Prevention of future scams. Taking action can lead to legal consequences for scammers, preventing them from targeting others.

  • Complexity. The recovery process can be lengthy, and there are no guarantees.

  • Legal costs. Pursuing recovery through legal channels can be expensive, especially for cross-border scams.

Risks and warnings

Recovering funds from a binary scam isn’t always straightforward, and there are significant risks involved:

  • Unregulated brokers. Many scams operate from jurisdictions where regulations are weak or non-existent.

  • Time limits for recovery. The window to file a chargeback or legal claim is limited, so act quickly.

  • Further scams. Be wary of companies offering “guaranteed recovery” services, as some of them are additional scams targeting already defrauded individuals.

It is important to trade with regulated brokers

Anastasiia Chabaniuk
Anastasiia Chabaniuk Educational Content Editor

When you’re starting out with a binary options platform, try contacting their support team with a simple question — like asking how they protect your account or how to navigate the platform. If the broker dodges basic questions or gives vague answers, it’s a bad sign. Good platforms are straightforward, so if they act suspicious on small stuff, chances are they’ll be worse when handling your trades.

Also, pay close attention to how brokers handle big market changes. Real brokers are upfront about things like fee changes or trade adjustments when the market is swinging. Scammers, on the other hand, often keep these rules hidden or make sudden changes to trap traders. Check trading communities to see if people have had similar experiences. If you see that the broker messes with trading terms when it’s convenient for them, steer clear!

Conclusion

Recovering funds lost to binary scams is challenging but not impossible when you approach the process methodically and persistently. By gathering all evidence, reporting the fraud to authorities, and seeking help from recovery professionals, victims can significantly increase their chances of reclaiming lost assets. For example, reaching out to reputable financial institutions or legal experts has helped many individuals navigate the complex terrain of scam recovery. Remember, acting swiftly and avoiding further engagement with scammers is crucial. Ultimately, taking informed and decisive action is the most powerful tool in regaining control and forging a path toward justice and financial recovery.

FAQs

What are the warning signs that indicate a binary broker may be operating a scam?

Common warning signs include repeated refusal to release your funds, manipulation of trade outcomes to show false losses, lack of registration with recognized financial authorities, and high-pressure sales tactics urging larger deposits or immediate action.

Is there a time limit for recovering money lost in a binary scam, and why is acting quickly important?

Yes, there are often strict time limits for initiating chargebacks or filing legal claims—typically around 120 days with most banks for card transactions. Acting quickly increases your chances of successful recovery and can help authorities respond effectively to the complaint.

What risks should you be aware of when pursuing recovery of funds from a binary scam?

Pursuing recovery involves risks like encountering further scams from illegitimate recovery firms, potential high legal costs, complexity in cross-border cases, and no guarantee of restored funds. It's important to verify any recovery service and be cautious throughout the process.

How can you check if an online trading platform is safe and reputable before depositing funds?

To assess a platform’s safety, verify regulatory status with recognized authorities, check for transparent trading terms and fees, research user reviews from multiple sources, confirm responsive customer support, and start with small deposit and withdrawal tests to evaluate reliability.

Editors' Top Picks and Insights

All news
What is Binary Options Trading? How Does It Work?
Mikhail Vnuchkov
2 days ago
Testing Binary Options Trading Strategies
Andrey Mastykin
2 days ago
Mastering Binary Options Trading Performance Analysis
Chinmay Soni
2 days ago
How AI Trading Bots Influence Binary Options Trading Decisions: TU Research
Anastasiia Chabaniuk
2 days ago
Do Most Binary Options Traders Lose Money?
Aleksandra Chaikina
2 days ago

Team that worked on the article

Parshwa Turakhiya
Parshwa Turakhiya
Editorial Standards Specialist

Parshwa is a content expert and finance professional possessing deep knowledge of stock and options trading, technical and fundamental analysis, and equity research. As a Chartered Accountant Finalist, Parshwa also has expertise in Forex, crypto trading, and personal taxation.

Learn about our editorial policies
Chinmay Soni
Chinmay Soni
Head of Fact-Checking Department

Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data.

Mirjan Hipolito
Mirjan Hipolito
Cryptocurrency and stock expert

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets.

Glossary for novice traders
Fundamental Analysis

Fundamental analysis is a method or tool that investors use that seeks to determine the intrinsic value of a security by examining economic and financial factors. It considers macroeconomic factors such as the state of the economy and industry conditions.

CFD

CFD is a contract between an investor/trader and seller that demonstrates that the trader will need to pay the price difference between the current value of the asset and its value at the time of contract to the seller.

Options trading

Options trading is a financial derivative strategy that involves the buying and selling of options contracts, which give traders the right (but not the obligation) to buy or sell an underlying asset at a specified price, known as the strike price, before or on a predetermined expiration date. There are two main types of options: call options, which allow the holder to buy the underlying asset, and put options, which allow the holder to sell the underlying asset.

Yield

Yield refers to the earnings or income derived from an investment. It mirrors the returns generated by owning assets such as stocks, bonds, or other financial instruments.

Index

Index in trading is the measure of the performance of a group of stocks, which can include the assets and securities in it.

Table of Contents
Table of Contents
Who We Are
Business Solutions
For Users
TU News
Popular Sections
Disclosures
CONTACT US
Legal
We are in Social Media
© IAFT Ltd., 2010-2026 All rights to the website are owned by IAFT Ltd.,
Registration number - HE 336186
  • Risk disclosure:

    Information on the TradersUnion.com website is for informational purposes only and does not constitute any motive or suggestion to visitors to invest money. Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk. According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit. Trading in futures and options carries substantial risk of loss and is not suitable for every investor.

    That is why you should only invest money that you are prepared — or can afford — to lose at such high risks. Tradersunion.com does not provide any financial services, including investment or financial advisory services. Also, the Traders Union is not a broker and does not get money for trading in the Forex or CFD markets. Our website only provides information on brokers and the markets and helps its users to select the best brokerage company based on detailed information and objective analysis of brokers.

  • Disclaimer:

    Traders Union (TradersUnion.com) shall not be liable for the consequences of trading decisions made by the Client and for the possible loss of his capital resulting from the use of this website and information published on it.

    Forex market, CFD and cryptocurrency trading involves high risks and is not suitable for everyone. Before investing money, you need to adequately assess the level of your expertise and be aware of the risks, particularly in the context of trading with leverage. The information on this website is not intended for distribution or use by any person in any country or jurisdiction, where such distribution or use would be in violation of the local law or regulation. Any payments by Traders Union (TradersUnion.com) to the users of our website shall be legally interpreted solely as an incentive on our part for the activity on the website in the form of a deduction of a part of the advertising income; they shall not be a subject of any claims of our users or our obligations, a subject of disputes, as well as cannot be considered in relation to the services provided to users by brokers, both in fact and in their completeness and volume. The administration of the website shall not be liable for the content of user comments and reviews about the companies and shall not verify whether the authors of the reviews are indeed real clients of a specific company. All reviews, both negative and positive are published on the website without verification of their reliability; only offensive reviews that call for violence or any kind of discrimination and also reviews published from one group of IP addresses are moderated and removed. The authors of the materials shall be fully liable for the accuracy, completeness and impartiality of any information in the articles and reviews, including in the context of their use or mention of any brand names or trademarks. All mentions of the names of companies and their brands in any materials on the website shall be made in the context of communication of socially important information to the people about their activities by independent journalists, who are the authors. All evaluations and indicators on the website express the subjective opinion of the authors of the reviews (articles) and shall not be viewed as accurate statements and be a subject of disputes and claims against Traders Union.

  • Disclosure of advertisers and revenues:

    All the services on the Tradersunion.com website are free for you to use. Our team spends thousands of hours per annum researching brokers and gathering information about them to help investors all over the world to choose reliable companies and to avoid fraudsters.

    Indeed, the curating, sourcing, and organization of this process requires substantial financial investment by Tradersunion.com, which the website earns in the form of advertising payments. There are two types of advertising services on the website — direct advertising or partner (broker) participation programs. However, no services purchased by our partners shall affect the recommendations on our website, or our opinions, or ratings. Our ratings are based on our objective rating criteria and methodology; and the results are always equally and fairly applied to each broker. The work of our content authors and research groups does not involve any interaction with our advertisers and they do not have access to data concerning the amount of advertising purchased. For over 10 years we consider our independence, absolute openness, and objectivity as our main priority. Please follow the links to each of our affiliated broker’s websites. This will help Tradersunion.com to continue to provide our services to you for free.

onepercentfortheplanet.org https://gdpr.eu/ GDPR World Association of News Publishers