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Zoey_JD
Zoey_JD, Criminal attorney
Category: Fraud Examiner
Satisfied Customers: 23538
Experience:  Active member of the NYS bar since 1989
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Is Barkley Options Trader legit? Looking to find out if

Customer Question

Is Barkley Options Trader legit?
JA: The fraud examiner will know what to do. Please tell me everything you can so the fraud examiner can help you best.
Customer: Looking to find out if Binary Options Trader BARKLEY of London is legitimate?
JA: Is there anything else important you think the fraud examiner should know?
Customer: no
Submitted: 27 days ago.
Category: Fraud Examiner
Expert:  Zoey_JD replied 27 days ago.

Hi,

I'm Zoey and I'll be assisting you. I'm reviewing your question now. Please be patient while I research and compose a reply for you.

Expert:  Zoey_JD replied 27 days ago.

No, they are not legitimate, and one reason I know this is that if they were, you wouldn't be able to open up an account with them.

It is unlawful to trade binary options in the US unless you are doing it through a brokerage that has agreed to accept oversight by the Commodity Futures Trading Commission. A so-called brokerage who is not regulated by the CFTC cannot lawfully trade here, and you can't lawfully trade here with them either.

This company is not regulated by the CFTC. You can check to see if a binary broker you are interested in is legally trading in this country by doing a search here.

The legitimate brokerages who are regulated by foreign financial regulatory authorities such as ASIC, the FCA or CySec do not allow US investors to open up accounts because they know it is illegal over here. So the very fact that they allowed you to open up an account means they are an unregulated binary broker. That means they are here illegally to defraud US investors, which is why they won't return your money.

FINRA and the CFTC warn US investors to avoid unregulated binary brokers. This company is not regulated in the UK. THere is no record of them with the Financial Conduct Authority, which regulates UK financial institutions.

You were attracted no doubt by this company's tempting potential investment returns, but attractive promises are not the same as reality.

When binary brokers are completely unregulated and are outside of legal channels, anything goes. Your contract with them and their promises would be meaningless because they can and do make their own rules.

You should avoid them.

Expert:  Zoey_JD replied 26 days 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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