Note: Brokers Complaint Community has conducted much research before flagging TR Binary Options as a possible scam in this TR Binary Options Review.
Introduction
The financial market has been the boon to many and the bane to some. While a huge amount of people were able to invest safely and earn huge profits in a matter of time. However, the experience in the financial market is not this sweet and fruitful for everyone. Some innocent customers end up getting scammed with all their hard-earned money in the drain. To save you from such brutal scams, we bring to you detailed reviews of brokerage firms that are potential scams. With no regulation and various other red flags, these brokers are not only dangerous but also pitiful.
TR Binary Options claims to be the best broker in the market with a lot of customers from around the world. Formerly known as Trader Rush, they claim to have been present in the market since 2011. Despite being in the financial industry for so long, TR Binary Options poses a lot of red flags. Read on to know more about the red flags in this TR Binary Options review.
About TR Binary Options:
Is TR Binary Options regulated by any of the regulators?
Upon scanning their whole website, we realized that TR Binary Options claims to be situated in Bulgaria. However, no further information is provided as to where exactly the company is or does it have a license from the authorized regulator. This makes it clear that TR Binary Options is an unregulated brokerage firm and is working with no supervision from any of the regulators. Brokerage firms without a license can do whatever to scam their customers and steal all of their money. One must never invest or trade with any unregulated brokerage firm.
What is the minimum deposit demanded by TR Binary Options?
Minimum deposits are generally asked in small amounts just to get done with the formalities of an account. This is the reason why regulated brokerage firms always ask for minimum deposits in between the range of $5 to $10. However, scam brokerage firms have no such obligations as their main motive is to extract as much money as possible from the innocent victims. TR Binary Options demand a minimum deposit of $200. Clearly, it is a much bigger amount than what is asked by legitimate brokerage firms. This is the second red flag pointed out in this TR Binary Options review.
Do they offer bonuses?
Bonus is yet another problematic aspect that has been common with scan brokers. Regulated brokerage firms will always offer low bonuses as it yet again impacts the customer and the company. However, TR Binary Options offers a bonus amount of 100%. It is not even clear if this bonus can be withdrawn by the customer as several scam brokers apply this trick where they claim to provide a 100% bonus but in their terms and conditions, these companies state that it won’t be possible for the customers to retrieve their bonus.
Conclusion: is TR Binary Options a scam or legit?
To conclude, we leave it upon you to decide whether TR Binary Options is a scam or not. We must warn you from investing or trading with this brokerage firm as it is unregulated. Stay safe.
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