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Jul 16

Withdrawing funds from binary options brokers

To my horror, I read a couple of articles about the difficulties experienced by some traders in withdrawing their funds from binary options brokers only after opening my trading account with one of the brokers. While I experience no such issue with Interactive Brokers who I have maintained my account with over the past five years, having read those articles gave me the spooks. Come to think of it, the binary options brokers that I recced through before opening my account are mostly based and headquartered in Cyprus. I will try out the withdrawal process from EZtrader and post on that later on. Hope it will be a swift just like Interactive Brokers.

6 comments

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  1. Marc

    Where did you read this?

    I have also just registered with FXpro, a Cyprus based company. They sponsored English league teams, can’t be that unprofessional right?

    1. fttrader

      Ya, man. Fulham @ Craven Cottage. Love them for beating Man U in one of the season.
      Anyway, Cyprus does have a strict regulatory body for these offshore/overseas brokers. May be nothing to worry about, maybe I was just a bit sceptical having read those articles and googling the word “scam”. These may be poison pills anyway. But as a trader to a trader, it would be wise not to keep all eggs (monies) in (with) one basket (broker). cheers!

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