If a binary-options website has blocked a withdrawal, demanded a new payment or disappeared, focus first on limiting further loss and preserving the record. The CFTC’s fraud-response guidance recommends steps to guard against additional theft and report suspected fraud. In the UK, retail sale of binary options has been banned since April 2, 2019; rules and reporting routes differ elsewhere. CFTC: Six Steps to Take after Discovering Fraud FCA: Binary options scams and the UK retail prohibition
Follow the evidence
Trace how the event could reach markets, then inspect a competing explanation.
Compare explanations
Switch lenses to see what each account explains—and what remains uncertain.
Evidence preservation and secure reporting can support investigations and payment-provider reviews.
Evidence preservation and secure reporting can support investigations and payment-provider reviews.
Recovery depends on the provider, payment method, legal process and available assets.
Preserve original messages, transactions and account details
Save the website address, app name, account identifier, contract terms, trade confirmations, balance history, withdrawal requests and every response. Keep original emails and message exports with timestamps where possible; take screenshots as supporting copies, not a substitute for underlying files. Record the payment method, date, amount and recipient shown by the bank or wallet.
Do not edit or delete conversations, browser history or account notices before retaining a copy. If the site is accessible, download statements and terms carefully, but do not install new software or share remote access to retrieve them. Preserve blockchain transaction hashes and wallet addresses if a transfer used crypto, while keeping private keys and recovery phrases secret.
The CFTC warns that unregistered binary-options platforms may use misleading claims or fail to return customer funds, and advises consumers to check registration and report suspected fraud. Its general fraud-response page covers steps after discovering fraud involving binary options and other products. This record-organisation checklist is editorial advice. CFTC: Avoid Unregistered Binary Options Trading Platforms CFTC: Six Steps to Take after Discovering Fraud
Treat new payment demands as a separate decision
Do not send another deposit simply because an operator says a tax, verification charge or account upgrade is required to release funds. Verify any claimed obligation independently through official contact details for the relevant institution. A new payment can increase exposure and does not prove that a balance displayed on a website is withdrawable.
Contact the bank, card issuer or payment provider using the number on its official website or statement and ask what dispute, recall or fraud-reporting process may apply. Time limits, eligibility and outcomes vary by method and jurisdiction, so do not assume a chargeback is available. If you shared login details, change passwords from a clean device and enable multi-factor authentication.
In the UK, the FCA says sale of binary options to retail consumers is prohibited and an offer may be unauthorised or a scam. Outside the UK, check local rules and provider registration. A firm’s use of a regulator’s name or logo does not establish authorisation; verify through the regulator’s own register and warning list. FCA: Binary options scams and the UK retail prohibition
Use official channels and keep a dated case log
Report the incident to the financial regulator and law-enforcement or fraud-reporting service responsible for your location. The CFTC accepts reports about suspected fraud involving products within its remit, including binary options, but a report is not a promise that funds will be returned. Use regulator-listed contact routes rather than links supplied by the platform.
Make a one-page chronology with the first contact, each deposit, each trade, the withdrawal request, any refusal and subsequent calls or messages. Attach copies of records and identify what is confirmed versus what the platform merely displayed. Ask for a case reference and preserve it. If a firm is regulated, use its formal complaint process and check the relevant ombudsman or arbitration route.
The CFTC notes that customers of firms it regulates may have access to its Reparations Program or NFA arbitration in eligible circumstances. Those routes do not cover every binary-options website or country. The priority is to stop avoidable follow-on payments, secure accounts and submit a clear report to the right authority. CFTC: Six Steps to Take after Discovering Fraud