When a binary-options platform settles a trade differently from what a customer expected, first preserve the information needed to reconstruct the contract. The CFTC describes binary options as yes-or-no propositions tied to an underlying price at a set time and date, and its consumer guidance advises users to understand the terms and check the platform. This checklist is editorial process advice, not a legal standard. CFTC: Avoid Unregistered Binary Options Trading Platforms
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.
Contract version, timestamps and price source help establish what the platform applied.
Contract version, timestamps and price source help establish what the platform applied.
A price difference does not alone prove misconduct; the specified source and terms matter.
Capture the exact rule that was active when the trade opened
Save the full contract specification and platform terms in force when the position was placed. Record the underlying instrument, exact yes-or-no condition, scheduled expiry, time zone and any rule for ties, missing data, market closures or quote corrections. If the site shows a later version, retain both and note when each was available.
Keep the trade confirmation with its unique identifier, entry time, contract opened, quoted payout and displayed expiry. Save the account statement before and after settlement, including fees or balance changes. A promotional screenshot usually omits the terms that decide the outcome, so preserve the product page and any linked rules separately.
The CFTC consumer advisory explains that binary options have a defined condition and set time or date, while warning that unregistered websites can present additional risks. That makes precise terms central to any review. It does not prove every provider uses the same reference feed or that a disputed settlement was wrong. CFTC: Avoid Unregistered Binary Options Trading Platforms
Align the platform clock with the contract’s price source
Record the platform’s stated time zone and compare it with the timestamp in the trade log. If expiry is shown in local time, note the location and daylight-saving status for that date. Where possible, retain the provider’s stated data source, the value shown at expiry and any correction notice. Do not substitute another vendor’s chart without documenting the source difference.
Build a short chronology: order accepted, contract opened, expiry reached, settlement posted, dispute submitted and response received. Include the device clock and any platform server time disclosed by the provider. The purpose is to find a verifiable discrepancy—not to assume that feeds with different timestamps or calculation rules should produce identical values.
If the provider says an outage, market closure or price correction affected the trade, ask for the specific rule clause and records used. Keep the reply with the original contract terms. A vague statement that the result is final does not answer which data point was used, but the customer should avoid making accusations before the evidence is compared.
Ask one precise question and retain the complete response
Write to the legal entity named in the agreement with the trade ID, rule version, stated expiry, displayed reference value and point of disagreement. Ask the provider to identify its price source, timestamp, settlement calculation and any rule it relied on. Keep the message factual and attach copies rather than original files.
If the provider is regulated, follow its formal complaint route and verify which regulator or ombudsman has jurisdiction. If you suspect fraud or the firm is unregistered, report through the relevant authority’s official website. The CFTC describes reporting channels and possible dispute mechanisms for eligible customers; the FCA provides UK guidance for complaints and scam reports. CFTC: Six Steps to Take after Discovering Fraud FCA: How to complain and report a scam
A well-organised file can make a complaint easier to review, but it cannot guarantee a refund or change a valid contract outcome. Regulators may use reports to identify patterns rather than resolve an individual payment dispute. Keep dates, case references and responses together, and never share account passwords or wallet recovery phrases as supposed proof.