Boss capital is one of the newest binary options brokers around, therefore many people are unsure if this broker is legit or if it’s a scam. In order to answer this question I conducted a comprehensive research.
In short, Boss Capital appears not to be a scam. Check this article below in order to find out why I think this.
Boss Capital Complaints
One of the easiest ways to find out if a binary options broker is a scam or not is to Google it’s name in connection with words such as “fraud”, “scam” and etc. In this case, if we search for “Boss Capital scam” we’ll see that there is indeed a few number of complains around but not that much.
If we look at these complaints we’ll notice that they appear to be from traders who deposited the $200 minimum deposit and then unfortunately lost most of it due to not being able to make correct predictions.
However, it does not appear that these traders lost the money due to a scam on part of Boss Capital but instead have lost the money simply by making bad investments. Every binary option trader should keep in mind that winning requires educating yourself. Binary options aren’t based on luck and chance.
Among the criticism and the complains however it appears that none are for serious issues such as denying withdrawals and rigged software. So, even if it sounds condescending, it really seems that the people who complain about Boss Capital are just soar losers.
There are a few complains that do actually refer to payment issues. These claim that the broker has rejected to execute trader withdrawals. We’ve looked into this and found that these refer to traders accepting bonuses in the past, which then locked their deposit in.
Most binary options brokers offer deposit bonuses to traders. However, the condition of receiving such a bonus is that once the bonus is received traders will have to trade their deposit and bonus amount an X number of times before a withdrawal is permitted.
This rule exists in order to prevent traders from registering, depositing $200, getting around $100 free bonus and then withdrawing $300. However any traders aren’t aware of this because they did not read the broker’s terms and conditions when signing up.
So these traders ended up with their deposit locked in. Now, what these traders do is to go on various popular forums and claim that their Boss Capital has scammed them even though the fact that traders’ money would be locked in case of a bonus was explained in the T&C’s in advance.
I do know that when I write these things I might sound a bit arrogant or condescending but sometimes it’s really traders’ fault when they lose their money either due to not properly understanding how binary options work or by not reading the brokers’ terms and conditions.
In short, if you’ve asked yourself the question whether Boss Capital is a scam or not, then the answer is a no. Boss Capital is not a scam. Besides checking into the complaints made by traders I obviously also traded myself at Boss Capital and did not find anything weird or strange that can be called a scam.
When reviewing Boss Capital I also wrote a full summary, which you can find and read here. I recommend you check it out if you want to learn more about this binary options broker.