--- title: 'Are Binary Options a Scam? (Updated 2026) IQ Option | Quotex | Ebinex' source: 'https://youtube.com/watch?v=tiCZiqSTQC4' video_id: 'tiCZiqSTQC4' date: 2026-08-05 duration_sec: 564 --- # Are Binary Options a Scam? (Updated 2026) IQ Option | Quotex | Ebinex > Source: [Are Binary Options a Scam? (Updated 2026) IQ Option | Quotex | Ebinex](https://youtube.com/watch?v=tiCZiqSTQC4) ## Summary In this video, Leonardo Berman, known as Berman Trader, addresses the question of whether binary options are a scam. He argues that binary options themselves are not a scam, but rather that many brokers and individuals in the industry are fraudulent. He distinguishes between scams and bad business models, and introduces 'new options' as an evolution of binary options, which he claims are trader-versus-trader and more transparent. He advises caution and critical thinking for anyone considering trading. ### Key Points - **Introduction and Credibility** [00:04] — Leonardo Berman introduces himself as Berman Trader, known for trading binary options, but clarifies he no longer trades them. He also trades Forex, crypto, and on the Brazilian stock exchange (B3). - **Defining Scam** [00:48] — Berman explains that a scam is an illegal betting site where you deposit money and can never withdraw it, or a machine programmed so you always lose. He contrasts this with opinions about whether something is 'bad'. - **Binary Options Not a Scam** [02:03] — He states that binary options themselves are not a scam, but there are many fraudulent brokers and people who promise leverage and disappear with money. He emphasizes he never leverages other people's accounts and warns about fake accounts using his name. - **New Options as Evolution** [03:32] — Berman introduces 'new options' as an evolution of binary options, addressing issues like brokers profiting from losses, price manipulation, and lack of transparency. In new options, it's trader vs trader, not trader vs broker. - **How New Options Work** [04:21] — He explains that new options trade on the next candle, allowing an order book to exist. He mentions Ebnex as the only broker offering this option, but advises viewers to do their own research. - **Choosing a Broker** [05:08] — He advises that if you must trade traditional binary options, choose the biggest, longest-established brokers like Deriv, Cotex, Binomo, and Limp Trade, as they are more likely to pay out than 'back-alley' brokers. - **Analogy to College** [06:36] — Berman compares trading to college: many enter, few graduate and get jobs. Low success probability doesn't make it a scam, but it highlights the difficulty and the importance of choosing a good broker. - **Critical Thinking** [07:14] — He urges viewers to think critically and not make decisions based solely on his live trading or Telegram signals groups. He mentions his own live streams on Ebnex, with a profitable May of over R$20,000, but stresses that doesn't guarantee results for others. - **Being Curious and Analytical** [08:15] — Berman advises viewers to research, seek information, and consider the motivations behind advice. He encourages looking at situations from an outside perspective and questioning the speaker's incentives. ### Conclusion Berman concludes that binary options are not inherently a scam, but the industry is full of fraud, so caution and critical thinking are essential. He promotes 'new options' as a better alternative and emphasizes the importance of making informed, independent decisions. ## Transcript this market a scam? My name is Leonardo Berman and I am known as Berman Trader. And the channel you're watching in this video is the biggest YouTube channel in the world that talks about binary options. But I'm not just a trader in that market. Actually, I don't even trade binary options anymore, but I became very well known for trading BO (Binary Options). But I also trade Forex, I also trade cryptocurrencies, and I've traded on the B3 (Brazilian stock exchange). And I want to tell you that no, binary options are not a scam. First, you need to understand what a scam means. What is a coup? For example, do you think What is a coup? For example, do you think online casinos are scams? You might think it's a scam, you might think it's bad. If you think it's a scam, you don't know what the word "scam" means. If you think it's the word "scam" means. If you think it's bad, and I agree with you, that's fine, you have an opinion, you believe it 's bad, and then you'll have your arguments. But the truth is, you can't say it's a scam unless it's an illegal betting site where you deposit money and can never you deposit money and can never withdraw it. That's a scam. Unless you're going to be withdraw it. That's a scam. Unless you're going to be using, operating, you know, betting against a machine programmed so that you always lose. That could be considered a scam if you have no idea what's going on behind the computer screen. If you take a the computer screen. If you take a company that's paying some kind of return, like, for example, there used to be the CDB (Certificate of Deposit) from Banco Master, which paid more than the CDBs from other banks and for a long time wasn't considered a scam until the house of cards collapsed and then everyone saw it was a scam. What I mean by this is that binary options themselves are not a scam. What happens is that there are many fraudulent brokers, there are many people who talk about this market who are scammers, they promise leverage, and then disappear with people's money. I want to make it very clear that I will not you for money, and I do not leverage other people's accounts. I've said this a million times already. Even so, there are people who create fake accounts using my name and manage to scam people daily. Scams involving R$50, R$ 100, and R$1,000 targeting unsuspecting people. But also, geez, are you going to unsuspecting people. But also, geez, are you going to new account"? Don't be naive, okay? So, I'm letting you know right now that I don't do that, I never have, and I never will. The only thing I do that involves the word leverage is live streams where I try to leverage my money live, and then you can see what I'm doing live, and then you can make your decisions and can make a profit, I can lose, anything can happen, there's no guarantee of results, okay? But anyway, as I was saying, binary options are not a scam, but the vast majority of brokers are scammers. The vast majority of people unfortunately, let the money go to their heads and end up doing the wrong things. And as I said before, I no longer trade the binary options market; I trade the new options, which is like the evolution of binary options, taking what's bad in that market, which is what? The brokerage profits from your losses, uh, profits from your losses, uh, price manipulation, lack of transparency, and the new options are trader against trader, not trader against brokerage. So, the brokerage firm doesn't need you to lose money in order for them to make money. Furthermore, these are real, mirrored charts from the world's largest brokers, and they offer high payouts and a more favorable risk-reward ratio than other brokers, okay? The brokerage firm doesn't profit from the loss. So it's a different model. I know it's kind of like binary options, but it 's not exactly binary options. Even the way it operates isn't standard retracement. You trade on the next candle, which is how it's designed so that the order book can exist there. So what happens is that there is an option for you who like binary options, and that is the evolution of this market; it's something better. And the only brokerage that offers this option is Ebnex, which is the brokerage I use. The link you can use is in the description, but do your research first. I'm not making this video to try and promote the brokerage or Binex. I just want to open your eyes. If you're going to trade binary options today, you should always be wary of any broker that exists on the market . All brokers will have complaints, even Forex brokers, especially brokers from the national stock exchange B3. So there will always be complaints. The point is, you prefer it, since you know you have to be cautious, you know you have to be careful, that there any binary options broker, or are you at least going to choose a talking about new options, I'm not talking about BNEX. Let's assume you want to trade OB, binary options, and that's it . Look, it might sound strange to some that I'm saying this, but choose the biggest ones, the ones that have been in the market the longest. There's Deriv, which is antigabiner.com, there's Cotex, there's Binomo, there's Limp Trade. Oh, there's Option, there are a million criticisms to be made about that broker, for example. Yes, but if you're going to take a risk, if you're going to trade traditional binary options , it might be market longer, certainly a broker that already has much more money than if you were to start trading with a back-alley broker, who, if you earn R$1,000, probably won't pay you. But you might make R$1,000 in profit and those other companies might not pay you either, you never know, right? So, what I have to tell you is that binary options are not a scam, but you have to be very careful. Faculty. How many people enter the first year, the first semester, and how many people graduate, how many people get the job? The probability of you being successful is very low. Does that mean college is a scam? No, but the probability of you being successful, completing the course, and getting a job in that field is low, because most people don't manage to finish it. And even making a profit from trading is difficult. And if you're in the options market, with a bad, fraudulent brokerage firm, it's even more difficult. Staying with someone who only wants to screw you over makes it even harder . So, be critical. Stop and think if it makes sense for you to trade if it makes sense for you to trade traditional binary options, or new options, or Forex, or crypto—whatever makes the most sense to you. But don't go making decisions simply because you saw me trading live, or simply because you saw a signals group on Telegram. I'm trading myself, not binary options, but the new options on Ibnex, doing live trading. I'm getting absurd results. I do a live stream there every week. You can see, there's a history on my see the days I win, the days I lose, and the result is growing. The month of May, for example, was a very good profit month, all live, more than 20,000 very good profit month, all live, more than 20,000 positive. And even so, you don't have to start trading just because you see that I'm making a profit. You need to have critical thinking skills in your life. Whatever decision you make, be curious and use your brain. What do you mean by "being curious"? Do your research, seek out more information, but don't just read the information that's being given to you. Think about what's behind the scenes , as if you were doing it from the outside. Try looking at it from a different perspective. speak, like you're listening to me in this video right now, I'm the speaker and you're following along. But you have to look at this situation from the outside, understand my point of view, what 's motivating me to make this video, where I'm going to win, where I'm ? What if I had a different opinion? If I were speaking very speaks badly, why do they speak badly? What kind of life experience does this person have? Stop and think before making any decision in your life. We started talking about binary options, but this topic will help you evolve in your life as a whole. Learning to be intelligent, using your brain, and having critical thinking skills to make decisions. Did you like this video? Leave a like and subscribe to the channel. 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