Binary Options Scams via Skrill
How unregulated binary options platforms use Skrill to accept deposits from traders who can never withdraw their supposed winnings.
Part of: Binary Options Scams
Last reviewed: 1 June 2026
Binary options are a form of speculative trading product that many regulators have banned or heavily restricted because of widespread misuse. Fraudulent binary options platforms encourage traders to deposit via Skrill because digital wallet transfers are fast, easy to accept, and difficult for consumers to dispute once settled.
Victims are shown impressive win rates on a fake trading interface, motivated to deposit more, and then find that withdrawal requires fees the platform manufactures to prevent any real cash from leaving its accounts.
How this scam works on Skrill
The platform advertises through online adverts or social media, promises high returns on binary options trades, and lists Skrill as a simple deposit route. After the first Skrill deposit, the fake trading dashboard shows wins and an apparently growing balance.
With each deposit the account manager applies pressure to deposit more to 'capitalise on current market conditions.' Withdrawal requests are met with a string of compliance fees, tax charges, and minimum-balance requirements, each payable via further Skrill transfers.
When the victim exhausts their willingness to pay, the platform cites a regulatory hold or goes offline entirely.
Common red flags
- A binary options platform accepts Skrill deposits but will not process Skrill withdrawals
- Win rates displayed on the platform are unrealistically high
- An account manager pushes repeatedly for larger Skrill deposits
- Withdrawal requires a separate Skrill compliance fee
- The platform is not registered with your national financial regulator
- The company offers guaranteed profits — which no regulated investment product can do
How to protect yourself
- Verify any trading platform with your national financial regulator before depositing
- Refuse to pay withdrawal fees via Skrill — regulated platforms do not charge these
- Contact Skrill fraud support if deposits were made to a fraudulent binary options platform
- Save all trading records and correspondence as evidence
- Report the platform to your national financial regulator immediately
- Be aware that binary options are banned or restricted in many countries
How to report it
- Report the fraudulent Skrill transactions to Skrill's fraud team
- Report to your national financial services regulator
- File a complaint with your national cybercrime unit or the FTC
Frequently asked questions
Are binary options legal?
Binary options trading is banned or heavily restricted by financial regulators in many countries including the EU, UK, and several other jurisdictions because of the high rate of consumer harm. Any platform offering binary options trading to retail consumers without a valid local regulatory licence is likely operating illegally.