Binary Options Scams via Wise
How fraudulent binary options platforms ask victims to fund accounts via Wise transfers across borders.
Part of: Binary Options Scams
Last reviewed: 1 June 2026
Fraudulent binary options platforms operating internationally sometimes direct victims to fund accounts through Wise, a multi-currency transfer service. The cross-border framing is used to explain why deposits go to a money transfer recipient rather than a regulated broker account.
Wise is a neutral transfer rail being misused here; the fraud lies with the fake platform. Funds sent to the recipient can be moved on, and the rigged platform blocks withdrawals. Regulated trading does not require Wise transfers to a personal recipient.
How this scam works on Wise
An account manager recruits the victim and recommends funding via Wise to a named recipient, citing favorable international rates. The dashboard then shows gains to encourage more deposits.
When the victim tries to withdraw, the platform demands a fee or tax paid by further Wise transfers. The recipient details point to an individual unrelated to the brand.
The withdrawals never complete, and the funds are dispersed. Recovery depends on how quickly the recipient can be flagged before the money moves on.
Common red flags
- A binary options platform asks you to fund via Wise to a personal recipient
- The recipient name is unrelated to the platform brand
- Withdrawals require more Wise transfers for fees or taxes
- The platform is not registered with your national financial regulator
- An account manager pushes for fast deposits for 'better rates'
- Dashboard profits look too steady to be real
How to protect yourself
- Verify the platform with your national regulator before sending any Wise transfer
- Be wary when a recipient name does not match the platform brand
- Never send more Wise transfers to 'release' a withdrawal
- Report misuse of the transfer service so the recipient can be reviewed
- Keep records of recipients, references, and platform messages
- Report quickly, as transferred funds can be moved on rapidly
How to report it
- Report to your national financial regulator's fraud reporting service
- Report the recipient and transaction to Wise's fraud and support channels
- Report to the FBI Internet Crime Complaint Center at ic3.gov or your local equivalent
Frequently asked questions
Is Wise to blame if a binary options platform uses it?
Wise is a neutral money-transfer service being misused by fraudsters; the responsibility lies with the scam platform. Report the recipient to Wise so it can review the account, but recovery depends on how quickly the funds are flagged.