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Still, brokers who don't operate under a license are under no obligation to respect CySEC directives or regulatory guidelines by any other government body. This means that they operate in an area that leaves traders unprotected, which is a fertile ground for many scam brokers.
This doesn't mean that all unregulated brokers are scams, but traders should still be careful and research brokers before making a final decision (and initial deposit in the end).
Here you will find 3 binary scams you should definitely avoid.