US Federal Trade Commission (FTC)
A way to spot scams: how someone asks you to pay
The FTC says anyone who insists on a single payment method, such as a transfer, cryptocurrency or gift card, is probably a scammer.
How a platform asks for money can reveal as much as what it promises. This page summarises a US Federal Trade Commission consumer alert about payment methods that scammers favour and the steps the FTC suggests. It is general consumer guidance, does not mention binary options by name, and does not assess any broker.
The Payment Methods the FTC Describes
In its consumer alert of 22 July 2026, the FTC describes a typical turn in a scam: "But then they say the only way to pay is by bank transfer, wire transfer, cryptocurrency, payment app, or gift card." It draws a direct conclusion: "Anyone who says you can only pay in one of these ways is probably a scammer."
Why These Methods Appeal to Scammers
The alert explains the reason: "They always ask you to pay in ways that make it difficult to get your money back." This is why a deposit option that is the only one offered, or a request to switch to a different method after you have started, deserves a pause. For other tactics that lead to a deposit, see binary options scam warning signs and social media scam ads.
What the FTC Suggests
The FTC advises: "Never send money to anyone who says you can only pay with a specific payment method, no matter what reason they give you." It also says: "Pay by credit card whenever possible." The stated reason is: "Credit cards offer more protections and give you the option to dispute charges." Card protections vary by country and by card issuer, so check the terms that apply to you.
If You Have Already Paid
The FTC's instruction is short: "Contact the company you used to send money right away." For how to report a suspected scam to regulators, read how to report a binary options scam. Before depositing anywhere, see how to check whether a broker is regulated.
Frequently Asked Questions
Which payment methods does the FTC say scammers ask for?
The FTC lists bank transfer, wire transfer, cryptocurrency, payment app and gift card as the ways scammers say you must pay.
Why do scammers prefer those methods?
The alert states: "They always ask you to pay in ways that make it difficult to get your money back."
What does the FTC say about paying by credit card?
It says: "Pay by credit card whenever possible." It adds that cards offer more protections and the option to dispute charges.
Does this page address whether an individual could face liability?
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.
Sources and Official References
- FTC: A way to spot scams: how someone asks you to pay (22 July 2026)
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.
This page summarises what the regulators' published guidance says. It does not address whether an individual could face liability. Seek independent legal advice.