Most of the binary options blacklist brokers end up stealing people’s money. They have aggressive selling techniques, dedicated trading managers, that simply don’t care about the basic principle of money management in trading.
Scam brokers will always push for traders to trade more and more. Especially short-term to very-short-term expiration dates. In fact, the chances to be consistently profitable trading one-minute or five-minute binary options are almost close to zero.
Moreover, unverified brokers use the same principles as a market maker broker does in the Forex industry. Namely, they create a “virtual market” for their clients.
In other words, they don’t “route” the orders to the interbank market or other liquidity providers. They keep all their orders in house and bet on the fact that the clients will eventually lose their funds.
When that happens, they book the funds for themselves. There are plenty of software specialized in mirroring quotations.