Yes, all binary options sites are SCAMS. Read the SEC warning link below.
Most of them are just online betting at stupid odds. This one has an additional SCAM of the $100 "free deposit". The catch is that you can't withdraw until you have bet 20x the amount. They know the odds are so terrible that you will lose the free money and more before it is possible to withdraw.
It appears to be run out of Cyprus, the financial scam capital of Europe. No investor protection, and not legal for US investors.
Here is the website- http://www.binaryoptionsfree.com/
