Binary option scams

binary option scams Binary Options Scam - The Shocking Truth. A binary options scam is something anyone can avoid with the right information. Due to the amount of binary options brokers out there, it is very important that you know exactly who to trust and what to expect. So, how can you prevent a scam from happening to you? Don't sign up to a broker that is from a country which does not have a strong regulatory system.

There's no point in having the best binary options strategy if the broker you are working with is not carefully regulated. This can lead to problems with withdrawing funds, slow trading platforms that get stuck and may result in you losing your money, little to no customer support, and the list goes on. Look out for different binary options complaints about the broker you are interested in joining. If you find any negative comments or scams about the broker, then you need to be careful.

If, after doing all your research, you find that this binary broker has not responded to the negative comments out there, then it is advisable that you reconsider joining this broker since this shows that this broker is not active in fixing problems or improving their reputation. Try before you buy - it is important to test out the broker before you make any financial commitments. You can prevent a fixed return options scam by seeing if the broker's platform has all the useful features necessary to compliment your binary options strategy, responds quickly, answers your questions and offers you professional and reliable advice. Join forums or chat rooms and see what binary options scam is currently being discussed.

You will be amazed how much information you can collect from other people's experiences by simply asking around. You can also apply similar steps of caution if you are thinking about joining a particular binary options signals provider. Common Binary Options Complaints. Here are all the main scams that you should be aware of if you want to become successful in binary options trading Credible binary options brokers are registered with trustworthy bodies and thus are transparent about their activities.

If you therefore come across a broker that lists down non-credible regulatory bodies, or is not registered with a professional body at all, then this is likely to be a scam. You should also be aware that not everything is as it seems on the surface. For example, some brokers will use deposit bonuses with unfavourable small print terms to try and encourage you to join their site. It can be really frustrating if a broker promises a big sign-up bonus and then later you realise that you need to make two times or even three times turnover before you can have access to your bonus money.

So, you will have to risk two to three times the amount of your original deposit before you are entitled to your bonus money. Although this is not necessarily a binary options scam, it is something that you can easily be tricked into if you are not careful. A binary options scam out there that you should be aware of is Terms & Conditions manipulation. You see it is very hard for you to develop any trust with any broker if they have the power to change their Terms & Conditions at any specific point. This is why it is essential that you look out for clauses in their Terms & Conditions that allow for retroactive changes, particularly regarding payouts.

There are many binary options complaints out there that can be avoided just by becoming a little more savvy. So, now that you know how to avoid a digital options scam, here is one simple step you can take to find the best brokers out there Check out our up-to-date review page where we list the Top Regulated Binary Options Brokers currently in the market. For example, all Banc de Binary reviews are very positive and they have never been linked to any binary options scam, so you will find that they have been awarded a leading position on our list. To carry on becoming more savvy about binary options trading and how to avoid ever experiencing a binary options scam, simply carry on learning new material from OptionsBee .

Scam Trading Brokers. Scam Option is the best place for investors and day traders to research binary options and Forex brokers, and read honest reviews of automated trading robots. Investors in Forex and Binary Options, both new and experienced, will find updated and accurate reviews of the best brokers for trading online. The Best Binary Options Brokers.

If you want to know which broker is currently the best and most popular, then visit the updated list of Best Binary Options Brokers. It is a known fact that there are more than 200 binary option brokers to choose from, and only a handful of them are actually legitimate licensed financial institutions. The risk of opening a trading account with a scam broker is very high. Depending on which country you live in determines which broker is the best one for you. When we compare binary option brokers, one of the ways to determine the legitimacy of a broker, is their regulatory status.

Meaning, does the broker have a license to offer trading in binary options. Automated Trading Robots. The purpose of a robot, or automated trading software, is to assist traders in making profits when trading binary options. There are hundreds of auto trading apps and robots.

Many of them are the same scam robot, just with a different name. To properly compare a trading signals service or trading robot, a trader must first be able to test out the service. Many signal services force you to deposit money into your trading account before letting you see the software and signals. See an updated list of the most popular Binary Option Robots.

Compare Binary Option Brokers. When you are comparing binary options brokers, here are the important things to check for Does the broker have a license? Is there an automatic signup bonus? Is the trading platform user friendly? Do they offer high returns on the binary options you will be trading?

Is customer service friendly or pushy? Many traders make the mistake of opening an account with a broker that was recommended to them by an infomercial type advertisement they saw. There are untrustworthy brokers that use clever marketing gimmicks and free automatic trading robot software to lure in unsuspecting clients.

Make sure you do your proper homework and read reviews of multiple binary options brokers. Brokers Trading Software. There are currently 10 different trading platforms that binary options brokers use. This is different than Forex Dealers who give their traders the MetaTrader5 trading platform to use. With binary option brokers, all brokers use a web based trading platform.

The handful of brokers that offer their own custom trading platform, have more flexibility when it comes to introducing new assets for trading. Either the trading platform is developed by the broker, or the broker uses a “white label” software from a company like SpotOption, Scipio, Panda, Tech Financials, AirSoft, TradeSmarter, Tradologic or Markets Pulse. What if you could recover the money you lost from. Binary Options Scams?

Is it possible to get my money back? YES! You might feel lost for hope.

After all, it is incredibly frustrating when no one answers your calls, leaving completely in the dark with all your money gone and no one to help you. Filing for a chargeback is also time-consuming and 910 a lost cause. That is where we come in! With an 82% success rate , and the option of no win, no fee, we fight for you! We can get you your money back from binary options scams with a 91% success rate of recovering 100% of your deposited money.

Recovering your losses with Winchargeback. Our team is collated by industry professionals who know exactly how to get your money back in the shortest time-frame. Unfortunately, too many people have fallen victim to the vast array of binary options frauds , resulting in large losses, some accountable for life-changing consequences. Our goal here is simple, we will fight for your rights and get your money back, fast.

We use highly targeted and strategic methods which allows us to take back control and expose their flaws, making us almost unbeatable. Our years of expertise grant you the highest success rate of 82%. Is there such thing as a ‘good Binary Options’ firm? NO. Unfortunately, regardless of what you have been told, there really is no such thing. Binary Options is a complete scam, whilst you may have withdrawn money at some point, most withdrawals are forbidden, due to the unrealistic bonus contracts that tie you in for up to and over a year. In between that time-frame they will cause you to lose all your money with extremely high-risk and robotic algorithms.

Be warned that Binary Options Scam is currently banned in Belgium, with France and other European countries to follow. Also in Canada, Australia and more… The Binary Options industry are scamming millions, we can provide you with the ugly facts here. DO NOT invest with binary at any cost.

They are 100% fraud . Is there any risk involved? We have various plans on offer to you from NO WIN - NO FEE all the way up to full legal representation. Simply pick your plan and we will pair you with a member of our team who will assist you in every way possible.

Determine which plan is best for you here or call us today. Binary Options Trading Scam. The scam starts before the investor even opens their brokerage account! Many new binary option traders get hooked by a video about binary trading signals, or a binary options robot.

The Scam Works Like This A fake company opens a website that looks like a legitimate binary options broker. They create a trading signals software that promises 100% accuracy and 100% guarantee! When you join the scam, you quickly lose your initial deposit of $250.

You then get a phone call from a “senior broker” asking you to invest $5000. If you are now having difficulty withdrawing your money from a broker, read this. Start with Demo Trading. The smart and best way to start trading, is with a legitimate regulated broker that offers you a free demo account.

AVAtrade is the most popular licensed Forex broker in the world. Get a Free Demo Account signup here. How to Prevent Becoming a Scam Victim. The first step to avoid a binary options scam, is to properly research the binary options broker.

Most review websites only give generic information about the brokers. Does the broker have a license from a real government regulator like the CFTC, FCA, FSB or ASIC? Is the broker constantly calling you to deposit more money? Does the brokers license protect investors from your country? Has the broker been fined for unethical business practices by their regulator?

The second step is to choose a good trading signals system or robot. Never use a robot that asks you to make a deposit, before you can see the settings. Testimonials are all fake and illegal according to CySEC rules.

Never follow a trading signal unless it fits with your trading strategy. Remember, the software that created your account, can place trades on your account. Historical performance is never an indication of future results. Read the trader discussions on the binary options forum.

Binary options trading scams are a very common occurrence now. Do your research, and don’t get excited about making $1,000 by doing nothing. For every broker you find, and every trading system you hear about, there are 10 others who offer the exact same thing. Just look at the list of trading signals software. You should familiarize yourself with what it takes for a broker to be named one of the best binary option brokers.

The most popular automated trading software is the Option Robot Pro. It is the #1 software that visitors to ScamBroker. com use, because it connects with licensed brokers. When choosing a broker, make sure you are using a locally licensed and regulated broker, choose one here. The Binary Options Blacklist with Reviews & Ratings.

The Blacklist – Brokers To Avoid. Helping you avoid the scam brokers and find the legit ones is why we created the trader driven Binary Options Blacklist . We welcome you to our virtually ‘no holds barred’ ratings, comments and broker reviews website.

The binary options industry experienced an increased in popularity lately. Traders from all over the world now have access to an industry that prides itself as being the simplest form of trading. Yet, there’s a lot of controversy surrounding it. Many brokers simply fly under the radar. Meaning, they’re not regulated.

Others, simply don’t operate legally in a country or territory. For this, they use offshore companies. In other parts of the world, trading binary options is simply illegal. It’s not allowed for a broker to offer the services.

Moreover, on top of all these, in most of the countries in the world, there’s no legislation. Because of that, brokers found an opportunity to profit from people’s desire to make a quick buck. As such, the industry is plagued with scammers. Not all brokers fall into this category, though.

Many of them run eligible businesses. However, the problem comes not from the broker’s side, but from the traders. Traders have the impression binary options is an easy game. First, this is not a game. Second, it can be anything, but trading binary options is not easy.

When compared with other financial products and financial sectors, trading binary options comes with a handicap. From the start, the traders must use a risk-reward ratio that is unfair. To put this into perspective, imagine the Forex industry.

Any serious trader doesn’t even think of going in a trade without 12 or more as a risk-reward ratio. This means that for every pip or amount risk, the expected reward is minimum two times. This gives room for error and allows traders to incorporate losses while the account still grows. In the binary options industry, the maximum reward is around 90%, with most of the times the rate or return being well below this number. From the start, traders face tough conditions.

What Are Binary Options. In principle, trading a binary option is a super-simple process. Or, at least, it should be. All you should do as a trader is to guess the direction of a market or financial product.

Namely, if you think the price of an underlying security will move to the upside, then you should trade a call option. On the other hand, if you think it will fall, you’ll trade a put option. Note that you can only buy an option. A put for a bearish setup and a call for a bullish one. When compared with Forex trading, the difference is that a Forex trader buys or goes long, and sells or goes short.

Still, heshe needs to give the general direction. Moreover, when it comes to binary trading, traders must set an expiration date. In fact, a binary option has two elements traders need to decide upon the striking price and the expiration date.

No only traders need to indicate the direction (that’s the entry price or the striking price), but they need to indicate a point in time when the option will expire. In plain English, a point in time when the comparison between the striking price and current price will be made. Based on the outcome, it is said that the option expires in the money or out of the money. The pros of trading binary options come from the simplicity of the product.

Moreover, with a sound money management plan and avoiding short-term expiration date, trading binary options is a nice way to diversify a portfolio. Unfortunately, the cons overcome the pros. Because traders need to indicate the time element. The holy grail in trading is price and time, and binary options include them both. Binary Options Scams, Ripoffs & Bad Trading Sites.

As mentioned earlier, the industry is plagued with binary options scam brokers. Because of this, it is very difficult to read a positive review even for good brokers. Traders must know one thing in advance a broker must be regulated.

This is not valid only for the binary options industry. In general, if you place your money in a trading account, you’ll want that entity to be regulated. The financial authority that regulates a broker gives a license number. To be regulated, the broker must follow specific rules and have a specific conduct when doing business. The license can be suspended if the financial authority finds out otherwise.

Unfortunately, regulation costs money. It is an expensive process and brokers don’t like spending money if they can find other ways to attract traders. As such, they register the company in an offshore environment, without being regulated by a financial authority.

From this moment, scamming people is quite easy. The most popular and “legal” way to scam traders is to offer them a welcome bonus. This is similar to the Trojan horse in the Greek drama story. The thing is that the brokers offer the bonus but tie it up to a super-unrealistic trading volume.

In other words, traders can’t even withdraw their deposit, until the trading volume is reached. Needless to say that the more you trade, the more risks you’ll take, and, in the end, the chances are with the broker, meaning traders will lose their capital. Statistically, in Forex trading, over ninety percent of retail traders lose their first deposit.

In binary trading, the chances are even bigger than the ones in the Forex industry. A bad trading site doesn’t make public the registrationregulation number. That’s the first sign the broker is not trustworthy.

We use the comments here on the binaryoptionsblacklist. com to rate and classify different brokers. A green badge means the broker is trustworthy, according to the median of the comments here, and is verified.

An unverified broker gets an orange badge, while a scam deserves nothing but a red badge. Approved – A green badge means this is a broker that we trust. We would and or do trade with today. These are the current leaders of the binary options industry, & where the majority of traders are trading today. They have a positive reputation in general, a track record of integrity, fairness and competitive returns.

We feel most confident trading binary options at these sites. Use Caution – A yellow badge means that we have not done enough research to decide on this broker yet. This is a broker that has been recommended by others as a place to trade. There was not enough info to make an informed decision about the broker to rate them green or blacklisted.

Comments and trader reviews highly encouraged on yellow rated sites to help educate everyone and update our ratings. BlackListed – When a broker has the blacklisted red badge this means that we would not trade there. There is enough negative information found through our research that we decided this is not a binary trading broker that we would feel comfortable depositing money at. Since we would not deposit our money there, they get the Black List badge. Binary Options Trading Sites Listings – How We Get Our Top List.

Without being regulated, a broker will always have a dark shadow on its name. The purpose of regulation is to protect customer’s interests. A good example comes from the Forex industry.

When the SNB (Swiss National Bank) dropped the peg on the 1.20 floor on the EURCHF pair, many brokers went busted. However, because they were regulated, the clients could receive the money from their trading account. It took a few months, but the whole process was well-communicated and there was never a shadow of a doubt that the financial authority would not step in. As such, regulation is a must. Regulation comes with specific conduct. A broker cannot simply do what it wants with the funds it receives.

Tougher regulation comes with segregated accounts. It means the funds deposited will not be touched by the broker. They’ll be deposited in a separate, segregated account at a custodial bank.

The broker will only earn from commissions and fees. This way, everyone’s interests will be aligned in the same direction. A good broker doesn’t have a minimum deposit. Or, if it does, it is quite small. They leave the option in the hands of the trader and use the time they trade to offer the best possible trading experience.

Starting with the opening of an account process and ending with withdrawals, there should be no flaws what-so-ever. Typically, a good broker will have good reviews. However, even reviews are sometimes scams.

Because of the tough competition, people are sometimes paid to say things about a broker. Other things like the possibility to trade on a demo account, to choose if you want a bonus or not, if the broker offers a trading app or not – all these are part of a good broker. However, everything comes after regulation.

Scam Brokers and Claims of Fraud and Theft – What Is Really Going On? Unfortunately, the binary options industry has a bad reputation. The problems start from the way the industry is advertised. Traders should know that buying a call or a put option requires the same strategy as buying or selling any financial product.

Therefore, everything is the same. While traders know there’s a lot of risk involved and succeeding in financial trading is not an easy task, the binary options traders fall prey to false advertising. How many of you saw at least one commercial in your Inbox or online saying that the lady that sells groceries just made a profit of a thousand dollars in a day? Probably all of you.

Now, let’s try to keep it real. Why would anyone advertise like this? Moreover, why would anyone believe this is true? In fact, binary options trading is no different than Forex trading, or CFD’s, Stocks, and so on. The process is the same traders use technical or fundamental analysis to buysell a financial product. What makes binary options even more difficult is the time element.

Traders must choose an expiration date for their option, on top of the right direction. 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. Independent Binary Broker Reviews – Comments and Ratings from Traders. That is an interesting topic to consider it, especially if traders want to find verified brokers.

There are several things to consider. Firstly, regulation. If the broker is regulated, it means a financial authority verified it and its activities.

Moreover, the process repeats on a constant basis. Secondly, independent parties, like websites as this one, may take upon the task of listing scams in the industry, honest brokers, and give a ranking of good and bad brokers. On top of it, customers reviews matter the most.

Here, too, things must be taken with a grain of salt. There’s a lot of spamming going on. Scam brokers comment and spam forums too. For this, we moderate any obvious spam and links and allow only appropriate behavior. A customer review matters the most in all industries. If a broker scams once, it will do it again, on and on. As such, traders must decide on their own if the broker is indeed the partner they’re looking for.

This feedback helps us with our ratings for the brokers listed here. However, the lists here are just that lists. Traders must know that buying or selling a financial product comes with a risk. While there are plenty of opportunities, there’s also the risk of losing all the capital involved. For this, any broker, no matter if binary or Forex, makes sure the clients know that they should never trade more than they can afford to lose.

Trading is a game of probabilities. But, above anything, trading is not a game. These are real money involved.

As such, traders must know the risks and the potential rewards involved. Moreover, trading is not an easy task. There’s a lot of work involved, like in any regular job.

Sometimes the market simply doesn’t move. When this happens, traders will insist on trading. They end up overtrading and if they are on the wrong side of the market, the funds are gone. But, successful trading is not impossible.

Patience and discipline are key. Together with a proper trading education and the right partner (broker), traders can make it. The broker and the trader should have the same interests. Only when this is the case, traders have a fair representation in the financial market. Never deposit more than you can afford to lose. We wish you the best of luck on your trades!

** *NO links in your comment if you want it to be approved and published. All comments are manually moderated by our team, and all variations of an email addresslink will be removed and the poster will be banned. Only genuine feedback on broker experience is allowed. Sorry!! But the spammers are relentless.

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Trying to Know How to Avoid Getting Scammed? Binary Options Mastery Scams, Pro Trader Reveals The Shocking Truth About Binary Options Industry! Min. Deposit Min. Investment Rating.

It’s been several years since binary options trading and binary options robots became an Internet fad and for a moment, everyone was interested in getting into the venture. It was seen as the new avenue of making it big in the world of financial trading. The opportunities were countless, the possibilities infinite with multiple binary options brokers and automated trading systems. For all of 15 minutes, Wall Street and basically any other business venture was under threat, people were making money from binary options and making no secret of it. Suddenly, everyone was looking into ways of getting into the venture, with high hopes of getting rid of the embarrassing middle class tag and maybe, just maybe, hit the ‘big one’.

However, recent occurrences (massive complaints, reports of fraudulent activities etc etc) have changed the collective perception of the populace towards a venture they considered The Common Man’s Wall Street. I mean, all you needed to get into binary options was an Internet connection and a deposit of (mostly) $250, nothing more. There is basically little to no paperwork involved and certainly no waiting periods, except when withdrawing using wire transfer, unlike in stock trading where the legal and capital requirements are a bit overwhelming.

Don’t get Scammed! Continue to trusted Binary Option Robot site by clicking on the button below! Where everyone thought opportunities were endless, they found a sickening number of scams and cons skilled in the art of deception and thereafter, disappearance.

Of course, in every aspect of human existence, it has always been survival for the fittest, as good ol’ Darwin put it. There are always some people who use their brains, or in most cases, lack thereof, to take advantage of others. Financial trading is no different and conmen exist even in the inner sanctums of Wall Street. Unfortunately, in binary options, the scams are more than the real ones, making it hard to differentiate between the two.

For most people, that is. The reason for this is that human beings, have always been, are, and will always be greedy, especially where money andor wealth is concerned. The tricksters know that very well and craft strategies to capitalize on people’s greed for money and are almost always successful. That warrants debate on whether binary options is really profitable or a game of luck, and false hopes just like gambling. Is Binary Options a Viable Investment Option? Many people who are involved in binary options trading will tell you that the reason they chose to get involved in the first place was that, compared to gambling, binary options looked more legit and viable in the long run.

And that is true to a large extent. But the question of profitability has never really been addressed. As it stands, if you visit any binary options online community, you will be shocked by the large number of complaints (most of which are laced with profanities) from traders who lost money in unclear circumstances. These are often against certain brokers and auto traders, some of which have closed down after overwhelming online outrage. That aside, binary options is a viable investment option, just like stock trading is. If you look hard enough, you will find quite a number of traders who have achieved great success in trading binary options, a good example being our team here.

However, unlike stock trading, and pretty much like gambling, it takes good strategy, consistency and patience to succeed in binary options. And not only that, choosing the right broker andor auto trader, if auto trading is your thing, has a lot of bearing on your success, or lack thereof. Be careful for the scams. Causes of Losses in Binary Options.

Now, to the issue of traders losing their money, brokers are always the first people to receive the blame, and in more times than not, they are the guilty party. Nonetheless, while we admit that the presence of scams in the market is to blame for most of the (suspicious) losses made by traders, it is imperative to note that there could be a bunch of other things that could lead to one losing their investment. These include Lack of experience – Quite frankly, most of the complaints we’ve seen are from new traders.

These traders don’t know much about financial markets and probably got into binary options because they readheard that the profits are huge. When getting into the trade, most people don’t care about doing comprehensive background research on the best brokers and trading strategies to use to ensure not only one-off success, but consistent results. Such traders are so blinded by the huge amounts of money they hope to make, or were ‘guaranteed’ by some deceptive broker that they can’t see anything else.

One of them being the need for dire preparation and knowledge about how financial markets behave and why they do so. In addition to that, money management skills are very crucial to ensure the investment per trade is proportional to the possible losses and expected profits. You don’t want to put in $150 on a trade with a 65% payout while the risk of losing the whole amount is higher. Also, lack of experience affects how effectively one uses the (usually) provided analysis tools like technical graphs, indicators and charts to know which option(s) to buy. Thus, before pointing fingers at the broker or your auto trader for your losses, first ask yourself if your lack of experience is to blame.

And five out of ten times, it is to blame. Poor money management – This is directly connected to the above paragraph but not really the same thing. See, you could be an expert analyst in financial matters and even succeeded as a trader in other instruments but still fail to replicate the same when it comes to binary options.

In this case, there is a high chance that your money management skills are poor, which translates to poor money making potential. Binary options, just like gambling, requires a clear and focused mind that can make decisions that are free from emotional responses. For most traders, this is extremely difficult to achieve and they find themselves to have invested a lot in a trade that promised extra high payouts only for it to end up out of the money. Similarly, you may invest a very low amount in a trade that had low payouts that had an In The Money (ITM) finish.

Say you placed the two trades together the profit you realize from the second trade won’t be enough to make up for the loss you made in the first. Eventually, if the same trend continues, your trading account will contract to levels dangerously close to sub zero, and you might as well be applying for bankruptcy. And of course you will point fingers at your broker, like everyone does.

As a matter of fact, a good trader uses the first deposit (in addition to the bonus) to make money for all his future trades, plus withdrawals. If the only thing you’re doing is making deposits and not withdrawals, we suggest you audit your trading strategies before thinking of blaming, or changing, your broker. Greed – Admittedly, brokers take part of the blame for this, for “adding wood to the fire” so to speak.

See, human beings have an inborn greed for wealth and success that has puzzled scientists up to this day. This greed usually overwhelms logic and common sense which makes it easy for con men to easily get their daily bread, and wine, and pizza. All they have to do is bait their prey by using statements like ‘Sign Up Today to earn $50k per week’ and they are sure to catch some fish.

We are not trying to defend the actions of the numerous predators waddling in the binary options pool but rather encouraging you to use your common sense just a little bit more and you’ll never find yourself a victim. Now that we have established the secondary causes of loss in binary options, it is time to focus on the main culprits – scam sites. These are in both the brokerage and auto trading sector and are pretty advanced in their scheming. As it were, the number of legit brokers can be counted with the fingers in both hands and still leave room to give a stunning middle finger salute to the scams.

To better understand the intricacies of these scams, it is important to first understand how they work. Don’t get fooled. The Anatomy of a Scam.

A lot of people have written to us asking for clues on how to recognize a scam. For us, it is very easy to recognize a scam just by the presentation of their website but unfortunately it is not that easy for majority of the traders. Nonetheless, we will share some of the giveaways that tell you if the site you’re dealing with is a scam. Now, most binary options brokers will advertise themselves as offering low risks, high returns (some even quote unbelievable figures) and most importantly, that you can’t lose more than you should.

To an extent, all that is true. The degree to which it is true is very much dependent on the particular broker you are using. The thing with scam artists is, they aren’t the best creatives we have in the world and all of them read from the same script, with just a few tweaks on the words and figures. This is why it is very unfortunate, to the point of being embarrassing, that there is always a bunch of people falling victim every single time.

That binary options remains, for the most part an unregulated venture does not make it any better. If governments all over the world were serious about resolving the issue of their citizens losing money to online fraud, you can be sure there would be no scams. Or at least the number would be minimal. Nonetheless, traders need to have a deep understanding of the financial world in general and binary options as a financial instrument in particular to completely avoid unnecessary losses.

If anything else fails, proper education and use of logic always work. Knowing scams exists helps to avoid those. How to Recognize a Scam.

Talking about being informed, below are the things that tell you that a particular site is a scam, and will drain your account faster than you can figure out their name If you look closely at the reviews we have compiled over the years, you will note that we always had an issue with the so called site owners having ambiguous, and often fake identities. Some will give stupid names like Allan Trader or Binary Byron in an attempt to hide their real names and effectively eliminate the chances of getting sued. As it stands, most cons who set up fraudulent sites get away with it since tracking them is really hard.

For one, you can’t report a nameless person from an undisclosed country. Two, very few countries have laws in place to control online trading which complicates things. Most importantly, many traders don’t know what to do, or where to go when they lose their money in unclear circumstances. Again, the need to have proper education and knowledge on both the economic and legal landscape is very apparent here.

Anyways, dealing with a regulated broker will make things a bit easier. Oh, and if the owner’s name sounds funny andor too unique, run. Just run.

This is pretty obvious, if the broker or auto trader you are thinking of signing up for is not on Facebook or any social platform, do you still need to be told that they’re up to no good? All decent brands are interested in interacting with their customers on social media and if a particular broker is not, it is probably a scam. Bottom line, if they aren’t on Facebook or Twitter, they aren’t for real.

End of. The wise men weren’t fronting when they said if it sounds too good to be true, best believe that it’s too good to be true. In this case, if the promises that a certain site makes sounds too good, better think twice before clicking on the Sign Up button. Anything along the lines of �% ITM software giving you $1000 per day” falls perfectly within the too good to be true category. In fact, anyone who gives you a definite figure of how much to expect is too good to be true.

In binary options, there are no guarantees, the underlying situations keep changing and a stock that is performing very well today may take a downward spiral in the next two days, due to one reason or another. As such, it is very difficult to predict future earnings and anyone who tries to convince you otherwise is only baiting you. And you will be left crying after they take off with your money. This one doesn’t need further explanation.

When you land at a broker’s site, the first thing you should do is check the bottom of the page for a license. Every licensed broker will display their license number and state the body that licensed them. The Cyprus Securities Exchange Commission, better known as CySEC, is the most credible regulator when it comes to binary options. Any serious broker should have a CySEC license and those who don’t are most likely scams. Never sign up with a broker without a CySEC license no matter how good they look at the surface.

This is a condition that you shouldn’t compromise on. When it comes to auto traders, there are no regulatory authority involved in giving licenses yet. However, the auto trader does have to be regulated since technically, you don’t put up money with the trading system but with the broker. Thus, when looking for an auto trader, be sure to check if the listed brokers are regulated. Generally, an auto trader affiliated with renown and regulated brokers is more likely to be legit than one affiliated with unknown sites.

We always recommend checking with us before making a decision on which broker to sign up with. This is because it might not be easy for you to read between the lines and tell if what is said in the site is true or not. How Does The Scam Work?

The rise of the binary market has attracted many con artists to the foray, and they start even before you open your account. In order to understand whether the brokerage site you are visiting is genuine or a fake, you must have some basic knowledge about how these scams work? The following text will try to answer this question. They disguise you with a fake website which looks like a legit binary option broker They promise exorbitant success ration on their signal services, some even goes on to guarantee it. They use the web for fake reviews and testimonials under multiple names to trap you. As soon as you join such scams, you lose your initial deposit amount.

Once your deposit has been lost, you get a call from so called senior broker asking you to deposit further funds. These are the general steps followed by the binary broking scams. It is advisable, if you see any of the above signs, just stay away from them. Types of Binary Options Scams.

The unparalleled rise in the binary options trading has attracted several new traders in the market. Unaware about how things work in the binary arena they come with very high expectations from the binary trading. Such newbies fall prey to the sharks of the binary arena or so called scam artists. They advertise themselves with some unheard payouts and consistent revenue stream to lure the investors. Once, these newbies have enrolled themselves then only they realize that they have been conned.

The regulators in the several parts of the world are aware of this nuisance and have identified three types of fraudsters in the financial markets. The following text enlists them in detail. Brokers Who Block Withdrawals. This is the first type of scam artists.

Once you enroll with such brokers and make a deposit, and try to request a withdrawal, you just can’t. sometimes, such brokers go even step further and calls you up to deposit further funds to initiate the withdrawals by making some nonsense argument of how beneficial it is to deposit further funds to your account. Then, the nimble trader request for withdrawal which is now repeatedly denied, your phone calls go unanswered, and your e-mails to the customer support start bouncing. All your attempts to get your own money goes in vain with some point in terms and conditions or having no one in the organization to listen to your requests. Then only you realize that you have been conned, while, the realization would not have cost a million but surely few hundred dollars.

Such scam artist advertises being one of the best in the business and offers unrealistic gains by trading with them. So, how to avoid such con artists? Read on Do comprehensive research about the brokerage house even before thinking about depositing funds. Search the internet for the available online reviews about the brokerage house, specifically, on the third party websites and social forums. The customer often reports such con artists on various forums so that other don’t get trapped.

Thoroughly read terms and conditions on the website along with the FAQ relating to the deposits and withdrawals. You must be aware of any restrictions in terms of a minimum deposit and a minimum withdrawal. When you are starting with a new broker to start your binary trading journey, only make a deposit of minimum amount as indicated in their terms and conditions.

After depositing funds, try a test withdrawal in accordance with their terms and conditions before building up the account and adding further funds in the account. If you receive a phone call from the broker to add funds to your existing account in order to make it big then the first thing you should do is try and withdraw the existing amount from the account and start searching for a genuine broker. Scam Brokers. Scam Artists Who Steal Identity. Such scam artists go even a step further, they not only try to steal your money, they also steal your identity to take more money from you.

The requirements of Anti-Money Laundering and Know Your Customer guidelines are followed by all the brokers, which requires them to ask you about your proof of identity, address and sometimes, a copy of your credit card, and hence it is a challenge to avoid. You may have provided your credit card details while making the payment or provided your identity proof to initiate a withdrawal or provided a copy of your credit card (back and front) or you may be asked to provide Social Security Number. You may be asked to provide faxes of such proofs, we recommend not to comply such requests. If you have even a slightest of a doubt about the brokerage house, just avoid or avoid using your credit card to make the deposits instead you can use other modes of electronic payments like e-wallets, which secures your identity.

We are not saying that every broker in the binary arena is a scam artist who asks for credit card details, but it is always better to be safe than sorry. Specifically, you should be aware of the brokers who does not require your identity proof while enrolling but demand proofs before initiating withdrawal requests. Some pointers to avoid such scam artists As always, make a thorough research about the company even before thinking about depositing funds. The internet is a great source of information, and there are websites and forums which provide independent advice on several brokers, read each of the available reviews about the website before initiating the registration process. Read the terms and conditions, and FAQ on the respective broker’s website to gain a complete knowledge about the withdrawal process and its requirements.

If you still have a doubt, make a call to the customer service department of the broker to verify that they will not compromise your identity and will not ask you to comply later on. PS In a circumstance where you need to provide a copy of your credit card, then you must black out the middle eight digits on the front of the card, and CVV number on the back of the card to be safe. Trade Manipulating Brokers. This is the most sophisticated than the other two but could cost a fortune over a period of time. Such brokers manipulate the software to generate losses to the traders. The most common technique used is the trade expires after it was set to, and suddenly, your trade jumps from in-the-money to out of the money.

You make a call to their customer service which ultimately denies giving reference to the terms and conditions of the site about technical glitches. The repeated occurrence of such episode is a big warning signal for the traders, and one must exit entire funds from such websites. There are other aspects in the binary arena which is managed by such scam artists.

For instance, sudden changes in payouts for no obvious reasons, and a price fluctuation of an underlying asset without a convincing reasoning. However, you must remember that the most common reason for losing a trade is because you did something wrong, and not your broker. In other words, do not impose your own mistake onto the broker and label them scam artists. Avoiding this scam Once more, research, research, and more research! Always, make an effort to learn more about the brokerage house through various independent websites, customer forums, and social media to gain a complete knowledge.

We are reiterating again that you must research thoroughly about any brokerage site before even thinking about depositing funds. To identify such brokers, you must keep your eyes wide open while trading and lookout for any sign of suspicious price jump and suspicious expiry moves. If it is a once in a blue moon kind of an event then it is okay, though less likely, but if it repeats more than once, just beware. If anything looks suspicious then you must try and withdraw all your funds and start researching for another broker. You must remember that the binary options trading is not a scam by itself – it is just an another way of trading financial instruments.

However, there are some con artists at play who tries to take the advantage of novice traders and steal their money. Just to be aware of such con artists, you must research well before making any commitments to the brokerage website. Avoid These Things in The Binary Options Trading.

We have already discussed how the scam artist works, and what are types of the scam artists who are at play in the binary trading arena. Now, we will discuss some of the most common mistakes traders make and fall prey to the con artists. By avoiding these mistakes, you can keep these con artists at arm’s length. Registering with the new brokers The binary options trading has been around for quite some time and there are some brokers who have proven track record. So, it does not make sense to get register to the new brokers unless and until you are absolutely sure about it. Not knowing T&C of bonuses Bonuses are a great way to increase your initial balance, but they come with certain terms and conditions.

These conditions restrict the withdrawal until you meet their requirements, and hence, you must read the terms and conditions along with the FAQ about the bonuses on their website. Managed Accounts You should never, and I repeat never, allow any third party including the account manager from the brokerage house, to trade on your behalf. The offering of the managed accounts is a one-way to lure the investors in their scheme of things. Don’t gamble, strategize The binary trading is not a gambling but it can become one if you treat as a random investment.

There are several strategies available to invest for the long or short term. Not using such strategies will definitely make you lose. Don’t’ bet your account As a beginner, you must not risk a large amount on a single trade. The binary trading is a long-term association and not a get rich quick scheme. So trade wisely.

Despite everything you might have heardread, binary options is as legit as the constitution itself. As long as you know how to separate the legit brokersauto traders from the scams, you will achieve your goals. Above all, do plenty of research and asking around.

It actually works. That said, we would like to deflect your attention from the scams that we’ve been talking about all through to the few legit sites that exist amid the spoilt fish. As far as brokers go, IqOptions and Banc de Binary are arguably the 2 most accomplished and legit brokers in the world. If you search for The Best Binary Options Brokers in the World and you don’t see any, or both of them in the search results, you can be sure that the results are fake.

Banc de Binary, for instance, was established in 2010 and has survived every tide to make it to 2016. On auto traders, there are quite a number of legit systems around but we generally recommend Binary Options Robot which has both high accuracy and payouts. Most importantly, all the brokers linked to the robot are regulated by CySEC, which is our standard requirement. Good luck finding the right brokerauto trader for you.

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