6 Ways Binary Options Scam Can Cost You Money and How to Avoid It

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With so many binary options scams out there this is a legitimate question. Even though the binary options market is currently littered with scams there are legitimate binary options trading sites. Binary options themselves are simply simply a type of trade. Since it is merely a type of trade, a binary option itself is not a scam. There are legitimate binary trading brokers. There are also scammy ones. Anytime something becomes as trendy as binary options trading, there are going to be dishonest are binary options scams binary options broker scams explained who try to profit from it.

Not everyone who trades binary options is a responsible trader. First you need to learn to separate brokers from trading systems in your mind.

A broker is a company through which you can trade on a binary options website. Brokers can be honest companies or they can be scammers who are trying to take your money. In other markets, there is more regulation.

Not too many binary options brokers are regulated yet, and that includes the honest brokers. So you have to go largely based on reputation, reviews, and ratings.

There are other brokers we know you should keep the heck away from see thisbut a lot of brokers fall somewhere in the middle—no one knows enough about them yet to draw a decisive conclusion.

Risk already plays a prominent enough role in binary options trading. Trading systems that promise unreasonable things are pretty easy to identify are binary options scams binary options broker scams explained to stay away are binary options scams binary options broker scams explained. There are other reasons you should choose carefully however as well. All brokers have slightly different offerings, so you want to choose a broker whose product fits your needs. Here are some questions and considerations to take into account before you put money into a binary options account.

What types of binary options trades can you make on the site? What expiry times are available? Does the broker offer Option Builder, which lets you choose your own expiry period? Can you rollover or double up? How many trading instruments are available? Many brokers do not allow US traders to trade currencies or futures.

What is the minimum and maximum trade amount? Is it flexible enough for you given your bankroll? Can you use effective and conservative money management rules under the restrictions imposed? Is there an upper limit to total trade exposure or just a maximum amount per trade?

What are the deposit methods and currencies? What is the minimum deposit? How can are binary options scams binary options broker scams explained withdraw your money and how quickly can you get it? Is there a minimum withdrawal amount? Are there fees for withdrawing or for anything else? If so, what type and how much? Do they work based on a leverage system where you have to turn over the money a certain number of times to claim it?

Or is it a straight up cash bonus uncommon? Is a demo account available? This feature arguably falls under trust, since a demo account demonstrates that the broker is looking for long-term clients. If there is are binary options scams binary options broker scams explained way to demo, the broker has not provided you with an essential learning tool. If you do find a broker who offers one, that is a huge plus. Does the broker have positive reputations on the legit review siteslisting portals, community forums and trading sites?

This is the biggest factor to consider and the one that the editors of binaryoptionsbrokers. Regulation does not mean reputation! Is the broker are binary options scams binary options broker scams explained Do you have to search everywhere for basic information, or is it relatively easy to find answers to most of your questions?

Is the information you find consistent, or does it contradict itself? How established does the company appear to be? Does the site provide you with basic warnings and risk disclaimers? Or does it just seem designed to persuade you to part immediately with your money?

Does the site include helpful things like economic calendars, expert analysis and news, e-Books, seminars, consultation services, articles and videos? If so, how informative are they? Do they cover the bare minimum of how-to topics, or do they delve into technical and fundamental analysis and teach you techniques for trading? In other words, does the broker want you to learn and become a long term, successful customer?

Or does the broker want throwaway customers who will go broke trading in their first week? Are the extra features available to you no matter how much you invest, or are they only available for customers with larger trading accounts? Are they actually available when they say they are through the channels they promise you can reach them on? If you get a hold of them via phone or chat, are they polite, friendly, and helpful? Are they knowledgeable and patient?

Do they try and hard sell you? If you send an email, how long does it take them to respond? Do they respond in the timeframe they say they will? Finally, be sure to check other customer reviews. Have they won any awards? Do customers have specific complaints about them? If so, are they complaints about things which you think will affect you or not?

Why does binary options trading seem scammier than most types of trading? Scammy brokers are more challenging to identify. Broker Features What types of binary options trades can you make on the site? Is the Broker Trustworthy? Is the binary options trading site navigable and informative? Are there educational resources and trading tools provided? How is the customer service?

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Binary Options Trading has become one of the most popular investment businesses these days. People like to earn easy money sitting at home without putting much effort into it and moreover, who would want to sit in front of their computer screen and want to trade for hours?

The answer to this problem is the automated binary options trading software with which you can make the computer do your trade. This software are also known as robots or auto traders and they can lessen all the problems that you could face when you trade manually. This also allows common people like you and me to trade without any hardcore knowledge of advanced financial and economic strategies and make money. These days the number of automated binary options trading software have increased by leaps and bounds and the authenticity of this software are quite questionable.

This is because most auto traders are not licensed and this opens up the opportunity for fraudsters to develop their own fake software and sell it to common people and trap them and steal their money.

But now it has become quite easy for them to make fraudulent sites, and as people were not able to differentiate between the fraudulent and legitimate sites this led them to suffer heavy losses. So today, in this article I will tell you how you can identify a fraudulent or Scam system.

But before we go into that let me tell you what Binary Options Trading is. Binary Options Trading is a financial trading in which the payoff is a fixed amount or nothing at all. Generally, traders trade through regulated platforms that provide with licensed brokers but day traders and amateur traders can also trade using the automated trading robots or software.

But before trading through these software one must know what kind of product they are dealing with so as to make sure they are tricked. So, let me help you to learn how you can identify a Scam software among the variety of trading systems available online. Here I have listed the various ways with which you can identify a Scam System. Option Robot is one such genuine sites which have regulated brokers and they clearly give details about the broker sites with which they will link you up as soon as you make an account.

Just have a look below. For example, the person shown above is a very well known the fiverr actor who is regularly hired by scammers to provide testimonials or as a spokesperson of scam systems. Check the picture below. As we know that the scams will never end, so that is why it is important to stay alerted from this bogus systems whenever you would come across. Here are some of the Binary Options Scam brokers Lists that one must avoid.

So these are some of the details that you can notice to identify a scam software. Be very careful while noticing these details as some of these are not easily noticeable. Try to avoid any kind of suspicious system if you have a little bit of doubt. The best thing is to check up reviews about these suspicious systems and investigate the matter so as to save yourself from scammers and to avoid any kind of online theft.

What is Binary Options Trading Platform? How to Identify Scam System: These are the financial regulatory agency that provides a license to these trading platforms on the basis of the services provided by them. Generally, fraudulent sites are not licensed by these agencies, but sometimes they use fake logos to confuse people.

So be sure to check them out carefully. Sometimes they even offer the free trial, but this is nothing but a ploy to take away your money which you could have invested in some other legitimate source and earned loads of money with it. Sometimes they use a hired persons to share a testimonial or to be their spokesperson in the promotional videos.

They are actually not the owners of these scam sites, in fact, they are just actors who have been hired to provide you with false details. Checking the age of the website is another best option for catching these scam makers. You can just copy the domain address and paste it in the who. These websites are generally two or three months old and the information they provide on their sites is that they have been doing this for a year or so, basically, they are just lying about everything.

In the videos, you will come across the actors, who will tell you about a unique algorithm that they have created and with they have earned loads of money. But in reality, these are just bogus things made up by them to trick you. Watch the video carefully to notice that they will keep on bragging about this algorithm but they will never explain to you how the algorithm really works.

The algorithms that are used in the Options Trading platforms are unique and very different from each other. This is because the possibility to generate such huge amounts are not possible in binary options trading at least every day.

Another important thing that you can do is change your VPN and then check. When you try it normally without changing the VPN then you will notice that they might provide some bogus limited offer but as you change your VPN you will notice that the numbers in those limited offers have changed drastically. Sometimes they even have time limits that are about to get expired as you enter but when you just change your VPN the time resets.

Binary Options Scam Brokers List: