Do you think that all binary options brokers are the same? What about trading trading systems? If that is how you feel, you are in for a rude awakening. 90% of what you will encounter in the this industry is classified as binary options scams. Many inexperienced and uninformed traders often fall victim to scam sites. They are set up with one main goal. That goal is to separate you from as much of your money as possible. They accomplish this by using unethical advertising tactics. They promise that their system or service will make the user a lot of money. This blog is dedicated to exposing all forms of scams in this industry. Additionally, we will point out legitimate services that are proven and tested to be safe for use. First let’s have a look at what binary options are.
What is Binary Option and Binary Options Scams?
A binary options is a type of financial instrument where the payout is a fixed monetary value. No value if the trade is lost. Simply put, it is a bet where you either win or lose. Winner takes all. It is worth noting that this industry has been exploited by unethical and fraudulent operations. This is mainly in the form of unregulated scam brokers. The scam occurs when the broker intentionally manipulate the price data on their server to cause the trader to loose. Additionally, it is a common practice for scam brokers to refuse or delay withdrawals. Once you have funded your account, you are at the mercy of the broker. Navigating this industry is similar to walking through a minefield. So, where do you start?
Binary Options Scams: How to Avoid Them.
The best defense against becoming a victim of a scam is by educating yourself about the market. New traders as well as those with experienced should always use a Demo Account. A demo account is a trading account where a trader can implement trades without using real money. Experienced traders use demo accounts when practicing or creating new strategies. Before signing up with any broker, always do your due diligence. This assures that the broker is regulated and legitimate. Most reputable blogs will have a list of recommended and trusted brokers. Our recommendation with any broker is to not take the signup bonus that they offer. Because of attached stipulations, taking a bonus will make it nearly impossible to withdraw your winnings.
There are many binary options scams associated with investment trading. However, this market can be very lucrative and exciting to the educated trader. Do not be discouraged by the many scam sites that you may encounter whiten this industry. We are here to help you navigate this treacherous field of binary options. Please help us to expose as many scams as possible. Please post the experiences you have had with binary scams by commenting in the box below.