Binary Options Scammers

Binary Options trading is a fairly new phenomenon on the financial market and, like all new developments, it creates among general public both mistrust and genuine interest at the same time. This is just a curiosity, but you should be very careful and undertake in-depth research of the market before you satisfy this curiosity. “Scams in Binary Options” – this is not only another popular keyphrase for the virtual search engines, but also a sensitive issue in the real life.

What Are Binary Options?

Binary Options trading is pretty mush similar to the trading performed on the Forex market, but the process itself is hugely easier than the regular currency trading. Working under classic BO trading scheme, you play on the price movements, and if your stake is right, you get your profits. At the same time, it’s not just a usual “lottery” – there is a plethora of trading tools developed to help you forecast the right trend, and the majority of factors that may somehow affect your trading process are already known in advance. Such simplicity of BO trading triggered the emergence of a great number of the Binary Options trading scams, who stand ready for anything to play with unsuspecting newcomers and jockey out of them as much money as possible. Despite the fact that the Binary Options trading is becoming increasingly popular, the number of cheated people does not decrease. We can see dozens of unfair BO brokers that create special fraudulent schemes and conduct so-called “binary options for fools” on their platforms. As a consequence, such creators get really significant amounts of money, trustful customers lose their hard-earned money, reputation of the Binary Options market is marred and customers’ trust and loyalty are getting lower. So, before starting to work with Binary Options, you should properly study this market’s special aspects in order to be able to detect the Binary Options trading scams.

What ways they use to cheat with me on the Binary Options market? Scams in Binary Options

“Super-lucrative” and “winning” trading signals – that’s another classic fraudulent scheme on the Binary Options market. To attract the beginners’ attention, the Binary Options trading scams create many different web-sites where they loudly and steadfastly invite users to try their offers. Of course, BO frauds give 100% guarantee that all their clients will make a fortune using their strategy, and some of such scammers even try to prove it by demonstrating screenshots of huge earnings made under their strategies. As a rule, the majority of such evidences turn out to be usual fakes after even a small verification.

They can promise their trustful customers everything under the sun, but their main target never changes – they want to deceive you, get your money and forget about you. The bottom line is that trader must contact such scammer’s support service and claim returns of his money – but all these attempts are useless, because nobody forced this client to make a deal with this broker.

As a rule, such fraud resources hide behind names of some fictive persons. For example, a certain Mr. Vasiliy Zolotov offers you a super strategy or super signals. Of course, everything he offers is completely free-of-charge – that’s because he has already earned his millions and now his infinite goodness tickles him up to share his unique knowledge with other people. He is just a philanthropist who wants everyone else to get rich as he did, so he asks nothing in return.

When you start paying interest to the Binary Options markets, it suddenly turns out that the developer and creator requires no money for its “unique” trading signals – you only have to pay a broker. It’s just something like “an initial payment to make a deposit” which is required for you to open your trading account. But how can you test these magic strategies? One could say that all these strategies could be tested on any existing account created with any BO broker you trust, or you can even use a demo-account to protect yourself against loses in the event these super signals or strategies are useless. Furthermore, there are many examples when scammers invite traders to join brokers they already have accounts with. It may seem pretty comfortable, because there’s no need to create another account and spend money for deposits, but it’s not that simple – such users are denied these “magic” methods.

Why BO scammers work hard to attract new customers for certain brokers? Because this is exactly the way fraud schemes work: a scammer gets money from a certain broker for each customer it attracts – this is so-called referral program. A customer credits his deposit (usually USD 250 to 500) and tries to trade under these signals supplied by a scammer. But it’s not beneficial for a broker when its customers close successful transaction, because it gets profits only when they make loss-making ones. Therefore, signals are most likely dummy and traders lose their deposits. It’s beyond argument that this fraudulent scheme brings profits to all but a trader. Sometimes, such unfair brokers may create their personal “professional traders” (no need to pay fees to someone else) to attract new clients through a third party. This type of a trick is nothing but an unfair marketing ploy that may easily catch ordinary people. Give careful consideration to the blacklist of Binary Options brokers before working on the financial market.

How do I know I am dealing with Binary Options trading scams?

  • They not only promise you a guaranteed income, but announce the exact amounts of money you’ll get and declare the timeframes during which you can earn them.
  • Don’t believe scammers, who offer to use their magic strategies, trading robots that constantly generate extremely huge profits or even money-making trust management services.
  • If any company requests more than USD 200 deposit – it is most likely a scammer that tries to pump money out of your pocket.
  • Don’t trust companies that offer a large number of various bonuses and compaings – this is a trait of all unfair BO brokers.
  • Don’t put your faith to the fact that it is possible to earn money without any knowledge or experience on the Binary Options market. Like any other business, Binary Options require a certain level of knowledge and skills. Well, to avoid any BO cheaters, try to pay close attention to the Binary Options scams list – it can be easily found in the Web.

IMPORTANT! IAFT’s web-site contains the blacklist of Binary Options brokers, most of which are scams, cheaters, frauds or just haven’t been verified and tested by the Association, and therefore are not recommended for cooperation. Check the profile of a certain brokerage company to know more about the reasons it was included in the black list. To secure your money and start getting real earnings by trading on Forex, we recommend you to cooperate with the most reliable companies from Forex brokers rating, which have proven to be the reliable IAFT’s partners that always fulfill their obligations under the partnership agreement. Make yourself and your business secured – don’t trust your money to any questionable partners!

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