Novice binary options traders are often concerned about the question: “Are binary options a scam or not?”. This question is asked by everyone, after negative transactions or before the start of trading. After all, swiping your credit card and transferring money to the account of a company that you do not know is not easy. In this article, we will figure out whether binary options are a SCAM?
Who makes money on binary options
Trading in financial markets has become the most popular type of earnings on the Internet. This attracted not only large financial brokers and traders, but also many scammers. The system of making money on binary options is quite simple. Traders make deals with each other. Since trades are made through a broker, the binary options broker earns its commission. Percentage of the transaction. Therefore, there are no 100% payouts on the option. There are two main ways for scammers to make money:
- The first is the opening of the site in order to receive a deposit. Quotes and the platform are not relevant to trading. After depositing, the binary scam broker simply does not answer phones and mail. This type of fraud cannot last long. “Broker” closes and opens under a new name.
- The second type of fraud is that all transactions remain within the company. This type of “DIVORCE” is that traders are helped to lose their money. This can be both from a technical point of view and the advice of pseudo-consultants.
How does a trader make money trading binary options?
Binary options traders make money by buying and selling financial assets. If you trade with an honest broker, we can get good results. To understand how to trade binary options, our articles for traders will help you. Is it easy to make money on binary options? A lot of advertising on the Internet shows how someone earned $ 1000 in just 15 minutes or bought himself a new sports car. All advertising is positioned with ease of bidding. However, trading options without initial knowledge is a 100% loss of money. At a minimum, you need to know the basics of technical or fundamental analysis. Risk management or decide on a plan. The moment you know all these basics, then and only then can you start making money with binary options.
How to recognize scammers?
How to choose an honest broker? When starting a trade, a trader must be sure that his result depends only on him. Therefore, the most basic thing is to choose a binary options broker. To identify fraudsters, you must follow the following rules: Check the broker’s license Find and read as many binary options reviews as possible The search for information should not be only in Russian language. Using the phrase “scam broker” you will find a mention of the broker in English
Find out what the broker’s regulation gives you?
Regulation of Binary Options Brokers
What promises not to believe
- Your manager will tell you how and where to open a deal. Broker managers cannot advise you on which trade to open, as the broker cannot be responsible for the results of your trades.
- You will receive a personal manager who will train you after the minimum deposit. That’s not true. You will be given a “lesson” for 15 minutes, after which they will start saying that you have too small an amount. If you do not replenish the deposit, they will not work with you. Since even the time of a specialist costs more than your minimum deposit.
- We earn when you earn. That’s not true. The broker earns a commission from the transaction. Therefore, the broker will work in any case.
- The promise of stable profits. It’s just not possible. Even the strongest financial sharks lose money. There are risks and they are high in binary options.
- Promise to withdraw your money within 24 hours. Most often it takes 3 days, and only after providing all the documents. Making a withdrawal request takes almost 2 days from the broker. If you are promised and told all these points, check again, because there is a high probability that these are scammers.
Should I use a personal account manager?
What to do if you have been deceived?
If you have opened an account with a fraudulent broker, immediately try to withdraw money. If you do not withdraw money, read the article: What to do if a binary options broker does not withdraw your money?
