Is binary options a scam?
After reading this article to the end, you will find the answer to the questions: Is binary options trading a scam and deception? Who earns when a trader loses money? Why are there so many brokers and how to identify fraud?
Having studied this information, you will be able to do everything so that the result of your trades depends only on you, on your professionalism, trading strategy and your discipline.
Types of cheating in binary options trading
In order not to let yourself be deceived, you need to answer the question: “What is deception in binary trading?”. We are often approached by traders who were advised to open a deal, but it did not bring results. Is this a hoax, or the trader turned out to be so naïve that he opened a deal on the advice of a “super master”, and in addition wants to get guarantees for the result.
The answer is simple, it’s not a hoax. Novice traders are trying to make money for free. Get FREE advice from a broker who, by definition, cannot advise, and is not responsible for losses.
Let’s define the types of deception and fraud:
Let’s define the types of deception and fraud:
Technical fraud
- The quotes of the broker’s charts do not correspond to the buy/sell price of the asset
- In high-speed options (up to 3 minutes), there is a delay in opening a position
- Discrepancy between the time of aspiration
- The platform freezes during the closing of the position, the trade is not triggered
- Sharp jumps in price, due to technical problems of the broker
Fraudulent behavior of the broker
- Opening trades instead of a trader on his account, without permission and without the knowledge of the trader
- Additional money withdrawn from the trader’s account
- Crediting the bonus, without the permission of the trader
- Bonus calculations from a real account
- Using trader’s data to open accounts with other companies
- The broker does not withdraw the trader’s money
- The broker asks to deposit more money in order to withdraw the trader’s money
Fraudulent manipulation of brokers and managers
- Pressure on the trader in order to increase the deposit
- Pressure on the trader to increase the activity of the trader, without knowledge
- False information about the terms of the bonus
- False signals and forecasts
- The manager opens trades instead of the trader
- Not providing support
- False promises of training, and support that are not fulfilled after replenishment of the account
- Direct extortion of money from a trader
Binary options gurus or how to steal your money
The above points are the main methods of fraud in binary options. However, there are still equally important schemes due to which traders lose their money.
This is the “Financial Trading Guru”. Such projects as described on our website, with full reviews of their schemes in the scammers section.
They simply persuade the teridra to make a deposit with the broker, providing him with false information. Fake signal machines and training.
Such scam sites promise to make money to the trader, absolutely free. showing expensive cars, apartments…
Many beginners do not understand that this is just
a scam
that makes money on their naivety.
Summing up, we can identify 3 main types of scams in binary trading
- Brokers who block withdrawals
- Brokers who manipulate traders
- Identity theft
How to prevent fraud and avoid falling into a trap
The most basic thing is the understanding that you need to trade only with trusted brokers. Experience shows that a broker’s license is not a guarantee of its honesty. It’s better to read 1000 reviews and understand who you’re dealing with, rather than rushing at everyone who shows you a license. Moreover, the bulk of traders will not be able to distinguish and check if it is milked.
- Rating of honest binary options brokers which is updated every month, based on a survey of traders and reviews
Unless you’ve read a few books on binary trading, taken notes, or dedicated time to binary trading, it’s just a casino for you
- You need to start trading with a new broker with a minimum deposit. Try to withdraw money and try to determine the level and quality of support. As a manager treats you with $250, so he will treat you with an amount of $10,000
- It is important to remember that brokers do not have the right to advise you. They can’t manage your accounts. Therefore, transactions should be opened only relying on your decision. Which is based on a strategy or system, or simply on your intuition… After all, if you opened a deal on the advice of someone, this is also your decision and there is no one to blame.
- Avoid promises of super earnings. Binary options trading is a risk. Therefore, no one can guarantee you 100% profit.
This applies to all binary options scammers in our section: BINARY OPTIONS SCAMMERS
Is binary options a hoax or not?
Of course not. Many traders around the world earn thousands of dollars every month. This is only possible when you dedicate yourself to trading completely.
It is impossible to become an engineer in a week, just as it is impossible to become a trader after reading one book of 30 pages.
Intraday trading is a whole world with endless information and constant dynamics.
To start earning, a trader must understand what trading is and how to make the right decisions.
If you have worked all your life as a doctor, at a construction site, as a teacher, you need to learn to start making a profit from binary trading, otherwise you will lose money and blame everyone. Although, in fact, only you are guilty.
Trade only with trusted brokers!
