Trading via binary options is one fast emerging trend among youngsters, who are in constant search of options that’ll double their money in no time. What they don’t understand is the fact that there is no such business model through which they can multiply their money instantly and that too without any efforts. This constant greed for money and lack of knowledge is the sole reason why people, especially youngsters are falling in trap of smartly designed scams. Binary options scam is one such example that has engulfed life savings of many people around the world but that doesn’t mean that it is a fake business model, no not at all, in fact like any other investment plan it is also very much reliable. The only problem here is the lack of research and knowledge on the part of the investor that allows others to fool him.
The crux here is that one can earn money through Binary Options without falling in any trap, given the fact that he is thorough with the concepts of this business and of the assets he is dealing with. At many occasions people are seen browsing the net and taking advice from their friends or financial advisors on do’s and don’ts of binary options and what they get in return is half or sometimes false information.
Here, we are at your rescue telling you how this entire scam takes place and how you can prevent yourself from such traps –
First, How Binary Scam Works?
- A fake website is developed and constantly updated by a fraud company.
- Next this company creates a trading signal software with 100% trusted reviews and accuracy. Moreover they also guarantee 100% result.
- Through fake testimonials they further advertise their trading signal software.
- Usually the signing amount on these websites is $250 that you lose the very moment you deposit.
- Next, the investor gets a call from this fake trading company that further asks him to invest more money, which they promise to invest wisely and informing you about the profit update win soon.
Second, how you can prevent yourself from such realistic looking fake binary traders?
- The very first thing you should do is proper and rigorous search of the selected binary option broker.
- Assure that the broker has a license from a recognized government regulator like CFTC, FCA etc.
- Never go for testimonials and robot (that ask you to make a prompt deposit).
- Always avoid trading signals that do not fit in your trading strategy.
- Your past performance do not mirror your future wins.
For More Info:- binary options scams