If you are one of those who have been badly ripped off by binary options scams, then you are not alone. There are thousands like you who have been seriously scammed by these situations and the worst thing is that you can’t do anything. This is why you should start thinking twice if you want to trade binary options in the first place.
How do you find out that a binary options scam is going on?
1) Deceptive brokers
The most common among many, brokers deceive and at the same time successfully support an ICO as part of quick manufacturing due to the limited rules and regulations put in place for them as a result of the leniency of financial authorities. recently it has been a significant exaggeration during the last two years. By copying someone else’s whitepaper and working very hard at multi-level marketing through social media impersonations and real celebrity reviews, ICOs are the scam to buy in today’s financial world. Important people end up signing up for these ICOs for this particular broker and pretty soon you lose all the money.
In case it is analyzed properly, there are particular signs that tell you about a fake broker such as there is no definite roadmap and the founding directors have no trace in the crypto market. Also, if members belonging to the broker ask you if you are in a hurry, there is a high probability that it is a binary options scam.
2) Fake wallets and stupid exchanges
If you want to store your crypto, take the help of a wallet, be it hardware finance or an e-wallet. Most investors choose an eWallet over hardware finance, mainly due to its low fees and durability.
Unfortunately many crypto wallets you see on the Play Store or App Store are fake and looking to get your private crypto key and get you out of your money. It is highly recommended to research wallets and learn the ins and outs before adding your money. Also, it is always recommended to enlist the help of some professional firm to guide you in the right direction.
The FCA has banned many unscrupulous brokers, but there are still many.
Fake brokers, however, are still available.
3) Fraudulent binary offers
Remember the days when our teacher used to give us homework and we hated doing it. However, the change must be made by deciding to invest your cash in some binary options exchange. Digital currency exchanges have increased in number in recent years, giving rise to many shady ones on the lot.
To determine if a trade is genuine or not, it is recommended to perform a full quality check on the site. Some of them include confirmation of withdrawal requirements and methods, security status of websites, phrases and conditions, and proper office address and founder details.
Whether it’s direct trading, a full all-in-one trading platform, or through brokers, it’s extremely important to follow the steps above if you want to save your hard-earned money.
So don’t wait and never fall for such binary options scams. Stay safe from such scams and invest your money wisely.
