Binary Options Scam: The Truth Revealed!
If you are interested to know the truth about Binary Options then, it must mean that you are planning to dive into this world of online trading. So if you ask around then you will see that, there are many people who will let you know how they have made a profit by trading with Binary Options. And then there are some, who will put up a big warning sign if you talk about Binary Options and will tell you tales of how they became a victim of Binary Options scam. So, who is telling the truth?
Binary Options Scam or Not?
If you are looking for the answer to this question then, you will be pleased to know that Binary Options is not a scam. So, if you want to enter the world of online trading with Binary Options then, go right ahead. It is a great way to earn a huge profit and that too without putting a great deal of effort. Yes, Binary Options is that easy!
Now, you must be thinking that if Binary Options trading is safe, then why are so many people are thinking that it is a scam? Well when something becomes popular, it opens the gate for a lot of frauds to earn a profit at its expense. And this is exactly what happened to this method of online trading. Many fraudulent binary options scam firms have pretended to be legit Binary Options Brokers and cheated a lot of people. As a result Binary Options has gotten a bad name in the process.
The question arises, how you can tell if the broker you have chosen is legit and not a binary options scam? To help you out in this department, everything that you need to know about Binary Options along with the ways to spot a scam have been mentioned here for your convenience:
What are Binary Options?
Understanding the concept of online trading with Binary Options is the only way you can earn a profit via this method. And at the same time, this knowledge will also help you to spot a Binary Options scam. So, let’s first discuss about Binary Options.
Trading with Binary Options is just predicting the value of the unterlying asset. The strike price or predetermined price will be your window and you have to correctly guess if there will be an increase or decrease in the price of the asset. If you think that value is going up then you have to choose “call” investment option. Similarly, if you believe there will be a decrease from the strike price then choose the “put” investment option. So, if you can guess correctly then you will earn a profit, and if not then you will make a loss.
Why people thought Binary Options were a scam?
You can now see for yourself how easy and effective trading with Binary Options is. So, now why people fall for a Binary Options scam? Well, there are two reasons why people think this method of online trading to be a scam, and these two reasons are as follows:
Lack of Knowledge
As Binary Option is much easier that other major types of online trading, so people think that they can earn a profit without learning about this type of online trading. Binary Options, like all other types of online trading also comes with risk. So when they happen to suffer a loss as they did not study the proper techniques and strategies to earn a profit, they feel that the Brokers took advantage of them. Thus, it is highly recommended that you understand this trading method before investing your hard earned money.
Fraudulent Binary Option Brokers
And the other major reason why people think that they were scammed is because they were truly scammed. As mentioned before, to cheat the newbie investors, many scammers have come up with websites which look legit and lures in investor via these websites. Once the investors are hooked on, the scqmmers by pretending to help out the investors will actually empty the investor’s back account. These scam websites are growing in numbers and thus, you as a new investor have to keep your eyes open so that you can spot these Binary Options scam accounts.
How to spot actual scams?
How can you know if the Binary Options Broker which you have chosen is legit and not scheming Binary Options scam? Well, believe it or not, it is very easy to spot a scammer. So, here are the different ways by which you can tell if the Broker will scam you or not:
Researching is always a good idea
If you research well about the subject of Binary Options then, you will be able to understand a loophole or a compromising factor which can harm you financially. The Brokers who are legit and known for providing a great help have one thing in common. They will all provide information about them and the investment process clearly in their website only.
So, just by reading what they have provided, you will be able to figure out if their help will actually be fruitful for you or not. And thus, in this way you will be able to stay clear from a scam. Here it should be mentioned that, you also have the option to read reviews and testimonials of your chosen Broker to check and determine if they are legit or not.
Checking the address
Another way you can avoid a scam is by checking the address of the company. The address will let you know in which country the company is based in. So, this will allow you to know if the company is under a poor regulatory system. There is no advantage for going for a broker which is not properly regulated. If you go for such a broker then, you have to face difficulties like problems in withdrawing the fund in question, no customer support and also slow trading platform among others. So if you see something you do not like then, it will be best to ditch that company to be safe from being scammed.
So there you have it, everything that you needed to know about Binary Options along with the ways to spot a Binary Options scam. Now all that is left to do is selecting the right Broker and start this method of online trading as soon as possible.