If you are someone who has been badly defrauded by binary options scams, you are not the only one. There are thousands like you who have seriously scammed themselves in such situations and the worst part is you can't do anything at all. This is the very reason why you should start thinking twice if you want to trade binary options in the first place.
How do you know that a binary options scam is going on?
1] Deceptive brokers
The most common among the lot, deceitful brokers, and at the same time they successfully approve an ICO as part of a quick build due to the limited rules and regulations set out in it due to the leniency of the financial authorities . has recently been a major hype over the past couple of years. Copying someone else's white paper and working extremely hard on multilevel marketing via social media impersonations and real celebrity reviews, ICOs are the place to be. scam to buy in today's financial world. Grownups end up signing up for these ICOs for that particular broker and pretty soon you lose all the money.
When thoroughly investigated, there are some peculiar signs that a fake broker can be known, such as the lack of a defined track record and founding administrators with no trace in the crypto market. . Also, if members owned by the broker are asking you to sign up quickly, chances are 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, whether it is physical finance or an electronic wallet. Majority of investors choose an electronic wallet over physical finances, mainly because of its low fees and durability.
Unfortunately, many of the crypto wallets that you see on the Play Store or the App Store are fake looking to grab your private crypto key and take your money out. It is highly recommended that you do your research on wallets and know the ins and outs before you add your money to them. Also, it is always advisable to take the help of a professional company who will guide you in the right direction.
The FCA has banned many brokers who carry out such unscrupulous activities, but there are still many.
Fake brokers, however, are always available.
3] Fraudulent binary offers
Remember the days when our teacher gave us homework and we hated doing it. However, the change needs to be made while deciding to invest your money in a binary options exchange. Digital currency exchanges have increased in number over the past few years giving rise to many questionable exchanges.
In order to determine if an exchange is genuine or not, it is strongly recommended to do a full quality control on the site. Some of these include confirmation of removal requirements and methods, website security status, phrases, and terms, as well as office address and founder details.
Whether it is direct trading, a complete all-in-one trading platform or via brokers, it is extremely important to follow the above steps if you are 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.