How to Avoid Scam in Binary Options ¦ Binary Trading South Africa

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
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  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

Binary Options Trading in South Africa

This website is the one of the leading resources in the world of binary options trading. We have a very large database of reviews on binary options brokers, binary robots, signals, guides and much more. The guides are specifically designed to assist South African traders in getting any and every information needed on various topics in the field of binary options trading. With our site, we aim to provide reviews on great brokers and binary trading products that will not only be of service to binary traders in South Africa but which actually have a substantial product that traders will be able to use efficiently.

*Amount will be credited to account in case of successful investment

It is a fairly well known fact that the industry of binary options has been extremely well received by traders who cannot afford to invest ridiculously large funds in financial trading. This is especially true for South African Traders as this type of online investment trading has profiled into one of the most popular types of trading.

Binary Options Broker Lists

In order to make things more user-friendly for binary options traders who look to us to find information on various available brokers in the industry, we have compiled several different broker lists. Lists can be an extremely beneficial feature for South African binary options traders as they get all the necessary information in a clean and organized manner.

Each of the list categories is formulated in an easy to understand way without unnecessary complications. This important when considering the way in which most active traders actually enter the binary options trading industry. They are typically in a situation where it is very hard to know whether some broker is a good fit for them or even transparent in their business practices. When South African traders find themselves in this situation they do need a way to decide how to choose a broker that is not involved in scam practices.

The multiple categories available on our website are logically organized and easily searchable. Our primary goal is to bring traders in South Africa closer to relevant and professional binary brokers and other products and services so they do not need to spend time on manual research which is very time-consuming and tiring. Find out what each broker has to offer with just a click of the mouse.

Binary Options Trading In A Nutshell

The most basic way in which binary options trading works is by having two mutually exclusive choices, out of which traders choose only one, and can either get it right or get it wrong. What exactly does this mean? Underlying assets, like indices, currencies, commodities, and stock have their price which fluctuates on the market. When trading binary options, South African traders are actually predicting whether this price will go up or down in a predetermined time frame. If you are successful in your prediction you will profit from the trade, if you get it wrong, you lose the individual investment. The important thing about this type of trading is that potential losses and wins are known in advance, actually, they are known to the trader even before he places the trade.

It is now clear that the main goal for South African traders is to be able to be correct in their assessment on which outcome will a certain trade have. This certainly not easy as it involves a lot of compounding factors which all influence the way in which your decision will go. Market analysis, various strategies, and techniques, education, and experience, all play a very important and significant role in being successful in predicting the asset price movement in a global market.

Binary Options Trading Industry in South Africa

When reviewing the history of binary options trading it is clear that it all began in 2008 but did not just include one country but rather quickly spread across the world. As binary options trading industry started to grow, so did the various online trading platforms which had the capacity to offer many features and tools which would not have been available without them. South African traders were also one of those who got on the binary options bandwagon which is why today, in South Africa, binary options trading is one of the most popular trading types when we’re talking about online investment trading.

In this context, there are a few different types of underlying assets that you can trade with. Those types are as follows: commodities, stocks, indices, and currencies. Of course, these are not the only things you should know. There are multiple trading options available to South African traders with different varieties of expiry times. Obviously, each broker on the list of available brokers for South African traders has their own selection of assets and features that binary options traders can choose from.

Trading Options

When talking about various options in trading, South African traders have an extensive list to choose from: High/Low, 60 Seconds, Ladder, Pairs, One Touch and others. Expiry times vary from short to long term, meaning there are expiry time ranging from 60 seconds to several months, depending on traders preferences.

Talking about risks in binary options trading should be an essential part of any binary trading guide. It is important for South African traders to know that there are certain risks involved in trading binary options and financial trading in general. Considering that the execution of the trades depends on the fluctuating market trends which are not easy to predict. However, binary options trading has one thing that sets it apart from other forms of financial investment and that is that the risks and potential profit is known in advance. Not only does this allow traders to know exactly how much they can potentially profit or lose, but it gives them peace of mind because they are prepared and nothing will surprise them.

South African traders can trade binary options 100% online with just a couple of requirements. Internet connectivity is a must along with a device that can support a browser with which you can log into your trading platform.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education.
    Free Demo Account.
    Get Your Sign-Up Bonus Now!

  • BINOMO
    BINOMO

    Recommended Only For Experienced Traders!

Binary Options Trading Features

Binary options trading is generally well equipped with everything you need to have a great potential in creating a profit boost. However, there are a few necessities that need to be in place in order for that to happen. Trading features and tools are those basic requirements and can prove to be a tipping point for many traders.

Obviously, different brokers will include different features on their trading platform, but there are some that are fairly common and you will probably find all of them on most trading platforms. Demo account, mobile app, tools that enable a market analysis, trading limits and many more are designed specifically to speed up and simplify the trading process for South African traders regardless of their experience levels. These features are also targeted at allowing for additional time to spend on education and gaining experience as many traders are not investing enough time into those segments of their financial investment journey.

With all of the available trading features, we believe there is one that deserves special mention as it allows traders to gain a much valued experience in a risk free trading environment. Clearly, we are talking about the Demo account which can help South African traders get a lot of experience and most importantly, get them accustomed to the trading platform. This is a great thing as you really don’t want to experiment with your money when you decide to make a deposit and trade for real. Obviously, demo account is completely free and doesn’t require any deposits as it contains virtual money that is at your disposal.

Choosing Binary Options Broker in South Africa

Although, this isn’t something that seems overly complicated, choosing a binary options broker in South Africa can prove to be a daunting task. This is clearly one of the most crucial steps in binary options trading seeing that the wrong choice of broker can have heavy consequences. In most cases, checking if a broker has a demo account is enough to figure out at least if they deserve your attention and consideration.

Naturally, there is so much more to actually making a good decision about which broker to choose for your binary trading journey in South Africa. Another way to get a feeling about how a particular broker might behave once you set up an account with them, is to read the detailed reviews. By going over those, you will be able to find out if there have been any important complaints against a brokerage that you are considering. You want to look for transparent and straightforward brokers who do not complicate things are and focused on their availability to their South African traders.

Many brokers will have different minimum deposit amounts, but the industry standard is still $250 which is also the case for brokers that are available to South African binary options traders. Obviously, we want to encourage you to find out the specifics of each broker as you do your research as it is quite possible that the one you have chosen has an entirely different deposit amount or that they have recently changed their policy on this.

When on the subject of policy changes, make sure to also have a good comb through broker terms and conditions as there you will find all the fine print that isn’t available anywhere else. Pay special attention to details regarding bonuses, deposits and withdrawals, customer support and any other condition that might be of particular interest to you.

The Essential Features of Brokers in South Africa

As we mentioned already, there are several different things to look out for when thinking about making a decision on a binary options broker in South Africa. As we already wrote further up, it is important to know that this is not something to be taken lightly and at the same time is definitely not an easy decision. This is especially true if South African traders do not have enough experience to figure out what exactly constitutes a good broker as there are many different factors that need to be taken into concern. IQoption is one of those brokers, along HighLow and Binary.com, who have made a significant positive impact on their binary options clients and have actually set the established patterns of trading.

In order to make this process a little easier on you, we have decided to list a few basic things traders need to pay attention to and decide if a certain broker is a good fit for them personally. It is also crucial that South African traders remain realistic in their expectations as no respected broker will ever guarantee profit or tell you that you will definitely get rich. This is more indicative of a scam broker and you should definitely stay far away from those.

Broker Licensing and Regulation

As it is usually the case, South African traders can opt to choose a licensed broker or one which is not regulated. This decision is very much dependant on your personal preferences as there is no right or wrong answer in this case. For brokers accepting traders from South Africa, this is not a mandatory element and it is completely legal for brokers to conduct their business without having a regulation license from an financial authority. If they do choose to get regulated it is their individual decision and not a legal requirement.

With this in mind, we do need to highlight that even though a particular broker does not have a regulated status, this does not mean that they will not be a great personal choice for you. Regulation simply dictates a higher legal framework in which the broker is required to work under but does not mean that if a broker does not have it, it is automatically a scam broker. There are many different factors that can indicate if a South African broker is a scam broker, which we will mention later in the guide, but regulation status is not one of them.

Taking all this into concern, we do think that the best course of action for South African traders is to simply go through all the broker reviews they find interesting to be able to weigh the information accordingly. As you will be able to see on your own, we have many detailed broker reviews which are written with the goal of providing a great and useful source of information for all traders in search of help with their decisions.

Carefully Read Terms & Conditions

Knowing all the necessary, fine-printed information is essential in protecting yourself in the online trading industry. This means that you should carefully read the terms and conditions on the main website of the binary options broker you are considering. This will allow you to feel comfortable knowing that the broker you have chosen has transparent business practices and is not a scam broker.

As we said, being ‘in-the-know’ concerning the conditions your chosen broker has imposed, it is fairly easy to spot a scam broker in that case. However, if you do not take your time to really go over terms and conditions written on the website, you could easily end up registering with a binary options broker that practices fraudulent behavior as a norm.

Terms and conditions are one of those things that exist everywhere where legal consequences are possible, which in and of itself makes it very important. Nonetheless, this is the website section that is most frequently overlooked as traders do not pay attention to what is written and simply press ‘accept’ when asked. This could lead to major issues down the road, so do yourself a favor and never skip this essential part.

In case you have taken our advice and decided to actually read it top to bottom, there is a possibility that, due to a more formal way it is written, there might be certain section that you will not be able to easily understand or they may not even make sense to you. In this case, make sure you contact binary brokers customer support that should be available 24/7 at least via email and ask any and all questions that may be of issue to you. Customer support service should be able to swiftly and eagerly reply to your questions and it should be constructed in a clear and understandable fashion. Some of the binary brokers available to South African traders who do follow these ‘rules’ are IQoption, Binary.com and High Low.

Customer Support and Education Resources

South African traders have another factor to think about when deciding on which binary options broker to choose from the vast number of those on the market nowadays. Customer support is one of those factors and is just as important as anything else mentioned in this guide, and here is why.

Customer support is much more than just a team of people who answer questions. If a broker is respectable and transparent they will have a very well educated customer support team who will be able to provide South African traders, not just with simple explanations, but also with support when you have more complex issues or any doubts regarding your registration or technical issues. They will be able to provide you with a piece of mind that your concerns are being taken seriously and that they will be dealt with at the highest possible level.

A good broker will also be featuring an extensive FAQ section which is meant to answer the most frequent questions that traders have asked so that you can get the information you need in just a few clicks. While FAQ sections are a great starter base for you initial questions, customer support is a better choice when dealing with more complex issues.

As far as when a good customer support section is available and in which manner, it is important to note that South African brokers that have a reputable customer support will be available 24/7. This service is usually via email, web form, fax or various phone numbers. The most preferred choice for traders is certainly Live Chat as it gives binary options traders the opportunity to access customer support almost instantly and can very quickly get the answers they need.

Education resources for traders are usually placed in the website section called the Education Center. This section typically offers many different resources to help traders upgrade their knowledge on binary options trading. It is something every good binary broker will invest in and have available for their clients. Usually, resources include various topics ranging from market analysis to video tutorials. With BDSwiss binary broker for example, you get this and much more.

How To Recognize Scam Brokers

Being able to spot a scam broker is of the utmost importance when participating in an online financial trading industry. Safety and the protection of your funds should be a number one priority to you as an South African trader and also for your binary options broker.

Obviously, considering how many brokers are out there in the industry it can prove to be pretty tricky to figure out who the scam brokers are as they seem to have been getting better in covering their tracks. Of course, there are ways to figure out that the broker might be involved in scamming traders.

Trading Platform Specifics

A great way about online broker reviews is that they are typically fairly detailed and can reveal a lot of things about a broker that a less experienced trader might not even recognize. One of those pretty important details is also the security and transparency of a trading platform used by the broker.

A large portion of South African brokers have high-security measures applied when it comes to the trading platform they are offering their clients. These measures are designed in such a way that your money and trade details are well protected from any threats that might lurk on the internet. The technology that is used to protect the sensitive information on the platform is usually an SSL encryption which is considered to be one of the highest ones.

Binary options traders in South Africa who choose a broker that offer this level of protection can be relaxed knowing that all of their sensitive data and funds are safe against any threat. Beware of any broker who does not invest in adequate trading platform protection as they will certainly not be very helpful if something is to happen to your money.

Know Your Customer policy

This is a policy that allows binary brokers to get to know their client so that they can take necessary precautions to protect their hard earned funds. This is a reflection of a very responsible and straightforward binary options broker in South Africa.

What exactly does this policy mean? It literally means that traders will need to prove their identity in several ways in order to get to withdraw their profit. This is not the most favourite thing for traders to do, but we assure you, it is very much necessary if you wish to be certain that no one else is not going to be able impersonate as you.

With this process there really is not any way that it possible for someone else to withdraw your hard earned money. This procedure is a sign of a very good broker who acts responsibly to the funds they are entrusted to keep. Although the process is fairly similar among all the brokers, it is possible that it will differ from one to another. In any case, there are certain documents that are typically asked to be provided:

  • Bank statement or other proof of residence
  • Driver’s license
  • ID card and/or passport
  • A fairly new utility bill

Hard to Understand Terms & Conditions

We have mentioned before how reading terms and conditions is a very important part of being a responsible binary options trader and we will highlight that once again. However, we do understand that there are sometimes situations where the broker has supplied their traders with terms and conditions that are very hard to understand.

By this we don’t mean that they are simply written a bit more complicated, as this is still a legally binding document and can get fairly technical. By this we actually mean that if you notice that terms and conditions are intentionally made extremely complicated and/or if they simply do not make any sense at all. In this situation you might want to consider if your broker is actually a scam broker.

South African scam broker sometime even go that far that they actively try to ‘hide’ their terms and conditions on their website so that they are hard to actually to find, and since they know most traders do not even bother with reading them, this is a perfect scam disguise.

If you are not sure whether the content you are reading is complicated by nature or is this cone on purpose to throw South African traders off track, you should always contact customer support and directly ask anything you are not comfortable with. If you are not happy with the response they give you, think about finding a new binary options broker. One of the perfect examples of a great customer support is that of IQoption binary options broker.

Promises of Profit

One of the ways broker are encouraging traders to use their platform is by developing interesting bonuses and promotions on their websites. Clearly, it is important to understand what you have to do on your part in order to withdraw you possible profits. However, there are those brokers who are simply so obvious in being scam that it is not even worth your time.

This is especially true for brokers who have no issues with promising very high-profit amounts and ridiculous winning rates. Most South African traders know this, but it doesn’t hurt to stipulate it once again – binary options trading by definition involves risks. These risks are inherent and there is never a possibility to completely bypass it. So when a binary broker is openly promising and guaranteeing profit, you can be absolutely certain that they are scam brokers.

Always stay far away from brokers who promise you profit and you should never consider registering with them. There are plenty of reputable brokers in South Africa, there is no need to waste your time and money on these.

Funds Cannot Be Withdrawn

This particular issue is probably the most indicative of a scam broker in addition to guaranteeing profit. Clearly, sometimes it can happen that funds cannot be withdrawn due to some type of technical difficulty or you haven’t provided sufficient documents to prove your identity. In these cases, the delay is only temporary and it usually is corrected very soon. Also, the broker with which this is happening will be contacting you to explain what the problem is in detail and how to remedy it, or how long you have to wait for them to fix a technical glitch they might be experiencing.

On the other hand, there are those situations where brokers are simply refusing to start your withdrawal process or if it is already begun, you never actually receive your money. If this is something you run into, it is a fairly good sign that you have run into a scam binary option broker.

Scam brokers are plentiful and coming up with more and more elaborate ways to trick their clients. One of those is simply by not giving the clients their hard earned money. We encourage you to carefully read the broker reviews we have on our website to see if a particular broker has ever had any complaints made against them for this or similar issue. If this is the case, we urge you to change the broker you are currently dealing with and find a reputable, transparent broker who puts the needs of their clients before their own.

Binary Options Robots

Binary options trading certainly takes up a lot of time and knowledge and not everyone is able to free up a few hours a day from their schedule to dedicate to binary options trading. With that in minds, more and more South African traders are opting to use a binary options robot to do their trading for them.

South African traders have plenty of choices when they decide to use a binary robot as their trading platform. These robots are a great way to optimize your profit potential regardless of your broker of choice as they typically have a lot of trading options and tools that traders can use to make the trading process much easier for themselves.

Binary options trading robots which are available for the South African binary market are genuinely exquisite pieces of software that are designed to take the hard work away from you and let you focus on other things in life. They usually also feature a very important option that is celebrated for being very useful to traders of all backgrounds and expertise levels. This options is the auto-trading options which lets you manually decide to place your found trades.

What does this mean exactly? Well, the robot that you have chosen or will be choosing to automate your trading process is able to scan the financial market and pull information from it in order to find you the trades with the most profit potential. Once the software has recognized this trade, he will either place it automatically, according to set criteria which is completely customizable by the trader, or the trade will be delivered to you to place it manually or decline it. This way your trading process is completely in your hand, you do not need to hand over control.

Binary Options Signals

Binary options signals help traders to find the trades with the most perspective on the fluid, competitive financial market. Signals are actually based on algorithms that are able to scan the market data and pull it back to bring the trader the most relevant info about the trades they will be able to trade.

Traders in South Africa are choosing to use binary options signals more and more often simply because the time saved it worth it. The amount of data crunching necessary for the trader to get a decent prediction on a possible trade can be overwhelming and not a lot of people have the luxury to devote so much time to binary options trading or any other type of trading available. The manual process also requires expensive knowledge and education and it is simply not plausible that all traders are going to be able to do it correctly.

Binary options signals have another thing going for them and that is the time factor. Not just the data analyzing time but also the consideration about the expiry times. Binary options are being traded in a relatively short time frames and if you are not fast enough, the trade can already be done in the time you get all the necessary info you need to decide which way to place the trade. With binary options signals, you get all the trade details in the form of a pop-up along with the benefit of having that information in time to set up your trade preferences.

Binary options trading in South Africa is completely legal. Any South African trader, whether prospective or current can rest assured that there are no legal sanctions for binary options trading in this part of the world.

As we already mentioned, but it doesn’t hurt to mention it once again – Regulation in South Africa is not legally required, therefore it is an individual choice of each and every broker to either get a license or to be without one. Some brokers do not feel like their traders would benefit from them becoming regulated nor is it a guarantee of any quality.

Regardless of how well you think you are educated in binary options trading, make sure that you do not feel rushed to place trades or to deposit with any broker. Any broker that is pressuring their clients to deposit money to their account or to place trades, especially if they are simultaneously promising unrealistic goals and are generally being very aggressive in their approach and marketing should be avoided. This does not pertain to legality or regulation as even the most regulated brokers can be scam brokers. What traders need to know is that when they are looking for a reputable broker in South Africa they need to follow their instinct as there are many good brokers out there, one must simply identify them.

Final Words

Binaryoption.co.za is a website dedicated to binary options trading and everything pertaining to it. We aim to provide South African traders with very detailed guides and reviews on brokers, binary options signals and robots and much more.

When it comes to any type of financial trading, South African traders are urged to learn how to set aside their own emotions if they wish to have a chance at boosting their profit potential with binary options trading. Being emotional in this type of business is not an advantage and can actually cost you dearly. Make sure to remain calm and collected and carefully consider you traders and investment plans in general.

Traders need to keep in mind that no one should be allowed to trade in their place. Choose reputable brokers and keep in mind that you need to invest your time in educating yourself about all things binary if you wish to potentially reduce your risks.

Binary Option Scams

When it comes to Binary Options, there have been quite a few examples of people who have been taken for a ride by a Broker and have lost a large amount of money. Binary Option Scams are quite common and come down to a number of factors including improper due diligence and manipulation by the broker.

This is an unfortunate situation as it has tainted the image of Binary Options in it’s entirety. Despite the many bad actors on the market, there are good opportunities to connect with honest brokers who treat their clients with the respect that they deserve.

However, finding these particular brokers can be challenging. It is for this reason that we have developed a short guide to spotting the scammers, identifying their schemes and finding the ideal broker to trade with on an ongoing basis.

Typical Binary Option Scams

When it comes to scams in the Binary Options industry, the saying “if it’s too good to be true” rings true. If you come across a broker or signal provider or any binary options agent online that is promising outlandish returns with very little risk, then your alarm bells should be ringing. Although trading Binary Options can yield a trader success in the long term, it requires analysis and dedication.

This is where new traders often tend to trip up. Without knowing any of the binary options basics they think that trading trading them is a panacea that will solve all of their problems. This is why most people who fall for these typical scams are left with a horrible experience of the industry.

The Software Scam

We have come across the software scam quite a few times and it tends to be one the most noticeable scams in the binary options industry. What this usually involves is some “revolutionary” software that has been secretly developed. Usually, you are presented with a video where a presenter will take you through a story of how effective the software is. Apart from some of the wild claims that are made in video, to the untrained eye it may appear as a semi legitimate offer.

However, using some mere common sense would avoid the trader any pain. Firstly, if the software was indeed revolutionary and only made profits, why is it not the exclusive property of a wall street hedge fund? Why would they offer it for free to the general public to use? Moreover, why would a legitimate broker continually allow a trader to use money making software on their platform? Surely this would hurt their bottom line? The Reality is indeed far from this .

These software proposals are merely scams that are an effective marketing tool for the broker. Once you have entered your details, a broker will call you up and try to get you to deposit the minimum with said broker and you then very quickly and effectively lose your money. This is a win for the broker and the affiliate marketer who provided you with the software.

These are usually easy to spot. They use terms like “guaranteed profit”, “totally risk free” with a whole host of other wild claims. They also try to make it look as if there is some urgency to the deposit. You can an example below.

Another typical sign that is usually presented with Scam software are the fake testimonials . We have seen them all. Essentially it is a group of some really well taken and good looking people who give their glowing opinion of the software. We are also often surprised at the extent of bad spelling in these testimonials. Moreover, the traders in the testimonials all have outlandish returns and are from all walks of life. Some of them even claim that they will be quitting their jobs in order to trade binary options with the software! Below are some samples from another offering.

As mentioned, returns that seem to always be positive with no risk of any losses should be viewed with suspicion . Binary Options trading involves some degree of risk and you should have appropriate money management strategies in place when trading them. The mere idea that you can switch on this profitable trading software and only achieve winning trades seems quite sketchy to us. Moreover, who is collecting all the information on these winning trades? Is the broker willingly sharing data and information with the software provider. These are all red flags and you should tread cautiously with information like this below.

The Broker Managed Account

This is another type of scam that we have come across quite frequently. Essentially, a broker will offer a client the opportunity to use one of their “trading professionals” at the company. These are supposed to be ex wall street veterans who can generate you returns that most hedge funds would dream of. These professional traders require you to make incredibly large deposits with the broker to make use of their services. This is generally suspicious to us as they are being referred by the broker. Why would the broker offer you a trader to make money at their expense?

Another type of scam that we have witnessed are signal providers who offer you free signals from their professional traders for a limited time period. Similar to the software scam, they usually only work with a friendly broker who is in on the scam and they present a number of fake testimonials along with supposed trading records. Once you have been on the signals for a certain time period, they offer to manage the account full time for you, subject to very strict withdrawal and lockup periods. This is indeed a red flag as the trader should theoretically always have access to their funds .

Just before you are able to realise your profits at the end of the lock up period, the trader loses all of your money and disappears. On some occasions, the provider themselves present fraudulent documents that they get the client to sign. These are not worth the paper they are written on .

Beware the Bonus

Another dangerous binary option scam that is offered by the broker is a signing bonus. These bonuses often appear to be a generous but come with numerous caveats, which are often impossible to overcome. These include trading the entire bonus amount over a particular limit. We have heard stories from some of our members where they would have to trade up to 13 times their bonus amount in order to withdraw this funds. By this time, the client has either lost all hope or lost all their money.

Although these bonuses are opt-in we have also heard stories from members who were given the bonus despite opting-out. This moves from being a mere contractual snag to a straightforward Binary Options Scam.

7 Binary Options

Marcio

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The vast majority of binary options trading scams will start well before even the trader manages to open their account with the brokerage. The promotional videos are what gets many people hooked. The video about the signals or the robot (whichever they are peddling) makes things look very simple.

Here is how the scam works in a nutshell:

  • A group of scammers set up a website that looks and feels like a legitimate binary options trading broker.
  • The scammers then create a makeshift trading signals software and slap a 100% trading accuracy claim on to it.
  • As soon as traders join the scam, they lose the initial deposit which is usually set at $250.
  • After that those traders will receive a phone call from a so-called ”senior broker” who will ask them to invest $5000.

Any and all amounts deposited will disappear and you’ll never be able to withdraw them.

The Demo Trading Account

We always recommend that traders should stick with trading via a legitimate and highly regulated broker. That broker should also offer you a free demo account.

When it comes to Forex, Crypto or CFDs brokers, IQ Option is regarded as being one of the best as they are licensed in Europe. Plus, traders can signup to get a free trial of their platform.

How To Steer Clear Of Binary Options Trading Scams?

Research is your best weapon against binary options trading scams. You should research the broker properly. However, you’ll need to move beyond the majority of review sites as they just provide you with basic information.

Picking a regulated broker is a good way to safeguard your funds

The most important things you should check is:

  • If the broker has a license from a financial regulator like the FSB, ASIC, FCA or the CFTC.
  • Does the broker continuously call you to deposit money into the trading account?
  • If the broker has a mechanism in place that protects investors from your part of the world?
  • Check the history of the broker to find out if they have been fined for unethical practices by a regulator?

The next step is to shortlist and pick the best robot or trading signals system:

  • You should never use a broker, robot or a trading signals software which asks that you make a deposit before ever seeing the interface.
  • Never choose a trading signal if it does not fit your style or trading strategy.
  • Any software that you use to create the account can also be used to place trades via the account.
  • If there is a binary options forum make sure to read through the discussion there.
  • Keep in mind that historical performance does not guarantee similar future results.

Conclusion

We know more than anyone else that binary options trading scams are very common. So, its imperative to carry out your own research and go beyond just getting excited about a $1000 bonus. Plus, for every binary options broker that you find out about, there are many others that offer the very same features and probably at a lower price.

Carry out your due diligence to find out what it is the requirement for the broker to be regarded as the best in the industry. Also, try to choose a broker that’s licensed locally and is regulated locally because that way your investment is protected.

How to Avoid Scam in Binary Options? ¦ Binary Trading South Africa

(with video below) More and more people are sending us emails asking if the binary options trading sector is a scam in itself, as many horror stories have been shared lately on the Internet. Whether it’s about binary options brokers, signals or winning strategies, watch out for the big and sketchy world of this business.

In this article, you will learn what binary options are, some fraudulent practices in the industry, and how to report the crooks. How does the scam work?

Watch the video below to see in action the Binary Options Scam exposed, plus must-see info:

Before everything, you need to understand exactly what binary options are, in simple words and in-depth. In simple words, the best way to explain the binary options trading sector is that it is very similar to the gambling industry, aka the sports gambling websites or casinos.

You can place a bet on just about anything that is publicly traded (oil, gold, money – see video above), depending on which binary options website you use. You can win sometimes, but there is no way a binary options website could ever guarantee you that you will win. Do you ever see a sports gambling website ‘guaranteeing’ you a win on a Yankees – Red Sox or Seahawks – Giants game?

Given the analogy, beware of those binary options companies that pop-up on your computer screen featuring extremely long videos promising a guaranteed win if you join them on the spot. They typically feature some ‘successful’ binary options investor that invites you to come under his/her wing.

You are promised thousands of dollars a day, and all you have to do is to join their program (which, of course, comes with a deposit towards them first). If you join, little do you know that the fine print mentions ‘results vary’ or ‘no guaranteed win’, unlike the video.

All these wonder-binary option trading systems are sometimes advertised under multiple names, with fake testimonials. They lure you in and before you know it you are out your initial deposit, say $200. A few days later, you get a phone call from a “senior broker” asking you to invest $7,500. –>

Feel free to type in the Comments section at the end of this article questionable binary options brokers that you came across.

Binary Options Trading Scam: How To Avoid

The first recommendation is that you shouldn’t gamble on binary options trading, but again, it’s gambling. A lot of people think that they are good at it. Many even think they are very good, even when they lose.

They always find a wrong reason for their lost bet and start over again, as if they would learn from the lesson of the lost bet. The binary options trading industry is so popular because has an aura of being more respectable than the sports gambling sector since it represents itself as offering a form of investing.

At the end of the day, they are simply gambling sites. When you become a binary options addict it doesn’t sound as bad as a casino addict, does it? You don’t even know you are one.

Research the binary options broker very well, as review websites only give generic information about the dealers. Check to see if the broker has a license from the CFTC, CySEC, ASIC, FCA, BaFIN, or another government regulator. On the other hand, it is always a red flag when he regularly calls you to deposit more money.

Last but not least, be wary of robots that ask you to make a deposit, before you can see the settings.

Binary Options Trading Scam: How To Report

Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below:

What Is A Binary Option

In more complicated verbiage, a binary option is a financial option in which the payoff is either some fixed monetary amount or nothing at all.

While binary options are used in a theoretical framework as the building block for asset pricing and financial derivatives (a binary option maps to the cumulative distribution function of the risk-neutral distribution), they have been exploited by fraudulent operations as many binary option outlets (outside regulated markets) have been shown to be scams.

The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option.

The cash-or-nothing binary option pays some fixed amount of cash if the option expires in-the-money while the asset-or-nothing pays the value of the underlying security. They are also called all-or-nothing options, digital options (more common in forex/interest rate markets), and fixed return options (FROs) (on the American Stock Exchange ).

Though binary options sometimes trade on regulated exchanges, they are generally unregulated, trading on the internet, and prone to fraud.The U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have issued a joint warning to American investors regarding unregulated binary options. and have forced a major operator, Banc de Binary, to cease operations in the US and pay back all customer losses.

Many binary option “brokers” have been exposed as questionable operations. With such binary option brokers, there is no real brokerage; the customer is betting against the broker, who is acting as a bucket shop. Manipulation of price data to cause customers to lose is common. Withdrawals are regularly stalled or refused by such operations.

How To Protect Yourself More

If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the Scam Detector newsletter here. You’ll receive periodical emails and we promise not to spam. Last but not least, use the Comments section below to expose other scammers.

4th, August 2020

Add Your Comment

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Unfortunately, there are many people who have lost access to their bitcoins binary options, their ethereum, or to the digital wallets where their cryptocurrencies are stored. Whether you have lost your Bitcoin or other cryptocurrency because of a fork in the blockchain, because you’ve forgotten your password, or because of problems with your storage, you may fear that your coins are lost forever.

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This is to report the website (probot.club) an investment platform for binary option traders to maximize their returns.

The website is a scam website. I invested $200 on April 4, 2020 for (easy start, 45days). My profits is expected to be paid on May 19th, 2020 but yet to received my payment. I contacted them several times but all my efforts prove abortive.

They sent mail to me that my money would be paid but not see anything. When they discovered that i disturb them too much they blocked me on whatsapp. Please visit the website for more information. Thanks

I did lost exactly about $337,000 to a SOLID C F D broker with their website. There are certain mistakes we all wish we had the power to prevent. Sharing my experience on this; Unfortunately for me I joined the queue of Solid C F D brokerage company. I was approached through a call,convinced they were genuine and Invested all my hard earned savings with them.

Look there are so much list of these brokers to avoid. I can only enlighten newbies and brighten up everyone that has fallen for this cheap lies.

However, I have been able to recover all my money i lost to solid c f d with the guidance of an orientated Financial Management/Recovery expert.
I’m open to share my experience on how reaching out to ;[email protected] dissolved my worries.

I am trying to locate and bring together US victims to initiate a major legal action against them. If you can help, that would be appreciated. Franke is an alias to protect my family against these scammers as they are mainly from Israel, Russia, Bulgaria, and the Ukraine. Here is an article about me and if you want to connect by video to see that it is truly me, I am completely fine with that. Probably a first but I took over the site that scammed me and 15 others, Suisseoption and now using it for a good cause. I’ve been doing this for almost two years now and hope to see some justice. I’ve been tasked by lawyers in Washington to locate enough victims to cover a $1 million material loss from these brokers. Then, the case goes forward. It is a hard thing to do considering full time job and family and I can use all the help I can find. Your site has a decent size audience and US based, so I think it would be a good venue. I’m really tired of seeing good people taken including disabled, retirees, people with kids, etc. I will include the list here too again and the news article about me written for a Jewish newspaper in Canada and I’m not even Jewish. Thanks for your consideration and time.

The sites I’m trying to find US victims:
1001carats.com
4u-groups.com
53capitaltrade.com
53option.com
8888markets.com
Airfinancepro.com
Allegramarkets.com
Argocommerce.com
AsicTrader.com
Axeoptions.com
Axetrades.com
Axetrades.net
Bancdetrust.com
Bank2invest.com
Bankandcapital.com
Bankcfd.com
BBBMarkets.com
Betacrypto.com
BFPFX.com
BFPoptions.com
Bh-markets.com
Binaryroyal.com
Bitcoinoie.com
Bnqoptions.com
Bnroptions.com
Bopros.com
BrokerOfficial.com
Brookstone-chessmont.com
BSDoption.com
Bullabear.com
Bullnbear.net
Bullnbear.org
Buzztrade.com
Cabinet-villepin.com
Capalliancepartners.com
Capital245.com
Capitalbankltd.com
Capitalcommissons.com
CapitalStatus.com
Carat4invest.com
Carterfs.com
Cash4ufx.com
Cci-finance.com
Cfdroyal.com
Cfdwin.com
Cfm-ltd.com
Chasecapitals.com
Chase-Saunders.com
Citybankcfd.com
Cityofbinary.com
Coinbrokerz.com
Coneoption.com
Crown-Finance.com
Crypto-arena.com
Cryptobight.com
Cryptocoinfn.com
Cryptonash.com
Cssmarkets.com
Daxmarkets.com
Dealinpro.com
Deroyalbank.com
Diamondinvests.com
Diamondspartner.com
Diamonds-pro.com
Easylinepro.com
EitExchange.com
EMDCapital.com
Executivecrypto dot com
Extick.com
Faexchange.com
Fcoptions.com
Financecorporation.com
Finance-corporation.com
Finance-trades.com
Financetrading.com
financial-strategie.com
Flyfinancialgroup.com
Fx-dealer.com
Fxinvest24.com
FXlatam.com
Fxpin.net
FXVIP.trade
Fxwso.com
Gain-capitalltd.com
GBOCapital.com
Gcg24.com
Generalbank-invest.com
Genevaoption.com
Gettoption.com
Goldenkeypro.com
Gss-fi.eu
GTPCapital.com
Hamiltonfe.com
HWMarkets.com
Idbtrades.com
Interbanctrading.com
International-diamond-negotiation.com
Invertplus.com
Invest-diamond-center.com
Investing-area.com
Investmentsfx.com
Jacobmorganih.com
K2Investing.com
Leaderdiamond.com
Littinvest.com
Lockwoodinv.com
Marketcfd.com
Marketsyes.com
Mclaren-price.com
MegaCFD.com
MegaTradeFX.com
Metainvesting.com
Meta-investing.com
Meta-investing.uk
MFPInvestments.com
MMFinancialexperts.com
Mybrokercorp.com
Noblecapitalhouse.com
Omega-capitals.com
Omegacrypto.com
Optionmagnates.com
Originalcrypto.com
Palonex.com
Perfectbinary.com
Pinprotrade.com
Platincfd.com
Pointinvestmentgroup.com
Prcfinancials.com
Prestigecfd.com
Primebrokerz.com
Primecryptobank.com
Richmondfg.com
Rushoptions.com
Secondinvestment.com
Shterngroup.com
Spdrinvest.com
Spot2trade.com
Starcfd.com
Stbinary.com
Stockscall.com
Stockswiss.com
Strongoptions.com
Success-bank.com
Suisseoption.com
Swissbinarytrading.com
Swisscapitalconsulting.com
Swissfxpro.com
Swissfxtrading.com
Swissmagnates dot artox dot win
Swissmagnates.com
Technopers.com
Thebtcmarket.com
Thediamondsmarket.com
Topdigitalcoin.com
Trade2get.com
Tradegf.com
Tradersliberty.com
Trustcapitalinv.com
Ub4trade.com
UBSOPTION.com
Vipbusinesses.com
Vipmarkets.net
VipWayZone.com
Weberfinance.com
Welcomediamond.com
Wellingtoninv.com
Worldofcfd.com
Wt-capital.com
XCoinbroker.com

I also lost about $450,000 to an IQ option broker and 2 fake binary option website as well but I am sharing my experience here so as to enlighten and educate everyone that is losing money or has lost money to a scam including binary options, dating scams and fake ICOs.

However , I have been able to recover all the money I lost to the scammers with the help of a recovery professional and I am pleased to inform you that there is hope for everyone that has lost money to scam.
you can reach out to them on :[email protected]

I also lost about $175,000 to a Greenfield Capital broker and 2 fake binary option website as well but I am sharing my experience here so as to enlighten and educate everyone that is losing money or has lost money to a scam binary options, dating scams and fake ICOs.

However , I have been able to recover all the money I lost to the scammers with the help of a recovery professional and I am pleased to inform you that there is hope for everyone that has lost money to scam.

Here is a spammer

After being scammed by KayaFX and DailyTrades I began to search for a legit and reliable company or lawyer, who could help me to gain back my stolen 125k. There were few scams on the way as well, but finally, I was told about a UK company, that is the real deal. Thanks to them I’ve managed to receive not only my own investments but also the profit, I’ve made as I find out later. So, huge thanks from me to ScamConsulting SCC. The whole process took about 2 months. I wouldn’t say, it didn’t cost me a penny, but for this type of your own stupidity, you should pay much more!

last year i was contacted by a broker who convinced me to invest into Davorcoin. i made an initial investment of €7,900 and they asked for €14,500 more in order to access my withdraw. i followed their instructions and made another deposit.
i have been trying to contact Davorcoin for 2 months and i got no response.

i am happy today because i have been able to get 100% of all the money that i lost back with the help of a wealth recovery team. I had no problems with giving them 10% from the Money after I got it back.
you can reach out to me for more insight.
optionsrecovery3352 @ Gmail . Com

if you want to be profitable in binary options – do some research, watch how others trade and don’t invest more than 15% of your monthly income, otherwise it can end bad? i also remember when i started binary trading, it did more harm to me than good. I lost some good amount of cash. I lost faith in the system until a friend introduced me to Mr Armstrong, initially I had doubt entrusting him with my funds but thank goodness I did.he helped me in trading and managing of my account,with his amazing indicators and best of his best strategy i invested $350 and made $7,500 in my first week .. i had my LOGIN ACCESS and i was always able to check my balance and trade records daily ..He really turned THE table around, I didn’t just get back all I lost in binary but also in my life. feel free to contact Mr Armstrong via.

I was scrolling through a binary option group ,then i saw a post about Bryan hills forex and binary trading and how i could earn much more than i can imagine, i got in touch with him and he made every step clear to me and how his strategy would work magic. and it really did!! i got $5100 my first week after i invested just $350 if you are having difficulties in trading , he can also manage your broker account,which you will also have your ACCESS LOGIN so as to enable you to check your trade records and balance DAILY contact Mr bryan hills through

Email : [email protected]
whatsapp : +15185546287
direct phone number : +15185546287
Telegram : http://T.me/bryantrade

Moneybacklawyer.com are scammers. They can’t even spell the word ‘lawyer’.

Their video is done by a guy from Fiverr (his name is Pete), their email addresses are all from Gmail. They’ll feed you some cock n bull story about how they can get your money back quickly – when normally this can take months.

Their documentation is shady – lots of red flags. don’t trust them an inch.

BlueMountain Capital
is an absolute Scam recovery manager.
The firm was founded in 2003 on the belief that internet
persistently exhibit artificial segmentation as a result of
Scam and online irregularities.
If you have been scammed in any way and you want your money
back then we are the best people you will want to talk to.
contact us today.

Key Contact: Andrew Feldstein, Co-Founder & CEO
Phone: +1 631-364-4891
Email: [email protected]

Binary Options can either be your worthwhile or quite your downfall, it is
like
betting on black and red in roulette. I was scammed by Option signals
and 24option, lost my money like a lot of other people out here, it’s
quite heart breaking once you figured you cannot withdraw your funds.
Someone
here referred a hacker that can got to hack their server,phones,emails
to get my money recovered and I contacted him, he was able to recover my
funds within 24hours after I explained myself. So if you happen to fall
into this category, contact him and thank me later, he’s very
professional and has been doing it for quite a while now with enough
recommendations.
Also Versatile in all types of hack i guess. Give it a try

??(|Asianhackgod000| |@| gmail |.com|)

BlueMountain Capital
is an absolute Scam recovery manager.
The firm was founded in 2003 on the belief that internet
persistently exhibit artificial segmentation as a result of
Scam and online irregularities.
If you have been scammed in any way and you want your money
back then we are the best people you will want to talk to.
contact us today.

Key Contact: Andrew Feldstein, Co-Founder & CEO
WhatsApp: +1 631-364-4891
Email: [email protected]

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