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  • How can you Unmask Binary Options Scams?

    What are some of the ways on how you can possibly a trace of any scam on your chosen broker site?

  • #2
    Due to the largely unregulated nature of binary options, financial solvency of the broker is key. Most accusations of scam activity by brokers tend to come back to this one way or another and centre around three key areas -
    1. Pricing of return
    2. Slow payment processing or inability to withdraw deposited funds
    3. Signup bonus offers



    Before explaining these in more detail I should of course point out that the Binary Options industry is no different here to any other financial market place. The same charges which are levelled at Binary Options Brokers are the same as those which are used against Forex brokers, stock brokers and nearly any other trading broker the world over since the beginning of time.

    Comment


    • SharkyTail
      SharkyTail commented
      Editing a comment
      swanson I have to say that there are some broker sites right now that has been accredited and undergoing accreditation for operating binary options, you can check them out if you want to.

  • #3
    You can unmask the scam by doing your homework, continously research and read more about the performance of your broker site, even if you think that there is no reason for you to doubt your own broker site it is still a must that you still check what people has to say regarding the site that you are trading with.

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    • #4
      Some traders who experienced withdrawals which are taking too long, already tagged these brokers as a scam. Without even reading the trading platform's terms and conditions. Give them a benefit of a doubt, some withdrawals are taking some time because of the validation of your accounts especially if its your first withdrawal. They have to verify the documents submitted to them which is a standard operating procedure for anti-money laundering law. I've experienced it, I for one doubt my broker too but their support is always responding to my inquiries regading my withdrawals to ease my worries.

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      • #5
        Originally posted by swanson
        Due to the largely unregulated nature of binary options, financial solvency of the broker is key. Most accusations of scam activity by brokers tend to come back to this one way or another and centre around three key areas -
        1. Pricing of return
        2. Slow payment processing or inability to withdraw deposited funds
        3. Signup bonus offers

        Before explaining these in more detail I should of course point out that the Binary Options industry is no different here to any other financial market place. The same charges which are levelled at Binary Options Brokers are the same as those which are used against Forex brokers, stock brokers and nearly any other trading broker the world over since the beginning of time.

        You have a great idea in there swanson I make sure I will take note of that everytime I sign-up on a different broker site.

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        • #6
          Trying to figure out who the culprit in scamming is very easy, once you find the broker site really suspicious try to research more about them, what most of their traders are talking about their performance, you can make use of helpful sites like blogs and forums to trace if there is something really silly written about your broker site. If you find out that most of the results are really negative and not really acceptable for a trader like you then you should try to avoid those sites immediately.

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          • #7
            I think you just need to check on some few important things about your prospect broker site first, then you do a simple research of what other traders have to say about them, then you can also try the demo account they are offering so you can have a peak on how their software are doing, if they have a lot of misses with your demo winnings then you should try and think again before joining them.

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            • #8
              Try to follow this simple step and you can be sure that you are not dealing with bogus broker sites.

              1. Do your homework by researching
              2. Use the demo account offered by the site
              3. Don't fail to do the math
              4. Never trade more than the fund you have

              Comment


              • Saturn Breeze
                Saturn Breeze commented
                Editing a comment
                It is reassuring to know that your chosen broker has provided prospective trader with demo account, because it is really helpful to newbies to start things right.

            • #9
              agree with #2. check their demo accounts first. reliable brokers usually offer demo accounts. scammers don't.

              Comment


              • Wolfpack
                Wolfpack commented
                Editing a comment
                Wow could this be real? No demo account will specifically lead you to scam?

              • Ramiro
                Ramiro commented
                Editing a comment
                That is quite true somehow, if a broker site doesn't provide a demo site for their perspective client then chances are they couldn't be real because they are more eager to get deposits rather than helping out new trader understand binary options.

              • 20CoolTrade
                20CoolTrade commented
                Editing a comment
                If you think that their demo account is isn't effective at all then you can just leave them and you can avoid getting yourself scammed

            • #10
              You can unmask them when they start asking you to make payment continuously without allowing your withdrawals.
              If you have any issue of lost funds with your broker, manager or any company at all kindly get in touch with me call or whatsapp +441618504197 me let's discuss on your funds retrieval, they can't get away with your funds.

              Comment


              • #11
                Well, maybe some scums presented and there are lot of good signs like not allowing withraw for a long time, asking for more money. Registration bonuses / deposit bonuses with lot of requirements for your initial deposit, but like last poster it also can be a scam How can he help you to return funds by messaging to his whatsapp ?

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                • #12
                  Lodge your funds loss complaints with abstracttechinc website, they will put a call to you/ or send a mail when it has been received. Hurry, they work on 100 cases at once, as they work with a law firm. I was no 79 when i submitted my complaints.

                  Comment

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