Unfortunately, scams are all too common in the binary options arena. Scams can take many forms – dishonest brokers and reviewers, or manipulative robots and other car trading services. So I think you should make blacklist this and list all known scams and dishonest techniques in one place. In addition, potential fraud to identify you to steps you could have been a victim if you give instructions on how to handle the case. If you know what a scam is and are suspicious, let us know if something is missing from the block list and we will investigate.
Why are stories about cheating popular?
When new financial instruments or forms of trading first appear, entire businesses tend to get involved. It is true that some suppliers of this product are more trustworthy than others. The same is true for binary options. After all, it is an accessible and popular way for individuals to trade the markets. Also, it is not surprising that unscrupulous operators will find an edge in the early days, as binary options trading platforms tend to operate in all countries on the radar. managers and on the Internet. Thanks to better regulation, a strong community of online traders and honest reviews, it is now much easier to see fraud from legitimate brokers. But as with the international online marketplace, there are still shady outfits that will cost you less than you do. So what is the red flag? When choosing a binary broker, consider the following:
MyChargeBack.com is a company that helps binary scam victims get their money back. You will be charged a fee to collect the deposit by contacting your bank or credit card company. A free consultation will let you know if you have a valid claim.
Is binary options a scam?
The term online fraud covers a wide range of actions, from providing false information to lure users, to clearing account balances and even dishonest trading advice. Similarly, certain brokers may not technically cheat. The services available on the platform (like highly reliable uptime or no timely refunds) mean that this is a broker to avoid.
In all of these cases the problem is with the concept, not with the binary option, but with the broker.
Therefore, you must do your homework before using a particular platform. User reviews can be helpful (if true), but always treat meetings as skepticism and do not make decisions based on testimonials posted on the broker’s website. Even a trader forum can be a problem. If you look closely, the forum is usually a derivative of a particular brokerage site. Thorough and independent comparative reviews are the safest way to ‘scam’ a broker. Ideally, you should focus on review sites that allow real users to contact, report and troubleshoot specific brokers. So you can check if what you are reading is up to date.
Trusted broker in Vietnam
Here is a list of the top 3 brokers that you always trust. You can find a list of all recommended brokers here .
Regulation
The UK’s Financial Conduct Authority (FCA) now regulates binary options. They created a list of unapproved companies. It is not called fraud, but it is best to avoid it as these companies are clearly breaking the law by doing business with British companies. The full list can be found here: FCA Unauthorized List
In contrast, the United States, along with most other EU countries, considers binary options as financial instruments. Therefore, depending on the location of the platform, many platforms are monitored by the regulator. For example, CFTC in the US and CySec in Cyprus. The regulatory status of the platform is a very important confidence indicator for traders looking to avoid fraud. This indicates that brokers must adhere to certain minimum standards regarding service and transparency.
Marketing Marketing Too Real Real
The transaction behavior in isolation should be simple. In fact, the usefulness of the platform tends to be a big selling point for brokers. This aspect of binary options is easy, but it is different from claiming that the benefits are guaranteed. Realizing profits through regular trading requires an understanding of how the markets behave, the ability to read market conditions and their strategies. If the risk is ignored – or if a blatantly false claim is made 95% of the trade is successful, that’s a false guarantee. This is an indication that in other important areas, brokers may be less meticulous and should be broad on the platform.
Terms of Use
Transparency is essential. Read postmarks and pay special attention to unnecessarily complicated procedures for withdrawals. The terms of the first deposit can be another source of dispute. For example, if access to a deposit is denied until certain transactions are made – your funds are tied to the platform from the moment of the transaction. This deposit hold is usually part of a broader term relating to ‘bonus’. CySec attempted to ban this type of terms by disabling the ‘matching deposit’ bonus. Brands other than CyCec are still free to use, so T & C must always check.
Cold call
These trends fall into two categories. The first is where you are called in blue and invited to join a particular platform. The latter happens when you are connected to the platform and receive a phone call (or email) from a “advanced broker” pointing in the direction of a particular trade. Reputable brokers do not need to call. In-call calls can also include emails. All forms of unwanted access should be considered “cold” exposure and considered extremely suspicious.
Sales channel
You should always be clear who you are dealing with. In some cases, visit a website that looks like a real brokerage site and sign up to be redirected to another broker by clicking the link. Alternatively, you can instruct them to use only the brokers recommended by the Online Trading service. This funnel site can be used up front by undisputed brokers or working together to mislead visitors (using the misleading marketing mentioned above). Good brokers take precedence over their identity from the start.
Managed accounts
It is one thing that brokers can access their data and analytics tools to build their own strategies (in fact, this is one of the signs of a great platform). It is another thing for brokers to provide trading advice. After all, with the ‘over the counter’ Binary Options broker, you can bet from home. If ‘house’ is making trading decisions for you, it’s unlikely that decision will be in your best interest. This type of online selling is usually the best for the broker and is often where the trader loses the most. Traders are encouraged by “account managers” to be encouraged to trade beyond their means. Sometimes large accounts can be deleted in a few hours. Justice advice is directly against money management that sounds and greatly increases the risk. Always be responsible for your own agreement.
Price manipulation
There must be a fair and transparent benchmark for the broker to set prices. This benchmark should be what is happening in the real world. That is, real-time market prices. If the broker has the power to set its own prices, you can assume that the figures are distorted about you. In other words, it’s a deck of cards.
Fraud brokers and deprecated operators
The brokers listed below have generated many complaints both directly and in the forums. Conflicts range from selling and incentivizing traders to overtrading, withdrawal payments, and price manipulation. In general, it is recommended to find a trustworthy binary options broker as traders are less willing to open a dispute with an unregulated broker . Scam has been widely used as a term to refer to all forms of poor service, but it should be noted that many of these brokers do nothing wrong or illegal, but < em>one of these attracts higher than the usual complaint level. If in doubt, trade elsewhere. There are many honest brokers out there.
Instagram and Facebook
Beware of scams operating on social media. Again, binary is not a rich quick scheme. There are many accounts that trade on your behalf and promise to convert $2k to $8k a week. If these claims are true, then the people behind them don’t need to show ads or register people. They will simply trade on their own
Successful transaction screenshots are very easy to obtain. But the operators won’t bother to deal. Once you deposit, it disappears and is never heard from again. Always choose your own broker and always be responsible for your own trades. Make sure no one else is acting on your behalf. If you don’t understand binary options or don’t have time to trade, don’t trade. Such scams often feed on inexperienced people.
What to do if you’ve been scammed
Think you’re in a binary options scam? Read on to learn what you can do when you’ve been scammed. There are ways to avoid falling for a scam, but if you really follow all of these tips, you’re still likely to get scammed. What should I do if that happens? Do you sit and have it? Do you waive the agreement? No, you have to stand tall and be careful. Deals can be good, rewarding, and lead to a life that doesn’t entail working or stepping up the clock. The actions of a broker, signal service, robot or expert cannot convince you on the road. This article looks at what you can do when you think you’ve been scammed. When you crash, you won’t be able to earn and you can reverse the initial deposit, but it may require some work.
MyChargeBack.com is a company that helps victims of binary options scams. They fully understand what happened by helping the claimant explain the incident to the bank or credit card company. Some banks don’t know binary trading and don’t want to hear claims. MyChargeBack helps in this situation. They have a definite record of recovering from real requests.
If you have not yet sought third-party help, follow these steps:
- Record everything. The first thing to do is write down everything you can do. This includes brokers or SSPs, terms and conditions, email/skype/live chat copy, deposit confirmations, turnover claims for bonuses and transaction history. Whatever you do next, you need this information to be satisfied. What to do next depends on the type of scam you feed.
- Withdraw money. The broker cannot withdraw funds. Contact your broker to find out why you can’t leave. The most common reason is that you have not submitted the correct ID document as required by international law and this is an easy problem to solve. The next most pressing reason why withdrawals are not allowed is because of bonus terms and turnover requirements. If you do not meet the conditions, you will not be able to withdraw any form of funds, so you will have to keep track of all your trading volume and sales. If you didn’t accept the bonus in the first place, the documentation will help you prove it. A good broker will try to solve the problem.
- Listen to your voice. Brokers are constantly running around me. If the broker can’t solve the problem and can’t solve the problem, the next satisfaction is telling the community what’s going on. After all, getting grease is a jarring wheel. You can do this by posting a complaint with details on a forum like Binaryoptions.net. When doing this, notify the broker and send a link. They may not care about showing shady brokers, but when it comes to trustworthy brokers, they will want to fix the problem to avoid bad publicity. By posting a claim, you can get as much detail as possible by simply saying that the broker has been scammed, and evidence of fraud has consequences.
- Contact your payment provider. Brokers do not help. It is very likely that at this point you are not only being scammed, but also misinformed. If you are not satisfied with the broker, then you need to take more drastic measures. If you’re sending with a credit card, this may mean calling the card company and asking for a chargeback. Inform us that the original charge was false and that the company will not return your contact request for best results. The Times Of Israel reports that victims of the scam can receive a full refund of their deposit after contacting the financial institution that handles the broker’s payment. The payment has been withheld until the broker responds to the request.
- Contact the regulator, it’s time to call in a big gun. The biggest advantage in expanding binary options regulation is that there are many alternatives for many traders who think they have been scammed. This can be a challenge in some cases as it is hidden because many brokers are offshore and have virtual offices and companies. If the broker is regulated, contact the supervisory authority. If you are not regulated, contact your country’s financial regulation supervisory authority. If the broker is regulated, in order to comply, the matter must be resolved to the satisfaction of all parties. If they are not regulated, they will spend more time at least buying people in your country.
- Act with patience. Shady brokers want to hire people who are good at biased inquiries and complaints, but they don’t accept what they say. It may take time, but eventually you will talk to the right person or the right person and your case will be resolved. Most likely, your contact request, forum complaints and combination of fees with regulators will add one thing, and the broker will return your money to avoid further trouble. .
How to spot a trading scam
On the Internet, ads, articles, companies and individuals are trying to make you rich all night long and then come up with a great trading strategy. Pause my friend There are tips to help you uncover scams.
Is it a system or a strategy?
On top of that, a trading strategy doesn’t really make you a good trader. What you really need is the whole system. When planning a deal, you need to deal with market entry, exit, and money management methods. It is also necessary to be informed about the market situation in which all of this is done. This is a system and tells you everything you need to know about how to trade. On the other hand, aStrategy only tells you when you are in and out, and may not tell you which situations work best or worst. It also may not provide guidance on position size or whether multiple assets can be traded at the same time. In other words, the information needed to succeed in the strategy may be missing. We need a complete trading system But marketers are smart, so when you call a product a system, it sounds more perfect. But isn’t it? Here are a few things to watch out for:
Canning system
The boxed system is a black opaque black box with an unknown system how the strategy works. For example, a product might be a set of indicators or a service that tells you when to trade, but that’s not the reason. This won’t make you a better trader because you don’t know what’s going on behind the scenes. If the signal product or service stops working, nothing is left. Even if you have made money with your product/service, you need to start from scratch. When you buy a product, it explains how it works so you don’t have to depend on the product/service.
Very high odds
Can you have a 90% win rate? Of course, you can also lose money with a 90% win rate. Statistics are easily manipulated to tell partial truths or manipulate lies. Another popular tactic says something like “I make $500 a day!” Actually didn’t say anything. If it’s on a $1,000,000 account, making $500 isn’t too big. And if they lost $3000 the day before, it sucks to make $500 today and brag about it. Read between the lines Didn’t you say anything? To understand performance, there is some information, such as account size (capital), yield, amount at risk per trade, profit per trade, win/loss ratio, winner biggest, biggest loser, average winner, average loser, number, etc. Requested. Strategy and test/tradable turnover and time.
There are other measures that can help, but if you can’t or can’t provide information by asking the company about it, be suspicious of it. All in all, the above statistics can help you identify vulnerabilities and trends in your system. One of the main things is that the strategy needs to be tested over the long term and in all market conditions – uptrends, downtrends, ranges, volatility and resistance conditions. It is not necessary to stay profitable in each of these environments, but it must be traded in at least all environments for the system to know profit overall . Usually marketers only publish results during the good strategy phase. However, this does not give a real idea of how the strategy or system will work in the long run.
- There are other things to consider when it comes to statistics. If the system is profitable, the results are based on all trades. Would you all trade if you bought one product or service? The problem many traders have when signing up for a signal service is that they don’t trade every signal. If you do not exchange all signals, your individual results may differ significantly from the overall service results.
Only one direction
Avoid systems that only trade in one direction. For example, you only buy assets, not short sales. If the market goes up and down, I want to join both trends.
No trial period
If the service is not suitable, you will be able to inspect the product and cancel without fuss. All in all, a quick Google search forum can tell you what others have shared about your product or service. No trial, no deal. Don’t trust anyone, try it for yourself. Be careful if they don’t let you.
Final word on identity fraud
You should not rely on a product for a product or service. It will show you behind the scenes so you can finally trade on your own. Good products always have customers because there are people who don’t want to work and there are always new traders. There is no reason to completely depend on every customer. Pay attention to the throw statistics. Ask yourself what the stats don’t say. Also, if the statistics they provide are legit, trade all signals to get typical results of the service. Of course, keep in mind that past performance is not representative of gift results. It’s a way to do some homework, a strategy/system/service/product based on a long history and proven profitable in all kinds of market situations. Check before buying a product/system/service. If they don’t try you, doubt it.
Case Study – JV Affiliate Marketer
In this section, we will look at how JV option affiliate marketers avoid fraud. It’s not too hard as many scams make money using emotional greed/fear tactics, but you have to let go of your emotions and investigate things logically. Once you understand this, you can save time and money with these unscrupulous donuts quickly and simply. Some scammers are simply funny about being stupid, while others can do a great job of scammers luring you through a real person/system/review. Where did the money go?
As you can see from many scam videos, simply “don’t deposit” will no longer work. Next time you watch a video of a similar nature, you will know that it supports deceptive systems/marketers. Whether or not a deposit is required is flying at night, and even if it isn’t, it is supporting scams with the feature of having to deposit as a new broker. So if you decline the deposit, it will disappear. Not the same story and not the stories and promises to join a YouTube system/bot for free They don’t have to deposit you and get paid for that deposit Therefore, time limited / fast money / can’t lose! / Don’t just = fund your account!
From the image above, you can see that many phishing systems are often connected to each other on the same server. This JV marketer has a lot of turnkey scams because of very low maintenance. The reason you see so much is because in a couple of weeks the new plot software goes away and gets boring, you can start production from something else and keep everything fresh and new so you have can avoid complaints about old scams. Share complaints with others. If they keep something new, you can avoid this given the fact that most beginners go from scam to scam, hoping that one of them will work. Do not work and deposit.
Case Study-Social Media Scam
Social media is a “perfect” platform for scammers, more cunning and persuasive, and unlike JV marketers, these people can talk directly to Friend. If they think they can no longer get from you or are no longer valuable to them, they won’t be friends with you at a heartbeat. Since they are your money one by one, beware of people asking for a deposit or signing up telling you about great benefits and opportunities that end up empty-handed. Videos used with Green Room Group and FB Wealth Group Can pretend to be merchants/friends, but you can also try to make money or pay directly through subscription.
Also, if you mention anything related to Multi-Level Marketing (MLM), it is trained to attract customers, so run it differently. These guys will tell you everything you need to join and invest without playing. There is a 45 minute interview about people being scammed by The Room Room Green and the FB Wealth Group Group. Called Binary Options Horror Story. If you are new to binary options, fully absorb the warning signs above to see what happens because people buy money from people. Also note how you work directly with the broker. This means that the broker can also participate directly.