If you are badly deceived by binary options fraud, then you are not alone. There are thousands like you who have been greatly deceived out of such situations, and the worst thing is that you can do nothing at all. This is the very reason why you need to start thinking if you want to do binary options trading in the first place.
How do you know that a binary options scam is happening?
1) Deceptive brokers
The most common among lot brokers, and at the same time they successfully support ICOs as part of rapid falsification due to limited rules and regulations established for them as a result of leniency by financial authorities. recently there has been considerable excitement over the last few years. By copying other people’s information and working extremely hard on multilevel marketing through the embodiment of social networks and real reviews, ICO is a scam that can be bought in today’s financial world. The main people eventually sign up for these ICOs just for this broker, and soon enough you will lose all your money.
In case of proper verification there are some signs that allow to learn about a fake broker, for example, there is no definite road map and founding directors who have no traces in the crypto market. Also, if members owned by the broker ask about you to commit in a hurry, there is a good chance that it is a binary options scam.
2) Fake wallets and stupid exchanges
If you want to keep your crypto, take the help of a wallet, be it hardware finance or an e-wallet. Most investors choose the e-wallet instead of financing the equipment, mainly because of its low fees and durability.
Unfortunately, many of the crypto-wallets you see in the Play Store or App Store are fakes that seek to seize your private crypto-key and take your money. It is strongly recommended to conduct a study of wallets and learn about the shortcomings before adding money to it. In addition, it is always recommended to seek the help of any professional firm that will guide you in the right direction.
The FCA has banned many brokers who perform such unscrupulous actions, but there is still much left.
However, fake brokers are still available.
3) Fraudulent binary transactions
Remember the times when a teacher gave us homework and we hated doing it. However, a change needs to be made when deciding to invest in some binary options exchanges. Digital foreign exchange exchanges have increased over the past few years, leaving the party with many skeptics.
To determine the true exchange, it is strongly recommended to conduct a full quality check on the site. Some include confirmation of withdrawal requirements and methods, website security status, phrases and terms, and correct office address and founder information.
Whether it’s a direct trading deal, a full all-in-one trading platform or through brokers, it’s extremely important to follow the steps above if you want to save your hard-earned money.
So, don’t wait and never get caught up in such binary options scams. Beware of such scams and invest money wisely.