Just like in Forex Trading, there are also binary investment scams preying on innocent people unsuspecting of fraudulent activities that will happen soon. We don’t live in a perfect world where people all have the same interest as being good and doing honest work for the betterment of everyone. Unfortunately, there are already a lot of companies nowadays that are making a living out of fooling other people. They make promises only to screw other people’s hard-earned money.
We cannot say that the entire activity on the internet is regulated since a vast number of activities happen on it every single day. And because there are unregulated activities, frauds and scammers are in the high population. A lot of people have been fooled with binary investments promising huge returns, resulting in the misconception that the entirety of this type of investment is completely fraud.
To end these speculations, binary options is actually a legit form of trading. You just need to spot the fake from the legit ones. Here are some helpful tips that you can use.
Check Their Claims
The first thing that you need to check if you are planning to invest in binary investment is the type of claims that they make. After checking the trading system, the software, or the service and you’ve found out that the guarantees are unrealistic, then it should raise a red flag of doubts. These unrealistic goals and offerings are simply fraud designed to victimize unsuspecting trader or newbies. If the returns look realistic then you may opt to consider it.
Check The Creation Date of the Domain
Another effective way of determining whether the binary investment scam is legit or not is through the creation date of the domain. The creation date will reflect the system’s marketing practices and therefore there shouldn’t be any false claims. For instance, you found a trading system that was registered only this year but claims to have a success rate of 90% in the past two years then the dates don’t match. Something fishy is going on. Try to avoid such advertisements and don’t fall prey to such scammers.
Consider the Trading System It Is Working With
The next thing to consider when checking for the legitimacy of the binary options that you have is through the auto trader or the trading system that the broker is working with. If you see that the system is only compatible with those brokers with a failed or notorious reputation, then you should reconsider your decision in entrusting your money to them.
Check The Marketing Widgets
Lastly, to determine the authenticity of the binary options trading, you need to make sure that the broker or the system is not using any marketing widgets that work ridiculously on the framework of their own website. Some widgets are proven to fool marketers but they are easy to identify. Just make sure that you have enough knowledge before you venture into binary options trading. Avoid binary options and Forex Trading scams and be smarter than an online scammer.