Binary Options Scam Brokers List

Binary Options Trading has become one of the most popular investment businesses these days. People like to earn easy money sitting at home without putting much effort into it and moreover, who would want to sit in front of their computer screen and want to trade for hours?

The answer to this problem is the automated binary options trading software with which you can make the computer do your trade. This software are also known as robots or auto traders and they can lessen all the problems that you could face when you trade manually. This also allows common people like you and me to trade without any hardcore knowledge of advanced financial and economic strategies and make money.

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These days the number of automated binary options trading software have increased by leaps and bounds and the authenticity of this software are quite questionable. This is because most auto traders are not licensed and this opens up the opportunity for fraudsters to develop their own fake software and sell it to common people and trap them and steal their money.

Before the introduction of the Automated Trading Software’s, it was quite hard for the people to make fraudulent trading platforms. But now it has become quite easy for them to make fraudulent sites, and as people were not able to differentiate between the fraudulent and legitimate sites this led them to suffer heavy losses.

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So today, in this article I will tell you how you can identify a fraudulent or Scam system. But before we go into that let me tell you what Binary Options Trading is.

What is Binary Options Trading Platform?

Binary Options Trading is a financial trading in which the payoff is a fixed amount or nothing at all. This is called binary because you can only choose whether to Call/Yes or Put/No so as to  deal with the payouts.

Generally, traders trade through regulated platforms that provide with licensed brokers but day traders and amateur traders can also trade using the automated trading robots or software.

But before trading through these software one must know what kind of product they are dealing with so as to make sure they are tricked. So, let me help you to learn how you can identify a Scam software among the variety of trading systems available online.

How to Identify Scam System:

Here I have listed the various ways with which you can identify a Scam System.

  • Firstly you should search whether the website lets you connect with brokers who are licensed by CySEC, FAC or IFSC. These are the financial regulatory agency that provides a license to these trading platforms on the basis of the services provided by them. Generally, fraudulent sites are not licensed by these agencies, but sometimes they use fake logos to confuse people. So be sure to check them out carefully.

Option Robot is one such genuine sites which have regulated brokers and they clearly give details about the broker sites with which they will link you up as soon as you make an account. Just have a look below.

binary-option-robot

  • These scam websites don’t contain proper information, contact details, no live chat, no support team and the websites are not designed properly and in maximum cases they contain a video where it is explained to you about how they have made an algorithm that has enabled many to earn lots of money, but these are just fake promises and a plot to take away your money.
  • Sometimes they even offer the free trial, but this is nothing but a ploy to take away your money which you could have invested in some other legitimate source and earned loads of money with it.
  • Sometimes they use a hired persons to share a testimonial or to be their spokesperson in the promotional videos. They are actually not the owners of these scam sites, in fact, they are just actors who have been hired to provide you with false details.

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They are hired by these scammers just at the price of $5, these actors are generally hired from fiverr.com. For example, the person shown above is a very well known the fiverr actor who is regularly hired by scammers to provide testimonials or as a spokesperson of scam systems. Check the picture below.

the-fiverr-actor

  • Checking the age of the website is another best option for catching these scam makers. You can just copy the domain address and paste it in the who.is website and from there you will get the information about when the website was created. These websites are generally two or three months old and the information they provide on their sites is that they have been doing this for a year or so, basically, they are just lying about everything.
  • In the videos, you will come across the actors, who will tell you about a unique algorithm that they have created and with they have earned loads of money. But in reality, these are just bogus things made up by them to trick you. Watch the video carefully to notice that they will keep on bragging about this algorithm but they will never explain to you how the algorithm really works. The algorithms that are used in the Options Trading platforms are unique and very different from each other.
  • One very simple way to find out whether a system is not or not is to see whether they claim to make you earn an unrealistic amount, for example, $3000 or $4000 a day. This is because the possibility to generate such huge amounts are not possible in binary options trading at least every day.

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  • Another important thing that you can do is change your VPN and then check. When you try it normally without changing the VPN then you will notice that they might provide some bogus limited offer but as you change your VPN you will notice that the numbers in those limited offers have changed drastically. Sometimes they even have time limits that are about to get expired as you enter but when you just change your VPN the time resets.

Binary Options Scam Brokers List:

As we know that the scams will never end, so that is why it is important to stay alerted from this bogus systems whenever you would come across. Here are some of the Binary Options Scam brokers Lists that one must avoid.

Conclusion:

So these are some of the details that you can notice to identify a scam software. Be very careful while noticing these details as some of these are not easily noticeable.

Try to avoid any kind of suspicious system if you have a little bit of doubt. The best thing is to check up reviews about these suspicious systems and investigate the matter so as to save yourself from scammers and to avoid any kind of online theft.