Tips to prevent binary options scam

As I had mentioned in the earlier post “Withdrawal problems in binary options platform” about the issue of having difficulty in withdrawing the virtual funds from the Olymp Trade. That had actually given me an alert as to look out for the possible binary option scams. At best, one including myself should really stay away from binary options even though it can look addictive and attractive.

If you had read the article on the types of binary options fraud, you would see something like this:

Adapted from: https://investor.gov/investing-basics/avoiding-fraud/types-fraud/binary-options-fraud

For my case of the failure to withdraw the virtual profits, it would state that the brokers have failed to reimburse funds to the customers.Since Olymp Trade is not really regulated by any official institutions, there is a chance to label the platform as a scam website.

Secondly, the email that I had received(can also be found at Withdrawal problems in binary options platform):

You can also claim that the company may be attempting to commit an identity theft as it is really asking for your bank statement which is something really personal.If you suspect that there is a likelihood for such a ploy, do ignore the email and avoid patronizing their platform at all costs.

Besides, if you are using IQ option which is regulated by Cysec; there is still a possibility for the programmer to manipulate the price level(but not proven yet) especially in the weekends on an OTC market condition, where its payout is high as 91%.One might ask, what is OTC? Well, OTC simply refers to Over-the-counter. The term is used to when there is no formal exchange between the two well-recognized authorities. Then, the problem starts. Some brokers would offer their own condition and allow the traders to trade. The whole situation is more prone to be controlled by a group of wicked brokers who aimed to make the traders lose their money. This would hence make the OTC condition to be riskier in trading.

There are obviously some traders who are not happy with the IQ option and you can read the article “Iq Option – Please read until the very end;it's important, last second trends change, obvious predicted jumps in rising and falling happening oppositely, and no withdrawal” by its own hyperlinks.

Binary options as a whole is not a real tool of investment but more of a platform for online betting. If one were to really delve into real ways of earning money online apart from investing stocks(a preferred mode of investment). You can consider affiliate marketing by promoting the right items to the pool of consumers which will do good to both the company and the consumers. You can equip the skills atWealthy Affiliates. You would get live training conducted by Jay and seek help from the founder, Kyle as well as the other senior members of the group.

The industry of marketing has been booming thanks to the technology which has led more and more people to access the Internet and owning a website or a blog is an added advantage if you are really seeking a job on the Internet. Last but not least, please avoid binary options at all costs as you are really betting against the House. It is nonetheless a waste of your time. You could have spent your time on other aspects more fruitfully. 

Related articles:

Binary options fraud-to recognize all the types of tactics used to trick people into investing in binary options

WHAT YOU CAN DO TO AVOID INVESTMENT FRAUD

Binary Options Fraud-A Word of Warning to the Investing Public

Police advise caution on binary options trading