How to check if there are a Binary Options Scams in front of you?
In case you will take into consideration the information mentioned below, it will be easy for you to see, if the options operating broker is scam or legal.
- Lack of Secure Sockets Layers – This is the first point to check, as legal broker would not let itself to run its homepage without this permit. Different non-monitored brokers do not get this permit, thus it is better to avoid such ones, as the SSL permit is crucial to ensure the security of traders’ funds and personal data.
- Not Full Information – Just the scam broker will try to hide something from you in order for them to look attracting for the traders and make you sign up for them. Thus, if you think, that the given data is not complete, and you do not get detailed answers for your questions, stay away from this broker.
- Not Genuine Commentaries – This is the most popular trick for scam broker, which are demonstrating false commentaries, recommending to sign up for this particular broker. Be aware of this kind of commentaries and use all of your attention while reviewing them.
- Unrealistic Propositions – If you notice that the broker is offering the services, features and opportunities higher than the sky, the in most cases it is scam. Legal broker offer real things, which they can implement, so do not trust the unrealistic information.
- Precise treating of victory level – Scam brokers always promise high return rate, but they do not provide the information on statistics to confirm these claimings. Trustworthy brokers will not advertise such top level rates, and it should be also understood by the traders, that the win rate is not depending on the broker. It is up to the trader and his experience along with professionalism, which is gained through constant education.
- The Homepage of the Broker – In case of scam brokers, it is not economically wise to put the money into the homepage for the long-term period. That is way these not legitimate brokers open homepages for the period of one year. So to protect yourself, use the services of special Internet homepages, which give you the full information on the examined broker’s homepage, along with the date of the establishment
- Lack of Monitoring Organization – The majority of the legitimate brokers are linked to one of the monitoring authority, and if there is no such link for the broker you are investigating, this has to raise some concerns about it legal status.
- No Confirmation of the Claimed information: Again, every claimed data has to be confirmed by the recorded and official statistics of the broker. Empty claim signals about the scam broker in front of you and in most case it is regarding the win rates.
- Propositions with the set period of existence – This is the feature of scam brokers, which provide the propositions with limited period, which in reality is an never-ending period of existence. To check it, come to the homepage of this broker one more time in a week, and you will notice that this hot offer is still being proposed. Why do they do it? These offers make traders accept them without evaluating the possibilities in detail due to the lack of time for analysis and examination. Do not fall for these tricks and be careful about such offers.
Avoiding and Fighting the Binary Options Scams
Thus, the most optimal method to stay away from these fraudulent brokers is to investigate the broker thoroughly and check each point really attentively prior to signing up for it and putting your funds into it. Do not hesitate to ask your inquiries to the broker and require detailed answers. Legitimate options brokers do not have to hide anything from the potential customers, and in case you find the name of your examined broker on any of the black lists, this is for some reasons, so be attentive. Investigate other reviews, check the records, etc. However, if you take into consideration the above mentioned instructions, it will be much simpler for you to see if the broker is scam or trustworthy. However, there are cases when it is too difficult to distinguish them, so in case you lose your funds with a broker, and detect that it is a scam, then do inform about your case to help other traders to protect themselves from this situation.