No Reprieve For Binary Options Scams

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

7 Binary Options

There is that ugly word again “scam”, it seems like it is used a little too easily lately; it’s almost like it maybe means something differently these days. A lot of times these misguided associations are attached to financial products such as binary options. It’s a little aggravating when this happens to an industry that is working hard to clean up an image that it never should have had in the first place.

I don’t believe that Binary options trading is fraudulent at all and believe me I have been around it a long time. Then again why would you believe me and take my word for it? You shouldn’t, that is why I am going to tell you how to protect yourself when trading binary options and some ways to do things to make sure no one can take advantage of you.

First of all it’s important to know what the word “scam” means. Dictionaries describe it as a fraudulent or dishonest means to get money from someone or something. I looked further and saw nothing about it relating to someone who made an uninformed binary options trade and lost their money or someone who was angry because they lost money after not taking advantage of everything that their online broker offered to help them trade successfully. As with all things, sometimes you have to consider the source before you believe something.

Things to Look Out for to Avoid a Possible Scam Broker

Becoming a binary options broker is not as hard to do as one might think; the trick is doing it well and attracting and keeping a lot of customers. There are only three major software platforms that can run a binary options trading site and anyone can purchase these; basically anyone with the knowhow can start a brokerage site. Here is how you find the reputable ones.

What are some of the Red Flags that Indicate to be Aware of a Broker?

If the return on investment for a trade is unusually high or unusually low it’s a bad sign. Too high means the broker is trying to get new customers in a hurry and may go out of business in the process and your investment will go with them. When a return on investment is too low it indicates a site that is only interested in their side of the money equation.

  • Poor Funding or Withdrawal Processes

The money in your deposit account is yours and you should have access to it any time you need it. Charging fees is not a scam; all places that perform banking functions do that. With that being said, slow withdrawal times or repeatedly having trouble initiating a withdrawal are big red flags and you need to find a new broker.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

A company that gives you bonuses for everything on their site is a company that is confident they are going to be able to keep your money. You should be wary of a broker that always offers bonuses or establishes unrealistic conditions you need to fulfill before you have access to any bonus money.

Protect Yourself before Joining a Brokerage Site and be Smart about the Money You deposit

Here are some more ways you can avoid feeling like you were scammed:

  • Trade only with disposable income that you can afford to lose. You don’t think straight when you just lost your rent money on a trade.
  • Trade on sites that are regulated by binary options agencies such as CySEC.
  • Stick to trading with established brokers or if you like what a new brokers have to offer only invest a small amount of money with them until you are comfortable they are legit.

If every binary options trader sticks to these ideas and keeps an eye out for what was discussed, I will never have to write about binary options scams again because there won’t be any.

Start trading now with our recommended brokers.

Binary Options Scams

Ever since humans have been trying to make more money, there have been scammers ready to take advantage. One of the problems, of course, is that naïve consumers and investors, looking to increase their earnings, can lose everything as the result of a scam. Another issue is that a number of perfectly legitimate brokers and businesses end up being tarred with the same brush and labeled scams because of unscrupulous actions of others.

One of the difficulties is related to binary options scams. It’s important to realize that binary options represent a legitimate way to make money (even though some claim that trading them is a scam), but at the same time it’s important to be careful, since there are scammers out there waiting to take advantage of you.

First of All: Binary Options Trading Is Legit

It’s important to realize that binary options trading isn’t some big scam. Binary options have been traded for a long time, and they are a legitimate way to speculate on market outcomes, and are especially popular amongst Forex traders.

The idea that binary options trading is a scam comes from the fact that the speculative nature of this type of trading means that there is a very real chance of loss. And, it’s an proposition. If you’re right, you end up with profits. But, if you’re wrong, you lose the premium you paid in order to buy the options contract. These losses lead many to think that it is a scam. However, binary options trading is no more a scam than stock trading or Forex trading.

What Binary Options Scams Are Out There?

You need to be aware that there are different scams being perpetrated in order to part you from the money you work hard to earn. Some of the scams are more a result of poor quality software, and poor customer service, than overt scams. For example, a broker might use poor software that doesn’t record orders properly, or has other problems. You might think you are purchasing one contract, but the software says you purchased something else. The result is that you lose money.

Another possibility is that you have difficulty working with customer support when something goes wrong. You might be simply told that nothing can be done as your money trickles away. It’s also important to be on the lookout for brokerages that don’t allow you to withdraw your money, instead forcing you through various hoops, or telling you that you’ve forfeited it in some way.

Be on the watch, too, for sites that are scammers, including fraudulent web sites and “brokers” that disappear after a few weeks.

You Do Need to Watch Out for Scammers

However, just because binary options trading itself isn’t a scam doesn’t meant that there aren’t scammers out there. While there are a number of reputable brokerages that can help you trade binary options, there are also scammers trolling the web, looking for susceptible traders. Before you decide to begin trading with a brokerage, you need to make sure that you are dealing with someone reputable.

Look for a few red flags before you sign up as a client and start trading binary options:

  • Guaranteed profits: No one can guarantee your profits. Anyone who insists that you can’t lose money is probably a scammer. There is no “safe” investment, whether you are trading binary options, or investing in the stock market. Stay away from this types of fraud.
  • Loose regulatory environment: Check the country the broker bases its operations in. In some cases, the country has a poor regulatory infrastructure and that makes it easier for fraudsters to set up shop. Be wary of brokerages based in countries without good regulatory practices.
  • Poor reviews: You do need to be careful of relying too much on poor reviews. You can, though, get a good idea of a broker’s legitimacy by spending time on forums, and looking for information about the broker. There are a number legitimate binary options brokers, and you can usually find them with a search of the Internet, or by visiting the forums. Be suspicious of organizations that not many people have heard of, as well as brokers that have nothing but bad reviews.

As long as you do your homework, and you are careful about the brokers you work with, you should be able to avoid binary options scams. Then, all you have to do is worry about whether or not you are making the right calls when it’s time to trade.

Best Binary Options Signals Review: Is it Scam?

Best Binary Options Signals Review: Is it Scam?

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Last Updated: Sep 1, 2020 @ 11:44 am

Well, when folks bump into this binary options service hosted on this domain, Best-binary-options-signals.com, the first question which they ask is whether it’s a legitimate signal provider or not.

We will answer that question in this review as we analyze the various aspects of this service. But first, it’s important to know that this signal provider is offering free signals and at the same time offering a premium plan which is to be paid for at the end of every 30 days.

Their free signal service is basically meant to lure in traders to subscribe to their paid signal service which the website says has more value than the free service.

So, is Best Binary Options Signals worth signing up for? Can you increase your efficiency in trading Binary options by simply following and implementing their signals.?

Best Binary Options Signals Review

Now that it is quite obvious that Best Binary Options Signals is a signal provider, we should go into details right away to let you know how it is like to use their signal service.

Let’s start with the free signal service. It’s meant for people who want to try out their service for free. But you generally have to wait longer in order for signals to show up. Besides, the website claims that free signals are not as accurate as paid ones.

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So, is there a possibility that the free signals are randomly generated while paid ones are carefully selected by expert market analysts? We are being tempted to think that Best Binary Options Signals is basically displaying random signals on their site, and it works in mysterious ways. Here’s how it often goes:

A traders comes to the website and tries to follow at least 5 signals. If the signals win most trades by chance, this trader will be prompted to sign up for the premium signals plan which costs £55 per month.

When they sign up for the premium signals service, they will be getting into a contract that is renewed on a monthly basis. If the trader forgets or fails to cancel their membership (in the event that they want to opt out), a month’s fee will be charged for that particular month anyway.

Generally, the free plan is a time waster because it keeps you waiting for a long time before new signals can show up. We believe that this can be a hectic way of trading Binary Options especially if you’re used to automated trading robots that save you from unnecessary screen time.

What is the average win rate and is it consistent?

The website is very open with their average win rate. They say that their win rate is 63.04%. In November 9th 2020 for instance, they said that they sent out 138 forecasts and that out of these, 81 signals made money while the rest, 51 lost money.

This win rate is not the best you can have in the industry right now. With cutting edge trading robots on sale today, there is no way you should find this service desirable because that win rate is just above the break even mark.

If it was consistent, it would take you a long time to make a significant amount of money. In addition to this, you cannot put what you cannot afford to lose at stake. If you did this, you’d be raising your risk profile for huge, quick profits. That would backfire on your account because we are talking of signals that hit the green, 63% of the time.

Generally, we would not advice readers to sign up with Best Binary Options Signals because of the low win rate.

How many signals can you receive per day?

Their free signals service is a little bit restrictive. There are only 5 trade-able assets to work with. But on the other hand, their paid service issues signals across a broad spectrum of assets. This can be up to 15 different trading assets.

This should not be a problem for you if you’re not into fast paced trading which often leads to over-trading and ultimately account blow.

But if you’re the kind of person who is always looking to jump into the next trade, you might find the free plan quite restrictive because one has to wait for a count down timer for a signal to come along. To remove this count down timer, Best Binary Options Signals is asking traders to upgrade to their premium plan which will then unlock over 100 plus signals per day.

What we think about Best Binary Options Signals website in general

When you go through this website, the first thing you will see are signals waiting to show up or signals that have already been traded.

In other words, this website also shows us history of their signals. However, there is no performance record to show how their past signals performed.

We are not sure if Best Binary Options Signals is trading these signals or just sending them to users after analyzing the market. We do believe that professional market analysts are traders themselves. This means that before they can even think of sending the signals, they should be thinking of entering a trade based on a specific entry point which have figured out on the chart.

One might think that we are asking too much when we say that Best Binary Options Signals does not have trade history.

We are not. If these people are real expert traders, they should keep a clean record of whatever they have been doing for the past one month or so.

Nevertheless, we can also see that this question is being camouflaged by the fact that they are offering free signals for your testing. That means you should test their free service on a demo account and if you’re pleased, you can upgrade. The question is, what is so difficult about providing daily trade records that can be verified? Isn’t this the ultimate test of transparency that every signal provider should embrace in order to convince traders that their signals work?

Before we forget, Best Binary Options Signals is also offering a trial plan for £15. This expires after 2 days and is non-refundable in case you fail to take advantage of the signals.

Best Binary Options Signals states in their fine print that if you subscribe on a weekend for the trial plan, this will not be counted, and yet money shall be deducted with no refund later on. We feel that this is a little bit unprofessional.

Best Binary Options Signals confesses that their signals are meant for illustrative purposes only

If you read the fine print at the footer of the site, you will see a notice saying that information on this site is meant for education purposes only. Again, this service needs you to have some knowledge on how to trade Binary options. If you have never traded before or are not proficient in analyzing charts, it is not for you.

In other words, Best Binary Options Signals is just looking to provide clues on how entry and exits which will cost you £55.

Our best advice for you

If you already know how to trade, we don’t see the need to sign up because you know where to enter and exit your trades when the right patterns form. If you don’t know how to trade, then we suggest that you pick a trading software/signal service here.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!

  • Binomo
    Binomo

    Good choice for experienced traders!

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