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A Common Scam

The scam starts before the investor even opens their brokerage account!

Many new binary option traders get hooked by a video about binary trading signals, or a binary options robot.

The Scam Works Like This:

  1. A fake company opens a website that looks like a legitimate binary options broker.
  2. They create a trading signals software that promises 100% accuracy!
  3. When you join the scam, you quickly lose your initial deposit of $250.
  4. You then get a phone call from a “senior broker” asking you to invest $5000.

How to Prevent Becoming a Scam Victim

The first step to avoid a binary options scam, is to properly research the binary options broker. Most review websites only give generic information about the brokers.

  • Does the broker have a license from a real government regulator like the CFTC, FCA, FSB or ASIC?
  • Is the broker constantly calling you to deposit more money?
  • Does the brokers license protect investors from your country?
  • Has the broker been fined for unethical business practices by their regulator?

The second step is to choose a good trading signals system or robot

  • Never use a robot that asks you to make a deposit, before you can see the settings.
  • Testimonials are all fake and illegal according to CySEC rules.
  • Never follow a trading signal unless it fits with your trading strategy.
  • Remember, the software that created your account, can place trades on your account.
  • Historical performance is never an indication of future results.
  • Read the trader discussions on the binary options forum

Conclusion

Binary options trading scams are a very common occurrence now. Do your research, and don’t get excited about making $1,000 by doing nothing. For every broker you find, and every trading system you hear about, there are 10 others who offer the exact same thing.

 

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About

Rex Wealth Recovery provides wealth recovery services for individuals and companies who have lost money through fraudulent online platforms such as fake binary options brokers, forex and our network of investigative associates spans across the globe making us quite prominent in this field.

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"Company information: This website Rex Wealth Recovery is an intelligence gathering firm that specializes in asset recovery, risk mitigation and claims assessment. We are not a court-appointed claims administrator or class counsel. We contract with licensed investigators. This website is for informational purposes and the services provided by Rex Wealth Recovery are not legal services and the protection of the client-attorney relationship does not exist with respect to the nonlegal services. You always have the right to file claims on your own. Except as provided by law or upon the prior written consent of the client, Rex Wealth Recovery will not divulge or release to anyone other than its client the contents of an investigative file acquired in the course of licensed investigative activity. For additional settlement information concerning the legal process, you may contact your attorney or the client coordinator."