Binary Options Scams have been creating one of the biggest nuisances in the trading industry and sadly it is something that many investors have already been victimized by. If you are one, don’t be scared because there are thousands like you who have seen such a situation in their lives and still found out a way to recover the money that they have lost. Nevertheless, binary options scams are something that you need to keep a thorough eye on.
How to identify a binary options scam?
Daily emails and cold calls
If you open up your email and find out that a person emails you daily to say that he just earned a lot of money from binary options and wants to reveal it, it’s a scam. If someone promises to be with the Australian Duty Office, and poises you with legal action unless you send them some bitcoin straight away, it is a scam.
Watch for these sorts of attempts to obtain your money. Do not send money or try binary options trading anywhere except if you specifically who you’re sending it to. And don’t try to indulge yourself in binary options anywhere without double checking the facts.
Malware downloads
The Internet era brought a great deal of viruses, adware and spyware and other bad guys into the world. Unfortunately, the value, anonymity and whole digital nature of cryptocurrency means scammers can now earn cash a lot easier with dangerous downloads.
As always, you shouldn’t click on unknown email parts or potentially dangerous links. You should also be very aware about bitcoin being used as bait. For example, a post on social media where someone claims you can mine bitcoin just by downloading a program or a web link to an expected bitcoin exchange that offers freebies to get started on should always be treated with hunch.
There are a lot of safe, genuine and secure cryptocurrency exchanges, but you probably won’t get to them by following strange links.
Other Scams
Often there are binary option clubs that pitch themselves as investment and membership networks. They guarantee high returns, or cash flows or some form of pay off, but with a catch. You have to stop something of value, such as a membership fee, or regular continuing payments into an account or to an agent or questioned to deliver money anywhere.
Outright scams tend to market by themselves heavily and conceal their true purposes through proven marketing gimmicks. Their brokers and marketing entrance is known to be excellent at potential.