Binary Options Frauds are the most common frauds in the financial trading world. Reportedly, there have been losses close to a million dollars when it comes to binary options.
A binary option is a financial option in which the payoff is a fixed amount or nothing at all. Binary options can be deceptive, yet they are simple to understand, which makes them a popular choice among low skilled traders. The most commonly traded commodities here are stocks, indices, and forex. The options, having a clear expiration date, time and strike price, if the trader manages to guess the market’s direction at that very particular time, he would be paid a fixed return irrespective of the changes of the commodity after that particular time.
It is being banned in a lot of developing countries.
These frauds are increasing day by day where every naive trader is losing his money owing to the fake promises and returns being promised every day. Automatic trading has taken a toll on the modern trading population with every firm claiming that they have developed bots that are going to help traders make lots of profits in the long run. Claims also include that these bots have been designed in such a way that the investor would not make any loss, whatsoever be the investment amount, a claim that seems fabricated from the first step itself.
The majority of the binary options exchanges are fake. The list of fake exchanges can be found directly on our First Option Recovery official site. These scammers develop websites based on an original binary exchange, however, the trading chart that follows works according to the algorithm developed by them. What is meant by that is when you invest your money in the exchange, it will show that you have made a lot of profit in the short term.
It is highly advised to stay safe and invest your money wisely in such binary options frauds.