Many investors have been investing their life savings into a product that promises great returns. Instead, they find it tough to absorb that the investment was nothing but a lie in the name of a binary options trading scheme.
First Option Recovery has been in the fund recovery business for binary options scams recovery for over a decade. It serves a top-class team of 128+ attorneys and a success rate of over 90%. We consider ourselves the top contender for the Best Fund Recovery Firm’s position.
Being the hottest topic of the 21st century, Binary Options has risen above the ranks of forex and stock trading. It realizes that the rise of a trading tool is directly related to the number of scams that it arises. Poor financial knowledge is terrible with the greed of getting rich. It has quickly driven investors, especially beginners, into the trading world to invest money into these fraudulent practices to lose all of it in the long run.
First Option Recovery alerts you about such details throughout the world of binary options scams. What seems real might be a honey trap for most naive investors.
WHAT IS BINARY OPTIONS TRADING? ARE BINARY OPTIONS SCAM OR LEGIT?
A binary option is a financial option in which the payoff is a fixed amount or nothing at all. Binary options can be misleading, yet they are simple to understand. It is a popular choice among low-skilled traders.
Stocks, indices, and forex are some commonly traded commodities. Options come with an exact expiration date, time, and strike prices. If the trader somehow guesses the market movements at that point, he earns a fixed return. That is irrespective of the changes in commodities after that specific time.
Many developed countries have stopped these practices. At First Option Recovery, we offer advice after proper instructions from our advisors’ team. Our experts have described binary options as high-risk and unsteady investment options by many professional traders.
SIGNS OF BINARY OPTIONS SCAMS
FAKE PROMISES AND RETURNS
The binary options scams are increasing daily where every new trader loses his money. Owing to the fake promises and returns promised every day. Automatic trading has taken a toll on the modern trading population. Every firm claims that they have developed bots that will help traders make lots of profits in the long run.
Claims also include the investor not making any loss with these bot designs. Regardless of the investment amount, the statement seems manipulated from the first step. First Option Recovery already deals with such problems regularly. It highly suggests you stay away from such bots as no bot can outrun a human mind’s trading ability.
The attractive claims indicate that the bots’ designs are incredible. Said to be manufactured with the help of professional traders across the world who have worked on this together. Unfortunately, very few can understand that this software is nothing but a guessing game.
The software comes at a cost, and once you pay it, despite the scammers promising you a money-back guarantee. It is suggestive to keep away from such bots as these fraudsters will run away with your money.
FAKE EXCHANGE AND TRADING MECHANISM
The majority of the binary options exchanges are fake. The binary options scams list of fake deals is 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 much profit in the short term.
The greed for more profits will make you invest more than necessary. Still, you will see that you are reaping in the profits. Now the problem arises when it’s time to withdraw your funds. Once you place your withdrawal request, you will notice that the broker is making stupid claims.
Excuses such as lack of workforce or bank holidays in that particular country result in a delay of wire transfers. Even contacting customer care doesn’t bring about a proper response. Soon you realize that your money is lost, and you end up being an unhappy prey of just another binary options trading scam.
INSANE BONUSES AND CELEBRITY ENDORSEMENTS
Here is a short and quick way to determine whether a binary options trading scheme is a scam or not. Check whether your broker provides you with an insane bonus even before investing your money. Binary options are profitable yet are an expensive affair in the long run. Mainly due to expenses like brokerages, rate cuts, licenses, and high hosting fees.
It’s odd when a new exchange suddenly offers you large bonuses in the very beginning. There is a high chance that the broker might be a false party. Offering a reward in the initial stages contradicts the contract terms. No regulatory authority allows a broker to provide a bonus before you start winning your trades.
If you open the First Option Recovery homepage, you’d realize that we do not have any celebrity asking you to buy our product. As celebs never know what’s being promoted or sponsored. It’s merely a money-making practice.
These fake brokers invest in many celebrity advertisements to gain followers’ trust. Blind trust is something that one should never exercise. It would be best to examine a broker before deciding to invest your money with them.
HOW TO SAVE YOURSELF FROM BINARY OPTIONS SCAMS?
Being victims of binary options scams can be prevented by following the below procedures. Firstly, you need to ensure that the broker or the bot that is helping you trade with is of a reliable size. Also, an expert would always suggest checking the broker’s license.
Central licensing authorities include Cyprus Securities and Exchange Commission (CySEC) and Commodity Futures Trading Commission (CFTC). Conduct research about the firm on important financial forums. Checking its reviews and authenticity is also necessary. You can take help from the binary options scams forums as well.
Another feature to look for is whether the trader allows you to open a demo account before trading with real money. Having a demo account enables you to familiarise yourself with that particular broker’s trading scenario. It gives you a fair view as to whether a website is a duplicate website or not.
Beginners in the investment world often receive random salesperson calls pitching “too good to be true” deals. It’s best to skip these offers as there is a 100% chance of fraud. Calls like these are typical for new investors. In most scenarios, they will ask you to make a deposit and eventually run away.
Despite all the signs, there are several times when we lose our money. To err is only human! In such a case, First Option Recovery is there to help you irrespective of how the money is lost. We specialize in many fund recoveries (including pharmaceutical scams and online gambling scams). Binary options recovery is one of them.
Our expert team consists of advisors, attorneys, and private investigators. With a global presence of above 22 countries, we have been working towards eradicating faulty dealers. Our motto attempts to provide world-class advice and the best possible fund recovery options. Recover your money within a recorded period.