Probably one of the shrewdest scams ever committed, BinaryBook Scam remains as the scam that took away millions of dollars from investors and closed its website as soon as it was about to be exposed as a fraud broker. First Option Recovery analyzes and details how the scam function, the Binary Book Scam’s warning signs, and what you need to do if you have been a scam victim. Nevertheless, we see a constant spike in the number of fake binary cases in the financial world. Hence, we suggest you stay safe, secure and never invest much money in a particular broker without verifying who it is.
First Option Recovery has successfully dealt with situations similar to Binary Book Scams (like TradeRush Scam) daily. We are a fund recovery firm that has recovered the money from such firms for more than a decade. Over $19 million has been recovered by us with the help of our 120+ best in class attorneys who work day-in-day-out to bring the best recovery solutions for your business. Owing to such expertise in fund recovery, we are associating with 2400+ clients for whom we have worked in over 3400+ cases, sometimes it being multiple cases for a single client.
HOW DID THE BINARYBOOK SCAM UNFOLD?
The team at First Option Recovery decided to research the Binary Book Scam and was undoubtedly acquainted with some disappointing news, we must say. The About Us section comprised plagiarism, and no valid data was available about the website’s security. A bit more research led to us discovering that the broker started its operations in 2015 but was not regulated and suspicious. Also, trading from the US is not allowed, which caused even more suspicion.
HIGH DEPOSIT AMOUNTS
The first thing about the BinaryBook Scam was its high deposit amounts. The amount was equal to the lifetime savings of specific individuals. Although they had promised high returns, such high returns for binary trading are not possible. We were indeed accepting that it was a scam.
First Option Recovery found out that it offered five different types of accounts, each of which wanted a minimum investment of $1000. The worst part was that they didn’t mention the account types’ features on the website, which was against the trade rules.
NO SOCIAL MEDIA ACCOUNTS
We exposed Binary Book as no social media accounts were associated with it. This was a clear cut example of how the scammers wanted to extort quick money and run away with it in the very first place. They opened a Facebook account to avoid a setback, but it was inactive for quite some time. All reputed brokerages remain connected with traders via their social accounts, but that was not the case here.
NO DEMO ACCOUNT
The final nail in the coffin for the Binary Book Scam, as exposed by First Option Recovery, was the non-availability of the demo account. It typically leads to difficulty in familiarizing yourself with the trading features that the broker provided before dealing with the issue. We even visited the Learning Centre available on their website, but there was nothing available at all. The learning centre was a mockery that just copied some pages and videos from genuine binary broker sites.
WHAT TO DO WHEN YOU HAVE LOST YOUR MONEY IN THE BINARYBOOK SCAM?
The first and foremost thing that you need to do is not panic. You need to relax and leave the job up to us. First Option Recovery handles each case with pure professionalism, which portrays its ethos for the fund recovery process. When it comes to the BinaryBook Scam, we have recovered funds from many clients who have been victims of that particular scam. Apart from that, we have been dealing with other scams like forex trading scams and crowdfunding scams. If you contact us regarding the above, we will assign you an advisor who will guide you regarding the fund recovery process. The point is that you will get your funds delivered to your bank account within a short time frame. Do contact us if you have been a victim of the Binary Book Scam.