Binary Options Frauds are the most common fraud in the financial trading world. Reportedly, there have been losses close to a million dollars in 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, making them a popular choice among low-skilled traders.
The most commonly traded commodities here are stocks, indices, and forex. The options, having a precise 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 commodity’s changes after that specific time. A lot of developing countries have imposed a ban on it.
These frauds are increasing day by day where every naive trader is losing his money owing to the fake promises, and fake return promises every day. Automatic trading has taken a toll on the modern trading population, with every firm claiming that they have developed bots that will help traders make lots of profits in the long run.
Claims also include that the bots designs are made such 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. Users can find the list of fake exchanges 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. We advise you to stay safe and invest your money wisely in such binary options frauds.