The pitfalls of binary options

The pitfalls of binary options
December 03 16:24 2016 Print This Article

In the past traders were the targets of all sorts of trading systems that don’t work. Unscrupulous people still sell or give away for free their losing strategies, but now they target everyone.

Binary options are so easy to understand, that you can explain trading to anybody. You just have to predict whether the price will go up or down. So scammers now target the general public with their products, because they can easily catch your attention.

They will say that they can make you lots of money with their binary options trading system. And they will give it to you for free. Such an offer sounds of course irresistible, but at the same time not real. Because there is no free money.Image result for The pitfalls of binary options

So what happens if you accept such an offer? They will ask you to deposit money with a broker of their choice. You see, the first thing you have to do is to send your money somewhere. Isn’t it suspicious?

Of course it is. Because it is the last thing you will hear from them. Once you send your money to their broker, they will earn their affiliate commission and you will be no longer interesting for them. Their software will then lose your deposit in trading.

One of the latest scams of this kind is Swarm Intelligence. Read the review to see how it really works. But there are hundreds, if not thousands of similar programs that are all after your money. This is something that is weighing heavily on the reputation of binary options.

But because a lot of brokers are willing to accept new customers referred this way, these scams are not ready to cease. Regulators are unable to catch up with all these programs, so you have to defend yourself.

And it is not very difficult, you just need common sense. When they say you will get free money, they should not ask for your deposit first. You cannot lose your money if you don’t send it anywhere, or if you don’t give your credit card information to anybody.

Scammers need your cooperation to take your money, so do not cooperate. There are no free binary options robots that make money. And it is only logical. If only one free profitable software existed, we all would be already rich.

And you should know one more thing. The binary options industry is dominated by fake reviews, only a few websites publish real and honest review, so keep that in mind when looking for testimonials of real users.

view more articles

About Article Author

Lana Walton
Lana Walton

View More Articles