How to Avoid Binary Scam and Avoid Losing Your Hard-Earned Cash
For thousands, they have fallen into the trap of a Binary scam. Binary options are not new investments for traders, they have been around for quite a lot of time now but it seems there is a rise of scams occurring. However avoiding a scam can be a lot easier if you have some knowledge about this area and know what to look for. Read on and find out a few simple ways to hopefully avoid a scam today and in the future.
How Does A Scam Work?
If you want to avoid a scam, you might first know how it all works. Basically a scammer will create a website and for the most part, it’ll look like a genuine broker’s website. The scammer may offer guarantees their software works and is fully effective in getting great returns. The website will be full of testimonials from apparent clients and as soon as you sign up and deposit your money, it will be gone. Soon, you’ll receive some sort of communication asking you to invest a larger sum of money and if you agree, every cent is gone. That is the general idea of scams and it’s easily done. Unfortunately scam reviews are also used by the scammer to fool you.
SSL HTTPS Certification
One very easy way to potentially avoid a binary scam would be to ensure the site has SSL HTTPS certification. Now most fail to see the point of this but in actual fact, it’s very important for genuine brokers everywhere. If a binary option broker claims to be legitimate they will surely have gone through SSL HTTPS certification and if not, then you should be very wary. What does it matter if they have SSL HTTPS certification? Well, this is a very costly process and usually only serious professionals opt for this.
Forget Scam Reviews and Testimonials
Most websites today have some sort of testimonials or reviews about them but you can’t rely on them all! It’s hard to know which review is legitimate and which isn’t and in truth, you need to take what you read with a pinch of salt. Reviews can be helpful in most cases but sometimes, scammers pay others to create fake reviews. Also, they can use fake testimonials too and that can often distract you. Don’t let this happen to you; be wary of reviews and testimonials! A binary scam is easy to orchestrate and if you don’t do your due diligence then it can work against you.
Forget the Promotions and Bonuses
Binary options brokers are very unlikely to offer such a wealthy bonus or promotion for signing up to them. Remember, these people are in business to make money and are less likely to offer you hundreds of dollars in welcome bonuses! This is definitely something to remember when it comes to avoiding a binary scam. Yes, some legitimate brokers can offer a fairly decent promotion but when it’s on such a large scale, be wary and it might just keep you safe.
Tell-Tell Signs May Not Be There
In most cases, there are subtle hints as to a scam but unfortunately scammers are getting better and can hide their fraud from even the most suspecting of people. When you’re signing up to a new broker, you must look at their sites closely as well as get to know everything about who they claim to be and what they offer. If something seems too good to be true then it may very well be! Tell-tell signs aren’t always there so be wary of everyone even when you believe you have a true professional, a binary scam can occur so easily.