The Truth About Binary Options Scams! (Plus, Current Scam List!)

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First things first — Go here to see my no. It usually starts off with you receiving an email about some amazing new app that can make you rich. You click on the link in the email and you end up on a sales page with a video of someone showing you their new app and how you can access it for free and make a fortune. After you make that deposit the software will start auto trading for you. At this point according to the sales video you can sit back, and watch as it makes you a fortune. Unfortunately that never happens, and the software app will actually trade your money away to ZERO.

The software that is supposed to make you rich is actually programmed to lose. You see the binary options brokers need you to lose money, if you were to go and make millions then they would be out of pocket and probably go bankrupt! With these binary scams there are 4 categories of people involved in the scam:. Well at this stage they NEED you to lose money, because if you start making winning trades they are immediately out of pocket.

Some people have lost their life savings in scams like this. They are literally all the same. The only thing that changes is the offer owner 3.

Unlike legitimate forex and stock brokers the binary brokers need you to lose. With legitimate forex and stock trading brokers can make money on commission and spreads. With binary options the opposite is true. They operate like casinos and they want you to lose because if you start making millions they are the ones out of pocket! If you really want to make money you need to learn how to build a real online business, and not rely on some scam software or get rich quick scheme.

There are legitimate programs out there but like anything will require commitment and hard work. This new program has now been promoted to the rank of my no.

Go here to see my no. I figured out how to make a 6-figure income online and I've put this blog together to teach others how to do the same. Click here to see my no. This list will be updated regularly: So how does the binary scam work? The software app is designed to lose… The software that is supposed to make you rich is actually programmed to lose. With these binary scams there are 4 categories of people involved in the scam: The binary options broker — The broker is the company that enables you to trade binary options.

This is where you deposit your cash. Brokers operate like casinos — They need you to lose Unlike legitimate forex and stock brokers the binary brokers need you to lose. Conclusion — Avoid binary options!

So Mark, what do you recommend? Thanks for stopping by!

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Binary options involve predicting the movements of commodity, asset or index prices over a short time. If you agree, they direct you to a website with a login, account details and the trading platform. Once invested in the scheme, victims have reported that their money begins to disappear quickly. The scammer does everything they can to keep the victim in the program but inevitably they stop taking the victim's calls and, after a short period of time, it is common for the firms to disappear.

Do your research on the offer and the company. Don't agree to anything straight away. Skip to Content Skip to Sitemap. Enter a search term. Home News Don't be lured into binary options scams Listen. Don't be lured into binary options scams 9 September How these scams work You receive a call out of the blue offering a secure investment with fast, high returns. The scammers have professional looking websites to help them appear legitimate, usually with a login process, personalised account details and a trading platform.

If you guess correctly, the account is credited with a small return. If you guess incorrectly, you lose the entire amount placed. The odds are stacked against you so it is very likely that you will lose over time. When you attempt to withdraw money, you find it almost impossible to do so and often lose the entire investment. Binary option scammers will also ask for personal information, claiming they need it to transfer money or that it is required for anti-money laundering purposes. Providing this information can leave you open to identity theft.

Protect yourself Consider any approach for investment offers carefully, especially if they are over the phone. Be suspicious of investment opportunities that promise a high return with little or no risk. Check ASIC's list of companies you should not deal with. If the company that called you is on the list - don't deal with them. However, if they do not appear on the list it doesn't mean they are legitimate.

Don't let anyone pressure you into making decisions about money or investments - get independent legal or financial advice. Carefully consider who you are giving personal information to, such as details from your passport or bank account, as this could be later used for identity theft.

If you are looking to invest in binary options your best bet is to just say no and look for a safer, less risky investment. Investment schemes Investment schemes involve getting you or your business to part with money on the promise of a questionable financial opportunity.

Beware high risk, no reward investment scams. Consumers warned about property investment schemes. Queensland authorities seek to speak with victims of investment fraud scheme. Protect your retirement savings from investment scammers. TVI Express "money-making" venture.