Binary options trading is definitely the subject of the day and the reason for which they take over all the topics of discussion is that many people have been coned owing to the fact that people do not entirely comprehend the functioning mechanism. When it comes down to trading for assets you basically have two possible scenarios: you either win or you lose. This situation is exactly the same as that encountered in betting. You place the bet and there is no way of knowing what the final result will be. The only difference is represented by the fact that in economy you invest in assets such as gold or stocks and the key thing is to be able to predict whether the value of these assets will increase or decrease. This strategy that brokers use while trading leaves a lot of room for stipulation and consequently many customers are subject to fraud, but this is not always the case.
To begin with, a binary options scam is most frequently encountered on online trading platforms. In recent years these have turned out to be highly fraudulent and the reality is that a great number of trading platforms frequently escape the regulations imposed by governs and trick people into investing important sums of money in shady deals. The complaints of customers revolve around the same types of scams, in other words that they were not financially compensated for the gains realized and in addition to this they were not repaid the money invested in the accounts. In order to trick clients that they didn’t succeed with the investment made, charlatans use mostly software that generated fake results and it gives the impression of losing trades. Other classic tactics involve manipulating customers into depositing even more money in the account and the biggest concern is represented by the fact that all this is done with the help of a simple phone call. It is only later on that customers realize that they are not able anymore to get back their initial deposit.
Furthermore, there are other ways in which customers are frequently conned. For instance, many Internet based platforms actually require the customer personal information such as credit card data and so on, which in itself represents identity theft. A legit broker will never ask the client for such details. Finally, many sites constantly advertise themselves as being bargains, the truth is that you are at risk of losing considerable amount of money owing to the fact that software can be easily manipulated without you even knowing. This is the reason for which online platforms should generally be avoided and you should always verify the broker with Is Scam that offers comprehensive reviews. To answer to the question posed in the title is yes. While not all brokers are con artists, there is still an important number of brokers that actually work to the benefit of the customer and you should not be influenced by what is happening and generalize that all brokers are masters of manipulation. To conclude, a little investigation does not hurt and it is essential to verify business partners at all time.