Binary Options Scams & Ways to Avoid Them!

Welcome to my short post about the most common binary options scams, make sure to read this page carefully to avoid getting scammed the same way!

Binary Options Scams Exposed

Binary Options Broker Scams

One of the biggest fears of a trader is that the broker won´t payout their profits. While this happens from time to time, it is not as common as you may think! Anyway, there is never a guarantee that a broker won´t leave the scene sometime without paying out his customer, so I recommend to split your capital between 2 – 3 binary options brokers as soon as you start making constant profits from binary trading! This way you can not lose all your capital at once! Especially binary options brokers new to the market may be a problem here, broker like IQ option or Pocket Option, with many traders, won´t have a big problem to cover some losses, new brokers without a big client-base will!

Binary Options Bonus Scams

While this is not really a binary options scam, but it may be still the biggest pitfall for new traders. Always make sure to read the bonus terms BEFORE you take a bonus from your broker! Best to not take a bonus in the beginning, you can still open a second broker account (With another broker) after you know binary options are working well for you! Now you can still take a bonus to have more trading capital!

Account Management Scams

This is another common Binary Options scam on social networks! My own site and group are getting spammed all the day long with account management offers and fake testimonials! Never give away your money to an account manager (or your login details)! For Forex, there are ways to do this without risk that the person will run away with your money, but not for binary options as I know! (Anyway, there are ways to follow traders on Pocket Option, without giving away your money to anybody!)

Binary Options Robots

In my experience, there are almost no robots for binary options with a good win rate! The Binary Options Auto Trader was a good one, but it was not cheap at all, and it is not available anymore! Maybe some robots on Binary.com are working well, never tried them and they are made from real traders, so I can see a chance. Anyway, always be careful with automated binary options trading, especially if it free!

I´m Scammed – What to do?

If you were scammed by a binary options broker or a Robot for example, and if you have used your credit card to make your deposit, you can use MyChargeBack to try to get your money back! If you have used Skrill you still may have a chance to get your money back, make sure to ask the support for help in this case!