Should we be naive and believe everything that is written and shown in advertising or check the information so as not to become another victim of clever scammers ? Everyone makes their own choice. Binarium broker experts advise not to let your guard down and before contacting a new broker and, moreover, entrusting him with money, check whether he is also a fraudster.
How do so-called binary options brokers scam newcomers and is it possible to identify scams before losing money? Read the recommendations of our experts, draw conclusions, and never let anyone deceive you!
We warn everyone who is just planning to enter the business or has already taken their first steps, not because we want to denigrate our competitors. Fraudsters do not compete with us in principle. Our goal is to protect traders and give them a real opportunity to earn money where they pay money and motivate them to learn and grow professionally.
And now about the schemes. They are known and practically do not change, with the exception of certain moments.
Terminal without market entry
A very common deception. In fact, all those charts and movements that a trader sees on the website of a “ binary options broker ” are a painted living picture. Quotes are taken out of thin air, have nothing in common with real ones, and accordingly, change as the broker himself wants. The trader opens fake transactions that have no relation to the real market and loses money.
How to check? You need to compare charts, analyze prices and close the account at the slightest suspicion of fraud.
Self-paying rates
Frequent practice of brokers who have no relation to real trading in the binary options market. The principle of operation of the terminals is simple: the broker brings together investors’ transactions. The loser's money goes to the winner's account. The scammer makes money on the price difference.
Blocking accounts
One of the most blatant methods of deception is blocking accounts, designed for completely inexperienced beginners. Fraudsters do not even try to mislead the investor by imitating the operation of the terminal. They simply block access to the site for anyone who tops up their account with real money without explanation or the opportunity to find out the reason through the support service. As a rule, such brokers do not operate on the market for long and disappear after several months of “active” work.
Bonuses as deceptive incentives
Smarter brokers try to deceive in a veiled manner with the sole purpose of surviving as long as possible and stealing as much as possible. Giving bonuses that cannot be redeemed later is another option for deception. Initially, the trader is not warned about the conditions for working out bonus funds. An investor deposits money, actively trades, including bonuses accrued to him, but when he tries to withdraw funds, he realizes that this is impossible.
In general, bonus incentives are not always a scam. Fraud here is associated with unrealistic working conditions. The technique is “stolen” from honest brokers, but it works in the opposite direction with the goal of ruining traders.
In Binarium, bonuses, like promotional codes , are awarded for replenishing your account, participating in promotions and tournaments, not in order to slow down withdrawals. On the contrary, incentives help to increase your deposit with a relatively small investment, and most importantly, gain valuable practical experience.
How to avoid being deceived
Only conscious and attentive traders can avoid becoming victims of deception. Stop believing everything you see on the screen. Don’t be lazy to check quotes, compare charts and analyze the situation. Do not rush to fund your account with real money before you understand that the broker is honest. And even after you understand that everything is working fine, do not keep large amounts on your account, withdraw money, leaving on the deposit only the part necessary to continue trading.
Remember the rules of risk management , do not let yourself be carried away by an uncontrollable wave of excitement. But even better, don't take risks unless you really need to. Broker Binarium is a proven platform for trading and training in the binary options market.
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Start with a reliable broker and don’t tempt fate, especially since the site has a lot of opportunities for growth and development, from free educational materials to VIP accounts and the Trading Room service. The latter is a way to take your trading to the next level using accurate signals, following the example of experienced pros.
Helpful Hints: Conclusion
To summarize, we note a few points that are worth paying attention to first if you decide to try out a new trader. Before registering, and especially before replenishing your account, study its history. Check how long the company has been operating, whether it has a regulator’s license and whether the support team is ready to maintain a dialogue with you.
An important point is feedback from traders. Read what users write about the company, contact traders who have dealt with the company.
See also:
How to verify an account with Binarium
How to open a new account with Binarium?
Mobile application for binary options broker Bianrium
What are the benefits of a VIP account with the Binarium broker?
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