I don t like losing money trading but I prefer it to being scammed; at least I lost it because of me not because of a scam broker or a black box trading software. On the bright side, comparing things now with how they were 2 or 3 years ago, I can tell you that we ve seen a decrease in broker scam and also some very reliable brokers have risen. Regulatory authorities are really starting to make their presence known and this of course drives the scammers away from the industry. The biggest problem in my opinion remains the fake autotraders, scam signal sellers and shady unregulated brokers with funny names which should be avoided at all costs. We re expecting a brighter future and you can be a part of it, especially if you stop feeding money to the scammers ;. Pocket Option Review. Pocket Option is the new binary options broker that offers trading in its own terminal, social trading, quick withdrawal in various ways, etc. Broker Pocket Option Website URL pocketoption. com Founded 2017 year Headquarters Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands Support Types Email, Chat, Telegram, Website Feedback Form Languages English, French, Italian, German, Korean, Turkish, Malaysian, Spanish, Estonian, Indian, etc Trading Platform Author s platform Minimum 1st Deposit 50 USD Minimum Trade Amount 1 USD Bonus Deposit bonus Free Demo Account Open Demo Regulated Commissions Account Types Demo, Beginner, Beginner, Experienced, Master, Professional, Guru Deposit Methods Mastercard, Qiwi, VISA, Webmoney, Bank transfer, Cryptocurrencies, World, Mobile transfer, Yandex. Money Withdrawal Methods Mastercard, Qiwi, VISA, Webmoney, Bank transfer, Cryptocurrencies, Mobile transfer, Yandex. Money Number of Assets 100 Types of Assets Binary Options, Stocks, Indices, Raw Materials, Cryptocurrency Option Types Mastercard, Qiwi, VISA, Webmoney, Bank transfer, Mobile transfer, Yandex. Money Account Currency EUR, USD, GBP US Traders Allowed Overall Score 9 10. Still, is Pocket Option a swindle or a binary options broker worthy of your attention. We answer these questions in today s review. Pocket Option trading conditions. The Pocket Option Company offers its clients simple and clear terms of binary options trading. The broker has assets in his stock, the list of which includes both the most popular and exotic currency pairs, commodities gold, oil , cryptocurrencies, as well as a significant number of shares of American and European companies. The company also offers its clients the opportunity to use the complementary services of the website pocketoption. com, such as free signals, social trading, participation in tournaments. Also important is the fact that any client of the company who wants to get acquainted with the rules of service, can do it easily and simply by reading the Terms and Conditions. The well-designed interface of the website and online platform provided by Pocket Option allow any client to easily find the necessary information here. Intuitive web platform will allow you to make transactions without the need to learn its functionality. Moreover, the company offers its users the opportunity to use a demo account, which will allow the client to try his or her hand at it without investing his or her own funds, trading tips, and a training course on the platform binaries trading training. Pocket Option platform. The trading platform from the company Pocket Option is one of the most convenient among binary options brokers. It is an author s product that was developed and implemented on the platform of the company. Its convenience consists in the possibility of using the terminal in a web browser from any computer without the need to install additional software, and in the number of presented instruments, high comfort of working with them. One of the important advantages of the platform is the presence of a significant number of indicators for binary options compared to competitors, among which there are oscillators that open in a separate window under the main chart. Such a set of instruments allows the company s clients to perform their transactions more confidently, filtering the true signals from the market noise inherent in the market. Also, the Pocket Option terminal has a standard package of tools for graphical analysis, ranging from simple horizontal lines to the possibility of overlapping on the chart of Fibonacci levels. However, it is worth noting that, despite the convenience of using the web terminal, the client will need to provide a stable Internet connection in order to ensure that failures in its work do not affect the results of trading. Also, one of the important points is that the company offers binary options with different expiry dates from 1 minute to 4 hours on its platform. Such an opportunity can be used not only for short-term risk hedging when buying a particular instrument on the market, but also for long-term investments. Talking about hedging in more detail, it should be noted that such a strategy is considered to be a standard one for large management funds, which, by acquiring a certain asset, insure themselves by purchasing an option directed in the opposite direction. Of course, in such strategies large companies use real market option contracts.
Binary Options were introduced to the large public in 2008, scammers made wild promises and people believed them. The reason why so many scammers roam this industry is because it s easy for regular people to get into Binary Options you can open an account in minutes , so there are a lot of traders aka prey. Whenever there s lots of prey, predators will flock to the scene, trying to get a piece of the action. Whether you are a gambler, a trader or someone who never had anything to do with the financial industry, you can get into Binary Options with ease but there s one thing everybody needs a broker. This is where it all begins they will offer you an account manager, a bonus, insured trades, maybe signals, maybe this, maybe that. If you are dealing with a scam broker, accepting anything from them is a really bad idea. Beware Of Account Managers and Managed Accounts. So as I said, once you register with a broker, you will be offered an account manager. He will try to give you all kind of stuff in exchange for a bigger deposit from your part. He will give you the classic speech If you deposit more you can make more and you can manage risk better. He will probably throw in a bigger bonus incentive too, but everything you are offered comes with strings attached a bonus requires a turnover you need to reach a certain trading volume until you can withdraw your money so your money will be tied to that brokerage. He will say he is a trader for 20 years, tons of experience, tons of money made, tons of happy clients and that he will teach you how to trade. Heck he will trade for you, forget about teaching anything. My basic advice to all of this is don t accept a high bonus or at least go for one of our Recommended Brokers because their bonus conditions are fair , never deposit more than you want because your account manager promised you something and more importantly never invest more than you can afford to lose. I ve heard of people loaning money just to deposit more so they could get the VIP package and then the account manager traded the account into the ground. Don t be that guy. And don t allow your account manager to trade for you. If you don t know how to trade, don t trade. Learn first, trade after and never forget that your account manager works for the broker, not for you. Most of the times when you win the broker loses so why would the employee want to harm his employer. Even if you ve managed to escape the trap of the market-master-guru account manager who offers you bonuses and sells you dreams, you re not out of the woods yet because sometimes that account manager will offer you another thing a managed account. Yes, a twist of words and sometimes a way to twist your arm and make you do what they want. They will say something the lines of you sit back and relax while we trade your account, make lots of money and we will give you a monthly return. In this case you don t have to know anything about trading because they will not only give you trading advice, but place all the trades. It s just like the Blackjack dilemma you don t know how to play so you let the dealer play for you will he have your best interest in mind. Even if that means directly losing money from the casino s his employer pocket. Hmm, let me think about it NO. If you want to find out more reasons why going managed is not a healthy option for your money, read Risks of Managed Binary Options Accounts Revealed. Let s dwell a bit longer into the realm of managed accounts and talk about 3 rd party managed accounts. This one is the most terrifying in my opinion because this 3 rd party can very well be a scam. A brokerage has a reputation to maintain well, some of them do so they will not just wipe your account in a week and then shrug their shoulders. Now when it comes to 3 rd parties, you have to be extra careful who you are dealing with; they don t have to be regulated, they don t have to have a physical address, they don t have to give you their real name, so double and triple check whether you can trust or not that service. Most importantly, never use wire transfers if you are dealing with an unverified service. A credit card can be charged back sometimes but a wire doesn t. Be extra careful when dealing with 3 rd party managed accounts. The Signal Provider AutoTraders Shuffle. When binary options as we know them today were born, along came a great evil the scam of the signal providers, autotraders and all sorts of trading bots. These guys will tell you to trust them because they will give you super-extremely-magnificently accurate trading signals or even software that trades for you and does all the hard work. Sounds too good to be true. Maybe because it s not. Sure, among these service providers and software sellers you will find a few good guys, but you have to choose wisely who you trust because most of them promise you the world, saying they have found a secret formula to trade and make millions, they have a mammoth in the next cave you get the picture. I ask you one question why would they sell a money making machine. Out of the kindness of their heart yea, sure or because they need money. But they have the Holy Grail of trading why would they need money. The reason is much simpler than that what they are selling is not as good as they want you to believe, so simply don t buy it. We ve covered this subject in more detail in the articles Signal Service Providers Know How to Avoid Scams and Resentments and Binary Options Robots Is it a Scam or Should I Choose the Robot. Read them and avoid getting scammed. Got Regulation. You want to decrease the risk of Scam you have to deal with regulated brokers. Trading with a broker that is not regulated by a financial authority is like going outside when it s cloudy without an umbrella. Does it mean it will rain. Nope, but if it rains you will surely get wet. Your broker s regulation is your umbrella; it protects you against scam but hey, if the summer rain turns into a storm, that umbrella won t do you much good anyway. In other words, regulation decreases the risk of scam but is not 100 bulletproof. A good trader is an informed trader and that s why I urge you to read this complex article that covers many of the questions you might have regarding regulation Binary Options Regulation Everything you need to know. I am not saying that you won t run into any problems if dealing with a regulated broker, but the risk is decreased and besides, if something happens, at least you know who you are dealing with and you have the option to file a complaint with the regulator. If your broker is not regulated, you don t know their address and not even their company name, who are you going to complain to. Who are you going to sue. To avoid scam, you need to know who you are dealing with. It s common sense. If they don t give information about themselves, why would you give them money. However, the lack of transparency is likely to come to an end because recently we ve seen a lot more activity coming from the regulator s part in the past CySEC was more like a rubber stamp but lately it starts to be more active, issuing warnings and even fines. Moreover, other regulators step in and nowadays we are seeing more than one authority working to make Binary Options safe CFTC and American authorities have radically improved the safety of US citizens with strong warnings, FCA UK has already started dealing with binary options regulation and I believe we ll see even stronger UK rules in the future. Local agencies France, Italy, Germany, and more have already started working on local rules and regulation. Bottom line is the authorities recognize the problem and are working on fixing it. Things can only get better from now on. Don t Give Trust Lightly. Before investing in a signal provider, bot autotrader or depositing with a broker, it s wise to read reviews online. But be careful because not all websites have the reader s best interest in mind. I don t want to point fingers or anything but when you see stellar reviews of brokers that are known scams, you have to wonder if that review website doesn t have a hidden agenda. So my advice is to read more than one review and if one website says broker X is the best while others give bad reviews, just beware and turn to real traders for advice. And if you don t know where to turn to real traders, I have the perfect place our Forum. Open a thread if one doesn t already exist and simply ask the crowd. Totally Eradicating Scam Is It Possible. As much as I would like to see a binary options world without any type of scam, I know that s not possible. As long as money will be involved, scammers will try to profit from gullible traders. Tune in to our monthly binary options scam watch for evidence. Question everything, don t accept free lunches or things that sound too good to be true. Learn to decrease the risk of being scammed because trading the market is tough enough on its own.
Boxed System. A boxed system is one where you don t get to know how the strategy works it s an opaque black box. For example, the product may just be a series of indicators or a service that tells you when to trade, but not why. This isn t going to make you a better trader, because you don t know what is happening behind the scenes. If a product or signal service stops operating you are left with nothing. Even if you made money with the product service you have to start from scratch all over again. Make sure if you buy something it explains how it works, so that eventually you don t have to rely on the product service. Extremely High Win Rates. Is it possible to have a 90 win rate. Absolutely, yet it is also possible to lose money with a 90 win rate. Stats are easily manipulated to tell partial truths or fabricate lies. Other popular tactics are saying things like Made 500 in one day. That doesn t actually tell you anything. If that was on a 1,000,000 account then making 500 isn t so grand. And if they lost 3000 they day before, then making only 500 today and bragging about it is rather paltry. Read between the lines. What isn t being said. To understand performance you need several bits of information Account size capital , percentage return, amount at risk on each trade, amount of profit per trade, win loss ratio, biggest winner, biggest loser, average winner, average loser, number of trades and period over which the strategy was tested profitable. There are also some other metrics that could help you out, but if you ask the company for these bits of information, and they can t or won t give them to you, be suspicious. You can usually get a sense of what vulnerabilities and tendencies a system has by looking at the above stats. One of the main things is that the strategy should be tested over a long period of time, and in all market conditions up trends, down trends, ranges, volatile and sedate conditions. It doesn t necessarily have to profitable in each of these environments, but it should have at least been traded through them all so you know that the system is profitable overall. Often marketers will only publish results for a period where strategy did very well. But this doesn t give you a real idea of how the strategy or system works over the long-term. Related to stats there is something else you need to consider. If a system is profitable, that result is based on all the trades. If you buy the product or the service, are you going to trade them all. On issue many traders face when subscribing to a signal service is that they don t trade all the signals. If you don t trade all the signals then your personal results could be dramatically different than the typical results of the service. Only One Direction. Avoid a system that only trades in one direction, for example only buys assets but won t short sell them. Markets rise and fall, you want to participate in both trends. No Trial Period. You should be able to test a product and be able to cancel without a fuss if the service isn t for you. Usually a quick trading forum search on Google will reveal what others have shares about a product or service. No trial, no deal. Don t trust anyone, test things out for yourself. If they won t let you, then be wary. Final Words on Identifying Scams. A product or service shouldn t make you reliant on it. It should show you behind the scenes so that eventually you can trade on your own. Good products will always have customers since there are people who don t want to do the work themselves, and there are always new traders. There is no reason to make every customer totally dependent. Be wary of stats that are thrown out. Ask yourself what the stats aren t telling you. Also, if the stats they provide are legitimate, then you ll need to trade all the signals to take advantage and get results typical of the service. Of course remember though, past performance is not indicative of futures results. That is way it pays to do some homework, and make sure the strategy system service product is based on a long history, and has proven itself profitable over all types of market conditions. Test out a product system service before buying it. If they won t let you try, be suspicious. Case Study JV Affiliate Marketers. In this section we will look at how you can avoid being scammed by Binary Options JV Affiliate Marketers. Its not so hard, but requires you to let go of your emotions and examine things in a logical manner, as many of the scammers use emotional greed fear tactics to get your money. Once you understand this you can quickly and simply save your time and money with these unscrupulous dolts. Some scams are simply comical in how stupid they are, while others can be very well done con jobs that lure you in with seemingly genuine people systems reviews which later you find are the exact opposite, as you look at your 0 balance wondering Where did my money go. As you will see in the numerous scam videos, all you have to do is NOT DEPOSIT then these scams no longer work. So next time you see videos that are of a similar nature, just know they are supporting scam systems marketers. Understand if they require a deposit they are fly by night and even if they were not they are supporting the scammers by the nature of requiring you to deposit with a new broker. So just refuse to deposit and they go away. Not the same stories kind of stories and promises over and over all to get you to sign-up to their free system bots They are not free you have to deposit and they get paid on those deposits So remember limited time fast money can t lose. just fund your account don t do it. In this image above you can see many of the scam systems are connected to each other on the same servers most often. These JV marketers have tons of these turnkey scams as they are very low maintenance. The reason you see so many of them is after a few weeks of the new story line wares off and becomes boring they will start production on another one and keep it all fresh and new thus avoiding the wrath of their old scams being complained about and those complaints shared with others. If they keep it new they avoid this along with the fact most newbies jump from one scam to another hoping one of these will work, which none of them do because trading is a learned skill job So again, understand their stories and how they work, and don t deposit. Case Study Scams on Social Media. Social media is a perfect platform for scammers and can be even more insidious and convincing, and unlike the JV marketers these people will talk to you directly, but only to a point. Once they figure they can t get any more from you or you no longer have value to them, they will un-friend you in a heart beat. The one thing they are all after is your money, so be on the look out for them asking for deposits or sign-ups telling you about amazing profits and opportunities, which will have you end up with empty pockets. Videos such as those used with both The Green Room and FB Wealth Group will pretend to be traders friends, while they are really just out to get your money through either signups or even trying to have you pay them directly. Also if you see them mention anything MLM Multi Level Marketing related, they are trained to lure you in, so run the other way. These people don t play around and will say whatever is needed to get you to sign-up and invest. There is a 45 minute long interview of a person that was scammed by both The Green Room and FB Wealth Group. We named it Binary Options Horror Story because that is exactly what it is in all its gory details. If you are new to binary options read, and absorb the above warning signs fully to see how they scammed people out of their money so it does not happen to you. Notice also how the worked with the brokers directly, which implies that they can be directly involved as well. Scammers will repeat the common element of wanting you to deposit or even asking for money directly and from there you can tell them no thanks and make sure to unfriend them. How To Avoid A Binary Options Scam. Is it a secret that the Binary Options industry is pestered by scammers. I don t think so. Even if you are new to this, you ve probably heard about some guy wanting to share an extremely profitable way of making money or a special trading bot that will make you thousands per day on autopilot of course or a guy who wants you to follow his signals that will supposedly make you rich. And if you re old to this oh, then you surely know all about the brokers tactics to get a hold of your money and never let it go here, take this highly experienced Account Manager and let him bust ahem I mean trade your account. When you are getting close to zero balance, don t worry, we will give you a huge bonus so you can trade some more you ll get your money out by the year 2057, but they ll leave out that part. Unfortunately, scam is present in this industry and we cannot eradicate it completely, but we can find ways to decrease the risks considerably. A History of Scam Where It All Began. Two hundred thousand years ago, two Homo Sapiens talking. Give me a piece of your meat now and I will share my mammoth with you. I have it in a cave nearby but I am too hungry to get there. Ok, I will trust you. Have a piece. Now let s go get that mammoth. Oh, you actually believed me. There s no mammoth. That s how scam was invented don t take my word for it, I wasn t there and believe it or not, the structure remains the same to this day a wild promise is made and something is asked in return.
Banc de Binary Beeoptions Binaryinternational. com Brokeragecapital. com Bull Option OptionRally Option-World Safe24Option TraderXP Vault Options NYStockOptions. com CryptoTradefx360. Robot And Signal Scams. These signal providers, or robot services, are either scams or not recommended for other important reasons. 650System ATARAXIA 7 Binary-Option-Robot Blackrockbotr. com Faunus Analytics FB Wealth Group John Anthony Lone Wolf Signals Michael Freeman s Autotrader Paul Applegarth s Oneclick Autotrader Profit Binary Signal Index TheBinarySignals. com The Green Room The GCAD Indicator From ITM Financial ZuluTrade. Instagram And Facebook. Beware of scams operating on social media. Again, binaries are not a get rich quick scheme. There are a huge number of accounts promising to trade on your behalf and turn 2k into 8k in a week. If these claims were true, the people behind them would not need to be running ads or signing people up they would simply trade themselves. Screenshots of successful trades are exceptionally easy to get even genuinely. But these operators are unlikely to even bother trading once you send them money, it is gone and you will not hear from them again unless they think they can get you to deposit more. Always select your own broker, and always take responsibility for your own trades dont let someone else trade on your behalf. If you do not understand binary options, or do not have time to trade then do not trade at all. These scams often prey on people who lack experience. What To Do If You ve Been Scammed. Do you think you ve fallen prey to a binary options scam. Read on to find out what you can do if you ve been scammed. There are many ways to help ensure that you don t fall prey to a scam but the reality is that even if you follow all those tips there is still a possibility you will be scammed. If that happens, what do you do. Do you sit back and take it. Do you give up on trading. No, you need to stand tall and look out for yourself. Trading is good, it is rewarding and can lead to a life in which you don t have to go to a job and punch a clock. You can t let the actions of one broker, signal service, robot or guru dissuade you from that path. This article is a look at what you can do if you think you ve been scammed. It s likely that once an issue arises you won t be able to get your profits, it is possible to get back your initial deposit but it might take some work. com are a firm specialising in helping victims of binary options fraud. They help claimants to explain the incident to the bank or credit card company, so that they fully understand what has happened. Some banks are unaware of binary trading and are unwilling to listen to claims. MyChargeBack help in this situation. They have a solid record of recovery from genuine claims. If you are not yet looking for third party help, here are some steps you can take yourself. Document everything. The very first thing to do is to make records of everything you can. This includes the brokers, or SSP s, terms conditions, copies of any emails Skype live-chat you have had with them, confirmation of your deposit, turnover requirements for bonuses and your trading history. No matter what you do next, this information will be required in order to get satisfaction. What you do next will depend on the type of scam you have fallen prey to. Try to withdraw. Broker won t let me withdraw. Contact the broker and try to find out why they won t let you withdraw. The most usual reason is that you ve not sent in the right ID documentation, something required by international law, and is an issue easy to fix. The next most pressing reason why withdrawals are not allowed is due to bonus terms and turnover requirements. If you haven t met conditions you will not be allowed to make any form of withdrawal which is why you want to keep track of all your trading volume and turnover. If you didn t accept a bonus in the first place your documentation will help you prove it. A good broker will try to solve your issues, a shady one will give you the run-around. Make your voice heard. Broker keeps giving me the run-around. If your broker is giving you the run-around and won t address your issues the next best avenue for satisfaction is to let the community know what is going on. After all, it is the squeaky wheel that gets the grease. You can do this by posting complaints, with details, in forums like the one here at Binaryoptions. When you do this be sure to let the broker know and send them a link. They may not care, a sign of a shady broker, but when it comes to reliable brokers they will want to address your problems to avoid poor publicity. When posting complaints give as much detail as possible, just saying that a broker scammed you is not enough, proofs of fraud are what get results. Contact their payments provider. The broker won t help, now what. At this point the chances that you have been scammed, and not just suffering from miscommunication, are quite high. If you can t get satisfaction from the broker you will have to take more drastic measures. If you deposited by credit card this may mean calling the card company and requesting a charge-back. Let them know the initial charge was fraudulent and that the company in question is not returning your contact requests for best results. The Times Of Israel reported that a victim of fraud was able to get a full refund of his deposit after contacting the financial institution that processed the brokers payments. They withheld payments until the broker satisfied the claims. Contact the regulator. Time to call out the big guns. The great thing about expanding binary options regulation is that there is an alternative for many traders who think they ve been scammed, you can contact the regulator. In some cases this can be a challenge as many brokers are located off-shore and hidden behind holding companies and virtual offices so be sure to do your homework. If the broker is regulated contact the agency overseeing them, if they are not regulated contact the agency which oversees financial regulation in your country. If the broker is regulated they will have to address your issue, to the satisfaction of all parties, in order to remain compliant. If they are not regulated at least you can be assured at least they will have a harder time scamming any more people from your country. At best cooperation between regulators could result in the broker being shut down for fraud. Be persistent. Shady brokers like to hire people who are good at deflecting questions and complaints, don t accept what they are telling you. It may take time but eventually you will talk to the right person, or persons, and your case will be addressed. What is most likely to happen is that the combination of your contact requests, forum complaints and charges with regulators will add up to one thing, the broker giving you your money back to avoid a much bigger hassle. How to Spot a Trading Strategy Scam. The internet is loaded with ads, articles, companies and individuals trying to provide you with the next big trading strategy that will make you rich overnight. Take pause my friend, here are tips to help you spot the scam. A System or Only a Strategy. First and foremost, trading strategies aren t really going to help you become a good trader. What you actually need is an entire system. When you make a trading plan it needs to cover how you will enter markets, exit markets and how you will manage your money. It also needs to tell you under what market conditions you do all these things. That is a system, it tells you everything you need to know about how you will trade. A strategy on the other hand only tells you when to enter and exit, and may not tell you under what conditions it works best or poorly. It also may not provide guidance on position size or whether you can trade multiple assets at the same time issues which are very important to address. In other words, a strategy may have missing pieces of information you need to be successful. We need a complete trading system but marketers are smart, so they can easily just call the product they are selling a system to make it sound more complete. Here are several things to watch for which could tip you off the product is probably a waste of money.