Perhaps one of the most troubling aspects about the binary options industry would be the constant onslaught of binary option trading systems that are designed to deceive innocent newbie and experienced investors out of their hard-earned money. Not only does this extremely discourage most newbie binary option investors just looking to supplement their income online from home but it also ruins the credibility and image of the binary options industry. One truth that I’ve learned over the past five years would be how getting scammed is almost a rite of passage. Now, usually it only takes one time to learn your lesson but if you are an optimistic individual such as I am then perhaps 3 to 5 times is closer to the actual number. Below are five tips that I implement prior to signing up with any binary options auto trader, system or software that I think you can greatly benefit from!
One of the quickest and easiest ways to tell if a binary options trading system, software or service is a scam would be to check and see if they offer unrealistic guarantees. More often than not the binary option trading systems, software and auto traders that offer completely unrealistic goals such as generating over $100,000 per week or one million dollars per month are complete scams that are designed and geared toward deceiving newbie investors out of their money.
Another method to determining whether a binary options trading software, system or service is a scam would be to check to see if the domain creation date reflects accurately into the marketing practices of that system or if they match in accordance with the promised start date of the investing opportunity. So for example, if you come across a trading system that has a domain that was registered on January 8th, 2017 and the system claims to have achieved a cumulative success rate of 85% over the past two years along with over $2,000,000 in profits, you can insinuate that something fishy is going on there and determine that things are not what they seem! You can check domains at www.whois.net.
A third way to determine whether an auto trader or a binary options system is a scam would be to see what brokers they are working with. If the system is only working with binary option brokers with a notorious reputation you can assume that the system along with the broker itself is probably not the best choice for you. One truth to keep in mind would be that your binary options trading software is only as good as your binary options broker!
Another tactic that we implement to see if a binary options trading software is a scam would be to see if there are any ridiculous marketing widgets that are implemented into the framework of the website. The three most common marketing widgets that are implemented by scam marketers would be widgets that include: Available Spots Left, the backward countdown timer and an accumulating calculator that reflects the amount of “profits” generated by the system in question. Funny thing though that with all of these widgets if you were to exit out of the system you were researching, clear your cookies and revisit the website all of those widgets would reset to their originating value.
Probably the least overlooked method to determining whether a system is fraudulent or not would be to further research the legitimacy of the system by checking out with us. Since we receive hundreds of emails per day from traders all around the world, we know EVERYTHING, so to speak, and can usually tell you whether a certain broker or software is getting a lot of complaints from other traders.