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Binary Options Scams – Some Service Providers are Staining the Whole Industry

Slowly but surely the binary options industry has begun to purge itself from the scam brokers and service providers who illegally solicit their services to investors around the world although they do not have a license to do so and are not regulated in that country. 

Binary Options Scams


Unregulated Waters

One of the biggest problems in the binary options industry is with binary options robot providers and trading signal providers. These two services are unregulated and some marketers are building websites and landing pages overnight and successfully taking money from innocent investors, while selling them a product that is pretty much just a piece of garbage.

Scam Binary Options Signal Providers

We have seen many binary options signals exposed as scams and nothing more than rubbish being sold to investors. Sell or Buy live signals sent my SMS or email alert that are nothing more than an un-educated gamble that bring mostly only loosing trades to investors. Being able to predict the markets is something that only a professional can do and it is not cheap. Some signal providers that turn out to be scams are selling garbage signals online, that will only bring winning trades if the investor is, well, extremely lucky.

Scam Binary Options Robot Providers

Writing a program that hits PUT or CALL randomly is very simple. A true robot that uses an extremely complicated algorithm that makes thousands or even hundreds of thousands of calculations per second is something that takes years to develop, code and implement into a working system that can be integrated into a trading platform.

On the other hand, writing a few lines of JavaScript and PHP code that randomly hits the PUT or CALL buttons is easy, especially now with PHP not being shown to the website user, a robot user will innocently never know that the robot he is using may just be a few lines of simple PHP code, even if the user checks the code in their browser they will only see HTML.

Scam Binary Options Brokers

There have been tens of thousands of complaints to the various financial regulators around the world, about brokers soliciting clients and duping them into believing that they were a big time broker on Wall Street with a "no risk" plan and ways of doubling an investment in less than a day.

Scam brokers have been known to take the clients deposit and place a couple loosing trades within minutes of getting the deposit money and successfully getting away with tens of thousands of dollars lost by the investor within a matter of minutes. After scamming a few dozen investors the broker shuts down their website and gets away with all the money far before any regulators or investigators can even look into their bucket shop.

It is unknown exactly how many binary options scams are running and duping people out of their hard earned money at this very moment, but you can rest assured that they will all get caught eventually, either by regulators or by investors looking to sue them or by any other method of closing down and punishing a scammer.

Most scammers eventually get caught!
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About Online Trading Signals

Donald Wilson is a Forex and Binary Options Trader - Donald writes about forex and binary options brokers, trading platforms, tools, software, such as robots and trading signals. Remember that online investing and trading is risky specially with binary options and also forex.