Spotting a scam in the binary options world is easy as long as you know where to look. To make it easier for you, we will list a few things that will help you to separate good and bad brokers. Many of these things apply to other sites and software in direct or indirect connection to binary options trading.
Binary options software, as well as a web page, must be owned by someone. If you have problems with finding the name of the owner, then you should start asking questions. The owner should be forthcoming with this type of info. If they are not then, it means that they have some things to hide. You shouldn’t deal with that kind of people.
Next tip is not about brokers, but systems and software that help with trading. Such software should have an option that shows you the trade history. Without the trading history, you have nothing that will prove that the system works. Many inexperienced traders fall for “90 percent of the trades with our system resulted in win”. This is just a statement, which may be true or false. Trading history contains everything about the trades, the time, and the amount of money, entry and exit data and so on.
Whenever you receive an offer in which the person or the company states that you can earn a degree of money in a particular time frame, you should turn their offer down. No one can guarantee you exact winnings in the exact amount of time. Those that send you this kind of offer want to use your lack of common sense against you. Be smart, avoid those offers and save your money.
Binary option reviews are littered with people whose job is to write either negative or positive comments. But if a broker, software or a system has negative comments on multiple sites then you should avoid them. Bad reputation can’t be achieved through people that are paid by the opposition. A bad reputation is earned by doing evil things in which case every trader will write something bad about their bad experience.
No software or system can achieve 100 percent win rate. If someone advertises their system with this kind of reassurance, then avoid them and their system (software). This also holds water for those who advertise win rate over 80 percent. Every form of trading has a factor of randomness and no matter how certain a trade is a random event can change the outcome. Top 10 Binary Demo about factors that influence binary options trading.
If a broker, system or software has no reputation then you should be wary. Lack of status may mean one out of the two things. Either it is a new thing on the internet, or it exists for a long time, but no one uses it. It doesn’t matter which one of those two is correct, avoid it. You should stick with systems, brokers and software that has a good reputation, and nothing less than that.