Binary options are luring traders from traditional markets. The reason behind it is very simple. There is a general perception that it is easy to earn plenty of money in this type of trading, and such money could be earned faster.
As more and more traders, including small time players, have started turning towards this lucrative way of earning, websites offering binary options trading reviews have also come into the picture.
But Should Trust The Binary Options Trading Reviews?
Information available in Binary options trading reviews
The websites that offer such reviews seem to offer crucial information about binary options trading sites such as:
A- Is this broker regulated and does the broker hold a license?
B- How much is the minimum deposit required?
C- How are the “in the money”, and “out of the money” for this site? What are the expected returns from the site? This varies as per the platform and other hardware as well as software being used.
D-What are the expected returns from the site? This varies as per the platform and other hardware as well as software being used.
E-What type of platform do they offer for binary trading? Does it have robotic execution or indications, or does it use the signal?
F- Does the site offer any bonus? If so, how much?
G-How do users rank the site, and how many users have ranked the site so far?
H- Where are their offices located?
I- What are their phone numbers?
Click here To Join #1 Rated Affiliate Program
It may seem to be comprehensive information, but it is not. These binary options trading reviews are silent on many things.
For example, these review sites do not mention details of regulatory authorities under whose jurisdiction the broker would come, and do not give any way to approach such regulatory authorities.
Many of these reviews are also not updated periodically.
They offer the link to the respective “Binary options trading” broker’s site, but the binary options trader would need to do a lot of homework.
For example, when did the broker launch the site, has the site been paying, are there any grievances, etc.
Effectively, the trader does not get much information from the binary options trading reviews available online.
But the growing concern about these reviews sites is that they fail to spot scams.Read more here
Scams And Binary Options Trading Reviews
The rating is obviously based on users. But are the users authentic? Here is how a binary options trading scammers operate:
1. He or she creates an attractive website portraying that he or she is a licensed binary options broker.
Are binary options trading reviews verifying this information? No.
2. This scammer writes a software program that comes up with trading signals.
That is not a very difficult thing to do.
Many trading signals generating software programs are available in the market.
The scammer merely has to rewrite the program or even use any one of the available free tools. Review sites do not verify such things and have no comments to offer on software program of the scammer;
3. The scammer begins advertising the trading platform and the software program.
There is no compunction in using fake testimonials and coming up with many names.
Review sites do not confirm the true identity of the person;Read my older post about fake reviews
4. Scamming site wipes out the initial deposit and soon asks the trader to invest some more.
Want to Make Money with Your Own website?
Conclusion:
The binary options trading reviews cannot be relied upon to give the accurate rankings to the binary options trading brokers. While some indications may be right, a lot of homework is still needed while selecting a binary options trading platform.
While some indications may be right, a lot of homework is still needed while selecting a binary options trading platform.
In addition, the trader also needs to be familiar with binary options trading transactions, and signals to differentiate between a reliable broker and a scammer.
Binary options trading is not for everyone,you can have more success creating your own website and selling other people’s products, it`s free to get started so put your credit card away.
Hi there. I just finished reading your article about binary trading reviews and thought I would just drop you a quick comment to offer my thoughts.
Recently I have seen lots of binary trading platforms being advertised. I don’t get involved with them now because I have had nothing but bad experiences. From what I have seen, binary trading must be one of the most risky ways of making money online.
You really can’t trust the binary trading websites, brokers or online reviews. I have yet to find a single legit binary trading website that offers genuine advice and i personally think that the brokers are out to make as much money as possible.
I personally would trust anything to do with online trading as I have lost quite a bit of money in the past.
I just finished reading your article on binary options trading. Very interesting. There seems to be so many scam sites offering automated software guaranteed to be ninety-five percent accurate with their results. There is no way you can lose, Just hand over $250 and you’ll be making thousands by the end of the week. I don’t know why everybody isn’t doing it.
Thank you
Allan
Hello Alan
I think it has to so with greed,there is no money machine out there,for Binary options trading or otherwise.These are scammers looking for people willing to part with money.If it were that easy,im sure we`d all be doing it.
Wow I am so glad that I just ended up on your website. I recently came across a site where they apparently teach you how to start trading and also how to make a lot of money doing so. I have been quite skeptical because I have been scammed so many times before. Thanks for the great info, I will definitely have to do some more research before I make a decision to join them or not.
Hello Joe,
Binary options pull a lot of people in,what with the promise of quick and easy money?There is no alot of money to be made anywhere,if there was, we`d all be rich dont you think so?
This is a very useful post. At one point in my life, I was lured into binary trading myself. The promise of a quick buck and the “ease of use” of binary trading option software they are offering really pulled me in. It was a tough experience, but I learned a lot from you.
Your post should be spread out to help other people who are thinking about going into binary trading, it’s a slippery slope. Thanks a lot!
thanks for stopping by, like you, l too have lost money to Binary options and l felt so stupid,but it`s a learning curve,l learned something and l dont want people experiencing the same as i did.