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?
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?
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.