How to recognize scam in binary options sites

By BinaryOptions On January 31, 2012 Under Binary Options - Advices & Tips

85% gain in one hour, could say no? You must be bombarded with proposals for binary options broker if you are interested in online investing. Well you plan to open an account before you can also take advantage of these opportunities for gains but at the time of registration, a likely holding you back: what if the site you want to register was a scam? It’s actually a good question to ask.

Try in the following article to see how to recognize scams in binary options brokers

1. Everyone has the right to ask questions:

Unlike the Forex market that is well structured and works for a long time, the binary options is relatively quite young and not yet controlled: indeed, either in France or elsewhere in Europe, brokers binary options are subject to financial authorities – that is, unlike Forex brokers, brokers binary options are not accountable to anyone.

2. Precautions to take to open an account:

Read the terms of use of the broker with whom you want to open an account: some clear they do not use quotes in real time! In this case, beware!

Prefer a broker who is also active on the Forex and have it for an approval of the financial authorities is a more reliable and more!

Open an account with a broker known and everyone is talking and not a site that offers conditions that seem extraordinary welcome.

3. The recommendations to follow to choose a broker:

Follow these tips common sense you will avoid losing money:

- Browse the forums and read the advice from other users. Be careful, because they are often dissatisfied users (and often those who have lost their money due to a misunderstanding or a wrong analysis of the markets who complain).
- Start systematically send an email to customer service to see if you meet and how they do it. Remember to test their platform chat to see if customer service is responsive and present.
- On your first deposit, use a small amount and do some testing. The most important test is the withdrawal of earnings, if this goes well, there is no reason to hesitate.

Follow some common sense rules will avoid disappointments often when you open an account to trade binary options. Remember to read the terms of use on which you want to register. Sometimes it will make you change your mind.

3 Comments Add yours

  1. Stephen
    May 9, 2012
    11:03 am

    This site too is a big scam, optioncentre.com . After investing and trading with them for weeks, I requested for withdrawal and upon that my account became inaccessible. On contacting their support email, they speculated it was due to my fraudulent action and reffered me to their terms on their site. Now I know I had not done anything wrong. I should have been more alert

    • Florin
      May 25, 2012
      11:15 am

      I am courios how much money you lost. I personaly lost 1900 Euros, and I am interested to do something about this.

  2. Florin
    May 25, 2012
    11:14 am

    It is a scam! Be carefully!
    I had an account with Bocapital. In the begaining they said to me that there is no spred, then after I made some money they added a 12 pips spred on EUR/USD and made it imposible for me to win. I recognize that, I stoped trading digital and start to trade range options. At the begaining I traded range options with max 100 Eur/per trade and then they limited me to 10 Eur/trade. And everyday they said to me that they will talk with the technical support and they will solve the problem and so on. Lies, lies, lies. I tried to withdraw all profits and only the deposit and 50% of profit I could withdraw. After this they close my account with no reason and they told me simply that our relationship is over and that was it!

    Bocapital is not the company to invest money if you want to make money from this industry.

    It is a scam!

    Avoid Bocapital! Thare are other big companies wich respect you a lot(for example 24options.com, bdbinary.com).

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