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How binary options traders are scammed

How binary options traders are scammed

If you have read the previous articles of this training course, then you perfectly understand what exactly binary options brokers earn on. I'll refresh your memory - BO brokers profit from the losses of their clients.

The statistics are such that about 95% of all clients of binary options brokers have always lost and will lose. Most of them came for quick money and do not want to study this profession for a long and tedious time, someone simply did not have the strength and patience to succeed.

The number of clients of binary options brokers is constantly growing, which means that the number of successful traders is also growing. Traders who once drained their deposits eventually start trading at zero, and then they start earning at all, returning all their losses. For BO brokers, this, of course, is a shock - the very client who consistently fed the broker suddenly began to take away bread. Who will put up with this?!

how to cheat on binary options

Binary options brokers are more greedy than we can imagine. Of course, they do not want to return money to traders who were already 90% in their pocket. But how to deceive your client and not worsen your reputation? There are "white ways" to get rid of the client. It is about these methods of deception that we will talk today, and I will also tell you how not to fall for the tricks of brokers and people interested in losing your money.

Initial misconceptions of a binary options trader

Binary options brokers have learned to manipulate immature minds a long time ago. Where one method fails, another will surely work, and you will still fall into the trap. Initially, their future clients are instilled with information that Binary options are:
  • Easy (no knowledge required)
  • Profitable (increase your $1,000 by $800 in just one trade)
  • Fast (earn in one minute)
At the same time, many binary options brokers have written in the FAQ that they earn from trading turnover, and not from draining traders' deposits. In general, they are white and fluffy, and everyone around is bad.

How does a binary options broker make money

But in practice, a binary options broker is very much interested in draining their clients' money, so the following tricks are very often used:
  • Advertising with elements of lies or partially hiding the truth
  • Fantastic success stories of Uncle Tom, a shepherd from the outback of western Hungary
  • A unique training material that will make you a financial professional in 3 hours
  • Various fraudulent actions against the client
The most interesting thing is that you can not even hope for the help of managers or other persons working for a broker. Almost all educational materials will only tell you how to use the broker's trading platform - fund your account, make a deal, you can go replenish again.

But then they talked about easy and quick money? No? They spoke! And they will continue to talk - it is beneficial for them. This is evidenced by advertising, even the managers themselves who call to “say hello” talk about it. They offer you their help... Ridiculous - help from a company that is interested in your drain.

Who do you need to be to believe in the good intentions of the broker and the persons who represent him? Well, if you still believed, then only you are to blame.

There is no easy money in binary options trading, and there never will be. Even for an experienced trader, making money like this will never be easy - it's what he deserves by spending a huge amount of time and effort learning to trade. And it was not at all easy, as binary options brokers say.

Binary Options Broker Promises You Can Never Believe

Fortunately for us, the peak of popularity of Binary Options has passed, which means that most brokers work according to white schemes. They are well aware that 90% of traders will lose their money themselves - so why bother them and get their hands dirty?! It is better to leave them alone and wait a bit, the result will not be long in coming.

how brokers cheat on binary options

But greed is greed. There are still such brokers who have not been able to adapt to the current realities - they plan to make a profit from almost all of their clients. To do this, they use various methods that, at first glance, seem harmless.

What threaten the recommendations of managers and financial analysts in Binary Options

You registered with the broker, indicated your mobile phone number, and then it started - the manager of the Binary Options broker is already calling you, with stories that you are very lucky today, as they have a unique promotion with fantastic conditions. Only today and only for you!

The managers of any binary options broker are trained to inspire us with unnecessary promotions, bonuses, offers. They may seem very profitable, but never did a binary options broker give something for nothing to their clients. Everywhere there are pitfalls or hidden intent.

There are still cases (very often) when the manager of a broker you have never heard of calls you. Moreover, each of these managers has an unrealistically cool method of earning billions, which he is ready to share with you. But for some reason he himself sits in the office and earns his $ 1-2 thousand. You can safely send these managers (and their brokers) on a hiking trip to a settlement in Peru:

where to send annoying broker managers

They need you! More precisely, they need your money, but you do not need it at all! And what is this mega-popular broker that does not have enough customers?!

In general, managers are called upon to prepare you as much as possible for the drain and get as much money out of your pockets as possible. In fairness, it is worth saying that there are very good brokers who maintain a whole staff of managers who will never be the first to call and, moreover, will not inspire you with unnecessary rubbish.

But what about financial analysts? Imagine this picture - a person who knows how to trade professionally will work for a broker 5 days a week with full employment, and receive the same 20-40 thousand per month. Funny! Even I, having far from the most professional trading skills, sit at home, trade when I really want to and get 300 thousand a month.

Any professional trader will not become a financial analyst of a Binary Options betting broker! It's like giving up a Mercedes in favor of a Cossack. So who are these very financial analysts of the broker?

Most often, the same managers of a binary options broker act as financial analysts. They have their own specialty - they do not know how to trade, and they heard about profitable trading only by hearsay. Do you think it is worth trusting the advice of such “traders”? And give them your trading account for trading?

In the best case, you will simply be fed “advice”, in the worst case, your entire trading deposit will be drained. So never listen to the managers and financial analysts of a binary options broker, you are on the same side with your success, they are on the opposite side.

VIP account and professional support from binary options brokers

VIP account is an account with improved trading conditions. But at the same time, this account is provided only to wealthy clients. Kind of a way to get more money out of you.

Along with a VIP account, binary options brokers offer their clients professional support from their side. But brokers do not have professionals, and never have. And where do they come from? The cost of paying professional traders can take a huge chunk out of a broker's profits - does it make sense to reduce your earnings in such a ridiculous way?!

VIP account in Binary options

But why bother? You can always tell a client about the presence of professional traders who, over 25 years of their lives, have 28 years of trading experience (yes, they traded 3 years before they were born) on Binary Options (despite the fact that BO, as a separate financial component, appeared just 11 years ago). Is this someone going to check? Especially if the client himself does not know anything about trading, then for him a professional trader is someone who is able to draw a couple of lines and levels on a price chart.

If you look from the outside, the scheme is very simple: the broker’s client is told to open a VIP account (and it is available from one to twenty thousand greenbacks, depending on the broker), and the “professional trader” tells the client how to quickly say goodbye to this amount. Think it doesn't happen? It happens, and regularly. People lose very large amounts by listening to "professionals" - 50-100 thousand dollars each. Without a fool and life is bad .... The question is, where does the fool get such money from ?!

Binary options broker earnings

"Bring your money - I'll take it away and put it in my pocket!" - something like this should look like a real ad for binary options brokers. Would you buy into it? Of course no! Therefore, brokers have come up with a very cunning way to mislead people who are not familiar with trading - they tell stories that:
  • Earn a certain percentage of the trading turnover - the more you trade, the more the broker earns
  • Earn from putting your funds into investments
I wonder how much turnover binary options brokers earn if not a single transaction enters the real market? In fact, all the money is spinning only within the brokerage company.

How do Binary Options brokers make money

But brokers really earn money from investments. But this is not their main income - they receive most of their profit from draining customers. In general, binary options brokers are ready to hide their real origin by any means. They are accustomed to inspire us with false information that:
  • They bring trades to the real market - not really
  • Earn from the turnover - all brokers earn from the losses of their clients
  • They are brokers - in fact, these are bookmakers and all trade is a betting on the price direction
  • They are a real market - from a real one, brokers only have quotes
This is how it turns out that everywhere is deception!

Stable earnings on binary options

As an advertisement, binary options brokers very often resort to expressions such as "Stable earnings":
  • A steady income awaits you
  • Stable and high earnings are available to everyone
  • You are missing the opportunity to consistently earn money with us
  • We will teach you how to consistently earn money in binary options trading
Well, yes! So a green newcomer came to you and what, what are his chances of consistently earning? They don't exist at all! And what are the chances of steadily draining your money on your trading platform? But they are already equal to 100%.

I don't understand why you're listening to this bullshit from a broker? What is a stable income in trading? Are you Vanga or a professional trader? No? So what kind of stable income do you dream of?! People have been studying trading for years in order to achieve stable positive results - they spend their time and effort. And then you came - a person who knows nothing about trading, and what, immediately give you a stable income? Learn to think!

By the way, all the "teachers" and "schools" of Binary Options talk about stable and easy earnings in their articles and "educational" videos:
  • Easy and stable way to make money on Binary Options
  • 100% trade trading method
  • I will teach you how to accelerate a $10 deposit to $10,000
  • How to cheat a binary options broker
The truth is that:
  • Trading is easy if you're a professional, but trading is extraordinarily difficult to learn
  • There is never, and never will be, a guarantee of stable earnings - even for professional traders, earnings can vary every month
  • If you are given specific amounts that you will consistently receive at the end of each month, then they are trying to deceive you

You will receive your money within 24 hours

Here it is worth clarifying that the speed of withdrawal of funds depends on many factors:
  • When the withdrawal request was submitted
  • How much do you withdraw
  • What payment method do you use
Binary options brokers are very fond of pointing out the speed of withdrawal of money to their clients. Very often, they also indicate the amount withdrawn over the past day, week or month. It is impossible to verify how true this information is.

Payments to clients today

But they don’t always withdraw money in a day, even from VIP accounts. For example, on weekends, some binary options brokers simply do not make payments, citing the fact that the finance department is not working (sometimes, this is true). In fact, for many brokers, after submitting an application, the withdrawal amount is not deducted from the trading account and the trader can still trade - the last chance for the broker that the trader will have time to drain the withdrawal amount and there will be no need to withdraw money.

Also, the withdrawal speed can increase significantly during large payouts. The broker can arrange additional checks, look at the history of the trading account, and simply give the successful client time to "think his head" so that he can still trade and, possibly, drain his earnings.

A lot also depends on the payment system. For example, money can be received instantly on Yandex.Money and QIWI, but money cannot be withdrawn to bank cards so quickly. Very often, the withdrawal of funds takes about 3 working days. By the way, the INTRADE BAR broker has the same scheme - payments for Yandex.Money and QIWI are exactly instant (checked), but money can go to Web Money for about a day.

Whatever quick payouts the broker promises, but, in most cases, everything can simply run into the work of the payment systems or banks themselves.

Our signals will allow you to earn a lot and regularly

“You don't know anything about trading? It doesn't matter - we have very profitable signals that will help you earn money! - something like this looks like advertising signals from binary options brokers.

Binary Options Signals

We tried these signals - making money with them is very problematic. What about third party signaling services? You will not believe, but, most often, they are contained by binary options brokers themselves, so the quality of such signals is simply terrible.

But there are professional traders who give signals (signalers), what is wrong with them? Are you seriously?! You have a very experienced trader in front of you who makes millions a month, but at the same time he spends his time every day looking for signals for you? And in order to receive these very signals, it asks you to register using a certain link and replenish your trading account. Don't you think this is a scam for 300% of fools???

What kind of broken mind do you need to have to believe that the signalmen will work for you ?! You didn’t give up to any experienced traders - an extra headache and extra worries that will take away all your free time! And those who did take the time to give you signals are definitely going to capitalize on your loss. What can I say, especially when you consider the fact that most of these signalers are projects of binary options brokers. What does a broker earn? So draw your conclusions!

There is no free money in trading, and there will not be - learn to trade yourself, and trade only with your head! And leave the signals and signaling services to fools who are not able to think logically!

Paid teachers, trust management and paid binary options strategies

There is a lot of money in the world of Binary Options. Each of the binary options broker's clients thinks only about how to make money. Over time, all beginners understand that they will not be able to earn money on their own, so they are trying to find a way that would allow them to earn consistently and a lot.

On this basis, a lot of “teachers” have appeared who are ready to teach a novice trader all the intricacies of binary trading. Of course, for a certain amount! Such "teachers" always have a unique trading system hidden up their sleeves, which never fails - it is by it that a beginner will be taught.

The results of this trading technique are so beautiful that many people think about the intervention of photoshop (in 100% of cases, this is how the network is). But the “teacher” himself consistently shows only profitable trading (it is not profitable to show losing trading, even though it is a network), which makes you believe in his skill.

But what is it really? You will be sold a useless low quality trading strategy that was concocted from scrap materials in just one evening. What results await you after studying with such a “teacher”? And you will still be very lucky if you, for a fee, will not be taught to trade with the Martingale, passing off this draining technique as an unsurpassed trading method!

But strategies are often sold without “teachers”. High price is a guarantee of quality! Yeah ... It wasn't there. Now every gifted asshole is able to sell his offspring for a very large amount. Fortunately, novice traders are “lucky” that there are a whole bunch of stock sites where you can buy “strategies with unrealistic results” for a penny - from the world a string.

Well, okay, you bought the "Best Strategy of 2019 that gives 146% profitable signals per minute" and what's next? In fact, 99% of such strategies and techniques that you spend real money on can be immediately thrown into the trash - the picture is beautiful, but the result is zero. Everything is very beautiful only on history, but as you move on to real trading, the indicators immediately begin to redraw until the signal turns out to be profitable - that's the whole "uniqueness".

But on your trading path, you will meet some other very smart characters who will offer you to disperse your deposit on the following conditions:
  • You and other traders give money to this character
  • He trades on the received amount and pays interest to everyone
"No, but what's wrong with that? I don’t know how to trade myself, so an experienced trader will do this job much better for me, ”the novice thinks at such moments.

Trust management in Binary options

Needless to say, such bred fools disappeared with sums of $ 50 thousand or even several million. No, what do you want? Are you out of your mind? How stupid do you have to be to trust a complete stranger?! It's your own fault - it's your "reward"!

How to report a binary options broker

Most binary options brokers have a regulator - a company that controls the activities of the broker and obliges him to comply with the terms of the contract with the client. It turns out that it is worth complaining to the broker's regulator?

Let's first understand how binary options brokers drain their clients. They do it through:
  • Managers and "financial analysts"
  • Bonuses
  • Trading signals (moreover, the connection between the signal service and the broker is not always noticeable)
  • Trust management
Now think about why a binary options broker does this over and over again? Everything is very simple - because from a legal point of view, he does not violate the rules, which means that it will not work to find fault with him. Regulators are simply powerless in such situations.

You were tricked into funding your trading account by a manager - you are to blame for allowing him to do this. Your trading balance was leaked by the "financial analyst" of the broker - and who gave him the opportunity to trade for you?! You were not able to recapture the bonuses - but you took them too. You believed in trading signals - the broker will be able to prove that you simply did not use them correctly.

The problem is that you are responsible for your actions. Ignorance of the law is no excuse.

On the other hand, regulators are responsible for the fulfillment by the broker of all obligations to the client - they accumulate complaints from traders and transfer them to the broker. If the Binary Options broker does nothing to prevent such complaints from recurring, then the regulator may revoke the license and fine the broker.

So there are a number of regulators that you can trust. This:
  • CySEC
  • FCA

Binary options broker changed quotes - this is a scam

For all the time that I have been running the group and the site, I have come across so many traders who claimed that the broker adjusts quotes against them, thereby draining their deposit.

difference in quotes is normal

This is fundamentally not true. No one has been using such black methods for a long time. Why? Because it is very easy to check and then the broker will be unhappy. And it is checked as follows:
  • You set a third-party chart (from MT4 or TradingView) and a broker chart with the same time frame and the same asset
  • Compare price charts
Price charts will be the same for many binary options brokers. Why do many? Because brokers use different price quotes from different providers, so differences can and will be observed. It's okay.

Now there is no single supplier of quotes, so price candles can be drawn differently on small time frames. This is due both to inaccuracies in quotes and to some delays in their transfer to brokers.

What is the reason to complain to the regulator of a binary options broker

Let's clarify - there is no point in complaining to the regulator if:
  • You listened to a manager or "financial analyst" and lost your money
  • We traded on signals from a broker or signals from third-party signalers and lost money
  • Bought a "100% trading strategy" and lost money
  • Agreed to have someone else trade for you and they have already lost your money
  • Agreed to a bonus with very unfavorable conditions and lost money
In all these cases, you yourself are to blame. So when can you complain about a broker to a regulator? When a broker refuses to pay you your money. Look, it's YOUR money. This happens extremely rarely - brokers have not used this technique for a long time, because. regulators will not pat them on the head, and it is extremely difficult to regain their reputation later. A trader can be tormented, delayed payments, but in the end they will still withdraw the entire amount.

If a trader violates the user agreement with a binary options broker, then the broker, without conscience, can block the account of an objectionable client (blocking is possible even if fraud is suspected). But even in such cases, brokers, as a rule, return deposits to their clients (so as not to have problems with regulators), if earlier, the client did not withdraw the amount more than he deposited - in such cases it is pointless to demand something from the broker.

Complaints on websites and forums - reviews of binary options brokers

Regulators resolve issues for a very long time, but this does not mean that it is impossible to speed up the process of a dispute with a binary options broker. Brokers very often look at comments about themselves, loved ones, on various sites and forums - they look at what is being said about them and think about how to improve their reputation.

That is why it is worth leaving your claims on the forums and sites dedicated to Binary Options. By the way, this is one of the reasons why many people think that any broker is a scammer. But in fact, traders have a controversial situation and they are trying to get through to the broker in this way.

complaints on Binary Options sites and forums

But even here there is one important point. The claim to the broker must be reasoned and made in a calm tone. Well, how does the majority do it? They write such reviews that you involuntarily begin to feel sorry for the broker himself for getting such an unbalanced client. In general, they calmed down, made a reasoned claim and supplemented it with supporting materials.

How not to get hooked by scammers in Binary Options

In fact, everything is in your hands. You just need to be very considerate and skeptical of everyone and everything. Also not worth it:
  • Use trading signals in your trading (in no form)
  • Buy trading strategies and indicators (everything is free)
  • Trust broker managers
  • Listen to "financial analysts"
  • Allow others to trade with your money
  • Use bonuses if you are a beginner trader
  • Do not invest a large amount in trading with an unverified broker
  • Immediately trade on a real account (there is a demo account to get acquainted with the broker)
In general, count only on yourself and your strength!

Forewarned means ready for anything

There is no difference in who and how wants to make money on you. The bottom line is always the same - you must not give scammers a single reason to catch you and cheat you for money. There is only one person in trading that you can listen to unquestioningly - yourself.

Everyone else will try to manipulate you, impose unnecessary conditions on you, talk about the profitability of their trading method, try to get you hooked on trading signals or take your trading deposit for “promotion”. Never trust these people!

Everything you need for success is in you from the very beginning, and all the missing knowledge can (and should) be learned completely free of charge. To do this, you will not need the services of paid "teachers" and martingale trading enthusiasts.
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