6 tips to avoid binary option scams

simpson and his traderIf binary options are a phenomenal success, this mechanism also brings its share of sulphurous problems. How many individuals have complained about being ruined by this financial product? However, binary options remain a financial investment like any other and the risks they entail are ultimately similar to those of any investment. There are few risks inherent and specific to trading binary options, provided you follow these few common sense tips.

The first advice applies to any relationship you may have with sales people. Whether it’s changing your shutters, buying appliances or investing in financial products, some sellers are unscrupulous and likely to advise you on any product as long as it allows them to endorse a generous commission. This is a fairly common scenario for binary options where sales representatives are remunerated pro rata to the sums deposited by the customers they have attracted to the trading platforms. Therefore, always be wary of direct sellers encouraging you to pay money as quickly as possible to a particular site.

banque de france logoIn the continuity of this first advice, you should check all the information you receive by looking for a second independent source like docteurbinaire.com and ruedesoptions.com or the andlil forum. There are a whole host of characters who gravitate into the sphere of binary options, if some are in good faith and simply seek to provide advice to the general public, others seek to benefit from it and can multiply false and contradictory analyses. The best financial research is not necessarily the most expensive and the most effective strategies are rarely marketed on the Internet as a common teleshopping tool. Check out the specialized forums and gather the reviews of other investors before relying on a broker, analyst or other intermediary, never trust them blindly.

Equip yourself with the best tools, especially choose a broker at the top of the table. Even if it is not the one who will offer you the best bonus, it is essential (at least to get started) to choose a broker specialized in trading binary options that is recommended by a very large majority of its users, that is not on the black list of the AMF (Autorité des Marchés Financiers) and that is well established. You can always benefit from more lucrative offers once you have gained more experience and understand the ins and outs of the hidden conditions of these promotional offers.

Never place more binary options than you would be willing to lose. Systematically check the sizes of your positions and do not enlarge them excessively, especially if you are unfortunate enough to know a series of peanvil and silver designrdants trades. You should never deposit more than you are willing to lose on a trading account because the markets are very unstable, this applies to binary options, but also to any other financial instrument (shares, bonds, forex, investment funds, etc.). Start with the smallest possible size orders to minimize the risks you face and only increase size very gradually after a large number of trades. We recommend that you choose a regulated broker such as Interactive Option (recent), Web Option (leader in France), TopOption (ideal for beginners with low minimum deposit), Option Time or 24option the world leader in binary options.

Taking breaks is essential to be able to step back and analyse the information and knowledge you will constantly acquire. As when driving a car, binary option trading requires your full attention, especially if you take very short-term positions. If you cannot give 100% of yourself and devote yourself fully to monitoring your position, it is better to postpone trading or reduce the size of your trades.

If you don’t let yourself be influenced, if you are constantly looking for new information, if you conscientiously develop your strategies and keep total control over your positions, it is unlikely that you will become the victim of a scam on binary options. Most often, bitter reviews come from people who have not been able to follow these few simple rules and who have squandered their own money.