The 5 Scams of Binary Option Trading

Attention

Binary option trading sites in 2018 are no longer recommended at all, which is why MassLib informs you of this change and strongly advises you to use brokers other than those mentioned in this article, if you wish to trade shares or cryptomones. Below is a comparative table of the best brokers at the beginning of 2021. It’s up to you to play

The Top 5 of the Best Brokers in France

 BrokersRating 
number 00e9ro 1eToro logo★★★★★★★★See Site (*)
number 00e9ro 2IqOption logo★★★★★★See Site
number 00e9ro 3BDSwiss logo★★★★★★See Site
number 00e9ro 4XTB logo★★★★★See Site
number 00e9ro 5AvaTrade logo★★★★See Site

Binary option trading offers a profit potential that is probably unparalleled in the world of finance and stock market investments. But it is necessary to keep your eyes open to protect yourself from scams. Scams are not intrinsically linked to binary options or robots, however powerful they may be, as in all sectors of activity, it is necessary to know how to separate the wheat from the chaff and that is the objective of this guide.

1 – Only communicate with regulated brokers

cysec

To protect yourself from scams, the first step is to trade ONLY on regulated brokers. We recommend the following 3 brokers with excellent customer service and fast withdrawals:

The regulatory authority will frequently monitor your broker’s level of professionalism. This is the assurance that your financial intermediary complies with a code of best practices and that the client’s interest is at the heart of its activity. Regulation also ensures the segregation of the company’s customer and equity funds. If your broker goes bankrupt, your money can then be returned to you in full.

number 00e9ro 1optionweb broker★★★★★★see the website
number 00e9ro 2anyoption logo small★★★★★★see the website
number 00e9ro 3bdswiss broker★★★★★★see the website

2 – Consult the terms and conditions

Cache and scam conditions bonus like a needle in a haystackWhile the terms and conditions are long and daunting, they are worth the cost of reading. First of all, they make it possible to check the seriousness of the broker (spelling, grammar, consistency of the text, etc.). They also identify some abusive conditions such as hidden fees or complicated withdrawal conditions. They also often contain methods for unlocking bonuses or promotions. In any case, we do not recommend accepting bonuses, but we do recommend the training offered by OptionWeb and AnyOption

3 – Learn from the experience of others

You are probably not the only one who wants to use the best binary options broker. What will make the difference is the positions you take at this broker. Check out the sites that specialize in binary option trading and user reviews, look for informed reviews that weigh the pros and cons. Be careful, some promotional sites only contain positive reviews written by the brokers themselves, while other traders are screaming at the scam when they simply have not managed their limits and positions properly. Collect information from several trusted sources to avoid bad moves and find the best broker. We offer you on our website reviews and tests on the best regulated brokers such as Optionweb, the best broker in France.

stop the scams

4 – Check the functioning of the bonus

Customer support version chat versionThe bonus is often an important asset that almost all binary option brokers offer you. You must understand that in order to obtain this attractive condition, there is a counterpart. You will often have to trade 10 to 50 times the amount of your initial deposit and bonus before you can release all or part of the funds invested on the platform. Read in detail the conditions for awarding and withdrawing the bonus to avoid any unpleasant surprises when you want your money back.

We advise you NEVER to accept bonuses

5 – Know who your contact person is

Don’t trust binary option site salespeople blindly from the beginning, you shouldn’t feel rushed to make a decision. If you are asked for your credit card number repeatedly, first ask to test a free account. Try to check that your broker has a physical address and offices (no PO Box) and call their support service to check that they really exist and that they are competent.

If you follow these tips, you should be able to avoid the vast majority of scams that revolve around binary options. This advice is also valid for the vast majority of forex brokers and they should always be followed with a view to not having bad experiences.

BONUS

Meditation trading in binary optionThere is no secret or easy money. Traders who manage to win in the long term have worked very hard and have been trained for years.

If you have a well-made head, read many books, attend training courses, webinars, books, podcasts.

That you actively participate in a trading community, that you are curious and that you have strong loins, then you should be able to be part of the small percentage of traders who earn in the long term.

If you think that trading is not for you then we advise you to play in demo mode and invest your money in a low-risk way, i.e. in your A passbook, in bonds, in company shares that will never go bankrupt (like CocaCola that made Warren Buffet’s fortune) or in real estate.

There are no big gains without big risks. Binary options and currency trading are very volatile and risky markets, where you can win or lose big. If you wish to trade the options we recommend the 3 brokers below 100% CySEC regulated and registered at the Regafi of the ACPR Banque de France.