Scammers Tricking People into Taking Part in Risky Binary Options Trading
A Sample of one of the Fraudulent Binary Options Trading Websites
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OptionRidge used a neuron-network-based algorithm, developed in conjunction with Google
Why Trick People into Signing Up for Binary Options Trading Accounts?
The scammers make commission from the deposits of the people they have deceived into signing up for binary options trading accounts with brokers, every time those people trade, whether they lose or earn money on their so-called investments, taking part in very risky binary options trading. A minimum deposit of $250 is required by most brokers to get started.
What is Binary Options Trading?
Binary Options trading allows you to basically trade by saying “yes” or “no”, and if you predict the right outcome you win a predetermined amount. If you are wrong, you lose your money.
The trading of binary options can involve overall market risk. In nearly all cases markets can and oftentimes do move in various directions without ample warning. Although there are ways to predict potential market movements, even the most thorough of analyses cannot always accurately pinpoint exactly which direction the market will take.
Although scammers are tricking people into opening binary options trading accounts with brokers, it doesn’t mean the brokers are not legitimate. Most brokers let their customers know the risk involved in binary options trading.
Remember, it is the scammers who deceive people into registering with brokers and attempting to make commission from them we are trying to protect you from. The ones that tell people that there is no risk trading in binary options and they are guaranteed to earn thousands or millions of dollars.
Here is further proof that binary options trading is very risky. The following message was taken from OptionRidge’s website:
Trading in binary options carries a high level of risk that can result in the lost of partial or all of your investment. This type of investment may not be suitable for all investors. You should not invest in binary options money that you can’t afford to lose. You should ask for advice from an independent consultant and learn of all the risks that are associated with the investment in binary options. OptionRidge should not be held responsible for any lost of investment in binary option either partially of in full and under no circumstances shall have any liability to any person or entity for any lost or damage that is caused by any transaction related to the trade with binary options directly or indirectly, consequently or incidentally, or in any other conceivable way to any damage whatsoever.
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