Scammers Tricking People into Taking Part in Risky Binary Options Trading
Be aware of fraudulent websites, like the one below, which claim that people can easily make thousands of dollars working from home. The fraudulent websites have been created by scammers to trick potential victims into signing up for very risky binary options trading accounts with brokers. Signing up for a binary options trading account is not a scam, but tricking people into registering with a broker by lying to them that they can make thousands of dollars without any risk is. Scammers use messages like "bank's secret strategy has been leaked on Facebook that has made hundreds rich," or lie to people by claiming that binary options brokers use very complex software or algorithm to predict the rise and fall of assets, which makes trading with them risk-free. But, do not be fooled by those binary options trading scammers, and remember, there are hundreds of binary options trading scams online disguised as get-rich-quick schemes.
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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Please be aware that laws regarding financial contracts may vary throughout the world, and it is your entire responsibility to ensure that you fully comply with any law, regulation or directive, relevant to your country of residency to the use of this website.
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Note: Some of the information in samples on this website may have been impersonated or spoofed.