The whole world was hit very hard by the financial crisis which occurred in 2008. We still feel the consequences of this event, and what’s more, a few larger financial crises occurred all over the world since then. When the global financial situation is difficult like this, the number of those who try to take an advantage of it is always on the rise. Many scammers have appeared on TV and on the Internet, offering fast earnings, insane amounts of money and all this without any effort. When people are in a bad financial situation, it is easy to get hooked to the promises like this.
Many websites have appeared offering fast and huge earnings without trouble. Naturally, all such promises are not possible to keep and these websites are certainly nothing but a scam. These are the website types to avoid in order not to lose all your money:
Money systems – if you type the words “money system” in a search bar, you will notice the Internet is full of websites offering “a secret system” for earning thousands of dollars a day without effort and without a regular job. Although everything that sounds too good to be true usually is not true, people still sometimes believe these promises and get hooked. Most of “money system” websites operate together with scam binary options brokers. When you register on the “money system” website, you need to open an account with one of the binary brokers they offer, or the only one. Then you need to place the deposit (usually several hundred dollars) and then trade binary options using their system. These websites make money in two ways. First, they get a commission from the binary broker every time a new user registers and deposits through this scam website. Second, they do not really connect you with a binary broker, but use a mock platform instead. This means that you will deposit your money and never see any of it again.
Binary brokers – Binary brokers and trading platforms are necessary for those who want to trade binary options, and there are many reliable and legit binary brokers online. However, there are many platforms resembling actual binary brokers, but their makers only use them to take the money from the gullible users.
Therefore, if you want to trade binary options, you should pay attention when choosing a broker. Check all the licenses and read their terms and conditions carefully instead of just skimming them. You will recognize scam binary brokers because usually promise unrealistic payout, together with binary robots or signals with accuracy over 90%.
They often offer a demo account where the market conditions are not real, so you will have the feeling that the trading goes well. As soon as you place your first deposit, you can end every trade out of money and lose the deposit you have placed at first. The other option is to earn money for a while, but when you want to withdraw it to a bank account, you will be unable to do it.
When you know all this, pay extra attention when choosing a binary options broker and the way of earning money online. There are plenty of reliable brokers with stabile platforms and excellent demo accounts, signals and robots, and there is definitely a wide choice for everyone who wants to try legit and secure binary trading.