Now is the right time to pay attention to the information that is available on Binary Options Brokers. Before you being any trading with a binary options broker, you need to take the time to thoroughly go through the reviews of other customers, and ensure that you are not dealing with a scam site. If you have established that the site is not blacklisted, you need to go a step further and look through the reviews to discover what customers are complaining about. Doing so will make it easier for you to avoid the fake sites, and focus on the real ones.
The Red Flags to Look Out For
A discerning analysis of broker complaints will make it easier for you to identify which of the brokers are legitimate and which are fake. The first red flag is: –
Not Paying Out Money Earned
Once you have earned your money on a trade, it is logical that you would want to withdraw it. If you notice that there are sites that are not honoring withdrawal claims, then keep away from them. A fake site could also award you a bonus that you did not sign up or ask for in an attempt to get you to deposit more money into your account. If you find that you are dealing with a claim that has no basis in truth, then, it is likely a fake broker.
A Lack of Information
If you find a binary options trading site and following a search for information, not much turns up, then you need to be a little concerned before you deposit any money on this site. A lack of information does not automatically mean that the site is fake, however, it should raise your concerns and suspicions that something is not right. This is where you need to take the time to trust your instincts. If any question arises in your mind, back away.
Traders who walk away
When you notice that the site you want to trade with appears to have an exodus of traders who are walking away, then perhaps you should not risk putting your money in this site. If everything was legitimate and above board, it is unlikely that so many traders would be looking for a better option. Furthermore, if the winnings are made to sound too good to be true, they probably are. Rather than risking loss, it would be wiser to walk away.
Watch where you are trading
A common complaint revolves around finding a site and choosing to open an account on that site. When you do so, you will be asked to link your account to a broker, who will then instruct you on how much money needs to be deposited. Usually, you will be promised heaven and earth and great returns. You trust and leave everything in the hands of your broker. When you try to do the trades yourself, you will find that the software on the website does not work. This is an indication that you have been dealing with a fake broker. Never deposit money with a broker until you are able to make a full and complete assessment of their viability.
There are certain things that are not acceptable when you are looking for a binary options trader, and with so many legitimate traders available, you should not settle for one who is dishonest. If you read reviews and find that there is more than one complaint about the same issue, go through it and decide whether you should stick with your choice or move on. The most crucial complaints to note are those about money and being able to withdraw, as well as those that highlight flaws in the software system.