In recent years, the binary options market has emerged as a good source of income for many individuals. Here, they have to predict whether the price of an asset will be above or below a certain level at a specific time. Correct prediction allows winners to receive a fixed payout. On the other hand, wrong predictions can result in the loss of investment. However, unethical brokerage companies or brokers cheat people financially using binary options scams. So, let’s discuss them in detail and consider how you can protect yourself from binary options trading scams.
Binary options are the simplest trading options in the financial market. Traders have to predict how the asset will behave: whether it will grow or fall within a pre-agreed period. Scammers ask you to invest, make a bet, and then win the money. If your prediction proves to be wrong, all your deposits will go straight into the pockets of scammers. They create fake binary trading platforms and write bogus reviews to gain investors’ trust and take their money away. In many cases, you may lose your entire wealth and face a complete financial catastrophe.
Remember, scammers working in the binary options sphere disguise their actions carefully. They put their heart and soul into making their illegal business look legal. However, you can recognize their fraudulent activities by these signs:
The Company Has No Licence
Remember, companies need to get licenses (for binary options) from regulatory authorities. If a particular organization has such authorization, it is probably a fraud company.
Limitation on Funds Withdrawal
If you are unable to withdraw money from your trading account, be alert. Fraudulent options trading companies often block investors’ accounts without any concrete reason. Also, they come up with unreasonable demands for fund withdrawal. They may mention technical problems and unclear terms and conditions to withhold your money.
False Promises of Unreasonably High Benefits
To lure investors, scammers promise them big profits in a short time. Such deals lead to inevitable losses. Remember, aggressive advertising and guarantees of higher profits are classic methods of online financial fraud. In binary options trading, most investors lose their funds without realizing that they are being scammed.
Lack of Customer Support
Lack of prompt customer support also indicates a potential financial scam. Scammers often avoid responding to customers’ inquiries. They either cause unnecessary delays (when you seek support) or don’t respond at all. You should not trust such a company at all.
Hidden Terms & Conditions & Inflated Deposits
Many binary options platforms force investors to deposit huge amounts into their accounts to start trading. Hidden terms and conditions during registration or fund withdrawal are also a red flag.
Fake Reviews
Several binary options companies use fake reviews to create the illusion of a successful business and attract more investors. You should visit impartial web platforms (such as Glassdoor or Trustpilot) to get people’s actual opinions about service providers. If possible, communicate with some customers who have used their services before. It will help you choose a good company for binary options trading.
Unfortunately, binary options fraud companies often take all possible measures to make their actions look legal and prevent clients from withdrawing their funds. However, you can reclaim your lost funds using some effective mechanisms.
Collect The Scam Evidence First
As soon as you realize the binary options scam, start collecting possible shreds of evidence. It may include mutual communication with the trading platform, SMS and email notifications of bank transactions, correspondence with company support, records of failure to meet withdrawal conditions, etc. The availability of the evidence makes it easier for law enforcement agencies to investigate financial scams and catch culprits.
Report The Scam To Regulatory Bodies
Take immediate action and report the binary options fraud to your banking partner, central bank, and local/federal law enforcement agencies. It will help you start the legal procedure to catch the culprit and reclaim your money.
Use Binary Scam Recovery Services
Ordinary binary investors always find it difficult to recover stolen money. So, it’s unwise to kill precious time while trying to fetch digital assets yourself. Take advantage of our binary scam recovery services. At Crystal Recoup, we investigate different financial scams and help people or companies recover their lost digital assets. Our recovery experts may use multiple techniques and tools to investigate financial crime and explore the possibility of fund recovery.
In the world of binary options, scams pose a great threat to investors. They can lose their entire wealth in a jiffy without any realization. Contact us at Crystal Recoup when you experience a binary options trading scam. We will help you easily navigate through all stages of funds recovery from scammers and deal with legal challenges. We have the necessary tools, technologies, workforce, and expertise to look into financial scams and recover your lost money. We will respond to your call almost immediately and help you with our fraud recovery services.
We are a leading financial fraud recovery firm. We are licensed & Regulated.