Binary options scams have been on an increase lately especially now when more and more people are getting into the business of online trading. How would you identify that a binary broker is a scam? Well, there are quite a number of signs, which show that a broker is not genuine.
First of All
Go through the broker’s website carefully. Look out for their reviews and see the information that is displayed. If you realize that the broker does not have any review pages or even addresses, you should be very careful with them. They are likely to be a scam.
Check through and find out where they claim to be coming from. If it is from a developed country, then that could be a green signal for you to go on looking at their website to verify their authentication. However, if they claim to originate from a country that does not even have developed infrastructure, then they could be defrauding you. Most of the genuine binary option brokers come from well-developed countries, which can afford the cost of being an effective broker will the entire infrastructure needed.
Before you settle for a broker, try to contact with them through available customer support and see what kind of answers they give back to you. Since you have some knowledge about binary options trading, gauge whether they are able to handle your trades through the small conversation. You can also find out what your friends are saying about the brokers. Are they speaking positive or negative about them? Can they confidently recommend you to them? Your friends who have had any experience with this broker can also be a good source of information for you.
You can decide to utilize your reliable search engine to look for genuine brokers. However, you should have it in mind that other brokers could easily soil the name of their competitors. Therefore, you should not just settle on this but do some more thorough search by going through their websites to find out as much info as you can. To be on 100% safe side, sign up with brokers through IntelliTraders platform, we will take care of all these things for you and will teach you to master these things.