Binary Options Signals – How to Pick a Legit Provider and Avoid Scams

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The Most Powerful Binary Options Signals

If you’ve just started out in the world of binary options trading, you may already have realised how time-consuming it can be. For those considering entering the world of binary options trading, be warned that it’s going to take up a lot of your time. This is why some traders go back to traditional forex trading.

Being a successful binary options trader means you will need to study the markets and gain a certain amount of knowledge in the ways of the binary options world. However, don’t let this put you off, as there are many different ways to tackle the problem. One of the most popular, for both beginners and more seasoned traders, is to make use of binary trading signals. If you haven’t heard about this useful tool, keep reading and we’ll give you all the pertinent details, and then you can decide whether the best signals for binary options trading are something you’d like to take advantage of. Always remember you can go back to traditional forex trading as it may be safer and more consistent with your strategy.

What are binary options signals?

Trading in binary options involves predicting whether the price of a specific asset will rise or fall within a certain amount of time. It sounds pretty simple, but it is actually far more complicated, as it requires in-depth analysis of financial markets and world events. A large number of binary options traders find themselves with little time for this onerous aspect of trading and rely on a tool known as a signal.

Binary options signals are a series of trading alerts for currencies, commodities, stocks, or indices, and finding the best signals for binary options trading can greatly increase the chance of success. This is only recommended if you cannot find your own way or are not able to find your own strategy.

A binary options signal provider performs in-depth technical and fundamental analysis as well as analysis of trading and statistical influences, in order to provide clients with what they consider to be the best trading opportunities. There are many providers who charge for such a service, but there are also a number of free-trading binary options signals providers.

A signals service provider uses the latest information on the most profitable assets in order to accurately predict the direction that is becoming a trend, and also the expiration date of a binary option order. Signals are either provided by human experts, or via various algorithms, and can help traders to increase their profits and take a far less risky route to trading success. Using signals means that traders can quickly determine the best trades, and make informed decisions based on the analysis of experts.

It must be stressed that you have to do your own due diligence and check if it is legal to receive signals from such a provider in your country.

Different types of binary trading signals

There are a number of different binary options signals, and each has its own set of benefits. In order to help you decide the best type of binary trading signals to use we’ll give you a brief introduction to each of them.

  • Live trading signals. This type of signal gives traders the opportunity to sit in on a trading session via live video. It allows traders to learn how others read trends, and to copy what they do in a live situation.
  • Manual trading signals. This usually takes place through a social group or network, or it can be through joining a trading group, or via a Skype uplink. The alerts are sent manually rather than by automation, and are based on an analytical program, which means that traders can follow the experts. As well as alerting to a signal, there is also information sent as to why a trade or trend is viable, which gives traders the opportunity to understand more about market analysis and trends.
  • SMS signals. A number of binary options trading platforms send signals directly to a mobile device or a smartphone in the form of an SMS. This type of basic text message will indicate the assets to trade, and why it is crucial to do so. Alerts of this kind can also be used to inform traders of the latest market news, and any other important information regarding upcoming trends.
  • Copy-trading binary options signal. This type of binary trading signal has become very popular nowadays. The signal is provided directly to individual traders and is based on other expert traders’ decisions. Using a copy-trading system allows traders to copy other trader’s signals, most often those with considerable and proven experience. There are plenty of copy-trading services to choose from, and many of the best binary options brokers offer it as part of their package. It is also included as a feature of many trading platforms.
  • Auto-trading binary signals. Some consider this form of trading very lazy, as not only does it provide signals, but it can also automatically place trades on behalf of a trader.

How do the best signals for binary options trading actually work?

Being successful at binary options trading, and indeed any form of investing in financial markets requires traders to use technical and statistical analysis to uncover trends as they happen, or preferably as they develop. What is a trend? It’s a pattern of predictable behavior that happens over a period of time, and in the case of binary options, it is the behavior of various assets. Many signals providers use specially built software applications that can recognise and report any trends. This saves traders from spending hours sat at their computers watching the market and trying to pick out the trends themselves. Instead, the computer program does all the hard work for them.

Tips on finding the best signals for binary options trading

You may already have decided that using binary signals is an excellent tool to assist you in your journey; and quite frankly we don’t blame you, particularly if you are relatively inexperienced in this form of investment. However, we should give you a word of warning, as picking the wrong one could have disastrous and very expensive consequences. Trusting some fly-by-night binary options trading signal that turns out to be a scam could lose you thousands of dollars. It is vital that you undertake the right kind of research in order to find the best provider, and a good place to start is by reading customer reviews and comments. There are also a number of comparison sites, much like this one, that will provide all the right information for you to make an informed decision. We do some of the legwork for you, and can give you a good idea of the best ones to use.

Do you really need the services of a binary options signals provider?

If you’re still a little undecided as to whether or not you should use the services of a signals provider, there is an important question you should be asking yourself: Have you got enough time to analyse a number of different assets, over a long period of time? Or is your life already full to the brim with personal commitments and responsibilities? Have you got the time and understanding to correctly interpret market data using charts and systems? A good signals provider can do all the hard work for you, accurately predict trends, and inform you when it will be advantageous to place a trade. Most importantly you need to see if you can trust the signal provider, check if they are regulated and legal in your jurisdiction.

The top binary trading signals providers provide information that has been analysed by experts, in accordance with proven algorithms and a variety of tools. The signals are therefore accurate and as reliable as possible. The real-time trade information that is used means you will know what to trade and why to trade, and continue to learn and hone your binary options trading skills – all based on expert analysis and tools.

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What to look out for when picking a top-rated binary options signals provider

We’ve already mentioned that you should find the best provider, but it’s only fair to point out that not all providers are cut from the same cloth. There are some that are complete scams, and it’s vital these are given a wide berth; but how can you decide? There are a number of factors to look out for:

  • Win rate. Whenever you’re looking at the website of a signals provider, there will always be mention of the highest possible win rate. Some promise a win rate of 80% or more. The figure is usually in the FAQs section, and sometimes it can be found on the front page.
  • Pricing. There is no standard pricing, but remember the old adage “You get what you pay for”, and you won’t go far wrong. However, we should also say that it will pay to shop around, as many brokers offer interesting discounts; provided, of course, that you sign up for an account.
  • Reliability. Reliability is obviously one of the most important qualities to look for.
  • Support. Customer support possibly comes in as the second most important quality, as you never know when you’ll need some help. The best signals provider should offer customer support 24/7.
  • Free trading signals. There are a number of free binary options trading signals available, and even though you should remember the old adage, there is still a place for this type of signals provider in today’s binary options world. A number of free providers will also offer attractive bonuses to those who sign up for their services. However, there is a small downside. Many free signals come in the form of weekly charts, reviews, and articles, which can help make informed decisions; but you will stiBinary Options SignalsBinary Options Signalsll need to do some research of your own. For example, you will have to learn how to monitor the charts,and read the articles and market commentaries.
  • Regulation. Make sure it is legal to use the company sending you the signals and they are legit.

Avoid Scam by Knowing how to Choose Signal Service Provider

You may not like the idea of having Signal Service Providers due to a lot of distasteful factors. However, you need to understand what it does and as a trader learning the trade on your own is always a better idea. If ever you decide to chose a Signal Service Provider or SSP you can use these guides. These can enlighten you on your trading adventure. Read on and Read well.


It is standard for anyone to fully understand what he or she is getting into especially when it involves investments. Decision making should not be done rapidly thereby when it comes to trading you need to know who you are dealing with. As for signal service providers, there are dozens out there that you can choose from. You can use basic SSP forms such as blogs, forums, and newletters. You can take advantage of these free forms since they also provide wide ranging information. If you want to take one leap higher then you can go to dedicated SSPs. These people offer free or with fee services. They basically provide signals that you can follow. Some of them can give you easier options such as auto trading while other force you towards keeping up with them alone. There are also others who put up software on your PC so that you can track markets and decide for yourself.


Before you give your credit card number or pay for any signal service you need to stop for a while and think deeply. Before you hand in any personal details ask yourself if it is really worth it. Free SSPs can sometimes be doubtful but the great thing about it is that you can either take it or leave it. If you decide to avail of a free service you will surely have higher expectations for its services. This is when you opt for a paid service then you have to choose a trusted provider. There are many binary options scams online so you really have to be very careful. You have to identify what are the site’s motives.


A lot of traders are attracted with auto trading. This is an enticing feature that SSPs and robots also provide. The doubtful thing about these is that you need to have the software downloaded to your computer. Once the software is installed it may take over your account and then enter trades based on the parent company’s signals provided. This is basically crazy. It is like you are falling into a trap where you let another person control your life. It is like you are welcoming a virus with open arms. Auto traders and robots do nothing except increase risks. As a trader you already have all the risks for trading and letting someone make the decision for you greatly increases your existing risk. The scary thing about this is that you trust your decisions to a robot or a computer and you are pretty aware what happens when it becomes out of control.


Most of the time, it is better to do things on your own because you know your preferences. When it comes to trading you really have to know how to trade on your own and for yourself. Binary Options can be considered tentative tools and if you want to be involved with it then you have to do it on your own. Learning takes time and if you have the patience to do so then you can surely succeed.


A better option would be social trading. You can use Communitraders for binary options trading. It is a platform that can provide you the opportunity to practice and improve your trading skills. You can ask questions here and even post strategies and ideas. You can even follow other traders and observe their moves.

Binary Options Mastery Scams

It’s been several years since binary options trading and binary options robots became an Internet fad and for a moment, everyone was interested in getting into the venture. It was seen as the new avenue of making it big in the world of financial trading. The opportunities were countless, the possibilities infinite with multiple binary options brokers and automated trading systems. For all of 15 minutes, Wall Street and basically any other business venture was under threat, people were making money from binary options and making no secret of it. Suddenly, everyone was looking into ways of getting into the venture, with high hopes of getting rid of the embarrassing middle class tag and maybe, just maybe, hit the ‘big one’. However, recent occurrences (massive complaints, reports of fraudulent activities etc etc) have changed the collective perception of the populace towards a venture they considered The Common Man’s Wall Street.

I mean, all you needed to get into binary options was an Internet connection and a deposit of (mostly) $250, nothing more. There is basically little to no paperwork involved and certainly no waiting periods, except when withdrawing using wire transfer, unlike in stock trading where the legal and capital requirements are a bit overwhelming.

Where everyone thought opportunities were endless, they found a sickening number of scams and cons skilled in the art of deception and thereafter, disappearance. Of course, in every aspect of human existence, it has always been survival for the fittest, as good ol’ Darwin put it. There are always some people who use their brains, or in most cases, lack thereof, to take advantage of others. Financial trading is no different and conmen exist even in the inner sanctums of Wall Street. Unfortunately, in binary options, the scams are more than the real ones, making it hard to differentiate between the two. For most people, that is. The reason for this is that human beings, have always been, are, and will always be greedy, especially where money and/or wealth is concerned. The tricksters know that very well and craft strategies to capitalize on people’s greed for money and are almost always successful. That warrants debate on whether binary options is really profitable or a game of luck, and false hopes just like gambling.

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    Is Binary Options a Viable Investment Option?

    Many people who are involved in binary options trading will tell you that the reason they chose to get involved in the first place was that, compared to gambling, binary options looked more legit and viable in the long run. And that is true to a large extent. But the question of profitability has never really been addressed. As it stands, if you visit any binary options online community, you will be shocked by the large number of complaints (most of which are laced with profanities) from traders who lost money in unclear circumstances. These are often against certain brokers and auto traders, some of which have closed down after overwhelming online outrage.

    That aside, binary options is a viable investment option, just like stock trading is. If you look hard enough, you will find quite a number of traders who have achieved great success in trading binary options, a good example being our team here. However, unlike stock trading, and pretty much like gambling, it takes good strategy, consistency and patience to succeed in binary options. And not only that, choosing the right broker and/or auto trader, if auto trading is your thing, has a lot of bearing on your success, or lack thereof.

    Be careful for the scams

    Causes of Losses in Binary Options

    Now, to the issue of traders losing their money, brokers are always the first people to receive the blame, and in more times than not, they are the guilty party. Nonetheless, while we admit that the presence of scams in the market is to blame for most of the (suspicious) losses made by traders, it is imperative to note that there could be a bunch of other things that could lead to one losing their investment. These include:

    Lack of experience – Quite frankly, most of the complaints we’ve seen are from new traders. These traders don’t know much about financial markets and probably got into binary options because they read/heard that the profits are huge. When getting into the trade, most people don’t care about doing comprehensive background research on the best brokers and trading strategies to use to ensure not only one-off success, but consistent results. Such traders are so blinded by the huge amounts of money they hope to make, or were ‘guaranteed’ by some deceptive broker that they can’t see anything else. One of them being the need for dire preparation and knowledge about how financial markets behave and why they do so. In addition to that, money management skills are very crucial to ensure the investment per trade is proportional to the possible losses and expected profits.

    You don’t want to put in $150 on a trade with a 65% payout while the risk of losing the whole amount is higher. Also, lack of experience affects how effectively one uses the (usually) provided analysis tools like technical graphs, indicators and charts to know which option(s) to buy. Thus, before pointing fingers at the broker or your auto trader for your losses, first ask yourself if your lack of experience is to blame. And five out of ten times, it is to blame.

    Poor money management – This is directly connected to the above paragraph but not really the same thing. See, you could be an expert analyst in financial matters and even succeeded as a trader in other instruments but still fail to replicate the same when it comes to binary options. In this case, there is a high chance that your money management skills are poor, which translates to poor money making potential. Binary options, just like gambling, requires a clear and focused mind that can make decisions that are free from emotional responses. For most traders, this is extremely difficult to achieve and they find themselves to have invested a lot in a trade that promised extra high payouts only for it to end up out of the money. Similarly, you may invest a very low amount in a trade that had low payouts that had an In The Money (ITM) finish.

    Say you placed the two trades together; the profit you realize from the second trade won’t be enough to make up for the loss you made in the first. Eventually, if the same trend continues, your trading account will contract to levels dangerously close to sub zero, and you might as well be applying for bankruptcy. And of course you will point fingers at your broker, like everyone does. As a matter of fact, a good trader uses the first deposit (in addition to the bonus) to make money for all his future trades, plus withdrawals. If the only thing you’re doing is making deposits and not withdrawals, we suggest you audit your trading strategies before thinking of blaming, or changing, your broker.

    Greed – Admittedly, brokers take part of the blame for this, for “adding wood to the fire” so to speak. See, human beings have an inborn greed for wealth and success that has puzzled scientists up to this day. This greed usually overwhelms logic and common sense which makes it easy for con men to easily get their daily bread, and wine, and pizza. All they have to do is bait their prey by using statements like ‘Sign Up Today to earn $50k per week’ and they are sure to catch some fish. We are not trying to defend the actions of the numerous predators waddling in the binary options pool but rather encouraging you to use your common sense just a little bit more and you’ll never find yourself a victim.

    Now that we have established the secondary causes of loss in binary options, it is time to focus on the main culprits – scam sites. These are in both the brokerage and auto trading sector and are pretty advanced in their scheming. As it were, the number of legit brokers can be counted with the fingers in both hands and still leave room to give a stunning middle finger salute to the scams. To better understand the intricacies of these scams, it is important to first understand how they work.

    Don’t get fooled

    The Anatomy of a Scam

    A lot of people have written to us asking for clues on how to recognize a scam. For us, it is very easy to recognize a scam just by the presentation of their website but unfortunately it is not that easy for majority of the traders. Nonetheless, we will share some of the giveaways that tell you if the site you’re dealing with is a scam. Now, most binary options brokers will advertise themselves as offering low risks, high returns (some even quote unbelievable figures) and most importantly, that you can’t lose more than you should. To an extent, all that is true. The degree to which it is true is very much dependent on the particular broker you are using.

    The thing with scam artists is, they aren’t the best creatives we have in the world and all of them read from the same script, with just a few tweaks on the words and figures. This is why it is very unfortunate, to the point of being embarrassing, that there is always a bunch of people falling victim every single time. That binary options remains, for the most part an unregulated venture does not make it any better. If governments all over the world were serious about resolving the issue of their citizens losing money to online fraud, you can be sure there would be no scams. Or at least the number would be minimal. Nonetheless, traders need to have a deep understanding of the financial world in general and binary options as a financial instrument in particular to completely avoid unnecessary losses. If anything else fails, proper education and use of logic always work.

    Knowing scams exists helps to avoid those

    How to Recognize a Scam

    Talking about being informed, below are the things that tell you that a particular site is a scam, and will drain your account faster than you can figure out their name:

    1. Identity of owners is ambiguous

    If you look closely at the reviews we have compiled over the years, you will note that we always had an issue with the so called site owners having ambiguous, and often fake identities. Some will give stupid names like Allan Trader or Binary Byron in an attempt to hide their real names and effectively eliminate the chances of getting sued. As it stands, most cons who set up fraudulent sites get away with it since tracking them is really hard. For one, you can’t report a nameless person from an undisclosed country. Two, very few countries have laws in place to control online trading which complicates things. Most importantly, many traders don’t know what to do, or where to go when they lose their money in unclear circumstances. Again, the need to have proper education and knowledge on both the economic and legal landscape is very apparent here. Anyways, dealing with a regulated broker will make things a bit easier. Oh, and if the owner’s name sounds funny and/or too unique, run. Just run.

    1. No presence on social media? No thanks

    This is pretty obvious, if the broker or auto trader you are thinking of signing up for is not on Facebook or any social platform, do you still need to be told that they’re up to no good? All decent brands are interested in interacting with their customers on social media and if a particular broker is not, it is probably a scam. Bottom line, if they aren’t on Facebook or Twitter, they aren’t for real. End of.

    1. Too good to be true

    The wise men weren’t fronting when they said if it sounds too good to be true, best believe that it’s too good to be true. In this case, if the promises that a certain site makes sounds too good, better think twice before clicking on the Sign Up button. Anything along the lines of “100% ITM software giving you $1000 per day” falls perfectly within the too good to be true category. In fact, anyone who gives you a definite figure of how much to expect is too good to be true. In binary options, there are no guarantees, the underlying situations keep changing and a stock that is performing very well today may take a downward spiral in the next two days, due to one reason or another. As such, it is very difficult to predict future earnings and anyone who tries to convince you otherwise is only baiting you. And you will be left crying after they take off with your money.

    This one doesn’t need further explanation. When you land at a broker’s site, the first thing you should do is check the bottom of the page for a license. Every licensed broker will display their license number and state the body that licensed them. The Cyprus Securities Exchange Commission, better known as CySEC, is the most credible regulator when it comes to binary options. Any serious broker should have a CySEC license and those who don’t are most likely scams. Never sign up with a broker without a CySEC license no matter how good they look at the surface. This is a condition that you shouldn’t compromise on.

    When it comes to auto traders, there are no regulatory authority involved in giving licenses yet. However, the auto trader does have to be regulated since technically, you don’t put up money with the trading system but with the broker. Thus, when looking for an auto trader, be sure to check if the listed brokers are regulated. Generally, an auto trader affiliated with renown and regulated brokers is more likely to be legit than one affiliated with unknown sites.

    We always recommend checking with us before making a decision on which broker to sign up with. This is because it might not be easy for you to read between the lines and tell if what is said in the site is true or not.

    How Does The Scam Work?

    The rise of the binary market has attracted many con artists to the foray, and they start even before you open your account. In order to understand whether the brokerage site you are visiting is genuine or a fake, you must have some basic knowledge about how these scams work? The following text will try to answer this question.

    • They disguise you with a fake website which looks like a legit binary option broker
    • They promise exorbitant success ration on their signal services, some even goes on to guarantee it.
    • They use the web for fake reviews and testimonials under multiple names to trap you.
    • As soon as you join such scams, you lose your initial deposit amount.
    • Once your deposit has been lost, you get a call from so called senior broker asking you to deposit further funds.

    These are the general steps followed by the binary broking scams. It is advisable, if you see any of the above signs, just stay away from them.

    Types of Binary Options Scams

    The unparalleled rise in the binary options trading has attracted several new traders in the market. Unaware about how things work in the binary arena they come with very high expectations from the binary trading. Such newbies fall prey to the sharks of the binary arena or so called scam artists. They advertise themselves with some unheard payouts and consistent revenue stream to lure the investors. Once, these newbies have enrolled themselves then only they realize that they have been conned. The regulators in the several parts of the world are aware of this nuisance and have identified three types of fraudsters in the financial markets. The following text enlists them in detail.

    Brokers Who Block Withdrawals

    This is the first type of scam artists. Once you enroll with such brokers and make a deposit, and try to request a withdrawal, you just can’t. sometimes, such brokers go even step further and calls you up to deposit further funds to initiate the withdrawals by making some nonsense argument of how beneficial it is to deposit further funds to your account. Then, the nimble trader request for withdrawal which is now repeatedly denied, your phone calls go unanswered, and your e-mails to the customer support start bouncing. All your attempts to get your own money goes in vain with some point in terms and conditions or having no one in the organization to listen to your requests. Then only you realize that you have been conned, while, the realization would not have cost a million but surely few hundred dollars.

    Such scam artist advertises being one of the best in the business and offers unrealistic gains by trading with them. So, how to avoid such con artists? Read on:

    • Do comprehensive research about the brokerage house even before thinking about depositing funds. Search the internet for the available online reviews about the brokerage house, specifically, on the third party websites and social forums. The customer often reports such con artists on various forums so that other don’t get trapped.
    • Thoroughly read terms and conditions on the website along with the FAQ relating to the deposits and withdrawals. You must be aware of any restrictions in terms of a minimum deposit and a minimum withdrawal.
    • When you are starting with a new broker to start your binary trading journey, only make a deposit of minimum amount as indicated in their terms and conditions. After depositing funds, try a test withdrawal in accordance with their terms and conditions before building up the account and adding further funds in the account.
    • If you receive a phone call from the broker to add funds to your existing account in order to make it big then the first thing you should do is try and withdraw the existing amount from the account and start searching for a genuine broker.

    Scam Brokers

    Scam Artists Who Steal Identity

    Such scam artists go even a step further, they not only try to steal your money, they also steal your identity to take more money from you. The requirements of Anti-Money Laundering and Know Your Customer guidelines are followed by all the brokers, which requires them to ask you about your proof of identity, address and sometimes, a copy of your credit card, and hence it is a challenge to avoid. You may have provided your credit card details while making the payment or provided your identity proof to initiate a withdrawal or provided a copy of your credit card (back and front) or you may be asked to provide Social Security Number. You may be asked to provide faxes of such proofs, we recommend not to comply such requests.

    If you have even a slightest of a doubt about the brokerage house, just avoid or avoid using your credit card to make the deposits instead you can use other modes of electronic payments like e-wallets, which secures your identity.

    We are not saying that every broker in the binary arena is a scam artist who asks for credit card details, but it is always better to be safe than sorry. Specifically, you should be aware of the brokers who does not require your identity proof while enrolling but demand proofs before initiating withdrawal requests.

    Some pointers to avoid such scam artists:

    • As always, make a thorough research about the company even before thinking about depositing funds. The internet is a great source of information, and there are websites and forums which provide independent advice on several brokers, read each of the available reviews about the website before initiating the registration process.
    • Read the terms and conditions, and FAQ on the respective broker’s website to gain a complete knowledge about the withdrawal process and its requirements. If you still have a doubt, make a call to the customer service department of the broker to verify that they will not compromise your identity and will not ask you to comply later on.

    PS: In a circumstance where you need to provide a copy of your credit card, then you must black out the middle eight digits on the front of the card, and CVV number on the back of the card to be safe.

    Trade Manipulating Brokers

    This is the most sophisticated than the other two but could cost a fortune over a period of time. Such brokers manipulate the software to generate losses to the traders. The most common technique used is: the trade expires after it was set to, and suddenly, your trade jumps from in-the-money to out of the money. You make a call to their customer service which ultimately denies giving reference to the terms and conditions of the site about technical glitches. The repeated occurrence of such episode is a big warning signal for the traders, and one must exit entire funds from such websites.

    There are other aspects in the binary arena which is managed by such scam artists. For instance, sudden changes in payouts for no obvious reasons, and a price fluctuation of an underlying asset without a convincing reasoning. However, you must remember that the most common reason for losing a trade is because you did something wrong, and not your broker. In other words, do not impose your own mistake onto the broker and label them scam artists.

    Avoiding this scam:

    • Once more, research, research, and more research! Always, make an effort to learn more about the brokerage house through various independent websites, customer forums, and social media to gain a complete knowledge. We are reiterating again that you must research thoroughly about any brokerage site before even thinking about depositing funds.
    • To identify such brokers, you must keep your eyes wide open while trading and lookout for any sign of suspicious price jump and suspicious expiry moves. If it is a once in a blue moon kind of an event then it is okay, though less likely, but if it repeats more than once, just beware. If anything looks suspicious then you must try and withdraw all your funds and start researching for another broker.


    You must remember that the binary options trading is not a scam by itself – it is just an another way of trading financial instruments. However, there are some con artists at play who tries to take the advantage of novice traders and steal their money. Just to be aware of such con artists, you must research well before making any commitments to the brokerage website.

    Avoid These Things in The Binary Options Trading

    We have already discussed how the scam artist works, and what are types of the scam artists who are at play in the binary trading arena. Now, we will discuss some of the most common mistakes traders make and fall prey to the con artists. By avoiding these mistakes, you can keep these con artists at arm’s length.

    1. Registering with the new brokers: The binary options trading has been around for quite some time and there are some brokers who have proven track record. So, it does not make sense to get register to the new brokers unless and until you are absolutely sure about it.
    2. Not knowing T&C of bonuses:Bonuses are a great way to increase your initial balance, but they come with certain terms and conditions. These conditions restrict the withdrawal until you meet their requirements, and hence, you must read the terms and conditions along with the FAQ about the bonuses on their website.
    3. Managed Accounts: You should never, and I repeat never, allow any third party including the account manager from the brokerage house, to trade on your behalf. The offering of the managed accounts is a one-way to lure the investors in their scheme of things.
    4. Don’t gamble, strategize: The binary trading is not a gambling but it can become one if you treat as a random investment. There are several strategies available to invest for the long or short term. Not using such strategies will definitely make you lose.
    5. Don’t’ bet your account: As a beginner, you must not risk a large amount on a single trade. The binary trading is a long-term association and not a get rich quick scheme. So trade wisely.


    Despite everything you might have heard/read, binary options is as legit as the constitution itself. As long as you know how to separate the legit brokers/auto traders from the scams, you will achieve your goals. Above all, do plenty of research and asking around. It actually works.

    That said, we would like to deflect your attention from the scams that we’ve been talking about all through to the few legit sites that exist amid the spoilt fish. As far as brokers go, IqOptions and Banc de Binary are arguably the 2 most accomplished and legit brokers in the world. If you search for The Best Binary Options Brokers in the World and you don’t see any, or both of them in the search results, you can be sure that the results are fake. Banc de Binary, for instance, was established in 2020 and has survived every tide to make it to 2020. On auto traders, there are quite a number of legit systems around but we generally recommend Binary Options Robot which has both high accuracy and payouts. Most importantly, all the brokers linked to the robot are regulated by CySEC, which is our standard requirement.

    Good luck finding the right broker/auto trader for you.

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