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What is the difference between modern man and his distant ancestors who lived several centuries ago? Virtually nothing. Of course, the rapid development of science and technology left a certain imprint, but in a global sense, these are all trifles. Modern middle-class people, like the bourgeois of the 18th century, are still somewhere at the subconscious level children who believe that they will find treasure sometime or earn huge capital from trading in binary options. It is this factor (and not ingenious schemes of scammers, as many people think) that is the main reason that people, regardless of gender, age, social status and income level, continue to give money to fraudsters with amazing perseverance.

Binary options as an effective tool for cheating traders

The global financial market has always attracted lovers of easy money, because where big money is spinning you can always find a “loophole” for personal enrichment (this applies to both commercial projects and the banking sector or government budgets). But over the past decade, when most of the operations and information “migrated” to the Internet space, and against the background of traditional assets and tools, new directions for generating income and investment activities appeared, deception, in the segment under review, reached unprecedented proportions.

What contributes to the growth of crime in financial markets?

   • The rapid development of online trading and the creation of fundamentally new financial assets and tools (cryptocurrency, binary options, etc.).

    • Lack of necessary legislation, both at the international level and within the framework of national economies.

    • The emergence in the financial markets of entities that do not even have basic economic education.

  • Ability to influence large groups of people using the Internet (social networks, specialized resources, advertising, etc.).

   • Impunity of scammers who have learned to use the “gaps” in the legislation of different countries of the world.

   • The need to study, analyze huge amounts of information in order to control the situation on the world market.

   • Political factors.

Modern binary options, which have been an integral part of online trading for more than 10 years, have never attracted much confidence from experienced financiers. But for many clients of brokerage companies (90% of whom did not even understand the difference between fiat money and crypto coins), BOs became their favorite “source of profit”, more precisely, “losses”. Given the low level of economic literacy of users of sites who specialized in trading in binary options, as well as their uncertain status in legal terms, enterprising scammers quickly realized that BW for them is an ideal way to generate income.

This is how SCAM brokers, “kitchens”, “bookmakers” and others appeared, which later became the main cause of negative attitudes towards BO, despite the fact that not only scammers but also decent brokers worked in this direction.

 

victims of binary options brokers

 

How binary options brokers work

Using the above classification of unscrupulous BO brokers, consider what is the difference between different trading platforms specializing in BO.

SCAM brokers are common, one might say, the most primitive scammers. As a rule, they work according to the following algorithm. They create / buy a web resource (very often its name reminds some well-known office), advertise it, promising its customers the best trading conditions. But after “squeezing” out of traders-losers a decent amount, they leave the market in order to re-launch their scheme after a certain time.

“Kitchens” are more inventive representatives of online trading. With proper organization, such trading platforms work for several years, without attracting the attention of law enforcement agencies. In order to interest representatives of the target audience, they distorted forecasts, trading signals and graphics, forcing their customers to make decisions that were beneficial to them. Financial means of users such brokers never enter the real markets. They use them exclusively for their own purposes. Issue short-term loans, take part in online trading or other promising projects, etc.

“Bookmakers” work, as well as representatives of the above group, but try to use the finances of their clients according to the principle of bookmakers. As a result, some participants receive money, but most of them are deposited in the pockets of the project organizers.

How to return the money transferred to the fraudster broker?

Very often a failed trader, starting to realize that he was deceived by a broker, does a lot of thoughtless actions that do not bring a positive result, and sometimes even “work” against him.

On the Internet, you can find advertising companies that are engaged in the return of money in such situations. Should I contact them? It all depends solely on you. But there are several important points that you should be aware of before asking for help from representatives of the above companies.

Regardless of the result, you will have to pay a certain amount (usually quite large) for the company’s services. In 99% of cases, such firms use the transaction protest procedure – chargeback. In this case, you will independently prepare all documents (copies of the contract, screenshots of correspondence with the broker and the payments sent, etc.). That is, having done most of the work, you will pay an impressive amount for the fact that the company will contact the bank and provide all your documents. At the same time, there is a risk that no one will do anything at all, they will take an advance payment from you, and in a few weeks you will receive a letter in which you will be told that nothing can be done, so the company takes all the expenses on itself, somehow “forgetting” that you paid them a lot of money even before the “saving” operation.

How to proceed? Conduct a self-specified procedure, which of course is associated with a large number of bureaucratic nuances, but is not something unaffordable for a person who has figured out how to work in the global financial market.

TRADE OPTIONS

“General Risk Warning: Binary options and cryptocurrency trading carry a high level of risk and can result in the loss of all your funds.”

What is wrong with binary options?
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