The binary options industry has seen better days after the once-promising marketplace has been largely revealed to be full of fraud and scams. For traders who still prefer to trade binary options, this means navigating a tough marketplace that’s fraught with perils, and sometimes having to deal with the unfortunate reality of being scammed. With lawsuits that range from tens to hundreds of millions for fraudulent binary options executives, it can be disheartening if you’ve traded on the market.
If you’ve lost money on binary options scams and fraud attempts, it may seem impossible to reach these companies, and when you do it can feel even harder to get anywhere. From obtuse rules and regulations to fine print that no one can read, binary options companies make it difficult to get your way. Fortunately, there are ways you can stay ahead of these companies and be aware of scams before they unfold. In cases where that’s not possible, you can always explore services like PayBack to help expedite and simplify the process. Read on to learn about the worst binary options scams, and how you can stay safe even in the direst situations.
The most critical feature in identifying a scam whether there is a charge applied for a service. It is common for a needy family to pay $1,000 or more for assistance in obtaining financial aid. Such costs are inappropriate and a scam. If there is a promise of an improved amount or type of financial aid award the family can expect the offer is most likely a scam. It’s just not possible to guarantee an improved level of grant or scholarship support. There are some legitimate companies that can assist in filing our forms and provide a legitimate level of assistance. Such costs should be relevant and appropriate for the level of service provided.
A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for early investors by acquiring new investors.
The value of Bitcoin has gone up, and then it has come back down. Over the years, it has truly taken investors, and anyone interested in the cryptocurrency, on a rollercoaster ride.
Dealing with many binary options platforms’ customer support and legal departments can be a nightmare even for the most well-versed traders. Companies that run scams are not always happy to extend channels for clients to reach them, and if they do, they’ll make it hard to actually get anywhere.