How you may be approached
Whether you’re approached online or by someone you know, if it sounds too good to be true, it probably is.
Online: The Internet provides scam artists with an easy and extremely compelling way to get in front of their targets. There are numerous online binary options trading platforms that target investors through enticing online advertising. Investors will click through to a sophisticated-looking website where they can easily open an account and start trading with as little as $250. The websites promote their trading as a simple way to make easy money with returns as high as 80 per cent.
Someone You Know: A friend or an acquaintance may tell you that binary options trading is an easy way to make money. No matter how much you trust that person, it’s important to remember to take the time to do independent research before making a decision to hand over your money.
Cold Calls: You receive a call from a stranger about an amazing investment opportunity involving binary options. This caller may be calling from a makeshift office (boiler room), where they “cold call” investors about an investment opportunity that sounds probable. These cold callers may falsify information, try to pressure you to invest or attempt to defraud you.
Remember: When you first start trading binary options, it may look like your trading account has hit the jackpot. However, these funds won’t be transferred to your bank account and when you try to withdraw the funds, the company may say you have had a bad day and lost your money or will not return your calls.
Online advertisements promoting binary options platforms may be similar to one of the ads below.
Remember, if it sounds too good to be true, it is.
A video overview
While binary options may seem like a simple way to make money, the only simple thing is this advice: stay far, far away. Hit play and watch our video overview for more information about the dangers of binary options.