Binary options scams have been creating one of the biggest annoyances in the trading industry and sadly, it is something that many investors have already fallen victim to. If you are one, do not panic because there are thousands like you who have seen such a situation in their lives and still have found a way to recover the money they have lost. However, binary options scams are something to watch out for.

How to identify a binary options scam?

Daily emails and cold calls

If you open your email and find that a person is sending you an email on a daily basis to tell you that they just made a lot of money from binary options and you want to reveal it, it is a scam. If someone promises to be with the Australian Service Office and sets you up with legal action unless you send them bitcoins right away, it is a scam.

Be on the lookout for these kinds of attempts to get your money. Do not send money or try to trade binary options anywhere, except specifically who you are sending it to. And don’t try to afford binary options anywhere without double-checking the facts.

Malware Downloads

The Internet age brought a host of viruses, adware, spyware, and other bad guys into the world. Unfortunately, the value, anonymity, and digital nature of cryptocurrency means that scammers can now make cash much more easily from dangerous downloads.

As always, you should not click on unknown parts of email or potentially dangerous links. You should also be very aware that bitcoin is used as bait. For example, a social media post where someone claims that they can mine bitcoins just by downloading a program or web link to an expected bitcoin exchange offering freebies to get started should always be treated on a hunch.

There are many safe, genuine and safe cryptocurrency exchanges, but you probably won’t get them by following weird links.

Other scams

Often there are binary options clubs that present themselves as investment and membership networks. They guarantee high returns, or cash flows or some form of compensation, but with a catch. You must stop something of value, such as a membership fee, or regular ongoing payments on an account or an agent or questioned to deliver money anywhere.

Direct scams tend to market themselves to a great extent and hide their true purposes through proven marketing tricks. Your brokers and marketing input are known to have excellent potential.