The recent counts of binary options fraud are eye-opening and a little scary.
That’s why we’re sharing important updates on fraud investigations and what it could mean for you and your investments!
What binary options are
Imagine that an investor gives you an opportunity.
They tell you to put down a specific amount of money on a stock and to guess whether or not the stock’s price will increase or decrease within a given amount of time.
Essentially, you’ll be given a yes/no proposition.
Often times, they’ll sweeten the deal by mentioning that you can get a portion of your money back should you ‘lose’. Should you ‘win’, however, they’ll likely offer a hefty bit of money.
See how it can be enticing?
It isn’t too late to report your case if you’ve fallen victim to binary options fraud
Now that you properly understand binary options, you can likely see just how easy it can be to get scammed out of your money.
Maybe you yourself have fallen victim to a similar scam. Don’t be embarrassed, you can still help catch those who wronged you.
Investigations into binary options fraud are still very much open. If you’ve fallen victim to a scheme, you’ve still got time to come forward and report your case.
Investigation into binary options fraud is primarily online-focused
Many of the corporations involved in binary options fraud have chosen the Internet as their hunting ground of choice. It would appear the web was chosen for two primary reasons.
Primarily, the web is notoriously difficult to regulate.
There is no shortage of websites offering binary options, and inexperienced investors may find it difficult to discern the legitimate offerings from the fraudulent. This is precisely what these corporations are counting on — a lack of experience and a susceptibility to opportunities that seem too good to be true.
Similarly, the web is a worldwide tool, so these fraudulent companies have the ability to cast a wider net instead of spending time focusing on one or two nations at a time.
Site manipulation is the biggest tool those engaging in fraud have. They’ll present a site as legitimate and trustworthy, but they have the capability to manipulate virtually every aspect of the trade via software.
You can check to see if an exchange is recognized by the SEC
In an effort to combat fraud, the SEC has released a list of a recognized list of exchanges that users can believe to be reputable.
If you’re looking to trade in binary options, consult this list or find others from reputable domains (consider focusing on .gov or .eu domains).
We’ve got plenty of tips and tricks for you if you’re looking to invest in a legitimate fashion
It can be tempting to take a gamble on an opportunity that has a potentially grand outcome but don’t let yourself be fooled.
Let us help you!
We offer everything from strategies to additional resources to educate yourself.