Unregulated Brokers Are A Scam

Unregulated Brokers Are A Scam

Trading in binary options with an unregulated broker carries a lot of risks and there are high chances of losing out all the investment. Many such trading software platforms are mushrooming in the dark alleys of the internet world. The website has the reviews that look very genuine, however, could be photoshopped and fake. In a highly unregulated market, there are websites that claim to be making a high daily profit that should be properly verified before investing heavily.

Why Trade reviews are important

The websites are user-friendly and there are guides inside the interface to navigate between the screens that look very impressive; however is that worth to put all the money in trading with such software is the question.

  • traders should check if there are a wide range of assets offered for trading through any of the software platforms like Olymp Trade so that big players in the markets trade with the open source interfaces,
  • many of the options offered usually have more than 200 assets that are traded in currency pairs or in gold and silver, making the trader invest heavily
  • the trading platforms often show that they are registered with the Financial commission, who provide certificate partnering with a third party neutral vendor, who acts as a mediator for any issues between the trader and broker, the authenticity of which is questionable
  • the trading account once set up allows the user to access additional features like using the Olymp Trade demo account for better understanding, however, fails to mention the charges attached to the facility provided
  • the tall claims these platforms of trade make of earning $2000 a day sounds very lucrative however there is an iota of the doubt when it comes to earning so much even when the investment is minimal and the account is to be funded every time a trade has to be placed
  • scams are unfortunately everywhere, the amazing landscape and all the graphs, color coordination makes one invest heavily without checking the credentials
  • during the early days when this entire form of trade was new, there was some amount of fear of regulators bringing them down heavily, however, as the digital economy is bursting with new interfaces every day there is little or no regulation to curb them

 

The above red flags should prompt a trader to verify the online broker and the invest wisely, to avoid being scammed by fraudsters.