Welcome to Binary Scam Watch Monitor!
Have you been looking for ways to invest online but the likelihood of being scammed still gives you the creeps? ‘Binary Scam Watch Monitor‘ is the right place for you to be as we have kept on shining the spotlight on serial scammers and other snake-oil dealers. We have plenty of real success stories helping people get their money back after a scam attempt.
We aim to help the online community learn the tried and tested ways of investing conveniently and safely. Navigating the online financial industry shouldn’t feel like a minefield anymore. If there is any “opportunity” that has all the tell-signs of being a scam, you can bet that our investigative team is already on it. Check out the SCAMS section of the website, and you will see that we mean business. Newer scams are always popping up now and then, and that is why you will be safer if you read about them here before you pay off your hard-earned cash to a ghost deal.
When we are not exposing scams, we are giving excellent advice on how to make money from cryptocurrencies, binary options and forex trading. That’s right! We do not only expose scams, but we also give in a good word when we come across a fantastic service that can set you on the right path to online investment.
3 Steps To Protect Yourself From Online Scams
Check the regulations
Read reviews online
Talk to a trusted source for advice
Check the regulations
Read reviews online
Talk to a trusted source for advice
What is Forex Trading?
Forex trading is an online venture that involves the buying or selling of currency pairs for a profit. The forex market is one of the biggest markets in terms of market capitalization, with billions of dollars traded in a single day. People find it an attractive market because there is always some market volatility to profit from price changes. What makes this market tick is a combination of many things such as economic news, official announcements and sometimes natural disasters.
In forex trading, currencies are traded in pairs. Trading in pairs allows a simultaneous buying of one currency and selling of a different one. The profits or losses come as the pairs change in price value, a bit like a tug of war between a gaining currency and a falling currency.
Making a career from forex trading will need some patience and experience. It is advisable to take some demo-trading first and learn what makes people make money and most importantly, what makes them lose money. During demo-trading, you will have all the opportunity to learn about charting patterns, interpreting common news events and learn how to operate the trading platforms available. A trading platform is a software that helps you, the market and the broker interact.
Autotrading in forex
Automated forex trading helps people make forex trades without much of their own involvement. It uses computer software to do the analysis, figure out the market and provide favourable trades. It is all based on the kind of conditions a trader may request or teach the program to look out for. A related kind of automated trading is social trading or copy trading.
Some platforms like eToro add in a social element of trading to assist forex investors. You can think about it as facebook for trading. Once on the platform, someone can look at what other investors in the platform are doing, monitor their strategies and get trades that mimic what these traders do (copy-trading). This sounds easy, right? Always be careful and remember that in all kinds of investment, your capital still bears some risk.
It is still possible to copy a trader on eToro and make the same mistakes they make. Having a good portfolio of traders and risking only a small portion of an account deposit is recommended when social trading. As a whole, the idea behind eToro is a genius idea that has helped many beginner traders.
How do people get scammed in automated forex trading?
With a lot of automated forex trading being carried out through robots, a lot of times, the promoters exaggerate the performance of the robot. Some of the robots also start with good profitability, but as market conditions evolve with time, the robot’s performance starts to dwindle. You also need to do good background checks before joining a service requiring payment before a demonstration.
Check for actual reviews right here on “Binary Scam Watch‘ and make sure these services are registered and regulated. The UK Financial Conduct Authority (FCA) and the US Securities Exchange Commission (SEC) are the two main regulatory authorities in charge of brokerages that offer copy trade services.
Run away from a copy-trade service that has most of the following signs;
- The service has not been listed by one of the major regulatory bodies.
- Has very little information about where the trades are being copied from and the strategies used.
- The service has suspicious or secretive information about past performance.
- It is not tied to a valid trade explorer.
CFD risk warning: “65% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.”
WHAT ARE BINARY OPTIONS?
Trading Binary options usually involve making a prediction about whether an asset will have its price go Up or Down. It has fewer steps than a forex trade as someone just chooses how much money to risk and clicks an ‘up’ or ‘down’ button. Think about it like answering a question about whether the price of the chosen asset will be above or below a strike price by a certain time in future. For example, a binary option could go in the lines of “will the price of the EURUSD be above or below 1.2300 by 12:00 AM this Friday”. They are a form of high-risk trading, but they also bear the potential for high returns if you are on the winning side of the market. A lot of times, they can yield up to 80% ROI if a prediction goes correct.
The one thing you should not ignore about Binary Options is that the whole amount you placed in the trade will all be lost if the trade does not go as you predicted. When trading binary options, we have realized that risking at most 5% of your account at any trade is a safe way to keep your account intact even after a series of losses. It is also a reasonable figure to make sure that you are not under-utilizing the capital you have.
Auto trading with binary options robots
Binary Options are very lucrative but as you can guess, knowing which side the market may shift is the hard part. Automated trading makes this a lot easier if you are new to binary options trading or you simply do not want the physical presence to place and monitor trades. A good binary options robot will simply let you place a set of instructions so that trades can be executed only when the price action meets those conditions. Stick to robots which are programmable to suit your trading strategy.
One such good robot you may want to have a look at is provided by ‘MT2 trading‘. The robot allows you to set up your indicators and risk management parameters, and it will enter trades automatically. It has cross-platform support allowing users to run it on Metatrader4/5 that is linked to your binary options broker.
There are some amazingly reliable binary options brokers you can find out there such as IQ Option who have the right trade management tools and auto-trading capabilities if you need them. It is always wise to read broker reviews and evaluate some automated robots before purchasing and installing them. There have been many scams that are based on binary options.
Don’t fall for scam robots – How to sniff out Robo-scammers
Keep reading robot reviews and notice the trend within which the genuine robots are sold and the trend with which exposed scam robots operate. Most of the scams do not want to give much information about the strategies used, the conditions they look for, and how your input matters. They focus more on the profits and give percentage projections without technical backing and back-testing.
A cryptocurrency is simply a decentralised but digital currency. One of the best examples of a cryptocurrency is the Bitcoin. They are growing in popularity, and as such, their values keep on rising and falling, making them a good avenue for speculation trading. Just like normal foreign exchange currencies, investors can benefit from those small price changes if they position themselves well.
Unlike regular currencies, the cryptocurrencies are exchanged through a crypto exchange such as Coinbase or Bittrex. Some brokers, however, have platforms through which you can interact with these exchanges directly for quick trades, with most trades being pairs of crypto and a dollar or cryptos with other cryptos.
Automated trading of cryptos
With very many complex factors affecting the movement of the prices of the cryptocurrencies, automated trading also helps a great deal in this special type of market. Finding a system that can do highly intelligent calculations on the correlation between these coins and generate trade-able information to traders is a great relief. A highly-rated example is ‘EndoTech‘ as it offers many solutions for different types of crypto-traders with diverse trading strategies.
EndoTech offers high transparency to the users and is supervised by a combination of advanced Ai systems and an actual team of experts with proven backgrounds. They explore all the market conditions and offer subscribers the best way forward considering their existing portfolios. The only downside is that the service stopped offering demos or trials due to the previous over-subscription.
What Are HYIP Scams
Arguably one of the most popular white-collar frauds come in the form of High Yield Investment Programs (HYIPs). They are simply investment programs that ask unsuspecting investors to join a scheme that promises outrageously high returns over a certain period. Some victims of these scams usually suspected something was unusual as there was no tangible instrument being traded, but they fell for them due to the lure of the high returns, with some HYIP promoters even quoting 200% returns.
The fact that they are not regulated and the advertisers usually give very scanty information about how they make money makes them hard to black-list. The SEC is a financial regulator that lists the traits of an HYIP as follows.
- Hard to directly contact the people who are running the program.
- No openly declared and documented financial instrument being traded for profit.
- The interest promised is unusually above investment-grade returns.
- Many are referral based, adding the possibility of payments coming from new entrants.
If you would like to take your chances with Hyips, check out our top paying hyip list
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This YouTube video explains everything.