BT 02 Binary Options Scams and Trading Legitimately

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Free Trading Education!
    Free Demo Account!
    Perfect for Beginners!

  • Binomo
    Binomo

    2 place in the ranking!

BT 02: Binary Options Scams and Trading Legitimately

Hey guys John Kane here and today I reveal my second podcast. This episode is dedicated to binary options scams (software and brokers).

I’m going to help you realize what a scam is and what you need to avoid in the binary options market if you want to be successful. This week I released my latest income report so you can go here to check out this income report and see what worked for me and what didn’t work for me and what my trading approach was in the month of March.

Now that I got that out of the way let me focus on scams and what you need to look out for. Binary options scams come in different forms. I’ll be focusing on broker scams and software scams today.

Binary Options Broker Scams

Brokers are the platforms you use to trade binary options. So when you first create your binary options account you would deposit money and then you would start trading. Brokers have a bad reputation in this market because there have been a few real bad seeds.

There are a few different ways brokers can be seen as scams.

They don’t return your money which is the worst-case scenario because the whole point of investing is to grow your accounts, not be stolen from.

Then there are brokers that have disappeared and kept everyone’s money. They have a bunch of clients, then they take all the money and then they just disappear, probably to some island.

The last scam in the most common scam which can be tied together with brokers that don’t return your money and these are brokers that give you bonuses. These bonuses put a leash on you because people don’t realize that when they’re getting a binary options bonus from a broker it’s actually quite dangerous. If you look at the fine print you will notice that you actually have to trade that $500 bonus sometimes 15 to 20 times over if you want to withdraw money from your account. Some people will get a bonus of $500 on a $500 account which puts them at $1000 but these people don’t understand that they may have to trade $5-$10,000 worth of trades before they are eligible to withdraw any money. I’m at a point now where I trade so much I would consider taking a bonus but I’m always scared that in the back of my mind that they wouldn’t return my money because I’ve heard it happen too many times before.

Binary Options Software Scams

Those are some of the things you really want to look out for when dealing with binary options broker scams, now let me get to binary options software.

This is my main element of binary trading that I focus on throughout the week as I do hundreds and hundreds of reviews. These are get rich quick schemes and I’ll tell you exactly what you have to look for.

These websites always make huge claims and tell you that you’re going to make $5000 a day guaranteed which is absurd. Then you have websites that just have a video and an email subscription form and I’m sure if you’ve been in the binary options market you have seen a lot of these. Basically you go on the website, there is a video that explains the system and then this an email subscription form which takes you to a members area. This is a very common strategy, I call them free binary options systems that aren’t really free because they make you deposit with a broker in order to gain access to the software. These are systems that I always stay away from because in my experience every single one of them have failed.

You will also notice that these binary options scams always have testimonials from bad actors and these actors are terrible. If you don’t know what good acting and bad acting is I’m sure if you watch one of these testimonials you would know in a hurry.

Then there are scripts which are button that tell you thhere are only 10 copies left(counting down) and that there are 500 people waiting to watch this video and all of these are marketing tools to make it seem like there is urgency and their software is really popular. They want you to think that if you don’t get it right now that it’s going to disappear. This is a get rich quick software trick, they want you to sign up when you aren’t thinking straight.

Then there are verified results, these scam websites always say there are verified results but in the binary options market there are no verified results like my FX book or FX blue in Forex.

There are also software award badges which drive me insane. You go onto one of these binary options software websites and they say that it’s a beta test but on the bottom of the page they say they won an award in 2020. Which one is it? You can’t be winning awards during a beta-test because beta-test means the product hasn’t been released yet, so what award could they actually be getting?

Another thing you have to look for is no strategy discussion. For some reason binary options systems never talk about the strategy or any sort of analysis they always talk about money and just tell you that it works. I find most good systems on the market will talk about their strategy a little bit. They won’t throw it all out there and put it all on the table so people can copy but they will at least tell you if they have a news filter and what specific indicators they are using, what expiry times are being used and what timeframe the software is meant to work with.

It’s also smart to take note of discussion about lifestyle. These binary options software scams always focus on cars, houses, girls and money.

The last thing I noticed about these binary options scams is that they are affiliate marketed to death. What I mean by this is if you are receiving emails from 5 separate people all promoting the exact same system I have noticed that in these cases that system never works. There are specific affiliates in every market that promote every single product and you have to understand which affiliates can be trusted and which cannot. I find that when there is a large push for a new product there is often 15 to 30 positive reviews from people I’ve never heard of that usually tips me off to the fact that it’s a binary options scam.

How do I combat Binary Options Scams?

Now you’re probably saying to yourself this guys been talking about these bad binary options systems for 5 minutes but what do I do? There are multiple things that you can do here.

  1. The first thing you want to do here is email the company. Go to the contact page and email them with a bunch of questions and feel them out. It’s like a job interview, your interviewing them to see if there system suits you so why not email them and see what kind of response they give you. If they don’t email you back at all then it’s probably not worth your time.
  2. You can also wait a couple of weeks. I find a lot of people like to jump into these binary options scam systems overnight but if you wait a couple of weeks and see the comments on binary today you will know whether or not people are having success with it. If there are no comments it likely never had the strength to take off.

Now I want to have little discussion about an article I was reading on Forbes the other day. This article creates a common misconception in binary options that it’s a gamble. Binary options is definitely not gambling. Trading knowledge works and skill works in binary. The only thing I believe is gambling in binary options is 60 second trades and I mentioned in my first podcast I just don’t trust these trades at all.

I hope that this podcast helped you understand what binary options scams are and how you can avoid them. Obviously if you come the binary today I have lists of brokers and software that I trust and that the binary today community trusts. So if you need a broker or software come to binary today and you can click ask John to send me an email or you can leave a comment anywhere on the website. I am always around to help. This is been the 2nd podcast for binary options today and I hope that you enjoyed it and that you come back to the 3rd episode soon.

Browsing the “Binary Options Podcast” Category

Binary Options Podcast

BT 03: Binary Options Income Strategy and Mailbag

September 2nd, 2020 | by John Kane

This is the third episode of the podcast, I keep it short, sweet and informative!

Binary Options Podcast

BT 02: Binary Options Scams and Trading Legitimately

April 3rd, 2020 | by John Kane

Hey guys John Kane here and today I reveal my second podcast. This episode is dedicated to binary options scams (software and brokers)

Binary Options Podcast

BT 01: Podcast Introduction Getting Started in Binary Options

March 3rd, 2020 | by John Kane

This is the first episode of the podcast, I hope you enjoy it, it will only get better from here [&hellip

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    Binary Today is a cutting edge binary options review site with the main goal of providing helpful tools and information on brokers, signals, strategies and more. We hope to develop a large community of successful traders and condemn the vendors that aren’t responsible for their actions or respectful to their customers.

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    About

    Trading binary options is a life long hobby turned career for me. Now my focus is on keeping the community honest. I am an avid user of binary options software so I understand how to diagnose and provide valuable insight. There are many dishonorable binary product developers on the internet, I have made it my duty to point you in the winning direction.

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    Our newly released Binary Today podcast is now available, check out the latest episodes here:

    US Binary Options Brokers 2020

    It’s not very easy to find binary options brokers, that are actually ready to allow traders from the USA.

    Because of their different regulations and restrictions, most of the binary options brokers out there are unable accept US traders.

    Our team has done the research, to bring you an updated list of binary options brokers that still accept Americans. We’ve registered on all binary options brokers that still accept US traders and we’ve tested them all. Below you will find the best us binary options brokers and exchanges.

    Best US Binary Options Exchange:

    Nadex – CFTC Regulated US Exchange

    Nadex is the only binary exchange that has a CFTC license. This site is exclusive to US traders.

    • Most Trusted US Binary Platform
    • CFTC Regulation
    • No Broker Commissions

    Nadex is the only regulated binary options exchange in the US. For this reason we think that it’s very safe. If you need more information, you can read our Nadex review.

    Alternatives To US Binary Options Brokers

    There aren’t many US binary options brokers to choose from. However there are plenty of US brokers that offer other types of trading: CFD, Stocks, Cryptocurrency, Forex etc.

    If you are interested in binary options, you will definitely like these other forms of trading.

    Best Binary Options Brokers 2020:
    • Binarium
      Binarium

      Best Binary Options Broker 2020!
      Free Trading Education!
      Free Demo Account!
      Perfect for Beginners!

    • Binomo
      Binomo

      2 place in the ranking!

    Here is a list with the best US brokers that offer other types of trading:

    Rank Broker Min. Deposit Regulated Type Review
    $50 YES + FOREX TRADING TRADE NOW
    $100 YES + GET 1 FREE STOCK TRADE NOW

    Binary Options Brokers That Still Accept US Traders

    The brokers in the detailed list below are some of the oldest and best names in the industry. All the brokers listed on this page welcome traders from the USA.

    Only the best are viable, and the safety as well as the security of your data on their servers is very high. There are many scams out there, and only a few truly trustworthy brokers.

    We have tested all of these brokers. Look at the short reviews below for more information:

    1. Nadex

    Nadex is the only regulated (CFTC regulated) binary options broker that accepts US traders. The broker offers charting and technical analyisis tools, as well as, advanced order types.

    The minimum deposit is only $250.

    2. BinaryCent

    BinaryCent is currently the best US welcome binary options broker. They offer a fantastic deposit bonus, and the trading platform is top-notch.

    Binary Mate has a maximum payout of up to 95%. The minimum deposit is $250 and they offer a 100% deposit bonus to all new traders.

    WARNING! WE DO NOT RECOMMEND THIS BROKER ANYMORE VISIT BINARYCENT

    3. CentoBot

    CentoBot is a binary options robot that accepts US traders. The minimum investment is only $0.10 and the max return is 90%.

    This auto trading robot is 100% free if you sign up and deposit on their recommended broker (the minimum deposit there is $250).

    WARNING! WE DO NOT RECOMMEND THIS BROKER ANYMORE VISIT CENTOBOT

    How To Pick A US Binary Options Broker

    Overall, you need to be careful when choosing the right US binary options broker for you. There are a lot of scams out there, so you probably should take the advice in this list seriously if you want your investments to be safe. We will update this list as frequently as possible because more and more brokers are closing their doors to US traders.

    Please note that Nadex is not a broker, but an exchange.

    What customer like about Nadex is, that it has no broker commissions. The US Government requires Nadex to keep the clients’ funds in segregated accounts.

    Rank Broker Min. Deposit Max Returns* Features Review
    $250 100% + Regulated US Brand TRADE NOW

    Never deposit on a binary options broker that we (or any other trader) do not recommend. You can also check our scams page to find out which brokers are scams.

    Unfortunately US welcome brokers are not regulated by CYSEC or ASIC. Therefore you have to be extra cautious where you deposit your money.

    Non-USA Binary Options Brokers

    In order to help our American traders find the best brokers and keep them updated, we’ve decided to also list the brokers that used to accept Americans, but stopped later on.

    Take at the list below, with all binary options brokers that accepted US traders in the past:

    Name Bonus Deposit Payout % Visit
    BinaryMate 100% $250 95% US NOT ACCEPTED
    ctoption 100% $250 85% US NOT ACCEPTED
    OptionRobot 100% $200 90% US NOT ACCEPTED
    Boss Capital 100% $200 85% US NOT ACCEPTED
    CherryTrade 100% $200 81% US NOT ACCEPTED
    Optionleague 100% $200 99% US NOT ACCEPTED

    Brokers That Stopped Accepting USA Traders or Closed

    Finrally

    FinRally is the newest binary options broker to accept US traders. They have a great payout of up to 95% and the minimum deposit is $250.

    Finpari

    Update: This broker closed.

    Founded in the year 2020, this broker is owned by Norske Inter LP and Lerona Impex SA. It used to welcome traders from the US, but currently they only accept Europe and most parts of Asia. The broker is based on the SpotOption 2.0 platform, one of the most popular with traders everywhere.

    It features over 100 assets to trade in and has some of the highest security measures out there. There is secure trading, as well as speedy 1 hour withdrawals possible. With a return of up to 90% for traders, and signals from over 10,000 traders globally using the ZuluTrade feature integrated into the platform, this broker is one of the best out there for people in the USA.

    CTOption

    Update: This broker closed. There were also some scam reports.

    This is one of the older brokers out there, having been around since the year 2020. It is owned by Infinicore, a company that is to be found in St. Vincent (offshore). While they aren’t licensed by CySec, this is so that they can support traders from the USA without any hassle.

    This broker is not regulated in the US.

    The broker has over 100 assets to trade as well as a demo account possible to sample the features before using it. It is popular among traders all over the world, mainly because of the 90% payout to traders.

    There is a free social trading feature on the platform as well as unique OTC trades that allow up to 40% more trading time every day.

    Trade Thunder

    Update: Tradethunder closed. Opened in 2020, Trade Thunder is still a young company, owned by LGK Industries Ltd., based in the UK.

    They offer traders from the US a nice welcome, and have a very unique platform to trade on called the Leverate BX8 platform. It is a platform that is used a lot in Forex trading. The payouts from this broker are up to 90% of the initial deposit, which can be done in many currencies.

    With multilingual support and easy trading, this is one of the best US brokers out there.

    Porter Finance

    Update: This broker closed.

    This broker opened up in the year 2020, and was one of the best to accept traders from the US (they stopped accepting USA Traders in 2020). They have a great bonus for the first deposit for customers, with up to 10 risk free trades offered to new traders. It is owned by a company based in the UK called Running Forest Partners Ltd., and have 5 different types of US binary options accounts, each of which has its own set of material for learning as well different deposit requirements. Expiry on options expire in any time from 30 seconds to 6 months, and there are multiple currency options available.

    Tropical Trade

    Update: This broker closed.

    This binary options broker was created in 2020, making it one of the newer options out there. It is owned by FLY Ltd., located in St. Vincent & Grenadines, and has a registered office in the UK as well. It was open to traders from the US without any restrictions but they decided to stop accepting them in 2020.

    Returns to traders is about 85%, but some of the trading methods it offers can give bonuses up to 1500% of the deposit. Their platform is browser-based, has a small learning curve, and is very easy. A mobile app is also incoming. The broker offers over 150 assets for trade, with real time updates on the state of the market. It is one of the more feature-filled out there.

    Binary Options USA: What To Consider

    Please note that most US brokers are unregulated. Therefore please do your own research before signing up and before becoming a binary options customer there. All unregulated brokers are “ok” at best. There is a higher risk of getting scammed by an unregulated broker. Also read their terms and conditions before depositing (check their withdrawal conditions). It is the best to stay away from unregulated brokers.

    Best Binary Options Brokers 2020:
    • Binarium
      Binarium

      Best Binary Options Broker 2020!
      Free Trading Education!
      Free Demo Account!
      Perfect for Beginners!

    • Binomo
      Binomo

      2 place in the ranking!

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