Now, we all know that binary trading South Africa albeit the world is growing. However with the ever increasing growth also comes the increasing binary trading South Africa scams. Do you know that Israel is up in arms against binary options in the country. Arresting broker owners and ceo’s. Few other countries are following suit and I believe many more will. Why is this you may ask? Well its not just Scams in South Africa its global! Mainly where there is a high interest, marketing of false information are rife.
Now with many interested in making money online and via financial trading there is a major demand. However this demand is exploited by a few and that’s how people start to getting scammed. In search of money but losing it instead.
So why are countries banning binary trading ?
Because complaints are through the roof globally and many people are actually been ripped off. People we need to educate ourselves before investing in things we don’t understand just because there are promises of wealth and riches! Here is a RED list of firms that are blacklisted by CFTC of USA. Aggressive advertising is what make countries ban these. Seen them as nothing more then gambling instead of trading the markets. However I’d like to know your opinion on that?
Tips to Avoid Binary Trading South Africa Scams
Research the broker that you wish to join. Regulated by your counties financial services board all the better. Regulated by CYSEC, FCA cool for Europeans and us. If not go research before signing up. You do not want t be a number in binary options scams.
Non regulated brokers
An area of question. Because not all non regulated brokers are binary trading south Africa scams. However many are and that’s where complaints originate from giving a bad name to the entire industry. so best be safe and keep away from brokers that are not under a regulatory body.Make sure that the brokers website has SSL which is a secure connection. If it doesn’t your browser would let you know. Brokers who don’t pay attention to the security of the platform and traders are most likely a scam. Sign up with a broker that is regulated in your country, Cysec is a good option but do your due diligence.
Be aware and Vigilant Due Diligence is key to safety
So once you start getting calls with promises of the world and to invest more money that is a sign of illicit activity. So please don’t fall for that! Nor entertain it. If you never gave details to a broker that contacts you that means they are in breach of privacy policies and got your details from another party. That should immediately raise a red flag to you. Also make sure the terms and conditions are clear and understandable. You should always read this and make sure to understand. If its vague and hard to understand, stop. Lack of customer support is another sign of who to stay away from. Remember you must educate yourself if you do not want fall for the vast amount of binary trading South Africa scams out there. Albeit the world.
Be wary of too good to be true offers cause it may just be that. Can’t expect to be a millionaire in a month. Such promises should be frowned upon and just move along. Make sure you know the necessary risks and the broker lets you know of the same. Safe brokers always show the regulatory body and number together with the risks involved openly. If these are not present. That should be a sign of binary trading South Africa Scams. Withdrawal issues complaints is another sign.
So to conclude, be safe and ensure the country you live in actually permits binary options trading and make sure to keep the above tips in mind when deciding to trade. Lastly, FB account managers are mainly scum so keep away. Be safe.