Binary options fraud are the most significant and common frauds in the financial and trading world. There have been losses reported in millions of dollars under the binary options market.
A binary option is known as a financial option in which the return is a fixed remuneration or nothing at all. Binary options can be tricky and unreliable, yet they are easy to understand, making them a clear choice among lowly-skilled traders.
The most frequently traded commodities are indices, forex, and stocks. The options come with an accurate expiry date, duration, and striking price, if the trader precisely guesses the market’s direction with a given time. He would be compensated with a fixed return regardless of the changes in the commodity after that particular time. Numerous developing countries have imposed a ban on it.
These frauds are mounting day in and day out where every naive trader is losing his money relying on exciting deals and fake return promises. Automated trading has taken a tremendous toll on the modern trading audience, with every company claiming that they have advanced bots that will help traders make lots of profits in the long run.
Claims encompass that the bot’s designs are made such that the investor would not make any loss, whatsoever be the investment amount. This declaration seems sugarcoated from the initial step. A significant proportion of the binary options exchanges are fake. Users can find the list of counterfeit exchanges directly on our Crypto Victim Desk official site.
These scammers build websites based on an original and popular binary exchange. However, the trading chart that follows operates according to their algorithm. What is meant by that is when you input your money in the exchange, it indicates that you have made much profit in the short term. We advise you to stay safe and invest your money wisely in such Binary options fraud.