Introduction to Binary Options Fraud

Before we dive into the what, why, and how of binary options fraud, it is important to understand how binary options work. Basically, someone decides to sign up to a brokerage and becomes a customer. This is done usually by sending an e-mail to a company’s website. The platform also lists some examples of firms that offer this type of services for a profit.

Through the website, users have the opportunity to decide what they are interested in. That is, they can sign up for a strategy that involves trade on the major exchanges like CME, ICE, NASDAQ, and Bats. The users are usually able to select from several binary options pairs like Dow Jones, Tesla, Apple, ReneSola, etc.

How to Spot a Fraudulent Binary Options Broker

On the contrary, many people that are approached by unscrupulous binary options fraudsters never believe that they will actually have their money stolen from them. They think that something like this cannot actually happen to them since they trust that this particular company will follow the official procedure. But that’s where the tell-tale signs are very clear. They include:

• Fraudulent disclosure of compensation

The fraudster will state that he will pay you out based on the value of the trades, but when it comes to the actual trading the money is not being used in the proper way and it is just going into his pocket.

Fund Recovery Companies

The human brain is a wild and tender thing. We keep remembering the good things and forgetting the bad. In many cases, this makes things worse, so be warned! Memory retention is a gift and a curse! As a client, you need to take the time and understand why you are dealing with this. This is the way to the ultimate recovery! Do not take the money! Let a reputable fund recovery company be the guide to recovery. These companies are state-of-the-art and keep a close eye on recovery of the funds.

Fund recovery companies offer more than just a cash settlement. They offer you the help needed in the following ways:

Dismiss the fraud charges. This is the most important point of difference between other recovery companies.

Catching Thieves

Although online swindlers run wild, many of them are a greedy few. Fortunately, when they are caught and prosecuted, they do face a massive loss and they can be charged with a criminal offense. When this occurs, they are taken out of the scam and thrown in prison. While this may not seem like much, it is quite a feat and many of these swindlers go through great lengths to avoid this consequence.

Last year alone, 77 individuals were charged with foreign exchange and binary options fraud. Many of them were behind bars. Unfortunately, an estimated 40 percent of those convicted of online fraud will serve jail time in some capacity. If you are worried about getting your funds back from these scam artists, be wary and look for these people in the jail records.