Binary Options continue to be very active among offshore brokers. However, there is great risk involved in trading with a broker who is not regulated and who operates without proper license. There are a lot of unregulated brokers that are nothing but scam. Chances of losing the entire amount that was deposited are very high with these firms. Many people have lost heavy amounts as a result of dealing with fake binary options providers. With the steep increase in the number of very attractive trading markets, a lot of scammers also had penetrated into this industry. These professional fraudsters make empty promises and cheat the traders on a large scale.
It is very important to identify the really honest broker. How to do that? Here are 6 tricks to filter out the scammers and find out the broker who is safe, honest and reliable.
- Go through independent reviews
In order keep away from scammers so as not to fall in their trap, investors should carefully read unbiased reviews on the brokers. By way of posting honest and highly informative reviews, ThatSucks.com provides the traders a risk-free environment for depositing their hard earned money. They publish hundreds of reviews and at the same time recommend the readers the names of brokers the reviews about whom deserve more attention. Also, ThatSucks.com team is committed to provide all possible assistance to the scam victims and help to find solutions to their problems.
- Check whether the broker is regulated
The trader may be interested either in Binary Options or in CFD or in Crypto currencies. But, it is more important to see with whom the trader is dealing. It is very important to ensure that the broker is regulated by a financial authority in their country and also in the trader’s country. When there are so many properly regulated brokerage firms, the traders need not go after the unregulated and unlicensed brokers among whom there will be scammers. Those who go through reviews posted by ThatSucks.com can get the names of regulators in different countries. For example, FCA (Financial Conduct Authority) in UK, ASIC (Australian Securities and Investments Commission) in Australia, CFTS (Commodity Futures Trading Commission) in the US, AMF in France, CONSOB in Italy and BAFIN in Germany are among the main regulators across the world. Prior to depositing money with the brokerage firm, the traders may make it a point to check whether the broker is regulated by one of the above watchdogs or by a similar one.
- How to check Binary Options
Though Binary Options are banned in Europe their service is used in other parts of the world. ThatSucks.com recommends a method to check Binary Options. The trader may choose Up or Down and also an expiration time. You will make profit if it is found that the underlying asset matches the predicted direction.
- Find out a reliable CFD broker
CFDs are highly profitable and are very flexible also. For both short and long term positions CFDs allow purely personalized trading decisions. Traders who are in search of a trusted CFD broker may visit the corresponding page of ThatSucks.com which is given below.
looking for a CFD broker, visit this page.
- How to find Crypto currency Brokers?
Quick profits and high volatility make Crypto currency highly appealing. Those who are interested in Crypto assets trading may click visit our Crypto Brokers page of ThatSucks.com. They may also read the article difference between trading and investing in crypto.
- Never rely on Trading Robots
Auto trading robots are scams. ThatSuck.com does not recommend any auto trading robot for the time being. Traders may also click visit our Robots page.