Forums Signals/Robots/Autotraders etc

How to avoid being scammed by FAKE binary options Bots/Software/Systems/Reviews

lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
1) Don't use real money at first to trade them. If a bot or software requires this along with a broker sign up then its a SCAM!

2) Do NOT trust reviews you see on most forums/youtube as marketers buy traffic to rank high for reviews so you will only see their reviews which will always be good. Why is this? Because they get paid when you sign-up to a broker and lose your money.

3) Always use a demo account to trade a new bot/software or system you see and again if you can't then its 99% sure of being a SCAM.

Pass this post around to newbies and always remember to never signup to a broker and deposit if required and if they don't have a trial of some sort then they are not confident of what they have and likely are a SCAM. Test out a new bot/system/software with a demo account for a few weeks or a month to see if it trades well. Most fake software will fail right from the start. As well a real trader will talk about trading not just results you will see charts and trades and explanations not just how much you can make or how rich you will become, scammers do this in order to SUCK you in!


  • Options
    DO NOT TRUST REVIEWS... Can I suggest that this phrase should be the MANTRA for Binary Have it flashing on your home page with a button displaying Lotzo's comments above. As a one time neophyte to binary options trading (being burnt by scammers), I have lost$$. I know (now) almost all review sites are not trustworthy. Sure, newbies will always fall for the fake advertising and get rich schemes. Anyone wishing the succeed in this space must do your own research - (DYOR). It seems that Binary Options Trading (Brokers and Marketers and others) is predicated on most loosing and a few winning? If more newbies win (I wonder what the critical % is here?) will the whole industry fall over - even disintegrate?
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    BryanMacBryanMac Posts: 851 ✭✭✭
    I don't get how anyone can lose money when a demo account is available, so even if you buy a crap system you still demo it so you never put your real account balance at risk, if you do you have no one to blame but yourself.
    Bryan Mcafee
    Hit me up on skype at Brymcafee (McAllen TX)
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