Many today’s activities are possible to move into the online setting; therefore, there are many people who decide to try earning money via the Internet. There are many job offers that can be completed online, but also many forex, stocks and binary options trading platforms are moved online, so the traders can execute the trades from their own home. Those who have been trading to make a living for a longer period of time know how everything works and how much time and effort is needed to make money. Beginners in binary trading, or even the experienced traders who are new to the use of the Internet, should know that there are many dangers to avoid when deciding to trade online.
Online scams – the first thing to be aware of are various internet scams. These can be recognized by offering very high earnings in very short time, by using a “secret system” or a free binary robot that has the algorithm which will make every of your trades successful. These scams are usually followed by fake video testimonials by satisfied users and a video presentation of the system itself. Keep in mind that there is no such thing as fast and easy money, and stay away from registering with the websites like these.
Unreliable broker – before trading binary options it is necessary to find the best possible broker, in order for your trade to be safe, with payouts as high as possible and the most favorable conditions you can find. Stay away from the brokers that offer payouts too low, bonuses with too many conditions to be fulfilled, and pay attention to deposit and withdrawal policy – if the minimum deposit is too high and there is a high limit on minimum amount to withdraw, you may want to find a different broker. Also, if the broker claims that it takes over 48 hours for the withdrawal to be processed, it is most likely a scam. Read the reviews and comments on the Internet in order to learn about other users’ experience with a certain broker before signing up yourself. You can never be too cautious.
Scam binary robots – there are binary robots related with previously mentioned online scams, which are offered for free, but require you to make a deposit for binary trading. These robots are only going to help you lose all your money equally fast as if you threw it out of window. Also, there are websites that offer only a free binary option robot for binary options trading, but which is quite inaccurate and unreliable, and even though there is no wrong intention, the robot is simply not good enough and once again – you will lose your money.
Inaccurate signals – some brokers offer free binary signals together with the robots, or separate of them. If these signals are not accurate enough, you are going to lose your money if you trade based on their recommendations. Also, scam brokers and robots use inaccurate signals on purpose, in order to leave your account empty.
The last thing to beware is you. Do not get driven by emotions when you lose a trade, do not let the luck or the intuition decide before you invest the money, do not rush in and be patient, cold-headed and reasonable, in order to stay safe and successful in binary trading.