Binary Options Autotrading Scams
Along with the massive boom in the popularity of Binary Trading, there has also been an explosion of “Make Money” type sites that claim to be able to make you money with binary without you ever having to place a trade. Lots of these sites are actually scams. Most importantly any site that claims to help you trade by using AutoTrading is to be avoided.
What is Autotrading?
Autotrading is basically where someone else has control of your trades – You basically hand over control to someone else to trade on your behalf (either manually or automatically) and they make all the decisions for you. Sounds like a great idea. Unfortunately, its not a very good idea at all and will most likely lose you all of your money.
Manual Autotrading, is where you let someone else have your broker logins, and they use your account to trade on your behalf. This usually starts of very well with small, low-risk trades to make you feel confident, and then the operator will convince you to put in a large amount of money so they can “Make You More Money” – This is a scam, these sites are all owned by scammy brokers and its a tactic used to push for big deposits which you then allow them to lose on your behalf.
There is also an automated setup where you create your binary account through a 3rd party software and then your account is “connected” to an API (Application Programming Interface) which then allows someone to place trades on hundreds of accounts at once with just one click. This is also another tactic created by scammy brokers who are trying to get you to put loads of money down so they can effectively steal it from you with your permission.
How do I spot these Binary Options Autotrading Scams?
Its quite easy really, any site/person that requests your username/password is not to be trusted. Any self-respecting company/individual would NEVER ask for your personal broker logins. If someone does, THEY ARE NOT TO BE TRUSTED!!!
Also any site/individual who claims that they can make you money with Binary Options without you having to place trades yourself is LYING TO YOU SO THEY CAN STEAL FROM YOU! Don’t trust these scumbags!
I Have Been Scammed, What Can I Do?
If you have fallen victim to one of these Binary Options Autotrading Scams, you can get help. OptionXE the Binary Training Company have a special Recovery Package that they offer. Not only will they be able to get your money back (in most cases) they will also be able to show you how to trade properly with their Binary Training Courses. Get in touch with them today by clicking the image below and they will contact you to figure out exactly what can be done to reclaim your losses.